ABMD - Abiomed shares rise on FQ1 topline beat FY forecast raise

Abiomed (NASDAQ:ABMD) shares rise nearly 6% premarket on the back of reporting first-quarter revenue that beat Wall Street estimates and raised its financial forecast for the year. The company hiked its FY 2022 global revenue forecast to $1,030M - $1,050M from $990M to $1,030M vs. consensus estimate of $1.02B. The company also said it expects FY 2022 non-GAAP operating margin to be in the range of 24% to 26%. Quarterly revenue grew 53% to$252.6M, beating analysts estimate by $9.13M. Worldwide Impella heart pump product revenue for the quarter totaled $241.5M, an increase of 55% compared to $155.4M during the same period of the prior fiscal year. Gross margin for the quarter was 82.1% compared to 78.2% during the same period of the prior fiscal year. "Q1 was a solid start with record global revenue and patient utilization in US, Europe and Japan, and we believe we are well-positioned for success in FY22," CEO Michael Minogue said.

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Abiomed shares rise on FQ1 topline beat, FY forecast raise