Name: Shockwave Medical Inc. (NASDAQ:SWAV) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Shockwave Medical Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	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
Cash and cash equivalents	281,674)	328,422)	498,108)	141,458)	280,932)	156,586)	127,779)	99,913)	66,252)	89,209)	91,195)	84,268)	57,006)	50,423)	215,256)	218,296)	123,111)	139,045)	39,452)	41,924)	138,064)
Short-term investments	747,559)	662,132)	419,225)	117,131)	135,929)	147,907)	122,888)	124,993)	134,875)	111,772)	91,759)	90,478)	120,422)	151,931)	—)	13,109)	47,278)	56,304)	74,646)	83,213)	—)
Accounts receivable, net	124,440)	114,552)	98,819)	96,562)	84,309)	71,366)	64,224)	59,797)	47,842)	37,435)	29,966)	24,955)	19,613)	11,689)	10,711)	6,365)	7,811)	7,377)	5,551)	5,242)	3,939)
Inventory	111,215)	107,587)	97,180)	92,093)	83,256)	75,112)	68,974)	60,028)	53,369)	42,978)	38,744)	36,149)	33,538)	29,859)	28,868)	23,427)	15,921)	12,074)	9,227)	8,291)	7,014)
Prepaid expenses and other current assets	10,462)	12,567)	15,210)	9,118)	6,399)	8,292)	11,393)	7,275)	7,572)	4,508)	4,364)	3,781)	2,533)	2,398)	3,033)	3,117)	3,485)	1,897)	2,199)	1,953)	2,508)
Current assets	1,275,350)	1,225,260)	1,128,542)	456,362)	590,825)	459,263)	395,258)	352,006)	309,910)	285,902)	256,028)	239,631)	233,112)	246,300)	257,868)	264,314)	197,606)	216,697)	131,075)	140,623)	151,525)
Operating lease right-of-use assets	34,919)	29,707)	30,360)	31,117)	31,623)	32,365)	33,107)	26,045)	26,729)	27,496)	11,790)	6,825)	7,211)	7,568)	7,841)	8,130)	8,495)	8,825)	2,155)	2,398)	2,645)
Property and equipment, net	78,693)	68,923)	62,017)	59,803)	54,057)	48,152)	39,265)	32,253)	27,886)	24,361)	23,085)	21,467)	20,233)	16,362)	13,282)	13,287)	13,084)	4,910)	4,111)	3,244)	2,803)
Equity method investment	2,356)	1,643)	1,810)	2,543)	2,689)	3,512)	4,573)	4,476)	5,940)	5,987)	6,408)	6,750)	6,750)	—)	—)	—)	—)	—)	—)	—)	—)
Intangible assets, net	91,960)	92,857)	93,775)	94,692)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill	39,568)	39,568)	39,789)	39,789)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Deferred tax assets	111,900)	99,169)	109,432)	94,699)	97,941)	97,568)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other assets	9,001)	9,436)	8,234)	7,599)	6,112)	5,229)	3,606)	2,365)	2,055)	1,936)	1,684)	1,686)	1,764)	1,812)	1,667)	1,622)	1,553)	1,506)	548)	542)	566)
Noncurrent assets	368,397)	341,303)	345,417)	330,242)	192,422)	186,826)	80,551)	65,139)	62,610)	59,780)	42,967)	36,728)	35,958)	25,742)	22,790)	23,039)	23,132)	15,241)	6,814)	6,184)	6,014)
Total assets	1,643,747)	1,566,563)	1,473,959)	786,604)	783,247)	646,089)	475,809)	417,145)	372,520)	345,682)	298,995)	276,359)	269,070)	272,042)	280,658)	287,353)	220,738)	231,938)	137,889)	146,807)	157,539)

Total assets experienced substantial growth over the analyzed period, increasing from 157.5 million US dollars in March 2019 to 1.64 billion US dollars by March 2024. This expansion is primarily driven by a significant accumulation of liquid assets and a strategic increase in non-current assets starting in 2022.

Liquidity and Cash Management: A dominant trend is the aggressive increase in highly liquid assets. While cash and cash equivalents showed volatility between 2019 and 2022, a sharp escalation occurred in late 2023, peaking at approximately 498.1 million US dollars in September 2023. Simultaneously, short-term investments grew from negligible amounts in early 2019 to 747.6 million US dollars by March 2024. This shift indicates a strengthened capital position and a strategic move toward maximizing interest-bearing short-term instruments.
Operational Asset Scaling: Working capital components demonstrate a consistent upward trajectory, reflecting scaling business operations. Accounts receivable, net, grew from 3.9 million US dollars in March 2019 to 124.4 million US dollars in March 2024. Inventory followed a similar growth pattern, rising from 7.0 million US dollars to 111.2 million US dollars over the same period. The steady increase in these figures suggests a proportional rise in sales volume and product distribution requirements.
Non-Current Asset Evolution: Non-current assets remained relatively low until 2022, after which a significant structural change occurred. Property and equipment, net, grew steadily from 2.8 million US dollars to 78.7 million US dollars. A notable shift appeared in June 2023 with the introduction of intangible assets (approximately 94.7 million US dollars) and goodwill (approximately 39.8 million US dollars), indicating acquisition activity. Furthermore, deferred tax assets became a significant component of the balance sheet starting in late 2022, reaching 111.9 million US dollars by March 2024.
Overall Balance Sheet Composition: The composition of the balance sheet shifted from a lean structure in 2019 to one characterized by high liquidity and increased strategic investments. Current assets grew from 151.5 million US dollars to 1.27 billion US dollars, maintaining a high ratio relative to non-current assets. The overall trajectory indicates a transition from an early-stage operational phase to a well-capitalized entity with significant reserves and expanded infrastructure.

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Shockwave Medical Inc. (NASDAQ:SWAV)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data