The following is a summary of the NeuroPace, Inc. (NPCE) Q2 2024 Earnings Call Transcript:

Financial Performance:

• NeuroPace reported a revenue of $19.3 million for Q2 2024, representing a 17% growth compared to the same period last year.

• Gross margin for Q2 2024 was 73.4%, an improvement from 72.5% in Q2 2023, primarily due to increased RNS system sales.

• Operating expenses were tightly controlled, resulting in a net loss of $7.5 million for Q2 2024, an improvement from a net loss of $9.1 million in Q2 2023.

Business Progress:

• NeuroPace continues to drive adoption and utilization of the RNS system in level four centers and is expanding access through the Project CARE program.

• The company has completed training new sales representatives, who will support revenue growth, especially in territories outside level four centers.

• The NAUTILUS study for expanding RNS system indications is progressing well, with all implants completed and the trial now in the patient follow-up phase.

Opportunities:

• Continued expansion of RNS system adoption and utilization offers significant market potential, given the $2 billion annual market opportunity for drug-resistant epilepsy patients within level four centers.

• The Project CARE program pilot phase is showing positive early results in increasing patient referrals, which could lead to broader adoption of RNS therapy.

Risks:

• Despite positive trends, the growth rate for the RNS sales could be influenced by seasonal variations and market conditions.

More details: NeuroPace IR

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