RELATED: Medtronic's earnings flatten out as COVID pandemic, healthcare worker shortage rage on Axonics is still neck-and-neck with Medtronic in the sacral neuromodulation space. The company anticipates receiving the FDA's approval for its own recharge-free implant later this year. "We expect to begin shipping our long-lived, recharge-free [sacral neuromodulation] system in early second quarter," the devicemaker's CEO, Raymond Cohen, said in a year-end financial report released Thursday, which showed that Axonics' annual revenue from its implants increased 25% in 2021, to a total of $197 million. Medtronic's latest earnings report, meanwhile, showed that its entire neuromodulation segment had earned $409 million for the three-month period ending Jan. 28, down 4% year over year.