CVRx, Inc. (NASDAQ:CVRX) Q1 2023 Earnings Conference Call April 27, 2023 5:00 PM ET

Company Participants

Michael Vallie - Investor Relations

Nadim Yared - President and Chief Executive Officer

Jared Oasheim - Chief Financial Officer

Conference Call Participants

Will Plovanic - Canaccord Genuity

Alex Nowak - Craig-Hallum Capital Group

Frank Takkinen - Lake Street Capital Markets

Operator

Greetings, and welcome to the CVRx Q1 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. If anyone should require operator assistance during the conference, [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Michael Vallie. Thank you. Please go ahead, sir.

Michael Vallie

Good afternoon. Thank you for joining us today for CVRx’s first 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 several 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 CBRx’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 first quarter performance, followed by an operational update, a review of our financial results by our CFO, Jared Oasheim; and then I will conclude with our thoughts for the rest of 2023 before turning to Q&A. We are thrilled with our first quarter performance, which demonstrated solid execution on multiple fronts.

We are able to share the preliminary data from the BeAT-HF study during the quarter and continue to grow our U.S. heart failure business. This is a testament to our team’s ability to accelerate adoption of Barostim through the increased capabilities of our commercial organization and our marketing and awareness efforts. At a high level, our Barostim therapy continues to gain traction. The feedback from physicians at active implanting centers is extremely positive with many reporting meaningful impact on the quality of life for their patients suffering from heart failure.