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| So, I think taking all of that into consideration, we've seen good results in the U.S., kind of steady results in Europe and then the unknown related to that payment code coming out in November |
| You've been able to pretty consistently guide and beat the guide, several quarters in a row now |
| heart failure business continued to surpass our expectations by growing by more than 90% in the quarter |
| We are pleased with the accomplishments of the third quarter and the overall progress throughout 2023 |
| Barostim therapy continues to gain traction, and the feedback we receive from physicians and patients is very positive |
| Our performance has been consistently strong, largely driven by exceptional growth in our U.S |
| That includes the number of active implanting centers, but then also being able to exceed the top end of the guidance that we've given over the last few quarters |
| Our solid performance in the third quarter, has led us to make another upward adjustment to our revenue projection for the year |
| I think we're feeling really positive based on the results we've seen so far in 2023 and pretty hopeful based on the non-binding vote that we got from the advisory panel on what we could possibly see for a payment level for 2024 |
| We maintain positive momentum in the third quarter, building on the strengths we delivered during the first half of 2023 |
| Our approach to advancing the adoption of Barostim, while upholding our financial stability, has yielded positive outcomes once again, reflecting the effectiveness of our operational model |
| It is highly encouraging to see operating leverage within our business |
| business, and we're seeing really, really good results on that side of it |
| So, we've been pretty happy with the growth that we've seen throughout 2023 |
| We've been really happy with the results so far this year, based on that add-on payment that we have had |
| But again, we were really happy to be able to push that full year guidance number up |
| Our operations are performing well with steady revenue growth, improved margins and a reduction in our cash burn |
| This is a testament to our team's ability to accelerate the adoption of Barostim through the increase scale of our commercial organization and our marketing and awareness efforts |
| The improvement in our cash burn has been driven by improved gross margins, increased productivity from our U.S |
| So yes, we've continued to exceed expectations on our quarterly growth throughout 2023 |
| Our ongoing discussions with FDA and a positive vote from the CMS Advisory Panel in August are encouraging, though our guidance does not hinge on these outcomes |
| We remain confident in our business to help bring relief to many patients suffering from heart failure |
| Listen, regarding GLP-1, we're excited about the positive impact of that therapy on obesity and type 2 diabetes |
| We have steadily expanded our commercial reach and made strides in marketing and patient education |
| heart failure business, which grew by 92% over the prior year |
| You cannot infer from that, any elements on the severity of the question or the nature of the question, the fact that our team has done a fantastic job to respond very quickly |
| Congrats on a good quarter |
| So, I do think that the leverage we're seeing in this model on the sales and marketing side is definitely sustainable as we move forward, continue to grow and see more of that total coming down to the bottom line to help us out and reduce that cash burn number |
| These results were achieved through the increased utilization of Barostim among our existing customer base |
| So that they could potentially benefit from that more predictable payment code, APC1580, and that approximate reimbursement of $45,000 |
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| Revenue generated in Europe was $0.9 million in the current quarter, representing a decrease of 19%, compared to the same period last year |
| Total revenue units in Europe decreased from 61 in Q3 of 2022 to 47 in the current quarter |
| And we all know that in heart failure with reduced ejection fraction, an increased heart rate is considered a safety concern |
| sales team and a reduction in our R&D spend associated with the BeAT-HF trial |
| There is a chance that some of our customers that maybe have had complicated add-on payment calculations in the past could delay procedures from December into January |
| Net loss for the current quarter was $9 million, or $0.43 per share, compared to a net loss of $9.8 million, or $0.48 per share, for the same period last year |
| 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 |
| We do not have any indications to believe it's going to go one way or the other, except to note that the chances of getting it has increased |
| And we now expect operating expenses between $77 million and $78 million, down from $78 million to $80 million |
| The pullback in OpEx spend, even amid the new rep hires, the R&D side makes sense |
| So, seeing us move into the third quarter with more revenue and a little bit less in overall sales and marketing isn't a surprise necessarily |
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