Axonics Increases 11% As Q4 Prel. Revenue Better Than View

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Shares of Axonics, Inc. (AXNX) are rising more than 11% Wednesday morning after reporting preliminary fourth-quarter revenue, better than analysts’ view.

The company expects revenue in the fourth quarter to be in the range of $85.6 million- $86 million, an increase of 61% from last year. On average, 8 analysts polled by Thomson-Reuters expect the company to report revenue of $74.3 million.

Looking forward, Axonics expects full-year 2023 revenue to be about $342 million. The consensus estimate stands at $327.2 million.

AXNX is at $62.17 currently. It has traded in the range of $38.41-$79.92 in the last 1 year., 8 analysts polled by Thomson-Reuters expect the company to report revenue of $74.3 million.

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