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  "documentTitle": "Nevro Corp. (NVRO)",
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  "authorName": "Kir Kahlon",
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  "presentationDate": "2021-01-07 00:00:00",
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  "notes": "The slide uses a dual-axis chart to show revenue growth vs. YOY growth rate, illustrating the 'hitting a wall' narrative.",
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      "text": "By late 2017 – a mere 2 years after launch - growth mysteriously hit a wall.",
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      "text": "Nevro went public in November 2014 at $18/share, and launched its high frequency device in mid-2015. Sales took off: doctors were eager try a new device, and Nevro poached longtime stim reps from Medtronic, Boston Scientific, and Abbott along with their books of business, as its stock represented the first real money-making opportunity for veterans in a sleepy space. Sales grew from $70MM in 2015 to $327MM in 2017. The sell-side gushed with excitement. The honeymoon would be short-lived, however. By late 2017 – a mere 2 years after launch - growth mysteriously hit a wall. The stock, having peaked at $104 in late 2016, began to tread water. Little explanation was provided. The then-CEO blamed an alleged deceleration of the SCS market, and the stock crashed into the $30's.",
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      "text": "Source: Capital IQ",
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      "text": "Scorpion Capital | Nevro (NYSE: NVRO)",
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      "text": "1. Introduction to Nevro",
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