Silk Road Medical Inc

SILK

Equity

ISIN US82710M1009 / Valor 46755203

NASDAQ (2024-09-16)

USD 27.49-0.04%

Silk Road Medical Inc
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About company

Silk Road Medical Inc is a medical device company that specializes in developing and commercializing minimally invasive treatment options for patients with carotid artery disease.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

Silk Road Medical Inc. reported revenue of $48.5 million for the first quarter of 2024, marking a 21% increase compared to the first quarter of 2023. This growth was primarily driven by increased adoption of their TransCarotid Artery Revascularization (TCAR) procedure.

Gross Profit and Margin

The company achieved a gross profit of $36.5 million in the first quarter of 2024, up from $27.6 million in the same period of the previous year. The gross margin improved to 75% from 69%, attributed to favorable purchase price variances and the absence of unfavorable production variances seen in the prior year.

Operating Expenses

Operating expenses for Silk Road Medical Inc. in the first quarter of 2024 were $51.4 million, a 16% increase from $44.5 million in the first quarter of 2023. This rise was mainly due to increased headcount and related expenses in their commercial organization.

Net Loss

Silk Road Medical Inc. reported a net loss of $14.1 million, or $0.36 per share, for the first quarter of 2024. This is an improvement compared to the net loss of $16.5 million, or $0.43 per share, reported in the same period of the previous year.

Financial Guidance

For the full year 2024, Silk Road Medical Inc. projects revenue to range between $194 million and $198 million, representing a growth of 10% to 12% over the prior year's revenue. This outlook reflects the company's confidence in continued adoption and expansion of their TCAR procedure.

Summarized from source with an LLMView Source

Key figures

62.5%1Y

-53.2%3Y

-21.3%5Y

Performance

95.6%1Y

72.8%3Y

67.4%5Y

Volatility