Analysis of Revenues
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- Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2019
- Operating Profit Margin since 2019
- Total Asset Turnover since 2019
- Price to Operating Profit (P/OP) since 2019
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Revenues as Reported
Shockwave Medical Inc., income statement, revenues
US$ in thousands
| 12 months ended: | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coronary | |||||||||||
| Peripheral | |||||||||||
| Reducer | |||||||||||
| Other | |||||||||||
| Product revenue |
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).
- Overall Product Revenue Trend
- The product revenue of the company exhibited a strong upward trajectory over the five-year period analyzed. Starting at $42,927 thousand in 2019, the revenue increased significantly each year, culminating in $730,230 thousand by 2023. This represents a substantial growth of over 17 times the initial figure over the period.
- Coronary Segment Analysis
- The coronary segment showed notable growth from 2019 to 2023. Revenue rose from $15,621 thousand in 2019 to $528,845 thousand in 2023. The most pronounced increase occurred between 2020 and 2021, where the revenue surged from $24,586 thousand to $161,463 thousand, indicating a rapid expansion phase. Growth continued at a robust pace in the subsequent years, albeit at a slower rate compared to the sharp rise between 2020 and 2021.
- Peripheral Segment Analysis
- The peripheral segment also displayed consistent growth during the period. Beginning with $26,325 thousand in 2019, revenue nearly doubled over two years to $74,064 thousand by 2021 and continued rising steadily to $194,346 thousand in 2023. While the absolute numbers are smaller than the coronary segment for the last two years, the peripheral segment's growth rate appears steady and positive without abrupt fluctuations.
- Reducer Segment Introduction and Development
- The reducer segment data is only available for the year ending 2023, with revenue recorded at $4,368 thousand. This indicates product diversification or a newly introduced product line. Although currently a small part of the overall revenue, its presence in 2023 suggests potential for expansion in future periods.
- Other Segment Observation
- The 'Other' segment demonstrated moderate revenue growth from $981 thousand in 2019 to $3,590 thousand in 2022, followed by a decline to $2,671 thousand in 2023. This decline in the last year could suggest a reduction in ancillary product sales or a shift in focus towards the main product categories.
- Segment Contribution and Shifts
- Throughout the analysis period, the coronary segment grew to become the dominant contributor to product revenue, particularly after 2021, driving most of the total revenue increase. The peripheral segment also contributed significantly but did not experience the same acceleration. The emergence of the reducer segment adds a new revenue stream, while the 'Other' segment's stable but less consistent performance appears marginal in comparison.