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How Abiomed’s Revenue Trended in the First Quarter

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Abiomed’s revenues

As discussed earlier, Abiomed (ABMD) reported revenues of $180.0 million in Q1 2019, a 36% increase as compared to revenues of ~$132.5 million in the first quarter of 2018.

The above graph compares the quarterly revenues of Abiomed since the first quarter of 2018.

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Q1 2019 performance

Abiomed’s top line increased ~35.9% to ~$180.0 million during Q1 2019. The increase was driven by a 37% increase in Impella heart pump sales globally to $173.7 million during Q1 2019 as compared to $127.2 million in the first quarter of 2018.

Impella heart pump sales

The revenues for Impella heart pump in the US markets increased by ~32% to $151.7 million during Q1 2019 as compared to $114.7 million in the first quarter of 2018.

The revenues for Impella heart pump outside US markets increased by ~75% to $21.9 million during Q1 2019 as compared to $12.5 million during the first quarter of 2018.

Profitability during Q1 2019

Abiomed reported a decrease in gross profit margin to 82.9% during Q1 2019 as compared to a gross profit margin of 83.5% during the first quarter of 2018. The operating margin increased to 26.0% during Q1 2019 as compared to an operating margin of 25.0% during the first quarter of 2018.

The GAAP net income increased by ~141% to $90.1 million in Q1 2019 as compared to the GAAP net income of $37.4 million during the first quarter of 2018.

The iShares US Healthcare ETF (IYH) holds 0.5% of its total investments in Abiomed (ABMD), 1.3% in Boston Scientific (BSX), 3.4% in Medtronic (MDT), and 9.4% in Johnson & Johnson (JNJ).

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