SHOCKWAVE MEDICAL Reports Record-Breaking Earnings for Q2 2023
August 18, 2023
🌥️Earnings Overview
SHOCKWAVE MEDICAL ($NASDAQ:SWAV) reported on June 30, 2023 that their total revenue for the second quarter of fiscal year 2023 amounted to USD 180.2 million, a 49.2% increase from the same period the year prior. Additionally, net income rose 12.9% year over year to USD 28.9 million.
Stock Price
On Monday, SHOCKWAVE MEDICAL reported record-breaking earnings for Q2 of 2023. The medical device company’s stock opened at $250.0 and closed at $245.3, down by 2.5% from last closing price of 251.6.
Additionally, its Shockwave Intravascular Lithotripsy (IVL) system has seen a dramatic rise in adoption rates over the last year due to its fast, efficient and minimally invasive nature. Overall, the record-breaking earnings of SHOCKWAVE MEDICAL demonstrate the company’s ability to deliver innovative and effective medical solutions that are able to make an immediate impact on patient outcomes and healthcare costs. The company is optimistic that the increasing demand for its products will continue, leading to further growth in revenue and profits for the rest of the year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Shockwave Medical. More…
| Total Revenues | Net Income | Net Margin |
| 616.59 | 243.9 | 39.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Shockwave Medical. More…
| Operations | Investing | Financing |
| 160.62 | -118.14 | -2.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Shockwave Medical. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 786.6 | 169.69 | 16.8 |
Key Ratios Snapshot
Some of the financial key ratios for Shockwave Medical are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 129.3% | – | 25.3% |
| FCF Margin | ROE | ROA |
| 20.5% | 16.4% | 12.4% |
Analysis
At GoodWhale, we have conducted an analysis of SHOCKWAVE MEDICAL‘s fundamentals. Based on our Risk Rating, SHOCKWAVE MEDICAL is a high risk investment in terms of both financial and business aspects. On our platform, we have detected five risk warnings in SHOCKWAVE MEDICAL’s income sheet, balance sheet, cashflow statement, non financial, and financial journal. These warnings highlight potential issues with the company’s ability to sustain its current operations or grow successfully in the future. If you would like to review our detailed analysis on SHOCKWAVE MEDICAL and learn more about our risk rating system, please register on goodwhale.com and take a look. We hope that our platform can provide valuable insights for you to make informed decisions about your investments. More…
Peers
The medical device industry is an ever-evolving landscape, with many companies competing to develop the most impactful and innovative solutions. One of the major players in this field is ShockWave Medical Inc, which has recently been engaged in a fierce competition with other notable players such as Inspire Medical Systems Inc, Inari Medical Inc, and INVO Bioscience Inc. Each of these companies has their own unique approach to developing cutting-edge medical technology, and their competition is driving innovation and progress in the industry.
– Inspire Medical Systems Inc ($NYSE:INSP)
Inspire Medical Systems Inc is a medical device company that specializes in the development of minimally invasive solutions for treating obstructive sleep apnea (OSA). The company has a market capitalization of 6.71 billion US dollars as of 2022, making it one of the larger companies in its sector. The company’s Return on Equity (ROE) is -8.55%, which suggests that the company is not generating a positive return on its shareholders’ investments. This is likely due to the high costs associated with R&D and clinical trials associated with developing new products and treatments. Despite this, Inspire Medical Systems Inc remains a leader in its sector, having developed innovative solutions that are helping to improve the lives of patients around the world.
– Inari Medical Inc ($NASDAQ:NARI)
Inari Medical Inc is a medical technology company that develops innovative medical devices for treating vascular diseases. The company has a market cap of 3.67 billion USD as of 2022, indicating a strong market presence and demonstrating that investors are confident in the company’s long-term prospects. Additionally, Inari Medical Inc has a return on equity of -2.93%, which suggests that the company has not been able to generate profits from its investments. This could be due to the company’s investments into research and development, as well as its expensive start-up costs.
– INVO Bioscience Inc ($NASDAQ:INVO)
INVO Bioscience Inc is a medical device company that focuses on developing and commercializing innovative products for the treatment of infertility. The company has a market cap of 7.3M as of 2022, indicating that its current market value is relatively small compared to its competitors. Its Return on Equity of -210.86% shows that the company is not performing well, as it has been burning through cash and not generating sufficient returns on its investments.
Summary
Investors in Shockwave Medical are likely to be pleased with the company’s financial results for the second quarter of fiscal year 2023. Total revenue rose by an impressive 49.2%, reaching USD 180.2 million, while net income increased 12.9% to USD 28.9 million. This is a strong performance and demonstrates the company’s ability to generate returns even in challenging economic times. The investment outlook for Shockwave Medical remains positive, as the company’s revenue and earnings continue to grow.
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