NASDAQ$SRDX
Surmodics Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Surmodics reported strong financial performance driven by revenue growth and progress on strategic objectives.
Surmodics reported a significant increase in revenue, driven by a milestone payment related to FDA approval of SurVeil DCB and strong performance in the Medical Device segment. The company also saw improvements in profitability and updated its financial guidance for fiscal year 2023.
- Total revenue increased by 111% year-over-year to $52.5 million.
- Recognized $24.6 million in license fee revenue from the Abbott agreement following FDA approval of SurVeil DCB.
- GAAP and Non-GAAP diluted EPS were $0.52, compared to losses in the prior-year period.
- Expanded adoption of Pounce and Sublime platforms and secured FDA clearance for Pounce LP Thrombectomy System.
Headline financials
Revenue & EPS history
Surmodics · Revenue · Quarterly
$52.5M
Revenue by segment
Surmodics · $52.5M total across 2 segments · Q3 2023
- Medical Device$46M+162.5%87.7%
- In Vitro Diagnostics$6.47M-11.7%12.3%
Forward guidance
Surmodics expects fiscal year 2023 total revenue to range from $130 million to $132 million and Non-GAAP diluted loss per share in fiscal 2023 is expected to range from $(0.29) to $(0.14).
Tailwinds
- Total revenue to range from $130 million to $132 million, representing an increase of 30% to 32% compared to the prior year.
- Prior guidance called for fiscal year 2023 total revenue of $103 million to $106 million.
- GAAP diluted loss per share to range from $(0.55) to $(0.40).
- Prior guidance called for fiscal 2023 GAAP diluted loss per share of $(2.30) to $(2.00).
- Non-GAAP diluted loss per share in fiscal 2023 is expected to range from $(0.29) to $(0.14).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports
+1.4%
Avg return
Earnings day
+3.0%
Avg return
5 days after
+6.9%
Avg return
30 days after
59%
37 / 63 earnings
Positive
+34.5%
Q2 2024
Best reaction
-13.1%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.6% | +8.5% | -8.0% | |
| Q2 2025 | -1.5% | +2.5% | +7.6% | |
| Q1 2025 | -4.1% | -4.5% | -7.3% | |
| Q4 2024 | +2.0% | +2.3% | +6.2% | |
| Q3 2024 | -0.5% | -1.2% | -4.5% | |
| Q2 2024 | +34.5% | +26.5% | +64.1% | |
| Q1 2024 | -9.8% | -13.0% | -9.6% | |
| Q4 2023 | +1.0% | — | — | |
| Q3 2023 | +4.7% | — | — | |
| Q2 2023 | -2.4% | — | — | |
| Q1 2023 | +4.1% | — | — | |
| Q4 2022 | -3.0% | — | — | |
| Q3 2022 | -7.8% | — | — | |
| Q2 2022 | -1.2% | — | — | |
| Q1 2022 | -11.0% | — | — | |
| Q4 2021 | -11.4% | — | — | |
| Q3 2021 | +3.7% | — | — | |
| Q2 2021 | -5.4% | — | — | |
| Q1 2021 | +15.1% | — | — | |
| Q4 2020 | -2.1% | — | — | |
| Q3 2020 | +0.5% | — | — | |
| Q2 2020 | +3.4% | — | — | |
| Q1 2020 | +6.6% | — | — | |
| Q4 2019 | -13.1% | — | — | |
| Q3 2019 | +13.7% | — | — | |
| Q2 2019 | +0.6% | — | — | |
| Q1 2019 | +17.0% | — | — | |
| Q4 2018 | -11.5% | — | — | |
| Q3 2018 | +11.2% | — | — | |
| Q2 2018 | +7.2% | — | — | |
| Q1 2018 | -0.4% | — | — | |
| Q4 2017 | +0.2% | — | — | |
| Q3 2017 | +1.8% | — | — | |
| Q2 2017 | -7.9% | — | — | |
| Q1 2017 | +1.4% | — | — | |
| Q4 2016 | -6.2% | — | — | |
| Q3 2016 | +8.9% | — | — | |
| Q2 2016 | +14.8% | — | — | |
| Q1 2016 | +8.3% | — | — | |
| Q4 2015 | -2.4% | — | — | |
| Q3 2015 | +9.8% | — | — | |
| Q2 2015 | -2.6% | — | — | |
| Q1 2015 | +3.6% | — | — | |
| Q4 2014 | -3.6% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | -4.6% | — | — | |
| Q1 2014 | +7.8% | — | — | |
| Q4 2013 | -3.6% | — | — | |
| Q3 2013 | +10.6% | — | — | |
| Q2 2013 | -6.9% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | +0.9% | — | — | |
| Q3 2012 | +10.0% | — | — | |
| Q2 2012 | -1.8% | — | — | |
| Q1 2011 | -1.4% | — | — | |
| Q1 2012 | -1.0% | — | — | |
| Q4 2011 | +1.6% | — | — | |
| Q4 2009 | +1.6% | — | — | |
| Q2 2011 | +1.6% | — | — | |
| Q3 2010 | +1.3% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q3 2011 | +1.3% | — | — | |
| Q2 2010 | +1.2% | — | — |
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