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ABIOMED INC

abiomed.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Nov 3, 2022. Its latest SEC filing is a SC 13G/A from Jan 6, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Sold heart pumps and related devices that supported circulation and oxygenation for patients treated by interventional cardiologists and cardiac surgeons in hospitals.

How Did They Make Money?

Hospitals and distributors paid for heart pumps and accessories when shipment or delivery terms were met. Customers also paid for maintenance contracts over their term and for maintenance calls when the service was provided.

FY2022 revenue

Who Were Their Customers?

Sold products mainly to hospitals and distributors. Sales went through a direct sales force in the U.S. and Germany, and through direct sales and distribution agreements in other international markets.

Did Revenues Turn Into Profits?

Yes. It kept 13 cents of every revenue dollar as net income in FY2022 and turned 24 cents into free cash flow.

Operating income, FY2022
14% of revenue
▼ −39% vs FY2021 ($229.6M, 27%)
Net income, FY2022
13% of revenue
▼ −39% vs FY2021 ($225.5M, 27%)
Free cash flow, FY2022
24% of revenue
▲ +13% vs FY2021 ($221.2M, 26%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q2 FY2023, the three months to Sep 30, 2022
Revenue
▲ +7%
vs $248.1M in Q2 FY2022
Net income
▲ +86%
vs $57M in Q2 FY2022
  • Dec 22, 2022 Johnson & Johnson completed its acquisition of Abiomed. Abiomed became a wholly owned subsidiary of Johnson & Johnson after the merger.

Grew. Revenue grew 74% in 4 years, from $593.7M in FY2018 to $1B in FY2022, about 15% a year.

Who Did They Compete With?

Competes with Cardiovascular Systems, Abbott Laboratories, Medtronic, Edwards Lifesciences, Boston Scientific, LivaNova, Terumo Heart, Teleflex, and Getinge

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