Silk Road Medical Inc. (SILK) Reports In-Line Q4 EPS, Revenues Beat; Provides FY20 Revenue Guidance

Silk Road Medical Inc. (NASDAQ: SILK) reported Q4 EPS of ($0.27), in-line with the analyst estimate of ($0.27). Revenue for the quarter came in at $18.6 million versus the consensus estimate of $17.97 million.

Recent Highlights

• Revenue of $18.6 million for the fourth quarter and $63.4 million for the full year of 2019, representing 62% and 83% increases, respectively, over the corresponding periods of 2018
• Positive results from the ongoing TransCarotid Artery Revascularization (TCAR) Surveillance Project comparing TCAR and transfemoral carotid artery stenting (TF-CAS) published in The Journal of the American Medical Association (JAMA)
• Completed over 8,400 TCAR procedures in the U.S. in 2019 growing the cumulative number of procedures performed to over 16,000 globally

“Throughout 2019, we made important headway on our key initiatives of commercial execution and clinical evidence which continued to drive TCAR interest and adoption leading to revenue growth of more than 80% in 2019,” said Erica Rogers, Chief Executive Officer of Silk Road Medical. “As we look to 2020, we expect continued adoption among physicians as well as further development on our label expansion and pipeline strategies. We have built a strong foundation to support our mission of becoming standard of care and to positively impact patient lives.”

GUIDANCE:

Silk Road Medical Inc. sees FY2020 revenue of $92-95 million, versus the consensus of $94.02 million.

• Silk Road Medical projects revenue for the full year 2020 to range from $92 million to $95 million, which represents 45% to 50% growth over the company’s prior year revenue.

For earnings history and earnings-related data on Silk Road Medical Inc. (SILK) click here.

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