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Dec 31, 2020
Surmodics Q1 2021 Earnings Report
Surmodics reported a decrease in revenue and a GAAP loss per share for Q1 2021.
Key Takeaways
Surmodics reported a slight decrease in revenue for the first quarter of fiscal year 2021, with total revenue at $22.3 million compared to $22.6 million in the prior-year period. The company experienced a GAAP loss per share of ($0.02), while non-GAAP EPS was $0.02. Surmodics also achieved a $15 million milestone related to the TRANSCEND clinical report under the SurVeil Development and Distribution Agreement with Abbott Vascular.
Revenue decreased slightly to $22.3 million, a 1% year-over-year decrease.
GAAP EPS was ($0.02), while non-GAAP EPS was $0.02.
SurVeil drug-coated balloon pivotal clinical trial met both primary endpoints.
A $15 million milestone was achieved under the SurVeil Development and Distribution Agreement with Abbott Vascular.
Revenue by Segment
Forward Guidance
Due to the continued uncertainty surrounding the duration and magnitude of the COVID-19 pandemic, the Company will not provide financial guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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