Axonics® Reports Preliminary Fourth Quarter and Fiscal Year 2021 Revenue
06 January 2022 - 10:00PM
Business Wire
Quarterly revenue exceeds $50 million for the
first time
Axonics, Inc. (Nasdaq: AXNX), a global medical technology
company that is developing and commercializing novel products for
the treatment of bladder and bowel dysfunction, today reported
preliminary unaudited net revenue for the three months and fiscal
year ended December 31, 2021.
- 4Q21 total company net revenue is expected to be in the range
of $52.9 to $53.3 million, an increase of 53% compared to $34.8
million in the prior year period.
- 4Q21 sacral neuromodulation (SNM) net revenue is expected to be
in the range of $44.2 to $44.4 million, an increase of 27% compared
to $34.8 million in the prior year period.
- 4Q21 Bulkamid® net revenue is expected to be in the range of
$8.7 to $8.9 million.
- Fiscal year 2021 total company net revenue is expected to be in
the range of $180.1 to $180.5 million, an increase of 62% compared
to $111.5 million in fiscal year 2020.
- Fiscal year 2021 sacral neuromodulation net revenue is expected
to be in the range of $157.4 to $157.6 million, an increase of 41%
compared to $111.5 million in fiscal year 2020.
- Fiscal year 2021 Bulkamid net revenue is expected to be in the
range of $22.7 to $22.9 million. (1)
___________
(1) The acquisition of Bulkamid was completed on February 25,
2021. Reported revenue includes sales from February 26, 2021
onwards.
“We are very proud of this quarter and fiscal year's results
considering the disruption Covid-19 has had on elective procedures
in health care facilities in the U.S. and around the world,” said
Raymond W. Cohen, chief executive officer of Axonics. “In 2021, in
addition to strong commercial execution, Axonics made important
progress on several strategic initiatives, including the successful
acquisition and launch of Bulkamid in the U.S., significant growth
of our commercial field team, expansion of our in-house
manufacturing capabilities, and the FDA submission of our
recharge-free SNM system.”
Cohen continued, “In 2022, we expect the introduction of our
long-lived, recharge-free SNM system in the first half of 2022 to
set a new standard for what is possible in this category. We are
also eagerly looking forward to launching a national television
direct-to-consumer advertising campaign as we continue to increase
awareness for Axonics therapies to treat all forms of incontinence.
We remain confident that our commitment to innovation, quality and
providing physicians and patients strong support will continue to
drive market expansion and advance Axonics on its path to market
leadership.”
The preliminary results are unaudited and remain subject to
adjustment. Axonics will report complete fourth quarter and fiscal
year 2021 financial results and hold a corresponding conference
call on February 24, 2022.
About Axonics
Based in Irvine, Calif., Axonics is a global medical technology
company that is developing and commercializing novel products for
adults with bladder and bowel dysfunction. Axonics recently ranked
No. 1 on the 2021 Deloitte Technology Fast 500™, a ranking of the
500 fastest-growing technology, media, telecommunications, life
sciences, fintech, and energy tech companies in North America.
The company’s rechargeable sacral neuromodulation (SNM) system
provides patients suffering from overactive bladder and/or fecal
incontinence with long-lived, easy to use, safe, clinically
effective therapy. In addition, Axonics’ best-in-class urethral
bulking agent, Bulkamid®, provides safe and durable symptom relief
to women with stress urinary incontinence (SUI). Overactive bladder
affects an estimated 87 million adults in the U.S. and Europe, with
an additional 40 million adults estimated to suffer from fecal
incontinence. SUI affects an estimated 20 million women in the U.S.
alone. Axonics’ clinically proven products are offered at hundreds
of medical centers across the U.S. and abroad. Reimbursement
coverage is well established in the U.S. and is a covered service
in most European countries. For more information, visit
www.axonics.com.
Forward-Looking Statements
Statements made in this press release that relate to future
plans, events, prospects or performance are forward-looking
statements as defined under the Private Securities Litigation
Reform Act of 1995. Words such as “planned,” “expects,” “believes,”
“anticipates,” “designed,” and similar words are intended to
identify forward-looking statements. While these forward-looking
statements are based on the current expectations and beliefs of
management, such forward-looking statements are subject to a number
of risks, uncertainties, assumptions and other factors that could
cause actual results to differ materially from the expectations
expressed in this press release, including the risks and
uncertainties disclosed in Axonics filings with the Securities and
Exchange Commission, all of which are available online at
www.sec.gov. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. Except as required by law, Axonics undertakes no obligation
to update or revise any forward-looking statements to reflect new
information, changed circumstances or unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20220106005321/en/
Axonics contact: Neil Bhalodkar Investor Relations
949-336-5293 ir@axonics.com
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