AxonicsAxonics (Nasdaq:AXNX) shares are on the rise today on second-quarter results that came in ahead of the consensus forecast.

The Irvine, California-based sacral neuromodulation technology developer posted losses of $34.1 million, or 47¢ per share, on sales of $69 million for the three months ended June 30, 2022, for a nearly $10 million bottom-line slide further into the red on sales growth of 50.4%.

Axonics’ losses per share of 47¢ came in 7¢ ahead of expectations on Wall Street, where analysts were looking for sales of $60.1 million.

In a news release, CEO Raymond W. Cohen said the quarterly results — which include a record revenue total — reflect the growing demand for the company’s incontinence solutions, with sacral neuromodulation sales growing 39% year-over-year thanks in large part to the April launch of the F15 recharge-free sacral neuromodulation system. Additionally, the Bulkamid system for stress urinary incontinence symptoms produced record sales numbers.

“Our direct-to-consumer television advertising campaign, which we launched in April, is achieving our objective of increasing awareness for Axonics therapies, reducing stigma and encouraging women to consult physicians who specialize in bladder and bowel dysfunction,” Cohen said. “We remain confident that our commitment to innovation, quality and providing physicians and patients strong support will continue to drive market expansion and advance Axonics on its path to market leadership.”

Axonics said it now expects to log full-year revenues of $253 million, rising from the previous guidance of $238 million. That amount of sales would represent a 40% increase from fiscal 2021.

Shares of AXNX were up 5.2% at $70.14 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.7%.