Silk Road Medical Inc. (SILK) Tops Q2 EPS by 5c, Revenues Beat

Silk Road Medical Inc. (NASDAQ: SILK) reported Q2 EPS of ($0.32), $0.05 better than the analyst estimate of ($0.37). Revenue for the quarter came in at $15.1 million versus the consensus estimate of $9.46 million.

“While the second quarter posed several challenges, we are pleased with our performance and we remain unwavering in our commitment to change the standard of care in carotid artery disease. Our results are a testament to our team, our clinical outcomes and our commercial strategy, as well as reflective of the underlying demand for TCAR,” said Erica Rogers, President and Chief Executive Officer of Silk Road Medical. “As expected, procedure volumes were lowest in April, then recovered significantly in May and further in June. We have recently begun to experience more regional variability and procedure slowdowns due to the resurgence of COVID-19 cases and related restrictions, and as such, remain cautiously optimistic as we look to the second half of the year.”

Ms. Rogers continued, “Despite the challenging environment, we made meaningful progress on our strategic initiatives in the second quarter and strengthened our balance sheet with a successful follow-on offering. We are increasingly confident in our positioning as we continue with planned investments to drive durable, long term growth.”

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

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