NEVRO CORP (NVRO) saw its loss narrow to $9.82 million, or $0.34 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $14.19 million, or $0.51 a share.
Revenue during the quarter surged 112.93 percent to $70.53 million from $33.12 million in the previous year period. Gross margin for the quarter expanded 780 basis points over the previous year period to 69.24 percent. Operating margin for the quarter stood at negative 8.89 percent as compared to a negative 39.68 percent for the previous year period.
Operating loss for the quarter was $6.27 million, compared with an operating loss of $13.14 million in the previous year period.
For fiscal year 2017, NEVRO CORP forecasts revenue to be in the range of $310 million to $320 million.
Working capital increases sharply
NEVRO CORP has recorded an increase in the working capital over the last year. It stood at $378.09 million as at Dec. 31, 2016, up 53.55 percent or $131.85 million from $246.24 million on Dec. 31, 2015. Current ratio was at 9.96 as on Dec. 31, 2016, up from 7.77 on Dec. 31, 2015.
Debt increases substantially
NEVRO CORP has witnessed an increase in total debt over the last one year. It stood at $138.14 million as on Dec. 31, 2016, up 599.80 percent or $118.40 million from $19.74 million on Dec. 31, 2015. NEVRO has witnessed an increase in long-term debt over the last one year. It stood at $138.14 million as on Dec. 31, 2016, up 599.80 percent or $118.40 million from $19.74 million on Dec. 31, 2015. Total debt was 32.08 percent of total assets as on Dec. 31, 2016, compared with 6.78 percent on Dec. 31, 2015. Debt to equity ratio was at 0.55 as on Dec. 31, 2016, up from 0.08 as on Dec. 31, 2015.
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