Shockwave Medical, Inc.

Good afternoon and welcome to the Shockwave's fourth quarter and year-end 2021 earnings conference call. At this time, all participants are in a listen-only mode. We will be facilitating a question-and-answer session towards the end of today's call. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Debbie Castor, Vice President of Investor Relations at Shockwave, for a few introductory comments.

Thank you all for participating in today's call. Joining me today from Shockwave Medical are Doug Gottschall, President and Chief Executive Officer, Isaac Zacharias, Chief Commercial Officer, and Dan Puckett, Chief Financial Officer. Earlier today, Shockwave released financial results for the quarter and year ended December 31st, 2021. A copy of the press release is available on Shockwave's website. Before we begin, I would like to remind you that management will make statements during this call that include forward-looking statements within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to the expectations or predictions of future events, results, or performance are forward-looking statements. All forward-looking statements, including without limitation statements relating to our sales and operating trends, business and hiring prospects, financial and revenue expectations, and future product development and approvals are based upon our current estimates of various assumptions. These statements involve material risks and uncertainties, including the impact of the COVID-19 pandemic that could cause actual results or events to material differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place any undue reliance on these statements. The list and description of the risks and uncertainties associated with our business, please refer to the risk factor section of our annual report on Form 10-K on file with the SEC and available on EDGAR and in our other reports filed periodically with SEC. Shockwave disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast today, February 17, 2022. And with that, I'll turn the call over to Doug.

Thanks, Debbie. Good afternoon, everyone, and thank you for taking the time to join us to review Shockwave's results for the fourth quarter and full year of 2021. The past year has been full of ups and downs for all of us, but the Shockwave team has persisted through the many challenges as we continue to pursue our mission to improve outcomes for patients with calcified vascular disease. We achieved quarterly revenue of $84.2 million in the fourth quarter of 2021, which was 271% above the fourth quarter of 2020, and annual revenue of $237.1 million in 2021, an increase of 250% above the full year 2020. Our strong global growth confirms how significant the clinical need has been for a better calcium treatment and how well our team is hitting the mark with IVL. Despite the ongoing impact of COVID as Delta transitioned into Omicron, our business and our team continued to outperform our expectations. Isaac will touch on more specifics in a moment, but at a high level, while Coronary led the quarter once again, we also saw a nice uptick from the third quarter in both our international business and our US peripheral franchises. 2022 is shaping up to be another strong year for the company with three main drivers, continued coronary growth as we add new accounts and better penetrate existing accounts, accelerated peripheral growth due to the combination of the upcoming launch of our M5 Plus catheter and the improved peripheral reimbursement for our above-the-knee codes, and continued strengthening of our international business, led by a full year's benefit of the transition from distributor to direct sales in France and the U.K., While Omicron will be a downdraft on the first quarter for Shockwave and most of MedTech, we have high hopes for the post-first quarter recovery. And as a result, we expect our full year 2022 revenue to fall in the range of $405 to $425 million, representing growth of 71% to 79% from 2021. To provide more color on the commercial front, I will now turn the call over to Isaac. Then Dan and I will share more detail on the broader business and financial results.