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. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Analysis of Debt
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Abiomed Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-K (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30).
- Revenue Trend
- Revenue demonstrates a generally upward trajectory from mid-2016 through mid-2022, increasing from approximately $103 million to a peak near $277 million. Notable quarterly jumps are observed toward late 2017 and persistently high levels through 2021, followed by minor fluctuations but overall sustained growth despite occasional dips.
- Cost of Revenue Pattern
- The cost of revenue follows a similar growth pattern to revenue, rising from around $15 million to about $52 million over the period. Increases are steady with occasional spikes, especially in late 2018 and early 2022, reflecting higher expenses correlating with overall sales growth.
- Gross Profit Development
- Gross profit shows steady growth aligned with revenue and cost trends, escalating from roughly $88 million to over $217 million. Variability exists, with some slower growth periods, notably around 2020, likely influenced by expense fluctuations and market conditions.
- Research and Development (R&D) Expenses
- R&D expenses exhibit a consistent upward trend, growing from about $15.7 million to over $42 million. This indicates sustained investment in innovation and product development, with pronounced increases post-2019, suggesting strategic prioritization of research activities.
- Selling, General and Administrative (SG&A) Expenses
- SG&A costs increase moderately from roughly $51 million to approximately $117 million over the dataset period. The expenses grow steadily, with some volatility, particularly marked increases after 2018, reflecting expanding operational or marketing efforts concurrent with revenue growth.
- Acquired In-Process Research and Development
- A significant one-time charge appears in March 2021, amounting to approximately $115 million, representing a non-recurring acquisition-related expense. Additional smaller charges occur intermittently, indicating sporadic strategic investments or acquisitions in research capabilities.
- Operating Income Dynamics
- Operating income generally trends upward, starting from about $21 million and reaching over $65 million by 2022, with fluctuations that correspond to changes in gross profit and operating expenses. A sharp drop to a loss near negative $49 million is seen in late 2021, likely due to the aforementioned acquisition expense.
- Interest and Other Income (Expense)
- This category shows substantial volatility, with usual amounts under a few million dollars but several extraordinary spikes, including a $33 million gain in early 2019 and a large $81 million gain in late 2022. There are also notable negative swings, signifying variable investment returns or financial transactions impacting net income.
- Income Before Taxes
- Income before taxes mostly matches operating income trends supported by interest income variations, fluctuating broadly from approximately $21 million up to a peak of $139 million in late 2022. The period includes several quarters of steep rises and declines, reflecting the irregular nature of other income and extraordinary items.
- Income Tax Provision
- Income tax provisions alternate between positive and negative values, with significant spikes in charges during periods of higher income before taxes, reflecting tax obligations tied to profitability. Occasional tax benefits coincide with losses or low income periods, contributing to net income variability.
- Net Income Movements
- Net income exhibits substantial growth and volatility, rising from roughly $13 million in mid-2016 to over $106 million by late 2022. Several steep increases correspond to large non-operational gains or tax adjustments. A notable net loss occurs in late 2021, linked to acquisition-related expenses impacting operating income.