Shockwave Medical (SWAV) Tops Q4 EPS by 2c, Revenues Beat; Offers FY20 Revenue Guidance
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Shockwave Medical (NASDAQ: SWAV) reported Q4 EPS of ($0.49), $0.02 better than the analyst estimate of ($0.51). Revenue for the quarter came in at $14.3 million versus the consensus estimate of $13.48 million.
- Recognized revenue of $14.3 million for the fourth quarter and $42.9 million for the full year of 2019, representing increases of 183% and 250%, respectively, over the corresponding periods of 2018
- Commenced the full commercial launch of S4 Peripheral IVL Catheter in the U.S.
- Initiated the CAD IV study of IVL in Japan
- Ended the year with total enrollment of 346 patients in the CAD III IDE study in the U.S.
- Entered into a new sublease agreement - more than doubling the Company’s office space to approximately 85,200 square feet
- Completed an underwritten public offering raising $97 million in net proceeds
“I am encouraged by the progress we have made at Shockwave over the course of 2019. Our team improved their performance across the board – from clinical to sales to operations – as we all worked together to advance the use of IVL and to help change the way calcified cardiovascular disease is treated,” said Doug Godshall, President and Chief Executive Officer of Shockwave Medical. “The growing use of IVL across many different vessels has exceeded our expectations and I believe that Shockwave is well positioned to continue to positively impact our customers and their patients into the future.”
Shockwave Medical sees FY2020 revenue of $74-77 million, versus the consensus of $75.34 million.
- Shockwave Medical projects revenue for the full year 2020 to range from $74 million to $77 million, which would represent 72% to 79% growth over the company’s prior year revenue.
For earnings history and earnings-related data on Shockwave Medical (SWAV) click here.
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