Abiomed EPS beats by $0.03, revenue in-line, cuts FY guidance

Oct. 28, 2021 7:03 AM ETAbiomed, Inc. (ABMD)By: Gaurav Batavia, SA News Editor1 Comment
  • Abiomed (NASDAQ:ABMD): Q3 Non-GAAP EPS of $1.03 beats by $0.03; GAAP EPS of $1.24 beats by $0.22.
  • Revenue of $248.1M (+18.3% Y/Y) in-line.
  • Press Release
  • Worldwide Impella® heart pump product revenue for the quarter totaled $235.8 million, an increase of 18% compared to $199.7 million during the same period of the prior fiscal year.
  • U.S. Impella product revenue for the quarter totaled $189.8 million, an increase of 16% compared to $163.2 million during the same period of the prior fiscal year, with U.S. patient usage of Impella heart pumps up 8%.
  • FY22 Outlook:
  • Abiomed started the fiscal year with a range of $990 million to $1,030 million with growth of 17% - 22% versus prior year. After a strong Q1 and a solid July, the company upgraded guidance to $1,030 million to $1,050 million with growth of 22% - 24%. Given the delta resurgence and the U.S. hospital labor shortages, the company is updating its fiscal year 2022 revenue guidance and expects revenue to be in the range of $1,010 million to $1,030 million ($1.04B consensus), an increase of 19% to 22%, respectively compared to fiscal year 2021, slightly above the original fiscal year 22 guidance. The company expects its fiscal year 2022 non-GAAP operating margin* to be in the range of 24% - 25%.

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