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EBR Systems
EBR Systems (EBR) investor relations material
EBR Systems 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.44th Annual J.P. Morgan Healthcare Conference summary15 Jan, 2026
Market opportunity and product differentiation
Introduced the only leadless pacemaker for left ventricular pacing, addressing a critical gap in cardiac resynchronization therapy and offering a unique, complementary solution with no direct competition.
FDA approval and reimbursement secured, with a disciplined commercial rollout and manufacturing scale-up underway.
The total addressable market (TAM) in the U.S. is estimated at $5.8 billion, with a recent price update to $55,000 per system.
Leadless upgrades and high-risk upgrades are the fastest-growing segments, driven by the shift from lead-based to leadless systems.
The system is compatible with both lead-based and leadless devices, enabling modular therapy for complex patient needs.
Industry trends and competitive landscape
The cardiac rhythm management market is shifting rapidly toward leadless systems, with major incumbents like Medtronic, Abbott, and Boston Scientific expanding their leadless portfolios.
Leadless pacemakers now account for 50% of the U.S. pacemaker market, with projections for full adoption in the coming years.
EBR’s system is the only one capable of providing leadless left ventricular pacing, filling a gap not addressed by competitors.
The modularity of the system allows for combination therapies, improving outcomes for patients with complex needs.
Commercialization and financial performance
Limited market release began in Q4 2025, with a focus on high-volume, early-adopter centers and a cautious, sequential expansion strategy.
Eight sales territories established, with plans for gradual expansion as traction increases.
Early revenue reached $1.5 million for the year, with cases doubling from Q3 to Q4 and 22 contracts signed by year-end.
Reimbursement programs (TPT and NTAP) provide up to $63,300 per procedure, supporting a high average selling price.
Participation in Medicare’s TCET program accelerates national coverage, reducing the typical multi-year wait for new device reimbursement.
Strategy for leadless upgrade market penetration
TCET program's impact on national coverage?
How sustainable is the leadless CRT market moat?
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Next EBR Systems earnings date
Q4 202526 Feb, 2026
EBR Systems
Next EBR Systems earnings date
Q4 202526 Feb, 2026
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Frequently asked questions
EBR Systems Inc is a U.S.-based medical device company focused on developing innovative wireless cardiac pacing systems. Its primary product, the WiSE (Wireless Stimulation Endocardially) Technology, is designed to treat heart failure by providing leadless pacing to stimulate the heart's left ventricle, addressing limitations of traditional pacemakers that require leads. EBR’s technology aims to improve patient outcomes in cardiac resynchronization therapy (CRT), offering a minimally invasive alternative for patients with specific heart conditions. The company is headquartered in Sunnyvale, California, and its shares are listed on the Australian Securities Exchange.
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