Why ShockWave Medical Inc. (SWAV) stock soared in the after-hours on Friday?

SWAV stock
SWAV stock

ShockWave Medical Inc. (SWAV) shares soared 16.55% in after-hours on Friday, January 07, 2021, and closed the daily trading at $197.00. However, in the regular trading of Friday, SWAV’s stock lost 4.89%. SWAV shares have risen 42.56% over the last 12 months, and they have moved down 5.22% in the past week. Over the past three months, the stock has lost 15.32%, while over the past six months, it has declined 10.10%.

Let’s have a brief discussion about its recent news and developments.

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SWAV earning release schedule

On January 04, 2022. Shockwave Medical, Inc. (SWAV), announced its schedule for quarterly earnings releases after the market closes and hold conference calls at the times indicated on the following dates.

  • Fourth Quarter 2021 Earnings – Thursday, February 17, 2022, at 4:30 p.m. (ET).
    First Quarter 2022 Earnings – Monday, May 9, 2022, at 4:30 p.m. (ET).
    Second Quarter 2022 Earnings – Monday, August 8, 2022, at 4:30 p.m. (ET).
    Third Quarter 2022 Earnings – Monday, November 7, 2022, at 4:30 p.m. (ET).

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SWAV update about Disrupt BTK II Study

On November 22, 2021, Shockwave Medical, Inc. (SWAV), commenced Disrupt BTK II post-market study to assess the safety, effectiveness, and optimal clinical use of the Shockwave Peripheral IVL System for the treatment of calcified peripheral lesions below the knee (BTK), including some of the most challenging patients with critical limb ischemia (CLI).

SWAV latest financial results

On November 08, 2021, Shockwave Medical, Inc. (SWAV), announced its financial results for the three months ended September 30, 2021.

Q3 2021 financial highlights

SWAV reported total revenue of $65.2 million in the third quarter of 2021 compared to 19.6 million in the same period of 2020.

In Q3 2021, gross profit was $54.2 million with a gross margin of 83% compared to $14.3 million and a gross margin of 73% for the third quarter of 2020.

Total operating expenses were $51.4 million in Q3 2021 compared to $27.1 million in the third quarter of 2020.

It earned a net income of $1.9 million in the third quarter of 2021, compared to a net loss of $12.9 million in the same period of 2020.

The company ended the third quarter with cash, cash equivalents, and short-term investments of $183 million.

FY 2021 financial outlook

For FY 2021, Shockwave Medical is expecting total revenue in the range of $227 million to $228 million compared to previous revenue guidance of $218 million to $223 million.

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Well, as of this writing, there is no reason behind its early loss and later surging in the after-hours on Friday. We hope that it will continue its momentum after the weekend as well.


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