Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age
Estimated Total Useful Life
Estimated Age, Time Elapsed Since Purchase
Estimated Remaining Life

Shockwave Medical Inc., balance sheet: property, plant and equipment

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Equipment	19,687)	12,784)	7,948)	5,550)	5,254)
Office furniture	1,839)	1,171)	549)	157)	76)
Software	848)	904)	742)	175)	97)
Building	12,166)	—)	—)	—)	—)
Land	2,268)	—)	—)	—)	—)
Leasehold improvements	38,168)	33,703)	17,742)	5,808)	1,329)
Construction in progress	11,016)	9,765)	3,544)	7,800)	553)
Property and equipment, gross	85,992)	58,327)	30,525)	19,490)	7,309)
Accumulated depreciation and amortization	(17,069)	(10,175)	(6,164)	(3,128)	(2,399)
Property and equipment, net	68,923)	48,152)	24,361)	16,362)	4,910)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Property and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Shockwave Medical Inc. property and equipment, gross increased from 2021 to 2022 and from 2022 to 2023.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Shockwave Medical Inc. property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Shockwave Medical Inc., asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	20.39%	17.44%	20.19%	16.05%	32.82%
Estimated total useful life (years)	11	12	8	10	6
Estimated age, time elapsed since purchase (years)	2	2	2	2	2
Estimated remaining life (years)	9	10	7	9	4

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Shockwave Medical Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Shockwave Medical Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Shockwave Medical Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		Shockwave Medical Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization	17,069)	10,175)	6,164)	3,128)	2,399)
Property and equipment, gross	85,992)	58,327)	30,525)	19,490)	7,309)
Land	2,268)	—)	—)	—)	—)
Asset Age Ratio
Average age¹	20.39%	17.44%	20.19%	16.05%	32.82%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property and equipment, gross – Land)
= 100 × 17,069 ÷ (85,992 – 2,268) = 20.39%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Shockwave Medical Inc. average age ratio of depreciable property, plant and equipment improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in thousands)
Property and equipment, gross	85,992)	58,327)	30,525)	19,490)	7,309)
Land	2,268)	—)	—)	—)	—)
Depreciation and amortization expense	7,700)	4,900)	3,600)	1,900)	1,300)
Asset Age Ratio (Years)
Estimated total useful life¹	11	12	8	10	6

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated total useful life = (Property and equipment, gross – Land) ÷ Depreciation and amortization expense
= (85,992 – 2,268) ÷ 7,700 = 11

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Shockwave Medical Inc. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in thousands)
Accumulated depreciation and amortization	17,069)	10,175)	6,164)	3,128)	2,399)
Depreciation and amortization expense	7,700)	4,900)	3,600)	1,900)	1,300)
Asset Age Ratio (Years)
Time elapsed since purchase¹	2	2	2	2	2

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation and amortization expense
= 17,069 ÷ 7,700 = 2

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Shockwave Medical Inc. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in thousands)
Property and equipment, net	68,923)	48,152)	24,361)	16,362)	4,910)
Land	2,268)	—)	—)	—)	—)
Depreciation and amortization expense	7,700)	4,900)	3,600)	1,900)	1,300)
Asset Age Ratio (Years)
Estimated remaining life¹	9	10	7	9	4

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated remaining life = (Property and equipment, net – Land) ÷ Depreciation and amortization expense
= (68,923 – 2,268) ÷ 7,700 = 9

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Asset age ratio	Description	The company
Estimated remaining life		Shockwave Medical Inc. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Shockwave Medical Inc. (NASDAQ:SWAV)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life