Earnings call transcript Q4 2022

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Operator

Good afternoon, and welcome to NeuroPace's Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

We will be facilitating the question-and-answer session towards the end of today's call.

As a reminder, this call is being recorded for replay purposes.

I would now like to turn the call over to Trip Taylor, from the Gilmartin Group, for a few introductory remarks.

Trip Taylor

operator. you, Thank thank and participating today's in Good you call. afternoon, for

fourth NeuroPace Joining released CEO; the the year press are the copy and available website. XXXX. from December financial and XX, ended Rebecca for release NeuroPace Favet, of today, Mike me A full Earlier Kuhn, results on is quarter Company's CFO.

safe Laws, forward-looking XXXX. management which harbor or the during this statements. statements or provisions Before I'd we relate this make of Act to pursuant like begin, made meaning that of results are the to Private forward-looking expectations Securities Any call Litigation Reform statements include predictions to during the events, will are of of future Federal the statements made remind Securities you performance that that within call

including our around clinical market expense prospects trends and based Accordingly, management, opportunities, market statements, those to impact undue are forward-looking statements. those material the business various outlook, opportunity, cause on assumptions. performance, revenue could that events business estimates those upon not of should our conditions, relating NeuroPace's COVID-XX and future operating and and commercial trials, recovery, All forward-looking results for and these involve or uncertainties and these statements. by materially actual differ risks implied to reliance These from on you place statements current financial expansion

filings of on ended quarter future. public associated December the may filed reports business, to report please annual our for our SEC the report and well the that refer with our with on we detailed Risk September more XX-K ended with uncertainties in as the XX, the as be Form our XXXX, the Factors the of XXXX, year any XX-Q For for XX, section file risks the descriptions SEC, SEC Form and to quarterly with including

whether as required contains or intention only to X, by March of except conference future disclaims or financial revise live because XXXX. statements, any any NeuroPace of which accurate otherwise. we is projections update as new or information, believe broadcast obligation, This call information, forward-looking time-sensitive this on law, or events

And Mike. with over that, the call will turn I to now

Michael Favet

Good update financial quarter the you are on the joining on will results for priorities opening and and Rebecca intending fourth turning the performance questions. highlight to I in afternoon, Trip. and our you to the Thanks, we us. before everyone, to XXXX, call over call to thank detail focus Today,

meaningful comprehensive accomplishments In we adding Before year or key as from want System, first of utilization centers. within increasing adoption the XXXX. drove RNS our highlight begin, I productive implanting a CECs, full to our our we more and company, a centers, public epilepsy

channel, of sales us U.S. who provides are became potential also established Therapy. distributor with revenue DIXI produced stream visibility but by through additional for diagnostic patients into the candidates through also the We being worked our Medical. not EEG products RNS exclusive an only the This stereo process

half epilepsy. of this second meaningful toward our of cash made through pivotal the specifically indication, accomplished study RNS also We all in burn first well us XXXX. $XX reducing approximately for to of provide how to the accomplishments I approximately XXXX million they XXXX million on in color beyond. compared and $XX for generalized primary while expanding progress We position more will and NAUTILUS the these half

period $X.X implant increased revenue growth of of This the X% RNS million, to of quarter by prior compared was prior the our period evidenced XX% primarily year strong driven and quarter by to compared and of initial XX% adoption representing year System, sequentially. with compared for XX% third fourth quarter XXXX. of to the the fourth representing was revenue Starting million, $XX.X our total performance, growth

line. in our We from slightly believe This at fourth this was quarter product ahead of expectations Medical throughout with patient stable unit, the $X.X quarter coupled contribution disruption the no distribution which significant products, monitoring was quarter volumes the since epilepsy first with or million EMU, revenue selling of DIXI remained of first XXXX.

in options, treatment of the use As the RNS. a including reminder, the is evaluation diagnostic EMU potential initial evaluating in step

the therapy candidates, Therapy. the interventional including in pipeline supports candidates EMU of RNS Stability for

continue We the returned RNS awareness and in System. operating pre-pandemic in benefit that of environment our differentiated have commercially clinical execute and levels to believe we not driving has the physician do one successful yet normalizing features and patient to been of

to that getting compared this XXXX. expect meaning to As we RNS a million the in trend of million seeing of million increasing result, are are momentum, benefit of Therapy. $XX $XX we a total more Considering $XX.X utilization, patients revenue XXXX

by growth driven Medical CEC of be selling year full a Our and DIXI primarily products. within will increasing utilization RNS the

by be offset remaining service life. Growth second-generation as will of reach devices replaced areas in by a first-generation are replacement the our with and declining implant revenue these nearly battery device XX-year end

is utilization increase RNS priority our Commercially, to of the System.

patient the adoption Our three, by prescribers three concentrates driving additional one, strategy system patient RNS the pipeline; selection; and implanting expanding centers. on of two, additional and managing objectives:

patient focused selection, is team expand To physician education. our on

stimulation of of Our is for the with the allows brain a versatile, the awareness RNS position the to full highly and benefits physician way all of goal subgroups. indicated that leads locations. focal System System onset increase throughout The range focal RNS treatment customize a detection of in is epilepsy epilepsy ability patient and to

across evidence working more will by of clinical this RNS of into for deeper patient We physicians. compelling their these RNS system treatment these integration are showing we ensure the broader to compiled Therapy understood inform help differentiated set believe and benefits patients. algorithms subgroups, data of have are a We

provided therapy evaluate gap more epilepsy to of close can to patients neurosurgeons benefits interventional working Therapy. by so RNS patients guiding also their the by realize are life-changing or drug-resistant that more epileptologists and treatment the We

in every patient and educating critical Our next increasing the earlier actively CECs, for through At and using RNS treatment level their efforts, the EEG products. the potential We with our stereo in journey top objective is are EMUs Medical manage direct-to-consumer field the of that DIXI to believe work identifying working RNS funnel. adding we team the utilization. within funnel, our patients the through of is patient weeds including

the help navigators these patients guide who nurse We diagnostic lead through utilize process.

also provide RNS We our utilization. pipeline end the that team our to to be a and key ambassadors. factor the commercial from network efforts patient end a believe on increasing patient therapy will We System of manage education patient RNS in through

patients with EEG a determine before exclusive As the lead, Most diagnostic most distributor EEG device seizures the intervention. is originate. are where localized are in resection used DIXI United we reminder, and the stereo Medical stereo ablation RNS of patients surgical being to which and epileptic States

system. providing our is engagement, where explaining patient greater stream, believe for is a was the first these Distribution of earlier the progress. voice by distributing are Medical stronger of we products the revenue opportunity not early an benefits only DIXI quarter have our we a can incremental products, encouraged and QX RNS and the but impact we

positive confident have a on patient will are partnership RNS We this pipeline. impact the

centers market, our we growth. contribute in sales enable to that has of will our a cover to adoption leverage Third, The by portion we to force and greater additional continue overall new to expansion intend and believe will driving more this on introduce completed also broadly. prescribers bringing to RNS system the team implanting and XXXX that enabled

in of increase revenue RNS are XXXX. designed System and commercial our initial CECs and the support utilization to three objectives growth These implant

provide I update on replacement revenue. an will now

decline XX% replacement quarter, to year prior was revenue $X.X of million, in represents expected, which the compared As the fourth a period.

to XX, it December forward treated first-generation do We devices. expect were not represent part we our not provide business XX XXXX, this XXXX. with patients going of plan actively material of there As as RNS in being to do metric a

to replacement have first-generation device completed we through of year second-generation end We the the quarterly devices replaced expect the as We believe continue with the sequentially transition with process will to XXXX. revenue battery. decline longer-lasting are the that a by remaining

of efficacy initiated clinical a our We to of treatment supplement to to for XXXX, System the trial from NAUTILUS enrollment RNS System this indication. the epilepsy intend In the the results our and top to The designed study. the expand study be Moving in study Generalized generalized primary is NAUTILUS continues to clinical priority. support safety evaluate our we updates. RNS PMA for epilepsy.

I in seeking enroll am are XX pleased now to to active study. sites patients that all participating report the and are

make to a type for a symptomatic Generalized with of generalized epilepsy syndrome, opportunity. epilepsy. study NIH-funded feasibility Lennox-Gastaut on represents continue patients progress also We the meaningful good market expansion

epilepsy, these epilepsy, not for applicable indication. of patients XX% diagnosis FDA-approved than patients these believe generalized have We resection is and no ablation and optimal this RNS simpler therapy and intervention and faster of for Therapy represents generalized that drug-resistant are patients as for epilepsy neuromodulation is focal epilepsy. there the for

expanded We across drove say our wrap can as that on our increased commercial look back To I our process. significant optimized to we field I make XXXX, We business. progress system proudly RNS team and have utilization. been able up,

for epilepsy by of while towards of second important $XX study stereo the generalized million Products We of did EEG. beginning in reducing We the study. expanding distribution in initiated to NAUTILUS the successfully LGS cash enrollment all our We DIXI made approximately this into burn our and Medical indication progress half XXXX.

accomplishments cash of and available at Collectively, beyond. the for end years have NeuroPace have million XXXX, burn this $XX of at two these rate, would available over With capital. than XXXX more of we positioned well

call I the full that, and Rebecca quarter year over to financial With fourth will the turn to detail now results.

Rebecca Kuhn

the growth fourth $XX.X of compared quarter of NeuroPace's sequentially representing $XX was to XXXX. quarter for XXXX third to Thanks revenue fourth the quarter the million in of for $XX.X Mike. of XX% and XXXX compared million XX% million,

grew due to quarter. compared implant in grew in was million procedure. revenue initial fourth to from XXXX. quarter, fourth million implant the compared largely In quarter Revenue $X.X initial the increase implant in million the The was in of for $X.X million fourth replacement to XXXX. to increase fourth from third compared $X.X an quarter quarter Sequentially, of revenue the X% the initial revenue $X.X XX% implants to

second-generation XXXX revenue to the decrease our devices through expect until completed device. end We expect revenue replacements we continue from transition the this we year. replacement the have second-generation means of after of only generally to that implant This to

second-generation ready more into a reach replacement. for this will and expect business of for our devices life We battery are be growth driver when the

margin Medical gross have compared year due margin fourth for RNS in period XX% in was prior DIXI margin to relative Gross primarily the lower XX% The quarter core our XXXX decline a the to business. gross distributing was of fourth which products, than to quarter of XXXX. the

our The level. the products, generally quarter operating Total same in that fourth quarter year. XXXX the of increase distributing million quarter compared period of fourth the XXXX in gross $XX.X $XX.X margins expect million was expenses and to Medical with DIXI prior first from of we were

the the third to in compared by costs including fourth Operating X% onetime DIXI expenses quarter. associated the Medical with quarter, launch, increased partnership

quarter. for As expected, in the decreased operating expenses our RNS quarter business third slightly to compared core fourth the

to initiatives by XXXX. the R&D R&D XXXX same expense quarter operating on was focus to primarily was in in of driven continue XXXX. million decrease with a The optimize expenses million to the plan period fourth We in $X.X expenses. of personnel-related decrease expense compared in through $X.X

XXXX increase fourth quarter in $XX.X The SG&A the from of XXXX of expense expenses was compared fourth year with million launch SG&A in Medical the $X by personnel-related was was compared operations the in million $X.X prior DIXI period. expenses. million million partnership in quarter period. and driven Loss the with year prior $XX.X primarily in

quarter in in was expense XXXX fourth of year $XX.X the the compared We Net quarter to million million fourth for interest million fourth of to in loss million period. XXXX. recorded $X.X the $X.X quarter in compared $XX.X the prior

balance as short-term half first cash $XX of million burn XX, the our approximately was million and second in Our half million the year investments in December to the $XX was approximately of the $XX.X of rate XXXX, and year. compared

as December million September full the with XXXX, Our long-term XXXX. $XX.X of borrowings on XX, principal XX, due totaled

Now turning to our outlook for XXXX.

implants we between supported and the expect mainly from sale DIXI will revenue initial increases and $XX in Growth XXXX, Medical range to products. $XX million. of million by revenue For be

replacement expected to discussed, is As this revenue year. decline

be in XXXX and revenue our Gross expected the to fourth the contribution. a generated potentially was XX% quarter, with full margin which from Medical quarter XX%, for XX% is between DIXI first improvement slight

in for agreement Fluctuations business. the base gross revenue the our lower revenue than As overall quarterly Medical our produces partnership, create will a that gross to revenue margin result margins. of DIXI DIXI distribution of variability the a small Medical proportion in

$XX expected expenses million $XX including XXXX million, expenses. to for noncash between Operating in are $XX range $XX and million million to

our burn Lastly, that half was the it highlight cash second $XX important is XXXX rate of to approximately for million.

to middle our cash We reduce controls to half discipline of of were able XXXX. half the to discipline year maintain because year. in that We the of second implemented the in compared of first the we the the in burn year and intend the starting of spending cost level

ongoing rate, of next Given have our to our do will cash balance need our capital a believe at raise reduce we XX in and not to the we burn efforts months. year-end XXXX

remarks. to prepared like will the the would to back now call This call open concludes who questions. operator, for our I turn the over

Operator

[Operator our Research. question Wolfe Polark from And Michael Instructions] first comes from

is now line open. Your

Michael Polark

Maybe in to indicator It top and start. obviously a terms the of patient Curious, admissions, Mike, steady of for new the for that's months the good sounds last assessment your were like of EMU leading XXXX nine of implants. funnel.

of To what how And last to the do the -- you element be do to catch-up months it from nine this you durable extent question then can here? is, And I of of and this? think what consistent other attribute any guess kind there's XXXX? angle

that's precluded saw think contributing back of you of half think admissions engaging can level the have we're might the patients year? be at you the Do in we're of to and stable system. The a from steady extended Or 'XX? sustained this state, you new do kind in a abnormally is COVID what in disruption that

Michael Favet

for Thanks Mike. question, Great. the

into that three last -- having I any disruptions or the we quarters we've Largely, last not the of year. to COVID-related attribute the had stability not have jumping seen significant So QX market since over in that so.

relatively of has to for back to from patients that's way limitations yet, -- epilepsy allowed back all had. the centers. perspective, pre-pandemic be of the we new been We epilepsy levels that through able centers don't the some primarily the staffing centers get stable to market believe to are coming that because The don't and a hospitals have normal that

not there getting So we're are of that COVID staffing disruptions, had. centers some but challenges have these

a call centers. staffing,. And pre-pandemic believe coming over to bring an expect, of working opportunity levels coming at I'll centers. what get time, volume there's are we're a that of really flow to in allowing we're them increase. through least surge I yet, back the that's the not seen not, given to and haven't we back makeup through I the that to are patients hospitals that the to that for do It's

to epilepsy epilepsy historically, growth, in the And created. patients coming pandemic, to volume through of centers, the market of more looking starting to where the hear driven being the out in to be which that centers are opportunity an hiring the around create centers, there's another surgeons then most And activity again, the centers to was grow more to that provides bring epileptologist prior overall. I'm able new by epilepsy for community

that's of patients being position I in COVID show So, number the treated, through and us able EMU offset of gains in to be the significant being through think share stability, able we've been declines coming a make to the these the EMU, disruptions, that within no patients by to coming centers. more not put the

Michael Polark

this early you And and more kind DIXI? the that DIXI visibility of learning then for maybe flow days and what are manage I was I it's And guess, with know patients upstream with you the is this Helpful. with follow-up agreement. helping distribution the hook funnel identify into funnel. better? And of But part

Michael Favet

Yes. Like days. you said, early

and a or like now into U.S. product. so we're the half the quarter distribution of DIXI So a

And so field is much we strong. very anticipated. with far, been had The it's what very our synergy organization

about. able very And that organization, so commercial and our to sell to product good our to I be feel support ability

of the the lead to insight going to than selling that with X System. more what use anecdotes the many better more are -- centers, to patients I'm those to in evidence, provide -- and patients implant, opportunity like patients we're through consistent to flow on coming anecdotes early hypothesis the broad to able early then to into RNS epilepsy is And call sales spread where therapies get but able them percentage happening the RNS through that moving are Phase be a to being system get how that opportunities studies the higher the of able

have us than but pipeline. think anything anecdote am sales by as very encouraged days, beyond well I the the early say going as on we can synergy impact to the So for more that's both that that I that,

Operator

And and Frank Street Capital comes for next. thank one next Lake you And our moment Takkinen from from our question Markets.

open. Your line now is

Frank Takkinen

to Congrats the and implants a lot DIXI and with about comments hit the top to progress. just initial how low start I needs to on could your Can What then through end? hit walk to What the end? of about end the wanted occur the And heard the end I one growth, on -- happen drivers top replacements. guidance. needs the bottom offset versus thinking what's by upside clear maybe you of guide? to of to occur to kind what exceed end? the the scenario you're top

Michael Favet

Great. to able against forward looking XXXX. to Thanks, Frank, execute being in and this this

and implants drivers. stated, the being initial system drivers are you of the RNS revenue growth As growth of DIXI system the

pieces component, DIXI to a to much market the able that market. are combination be product of the take I growth build we about to going for how off of be The quarter be in share giving us able in started where that are feel year, behind we very to of it's about and fourth that, a nice good of. distribution base that the last the to going

for the coming recovers. and the majority recover the there that market significant again over fast of quarters three revenue recovers range building is last market from revenue, then how element continues that the from the market fast NeuroPace does our normalization XXXX. We're And of we've which expectations that is into how that, -- the the through RNS comes the seen an

upside grows and that from we of upside back is us recovers XXXX XXXX quickly, market levels. more if that provided. with the terms range There provides That in levels to for more the gets meaning

about centers. these to the of for implant the within more effectiveness we is implants be of the how other pipeline utilization. grow patients commercial manage increase can that's through. utilization coming initial primary going driver factor the The work fast initial that then And and doing is fast the primary to growth be the we're we how going to And efforts

more that of that system is into for to we goes as of centers revenue taking other and how provides The centers to expand factor that more able steps new some many to range We're access RNS be that can on. so bring well. patients,

Frank Takkinen

around specific you Can around expectations? generalized you Okay. That's one helpful. unable second for some if to maybe numbers, patient on then a if maybe can update share my completion give And for enrollment, population. any provide and the enrollment timing the goalposts

Michael Favet

Yes. Thanks for the question.

I'm So of the to brought study we those that driving all really go really through to into excited able have as this focus centers point, now on so through XXXX at centers. enrollment being

expectation take to stand us enroll year we that the a from patients where is the of going it's remaining the to order the NAUTILUS now in But study. on

done that all being really that have of the but as we it's to be get order able We be on to year to process. going efforts able soon get can, as a order around an expect to on through that about --

then trial. be a it's -- the to of and one-year so of medical the about able we endpoint to the we excitement quality number within primary get of follow-up for A participate to pleased that this, the the community in very the but process sites be about and able online. to getting the for And very were were it's through a sites as reminder, lot happy study, that

Operator

next And from question next our And question. and our moment Robbie one comes from thank JPMorgan. Marcus you for

is now line Your open.

Allen Gong

quarter. what trends going Allen year? in to just good on I you're XQ sounds so seasonality through And that to balance the just seeing some in the It like then from see stability, the XQ, first seeing This on you're far you're just one for and the quick Robbie. what seeing implies first for quarter? also curious had a but is of

Michael Favet

saw with that units Yes. been What the the epilepsy in XXXX. COVID-related quarters, the the the couple that extends seeing of has first monitoring normalizing last through start the again in last we three in of period we've have seen of time. been meaning of epilepsy been consistent disruptions we've first quarter months No quarters in what XXXX, three of significant over what centers which the

I XXXX year. within puts be position months continuation nice we That as epilepsy on in center focus And able of the come a of where the be first share us to we of to started overall, through. to a think, kind those to into this have couple the of gains exited able

Allen Gong

Got then think fourth we that of it. it roughly it? in a little being a quarter. right And XXXX loaded? more still came color the And back-end when $X about kind thinking about were We you bit way around million the any as DIXI, that about Is in contribution. for to think think cadence on stronger

Michael Favet

good for I going was, The think way the that's some is baseline I business revenue, we growth potential. There's, it. associated for say, that potential expect that DIXI think, quarter forward. Yes. about revenue would the growth where fourth I a There with

wasn't would million U.S. about of fourth distributing abnormal doing anything There that I themselves. as a about in being in was work directly $X.X when it was they continuation DIXI of But build able quarter, that a the it quarter. fourth had off that think were of the meaning quarter, stocking the was wasn't the we to it the revenue

up quarter, fourth were pick to able and that the we that. to continue Prior

of go XXXX. as to off run X.X kind baseline we the as think being about So of and able then through that

Operator

you thank our Larry one question and comes moment for next question. from And Fargo. Wells next our And from Biegelsen

mute, now please And unmute you could is question moment if One Vik on from Larry, next Fargo. line from open. Wells it. comes your please. line's Chopra Your our

Your is now line open.

Vik Chopra

for what is Vik Larry. I'm in not sure happened. This

should we for follow-up. Medical me. DIXI for of about a just have the your couple About XXXX, us but XXXX, comments for given understand And agreement? the help cadence So think I the gross on questions how margins a

Michael Favet

to want you do that? Rebecca, cover

Rebecca Kuhn

Sure.

DIXI DIXI, and our business obviously, gross what or for margin a upside the on core XXXX, We're gross business. based gross the be within expecting unusual fourth our our mix. looking revenue quarter. potential there -- that fluctuations in so some for mix as lower year margin we're core has XX% between margin than the XX% anything not between we by expecting saw no RNS So the will revenue progresses, really and major influenced and in

Vik Chopra

And my expect Mike, XXXX? in your new to pace follow-up, could But at add help us then what centers comments. Okay. forward understand you got you I going

Michael Favet

question. Yes. the for Thanks

last the we XXX, centers. year. with during last the XXXX the implanting -- our of growth year centers in Most So increased for That XXX from centers finished implant year year, XXX initial the year. from up prior came revenue the was revenue those utilization within

As expand United that we through into opportunity add expect taking continue we're the to head within XXXX, the and year. system access steps for some to RNS States sensors the the we'll to

XXX So through as move we off building the year. that

forward, number go I expect terms driver what of going to of be some that a for provide in we I'll centers. that's able continue clarity additional about to to be As means But growth expect that, for us.

from said, being within to system come the increased expecting of center. primarily, increase the utilization we're the RNS adoption in That

treated we've So, -- But even through on being U.S. more of this be to centers. RNS make to able broadly XXX those base some working more got more available getting centers, patients we're the within that things

Operator

and question Morgan Stanley. from comes for from next. thank you next our And Drew our Ranieri And moment one

Your line is open. now

Drew Ranieri

you but revenue, of Maybe on to comments some XXXX, take patients I think remaining. I put if around XX just replacement math your have kind

kind teens your Your guide commentary, patient new it here. implant growth high like of year initial for the given in DIXI might looks the be

getting at it kind the stability? grow truly in new XXXX low get of So to Do to Is Is you a talked mid-XXs growth to just visits case? you've do to EMU you in just curious rate? more normalized about XXXX? back like about you of of do back that think that can Or to that kind implants still levels kind patient need see that environment.

Michael Favet

question, we for So the have thanks Drew. --

have to coming of with treated the lot through continue epilepsy centers RNS system. and of more the take to the get them a opportunity We patients

share taking that been patients the epilepsy the talking coming through we've about. So centers of

that if that the can expect opportunity that, and get then impact increasing, to we unit contribute grow there's time that epilepsy an monitoring provides And contribute are with growth -- of where a will numbers to over that's more can obviously that. With quickly. positively said, that, back point to that those for admissions the market

the We're epilepsy admissions in changes monitoring banking in to that guidance provided. not unit significant we

So upside see if able year. opportunity for that the we're provides some through to that

So the whatever we market happening that and taking just cautious, about that if we of within understanding a overall volume will there's that lot patients coming to be will, share to being expect EMU, execute do the is. you and that can on what's through able

Drew Ranieri

And maybe study the of lot epilepsy. but high-level a talking you're questions, about just the it. on Got two NAUTILUS excitement there and potential and generalized

DIXI, maybe another you're focal to how opportunities partnership additional foresee Do then revenue? growing? interested, second, even just as having the you augment effect is is halo revenue it's patients in all more at you having on come online, So any any with giving interest side centers RNS or as maybe driving through 'XX it in stream? epilepsy treating And epilepsy

Michael Favet

Yes. Thanks, Drew.

are comment the halo the centers doing specifics think not focal lot on comment that centers that studies doing RNS, about will of to I participating with the early are RNS that effect. much not any it's too a But epilepsy are NAUTILUS some I indication. in of very

opportunity us approved about indication some and is And system talking so halo have that's the already within time there. providing an touch centers. there that's RNS with the think the back effect I do benefit those for to to more them,

points more response a broader more set about to neuromodulation. And points think -- good and talking and thing of so, a have patients all touch benefit us for it's that's talking talk with of clinicians I about the

the can comment system not able We the well I'm going do for where we'll revenue of it, be and organization that and DIXI of on creatively be product to specific impact how nothing have be to top-end opportunities, most we'd sales but the DIXI the the in would I Medical as as always there about a make U.S., XXXX. RNS comment that looking now think we for selling As other specifically. could on

Operator

the call turn questions. for back am closing showing I remarks. would to And no over like I to Mike further now

Michael Favet

again upcoming for to Thank you a evening. talking today. you at to our or all Great. good participation Have QX look forward I on conferences. earnings your investor

Operator

you today's concludes conference for This participating. call. Thank

now may You disconnect.

NeuroPace (NPCE) 2 Mar 232022 Q4 Earnings call transcript