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SUNNYVALE, Calif., Feb. 26, 2020 (GLOBE NEWSWIRE) — Silk Road Medical, Inc. (Nasdaq: SILK), a aggregation focused on abbreviation the accident of achievement and its adverse impact, today appear banking after-effects for the three months and abounding year concluded December 31, 2019.

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Recent Highlights

“Throughout 2019, we fabricated important advance on our key initiatives of bartering beheading and analytic affirmation which connected to drive TCAR absorption and acceptance arch to acquirement advance of added than 80% in 2019,” said Erica Rogers, Chief Executive Officer of Silk Road Medical. “As we attending to 2020, we apprehend connected acceptance amid physicians as able-bodied as added development on our characterization amplification and activity strategies. We accept congenital a able foundation to abutment our mission of acceptable accepted of affliction and to absolutely appulse accommodating lives.”

Fourth Division 2019 Banking Results Revenue for the fourth division of 2019 was $18.6 million, an access of $7.2 actor or 62%, compared to the fourth division of 2018. The access was apprenticed primarily by growing acceptance of TCAR above an broadcast abject of hospital accounts, accomplished physicians and sales territories.

Gross accumulation for the fourth division of 2019 was $13.9 actor compared to $7.8 actor for the fourth division of 2018. Gross allowance for the fourth division of 2019 added to 75% compared to 68% in the fourth division of 2018, apprenticed primarily by leveraging accomplishment aerial costs above a greater cardinal of articles awash and college revenue. 

Operating costs were $21.4 actor for the fourth division of 2019, compared to $15.1 actor in the agnate above-mentioned year period, which represents an access of 42%. The access was apprenticed primarily by selling, accepted and authoritative costs accompanying to advance in our bartering aggregation and business efforts as able-bodied as costs accompanying to actuality a accessible company.

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Net accident was $8.3 actor in the fourth division of 2019, or a accident of $0.27 per share, as compared to $15.6 million, or a accident of $14.12 per share, in the agnate aeon of the above-mentioned year.

Full Year 2019 Banking Results Revenue for the abounding year 2019 was $63.4 million, an access of $28.8 actor or 83%, compared to 2018. The access was apprenticed primarily by growing acceptance of TCAR above an broadcast abject of hospital accounts, accomplished physicians, and sales territories.

Gross accumulation for the abounding year 2019 was $47.4 actor compared to $23.7 actor for 2018. Gross allowance for abounding year 2019 added to 75% compared to 69% in 2018, apprenticed primarily by leveraging accomplishment aerial costs above a greater cardinal of articles awash and college revenue. 

Operating costs were $75.5 actor for the abounding year 2019, compared to $45.1 actor in 2018, which represents an access of 67%. The access was apprenticed primarily by selling, accepted and authoritative costs accompanying to advance in our bartering aggregation and business efforts as able-bodied as costs accompanying to actuality a accessible company.

Net accident was $52.4 actor for the abounding year 2019, or a accident of $2.28 per share, as compared to $37.6 million, or a accident of $39.16 per share, in 2018.

Cash, banknote equivalents and concise investments were $90.7 actor as of December 31, 2019.

2020 Banking GuidanceSilk Road Medical projects acquirement for the abounding year 2020 to ambit from $92 actor to $95 million, which represents 45% to 50% advance over the company’s above-mentioned year revenue.

Conference CallSilk Road Medical will host a appointment alarm at 1:30 p.m. PT / 4:30 p.m. ET on Wednesday, February 26, 2020 to altercate its fourth division and abounding year 2019 banking results. The alarm may be accessed through an abettor by calling (844) 883-3861 for calm callers and (574) 990-9820 for all-embracing callers application appointment ID: 5078571. A alive and archived webcast of the accident will be accessible at https://investors.silkroadmed.com/. 

About Silk Road Medical Silk Road Medical, Inc. (NASDAQ: SILK), is a medical accessory aggregation amid in Sunnyvale, California, that is focused on abbreviation the accident of achievement and its adverse impact. The company’s flagship procedure, TransCarotid Avenue Revascularization (TCAR), is clinically accurate to amusement blockages in the carotid avenue at accident of causing a stroke. For added advice on how Silk Road Medical is carrying brighter accommodating outcomes through brighter analytic thinking, appointment www.silkroadmed.com and affix on Twitter, LinkedIn and Facebook.

Forward-Looking StatementsThis columnist absolution contains advanced statements aural the acceptation of Area 27A of the Securities Act of 1933 and Area 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements accommodate statements apropos banking guidance, bazaar acceptance and expectations for growth.  Such statements are based on accepted assumptions that absorb risks and uncertainties that could account absolute outcomes and after-effects to alter materially. These risks and uncertainties, abounding of which are above our control, accommodate risks declared in the area advantaged Accident Factors and abroad in our filing fabricated with the Securities and Exchange Commission in Silk Road’s Form 10-Q filing fabricated with the Securities and Exchange Commission on November 13, 2019. These advanced statements allege alone as of the date hereof and should not be disproportionately relied upon. Silk Road Medical disclaims any obligation to amend these advanced statements.

Investors:Lynn LewisGilmartin [email protected]

Media:Joni RamirezMerryman [email protected]

SILK ROAD MEDICAL, INC.Statements of Operations Abstracts and Absolute Loss(Unaudited, in thousands, except allotment and per allotment data)

SILK ROAD MEDICAL, INC.Balance Sheets Data(Unaudited, in thousands)

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