NeurAxis (NRXS) Q3 Earnings call transcript Nov 12, 2024

Daily EarningsTuesday, Nov 12, 2024 9:19 pm ET

1min read

In NeurAxis's third quarter earnings call of 2024, the company highlighted its significant achievements, particularly in the commercialization of its IB-Stim technology and the pending product RED. The call, led by CEO Brian Carrico and CFO Tim Henricks, provided insight into the company's growth trajectory and future plans.

A Strong Quarter of Growth and Achievements

NeurAxis reported a 40% year-over-year growth in the third quarter, marking a significant milestone in the company's history. This growth was driven by the successful commercialization of its flagship technology, IB-Stim, and the recent FDA clearance for an age expansion of the product. The company's focus on strong peer-reviewed publications and key society support has led to significant early insurance adoption, positioning NeurAxis for exponential revenue growth in the future.

The Importance of Insurance Policy Coverage and FDA Expansions

Brian Carrico emphasized the importance of insurance policy coverage and FDA expansions in driving revenue growth. The company's recent successes, including the Category 1 CPT code for IB-Stim and the FDA clearance for a patient population expansion, are expected to significantly increase revenue in the coming quarters. Carrico also shared his optimism about the upcoming commercialization of RED, a point-of-care device for identifying patients with pelvic floor dysfunction.

Looking Ahead to 2025 and Beyond

NeurAxis is bullish about its future prospects, with a focus on continued growth and achieving cash flow breakeven. The company's strong financial position, bolstered by recent financings, positions it well for the future. Looking ahead to 2025, NeurAxis expects meaningful revenues from RED and the continued growth of IB-Stim, fueled by expanded insurance coverage and the FDA indication expansion.

A Promising Outlook for NeurAxis

NeurAxis's third quarter earnings call painted a picture of a company on the rise. With a strong focus on research, clinical evidence, and strategic partnerships, NeurAxis is well-positioned to capitalize on the growing demand for its innovative technologies. The company's achievements in the third quarter serve as a testament to its commitment to improving patient care and delivering sustainable growth for investors. As NeurAxis moves into the final quarter of 2024 and looks ahead to 2025, the future is bright for this promising company.

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