Surmodics reported an 18% increase in total revenue to $32.0 million for the second quarter of fiscal year 2024, with net income of $0.2 million. The company also announced the commercial launch of two new thrombectomy devices, Pounce™ Venous and Pounce LP. Updated financial guidance for fiscal year 2024 reflects increased revenue and EPS expectations.
Total revenue increased by 18% year-over-year to $32.0 million.
Excluding SurVeil™ DCB license fee revenue, total revenue increased by 19% year-over-year to $30.9 million.
GAAP net income was $0.2 million, a significant improvement from the prior-year net loss of $(7.7) million.
The company commercially launched the Pounce Venous Thrombectomy System and the Pounce LP Thrombectomy System.
Surmodics raised its revenue and EPS guidance for fiscal year 2024, reflecting strong second-quarter performance and an improved outlook for the remainder of the year.
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