Axonics, Inc. (NASDAQ:AXNX) Q4 2022 Earnings Call Transcript

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So it’s all good, it’s all moving in the right direction, but the reason we’re not spending more money on DTC is simply because we want to do justice to those individuals who have already raised their hand, and it’s a process, 11,000 and 12,000 people raise their hand, you got to reach out to all of those individuals try to get them on the phone and try to get them an appointment, I mean, if anything, what we’re doing differently in 2023 is moving more towards a concierge service, so that we can kind of keep people on the line and get them in the appointment book because that’s where things kind of break down, right, practices are busy and all the rest. So – and everything else, every other management team has set, which we don’t need to repeat on this call.

So – but could we do more, yes, could we spend more, yeah, could we generate more interest, yeah, but once again it’s a big task right to be able to do justice to the “leads” that we’re getting to begin with.

Michael Sarcone: All right, thank you.

Raymond Cohen: Thanks, Michael.

Operator: Thank you. Our next question comes from the line of Mike Matson with Needham and Company. Your line is now open.

Mike Matson: Okay. Thanks, I’ll just ask one question, since we’re passed the 30-minute mark here, so I guess I’m just wondering about kind of the pipeline and we’ve seen tremendous improvements in the lifespan and size of these devices in a fairly short period of time, and you seem to have been launching kind of a new version annually, so can you continue that pace and are we nearing sort of the near-term limits in terms of battery life and size and things like that for these devices?

Raymond Cohen: So, another interesting question, Mike, I think the fair answer is that our engineering team has really overachieved. I don’t think anybody expected this kind of longevity with these really very small, very thin devices. We feel very confident that we’ve kind of rolling out a lot of what can be had on the implantable pulse generator side, so I think we’re kind of pencils down there on – for IPGs for the moment. Our attention now is focusing on re-imagining our External Trial System, so that’s more comfortable for people, that’s something an initiative inside the company and other things related to just streamlining the whole process of getting patients through the care pathway and interfacing with our people and external trials and all these kinds of things.

So you’re going to see more innovation from Axonics, no question, it’s just not going to be in the near term being defined as the next year or two, it’s not going to be on the IPG side, it’s going to be other future months if you may for the system.

Mike Matson: Okay, got it. Thank you.

Operator: Thank you. I would now like to hand the conference back over to Raymond Cohen for closing remarks.

Raymond Cohen: All right, well, thank you. That was a really good robust Q&A session. We really appreciate the questions coming from the analyst community. So just in closing, I’d like to just say that we remain grateful for the trust that physicians, patients, and of course, shareholders have placed in Axonics. As always, I’d like to thank my colleagues in Irvine and our team in the field for their diligent efforts and dedication to fulfilling the Axonics mission of improving the lives of adults with incontinence and so I thank you all for joining us on today’s call and we look forward to speaking with you more as the year unfolds, and you all have a good evening.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.

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