Axonics Q1 revenue $91.4M, up 29% YoY; gross margin record 75.8%

Axonics, Inc.

2024-Q1 EPS reported -$0.38 revenue$91,409,000

Net loss $19.1M vs $9.2M prior year, includes $3.8M acquisition costs for Boston Scientific merger.
Sacral neuromodulation revenue $71.7M (+30%), Bulkamid revenue $19.7M (+27%).
Adjusted EBITDA $3.0M vs $0.9M prior year; $6M cash compensation added back due to halted equity grants.
Cash and investments $349M as of March 31, 2024; no guidance issued.
Pending merger with Boston Scientific; equity grants stopped Jan 2024, shifting $6M to cash compensation.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Axonics, Inc. reported three months ended March 31, 2024 results: revenue $91.4 million, net income Net loss was $19.1 million.

Period: three months ended March 31, 2024
Revenue: $91.4 million
Net income: Net loss was $19.1 million
Result: reported results

Exact text from the filing

of Boston Scientific as we endeavor to bring our life-changing incontinence therapies to more patients than ever before.” First Quarter 2024 Financial Results • Net revenue was $91.4 million, an increase of 29% compared to the prior year period. ◦ Sacral neuromodulation revenue was $71.7 million, an increase of 30% compared to the prior year period. ◦ Bulkamid

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Source: SEC EDGAR

accession 0001603756-24-000061

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