JANUARY2016

34th AnnualJ.P.MorganHealthcareConference
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ForwardLookingStatements
SPECIALNOTEREGARDINGFORWARDLOOKINGSTATEMENTS
Inadditiontohistoricalinformation,thispresentationcontainsforwardlookingstatementswithrespecttoourbusiness,capitalresources,
strategicinitiativesandgrowthreflectingthecurrentbeliefsandexpectationsofmanagementmadepursuanttothesafeharborprovisionsofthe
PrivateSecuritiesLitigationReformActof1995,includingregardingcontinuingadoptionof,andinterestin,Senza intheU.S.andinternational
markets;ourbeliefsregardingmarketsizeandshareforSenza;ourbeliefsregardingtheadvantagesofSenza andHF10therapy;ourexpectations
regardingourcommercializationefforts;ourexpectationsforU.S.,internationalandworldwiderevenueforthefourthquarterandfullyearof
2015;andourexpectationsforworldwiderevenueforthefullyear2016.Theseforwardlookingstatementsarebaseduponinformationthatis
currentlyavailabletousorourcurrentexpectations,speakonlyasofthedatehereof,andaresubjecttonumerousrisksanduncertainties,
includingourabilitytosuccessfullycommercializeourproducts;ourabilitytomanufactureourproductstomeetdemand;the leveland
availabilityofthirdpartypayor reimbursementforourproducts;ourabilitytoeffectivelymanageouranticipatedgrowth;ourabilitytoprotect
ourintellectualpropertyrightsandproprietarytechnologies;ourabilitytooperateourbusinesswithoutinfringingtheintellectualpropertyrights
andproprietarytechnologyofthirdparties;competitioninourindustry;additionalcapitalandcreditavailability;ourabilitytoattractandretain
qualifiedpersonnel;andproductliabilityclaims.Thesefactors,togetherwiththosethataredescribedingreaterdetailin ourAnnualReporton
Form10KfiledonMarch18,2015andourQuarterlyReportonForm10QfiledonNovember9,2015,aswellasanyreportsthatwemayfile
withtheSecuritiesandExchangeCommissioninthefuture,maycauseouractualresults,performanceorachievementstodiffermateriallyand
adverselyfromthoseanticipatedorimpliedbyourforwardlookingstatements.Weexpresslydisclaimanyobligation,exceptasrequiredbylaw,
orundertakingtoupdateorreviseanysuchforwardlookingstatements.Ourpreliminaryoperatingresultsforthequarterandfullyearended
December31,2015aresubjecttoadjustmentaswecompleteouryearendauditandotherprocessesandarenotnecessarilyindicativeofour
operatingresultsforanyfutureperiod.

LeadershipThroughInnovationTM

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Nevro:ALeaderinNeuromodulation
ATTRACTIVEMarket

DIFFERENTIATEDTechnology

FIRSTinClassEvidence

Growing$1.5BMarket,
ExistingReimbursement,
PotentialtoTakeShareand
GrowExistingMarket

FirstSCStoDeliverSignificant&
SustainedBackPainRelief

FirstPivotalRCTwith
ComparativeEffectiveness
Data,AllPrimaryand
SecondaryEndpointsMet

EXECUTIONofU.S.CommercialLaunch

DEMONSTRATEDExecution

FDAApprovalSecuredinMay2015andNow
ExecutingonSuccessfulU.S.Launch

CommercialSuccessinEuropeand
Australia

6,000+ Patientsin17MARKETSOver5YEARS
LeadershipThroughInnovationTM

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ProductandTherapyOverview
HF10Therapy
Frequency

AnatomicalLead
Placement

Waveform
Characteristics

Programming

LeadershipThroughInnovationTM

SenzaSCSSystem

SENZARCT

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Historically,LimitedDataExistedintheSCSSpace
PUBLISHEDRCTSTUDIESPRIORTONEVROSSENZARCT
Onlythreeprospectivestudieswithatleastsixmonthfollowuphadbeenpublished
Priorstudiesfocusedonlegpainastheprimaryendpoint
Ifreported,therewaslimitedefficacyforbackpain

LegPain
Trial
Success

Study

System

Patients

Schultz
2012

Medtronic
RestoreSensor

Predom
LegPain

NA

North
2005

Medtronic
Itrel

Predom
LegPain

17/24
71%

Kumar
2008

Medtronic
Synergy

Predom
LegPain

43/52
83%

VAS
Response
N
VAS
Response
N
VAS
Response
N

Base

6m

5.9

76

4.3

24
7.6

52

BackPain

12m

24m

Base

6m

12m

24m

4.4
38%
42

47%
19
4.4
40%
42

5.5

52

4.1

4.5

4.8

50

42

42

71

24
4
48%
50

Note:Blankcellsarenotreported

LeadershipThroughInnovationTM

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FirstPivotalStudyConductedforFDAApproval

FirstSCSstudytoreporton100%of
patientsto12months
Designedinconsultationwithand
monitoredbytheFDA

LeadershipThroughInnovationTM

2009
USFEASIBILITYSTUDY

PROSPECTIVE,
LONGTERM

Firstrandomizedstudywithback
painasaprimaryendpoint

2011
EUROPEAN
MULTICENTER,
24MONTHSTUDY
(SENZAEU)

FEASIBILITY

FirststudytodirectlycompareSCS
technologies

RANDOMIZED,
CONTROLLED

THELARGESTSTUDYINSCS
STEPWISEEVIDENCEGENERATION
HISTORYPROVIDING
2014
COMPARATIVELEVELIEVIDENCE
USPIVOTAL
STUDY
FORLEGANDBACKPAIN
(SENZARCT)

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SENZARCT:IndividualBackPainReduction
TraditionalSCSSubjects

IndividualSubjects(n=80)

IndividualSubjects (n=89)

HF10TherapySubjects

Responders(n=70)

79%
Responderrate

0%

20%

40%

60%

80% 100%

DecreaseinBackPainfromBaseline 12Months

51%
Responderrate

Nonresponders(n=39)

Nonresponders(n=19)

100% 80% 60% 40% 20%

Responders(n=41)

100% 80% 60% 40% 20%

20%

40%

60%

80% 100%

DecreaseinBackPainfromBaseline 12Months

Eachhorizontallinerepresentstheresponseofastudysubject
Respondersaredefinedassubjectsexperiencing50%orgreaterpain
relief

LeadershipThroughInnovationTM

0%

ResponderRates:P<0.001

Eachlinerepresentsapatient

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SENZARCT:IndividualBackPainReduction
HF10TherapySubjects

IndividualSubjects

TraditionalSCSSubjects

100% 80% 60% 40% 20%

0%

20%

40%

60%

80% 100%

DecreaseinBackPainfromBaseline 12Months

Eachhorizontallinerepresentstheresponseofastudysubject
Respondersaredefinedassubjectsexperiencing50%orgreaterpain
relief

LeadershipThroughInnovationTM

ResponderRates:P<0.001

Eachlinerepresentsapatient

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SENZARCT:IndividualLegPainReduction

Responders(n=72)

81%
Responderrate

Nonresponders(n=17)

100% 80% 60% 40% 20%

Responders(n=40)

50%
Responderrate

Nonresponders(n=40)

0%

20% 40% 60% 80% 100%

DecreaseinLegPainfromBaseline 12Months

TraditionalSCSSubjects

IndividualSubjects(n=80)

IndividualSubjects (n=89)

HF10TherapySubjects

100% 80% 60% 40% 20%

20% 40% 60% 80% 100%

DecreaseinLegPainfromBaseline 12Months

Eachhorizontallinerepresentstheresponseofastudysubject
Respondersaredefinedassubjectsexperiencing50%orgreaterpain
relief

LeadershipThroughInnovationTM

0%

ResponderRates:P=0.003

Eachlinerepresentsapatient

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SENZARCT:IndividualLegPainReduction
HF10TherapySubjects

IndividualSubjects

TraditionalSCSSubjects

100% 80% 60% 40% 20%

0%

20% 40% 60% 80% 100%

DecreaseinLegPainfromBaseline 12Months

Eachhorizontallinerepresentstheresponseofastudysubject
Respondersaredefinedassubjectsexperiencing50%orgreaterpain
relief

LeadershipThroughInnovationTM

ResponderRates:P=0.003

Eachlinerepresentsapatient

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LargeandGrowingUnderservedMarket
LEGPAIN

LEGAND
LEG
AND BACKPAIN

TraditionalSCS
PrimarilyLegPain

$1.5Billion

BACKPAIN

EstablishedReimbursement
EstablishedClinicalPathways

SCSMarketToday

HF10Therapy
LeadershipThroughInnovationTM

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MultipleTherapyAdvantages

HF10TherapyAdvantages
SuperiorPainRelief
DurableResultsDemonstratedthrough24Months

SuperiorResponderRates
DurableResultsDemonstratedthrough24Months

BackPainEfficacy
Superiorefficacyintreatmentofbackpain

ParesthesiaFreePainRelief
Nouncomfortablestimulation

IntraoperativeWorkflowEfficiencies
Morepredictableproceduresduetolackofparesthesiamapping
(anatomicalplacement)
LeadershipThroughInnovationTM

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2015Highlights
FDAApproval&SuperiorityLabelingforHF10Therapy
12MonthPublicationinAnesthesiology
12MonthSENZARCTResultspublishedinAnesthesiology(titledNovel10KHzHighFrequencyTherapy
(HF10Therapy)IsSuperiortoTraditionalLowFrequencySpinalCordStimulationfortheTreatmentof
ChronicBackandLegPain:TheSENZARCTRandomizedControlledTrial

IPRPatentChallengeVictory
U.S.PatentandTrademarkOfficedeniedBostonScientificPetitionsforInterPartes ReviewofU.S.Patent
No.8,359,102

CMSApprovalofTransitionalPassThroughPayment
CentersforMedicare&MedicaidServices(CMS)ApprovesaTransitionalPassThroughPaymentfor
HighFrequencyStimulationundertheMedicareHospitalOutpatientProspectivePaymentSystem
EffectiveBeginningJanuary1,2016

ConsistentInternationalPerformance
~70%YoYgrowthin1Q15,~80%growthin2Q15and~50%growthin3Q15onaconstantcurrencybasis

SuccessfulUSLaunch
GrowingnumberofclinicsacrosstheU.S.arecontinuingtoadoptHF10therapyandoutcomesin
commercialuseareconsistentwithclinicaloutcomesfromSENZARCT
LeadershipThroughInnovationTM

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CMSApprovesTransitionalPassThroughPayment
forOutpatientUseofSenza SCSSystem

EffectiveJanuary1,2016
CMShasdeterminedthatHF10therapyhasfulfilleditsSubstantial
ClinicalImprovementcriteriabasedonNevros SENZARCTpivotal
studydata
ThispassthroughpaymenttofacilitiesforHF10therapyforMedicare
patientswillbeinadditiontotheestablishedreimbursementforspinal
cordstimulationdevices
Inthepast10years,HF10therapyis1ofonly11 medicaldevicesto
begrantedoutpatientpassthroughpaymentstatusbyCMS
LeadershipThroughInnovationTM

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ExecutingonU.S.LaunchStrategy
RESPONSIBLYROLLINGOUTHF10THERAPY
LEVERAGING INTERNATIONALEXPERIENCE&CLINICALEVIDENCE

HIRING EXCEPTIONALTALENT&PROVIDINGRIGOROUSTRAINING

DELIVERING CONSISTENT&SUPERIORCLINICALOUTCOMES

EDUCATING THEMARKETONTHEPIVOTALRCTDATA

ESTABLISHING NEVROASTHELEADERINNEUROMODULATION

LeadershipThroughInnovationTM

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U.S.SalesOrganization
RepsTrained&InField

RepProductivityGoals

100
92

100fullytrained
salesrepsasof
YE2015

70

Steadystaterep
productivitygoalof
$1.3to$1.5million

52

Steadystate
achievementin18to
24months
AtLaunch
5/8/15

LeadershipThroughInnovationTM

Q2

Q3

YE15

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NevroIsPenetratingAND GrowingtheSCSMarket

PainDistributionofHF10TreatedPatients
U.S.LaunchthroughJan1,2016
~5%

PredominantBack
PredominantLeg

~30%

Back&Leg
Other

~50%
~15%

LeadershipThroughInnovationTM

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2015QuarterlyRevenueRamp
$inMillions(unaudited)

FY15PreliminaryEstimatedRevenue:$69.1M $69.6M
U.S.Revenue

4Q15E

InternationalRevenue

~$32.6

U.S.Range:$19.5M $19.8M
IntlRange:$13.1M $13.3M
~$19.5
$15.4

$9.7

$11.4
$0.1
$11.3

$9.7

1Q15

2Q15

$4.5

$10.9

3Q15

~$13.1

4Q15E

FY16PreliminaryWorldwideRevenueGuidance:$145.0M $155.0M
LeadershipThroughInnovationTM

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MultiplePotentialLabelExpansionOpportunities
RefractoryChronicMigraine

ChronicIntractableNeckand
UpperExtremityPain

FOCUSEDONPAIN&
PAINSPECIALISTS

LeadershipThroughInnovationTM

NonSurgicalLowBackPain

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Nevro:ALeaderinNeuromodulation
ATTRACTIVEMarket

DIFFERENTIATEDTechnology

FIRSTinClassEvidence

Growing$1.5BMarket,
ExistingReimbursement,
PotentialtoTakeShareand
GrowExistingMarket

FirstSCStoDeliverSignificant&
SustainedBackPainRelief

FirstPivotalRCTwith
ComparativeEffectiveness
Data,AllPrimaryand
SecondaryEndpointsMet

EXECUTIONofU.S.CommercialLaunch

DEMONSTRATEDExecution

FDAApprovalSecuredinMay2015andNow
ExecutingonSuccessfulU.S.Launch

CommercialSuccessinEuropeand
Australia

6,000+ Patientsin17MARKETSOver5YEARS
LeadershipThroughInnovationTM

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ExperiencedIndustryLeadership
MICHAELDEMANE

Chairman&CEO

RAMIELGHANDOUR

President

ANDREWGALLIGAN

CFO

DOUG ALLEAVITCH

VPQuality&Operations

MICHAELENXING

VPSales

ANDREWALKER

Sr.VPR&D

DAVIDCARAWAY,MD,PHD

ChiefMedicalOfficer

RICHCARTER

VPFinance

BRADGLINER

VPClinical& Regulatory

MIKE HALL

GeneralCounsel

TAMARAROOK

VPHE&R

LeadershipThroughInnovationTM

Centerfor
PainRelief

RelativeValueScale
UpdateCommittee(RUC)

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JANUARY2016

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