Why Axonics Shares Are Trading Higher Today?

Axonics, Inc. AXNX shares are trading higher after the company reported preliminary fourth-quarter and full-year 2022 total net revenue results above estimates. The company also issued FY23 revenue guidance above estimates.

The company's quarterly net revenue is expected to be between $85.6 to $86.0 million, which is above the analyst consensus estimate of $74.3 million. For 2022, revenue is expected to be in the range of $273.6 million, which is above the analyst estimate of $262.38 million.

The company expects 2023 net revenue to be $342 million, versus the $327.2 million analyst estimate.

Axonics Inc, a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction.

AXNX Price Action: Axonics has a 52-week high of $79.915 and a 52-week low of $38.41.

Axonics shares are up 9.22% at $60.99 at time of publication, according to Benzinga Pro.