Cardiovascular Systems Income Statement 2022-2009 | CSII

Brief overview of revenue and earnings at Cardiovascular Systems

The comparison covers a five-year financial horizon. The revenue attributed to Cardiovascular Systems moved from $52.6 million to $236 million between the two endpoints. The cumulative result was +348.9%, corresponding to roughly 35% per year. Sales grew at a rate typical of a strong expansion phase.

At the gross-profit level, the result moved from 43.1 million dollars to 173 million dollars, a change of +300.6%. Direct costs grew more slowly than revenue and improved the economics of sales. At the margin level, the figure shifted from 82% to 73.1%. Weakening gross profitability reduces the quality of the top-line trend.

EBITDA was $2.4 million at the beginning and −$32.1 million at the end of the period (−1452.4%). Changes in revenue did not translate into comparable EBITDA performance. Comparing the endpoints gives EBITDA margins of 4.5% and −13.6%. Operating return per unit of revenue declined.

The final result was −$413 thousand initially and −$36.9 million in the final year. The period ended with a larger loss than it began with.

The market value of the business moved from $770 million to $602 million, or −21.8%. Financial performance is stronger than the share-price trend.

Summary assessment

The current trajectory does not yet confirm a sustainable recovery. The constructive conclusion rests on a larger revenue base. The weaker side of the profile includes weaker operating efficiency, declining capitalization and pressure from direct costs. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.