Why Shockwave Medical Shares Are Trading Higher After Hours

Shockwave Medical Inc SWAV reported first-quarter revenue of $93.63 million, an increase of 193.5% year-over-year, beating the consensus of $86.41 million.
The gross margin for Q1 expanded to 86.2% from 75.3% in 1Q21.
The operating income for the quarter totaled $15.37 million versus a loss of $(17.48) million a year ago.
EPS improved to $0.39 from $(0.68), beating the consensus of $0.18.
The company reported total operating expenses of $65.4 million (+58% Y/Y). The increase was primarily driven by sales force expansion in the U.S. and a higher headcount to support the growth of the business.
SWAV’s cash, cash equivalents, and short-term investments totaled $201.1 million as of March 31, 2022.
The company received regulatory approval for the Shockwave C2 Coronary IVL Catheter in Japan.
FY22 Outlook: Shockwave Medical projects revenue of $435 million to $455 million (vs. consensus of $417.9 million), compared to previous revenue guidance of $405 million to $425 million.
Price Action: SWAV shares are trading higher by 16.04% at $134.50 during the post-market session on Monday
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Shockwave Medical Stock Soars On Q1 Earnings Beat, Raised FY22 Guidance