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    Robin [on for Robbie Marcus]

    Managing Director and Senior Analyst at JPMorgan

    Robbie Marcus is a Managing Director and Senior Analyst at JPMorgan Chase & Co., specializing in healthcare equity research with a focus on biotechnology and medical device companies. He covers major firms such as Edwards Lifesciences, Cooper Companies, NeuroPace, CVRx, Integra LifeSciences, and Inspire Medical Systems, and has issued over 160 ratings with a documented success rate of approximately 55% and an average return of around 9%. Beginning his tenure at JPMorgan as a healthcare analyst, Marcus has established himself among the top tier of Wall Street analysts, ranking in the top 10% by industry platforms. He holds FINRA registration and advanced securities licenses commensurate with his position as Managing Director and Senior Analyst.

    Robin [on for Robbie Marcus]'s questions to NVRO leadership

    Robin [on for Robbie Marcus]'s questions to NVRO leadership • Q1 2024

    Question

    Asked for clarification on the Vyrsa revenue contribution baked into guidance and for an explanation of why full-year gross margin is expected to be flat despite a strong Q1 and the Costa Rica manufacturing ramp.

    Answer

    Vyrsa's revenue contribution is expected to be immaterial in 2024 as the company focuses on training and scaling, and they refuted any prior commentary suggesting a $20 million figure. The flat full-year gross margin guidance is due to manufacturing overhead variances related to the transition to the Costa Rica facility, which are expected to impact COGS in the second half of the year, despite strong long-term prospects for cost savings.

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