NeuroPace Shares Fall 52% After Cutting Revenue Outlook

The company now expects full-year revenue of $91 million to $92 million, down from its previous forecast of $99.5 million to $101.5 million. The stock is down 62% year to date.

Third-quarter revenue declined to $23.1 million from $23.4 million a year earlier and came in below analysts’ $27.1 million estimate, according to FactSet. Chief Executive Joel Becker said revenue missed the company’s expectations because of isolated issues concentrated in several large accounts. Changes to the field organization also caused more disruption than anticipated, he said.

NeuroPace reported a quarterly loss of $3.3 million, or 10 cents a share, compared with a loss of $3.5 million, or 11 cents a share, a year earlier. Analysts had expected a loss of 11 cents a share.