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Abiomed registers $248.1 m revenue in Sept quarter

Worldwide Impella heart pump product revenue for the quarter totalled $235.8 million

Abiomed, a leading provider of breakthrough heart support technologies, recently announced financial results for the quarter ended September 30, 2021. 

The revenue for the quarter totalled $248.1 million, an increase of 18 per cent compared to $209.8 million during the same period of the prior fiscal year. Worldwide Impella heart pump product revenue for the quarter totalled $235.8 million, an increase of 18 per cent compared to $199.7 million during the same period of the prior fiscal year. The US Impella product revenue for the quarter totalled $189.8 million, an increase of 16 per cent compared to $163.2 million during the same period of the prior fiscal year, with US patient usage of Impella heart pumps up 8 per cent.

Outside the US, Impella product revenue for the quarter totalled $46.0 million, an increase of 26 per cent compared to $36.5 million during the same period of the prior fiscal year. Specifically, Europe product revenue for the quarter totaled $31.3 million, an increase of 28 per cent compared to $24.5 million during the same period of the prior fiscal year. In addition, Japan product revenue for the quarter totaled $11.8 million, an increase of 18 per cent compared to $10 million during the same period of the prior fiscal year.

Gross margin for the quarter was 82.3 per cent compared to 81.5 per cent during the same period of the prior fiscal year.Non-GAAP operating income was $60.4 million, or 24.4 per cent non-GAAP operating margin for the quarter, compared to $61.3 million non-GAAP operating income, or 29.2 per cent non-GAAP operating margin during the same period of the prior fiscal year. GAAP operating income and GAAP operating margin were equal to non-GAAP operating income and non-GAAP operating margin for the quarter and the same period of the prior fiscal year, as there were no non-GAAP adjustments in the respective periods.

The company generated operating cash flows of $60.5 million during the quarter. As of September 30, 2021, the company had $861.5 million of cash and cash equivalents and marketable securities and no debt.

“In Q2, we made progress on product innovation and regulatory milestones while leveraging our commercial field team and Abiomed 2.0 Playbook in a challenging environment,” said Michael R Minogue, Abiomed’s Chairman, President and CEO. “Abiomed remains focused on disciplined execution and sustainable growth as we continue to pursue our goal of becoming the global standard of care for heart pumps that recover hearts and save lives.”

The Impella 2.5, Impella CP and Impella 5.0 heart pumps has received Central Drugs Standard Control Organization (CDSCO) approval in India for use during high-risk percutaneous coronary intervention (PCI), cardiogenic shock, and other reduced left ventricular function conditions. The first patient was treated with the Impella 2.5 heart pump at Fortis Escorts Heart Institute in New Delhi in 2018.

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