Silk Road Medical (NSDQ:SILK) posted fourth-quarter results that beat the revenue consensus on Wall Street and missed on earnings estimates.
The Sunnyvale, California-based stroke treatment tech company reported losses of -$14.7 million, or -42¢ per share, on sales of $28.3 million for the three months ended Dec. 31, 2021, for a bottom-line gain of 12.3% on sales growth of 33.75% compared with Q4 2020.
Earnings per share were 42¢, 7¢ behind The Street, where analysts were looking for sales of $25.91 million.
Silk Road Medical’s tech involves its transcarotid artery revascularization (TCAR) procedure. TCAR combines direct carotid artery access with robust blood flow reversal during the placement of the company’s Enroute transcarotid stent to remove micro and macro emboli.
“Our team and physicians had a tremendous impact in 2021, performing nearly 14,000 cases and driving record annual revenue of $101.5 million,” president and CEO Erica Rogers said in a news release yesterday evening. “We drove measurable progress on regulatory and clinical fronts in anticipation of standard surgical risk approval in the U.S., entry into Japan and China, and development of our long-term pipeline, and we are well-positioned to continue establishing TCAR as the new standard of care in carotid artery disease through 2022 and beyond.”
Silk Road Medical projects revenue for fiscal year 2022 to be in the range of $126 million to $132 million.
Shares in SILK were up more than 10% to $34.91 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up 1%.