Rhea-AI Summary
Shockwave Medical, Inc. reported strong financial results for the first quarter of 2024, with revenue reaching $218.8 million, a 36% increase from the same period in 2023. The company's gross profit was $190.6 million, operating expenses rose by 48%, and net income improved to $55.3 million. Adjusted EBITDA increased by 19% to $68.5 million. Shockwave Medical's cash position stood at $1,029.2 million as of March 31, 2024. The company has withdrawn its full year 2024 guidance due to the proposed acquisition by Johnson & Johnson.
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FAQ
What is the current stock price of Shockwave Medical (SWAV)?
Shockwave Medical (SWAV) last closed at $334.75.
What is the market cap of Shockwave Medical (SWAV)?
The market cap of Shockwave Medical (SWAV) is approximately $12.6B.