NASDAQ$NPCE

Neuropace Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported financial results for the fourth quarter and full year ended December 31, 2021.

NeuroPace reported a 2% increase in total revenue for Q4 2021, reaching $11.0 million, with initial implant revenue increasing by 10% to $8.5 million, while replacement implant revenue decreased by 19% to $2.5 million. The company's net loss for the quarter was $10.7 million, compared to a net loss of $4.6 million in the prior year period.

  • Total revenue for Q4 2021 was $11.0 million, a 2% increase year-over-year.
  • Initial implant revenue for Q4 2021 increased by 10% to $8.5 million.
  • Replacement implant revenue for Q4 2021 decreased by 19% to $2.5 million.
  • Net loss for Q4 2021 was $10.7 million, compared to a net loss of $4.6 million in the prior year period.

Headline financials

Total Revenue

$11M

Previous: $10.8M+2.3%
EPS (adj)

-$0.44

Previous: -$210.40+99.8%
Gross Profit Margin

73.0%

Previous: 76.0%-3.9%
Capital Expenditures

$154K

Previous: $46K+234.8%
Free Cash Flow

-$8.36M

Previous: -$6.47M-29.2%
Net Income

-$10.7M

Previous: -$4.62M-131.7%
Operating Income

-$9.02M

Previous: -$2.98M-202.4%
Gross Profit

$8.08M

Previous: $8.22M-1.7%
Cash & Equivalents

$19.2M

Previous: $26.4M-27.3%
Total Assets

$134M

Previous: $56M+138.7%
Stock-Based Comp

$1.88M

Previous: $487K+285.2%

Revenue & EPS history

Neuropace · Revenue · Quarterly

$11M

Q4 2021+2.3%vs Q4 2020
Beat estimate in 10 of 12 quarters(83%)
ActualEstimate

Revenue by segment

Neuropace · $1.6M total across 1 segment · Q4 2022

  • DIXI Medical
    $1.6M

Forward guidance

Management provided revenue guidance for Q1 2022 and full year 2022, taking a measured approach given the uncertainty surrounding COVID-19.

Tailwinds

  • Total revenue of $10 million to $11 million for Q1 2022
  • Initial implant revenue of $8 million to $8.5 million for Q1 2022
  • Total revenue of $45 million to $48 million for full year 2022
  • Initial implant revenue of $39 million to $42 million for full year 2022
  • Active implanting centers to increase approximately 10% compared to 2021

Headwinds

  • Uncertainty surrounding COVID-19, including the risk posed by new variants
  • Potential impact of COVID-19 on hospital, physician and patient behavior
  • Replacement implant revenue of $2 million to $2.5 million for Q1 2022
  • Replacement implant revenue of approximately $6 million for full year 2022
  • Total operating expenses of $74 million to $76 million for full year 2022, which includes approximately $8 million to $9 million of non-cash stock-based compensation expense

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 Q4 2021

Historical avgQ4 2021

-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

Earnings price reactions
QuarterReport dateReaction (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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