Axonics, Inc. (NASDAQ:AXNX) Q1 2023 Earnings Call Transcript

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Nathan Treyback: Thank you.

Operator: Thank you. One moment for our next question. And our next question comes from the line of Adam Maeder from Piper Sandler. Your question please.

Adam Maeder: Hi Ray, hi Dan. Good afternoon, and thank you for taking the questions. I wanted to start on the guidance. You beat Q1 I think by $6 million that the same amount that you raised the full year guide by. So, maybe just walk us through the consideration, the philosophy and maybe the decisions perhaps not get a little bit more aggressive given that you did have a nice start to the year. And perhaps it’s very well just some conservatism, but would love to hear more of there. Thanks. And I had a follow-up.

Dan Dearen : Sure. Hi, Adam. Always good to hear from you. Now, look, we’re look – we are being very measured. We’re very happy with where Q1 came in. It was perfectly consistent with the guidance. And I think as we look forward, no surprise here. And you’ve heard this from us quarter-after-quarter now, which is with both products continue to do extremely well, there’s a lot of momentum as Ray said. Bulkamid still manages to outrun even our best expectations. And look, but that’s an end we were asking on a previous question. If the growth coming from increase in utilization or capturing additional customers, you know, the answer is both, but we’re seeing an uptick in procedures curve practice. So everything’s trending the right direction. And we’re trying to be prudent. And so the $6 million increase in the guide is just, realistic layering on top of the prior guidance. And really, it’s just as straightforward as that.

Adam Maeder: Okay. Thank you for the color there, Dan. And maybe just one quick follow-up if I may. Wanted to actually ask about the evolution of sacral neuromodulation therapy. Clearly, you guys have been very active from an innovation standpoint. You just announced its lead placement acquisition. Are there other ways to further streamline the procedure or the technology? And one question that often I get asked is, do you think over time that sacral neuromodulation could be moved to local anesthetic? Thanks so much for taking the questions.

Raymond Cohen : Thanks, Adam. This is Ray. Well, I think there’s a big – when you say local anesthetic, you mean, just like lidocaine injection in the upper buttocks maybe when somebody, let you can you respond, can you respond to Adam?

Dan Dearen : Yes, sorry maybe just a change from kind of general anesthesia and just maybe as conscious sedation or just something that’s where the patients are fully under.

Raymond Cohen : Okay, understood. So, the patients aren’t really fully under for our procedure. I think this is a misconception. This is not, we use the word procedure room, hospital, outpatient procedure room, ambulatory surgery center, that’s where these procedures are done. This is like a colonoscopy. Patients are getting propofol. I mean, that’s basically it. It’s not a big deal. Nobody is going under a major anesthetic, so on and so forth for these procedures. These are fast procedures. I know, you know this Adam, this is a day case. I mean, and we talk about a day case certain people go in. They get the procedures on there out. It’s like the whole thing is two hours. So this is not a big deal. And it’s the appropriate – doing it in these outpatient procedure room is the appropriate place to do it.

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