Nevro Corp. (NVRO) saw its loss widen to $14.51 million, or $0.50 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $9.29 million, or $0.33 a share. Revenue during the quarter surged 64.32 percent to $68.44 million from $41.65 million in the previous year period. Gross margin for the quarter expanded 536 basis points over the previous year period to 67.75 percent. Operating margin for the quarter stood at negative 19.07 percent as compared to a negative 21.65 percent for the previous year period.
Operating loss for the quarter was $13.05 million, compared with an operating loss of $9.02 million in the previous year period.
Nevro Corp. projects revenue to be in the range of $310 million to $320 million for financial year 2017.
Working capital increases sharplyNevro Corp. has recorded an increase in the working capital over the last year. It stood at $373.16 million as at Mar. 31, 2017, up 55.14 percent or $132.63 million from $240.53 million on Mar. 31, 2016. Current ratio was at 11.91 as on Mar. 31, 2017, up from 10.49 on Mar. 31, 2016. Cash conversion cycle (CCC) has decreased to 152 days for the quarter from 336 days for the last year period. Days sales outstanding went down to 48 days for the quarter compared with 56 days for the same period last year.
Days inventory outstanding has decreased to 173 days for the quarter compared with 378 days for the previous year period. At the same time, days payable outstanding went down to 69 days for the quarter from 98 for the same period last year.
Debt increases substantially
Nevro Corp. has witnessed an increase in total debt over the last one year. It stood at $139.82 million as on Mar. 31, 2017, up 606.13 percent or $120.02 million from $19.80 million on Mar. 31, 2016. Nevro Corp. has witnessed an increase in long-term debt over the last one year. Total debt was 33.46 percent of total assets as on Mar. 31, 2017, compared with 7.21 percent on Mar. 31, 2016. Debt to equity ratio was at 0.58 as on Mar. 31, 2017, up from 0.09 as on Mar. 31, 2016. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
