$NVRO
NEVRO CORP

2021 Q3 Form 10-Q Financial Statement

#000156459021055298 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q1
Revenue $93.21M $108.5M $87.47M
YoY Change -14.07% 8.28% 6.47%
Cost Of Revenue $28.58M $32.40M $26.90M
YoY Change -11.81% 7.21% -7.05%
Gross Profit $64.63M $76.08M $60.55M
YoY Change -15.05% 8.77% 13.79%
Gross Profit Margin 69.34% 70.14% 69.22%
Selling, General & Admin $79.52M $68.50M $71.40M
YoY Change 16.09% -6.04% -12.2%
% of Gross Profit 123.04% 90.04% 117.93%
Research & Development $11.55M $11.10M $12.21M
YoY Change 4.08% -14.74% -13.6%
% of Gross Profit 17.88% 14.59% 20.17%
Depreciation & Amortization $1.220M $1.174M $1.296M
YoY Change 3.92% 5.58% 19.45%
% of Gross Profit 1.89% 1.54% 2.14%
Operating Expenses $91.07M $79.60M $83.61M
YoY Change 14.41% -7.36% -12.41%
Operating Profit -$26.44M -$3.549M -$23.07M
YoY Change 645.11% -77.8% -45.41%
Interest Expense -$3.589M -$6.200M $2.826M
YoY Change -42.11% -325.05% 5.13%
% of Operating Profit
Other Income/Expense, Net $30.00K $0.00 $47.00K
YoY Change -100.0% -113.7%
Pretax Income -$50.00M -$9.800M -$24.60M
YoY Change 410.23% -43.77% -43.75%
Income Tax $72.00K $200.0K $300.0K
% Of Pretax Income
Net Earnings -$50.08M -$9.985M -$24.89M
YoY Change 401.5% -44.05% -43.53%
Net Earnings / Revenue -53.73% -9.21% -28.45%
Basic Earnings Per Share -$1.44
Diluted Earnings Per Share -$1.436M -$290.7K -$783.0K
COMMON SHARES
Basic Shares Outstanding 34.88M
Diluted Shares Outstanding 34.88M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $376.6M $572.9M $247.5M
YoY Change -34.27% 146.13% 3.3%
Cash & Equivalents $81.49M $119.6M $137.3M
Short-Term Investments $295.7M $454.2M $111.2M
Other Short-Term Assets $7.036M $6.500M $8.400M
YoY Change 8.25% 0.0% 2.44%
Inventory $91.80M $84.15M $92.98M
Prepaid Expenses
Receivables $63.46M $78.70M $64.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $538.9M $742.3M $413.6M
YoY Change -27.41% 85.2% 0.88%
LONG-TERM ASSETS
Property, Plant & Equipment $20.30M $12.23M $11.16M
YoY Change 65.96% 4.38% -69.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.062M $4.900M $14.50M
YoY Change 3.31% -58.87% 27.3%
Total Long-Term Assets $43.56M $36.10M $46.40M
YoY Change 20.67% -23.09% -3.56%
TOTAL ASSETS
Total Short-Term Assets $538.9M $742.3M $413.6M
Total Long-Term Assets $43.56M $36.10M $46.40M
Total Assets $582.4M $778.4M $460.0M
YoY Change -25.18% 73.85% 0.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.76M $24.50M $19.90M
YoY Change 33.69% 23.93% -13.76%
Accrued Expenses $37.63M $44.47M $37.34M
YoY Change -15.38% -1.28% -4.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $166.6M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $74.85M $239.4M $60.90M
YoY Change -68.74% 250.37% -6.37%
LONG-TERM LIABILITIES
Long-Term Debt $148.8M $139.5M $162.4M
YoY Change 6.67% -11.86% 5.23%
Other Long-Term Liabilities $39.57M $19.70M $2.050M
YoY Change 100.88% 1050.7% -91.67%
Total Long-Term Liabilities $188.4M $159.2M $2.050M
YoY Change 18.33% -0.49% -98.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $74.85M $239.4M $60.90M
Total Long-Term Liabilities $188.4M $159.2M $2.050M
Total Liabilities $263.2M $398.7M $244.9M
YoY Change -33.98% 59.71% 11.63%
SHAREHOLDERS EQUITY
Retained Earnings -$594.1M -$485.7M -$434.7M
YoY Change 22.32% 22.65%
Common Stock $651.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $319.2M $379.8M $215.1M
YoY Change
Total Liabilities & Shareholders Equity $582.4M $778.4M $460.0M
YoY Change -25.18% 73.85% 0.41%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q1
OPERATING ACTIVITIES
Net Income -$50.08M -$9.985M -$24.89M
YoY Change 401.5% -44.05% -43.53%
Depreciation, Depletion And Amortization $1.220M $1.174M $1.296M
YoY Change 3.92% 5.58% 19.45%
Cash From Operating Activities -$15.36M $11.33M -$5.181M
YoY Change -235.59% -436.2% -76.13%
INVESTING ACTIVITIES
Capital Expenditures -$3.675M -$1.400M $830.0K
YoY Change 162.5% 112.12% 43.1%
Acquisitions
YoY Change
Other Investing Activities -$44.51M -$168.7M $61.12M
YoY Change -73.62% 1321.57% 516.13%
Cash From Investing Activities -$48.19M -$170.1M $60.29M
YoY Change -71.68% 1256.7% 545.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.325M 760.0K 16.18M
YoY Change -274.34% -74.67% 811.95%
NET CHANGE
Cash From Operating Activities -15.36M 11.33M -5.181M
Cash From Investing Activities -48.19M -170.1M 60.29M
Cash From Financing Activities -1.325M 760.0K 16.18M
Net Change In Cash -64.87M -158.0M 70.92M
YoY Change -58.95% 1124.17% -771.49%
FREE CASH FLOW
Cash From Operating Activities -$15.36M $11.33M -$5.181M
Capital Expenditures -$3.675M -$1.400M $830.0K
Free Cash Flow -$11.69M $12.73M -$6.011M
YoY Change -191.81% -569.74% -73.03%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
nvro Employee Stock Purchase Plan Offering Period
EmployeeStockPurchasePlanOfferingPeriod
P6M
CY2021Q3 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
20000000
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
20000000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2555000
us-gaap Interest Expense
InterestExpense
15939000
us-gaap Interest Expense
InterestExpense
15311000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-515000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-645000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-100614000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-75378000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
612000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
558000
us-gaap Net Income Loss
NetIncomeLoss
-101226000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-651000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
289000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-127000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
73000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-778000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
362000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-102004000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-75574000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.91
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.27
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34774423
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33398454
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
388460000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1331000
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2801000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9235000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-29561000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-459000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
366205000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
305000
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2314000
CY2021Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4648000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11032000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-21590000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
90000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
358376000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
51000
CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1375000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12634000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-50075000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-409000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
319202000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
216352000
nvro Repayment From Investment In Private Company
RepaymentFromInvestmentInPrivateCompany
-7500000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10610000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
215080000
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
147144000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
48340000
CY2020Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2441000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13971000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-9985000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
605000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
379780000
CY2020Q2 nvro Adjustments To Additional Paid In Capital Purchase Of Bond Hedges
AdjustmentsToAdditionalPaidInCapitalPurchaseOfBondHedges
52390000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
34933000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
8357000
CY2020Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1551000
CY2020Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4690000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3202000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-2654000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26722000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10668000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
354614000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
437516000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
601171000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
155646000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
17364000
CY2020Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1187000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8483000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-24888000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1044000
us-gaap Profit Loss
ProfitLoss
-101226000
us-gaap Profit Loss
ProfitLoss
-75936000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3470000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3654000
nvro Amortization Of Operating Lease Asset
AmortizationOfOperatingLeaseAsset
2806000
nvro Amortization Of Operating Lease Asset
AmortizationOfOperatingLeaseAsset
2521000
us-gaap Share Based Compensation
ShareBasedCompensation
32908000
us-gaap Share Based Compensation
ShareBasedCompensation
32537000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1008000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-130000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-1222000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2395000
us-gaap Inventory Write Down
InventoryWriteDown
3707000
us-gaap Inventory Write Down
InventoryWriteDown
4216000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
10759000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
10510000
nvro Unrealized Gains And Losses On Foreign Currency Translation
UnrealizedGainsAndLossesOnForeignCurrencyTranslation
-2753000
nvro Unrealized Gains And Losses On Foreign Currency Translation
UnrealizedGainsAndLossesOnForeignCurrencyTranslation
122000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-14983000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1459000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
23236000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-3237000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2878000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3315000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
416000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1858000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
17896000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8716000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4718000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-6516000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
16684000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3387000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
235947000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-277757000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
147144000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
189750000
nvro Payments Of Convertible Notes Debt Issuance Costs
PaymentsOfConvertibleNotesDebtIssuanceCosts
6105000
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
34933000
us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
52390000
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
172500000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6491000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5179000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
6334000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
33613000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-172657000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
341766000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-280000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-86000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36288000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
53255000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
45203000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
66329000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
81491000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
119584000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
482000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1032000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-83100000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1200000
us-gaap Net Income Loss
NetIncomeLoss
-101200000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26700000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-594100000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-492800000
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1868750
CY2020Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
147100000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q3 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-745000
CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-493000
CY2021Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
787000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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; warranty obligations; clinical accruals; stock-based compensation; depreciation and amortization periods; inventory valuation; valuation of investments; loss contingencies; and accounting for income taxes. 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>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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’s cash is held by one financial institution in the United States and is in excess of federally insured limits. The Company maintained investments in money market funds that were not federally insured during the periods ended September 30, 2021 and December 31, 2020.  The Company also held cash in foreign banks of approximately $8.5 million at September 30, 2021 and $17.6 million at December 31, 2020 that was not insured. The Company has not experienced any losses on its deposits of cash and cash equivalents.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">During the three and nine months ended September 30, 2021 and 2020, no single customer accounted for 10% or more of the Company’s revenue. As of September 30, 2021 and December 31, 2020, no single customer accounted for 10% or more of the accounts receivable balance.</p>
CY2021Q3 nvro Bad Debt Expense
BadDebtExpense
14000
nvro Bad Debt Expense
BadDebtExpense
100000
CY2020Q3 nvro Bad Debt Expense
BadDebtExpense
700000
nvro Bad Debt Expense
BadDebtExpense
2700000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y5M1D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1373000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5618000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5892000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6069000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2792000
CY2021Q3 nvro Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
2382000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24126000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3487000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
20639000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1234000
us-gaap Operating Lease Cost
OperatingLeaseCost
3901000
us-gaap Operating Lease Cost
OperatingLeaseCost
3702000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18196000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18142000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4360000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3876000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16279000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16689000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
20639000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
20565000
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1373000
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1247000
us-gaap Operating Lease Payments
OperatingLeasePayments
3880000
us-gaap Operating Lease Payments
OperatingLeasePayments
3676000
CY2021Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
23300000
CY2020Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
16300000
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
28000
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
28000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
337929000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
152000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
25000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
543373000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
279648000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
279662000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
58281000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
58267000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
337929000
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
42627000
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
34405000
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
49175000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
48891000
CY2021Q3 us-gaap Inventory Net
InventoryNet
91802000
CY2020Q4 us-gaap Inventory Net
InventoryNet
83296000
CY2021Q3 nvro Inventory Write Down Cash And Non Cash
InventoryWriteDownCashAndNonCash
700000
CY2020Q3 nvro Inventory Write Down Cash And Non Cash
InventoryWriteDownCashAndNonCash
900000
nvro Inventory Write Down Cash And Non Cash
InventoryWriteDownCashAndNonCash
3700000
nvro Inventory Write Down Cash And Non Cash
InventoryWriteDownCashAndNonCash
4200000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
41546000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31304000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21243000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17773000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20303000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13531000
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1220000
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1174000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3470000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3654000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
26049000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
30971000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5446000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2101000
CY2021Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
471000
CY2020Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1191000
CY2021Q3 nvro Accrued Clinical And Research Expenses Current
AccruedClinicalAndResearchExpensesCurrent
347000
CY2020Q4 nvro Accrued Clinical And Research Expenses Current
AccruedClinicalAndResearchExpensesCurrent
668000
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1548000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4776000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6127000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
37633000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
43305000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2900000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2900000
us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
limited one- to five-year warranty
CY2020Q2 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
933000
CY2020Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
699000
CY2019Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
1178000
CY2021Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
622000
CY2020Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
686000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1899000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1409000
CY2021Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
900000
CY2020Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
628000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2054000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1596000
CY2021Q3 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
544000
CY2020Q3 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
991000
CY2021Q3 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
544000
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
20000000.0
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-50075000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-9985000
us-gaap Net Income Loss
NetIncomeLoss
-101226000
us-gaap Net Income Loss
NetIncomeLoss
-75936000
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34878443
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34356936
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34774423
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
33398454
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.44
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.29
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.91
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.27
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7170026
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9222447
CY2021Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
200000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
2800000
CY2020Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
200000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
2500000

Files In Submission

Name View Source Status
0001564590-21-055298-index-headers.html Edgar Link pending
0001564590-21-055298-index.html Edgar Link pending
0001564590-21-055298.txt Edgar Link pending
0001564590-21-055298-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
nvro-10q_20210930.htm Edgar Link pending
nvro-10q_20210930_htm.xml Edgar Link completed
nvro-20210930.xsd Edgar Link pending
nvro-20210930_cal.xml Edgar Link unprocessable
nvro-20210930_def.xml Edgar Link unprocessable
nvro-20210930_lab.xml Edgar Link unprocessable
nvro-20210930_pre.xml Edgar Link unprocessable
nvro-ex311_6.htm Edgar Link pending
nvro-ex312_8.htm Edgar Link pending
nvro-ex321_7.htm Edgar Link pending
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
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.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