Exhibit 99.1

 

ABIOMED ANNOUNCES Q4 FY 2020 REVENUE OF $207 MILLION AND 28.1% OPERATING MARGIN

 

FY 2020 Annual Revenue of $841 Million, Up 9%, and 29.6% Operating Margin

 

DANVERS, Mass. — April 30, 2020

– Abiomed, Inc. (NASDAQ: ABMD), a leading provider of breakthrough heart support technologies today reported fourth quarter fiscal 2020 revenue of $206.7 million compared to revenue of $207.1 million for the same period of fiscal 2019. For fiscal year 2020, total revenue was $840.9 million, up 9% compared to revenue of $769.4 million, and operating income was $249.2 million, up 10.9% compared to operating income of $224.8 million in fiscal year 2019.

 

Recent financial and operating highlights include:

 

Worldwide Impella® heart pump revenue for the quarter totaled $197.4 million, a decrease of 1% compared to revenue of $199.5 million during the same period of the prior fiscal year. Worldwide Impella heart pump revenue was impacted by lower patient utilization due to the negative impact of two misleading publications in print within the quarter, primarily in US and Germany. The Company was beginning to see positive momentum in March based on our actions to educate the medical community on Impella FDA studies and new publications. In the second half of March, the COVID-19 pandemic drastically impacted patient utilization. Within the quarter, the company estimates COVID-19 had approximately a $17 million negative impact on revenue. Full year worldwide Impella heart pump revenue totaled $806.8 million for fiscal 2020, an increase of 9% compared to revenue of $741.7 million for the prior fiscal year.

 

U.S. Impella product revenue for the quarter totaled $164.0 million, a decrease of 3% compared to revenue of $169.7 million during the same period of the prior fiscal year with U.S. patient usage of the Impella heart pumps down 5% due primarily to the impact of COVID-19. Within the quarter, the company estimates COVID-19 had approximately a $15 million negative impact on U.S. Impella product revenue. Full year U.S. Impella revenue totaled $674.4 million, up 5% compared to $639.3 million in the prior fiscal year with U.S. patient usage of the Impella heart pumps up 6%.

 

Outside the U.S., Impella product revenue for the quarter totaled $33.4 million, an increase of 12% compared to revenue of $29.8 million during the same period of the prior fiscal year. Outside the U.S. revenue, specifically Europe, was negatively impacted by COVID-19 in the quarter. Full year Impella product revenue outside the U.S. totaled $132.4 million, an increase of 29% compared to $102.4 million in the prior fiscal year. Specifically, Japan revenue was $8.4 million for the quarter and $35.2 million for the year, up 55% and 101%, respectively, compared to prior fiscal year.

 

Gross margin for the fourth quarter of fiscal 2020 was 80.9% compared to 83.2% during the same period of fiscal 2019. For the full fiscal year 2020, gross margin was 82.0% compared to 83.2% in fiscal year 2019.

 

Operating income for the fourth quarter fiscal 2020 was $58.1 million, or 28.1% operating margin, compared to $65.4 million, or 31.6% operating margin in the same period of fiscal 2019. For the full fiscal year 2020, operating income was $249.2 million, or 29.6% of revenue, compared to $224.8 million, or 29.2% of revenue in the prior fiscal year.

 

Fourth quarter fiscal 2020 GAAP net income was $31.8 million, or $0.70 per diluted share, which includes a $13.6 million, or $0.30 per diluted share, unrealized loss on our investment in Shockwave. This compared to GAAP net income of $74.0 million or $1.60 per diluted share for the prior fiscal year, which benefited from a $23.6 million, or $0.51 per share, unrealized gain on our investment in Shockwave.


The following information was filed by Abiomed Inc (ABMD) on Thursday, April 30, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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