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Surmodics Q2 2025 Earnings Report
Surmodics reported its second quarter of fiscal year 2025 financial results, showing a decrease in total revenue and a GAAP net loss compared to the prior year.
Key Takeaways
Surmodics reported a total revenue of $28.1 million for the second quarter of fiscal year 2025, a 12% decrease year-over-year. The company experienced a GAAP net loss of $(5.2) million, compared to a net income of $0.2 million in the prior-year period. Adjusted EBITDA was $1.9 million, down from $4.8 million.
Total revenue decreased by 12% year-over-year to $28.1 million.
GAAP net loss was $(5.2) million, a significant decline from a net income of $0.2 million in the prior-year period.
Adjusted EBITDA decreased to $1.9 million from $4.8 million in the prior-year period.
Medical Device revenue decreased by 17% to $20.7 million, primarily due to lower SurVeil DCB license fees and product sales.
Revenue by Segment
Forward Guidance
Surmodics expects fiscal 2025 total revenue to range from $114 million to $117 million, representing a decrease of 10% to 7% compared to fiscal 2024. The company anticipates a GAAP net loss ranging from $(1.60) to $(1.40) per diluted share.
Positive Outlook
- Continued focus on advancing strategic initiatives to create value for stakeholders.
- Confidence in the longer-term prospects of business segments due to commercial scale and profitability.
- Differentiated portfolio of medical devices for vascular interventional treatment.
- Continued growth in customer utilization of Serene™ hydrophilic coating.
- Strong progress in building customer pipeline for Preside™ next-generation hydrophilic medical device coating.
Challenges Ahead
- Fiscal 2025 financial performance to remain impacted by lower SurVeil DCB license fee and product revenue.
- Expected decrease of SurVeil DCB license fee revenue by $3.6 million in fiscal 2025, with no further recognition after March 31, 2025.
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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