Another Solid Quarter for Axonics, as They Continue to Take Share

Another Solid Quarter for Axonics, as They Continue to Take Share 

Qsight Alpha provides institutional investors with a unique understanding of sector and individual company performance. We offer U.S. sales projections for 29 publicly traded companies in the MedTech space, based on purchasing data for medical devices and supplies from over 3,000 facilities. 

Axonics (AXNX) is one of the companies that Qsight Alpha provides sales projections for, encompassing both its sacral nerve stimulation division along with Bulkamid. Historically, Qsight’s projections for the company have been very accurate on a quarterly revenue basis.  

For 1Q23, Qsight projected that the company would once again beat consensus estimates, calling for U.S. sales of $65.41M. 

Additionally, many investors utilize the data to gather insight between earnings seasons to get an early understanding of how the company is performing month to month. 

Following the FDA approval of the F15 SNM System in March 2022, Qsight was quick to pick up purchases from healthcare facilities even prior to the full launch of the product the following month. Axonics saw its sales quickly accelerate with F15, as the company now had a recharge-free offering to compete with Medtronic.  

In addition to providing sales estimates for Axonics and its products, Qsight also provides market share analysis between Axonics and Medtronic to compare the number of IPGs purchased. Our data clearly shows that Axonics has been gaining share over time, which has only been accelerated by the launch of F15. 

Interestingly, the positive reception of F15 has not only led Axonics to take share versus Medtronic’s Interstim X but also led to an increased uptake of Axonic’s R15 versus Medtronic’s Interstim Micro amongst rechargeable devices. Although recharge-free IPGs outnumber rechargeable, it is evident that F15 has been well-received by both patients and physicians alike, which has led to cross-selling opportunities for the company. With Axonics recently launching its next-gen rechargeable system, R20, it will be interesting to see if the company can take even more share. 

𝐁𝐨𝐨𝐤 𝐚 𝐝𝐞𝐦𝐨: https://lnkd.in/dsCwhsVm 

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