Published on 1 May 2024 on GuruFocus.com via Yahoo Finance
Silk Road Medical Inc (SILK) Q1 2024 Earnings: Revenue Surpasses Expectations, Losses Narrow
Revenue: Reported $48.5 million, a 21% increase year-over-year, surpassing estimates of $44.68 million.Net Loss: Recorded at $14.1 million, an improvement from a loss of $16.5 million year-over-year, and was below the estimated loss of $15.63 million.Earnings Per Share (EPS): Reported at -$0.36, an improvement from -$0.43 year-over-year, exceeding the estimated EPS of -$0.40.Gross Margin: Increased to 75% in Q1 2024 from 69% in Q1 2023, driven by favorable production and purchase price variances.Operating Expenses: Rose to $51.4 million, up 16% due to increased commercial organization headcount and related expenses.Adjusted EBITDA: Loss reduced to $3.9 million from a loss of $7.4 million in the previous year, indicating improved operational efficiency.2024 Financial Guidance: Projects full-year revenue to be between $194 million and $198 million, representing a growth of 10% to 12% over the previous year.
Warning! GuruFocus has detected 3 Warning Signs with SILK.