$NVRO
NEVRO CORP

2016 Q1 Form 10-Q Financial Statement

#000119312516583945 Filed on May 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $41.65M $9.662M
YoY Change 331.08% 44.99%
Cost Of Revenue $15.66M $3.873M
YoY Change 304.44% 29.14%
Gross Profit $25.99M $5.789M
YoY Change 348.9% 57.95%
Gross Profit Margin 62.39% 59.92%
Selling, General & Admin $28.64M $13.13M
YoY Change 118.15% 111.43%
% of Gross Profit 110.22% 226.81%
Research & Development $6.361M $4.998M
YoY Change 27.27% 6.43%
% of Gross Profit 24.48% 86.34%
Depreciation & Amortization $380.0K $46.00K
YoY Change 726.09% 187.5%
% of Gross Profit 1.46% 0.79%
Operating Expenses $35.00M $18.13M
YoY Change 93.09% 66.22%
Operating Profit -$9.017M -$12.34M
YoY Change -26.92% 70.4%
Interest Expense $642.0K $673.0K
YoY Change -4.61%
% of Operating Profit
Other Income/Expense, Net $490.0K -$1.010M
YoY Change -148.51% -524.37%
Pretax Income -$8.954M -$13.92M
YoY Change -35.67% 99.89%
Income Tax $334.0K $142.0K
% Of Pretax Income
Net Earnings -$9.288M -$14.06M
YoY Change -33.94% 99.26%
Net Earnings / Revenue -22.3% -145.52%
Basic Earnings Per Share
Diluted Earnings Per Share -$329.8K -$568.5K
COMMON SHARES
Basic Shares Outstanding 28.21M 24.88M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $163.2M $159.2M
YoY Change 2.5% 230.32%
Cash & Equivalents $48.76M $21.98M
Short-Term Investments $114.4M $137.2M
Other Short-Term Assets $6.100M $3.000M
YoY Change 103.33% 30.43%
Inventory $67.58M $18.24M
Prepaid Expenses
Receivables $29.04M $7.314M
Other Receivables $0.00 $0.00
Total Short-Term Assets $265.9M $187.8M
YoY Change 41.58% 179.45%
LONG-TERM ASSETS
Property, Plant & Equipment $5.862M $1.189M
YoY Change 393.02% 494.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.802M $2.333M
YoY Change -22.76% 366.6%
Total Long-Term Assets $8.570M $4.428M
YoY Change 93.54% 532.57%
TOTAL ASSETS
Total Short-Term Assets $265.9M $187.8M
Total Long-Term Assets $8.570M $4.428M
Total Assets $274.5M $192.2M
YoY Change 42.78% 183.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.77M $8.151M
YoY Change 44.45% 147.0%
Accrued Expenses $13.43M $5.218M
YoY Change 157.38% 86.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.35M $13.43M
YoY Change 88.78% 91.84%
LONG-TERM LIABILITIES
Long-Term Debt $19.80M $19.60M
YoY Change 1.02%
Other Long-Term Liabilities $518.0K $104.0K
YoY Change 398.08%
Total Long-Term Liabilities $518.0K $104.0K
YoY Change 398.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.35M $13.43M
Total Long-Term Liabilities $518.0K $104.0K
Total Liabilities $45.67M $33.10M
YoY Change 37.97% 372.89%
SHAREHOLDERS EQUITY
Retained Earnings -$198.7M -$136.0M
YoY Change 46.06%
Common Stock $427.9M $295.3M
YoY Change 44.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $228.8M $159.1M
YoY Change
Total Liabilities & Shareholders Equity $274.5M $192.2M
YoY Change 42.78% 183.09%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$9.288M -$14.06M
YoY Change -33.94% 99.26%
Depreciation, Depletion And Amortization $380.0K $46.00K
YoY Change 726.09% 187.5%
Cash From Operating Activities -$30.27M -$16.83M
YoY Change 79.86% 107.78%
INVESTING ACTIVITIES
Capital Expenditures $940.0K $228.0K
YoY Change 312.28% 109.17%
Acquisitions
YoY Change
Other Investing Activities -$7.670M $13.68M
YoY Change -156.07% 22.36%
Cash From Investing Activities -$8.610M $13.45M
YoY Change -164.01% 21.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $79.00K
YoY Change 172.41%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 630.0K 80.00K
YoY Change 687.5% 166.67%
NET CHANGE
Cash From Operating Activities -30.27M -16.83M
Cash From Investing Activities -8.610M 13.45M
Cash From Financing Activities 630.0K 80.00K
Net Change In Cash -38.25M -3.300M
YoY Change 1059.09% -210.0%
FREE CASH FLOW
Cash From Operating Activities -$30.27M -$16.83M
Capital Expenditures $940.0K $228.0K
Free Cash Flow -$31.21M -$17.06M
YoY Change 82.96% 107.8%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
28322494 shares
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21984000
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
290000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28304028 shares
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28304028 shares
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
427848000
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1882000
CY2016Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
19801000
CY2016Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8111000
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
228780000
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
518000
CY2016Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
951000
CY2016Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1954000
CY2016Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
147000
CY2016Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
186000
CY2016Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
11774000
CY2016Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
184000
CY2016Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13430000
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-198696000
CY2016Q1 us-gaap Liabilities
Liabilities
45670000
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
274450000
CY2016Q1 us-gaap Common Stock Value
CommonStockValue
28000
CY2016Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1083000
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
25351000
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-400000
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1802000
CY2016Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2016Q1 us-gaap Assets
Assets
274450000
CY2016Q1 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
148028000
CY2016Q1 us-gaap Inventory Net
InventoryNet
67576000
CY2016Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
29039000
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5862000
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
906000
CY2016Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
28693000
CY2016Q1 us-gaap Assets Current
AssetsCurrent
265880000
CY2016Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
5500000
CY2016Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
114439000
CY2016Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
114439000
CY2016Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
33600000
CY2016Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
114253000
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6068000
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48758000
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6945000
CY2016Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
38883000
CY2016Q1 nvro Accrued Clinical And Research Expenses Current
AccruedClinicalAndResearchExpensesCurrent
532000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25287000
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
290000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28143573 shares
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28143573 shares
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
424147000
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1492000
CY2015Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
19740000
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9857000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
234592000
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
462000
CY2015Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
583000
CY2015Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
2044000
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
121000
CY2015Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
132000
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
21887000
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
122000
CY2015Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14381000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-189408000
CY2015Q4 us-gaap Liabilities
Liabilities
56591000
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
291183000
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
28000
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
702000
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
36389000
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-175000
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1852000
CY2015Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2015Q4 us-gaap Assets
Assets
291183000
CY2015Q4 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
176382000
CY2015Q4 us-gaap Inventory Net
InventoryNet
62430000
CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
22522000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5794000
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
906000
CY2015Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
25334000
CY2015Q4 us-gaap Assets Current
AssetsCurrent
282631000
CY2015Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
5200000
CY2015Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
139823000
CY2015Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
106634000
CY2015Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
36600000
CY2015Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
139691000
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4009000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87036000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6496000
CY2015Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
37096000
CY2015Q4 nvro Accrued Clinical And Research Expenses Current
AccruedClinicalAndResearchExpensesCurrent
405000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-100400000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-67400000
CY2015 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-16829000
CY2015Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
27154 shares
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.57
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3315947 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24876383 shares
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24849229 shares
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
228000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-14060000
CY2015Q1 us-gaap Revenues
Revenues
9662000
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
175000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-12339000
CY2015Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3644000
CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1909000
CY2015Q1 us-gaap Gross Profit
GrossProfit
5789000
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1010000
CY2015Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
71000
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
704000
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
3741000
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-202000
CY2015Q1 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-472000
CY2015Q1 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
606000
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-14262000
CY2015Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-79000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13918000
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-123000
CY2015Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
104000
CY2015Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
360000
CY2015Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-492000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
142000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1218000
CY2015Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-13000
CY2015Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
207000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3303000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
18128000
CY2015Q1 us-gaap Interest Expense
InterestExpense
673000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
13447000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
79000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4998000
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1335000
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
79000
CY2015Q1 us-gaap Inventory Write Down
InventoryWriteDown
264000
CY2015Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
58000
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
18022000
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
13130000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3496000
CY2015Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
46000
CY2015Q1 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2015Q1 us-gaap Cost Of Revenue
CostOfRevenue
3873000
CY2015Q1 nvro Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
13000
CY2016Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-30265000
CY2016Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Business
CY2016Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
12404 shares
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 dei Amendment Flag
AmendmentFlag
false
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.33
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3372877 shares
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001444380
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2016Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b>Concentration of Credit Risk and Other Risks and Uncertainties</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents and investments. The majority of the Company&#x2019;s cash is held by one financial institution in the United States of America in excess of federally insured limits. The Company maintained investments in money market funds that were not federally insured during the periods ended March&#xA0;31, 2016 and December&#xA0;31, 2015. The Company also held cash in foreign banks of approximately $5.5 million at March&#xA0;31, 2016 and $5.2&#xA0;million at December&#xA0;31, 2015 that was not federally insured. The Company has not experienced any losses on its deposits of cash and cash equivalents.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Through December&#xA0;31, 2014, all of the Company&#x2019;s revenue had been derived from sales of its products in international markets, principally Australia and Europe. In May 2015, the Company launched sales in the United States upon receiving FDA approval to market and sell its products in the United States. In the international markets in which the Company participates, the Company uses both a direct sales force and distributors to sell its products, while in the United States the Company utilizes a direct sales force. The Company performs ongoing credit evaluations of its direct customers and distributors, does not require collateral, and maintains allowances for potential credit losses on customer accounts when deemed necessary.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> During the three months ended March&#xA0;31, 2016 and 2015, no single customer accounted for more than 10% of the Company&#x2019;s revenue. As of March&#xA0;31, 2016 and December&#xA0;31, 2015, no single customer accounted for 10% of the accounts receivable balance.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company is subject to risks common to medical device companies, including, but not limited to, new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, product liability, manufacturing quality and scaling, uncertainty of market acceptance of products and the need to obtain additional financing. The Company is dependent on third-party manufacturers and suppliers, in some cases sole- or single-source suppliers.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> There can be no assurance that the Company&#x2019;s products or services will continue to be accepted in its existing marketplaces, nor can there be any assurance that any future products or services can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products or services will be successfully marketed, if at all.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company expects to incur substantial operating losses in the near term and may need to obtain additional financing. There can be no assurance that such financing will be available or will be at terms acceptable by the Company.</p> </div>
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
NEVRO CORP
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Significant accounting estimates and management judgments reflected in the condensed consolidated financial statements include items such as allowances for doubtful accounts; clinical accruals; stock-based compensation; depreciation and amortization periods; inventory valuation; valuation of investments and deferred tax assets, including valuation allowances. Estimates are based on historical experience, where applicable, and other assumptions believed to be reasonable by the management. Actual results may differ from those estimates under different assumptions or conditions.</p> </div>
CY2016Q1 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
Limited one- to five-year warranty
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28206861 shares
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 dei Trading Symbol
TradingSymbol
NVRO
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28194457 shares
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
940000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-9288000
CY2016Q1 us-gaap Revenues
Revenues
41651000
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2059000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9017000
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6613000
CY2016Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-50000
CY2016Q1 us-gaap Gross Profit
GrossProfit
25987000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
490000
CY2016Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
80000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6583000
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
46270000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-225000
CY2016Q1 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
615000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9513000
CY2016Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
54000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8954000
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-279000
CY2016Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
215000
CY2016Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
261000
CY2016Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0
CY2016Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-53000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
334000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3055000
CY2016Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
56000
CY2016Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
600000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-38278000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
35004000
CY2016Q1 us-gaap Interest Expense
InterestExpense
642000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-8610000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
633000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6361000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-688000
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
633000
CY2016Q1 us-gaap Inventory Write Down
InventoryWriteDown
947000
CY2016Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
60000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-36000
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
38600000
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28643000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-9792000
CY2016Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
380000
CY2016Q1 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
66000
CY2016Q1 us-gaap Cost Of Revenue
CostOfRevenue
15664000
CY2016Q1 nvro Employee Stock Purchase Plan Offering Period
EmployeeStockPurchasePlanOfferingPeriod
P6M
CY2016Q1 nvro Unrealized Gains And Losses On Foreign Currency Translation
UnrealizedGainsAndLossesOnForeignCurrencyTranslation
-224000
CY2016Q1 nvro Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
13000

Files In Submission

Name View Source Status
0001193125-16-583945-index-headers.html Edgar Link pending
0001193125-16-583945-index.html Edgar Link pending
0001193125-16-583945.txt Edgar Link pending
0001193125-16-583945-xbrl.zip Edgar Link pending
d152001d10q.htm Edgar Link pending
d152001dex102.htm Edgar Link pending
d152001dex103.htm Edgar Link pending
d152001dex104.htm Edgar Link pending
d152001dex311.htm Edgar Link pending
d152001dex312.htm Edgar Link pending
d152001dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
nvro-20160331.xml Edgar Link completed
nvro-20160331.xsd Edgar Link pending
nvro-20160331_cal.xml Edgar Link unprocessable
nvro-20160331_def.xml Edgar Link unprocessable
nvro-20160331_lab.xml Edgar Link unprocessable
nvro-20160331_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending