Silk Road Medical Inc Stock Research

Market Summary

USD30.19-0.03

Market Closed

-0.10%

SILK Alerts

2 major insider sales recently.
Big jump in Revenue (Y/Y)
Losses in recent quarter

SILK Stock Price

SILK RSI Chart

SILK Valuation

Market Cap

1.2B

Price/Earnings (Trailing)

-21.33

Price/Sales (Trailing)

7.75

EV/EBITDA

-29.47

Price/Free Cashflow

-35.17

SILK Price/Sales (Trailing)

SILK Profitability

Return on Equity

-33.57%

Return on Assets

-20.4%

Free Cashflow Yield

-2.84%

SILK Fundamentals

SILK Revenue

Revenue (TTM)

150.7M

Revenue Y/Y

43.22%

Revenue Q/Q

0.15%

SILK Earnings

Earnings (TTM)

-54.8M

Earnings Y/Y

1.31%

Earnings Q/Q

-30.49%

Price Action

52 Week Range

29.2058.04

(Low)(High)

Last 7 days

-6.6%

Last 30 days

-31.7%

Last 90 days

-34.7%

Trailing 12 Months

-9.1%

SILK Financial Health

Current Ratio

10.41

SILK Investor Care

Shares Dilution (1Y)

10.36%

Diluted EPS (TTM)

-1.49

Peers (Alternatives to Silk Road Medical)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SYK	110.8B	19.0B	-8.11%	17.93%	46.98	6.01	8.73%	30.37%
ISRG	107.9B	6.4B	1.59%	35.23%	82.22	16.77	8.89%	-20.19%
BSX	74.1B	13.0B	-2.50%	25.53%	106.12	5.84	7.26%	-32.95%
BDX	71.3B	18.8B	-8.88%	-4.13%	44.09	3.79	-1.96%	-15.83%
EW	51.0B	5.5B	-3.79%	-16.48%	34.28	9.28	2.68%	-3.23%
MID-CAP
SWAV	7.2T	557.2M	-4.80%	67.52%	82.2K	16.8K	86.42%	730.06%
PEN	11.7B	884.6M	7.66%	109.19%	1.8K	13.24	13.08%	200.12%
GMED	5.9B	1.1B	-6.80%	-18.72%	34.14	5.75	11.20%	53.04%
IRTC	3.5B	430.0M	-14.11%	-18.87%	-33.26	8.1	26.13%	15.73%
TNDM	1.7B	794.7M	-34.98%	-61.87%	-8.24	2.11	7.73%	-3556.34%
SMALL-CAP
ATEC	1.7B	389.0M	2.85%	97.40%	-11.25	4.42	44.08%	6.96%
SILK	1.2B	150.7M	-31.68%	-9.12%	-21.33	7.75	40.31%	1.80%
AVNS	1.1B	814.3M	-18.01%	-14.60%	25.63	1.4	6.96%	121.89%
CSII	839.3M	239.8M	0.70%	0.15%	-22.16	3.5	-4.74%	-31.15%

Financials for Silk Road Medical

* denotes actual numbers (not divided by Thousands)
Income Statement (Last 12 Months)					(In Thousands)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	8.7%	150,749	138,638	126,833	114,160	107,443
Gross Profit	8.1%	108,924	100,762	92,703	83,262	78,959
Operating Expenses	6.0%	161,884	152,766	146,139	140,763	132,218
S&GA Expenses	5.9%	123,125	116,317	111,391	107,619	102,468
R&D Expenses	6.3%	38,759	36,449	34,748	33,144	29,750
EBITDA	0.9%	-46,892	-47,295	-	-	-
EBITDA Margin	6.7%	-0.41*	-0.44*	-	-	-
EBT Margin	5.9%	-0.44*	-0.46*	-	-	-
Interest Expenses	21.0%	6,170	5,098	4,000	2,919	2,516
Net Income	0.4%	-54,791	-55,010	-57,089	-60,655	-55,796
Net Income Margin	11.8%	-0.40*	-0.45*	-0.53*	-0.52*	-
Free Cahsflow	20.8%	-37,586	-47,479	-49,991	-48,451	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-3.7%	260	270	163	163	143
Current Assets	-9.7%	230	255	147	147	128
Cash Equivalents	-8.6%	51.00	55.00	51.00	88.00	94.00
Inventory	-10.9%	17.00	19.00	20.00	18.00	18.00
Net PPE	-5.1%	9.00	9.00	10.00	10.00	10.00
Liabilities	-3.6%	102	106	105	103	75.00
Current Liabilities	-14.8%	21.00	24.00	24.00	21.00	29.00
. Short Term Borrowings	-	10.00	-	-	-	-
LT Debt, Non Current	0.3%	75.00	75.00	74.00	74.00	39.00
Shareholder's Equity	-3.8%	158	164	57.00	60.00	68.00
Retained Earnings	-4.8%	-360	-343	-331	-320	-305
Additional Paid-In Capital	2.0%	518	508	388	381	373
Shares Outstanding	0.9%	39.00	38.00	35.00	35.00	35.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	7.9%	-30.00	-32.58	-41.29	-43.06	-41.69
Share Based Compensation	15.4%	29.00	25.00	21.00	19.00	16.00
Cashflow From Investing	5.0%	-153	-162	-42.87	-2.00	34.00
Cashflow From Financing	0.7%	141	140	30.00	31.00	6.00

Risks for SILK

What is the probability of a big loss on SILK?

90.0%

Probability that Silk Road Medical stock will be more than 20% underwater in next one year

87.2%

Probability that Silk Road Medical stock will be more than 30% underwater in next one year.

42.9%

Probability that Silk Road Medical stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SILK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Silk Road Medical was unfortunately bought at previous high price.

Drawdowns

Returns for SILK

Cumulative Returns on SILK

-7.6%

3-Year Cumulative Returns

Which funds bought or sold SILK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	sold off	-100	-255,160	-	-%
2023-05-23	BROOKFIELD Corp /ON/	sold off	-100	-1,004,150	-	-%
2023-05-22	AMERIPRISE FINANCIAL INC	added	1.01	-1,065,360	3,162,640	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-73.87	-3,218,000	772,000	-%
2023-05-18	JPMORGAN CHASE & CO	added	99.87	2,608,000	8,040,000	-%
2023-05-17	Thrivent Financial for Lutherans	added	2.53	-5,359,000	16,889,000	0.04%
2023-05-17	Advisory Services Network, LLC	reduced	-94.13	-325,351	14,791	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-225,000	-	-%
2023-05-16	Baker Avenue Asset Management, LP	unchanged	-	-206	587	-%
2023-05-16	KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	added	1.58	-17,690,800	53,673,300	0.16%

Latest Funds Activity

Are funds buying SILK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SILK

No. of Funds

Silk Road Medical News

Schedule 13G FIlings of Silk Road Medical

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
May 10, 2023	wasatch advisors lp	-	0	SC 13G/A
Feb 14, 2023	alliancebernstein l.p.	6.9%	2,616,795	SC 13G/A
Feb 13, 2023	capital world investors	7.8%	2,966,730	SC 13G/A
Feb 10, 2023	flynn james e	3.66%	1,396,640	SC 13G/A
Feb 09, 2023	vanguard group inc	9.34%	3,562,110	SC 13G/A
Feb 08, 2023	wasatch advisors inc	-	0	SC 13G/A
Jan 31, 2023	blackrock inc.	7.0%	2,664,762	SC 13G/A
Apr 11, 2022	alliancebernstein l.p.	10.7%	3,747,528	SC 13G/A
Feb 14, 2022	alliancebernstein l.p.	8.6%	2,988,334	SC 13G/A
Feb 11, 2022	capital world investors	10.0%	3,476,630	SC 13G/A

SILK Fair Value

Show Fair-Value

Recent SEC filings of Silk Road Medical

View All Filings

Date Filed	Form Type	Document
May 30, 2023	SD	SD
May 15, 2023	S-3ASR	S-3ASR
May 12, 2023	4	Insider Trading
May 12, 2023	RW	RW
May 11, 2023	144	Notice of Insider Sale Intent
May 10, 2023	SC 13G/A	Major Ownership Report
May 09, 2023	10-Q	Quarterly Report
May 09, 2023	8-K	Current Report
May 09, 2023	S-3	S-3
May 03, 2023	4	Insider Trading

Latest Insider Trading transactions for SILK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-11	Rogers Erica J.	acquired	4,800	1.6	3,000	president and ceo
2023-05-11	Rogers Erica J.	sold	-106,530	35.51	-3,000	president and ceo
2023-05-01	Davis Andrew S.	sold	-300,593	44.5125	-6,753	chief commercial officer
2023-05-01	Davis Andrew S.	acquired	39,844	5.90032	6,753	chief commercial officer
2023-04-17	WEATHERMAN ELIZABETH H	sold	-209,550	41.91	-5,000	-
2023-04-11	Rogers Erica J.	sold	-238,635	39.7725	-6,000	president and ceo
2023-04-11	Rogers Erica J.	acquired	9,600	1.6	6,000	president and ceo
2023-04-03	Davis Andrew S.	acquired	32,372	4.79376	6,753	chief commercial officer
2023-04-03	Davis Andrew S.	sold	-266,203	39.42	-6,753	chief commercial officer
2023-03-15	WEATHERMAN ELIZABETH H	sold	-209,550	41.91	-5,000	-

About Silk Road Medical

Erica J. Rogers

www.silkroadmed.com

350

Silk Road Medical, Inc. operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices. The company was incorporated in 2007 and is headquartered in Sunnyvale, California.

SILK Income Statement

2023-03-31

Condensed Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Condensed Statements of Operations and Comprehensive Loss [Abstract]
Revenue	$ 40,131	$ 28,021
Cost of goods sold	12,526	8,577
Gross profit	27,605	19,444
Operating expenses:
Research and development	10,433	8,123
Selling, general and administrative	34,082	27,275
Total operating expenses	44,515	35,398
Loss from operations	(16,910)	(15,954)
Interest income	2,287	12
Interest expense	(1,693)	(621)
Other income (expense), net	(144)	(116)
Net loss	(16,460)	(16,679)
Other comprehensive loss:
Change in unrealized gain (loss) on investments, net	249
Net change in other comprehensive loss	249
Net loss and comprehensive loss	$ (16,211)	$ (16,679)
Net loss per share, basic	$ (0.43)	$ (0.48)
Net loss per share, diluted	$ (0.43)	$ (0.48)
Weighted average common shares used to compute net loss per share, basic	38,532,202	35,023,297
Weighted average common shares used to compute net loss per share, diluted	38,532,202	35,023,297

SILK Balance Sheet

2023-03-31

Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 50,427	$ 55,358
Short-term investments	138,640	158,316
Accounts receivable, net	19,956	18,007
Inventories	17,182	19,293
Prepaid expenses and other current assets	4,049	3,924
Total current assets	230,254	254,898
Long-term investments	15,285
Property and equipment, net	8,897	9,372
Restricted cash	155	155
Other non-current assets	4,996	5,260
Total assets	259,587	269,685
Current liabilities:
Accounts payable	5,272	2,523
Accrued liabilities	15,598	21,965
Total current liabilities	20,870	24,488
Long-term debt	74,848	74,596
Other liabilities	6,256	6,726
Total liabilities	101,974	105,810
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock, $0.001 par value Shares authorized: 5,000,000 at March 31, 2023 and December 31, 2022 Shares issued and outstanding: none at March 31, 2023 and December 31, 2022
Common stock, $0.001 par value Shares authorized: 100,000,000 at March 31, 2023 and December 31, 2022 Shares issued and outstanding: 38,708,441 and 38,355,972 at March 31, 2023 and December 31, 2022, respectively	39	38
Additional paid-in capital	517,663	507,715
Accumulated other comprehensive income (loss)	83	(166)
Accumulated deficit	(360,172)	(343,712)
Total stockholders’ equity	157,613	163,875
Total liabilities and stockholders’ equity	$ 259,587	$ 269,685