Business
NeuroPace Announces Preliminary Unaudited Fourth Quarter and Full-Year 2022 Revenue and Appoints Dr. Uri Geiger to Board of Directors
MOUNTAIN VIEW, Calif., Jan. 09, 2023 (GLOBE NEWSWIRE) -- NeuroPace, Inc. (Nasdaq: NPCE), a commercial-stage medical device company focused on transforming the
About this update from Neuropace, Inc.
[{"type":"text","content":"MOUNTAIN VIEW, Calif., Jan. 09, 2023 (GLOBE NEWSWIRE) -- NeuroPace, Inc. (Nasdaq: NPCE), a commercial-stage medical device company focused on transforming the lives of people living with epilepsy, today announced preliminary, unaudited revenue results for the fourth quarter and full-year ended December 31, 2022 and the appointment of Dr. Uri Geiger to its Board of Directors. Preliminary Unaudited Fourth Quarter 2022 Total revenue is expected to be approximately $12.8 million, representing growth of 16% compared to $11.0 million in the fourth quarter of 2021.Initial implant revenue is expected to be approximately $9.8 million, representing growth of 15% compared to $8.5 million in the fourth quarter of 2021.Replacement implant revenue is expected to be approximately $1.4 million, representing a decline of 44% compared to $2.5 million in the fourth quarter of 2021.DIXI Medical revenue is expected to be approximately $1.6 million. Preliminary Unaudited Full-Year 2022 Total revenue is expected to be approximately $45.5 million, compared to $45.2 million in 2021.Initial implant revenue is expected to be approximately $35.7 million, representing growth of 6% compared to $33.7 million in 2021.Replacement implant revenue is expected to be approximately $8.2 million, representing a decline of 29% compared to $11.5 million in 2021.DIXI Medical revenue is expected to be approximately $1.6 million. “We finished the year with continued business momentum driven by increasing initial RNS System implants and our first quarter distributing DIXI Medical stereo EEG products,” said Mike Favet, Chief Executive Officer of NeuroPace. “We believe that we are entering 2023 well-positioned to further penetrate and expand the drug-resistant epilepsy treatment market through execution of initiatives designed to increase awareness of the differentiated benefits of the RNS System and to engage with patients earlier in the treatment continuum.” NeuroPace plans to release its fourth quarter and full year 2022 financial results in early-March of 2023. The quarterly and annual preliminary revenue estimates for 2022 included in this press release are being provided prior to the completion of review and audit procedures by NeuroPace’s independent registered public accounting firm and are therefore subject to adjustment. Board of Directors AppointmentAdditionally, ...