Name: Abiomed Inc. (NASDAQ:ABMD) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Abiomed Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016
Revenue	265,921)	277,149)	269,850)	261,176)	248,142)	252,585)	241,245)	231,663)	209,764)	164,850)	206,659)	221,584)	204,974)	207,666)	207,081)	200,563)	181,778)	180,010)	174,436)	154,022)	132,823)	132,468)	124,680)	114,674)	102,955)	102,995)
Cost of revenue	(48,880)	(52,626)	(51,457)	(47,627)	(43,886)	(45,188)	(46,078)	(41,110)	(38,736)	(35,983)	(39,369)	(39,996)	(34,867)	(37,073)	(34,848)	(34,023)	(29,846)	(30,850)	(30,098)	(24,994)	(21,627)	(21,862)	(19,261)	(18,987)	(17,309)	(15,070)
Gross profit	217,041)	224,523)	218,393)	213,549)	204,256)	207,397)	195,167)	190,553)	171,028)	128,867)	167,290)	181,588)	170,107)	170,593)	172,233)	166,540)	151,932)	149,160)	144,338)	129,028)	111,196)	110,606)	105,419)	95,687)	85,646)	87,925)
Research and development	(42,089)	(40,477)	(43,785)	(40,869)	(41,041)	(37,708)	(31,989)	(33,004)	(30,525)	(26,357)	(25,345)	(25,655)	(23,969)	(23,790)	(25,548)	(23,965)	(22,717)	(21,273)	(21,270)	(17,706)	(19,390)	(16,931)	(16,325)	(16,349)	(18,052)	(15,660)
Selling, general and administrative	(116,958)	(117,996)	(109,605)	(107,618)	(102,779)	(103,484)	(100,374)	(86,198)	(79,167)	(68,444)	(83,892)	(85,674)	(85,956)	(86,078)	(81,296)	(80,220)	(78,895)	(81,139)	(75,501)	(66,556)	(60,080)	(60,597)	(60,100)	(53,935)	(53,086)	(51,032)
Acquired in-process research and development	—)	—)	—)	(496)	—)	(115,490)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Income (loss) from operations	57,994)	66,050)	65,003)	64,566)	60,436)	(49,285)	62,804)	71,351)	61,336)	34,066)	58,053)	70,259)	60,182)	60,725)	65,389)	62,355)	50,320)	46,748)	47,567)	44,766)	31,726)	33,078)	28,994)	25,403)	14,508)	21,233)
Interest and other income (expense), net	80,709)	3,772)	9,759)	(6,689)	6,835)	39,935)	10,690)	9,384)	11,579)	27,010)	(18,740)	26,757)	(42,824)	42,413)	33,141)	2,155)	1,513)	1,739)	940)	888)	758)	714)	362)	423)	228)	192)
Income (loss) before income taxes	138,703)	69,822)	74,762)	57,877)	67,271)	(9,350)	73,494)	80,735)	72,915)	61,076)	39,313)	97,016)	17,358)	103,138)	98,530)	64,510)	51,833)	48,487)	48,507)	45,654)	32,484)	33,792)	29,356)	25,826)	14,736)	21,425)
Income tax (provision) benefit	(32,570)	(15,268)	(14,437)	(12,125)	(10,318)	(17,175)	(16,638)	(18,867)	(10,702)	(16,488)	(7,515)	(27,799)	(4,287)	(14,215)	(24,569)	(19,648)	(1,706)	41,579)	(11,660)	(32,208)	(7,981)	3,582)	(14,457)	(10,394)	(5,861)	(8,515)
Net income (loss)	106,133)	54,554)	60,325)	45,752)	56,953)	(26,525)	56,856)	61,868)	62,213)	44,588)	31,798)	69,217)	13,071)	88,923)	73,961)	44,862)	50,127)	90,066)	36,847)	13,446)	24,503)	37,374)	14,899)	15,432)	8,875)	12,910)

Revenue demonstrates a consistent long-term upward trajectory, increasing from 102,995 thousand dollars in June 2016 to 265,921 thousand dollars by September 2022. While growth was generally steady, a notable contraction occurred in June 2020, where revenue dropped to 164,850 thousand dollars before recovering and continuing its ascent. Gross profit followed a similar growth pattern, expanding from 87,925 thousand dollars to 217,041 thousand dollars over the analyzed period, maintaining a high percentage of total revenue.

Operating Expense Trends: Research and development expenditures grew gradually from 15,660 thousand dollars in June 2016 to 42,089 thousand dollars in September 2022. Selling, general, and administrative expenses exhibited a more pronounced increase, rising from 51,032 thousand dollars to 116,958 thousand dollars. Despite the increase in absolute spending, these expenses grew at a slower rate than total revenue, suggesting improved operational leverage over time.
Operating Income and Non-Recurring Items: Income from operations generally trended upward, peaking at 66,050 thousand dollars in June 2022. However, a significant anomaly occurred in June 2021, where operating income fell to -49,285 thousand dollars. This deficit was primarily driven by a one-time charge of 115,490 thousand dollars for acquired in-process research and development, which offset the underlying operational profitability for that quarter.
Net Profitability and Bottom Line Volatility: Net income exhibited substantial volatility throughout the period. While the company remained profitable in most quarters, net income fluctuated between a low of -26,525 thousand dollars in June 2021 and a high of 106,133 thousand dollars in September 2022. These fluctuations were influenced by varying income tax provisions and significant swings in interest and other income, which reached a peak of 80,709 thousand dollars in the final reported quarter.

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Abiomed Inc. (NASDAQ:ABMD)

Income StatementQuarterly Data

Income Statement
Quarterly Data