So I think there’s a lot of blue sky ahead of us and the combination of increasing procedures in existing accounts and having new accounts come our way I think will continue to fuel, not only our revenue growth that we’re predicting in 2023, but for many years to come.
Operator: Thank you. One moment for our next question. And our next question comes from the line of Larry Biegelsen from Wells Fargo. Your question please.
Nathan Treyback: Hi, this is Nathan Treyback on for Larry. So Q1 was generally strong for medtech and your US SNM sales were down 22% sequentially which you noted it was seasonality, but this was more than decline of 14% last year. Can you just give more color on why seasonality was more pronounced this year? And any color on trends you’ve seen, mostly trends you’ve seen in Q1 and in April? Thanks.
Raymond Cohen : So, it’s kind of a late question about seasonality now that we’re already into May. What I can tell you is that, you quoted a statistic, but you quoted a decrease from our strongest quarter in the history of the company in Q4, which is the strongest quarter in generally, in Medtech as patients have met their deductible. Okay, you reset the clock and you got to start all over again. And as we’ve explained numerous times in numerous forms, the first quarter is in a highly elective procedure. Once again, this is an elective procedure that we have. We expect to and expect it to have more seasonality in Q1. And that’s what we’ve seen. Having said that, we feel very good about Q1 results. We think 46% year-over-year increase is nothing to sneeze that, whether it includes a seasonal drop from our strongest quarter of the year.
So, I’m not sure there’s much more to say about that. What I can tell you is that, things are going great. We’ve got great momentum in our business. And this quarter is looking real strong.
Nathan Treyback: Great. Thanks for that. And in terms of – can you talk about the traction you’re seeing with the R20 rechargeable system? How do you expect your mix to play out through 2023?
Raymond Cohen : So, we haven’t spent a lot of time talking about mix. I mean, I think partially because we’re agnostic. I mean, we’re happy, for our physicians implanting Axonic’s sacral neuromodulation and using Bulkamid So, whether they use the R20 or the R15 which is still being used and under contract with a lot of accounts or they go with the F15 really makes no difference stuff. We got great margins on both of these products. So, we don’t have a huge incentive one way or another as a company. Having said that, I think that R20 has really captured the imagination of these physicians and there is a patient. The idea that you can have rechargeable product and you only have to recharge once or twice in a year is incredible.
And it’s not burdensome and the advantage of the R20 is the small size. So, but – and it’s going well. I mean we’re selling I think the demand for R20 is a little more than, let’s say what we saw in 2022 with R15. Having said that, we are selling more recharge-free systems today than we – our rechargeable systems. And I think just part of that is the 20-something year legacy of physicians only having access to a non-rechargeable simulator. So they’re a little more comfortable it seems to talk about that product. But R20 has gone really well. And I think it really underscores the point, here’s Axonics. We’ve now had the fourth generation rechargeable product out in the market in three and a half years. We’ve got a great winning non-rechargeable device or recharge-free device.
So, we are – the message is out. If you want to make a bet on Axonics, we are the ones that are continuing to innovate and are committed to the space and providing the max, the best solutions that we can for these patients.
