Axonics, Inc. (NASDAQ:AXNX) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET

Company Participants

Neil Bhalodkar - Investor Relations

Raymond Cohen - Chief Executive Officer

Dan Dearen - President & Chief Financial Officer

Conference Call Participants

Adam Maeder - Piper Sandler

Cecilia Furlong - Morgan Stanley

Mike Matson - Needham & Company

David Rescott - Truist Securities

Michael Polark - Wolfe Research

Priya Sachdeva - SVB Securities

Operator

Good day. Thank you for standing by. And welcome to the Axonics' Q1 2022 Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to hand the conference over to your speaker today, Mr. Neil Bhalodkar, Axonic Investor Relations. Sir, the floor is yours

Neil Bhalodkar

Thank you. Good afternoon and thank you for joining Axonics' first quarter 2022 results and update call. Presenting on today's call are, Raymond Cohen, Chief Executive Officer, and Dan Dearen, President and Chief Financial Officer.

Before we begin, I would like to remind listeners that statements made on this conference call that relate to future plans, events, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995.

While these forward-looking statements are based on management's current expectations and beliefs, these statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause results to differ materially from the expectations expressed on this conference call.

These risks and uncertainties are disclosed in more detail in Axonics' filings with the Securities and Exchange Commission, all of which are available online at www.sec.gov. Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date, May 5th, 2022.

Except as required by law, Axonics undertakes, no obligation to update or revise any forward-looking statements to reflect new information, circumstances or unanticipated events that may arise.

With that, I'd like to turn the call over to Ray.

Raymond Cohen

Thanks Neil. And I'd like to welcome everyone joining this afternoon's call and those of you who may be dialing in later. We're very pleased with our first quarter 2022 results, considering the significant disruption that the Omicron variant had on elective procedures and health care facilities in January and February.

Sacral neuromodulation procedure volumes recovered nicely in March, and continued to trend favorably and have accelerated in April. With respect to the first quarter 2022 results, Axonics generated $48.4 million in revenue, representing an increase of 41% compared to 2021.