SILK - Silk Road Medical sees Q3 revenue $37.4M consensus $33.5M

• Silk Road Medical ( NASDAQ: SILK ) stock dropped 6.3% after hours on Monday after the firm announced preliminary estimates of certain metrics as of the end of Q3.
• The company estimates revenue of $37.4M, as compared to $24.7M for the three months ended September 30, 2021, an increase of $12.7M or 51% compared to three months ended September 30, 2021.
• Q3 Gross profit is expected to be between $27.8 million and $28.2 million, compared to $18.6 million for the three months ended September 30, 2021; gross margin for the three months ended September 30, 2022 to be between 74% and 75%, compared to 75% for the three months ended September 30, 2021.
• The company’s estimated net loss was between $10.2M and $10.6M, as compared to $13.9M for the three months ended September 30, 2021, a decrease of between $3.3M and $3.7M or between 24% and 27%, compared to the three months ended September 30, 2021.
• As of September 30, 2022, the company’s preliminary estimated cash and cash equivalents and short-term investments balance was $105.1M.

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