LONDON, UK / ACCESSWIRE / December 18, 2017 / Active-Investors free earnings report on Nevro Corp. (NYSE: NVRO) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=NVRO. On November 06, 2017, the Company posted its financial results for Q3 FY17. The medical device Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Nevro most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

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Earnings Highlights and Summary

For three months ended September 30, 2017, Nevro's revenue increased 35% to $82.26 million from $60.92 million in Q3 FY16. The increase was due to continued adoption of the Senza system. The Company's revenue surpassed analysts' expectations of $80.49 million.

In the first nine months of 2017, the Company's revenue increased 44.8% to $228.71 million from $157.97 million in the same period last year.

For the reported quarter, the Company's US revenue increased 40% to $66.3 million from $47.2 million in Q3 FY16. During Q3 FY17, the Company's international revenue increased 17%, or 12% on a constant currency basis, to $16.0 million from $13.7 million in the same period last year.

During Q3 FY17, Nevro's gross profit increased 39% to $57.94 million from $41.69 million in the same period last year. For the reported quarter, the Company's gross margin increased 200 basis points to 70% of revenue, from 68% of revenue in the third quarter of last year. The increase was due to a decrease in charges of inventory-related writedown.

For the reported quarter, the Company's total operating expenses increased 43% to $62.36 million from $43.56 million in Q3 FY16. The increase was due to increased headcount and related personnel costs and legal expenses associated with intellectual property litigations.

During Q3 FY17, Nevro's operating loss was $4.42 million compared to operating loss of $1.87 million in the same period last year.

In the first nine months of 2017, the Company's operating loss was $27.41 million compared to operating loss of $16.81 million in the same period last year.

During Q3 FY17, Nevro's earnings before tax (EBT) was negative $5.86 million compared to negative $3.44 million in the same period last year.

For the reported quarter, Nevro's net loss was $6.23 million compared to net loss of $3.89 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) was negative $0.21 compared to negative $0.14 in the same period last year. Diluted EPS surpassed analysts' expectation of negative $0.22.

In the first nine months of 2017, the Company's net loss was $32.35 million compared to net loss of $21.95 million in the same period last year. In the first nine months of 2017, the Company's diluted EPS was negative $1.10 compared to negative $0.77 in the same period last year.

Balance Sheet

As on September 30, 2017, Nevro's cash and cash equivalents increased 6.4% to $44.04 million from $41.41 million on December 31, 2016. For the reported quarter, the Company's long-term debt increased 3.7% to $143.26 million from $138.14 million in Q4 FY16.

For the reported quarter, the Company's net accounts receivable increased 1.1% to $53.41 million from $52.82 million in Q4 FY16. For the reported quarter, the Company's accounts payable increased 10.1% to $17.80 million from $16.16 million in the fourth quarter of 2016.

In the first nine months of 2017, the Company's cash provided by operating activities was negative $11.83 million compared to negative $42.86 million in the same period last year.

Outlook

For FY17, the Company expects revenue to be in the range of $315 million to $320 million.

Stock Performance Snapshot

December 15, 2017 - At Friday's closing bell, Nevro's stock slightly dropped 0.21%, ending the trading session at $70.35.

Volume traded for the day: 475.18 thousand shares, which was above the 3-month average volume of 429.50 thousand shares.

After last Friday's close, Nevro's market cap was at $2.05 billion.

The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry. This sector was up 1.0% at the end of the session.

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