CVRx, Inc. (NASDAQ:CVRX) Q2 2023 Earnings Conference Call July 25, 2023 5:30 PM ET

Company Participants

Mike Vallie – Senior Vice President-ICR Westwicke

Nadim Yared – President and Chief Executive Officer

Jared Oasheim – Chief Financial Officer

Conference Call Participants

Matthew O’Brien – Piper Sandler

Margaret Kaczor – William Blair

Bill Plovanic – Canaccord Genuity

Alex Nowak – Craig-Hallum

Frank Takkinen – Lake Street Capital Markets

Operator

Greetings, and welcome to the CVRx Q2 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Mike Vallie. Thank you, Mike. You may begin.

Mike Vallie

Good afternoon. Thank you for joining us today for CVRx's second quarter 2023 earnings conference call. Joining me on today's call are the company's President and Chief Executive Officer, Nadim Yared; and Chief Financial Officer, Jared Oasheim. The remarks today will contain forward-looking statements, including statements about financial guidance. The statements are based on plans and expectations as of today, which may change over time.

In addition, actual results could differ materially due to a number of risks and uncertainties, including those identified in the earnings release issued prior to this call and in the company's SEC filings, including the upcoming Form 10-Q that will be filed with the SEC.

I would now like to turn the call over to CVRx's President and Chief Executive Officer, Nadim Yared.

Nadim Yared

Thank you, Mike, and thanks to everyone for joining us. I'll begin today's call by providing an overview of our second quarter performance, followed by an operational update and a review of our financial results by our CFO, Jared Oasheim. Then I will conclude with our thoughts for the rest of the year before turning to Q&A.

We are thrilled to share that we had another excellent quarter. The nearly 120% year-over-year growth that we delivered in the U.S. exceeded our expectations and is highlighted by the strength in volumes, the expansion of the new U.S. active implanting centers and the development of our new customer pipeline. Importantly, we are continuing to receive very positive feedback from physicians regarding their own experience when using our Barostim therapy on their patients. Our financial performance continues to demonstrate the quality of the Barostim procedure, the robust demand for Barostim in the market and our ability to execute.