Nevro Corp. (NYSE:NVRO) shares plunged nearly 20% intra-day today after the company announced that it lowered its revenue guidance for Q2/23 and announced a new Chief Commercial Officer (CCO).
Management cut its Q2 revenue guidance range to $106-$108 million (up 2-4% year-over-year) from prior $110-$112 million (up 6-8% year-over-year). The company plans to provide additional updates, including updated fiscal 2023 guidance at the Q2 earnings call on Aug 1.
Separately, the company announced Greg Siller as SVP and CCO effective June 19, underscoring their commitment to commercial execution.