Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Net Profit Margin since 2019
- Total Asset Turnover since 2019
- Aggregate Accruals
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Shockwave Medical Inc., consolidated statement of comprehensive income
US$ in thousands
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).
The financial data depicts notable fluctuations in net income and related comprehensive income items over the five-year period under review.
- Net Income (Loss)
- The net income figures demonstrate a significant improvement trajectory. Initially, there is a pronounced loss of $51.1 million in 2019, worsening to a loss of approximately $65.7 million in 2020. In 2021, the loss narrows substantially to around $9.1 million. A remarkable turnaround occurs in 2022, with net income showing a robust profit of approximately $216.0 million, followed by a slight decline in 2023 to $147.3 million in profit. This trend suggests a strong recovery and operational improvement over the analyzed period.
- Unrealized Gain (Loss) on Available-for-Sale Securities, Net of Tax
- This item shows minor variability, with a small gain of $35 thousand in 2019 converting into incremental losses in 2020 (-$5 thousand), 2021 (-$211 thousand), and 2022 (-$659 thousand). However, there is a recovery to a gain of $1.2 million in 2023. The fluctuations indicate sensitivity to market conditions affecting the valuation of securities held.
- Adjustment for Net (Gain) Loss Realized and Included in Other Income, Net
- Adjustments remain relatively insignificant in magnitude, with a minor loss recorded in 2020 (-$21 thousand) and small negative amounts in 2022 (-$6 thousand) and 2023 (-$5 thousand). These fluctuations seem immaterial to the overall income and comprehensive income trends.
- Other Comprehensive Income (Loss)
- Other comprehensive income follows a similar pattern to unrealized gains/losses on securities, starting with a positive figure ($35 thousand) in 2019, then negative in the next three years, reaching a low of -$665 thousand in 2022, before rebounding to a positive $1.16 million in 2023. This dynamic suggests changes in comprehensive income components outside net income, primarily driven by securities valuation.
- Comprehensive Income (Loss)
- Comprehensive income mirrors the trend of net income, starting with large losses in 2019 (-$51.1 million) and 2020 (-$65.7 million), followed by a considerably smaller loss in 2021 (-$9.3 million). A dramatic improvement is observed in 2022 with comprehensive income surging to a profit of $215.3 million, and continuing positively in 2023 at $148.4 million. The overall improvement in comprehensive income aligns closely with the net income recovery, indicating that other comprehensive income components had minimal offsetting effects.
In summary, the data reveals that the company experienced substantial financial losses during 2019 and 2020, with a marked reduction of losses by 2021. The periods 2022 and 2023 show significant profit generation, demonstrating a strong financial rebound. The other comprehensive income and securities-related gains/losses show minor impacts relative to the core net income movements, contributing modestly to the overall comprehensive income. The trend points towards successful operational improvements and positive performance recovery in recent years.