Shockwave Medical (NSDQ:SWAV) posted fourth-quarter results that beat the overall consensus on Wall Street.
The Santa Clara, California-based company has proprietary cardiovascular disease treatment tech involving local delivery of sonic pressure. Yesterday evening it reported profits of $12.9 million, or 34¢ per share, on sales of $84.2 million for the three months ended Dec. 31, 2021, for a bottom-line gain of 181% on sales growth of 270.6% compared with Q4 2020.
Earnings per share were 34¢, 25¢ ahead of The Street, where analysts were looking for sales of $75.4 million.
“I continue to be humbled by the exceptional performance of the entire Shockwave team, despite the unpredictable and unprecedented challenges that are constantly being put in front of us,” president and CEO Doug Godshall said in a news release. “2021 was another stellar year with significant achievements across the board – from regulatory and sales to reimbursement, marketing, and operations. I want to thank our employees for their hard work and persistence in helping us achieve these successes and our customers and investigators for supporting us as we pursue our mission to improve outcomes for patients with calcified vascular disease.”
Revenue in Q4 was mostly driven by the launch of its coronary product Shockwave C2, according to the company.
Shockwave Medical said it expects full-year 2022 revenue to be in the range of $405 million to $425 million to represent 71% to 79% growth over 2021.
SWAV shares were up more than 6% to $152.55 apiece by late afternoon trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies — was down slightly.