The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $177.1 million
Based in SUNNYVALE, California, Silk Road Medical Inc operates in the MANUFACTURING sector.
In the year ended December 31, 2023, the company reported total revenue of $177.13 million, showing a significant increase compared to the previous year's revenue of $138.64 million in 2022 and $101.48 million in 2021.
Cost of goods sold for the same period was $50.05 million, marking an increase from $37.88 million in 2022 and $25.45 million in 2021. This led to a gross profit of $127.09 million in 2023, compared to $100.76 million in 2022 and $76.03 million in 2021.
Operating expenses totaled $186.36 million in 2023, surpassing the expenses of $152.77 million in 2022 and $123.50 million in 2021. The company reported a loss from operations of $59.27 million in 2023, which was wider than the losses of $52.00 million in 2022 and $47.47 million in 2021.
Interest income for the year was $9.96 million in 2023, significantly higher than the $2.53 million in 2022 and $0.20 million in 2021. Interest expenses amounted to $6.87 million in 2023, higher than the expenses of $5.10 million in 2022 and $2.52 million in 2021. The company also incurred a net loss of $55.74 million in 2023, slightly less compared to the net loss of $55.01 million in 2022 and $49.81 million in 2021.
Additionally, the company experienced other comprehensive income, with a net loss per share of $(1.44) for both basic and diluted amounts in 2023, compared to $(1.54) in 2022 and $(1.44) in 2021. The weighted average common shares used to compute net loss per share were 38.80 million in 2023, 35.78 million in 2022, and 34.64 million in 2021.
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