Sientra, Inc. (NASDAQ:SIEN) Q4 2019 Earnings Conference Call - Final Transcript

Mar 11, 2020 • 05:00 pm ET

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Sientra, Inc. (NASDAQ:SIEN) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by, and welcome to Sientra's Fourth Quarter 2019 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker, Mr. Oli Bennett.

Please go ahead, sir.

Executive
Oli Bennett

Thank you, operator. Good afternoon, and welcome to the Sientra fourth-quarter and full-year 2019 earnings conference call. I would like to remind everyone that in our remarks today, we will include statements that are considered forward-looking statements, within the meaning of United States securities laws. In addition, management may make additional forward-looking statements in response to your questions.

Forward-looking statements are based on management's current assumptions and expectations of future events and trends, which may affect the Company's business, strategy, operations or financial performance. A detailed discussion of the risks and uncertainties that the Company faces is contained in its previously filed quarterly report on Form 10-Q and annual report on Form 10-K that the Company will file with the SEC in the next few days. Actual results may differ materially from those expressed in or implied by the forward-looking statements. The Company undertakes no obligation to update or review any estimate, projection or forward-looking statement.

I would also like to note that Sientra uses its Investor Relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Sientra is routinely posted and is accessible on the Company's Investor Relations website at www.sientra.com. Today on our call, we have Jeff Nugent, Sientra's Chairman and Chief Executive Officer; and Paul Little, Chief Financial Officer, Senior Vice President, and Treasurer. I will turn the call over to Jeff.

Jeff?

Executive
Jeffrey Nugent

Thanks, Oli. Good afternoon, everyone, and thank you for joining us today. 2019 was another pivotal year of strong performance, demonstrating consistent growth and strategic transformation for Sientra as we made real strides toward our goal of becoming an aggressive world-class global aesthetics company. Q4, in particular, was an exceptional quarter as we achieved record net sales in both our business segments, both breast products, and miraDry.

I'd like to start by highlighting a few of the significant accomplishments and how these position us for 2020 and beyond. Most importantly, Sientra achieved record total net sales in the fourth quarter of $23.2 million or an overall growth of 22% year on year. The record net sales is in both breast products and the miraDry segments. For the fourth quarter, total breast products sales grew 22% year-over-year to $12.8 million.

For the full-year 2019 breast implant and tissue expander sales grew 25% in an overall market that we continue to estimate is flat. That's further evidence that Sientra continues to make sizable share gains. We saw continued strong growth in augmentation procedures, as well as record growth in our tissue expander businesses as well. Further, during '19, approximately 50% of our implant and expander business came from the reconstruction procedure segment, and we