CVRx, Inc. (NASDAQ:CVRX) Q2 2024 Earnings Conference Call July 29, 2024 4:30 PM ET

Company Participants

Mike Vallie - IR
Kevin Hykes - President and CEO
Jared Oasheim - CFO

Conference Call Participants

Robbie Marcus - JPMorgan
Matthew O'Brien - Piper Sandler
Margaret Kaczor Andrew - William Blair
Frank Takkinen - Lake Street Capital Market
Bill Plovanic - Canaccord Genuity
Chase Knickerbocker - Craig-Hallum Capital Group

Operator

Ladies and gentlemen, good afternoon and welcome to the CVRx Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host Mike Vallie. Thank you. Please go ahead, sir.

Mike Vallie

Good afternoon. Thank you for joining us today for CVRx's second quarter 2024 earnings conference call. Joining me on today's call are the company's President and Chief Executive Officer, Kevin Hykes; 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, Kevin Hykes.

Kevin Hykes

Thanks, Mike. Good afternoon and thank you for joining us. I’m pleased with our solid second quarter results, driven again by encouraging strength in the U.S. Heart Failure business. We delivered total revenue of $11.8 million, an increase of 24% over the second quarter of 2023. I remain enthusiastic about the team we are building and the impact Barostim therapy is having on patients. One of my key priorities in the second quarter was to deepen and strengthen our leadership team to drive our market development priorities.

To head our U.S. sales team, we recently announced the appointment of Robert John as our new Chief Revenue Officer, who brings over 25 years of sales leadership experience in the medical device industry. Robert has a strong reputation within the heart failure community and has significant experience building sales organizations, launching novel heart failure therapies, and delivering results. Robert officially started on June 27th and has seamlessly assumed leadership of our sales team from Paul Verrastro, our Interim Sales leader. I would like to thank Paul for his leadership and commitment during this transition period.