Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Shockwave Medical Inc., consolidated balance sheet: liabilities and stockholders’ equity (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
Accounts payable	9,843)	8,868)	6,870)	12,869)	11,050)	6,721)	3,469)	5,266)	8,467)	3,520)	3,632)	2,633)	3,728)	1,466)	1,972)	2,562)	2,150)	2,790)	2,486)	2,216)	3,967)
Debt, current portion	—)	—)	—)	—)	80,000)	—)	—)	11,000)	8,250)	5,500)	2,750)	4,125)	4,950)	3,300)	1,650)	—)	—)	6,667)	6,667)	5,000)	3,333)
Accrued liabilities	78,838)	91,696)	69,764)	65,769)	49,640)	55,375)	49,492)	47,253)	33,019)	40,870)	33,017)	28,317)	23,918)	19,942)	16,662)	14,381)	15,826)	13,777)	9,496)	7,378)	6,439)
Operating lease liability, current portion	3,653)	3,641)	1,569)	1,582)	1,308)	1,278)	1,260)	2,688)	1,294)	1,738)	867)	920)	898)	873)	841)	798)	787)	774)	742)	806)	877)
Current liabilities	92,334)	104,205)	78,203)	80,220)	141,998)	63,374)	54,221)	66,207)	51,030)	51,628)	40,266)	35,995)	33,494)	25,581)	21,125)	17,741)	18,763)	24,008)	19,391)	15,400)	14,616)
Operating lease liability, noncurrent portion	40,336)	35,103)	32,358)	33,205)	34,058)	34,928)	38,532)	27,157)	32,361)	28,321)	11,939)	6,911)	7,213)	7,488)	7,685)	7,903)	8,077)	8,125)	1,543)	1,732)	1,916)
Convertible debt, noncurrent portion	732,810)	731,863)	730,926)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Debt, noncurrent portion	—)	—)	—)	24,266)	24,231)	24,198)	14,853)	6,440)	9,033)	11,630)	14,226)	12,833)	11,836)	13,319)	14,801)	16,286)	16,126)	7,152)	8,705)	10,262)	11,821)
Related party contract liability, noncurrent portion	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	12,273)	—)	—)	—)	—)	—)	—)	—)	—)
Deferred tax liabilities	3,609)	3,609)	9,647)	10,421)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Long-term income tax liability	2,969)	1,526)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other liabilities	7,659)	9,307)	9,307)	9,307)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Noncurrent liabilities	799,656)	793,681)	794,511)	89,472)	70,562)	71,399)	65,658)	45,870)	53,667)	52,224)	38,438)	32,017)	31,322)	20,807)	22,486)	24,189)	24,203)	15,277)	10,248)	11,994)	13,737)
Total liabilities	891,990)	897,886)	872,714)	169,692)	212,560)	134,773)	119,879)	112,077)	104,697)	103,852)	78,704)	68,012)	64,816)	46,388)	43,611)	41,930)	42,966)	39,285)	29,639)	27,394)	28,353)
Preferred stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock	38)	37)	37)	37)	37)	36)	36)	36)	36)	35)	35)	35)	35)	35)	34)	34)	32)	31)	28)	28)	28)
Additional paid-in capital	586,017)	557,882)	535,197)	586,092)	568,705)	548,960)	535,230)	519,096)	507,092)	494,806)	486,014)	476,001)	471,477)	469,283)	464,812)	460,235)	374,386)	370,561)	271,394)	269,582)	268,822)
Accumulated other comprehensive income (loss)	(109)	293)	(149)	(391)	(367)	(867)	(1,612)	(1,337)	(1,017)	(202)	(7)	10)	16)	9)	—)	21)	103)	35)	57)	75)	—)
Retained earnings (accumulated deficit)	165,811)	110,465)	66,160)	31,174)	2,312)	(36,813)	(177,724)	(212,727)	(238,288)	(252,809)	(265,751)	(267,699)	(267,274)	(243,673)	(227,799)	(214,867)	(196,749)	(177,974)	(163,229)	(150,272)	(139,664)
Stockholders’ equity	751,757)	668,677)	601,245)	616,912)	570,687)	511,316)	355,930)	305,068)	267,823)	241,830)	220,291)	208,347)	204,254)	225,654)	237,047)	245,423)	177,772)	192,653)	108,250)	119,413)	129,186)
Total liabilities and stockholders’ equity	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)

Accounts payable: The accounts payable exhibit significant volatility over the period. Starting from approximately $3.97 million in March 2019, the figure decreases sharply to $2.15 million by March 2020, followed by fluctuations with peaks notably at $11.05 million in March 2023 and $12.87 million in June 2023. Recent quarters show a reduction and stabilization around $8.9 to $9.8 million by March 2024.
Current portion of debt: The current portion of debt shows an irregular pattern with some missing data in 2020, reflecting intermittent repayments or refinancing activities. After a peak of $11 million in June 2022, a striking jump to $80 million is observed in March 2023, indicating significant short-term borrowing or reclassification of liabilities in this period.
Accrued liabilities: Accrued liabilities steadily increased from about $6.44 million in March 2019 to nearly $91.7 million in December 2023. While some quarters demonstrate moderate growth, there is a clear upward trajectory with peaks in recent periods, culminating in $78.8 million in March 2024, highlighting increased obligations accrued but unpaid.
Operating lease liabilities (current and noncurrent): Current operating lease liabilities remain relatively stable with minor growth over the period, except for a notable spike to $3.6 million in December 2023 and March 2024. Noncurrent lease liabilities fluctuate but generally maintain a range between $7 million and $40 million, with a general downtrend from 2019 levels but recent increases toward $40 million in early 2024.
Current liabilities: Current liabilities show a consistent increasing trend from approximately $14.6 million in March 2019 to a peak of $141.99 million in March 2023. The amounts decline somewhat afterward but remain elevated around $92.3 million in March 2024. This growth is indicative of increasing short-term obligations or possibly inventory and creditor-related expansions.
Noncurrent liabilities and debt: Noncurrent liabilities grow over the period from $13.7 million in March 2019 to exceptional levels in the range of $700 million plus in 2023 and 2024, which reflects the addition of a substantial convertible debt issuance (over $730 million). Traditional long-term debt shows a fluctuating but generally lower magnitude from $11.8 million to around $24.2 million, indicating some debt restructuring or repayments alongside the convertible debt.
Deferred tax and other long-term liabilities: Deferred tax liabilities emerge only in 2023, declining from around $10.4 million in March 2023 to $3.6 million by December 2023. Long-term income tax liabilities start appearing late in the dataset and increase from approximately $1.5 million in September 2023 to about $3 million by December 2023. Other liabilities remain steady at approximately $9.3 million before a reduction to $7.7 million by the last quarter of 2023.
Total liabilities: Total liabilities increase notably from just under $28.4 million in March 2019 to an extraordinary $897.9 million in March 2024. This growth is predominantly driven by increases in both current and noncurrent liabilities, especially the marked issuance of convertible debt. The large jump in the 2023-2024 timeframe indicates significant leverage or capital raising activities during this period.
Stockholders’ equity: Stockholders’ equity exhibits growth from $129 million in March 2019 to approximately $752 million by March 2024. The increase suggests consistent equity financing or retained earnings growth. Notably, retained earnings turned positive and expanded significantly from a negative $139.7 million in 2019 to nearly $166 million positive by March 2024, reflecting improved profitability or other comprehensive income impacts.
Retained earnings (accumulated deficit): This line shows a compelling turnaround from a substantial accumulated deficit of roughly -$139.7 million in early 2019 to a positive retained earnings balance exceeding $165 million by March 2024, marking a strong recovery in accumulated earnings over the five-year span.
Comprehensive income and other equity items: Accumulated other comprehensive income/loss fluctuates around zero with minor gains and losses, indicating relatively minor impacts from foreign currency translation or other comprehensive income components. Additional paid-in capital rises steadily from $269 million to above $586 million, confirming ongoing capital contributions or stock-based compensation effects.
Total liabilities and stockholders’ equity: The total of liabilities and stockholders' equity grows markedly from about $157.5 million in March 2019 to over $1.64 billion by March 2024, highlighting the substantial expansion in the company's capital structure, driven by both large debt issuances and increases in equity.

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Shockwave Medical Inc. (NASDAQ:SWAV)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data