Private company

NEVRO CORP

We are a global medical device company focused on delivering comprehensive, life-changing solutions that continue to set the standard for enduring patient outcomes in chronic pain treatment.1

Last updated Oct 19, 2026.

Overview

  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersRedwood City, California1
  • Business address1800 Bridge Parkway, Redwood City, Ca 940652
  • Filer categoryAccelerated filer2

See how the biggest companies compare on our leaderboards

We are a global medical device company focused on delivering comprehensive, life-changing solutions that continue to set the standard for enduring patient outcomes in chronic pain treatment. Our product portfolio includes both spinal cord stimulation (SCS) treatment therapy for certain forms of neuropathic pain as well as minimally invasive treatment options for patients suffering from chronic sacroiliac (SI) joint pain.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

66.0%Gross margin4
-30.9%Operating margin4
-27.8%Net margin4
-3.9%Revenue growth, 20244
-49.1%Return on equity4
0.81×Debt to equity4
-$29.2MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue28¢$139.0M
  • Research and development10¢$51.5M
  • Selling, general and admin62¢$309.8M
  • Income tax0¢$1.1M

Out of $408.5M in revenue.4 The company lost money this year.

Financial statements

Revenue56784$408.5M in 2024+5% since 2018
0$200.0M$400.0M$600.0M2018: $387.3M$387.3M20182019: $390.3M$390.3M2019+1%2020: $362.0M$362.0M2020−7%2021: $386.9M$386.9M2021+7%2022: $406.4M$406.4M2022+5%2023: $425.2M$425.2M2023+5%2024: $408.5M$408.5M2024−4%
Gross profit56784$269.5M in 2024−1% since 2018
0$100.0M$200.0M$300.0M2018: $273.3M$273.3M20182019: $268.4M$268.4M2019−2%2020: $249.9M$249.9M2020−7%2021: $266.0M$266.0M2021+6%2022: $276.4M$276.4M2022+4%2023: $290.1M$290.1M2023+5%2024: $269.5M$269.5M2024−7%
Operating income56784-$126.2M in 2024+202% since 2018
-$150.0M-$100.0M-$50.0M0$50.0M2018: -$41.7M-$41.7M20182019: -$96.5M-$96.5M2019+131%2020: -$62.9M-$62.9M2020−35%2021: -$110.9M-$110.9M2021+77%2022: $6.2M$6.2M20222023: -$99.3M-$99.3M20232024: -$126.2M-$126.2M2024+27%
Net income56784-$113.4M in 2024+131% since 2018
-$150.0M-$100.0M-$50.0M0$50.0M2018: -$49.2M-$49.2M20182019: -$103.7M-$103.7M2019+111%2020: -$83.1M-$83.1M2020−20%2021: -$131.4M-$131.4M2021+58%2022: $3.0M$3.0M20222023: -$92.2M-$92.2M20232024: -$113.4M-$113.4M2024+23%
Fiscal year2018201920202021202220232024
Revenue$387.3M5$390.3M6$362.0M7$386.9M8$406.4M4$425.2M4$408.5M4
Cost of revenue$114.0M5$121.9M6$112.1M7$120.9M8$130.0M4$135.1M4$139.0M4
Gross profit$273.3M5$268.4M6$249.9M7$266.0M8$276.4M4$290.1M4$269.5M4
Research and development$48.5M5$59.0M6$45.6M7$47.7M8$53.1M4$54.4M4$51.5M4
Selling, general and admin$266.6M5$305.8M6$267.2M7$309.3M8$322.1M4$334.7M4$309.8M4
Operating expenses$377.0M8$270.2M4$389.4M4$395.8M4
Operating income-$41.7M5-$96.5M6-$62.9M7-$110.9M8$6.2M4-$99.3M4-$126.2M4
Interest$10.4M5$10.9M6$21.8M7$19.7M8$6.4M8$8.0M8
Income before tax-$130.8M8$4.3M4-$97.9M4-$112.3M4
Income tax$768.0K5$1.6M6$868.0K7$534.0K8$1.3M4-$5.6M4$1.1M4
Net income-$49.2M5-$103.7M6-$83.1M7-$131.4M8$3.0M4-$92.2M4-$113.4M4
Earnings per share-$2.477-$3.778$0.084-$2.564-$3.064
Earnings per share (diluted)-$2.477-$3.778$0.084-$2.564-$3.064
Shares (weighted, basic)34.8M shares835.3M shares436.0M shares437.1M shares4
Shares (weighted, diluted)34.8M shares835.5M shares436.0M shares437.1M shares4

Compare NEVRO CORP with another company

Leadership

Who has led NEVRO CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael F. Demane2014–2016
  2. Rami Elghandour2016–2019
  3. D. Keith Grossman2019–2023
  4. Kevin R. Thornal2023–2025

Chair

  1. D. Keith Grossman2020–2023

President

  1. Rami Elghandour2014–2019
  2. D. Keith Grossman2019–2023
  3. Kevin R. Thornal2023–2025

Chief financial officer

  1. Andrew H. Galligan2014–2020

Chief operating officer

  1. Christofer Christoforou2024–2025
201520202025
Board members and other officers (28)

Timeline

  1. Apr 26, 2023New chief executive Kevin R. Thornal becomes CEO12
  2. Mar 21, 2019New chief executive D. Keith Grossman becomes CEO13
  3. Jun 10, 2016New chief executive Rami Elghandour becomes CEO14
  4. Nov 5, 2014New chief executive Michael F. Demane becomes CEO15

Filings

353 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 33 major events, 232 insider forms, 34 large holders, 40 other. The latest 20:

  1. Aug 14, 2025SCHEDULE 13G/A EDGAR
  2. May 15, 2025SCHEDULE 13G/A EDGAR
  3. Apr 14, 202515-12G EDGAR
  4. Apr 7, 2025EFFECT EDGAR
  5. Apr 4, 2025SCHEDULE 13D/A EDGAR
  6. Apr 3, 2025S-8 POS EDGAR
  7. Apr 3, 2025S-8 POS EDGAR
  8. Apr 3, 2025S-8 POS EDGAR
  9. Apr 3, 2025S-8 POS EDGAR
  10. Apr 3, 2025S-8 POS EDGAR
  11. Apr 3, 2025S-8 POS EDGAR
  12. Apr 3, 2025S-8 POS EDGAR
  13. Apr 3, 2025S-8 POS EDGAR
  14. Apr 3, 2025S-8 POS EDGAR
  15. Apr 3, 2025S-8 POS EDGAR
  16. Apr 3, 2025S-8 POS EDGAR
  17. Apr 3, 2025S-8 POS EDGAR
  18. Apr 3, 2025S-8 POS EDGAR
  19. Apr 3, 2025POS AM EDGAR
  20. Apr 3, 20258-K EDGAR

The 353 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

7 open-market trades by officers, directors and large owners since October 2021: 7 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 7, 2023McCormick ShawnDirectorBuy7,500$22.88$171.6KForm 4
May 9, 2022Rashid KashifSVP, Corp Dev and CLOBuy2,250$44.50$100.1KForm 4
Mar 11, 2022Rashid KashifSVP, Corp Dev and CLOBuy1,500$64.04$96.1KForm 4
Mar 8, 2022GROSSMAN D KEITHDirectorBuy3,200$63.59$203.5KForm 4
Dec 14, 2021OBOYLE KEVIN CDirectorBuy2,400$83.78$201.1KForm 4
Nov 22, 2021WEATHERMAN ELIZABETH HDirectorBuy20,000$85.33$1.7MForm 4
Nov 11, 2021Rashid KashifSVP, Corp Dev and CLOBuy2,000$101.05$202.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57