Ann: Update on expected revenue for H1, page-51

Hi,

I understand that pple are upset with the revenue forecast. However, it could be due to so many issues, for example,

(a) customers might have delayed their orders in June to the next quarter;
(b) revenue definition: revenues are recognized when they are realized or realizable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. Customers might have placed orders but due to COVID restrictions between Mexico (location of manufacture of NXS products) to the customer's home country (delays in transport), revenue is recognized only when title of goods is received by customers. Therefore, customers might have placed orders in June but revenue can't be recognized in June if title of goods is only received by customers in July.
(c) NXS has just launched Xperience, it is unlikely that they are able to forecast revenue in current quarter.

In the meantime, those 3 clinical trials are important to convince the surgeons.