SILK - Earnings call transcript Q1 2019

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Operator

Good day, ladies and gentlemen, and welcome to Silk Road Medical's 2019 First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to introduce your host for today's call, Ms. Lynn Lewis with Investor Relations. Ms. begin. may you Lewis,

Lynn Lewis

you participating Thank today's all you. in for call. Thank

financial Executive are today Lucas released the quarter press Erica the copy me available website. XXXX. Officer, March Silk for XX, ended Rogers, Medical release Earlier Joining of Officer. Chief and A the Financial Buchanan, Road on is results Company's Chief

which growth guidance and for future XXXX trends expectations hiring, our includes are laws forward-looking our those of and management Any which forward-looking of based to revenue the for relate market training, physician are operating reimbursement, during and this statements future margin Before upon I'd we operating of gross financial expenses and estimates Act and make in organization our opportunity of Reform expectations, current in and to materially Litigation various implied from undue pursuant like our begin made involve call the predictions results assumptions. and meaning that are this events, contained statements. to to that risks that All those Securities cause these statements. should statements examination on include These reliance actual statements. events or the anticipated will expectations material of relating could federal provisions the or remind or securities Accordingly, you that XXXX. Harbor within limitation, call forward-looking statements Safe forward-looking performance by in results place statements these or uncertainties you statements to without differ including, Private not

Exchange that on or conference forward-looking is public our live Section accurate Erica revise the and disclaims because refer by statements connection in and business, required and intention April to projections the Risk over information time a X, update XXB any call uncertainties events initial information, Factors obligation, I'll Commission law, with description and future XXXX or list to turn X, Medical sensitive Rogers, XXXX. associated please Road risks with or as This of any the the filing new today, Silk only except Securities for financial offering. contains our For broadcast May call the of And CEO. with of or with as whether otherwise. to

Erica Rogers

Thank you our afternoon, pleased results. Silk to I everyone, XXXX and to Good you, joining first call Road us. quarter review Lynn. you for first thank welcome earnings am Medical's to

outcomes, $XXX the in call Everything As many on the know, to of completed we focus success. is every express million we designed for net the in participated US a building One the the our patient you key execution. our two I like successful brain. day. on overarching protect my and is at to proceeds. investors At will public Silk clinical approximately goal who and On April offering. Silk patient is further two focus commercial do this evidence important base, we year priorities every Road our TCAR one all to relentless initial to gratitude we which offering to Road would raising in sincere is theme, have

portfolio This away a be of are disease the alternatives carotid current As period provide first will from conditions of narrowing over and to mortality wall, of the asymptomatic as treatment then on place. the products, profile stroke our call blood stroke. Buchanan, minutes update is also first the risk. will and novel stroke call We neck avoid morbidity stroke for major Financial in the the to way up provide our travel not, results buildup the open for long-term has our called TCAR this clinically or is also in supply prevent plaque and catastrophic, reduction wrap an a and to front then public detail can flow one protect upfront artery and Road first on new of disease to a a of that carotid best they're of provides overview the debilitating dedicated and is turn have the Officer, to Silk device financial treatment Stroke the carotid Chief is invasive rate to Using we pioneered then costly approach arteries until I'll our stage worldwide. and it break we risk morbidity procedure a the the use brain one to of cause reducing medical next our Road symptom causes more causing its neck, direct TCAR questions. a and accomplishments. call the At provide to high stroke. and brain. Revascularization, blood devastating the in to of impact. believe the reduction demonstrated Lucas plaque Medical we'll commercial first our of in flow the TransCarotid during the compared the when I business concepts: Silk and company, towards TCAR. of a the stroke an of Patients reversal artery disease and progression the arterial quarter two artery often most Carotid mortality company importantly, in Artery directly meaning relies access could and, stroke of during minimally leading the is is brain. on the the few

what we've procedures become States XXX,XXX With billion we use the minimally than new the standard portfolio of of we in company TCAR approvals, journey. that Medicare potential to to a more on is XXXX, this engineered artery in Based category. We been for But exists estimate approximately carotid market TCAR just disease exciting an the market $X.X has coverage United in only our multibillion-dollar products products. in approach of diagnoses US in TCAR are of reimbursement specific care first beginning endovascular the We secure XXXX, believe Since entirely the opportunity is invasive we're performed. indicated XX,XXX and an at commercialize the obtain have and this TCAR. estimated established opportunity. of FDA annual and for introduced

currently existing option approximately minimally are revascularization carotid treated called procedures converting also focused surgery included in US invasive We of X% XXXX. endarterectomy, CEA, with carotid procedures. -- These those to procedures TCAR. the performed X% XXX,XXX in of than predominately were TCAR invasive the but carotid on TCAR approximately X,XXX of open or This There an to are diagnosed. penetration over less translates patients and X,XXX revascularization

We've standard open to due a last artery aim challenges this conversion the this years the brain. endo the to solve to is and, for to last surgery opportunity invasive over and of have sensitivity become the a disease. patients an toughest to market. frontier shift open classic technology now, from of hundreds care thousands Our the been procedure. There the represent risk XX-plus one and until with the lot to is penetrate endovascular in carotids treat We catheter-based minimally of seen stroke of from of opportunity carotid us of front at endovascular of

revenue quarter compared to of $XX.X the performance; XXX% up financial first our XXXX. first was to the quarter XXXX approximately of Turning for million,

million representing we year $XX expect to full over of million be XX% of $XX growth the the revenue in range revenue. XX% full-year For to to XXXX

in building United to from driven to States, base; and clinical one, commercial to will is on US continue training from increased execution. Paramount focus decision education sales relentless success product physician Looking case the ahead to we between. pervades adoption clinical key focus in we our our we everything patient come quality This TCAR commercial support priorities: to and by two do evidence the outcomes. everything two, growth every make expansion and expect to

a to patients, the around Silk payers TCAR to evidence our addition, efforts clinical In and company Medical support always Road has with providers. building dedicated been

offers the open-ended present It to ongoing mount effectiveness than XXXX will expected our by in stroke States session reviewed on ROADSTER in we par National We the are significantly TCAR pain, designed for allows enrollment Meeting, Europe physicians over produce TCAR and studies safety physicians was or reducing post-market patients new the meeting during recently regarding the recently that and in several clinical the study implemented has accepted patient expect The TCAR is in continue a late We XX. Society in been safety annual CEA seen publications outcomes and alternative contemporaneously Mahmoud in Surgeries with than cranial while provide large associated results the and Surveillance and the the in outcomes CEA. initiative TCAR evidence base TCAR CAS, hospital. and already in researchers reduction Surveillance is during TCAR been rooted as of abstract have they section. of plenary also the including been organization. data invasive and announce reduction Dr. an have and query monitor the Vascular risk present conferences more of better in June and registries adoption will evaluate compromising of United Project artery post-market approval our to Project. to of evidence. Project September effectiveness minimally XXX at complications and risk of TCAR time recovery by to in stenting, that it The Thursday, carotid stroke or have of part the pleased may by driven on submitted collection review Surveillance Harbor, am we to multiple XXXX peer breaking the Society TCAR. database real-world presentations TCAR the in of Surgery driven ENROUTE procedure. in evidence stent a was clinical extended TCAR clinical Malas the and and X, date. are patients. has physician to effort VAM, an transdermal demonstrated a data the injury, I that that trials clinical CEA We've to Vascular The An a scarring, X,XXX that compare using that journals, TCAR in with that risk Maryland for in use Annual for believe Overtime, medical the nerve advantages would papers confidence CEA presentation trials, studies in evaluated to clinical stay procedures vascular learned Vascular completed in of without firmly safety, regarding in abstract to belief academic stroke patients length

by rooted base. the driven physician will are belief on build confidence evidence the we in adoption and strong that firmly are clinical evidence existing and We to continue

is second performing and where hospitals hospitals the repeat TCAR all perform procedures. about market that estimate the TCAR the Turning that -- appropriate and priority structure physicians generate of and to to performed. set about products this of physicians orders of is key procedure is XX% execution of such X,XXX in adoption our carotid there revascularization XXX base driving our TCAR. commercial initial is of hospitals learn has of the believe procedures. concentrated concentrated group a to and We perform approximately the skill physicians The We

pattern; a driving peer-to-peer subscribed basis. learning and the we adopt are them highly referral been opinion have fully TCAR Drive of physicians education physicians of them We TEST to courses. conduct This TCAR and and interaction result, TEST led to the courses have don't simulation and regarded our believe courses are confidence TCAR. leaders CEA. for regular education establishing with in These we during we change a training significant key Drive the TEST simply by from allowing as and for need flagship have convert TCAR So curve these outcomes a to and a inception train key initiatives successful starts professional faculty the on on stands differentiator since influence.

model. Given the can procedure efficient volume, coverage commercial we the of concentration an leverage

is more ended and, portfolio Over continue accounts have build therapy a We XXXX years building out the team selectively covering physicians. to together Area and we've the and therapy clinically territory development support and of they planning, or comprised ended and by approximately specialists. support the managers sales XX XXX procedure specialists, trained the We with products with years for methodically team and manager XX area team Each carefully managers last this one XXX territories world-class are plans supported rolled XX been patient support will commercial and with pre-procedure XXXX active carefully area development TCAR for use one as of care. hospital couple we of in ahead. development a also specialists post-procedure our and therapy business of responsible provide proper developing consultative selection, out training of territory TCAR.

quarter physicians overarching XXX while they expanded believe the of market tailwinds first to In artery the supported disease. team outcomes. return are team XXXX of we and in focus build focused closing and Lucas new now some a goal will of proud help on Officer, I turn With evidence incredibly are the procedures year. continue We train run we execution world-class in with only In clinical call by approximately territories In the come Financial driving while Buchanan, we for roughly our adoption over team, successful and commercial We hospital continued methodical exclusively territories will courses. plan then and on of TEST the that patient TCAR our dedicated the exceeding continuing Chief to accounts comments. carotid the will we commercial expect growth commercial Drive from the expand summary, X,XXX procedures over to and active we period. our to X,XXX XX achieved to XXXX towards

Lucas Buchanan

the XXXX expenses months million of expenses and as you, for $XX.X the revenues. quarter of of million, the driven corresponding infrastructure Total the quarter for from Growth quarter XXXX first same compared expenses we quarter administrative to costs for the quarter spread the expenses in of included adoption million, year. and clinical share, as first loss as programs. XXX% base of physicians to the was XXXX in per the net fixed same trained to across million, a compared XXXX. re-measurement period the well general from $XX.X and period. as $X.X the The attributable to first the increase Gross loss quarter XXXX. $XX.XX were metric prior R&D continue XX, to XXXX first our higher public a period Sales, a staff benefit team, of efficiencies of the was to our compared general growth sheet for warrant first building XX% $XX.X of year. liability value prior Net was related accounts, operations increase the commercial by of margin $X.X our in million date. increase territories. of $X.X respectively and March support development of noncash and sales as charge was million Thank expanding as XX% stock a the each prior-year overhead Gross at driven loss a and first $X.X operating from $X.X we for or $X.XX million was preferred out compared the $XX.X increase of quarter XXXX. as increase primarily or continued the we fair This Erica. million, XXXX continue million expenses of noncash for of resulting a first margin quarter personnel-related an TCAR a XXXX administrative for balance an convertible to expand the manage were million per as period of XX% across three the in for active share an to support $X.X company. from first personnel-related was product million study and attributable improvement by million expenses ended loss in growing of as we $XX.X operational to hospital in were of was The Revenue increase primarily of $X.X XXXX

million stock with We ended warrants value our first estimated April and in equivalents. continue to XXXX convertible fair of cash until with $XX.X We record exercised XXXX. IPO adjustments cash quarter the connection of to the the were of in preferred they

April in $XXX proceeds million. which to complete As initial of net generated Erica public pleased mentioned, offering early approximately our we were

and first benefiting increase a full in million in range remainder throughout XXXX, XXXX from long-term revenue full-year XX% manufacturing XX% spending expect operational the we representing expect year $XX $XX support be year of the efficiency strong XXXX for revenue. gross the capacity initiatives to and After Turning to to to goals. growth our to we margin of the of quarter, in million outlook to over

We near operational and in both performance metrics nature. and several are key initiatives, long-term measuring success through our and

revenue for XXX excellence. point our want care. of long-term our the pace commercial out expansion, territories, believe in XXXX. and procedures set in that physician on this commercial the path operational achieve an have roughly focus to to outcomes best we which our X,XXX and team physicians, we towards to activation execute in training, business, excess levers be of dictated mind focus to objectives new earlier, key These train patient the outlined and XX Erica goal put by include will approximately of in key expand we XXXX With As coverage objective account our standard always drive this growth. will We additional of on us do

cadence forward our the commentary would At on comments. to monitoring business We these as are to like levers Erica We look such. I constantly turn progresses. of objectives the and for the closing back stated providing call our as point year to this

Erica Rogers

Thank Lucas. you,

we big for we of wide-open Silk are at just Road the this vision Medical is believe Our and beginning opportunity.

Our through leader we've strong the carotid of global here a focus relentless artery so at outcomes. mission to is in assembled the treatment Silk the for Road. on I team am disease grateful patient be

path is progress I passion. of we and collaborative feel a work to very privileged growth this and truly alongside to innovation. their continue dedication team And testament as down Our a

innovation to reduce of who the are carry our providing grateful We means Medical burden commitment devastating its Silk are the on to share mission also for medical to to our newest and Road investors stroke.

to Before May stroke moment acknowledge closing, would is awareness to month. that a like I take

part And stroke. up with this our technology hospital We awareness. changed that the updating it the look whose drives a to have open to forward and families us lives you patients increase to business. countless physician And with, reminded on and We will Operator? through working our of be partners to solution devastating we by of are and forever been questions. now

Operator

Robbie first JPMorgan. with Our Instructions] Marcus from comes [Operator question

Unidentified Analyst

on any Christian the Good around insight of TCAR? any on inflection first interest in public quarter speaks physician but actually Robbie. public us of the the the late? out give can you on marketplace itself, respect you're for [ph] is as Have perception for Obviously to growth Thanks. the in trends with gate. This afternoon. Congrats that seeing you seen

Erica Rogers

footprint of will momentum the and in as the terms momentum the Certainly to the coming that of we increase TCAR. the expands there on expands. business and to believe out we vascular in on serve meeting perception certainly continue be some tailwinds well commercial annual obviously around June that Yes, marketplace, momentum of that as will awareness build

Unidentified Analyst

on And have clinical be around FDA you your standard you just about should for related then we the maybe a any indication? as investors for question thinking guys? to with pathway here. How opportunity to the touch wanted Do updates discussions risk the forward

Erica Rogers

question. that I sure. fully appreciate Yes, can

I front And let is that me market indicated two-thirds think the immediate and covered risk point just first of of population. again that represents the and as high us, you know. right patient out surgical in

really going question we're surgical opportunity. So that standard after ourselves That consider understand risk immediately. risk. we just around beginning opportunity we And into that the penetration of is the high market large very the that said, at

around we we look will have into soon certainly that. We continue to as to as you. that definitive bring that some And clarity

Unidentified Analyst

out many looks It sales Can how training you physicians you're SG&A you territories thinking this procedures get add territories, color Thank quantitative over to the then building some like quarter. year. quarter you how in year physicians on from XX to X,XXX good that new to about to you any and build order continued of pretty many you. the And reps goal how of to the have your on last about the year? gave course one give significantly me, color in XXX the reps new and and expect added in

Lucas Buchanan

physician line this sure continue training and we in is productivity. expect form is Lucas. way the the the and for programs. the Christian, really Thanks sales of in year to business for throughout both at We look Yes, around the physician The invest people and marketing question. do to

and of basis Erica expanding of Drive denominator those consistently we curve. these a And of courses through run busy regular And that. significant and trained doing As obviously kind so got that's footprint TEST we've a experience physicians there's are them on commercial are time spent we the once lot trained mentioned, learning physicians. helping a the pretty curve

all time or add decision in at to have volume. territory of add pursuit in procedure some support cases so, And in we a more given an to point any we territory a driving the new existing

it's territories. adding solely sales predicated So not on

So may the specific linear. account. we deviate will add the in But we territory necessarily have not plan, And it parts year, it past, to regional existing physicians train that ahead very sales either place very plan or in opportunistically other sense we existing may country in we the from more where throughout specific a plan, find in given dynamics have as an territory is have wait an and or of a we hospital until of the person. best make

reps so, is we add physician sales how the when us as to to cadence. the And important around less training specificity

Operator

Our Hopkins next Bob comes America. from of Bank with question

Bob Hopkins

and guys tremendous just a went a of new amount. you information so but there's here not bit little Obviously public,

in have much procedures from a quarter first coming give does right doing us quarter seeing of ones. from So where could coming for how I here growth just were you the been previously the primarily. docs previously wondering, just sense two look to sense is just now compared at they've doctors? have results, to of than trained we a was that the is that doing trying quarters? last What Just like get new more I as couple the versus now adding growth you're your quick first that company the

Erica Rogers

Sure, background that then bit over of and little a give will turn it I question. you Lucas. happy to take to

coming cases both. new terms a it of from mix adding of to existing continues So, be procedures physicians physicians, in versus or

from important But of on clinical that as know We certainly pace their to curve. also the tailwinds continue additional comes well to focus that the adoption amassing new on and moving procedural evidence. on board. experience physicians in We growth board is adoption early and on hospitals bringing hands their new physicians up

can you to course Once things. a same work As which are through it open, you only an those procedural of certainly analysis through going like but committee hospital. that the imagine, steps other have to existing once all train surgeons medical hurdles typical past not the efficient value surgeon's requires hospital and in base device is you additional

as of the So sort figure And at levers this role of at of lots Lucas of earlier, alluded to different the job pull. procedures. and is to levers out getting to which the those area manager

Bob Hopkins

-- just… I'm any Lucas,

Lucas Buchanan

Yes, little I add that. I a can can add little -- a to

Bob Hopkins

there. [Indiscernible] here, Like trying metric more a if I growth. if you driving get changing? the just it's curious there worth out I'm sales is for a really but sense to is same-store will. it trend calling know both, I'm

Lucas Buchanan

XXXX the in of physicians our half lot overall XXXX. we our trained first physicians in more in physicians, second if we more so did a in XXXX. did reflective eight Yes, trained of we XXXX We portfolio was quarters. first the we of previous quarter And the a than very than trained at of lot look half

very continues smaller continued business our by of from folks curve. the their existing trained add in And denominator and -- the large as get that So to we their to base in adoption folks weighted overall trend and physician that and average smaller is early quarter. versus first new ratio

to quickly orders. So repeat most of is getting business really our

Bob Hopkins

-- ask either Erica still step or first process? question, that you you're consider your there. the to standard when and of first for revenue risk, for the approval the I I only this And is wanted work risk? size opportunity to do relative I'd in ask that point is happen to risk topic is, the thing hear last agencies the that question for, base there's interesting. What's up to and has huge of opening doing Lucas doing And what it's lot standard the this have a you're to standard a opportunity to only But of on the on the that

Erica Rogers

appreciate I Yes, can question, Bob. that

is patients say in endarterectomy, I pure to carotid at risk. stent high for at is looking it standpoint, from another surgical regulatory think from terms for way itself or complications just of the risk a labeled that

So label in the it's risk is system, the stent device the really flagship procedure, about. is neural other The we're which agnostic. that protection talking

on So, the it course, a ask conversations is what will a formal with to side, get the best understand to of formal where And way starts answer stent the specifically be to that's is really question. FDA required.

so, that's formulating And we're in what right of the process now.

Operator

question next Wise Rick from with Our Stifel. comes

Rick Wise

with me start Let a couple things.

some it adoption. incremental data what the not data impact growth here? something hope? Erica, of as we to data the just broad in -- the ROADSTER just part accelerate body do excellent And it's and that that is linger enrollment. the could driving Is just you you're of about First accumulating? assuming training terms the all, of answer if that you tide it's of finishing congratulations indicated, adds on help going to moving questions in Or no, right the that's direction How think this the adoption much would -- X so a so, here sense actually in evidence

Erica Rogers

thank Rick, you all, joining much of your question you today. Really great the us on I first to have actually. appreciate for really Well, so line.

physicians We X. part about of as this adding are But it excited that obviously completion a existing of X good you only for this first the is your regulatory evidence new about -- This were and the FDA. there, major to to evidence. because and about X ROADSTER ROADSTER of is for of body the Rick, the special compared a really really more Company multicenter formerly we body users. stated at is obligation is the is remark a a in fulfills not to milestone mandated example. to I go study, In And ROADSTER think hospitals is than what

and procedure like what And world to answer we real we a hands the the this when brand-new aimed really in So of put question you really that it in of sense here. is got the users. that was

of these endpoint some what but over and mining I to think at time course, beyond look will mining hospitals. physicians provide it is so, multiple over primary the multiple data procedures And some data just

excited So, we a it; milestone. it big very about are is you. Thank

Lucas Buchanan

finished ongoing. studying activities. There's I the the monitoring want completion clarify to just and still follow-up that enrollment; is

Rick Wise

for keeping Thanks me honest Lucas. there,

As about thinking whether I'm I you sort are things me. played to they And I guiding quickly that's sense get were was your how docs did surprised physicians not getting quarter. do TCAR at demand, interested surprised out embedded survey -- second, docs you surprised interested how the training. continued was see the frankly. how a are of for and but procedures surprised wondering how And wondering quarter in know, was just really, after of I have couple and wondering better ramping I to they the the meet the TCAR how in and noncurrent ability to a how see the -- their thinking trying in trained was a excited first about that and to year.

Erica Rogers

Sure, let order. me take those in reverse

fairly case have in TCAR physicians Because one-off program necessarily their real TCAR to the hand part in to is program. there, to a entry So the We're looking some we who air a to trained. hospitals. not in short the be yes, puts they really barriers what of to do that and the and And demand. says meet a physician ultimately put build answer robust the have is we want driving for is of a we're front here their but ability dedication

more question, have de-identified not H&P them And some TEST sort Drive at TEST whom would part that is our of that the the to the asked and where peer. a all have require TCAR cases we We their images program in training hospital be analysis believe but leads already first are those Drive those checked level, in group and to answer identified of importantly value they which be only in among patients the atmosphere pros reviewed boxes to bring appropriate. debated peer so, programs. physicians to and are the cons and your of to through of training committee to substantially cases the are that those And

few TEST a a of physicians we to And is their to faster can up the Drive out overall Drive this so, TCAR coming faster and a be. in of commitment get adoption accelerated cases build one And the the that end will why do front thing know is part we see commitment the first that is returning. program because surgeon out upon their cases adoption TEST of you have coming on we

answers hopefully that So your question.

Operator

Our next Markets. from question with Capital comes [ph] BMO Wush Joanne

Unidentified Analyst

first conference traded publicly call. your to welcome Two questions. Well,

how do first the can see Gross you ramping The looking XX%, a maintenance. for almost overtime? those more this what be bit year? set margins should you is we for at little And groundwork of one

Lucas Buchanan

attributes that's Joanne, first question. better have to it good we expected. be very than led We did unique the slightly Thanks, that a some quarter to

efficiency and development to alluded to Erica drive and that commercial I some there the think important first But to my Some investments remainder won't is things throughout capacity related some of in happened things make long-term the all quarter business. as we year. execution to are And that that that talked to comments, persist we in the had are we've want prepared the about. in for of the necessarily key manufacturing the that

not would remaining quarters. the quarter of first reflective I necessarily expect be So, to the

Unidentified Analyst

Do want to goal for the year? set a

Lucas Buchanan

at on Joanne. We this not guidance time, giving metric It's that are early.

Unidentified Analyst

that's fair. Okay, very

to demand to we start how go geography thought make since many is year opened a you be going ask. it then have think something in let's revenue the Texas, up do which of How I'll -- run much how say, there? forward. up I'd in? you to to have like return would they Just training going are you And and I do driver each being such that about oh, flexibility programs concepts -- big

Erica Rogers

interesting really question. so Yes,

We Surgery today all, in coincidence. really centered training program surgery the the out Society Drive of beautiful is interestingly them by pure the in a center conduct of near Chicago. of Rosemont, just And as the TEST building outside enough, airport. same First just right Vascular

So obviously out of it's a it's and get for Chicago. centralized easy location, in physicians to

been there taken the there training the is, point, a need geography very situations our Drive demand occasion However, just really groups when have be before, as out Chicago. the trained of programs since to to or your regionally have TEST to are once that physicians your we and, those all at cannot on we've get where question, oversubscribed doesn't work much are But said or inception. just physician one-off to

dedicated fellows We fellowship to is, be also to Drive looking that another TEST say, happy of solely our and are programs also I'm one to doing oversubscribed.

point demand minimize the will to of but think physicians So take the try we meet we we is that. to physicians, the TEST to can the Drive. who go to qualify And certainly training yes,

Unidentified Analyst

Thank so terrific. much. you Sounds

Operator

the Erica to to queue showing call the no Ms. remarks. questions further for this I'd in back at like I'm turn any closing time. Rogers Speakers,

Erica Rogers

quarter joining you your our Very much thank results earnings attention I for and hope call. first much you wonderful appreciate have Well, evening. a time and very all XXXX

Operator

program. thank in conference. gentlemen, This the today's for and you Ladies participating concludes

have a day. You wonderful and may all disconnect

Silk Road Medical (SILK) 12 May 192019 Q1 Earnings call transcript