Nevro Shares 21% on 3Q Revenue Beat, Raised 2024 Outlook

Dow Jones11-12

By Denny Jacob

Nevro shares surged 21% after better-than-expected revenue in its latest quarter.

Shares were trading around $6.44. The stock is down 75% on the year.

The medical device company recorded revenue of $96.9 million in the third quarter, above estimates of $93.1 million by analysts polled by FactSet. The company also narrowed its loss to $12.8 million from $23.8 million year-over-year.

Nevro raised its outlook for 2024. The company now expects adjusted Ebitda for the year to be between a loss of $16 million and a loss of $18 million compared to its prior forecast in the range of a loss of $18 million to a loss of $20 million.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 12, 2024 10:29 ET (15:29 GMT)

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