NASDAQ$NPCE
Neuropace Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
NeuroPace achieved strong revenue growth and cashflow performance, demonstrated progress in market penetration efforts, and advanced market development, product, and clinical initiatives.
NeuroPace reported a 47% year-over-year increase in revenue for Q3 2023, reaching $16.4 million. The company reduced cash burn to $2.2 million and increased full-year revenue guidance to $62.5-$63.5 million.
- Achieved total revenue of $16.4 million for the third quarter of 2023, representing a 47% increase over the third quarter of 2022
- Reduced cash burn to $2.2 million, down from $4 million in the second quarter and $9.8 million in the first quarter, further extending cash runway
- Implanted first patients with the RNS System in the community setting as part of the Project CARE initiative
- Received FDA approval of the Tablet Remote Monitor (TRM), which simplifies patients’ experience through seamless transfer of data to the clinician
Headline financials
Revenue & EPS history
Neuropace · Revenue · Quarterly
$16.4M
Revenue by segment
Neuropace · $1.6M total across 1 segment · Q4 2022
- DIXI Medical$1.6M—100.0%
Forward guidance
NeuroPace increased its full-year revenue guidance to range between $62.5 million and $63.5 million, representing growth of 37% to 39% over 2022. Increased gross margin to range between 71% and 73%. Revised total operating expenses to range between $75 million and $76 million, including $9 million to $10 million of non-cash expenses
Tailwinds
- Revenue growth to be primarily driven by increasing adoption and utilization of its RNS System
- Full year impact of the sale of DIXI Medical stereo EEG products
- Gross margin to range between 71% and 73%
- Operating expenses to range between $75 million and $76 million
- Company believes it has sufficient capital to fund its planned operations into 2026
Headwinds
- Continuing decline in revenue from replacement device implants
- Transition to the third generation RNS System, with an extended battery life, to be largely complete
- Substantially all of the prior generation RNS devices to have been replaced
- Revenue growth to be partially offset by decline in revenue from replacement device implants
- Non-cash expenses of $9 million to $10 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
-0.7%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-0.0%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+37.4%
Q3 2025
Best reaction
-40.1%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.6% | -1.8% | +0.8% | |
| Q4 2025 | +1.1% | +1.6% | +5.9% | |
| Q3 2025 | +37.4% | +43.1% | +74.5% | |
| Q1 2025 | +21.6% | +31.3% | -14.5% | |
| Q4 2024 | -2.4% | -15.8% | +2.6% | |
| Q3 2024 | +25.7% | +23.4% | +49.9% | |
| Q2 2024 | -1.9% | -0.4% | +4.8% | |
| Q1 2024 | -40.1% | -35.9% | -51.4% | |
| Q4 2023 | +0.8% | +2.5% | -8.4% | |
| Q3 2023 | -1.4% | +9.5% | +14.6% | |
| Q2 2023 | +9.8% | +9.8% | +103.4% | |
| Q1 2023 | +1.9% | -3.5% | -15.4% | |
| Q4 2022 | -13.3% | -7.8% | -1.9% | |
| Q3 2022 | -9.9% | -17.6% | -29.6% | |
| Q2 2022 | -3.5% | -10.2% | -26.6% | |
| Q1 2022 | +1.2% | -3.6% | -3.8% | |
| Q4 2021 | -0.9% | -7.7% | -1.2% | |
| Q3 2020 | -15.2% | -22.2% | -47.7% | |
| Q3 2021 | -15.2% | -22.2% | -47.7% | |
| Q2 2021 | -7.6% | -10.7% | -8.0% | |
| Q2 2020 | -7.6% | -10.7% | -8.0% | |
| Q1 2020 | +0.8% | +8.7% | +2.2% | |
| Q1 2021 | +0.8% | +8.7% | +2.2% | |
| Q4 2020 | +0.8% | +8.7% | +2.2% |
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