Income Statement

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.

Shockwave Medical Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Product revenue	730,230)	489,733)	237,146)	67,789)	42,927)
Revenue	730,230)	489,733)	237,146)	67,789)	42,927)
Cost of product revenue	(95,388)	(64,996)	(41,438)	(20,991)	(17,159)
Cost of revenue	(95,388)	(64,996)	(41,438)	(20,991)	(17,159)
Gross profit	634,842)	424,737)	195,708)	46,798)	25,768)
Research and development	(145,647)	(81,679)	(50,544)	(36,926)	(32,853)
Sales and marketing	(234,837)	(161,995)	(111,288)	(51,672)	(30,620)
General and administrative	(95,265)	(56,929)	(34,747)	(23,863)	(14,134)
Operating expenses	(475,749)	(300,603)	(196,579)	(112,461)	(77,607)
Income (loss) from operations	159,093)	124,134)	(871)	(65,663)	(51,839)
Loss from equity method investment	(1,869)	(2,475)	(6,286)	—)	—)
Interest expense	(6,905)	(1,886)	(1,096)	(1,212)	(944)
Change in fair value of warrant liability	—)	—)	—)	—)	(609)
Other income (expense), net	23,962)	1,055)	(582)	1,256)	2,345)
Net income (loss) before taxes	174,281)	120,828)	(8,835)	(65,619)	(51,047)
Income tax (provision) benefit	(27,003)	95,168)	(301)	(80)	(62)
Net income (loss)	147,278)	215,996)	(9,136)	(65,699)	(51,109)

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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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Shockwave Medical Inc. revenue increased from 2021 to 2022 and from 2022 to 2023.
Income (loss) from operations	The net result for the period of deducting operating expenses from operating revenues.	Shockwave Medical Inc. income (loss) from operations increased from 2021 to 2022 and from 2022 to 2023.
Net income (loss) before taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Shockwave Medical Inc. net income (loss) before taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Shockwave Medical Inc. net income (loss) increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Shockwave Medical Inc. (NASDAQ:SWAV)

Income Statement