Nevro Corp. provided financial guidance for the fourth quarter of 2022 and for full-year 2022 and 2023. The company currently expects full-year 2023 worldwide revenue of approximately $445 million to $455 million, an increase of 10% to 12% over prior year. This full-year 2023 guidance includes approximately $75 million to $85 million of PDN revenue, an increase of 56% to 77% over prior year. This guidance assumes the full year of 2023 will see a steady recovery and includes no significant business impact from new COVID variants or waves and its related impacts on patient willingness to seek elective care, and near-term improvement in healthcare facility restrictions and steady improvement in healthcare facility staffing limitations.

Nevro's preliminary, unaudited full-year 2022 worldwide revenue is expected to be approximately $406.4 million, an increase of 5% as reported or an increase of 7% on a constant currency basis, compared to $386.9 million for full-year 2021. Worldwide revenue for 2022 includes approximately $48.0 million of revenue for PDN, compared to $5.7 million for full-year 2021. Preliminary, unaudited full-year U.S. revenue is expected to be approximately $348.2 million, reflecting growth of 7% over $326.2 million in the prior year period. Preliminary, unaudited full-year international revenue is expected to be approximately $58.2 million, a decrease of 4% as reported or an increase of 6% on a constant currency basis, compared to $60.7 million in the prior year period.

Preliminary, unaudited fourth quarter 2022 worldwide revenue is expected to be approximately $113.8 million, an increase of 11% as reported and 12% on a constant currency basis, compared to $102.8 million in the fourth quarter of 2021. PDN represented approximately $17.3 million in revenue and 16% of worldwide permanent implant procedures in the fourth quarter of 2022. Preliminary, unaudited fourth quarter 2022 U.S. revenue is expected to be approximately $99.8 million, reflecting growth of 13% over $88.4 million in the fourth quarter of 2021. Fourth quarter U.S. trial procedures were up approximately 9% versus prior year. Fourth quarter U.S. PDN trial procedures represented approximately 20% of total U.S. trial volume and grew approximately 15% sequentially over the third quarter of 2022. Preliminary, unaudited fourth quarter 2022 international revenue is expected to be approximately $14.1 million, a decrease of 2% as reported or an increase of 9% on a constant currency basis, compared to $14.3 million in the fourth quarter of 2021.