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Shockwave Medical increases sales by 193% in the first quarter

Shockwave Medical (NSDQ:SWAV) released first quarter results this week that beat the general consensus on Wall Street.

The Santa Clara, Calif.-based company reported earnings of $14.5 million, or 39¢ per share, on sales of $93.6 million for the three months ended March 31, for a gain net compared to the previous year on sales growth of 193.5%.

Earnings per share were 25¢ higher than The Street, where analysts had forecast sales of $84.2 million.

“Our growth this quarter was driven by the strong execution of our teams around the world, despite the myriad geopolitical, health and economic challenges we all face,” CEO and Chairman Doug Godshall said in a press release. . “The exceptional progress made by the Shockwave team this quarter continues to demonstrate how VILI has become an important solution for patients with calcified arterial disease. We look forward to continuing to partner with our customers to help them improve outcomes for their patients. »

Shockwave Medical expects full-year 2022 revenue to be between $435 million and $455 million, representing 83% to 92% growth over the company’s 2021 revenue.

Shares of SWAV rose 17.45% to $136.14 apiece at market close today.