SUNNYVALE, Calif. (AP) — Silk Road Medical Inc. (SILK) on Tuesday reported a loss of $10.7 million in its first quarter.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of 31 cents.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.
The medical device maker posted revenue of $22.1 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $21.4 million.
Silk Road Medical expects full-year revenue in the range of $103 million to $108 million.
Silk Road Medical shares have declined 2.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $61.39, a rise of 43% in the last 12 months.