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Investors may not be too familiar yet with innovative hearing aid manufacturer
Eargo (NASDAQ:EAR) the upstart only went public in October. But it has been listening well to its customers, and folks in search of new stocks to buy in the healthcare sector will want to take note.
Eargo reported crystal-clear first-quarter earnings on May 12, with 74% net revenue growth. System shipments (with a system being two hearing aids, a charging case, and starter accessories) were up by 66.5% year over year to 11,704 for the quarter. The company hopes to keep the momentum going with the launch of its next-generation product, the Eargo 5, in the back half of 2021.
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Eargo first-quarter 2021 earnings conference call. [Operator instructions] As a reminder, today s conference call is being recorded. I will now turn the conference over to your host, Mr. Nick Laudico, vice president of investor relations.
Sir, you may begin.
Vice President of Investor Relations
Good afternoon, everyone, and welcome to the Eargo first-quarter 2021 earnings conference call. The press release and slides to accompany this call are available on our investor relations website at ir.eargo.com. Please note, we have also provided supplemental historical financial information at the end of the slide presentation. As a reminder, both this live call and a digital replay will be available on our IR website.
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Eargo fourth-quarter 2020 earnings conference call. [Operator instructions] As a reminder, today s program may be recorded. I would now like to introduce your host for today s program, Nick Laudico, vice president of investor relations. Please go ahead.
Nick Laudico
Vice President, Investor Relations
Good afternoon, everyone, and welcome to the Eargo fourth-quarter and full-year 2020 earnings conference call. The press release and slides to accompany this call are available under investor relations website at ir.eargo.com. As a reminder, both this live call and the digital replay will be available on our IR website. Joining me on today s call are Christian Gormsen, president and chief executive officer; and Adam Laponis, chief financial officer.