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Jun 30, 2021
Surmodics Q3 2021 Earnings Report
Reported a decrease in revenue due to lower sales in both the Medical Device and In Vitro Diagnostics segments, while also experiencing a net loss.
Key Takeaways
Surmodics reported a decrease in revenue for Q3 2021, with a net loss incurred during the quarter. The company experienced lower sales in both its Medical Device and In Vitro Diagnostics segments.
Total revenue decreased by 12% to $22.4 million compared to the prior-year period.
Medical Device revenue decreased 15% to $15.9 million.
In Vitro Diagnostics revenue decreased 3% to $6.5 million.
Net loss was $2.4 million, or $0.18 per diluted share, compared to a net income of $0.3 million, or $0.02 per diluted share, in the prior-year period.
Surmodics
Surmodics
Surmodics Revenue by Segment
Revenue by Segment
Medical Device Revenue
CapyFin.comIn Vitro Diagnostics Revenue
CapyFin.com Forward Guidance
Surmodics anticipates revenue for fiscal year 2021 to be in the range of $90 million to $92 million and expects a net loss per share between $0.79 and $0.89.
Positive Outlook
- Revenue expectations of $90 to $92 million for fiscal year 2021.
- Focus on strategic investments in key growth areas.
- Continued efforts to drive operational efficiencies.
- Ongoing product development and innovation initiatives.
- Commitment to serving the medical device and in vitro diagnostics markets.
Challenges Ahead
- Anticipated net loss per share between $0.79 and $0.89 for fiscal year 2021.
- Revenue impacted by lower sales in both Medical Device and In Vitro Diagnostics segments.
- Increased operating expenses affecting profitability.
- Uncertainties related to market conditions and competition.
- Potential impact of the COVID-19 pandemic on business operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income