Nevro Corp rises on job cuts, better-than-expected prelim Q4 revenue

Nevro

09/01/2024 19:00

** Shares of medical device maker Nevro Corp  NVRO.N  rise
1.5% to $20 in afternoon trade
    ** Co to layoff 5% of its workforce as part of restructuring
plans, which it expects to be substantially complete by the end
of Q1
    ** Expects restructuring to have a $14 mln- $15 mln positive
impact on its FY2024 adjusted EBITDA - NVRO
    ** Co reports preliminary Q4 revenue of about $116 mln,
beating analysts' estimates of $110.1 mln - LSEG data
     ** Co reports 2023 prelim revenue of about $425 mln
compared to estimates of $418.7 mln
    ** Stock fell 45.7% in 2023
   

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))