Strong Revenue Growth and Record Quarter
Record sales in the December quarter; last 12 months sales up ~24% year-over-year overall, with management reporting continuing momentum into January.
Robust U.S. Performance and High CAGR
United States revenue growth of ~27% over the last 12 months and a reported 40% compound annual growth rate (CAGR) in the U.S. over the last six halves.
Procedure Volume and Market Traction
Run rate of ~17,000 procedures in the last 12 months and ~180,000 iTrack procedures performed globally to date, indicating sustained clinical adoption.
High Sales Productivity
Sales productivity reported as nearly $2.0 million revenue per sales rep in the last quarter, described as industry-leading and a key driver of operating results.
Regulatory Approvals, Reimbursement and Clinical Evidence
Device is FDA-approved and reimbursed by U.S. Centers for Medicare & Medicaid Services; management emphasized robust registry/real-world clinical evidence with a first peer-reviewed registry paper expected imminently.
Improving Operating Cash Flow and Operational Capacity
Management reported positive operating cash flow in the December quarter and a month-over-month cash increase in December; capacity to scale production from an FDA-approved Fremont factory; improvement in cost of goods sold with volume.