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Cardiovascular Systems (CSII)

Cardiovascular Systems, Inc., based in St. Paul, Minn., is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease. The company's orbital atherectomy system treats calcified and fibrotic plaque in arterial vessels throughout the leg and heart and addresses many of the limitations associated with existing surgical, catheter and pharmacological treatment alternatives.

Company profile

CSII stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

18 Aug 22
4 Oct 22
30 Jun 23
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
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Cash on hand
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Diluted EPS
Annual (USD) Jun 22 Jun 21 Jun 20 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
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Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 66.42M 66.42M 66.42M 66.42M 66.42M 66.42M
Cash burn (monthly) 176.33K 387.17K 3.21M 3.06M 3.28M 2.02M
Cash used (since last report) 554.9K 1.22M 10.11M 9.62M 10.31M 6.37M
Cash remaining 65.87M 65.21M 56.31M 56.81M 56.11M 60.06M
Runway (months of cash) 373.5 168.4 17.5 18.6 17.1 29.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Aug 22 Sandra Sedo Common Stock Sale back to company Dispose D No No 0 9,873 0 110,558
18 Aug 22 Alexander Rosenstein Common Stock Sale back to company Dispose D No No 0 10,955 0 144,580
18 Aug 22 Jeffrey S. Points Common Stock Sale back to company Dispose D No No 0 12,752 0 168,915
18 Aug 22 Scott R. Ward Common Stock Sale back to company Dispose D No No 0 77,028 0 807,438
18 Aug 22 Stephen J. Rempe Common Stock Sale back to company Dispose D No No 0 6,175 0 79,401
13F holders Current Prev Q Change
Total holders 157 174 -9.8%
Opened positions 17 34 -50.0%
Closed positions 34 26 +30.8%
Increased positions 53 64 -17.2%
Reduced positions 59 56 +5.4%
13F shares Current Prev Q Change
Total value 533.43M 830.59M -35.8%
Total shares 37.14M 36.81M +0.9%
Total puts 10.6K 0 NEW
Total calls 0 77.5K EXIT
Total put/call ratio Infinity
Largest owners Shares Value Change
BLK Blackrock 7.32M $105.05M +3.2%
Brown Capital Management 5.62M $80.75M -3.1%
Vanguard 2.69M $38.58M +3.7%
Champlain Investment Partners 2.46M $35.37M -29.4%
STT State Street 1.68M $24.15M -2.3%
Renaissance Technologies 941.96K $13.53M +10.4%
Camber Capital Management 940.4K $13.5M NEW
Assenagon Asset Management 859.07K $12.34M +116.3%
FHI Federated Hermes 827.93K $11.89M +593.8%
ATAC Neuberger Berman 806.73K $11.6M +0.0%
Largest transactions Shares Bought/sold Change
Champlain Investment Partners 2.46M -1.02M -29.4%
Camber Capital Management 940.4K +940.4K NEW
FHI Federated Hermes 827.93K +708.6K +593.8%
Citadel Advisors 397.8K -573.35K -59.0%
Grandeur Peak Global Advisors 30.37K -531.17K -94.6%
Assenagon Asset Management 859.07K +461.93K +116.3%
Balyasny Asset Management 702.65K +392.04K +126.2%
Millennium Management 144.78K -312.63K -68.3%
Parametric Portfolio Associates 0 -301.07K EXIT
Cubist Systematic Strategies 318.51K +271.65K +579.7%

Financial report summary

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Management Discussion
  • Net Revenues.    Net revenues decreased by $22.8 million, or 8.8%, from $259.0 million for the year ended June 30, 2021 to $236.2 million for the year ended June 30, 2022. U.S. peripheral revenues decreased $21.3 million, or 12.0%, and U.S. coronary revenues decreased $6.5 million, or 9.2%. Both therapies were adversely affected by the impact of the Delta and Omicron variants of the SARS-CoV-2 virus, especially within the hospital setting. Contributing factors to the decreased case volumes from the Delta and Omicron variants were disruptions of referral patterns, deferrals of elective procedures, staffing shortages and heightened summer seasonality in the quarter ended September 30, 2021. Our revenues have also been adversely affected by an increasingly competitive environment and reimbursement pressures in the office-based lab setting, as well as shortages of contrast dye experienced by some customers in the quarter ended June 30, 2022, which limited their ability to perform procedures using our products. Increased revenue from new product launches and increased customer adoption of interventional support products partially offset the revenue declines from decreased peripheral and coronary case volumes. International revenue was $16.4 million for the year ended June 30, 2022, compared with international revenue of $11.3 million for the year ended June 30, 2021. Although international sales were also impacted by the ongoing COVID-19 pandemic, increases in international sales were driven by Coronary OAS sales in Europe, a stronger recovery in Japan, and the commencement of sales into other territories.

Content analysis

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H.S. sophomore Avg
New words: affirmed, agent, annuity, begun, breakage, Canada, confirming, consumption, contrast, cybersecurity, developmental, dye, EO, FIH, filling, freight, hardware, Innova, intravascular, Jain, joint, Latin, learning, lifespan, lithotripsy, Max, MDSAP, moved, Omicron, output, payer, plant, PRECISION, PRECSION, propel, PROPELTM, ransomware, realigned, rebate, resumption, retrieval, revised, run, Sachin, sanction, Scoreflex, scoring, SHEPHERD, signatory, stronger, summer, thrombectomy, translumenal, wave
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Patents

Utility
Rotational systems comprising a polymer driveshaft
6 Sep 22
Various embodiments of devices and systems comprising a polymer driveshaft for use in high-speed rotational medical procedures, e.g., atherectomy, are disclosed.
Utility
Atherectomy System Current Sensing, Processing and Display
25 Aug 22
The present invention comprises at least sensing, monitoring, and display of motor current which is then used in various embodiments of a rotational atherectomy device to determine and/or predict, among other things, treatment progression, treatment completion, optimal rotational speed, optimal advancement or traversal speed during treatment, whether stall appears imminent, and/or reacting to stop motor rotation before a stall occurs.
Utility
Drive Shaft Design, Conditioning and Stabilization Methods for Rotational Medical Devices
11 Aug 22
A flexible drive shaft assembly is provided for an intravascular medical device, for example and without limitation, a blood pump, a rotational atherectomy device, or a rotational thrombectomy device.
Utility
System, device, and method for interrupted dual action (sanding and cutting) forces with continual maceration and aspiration
9 Aug 22
A rotational atherectomy device includes a drive shaft, a cutter mechanism coupled to the drive shaft and configured to cut occlusive material from a lesion, and a multi-stage macerator coupled to the drive shaft and configured to macerate cut occlusive material into a fine slurry.
Utility
Devices, systems and methods for enhancing intraluminal drug delivery and uptake
31 May 22
The present disclosure generally relates to methods, devices and systems relating to applying drugs or therapeutic agents to biological conduits, e.g., vascular lumens.