Trending Assets
Top investors this month
Trending Assets
Top investors this month
$12.6MFollowers
Shockwave Medical ($SWAV) Earnings Recap
TL;DR: They crushed it. Again.
- Revenue up 116% YoY and 180% TTM
- Gross profit margins of 86.1%, up 390bps YoY and up 810bps TTM
- Operating margins hit a record high of 24.5%. Now 17% TTM vs. (35.6%) the previous TTM.
- Net margins trend the same way. Record high of 21.2% and now 15.2% TTM vs. (40.6%).
- FCF? Yeah, we got that now. Record high of $25.3MM in Q2 and now with $48.4MM TTM vs. ($53.3MM).
- Very little dilution in recent quarters but ~7.5% YoY.
- Coronary revenue was the highlight, up 139% YoY and now 298% TTM. Peripheral was up 70% YoY and 53% TTM.
- In term of revenue by geography, US remains the primary driver with 83% of the revenue. US revenue cracked $100MM in a single Q for the first time ever, up 133% YoY and 243% TTM. Europe accounts for 11% of revenue and Rest of World accounts for 6%.
On that last bullet point, I'm very curious to read the conference call transcript. I'm hoping management gives tangible updates on Japan and China, both of whom they recently received regulatory approval from and management has previously stated they expect to begin recognizing revenue from both areas in 2022.
They remain priced at a high valuation but I'd say its absolutely justified.
Already have an account?