Shockwave Medical Inc (NASDAQ:SWAV) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 04:30 pm ET


Shockwave Medical Inc (NASDAQ:SWAV) Q4 2019 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to ShockWave's Fourth Quarter and Year End 2019 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Debbie Kaster from the Gilmartin Group for a few introductory comments.

Debbie Kaster

Thank you all for participating in today's call. Joining me are Doug Godshall, President and Chief Executive Officer of ShockWave Medical; and Dan Puckett, Chief Financial Officer of ShockWave Medical.

Earlier today ShockWave released financial results for the quarter and year ended December 31, 2019. A copy of the press release is available on the company's website.

Before we begin, I'd like to remind you that management will make statements during the call that include forward-looking statements within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to expectations or predictions of future events, results or performance are forward-looking statements. All forward-looking statements including without limitation, our examination of operating trends and our future financial expectations, which includes expectations for hiring, growth in our organization and regulatory affairs and guidance for revenue in 2020 are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipating -- anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our business, please refer to the Risk Factor section of our S-1 on file with the SEC and available on EDGAR. ShockWave disclaims any intention or obligation, except as required by law to update or revise any financial projections or forward-looking statements whether because of new information, future events or otherwise. This conference call contains time sensitive information and is accurate only as of the live broadcast, today, February 13, 2020.

And with that, I'll turn the call over to Doug.

Doug Godshall

Thanks Debbie. Good afternoon everyone and thank you for joining us today. I'm pleased to welcome you to ShockWave's call to review our results for the fourth quarter and full year 2019. We reported $14.3 million in revenue for the fourth quarter and $42.9 million for the full year 2019, which were up $9.3 million and $30.7 million respectively over the same periods in 2018.

We continue to be encouraged by the growing adoption of Intravascular Lithotripsy or IVL, as unique solution for patients suffering from complex vascular calcification and by the strength and success of our field team in educating our customers and helping improve outcomes for patients with complex calcified disease. Dan will provide details on our financials a bit later in the call, but I'm going to start by highlighting some of our accomplishments over the past few months, and I will also share an update on how we are seeing IVL used, which has transformed a bit since we went public less