4/26/2023

speaker
Lisa
Conference Operator

Good afternoon. My name is Lisa, and I will be your conference operator today. At this time, I would like to welcome everyone to Nevro's first quarter 2023 financial results conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star 1 on the telephone keypad. If you would like to withdraw your question, you may press star 1 again. I would now like to turn the call over to Julie Dewey for introductory remarks. Please go ahead.

speaker
Julie Dewey
Chief Corporate Communications and IR Officer

Thank you, and good afternoon and welcome to Nevro's first quarter 2023 earnings conference call. We appreciate you joining us. I'm Julie Dewey, Nevro's Chief Corporate Communications and IR Officer. With me today are Keith Grossman, Executive Chairman, Kevin Thornall, CEO and President, and Rod McLeod, Chief Financial Officer. On our call today, Keith will introduce Kevin, and Kevin will make some brief comments, and then Keith will discuss our first quarter business results. Rod will conclude with our detailed financials and guidance, and then we'll open up the call for questions. Please note there are also slides available related to our first quarter performance on the NEVRO Investor Relations website on the events and presentations page. Earlier today, NEVRO released its financial results for the first quarter ended March 31, 2023. A copy of our earnings release is available on our Investor Relations section of our website at nevro.com. This call is being broadcast live over the Internet to all interested parties on April 26, 2023, and an archived copy of this webcast will be available on our Investor Relations website. Before we begin, I'd like to remind everyone that comments made on today's call may include forward-looking statements within the meaning of federal securities laws. Our results could differ materially from those expressed or implied as a result of certain risks and uncertainties. Please refer to our SEC filings, including our annual reports, on Form 10-K, filed on February 21st, 2023, for a detailed presentation of risks. The forward-looking statements in this call speak only as of today, and we undertake no obligation to update or revise any of these statements. In addition, we'll refer to adjusted EBITDA, which is a non-GAAP measure that is used to help investors understand NEBRO's ongoing business performance. Non-GAAP-adjusted EBITDOCS includes interest, taxes, and non-cash items such as stock-based compensation and depreciation and amortization, as well as litigation-related expenses, certain litigation charges and credits, and other adjustments such as restructuring charges. Please refer to the GAAP to non-GAAP reconciliation tables within our earnings release. And now, it's my pleasure to turn the call over to Keith.

speaker
Keith Grossman
Executive Chairman

Thank you, Julie, and good afternoon, everyone. We appreciate your joining us. Before I jump into our Q1 results, I first want to introduce Kevin and just say how pleased the board and I are that our search resulted in his appointment as CEO. Throughout his career, Kevin's established an excellent track record of leading medical device businesses that deliver strong growth and commercial excellence. He's an ideal fit in every way for where Nevro is today and where I believe it can go in the future. And we just couldn't be more pleased that he joined the team. So I'll turn the call over to Kevin so you can hear directly from him. And since he's been on the ground here for just a little more than 48 hours, I'll come back in a few minutes to review our progress over the last quarter, and then we'll all field your questions at the end of the call. Kevin?

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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