Silk Road Medical (NSDQ:SILK) this week posted first-quarter results that beat the revenue consensus on Wall Street and missed on earnings.
The Sunnyvale, California-based stroke treatment tech company reported losses of $16.7 million, or -48¢ per share, on sales of $28.02 million for the three months ended March 31 for sales growth of 27% compared with Q1 2021.
Earnings per share were 11¢ behind The Street, where analysts were looking for sales of $28.02 million.
“We demonstrated strong execution in the first quarter and remain confident in our ability to drive further TCAR adoption, supplemented by our recent FDA approved label expansion for our stent to include standard surgical risk patients,” CEO Erica Rogers said in a news release. “This approval levels a playing field once dominated by open surgery, allowing an expanded patient population to benefit from our less invasive approach as we establish TCAR as the new standard of care in stroke prevention.”
Silk Road Medical expects full-year 2022 revenue to be in the range of $127 million to $132 million to represent 25% to 30% growth over 2021.
Shares in SILK were down 1.72% to $34.23 apiece at market open.