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Mar 31, 2021
Surmodics Q2 2021 Earnings Report
Surmodics' Q2 2021 earnings exceeded expectations with record revenue in In Vitro Diagnostics and growth in Medical Device coatings royalty revenue.
Key Takeaways
Surmodics reported a strong second quarter, with revenue of $35.0 million, a 53% increase year-over-year. GAAP EPS was $0.58 and non-GAAP EPS was $0.62. The company recognized $10.8 million in license fee revenue from the SurVeil™ Development and Distribution Agreement with Abbott.
Revenue increased by 53% year-over-year, reaching $35.0 million.
GAAP EPS was reported at $0.58, with non-GAAP EPS at $0.62.
The company saw successful first patient uses of two Sublime™ radial access platform devices.
License fee revenue of $10.8 million was recognized from the SurVeil™ agreement with Abbott.
Surmodics
Surmodics
Surmodics Revenue by Segment
Revenue by Segment
Medical Device Revenue
CapyFin.comIn Vitro Diagnostics Revenue
CapyFin.com Forward Guidance
Surmodics expects fiscal year 2021 revenue to range from $101 million to $105 million. The Company expects fiscal 2021 diluted GAAP EPS to range from a loss per share of $(0.05) to earnings per share of $0.20. Non-GAAP diluted EPS for fiscal 2021 is expected to range from $0.10 to $0.35.
Revenue & Expenses
Visualization of income flow from segment revenue to net income