Shockwave Medical (NSDQ:SWAV) this week posted first-quarter results that beat the overall consensus on Wall Street.
The Santa Clara, California-based company reported profits of $14.5 million, or 39¢ per share, on sales of $93.6 million for the three months ended March 31, for a bottom-line gain from the year prior on sales growth of 193.5%.
Earnings per share were 25¢ ahead of The Street, where analysts were looking for sales of $84.2 million.
“Our growth this quarter was driven by strong execution from our teams across the globe, despite the myriad geopolitical, health and economic challenges that continue to face us all,” CEO and President Doug Godshall said in a news release. “The exceptional progress that the Shockwave team has made this quarter continues to demonstrate what an important solution IVL has become for patients who suffer from calcified arterial disease. We look forward to continuing to partner with our customers to help them enhance outcomes for their patients.”
Shockwave Medical projects revenue for the full year 2022 to be in the range of $435 million to $455 million to represent growth of 83% to 92% over the company’s revenue in 2021.
Shares in SWAV were up 17.45% to $136.14 apiece at market close today.