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Sep 30, 2023
Surmodics Q4 2023 Earnings Report
Reported an increase in revenue and positive GAAP and non-GAAP EPS compared to the prior-year period.
Key Takeaways
Surmodics reported an 8% increase in total revenue to $28.0 million for the fourth quarter of fiscal year 2023, with GAAP EPS of $0.47 and non-GAAP EPS of $0.53. The company's revenue performance exceeded its guidance range, driven by contributions from both business segments. Surmodics is strategically positioned for future success with a portfolio of key product growth catalysts and a healthy balance sheet.
Total revenue increased by 8% year-over-year to $28.0 million.
GAAP diluted EPS was $0.47, compared to $(1.06) in the prior-year period.
Non-GAAP diluted EPS was $0.53, compared to $(0.26) in the prior-year period.
Launched Preside™ medical device coating technology.
Surmodics
Surmodics
Surmodics Revenue by Segment
Revenue by Segment
Medical Device Revenue
CapyFin.comIn Vitro Diagnostics Revenue
CapyFin.com Forward Guidance
Surmodics expects fiscal 2024 total revenue to range from $116 million to $121 million, representing a decrease of (13)% to (9)% compared to fiscal 2023. The company expects fiscal 2024 GAAP diluted loss per share to range from $(1.55) to $(1.20). Non-GAAP diluted loss per share in fiscal 2024 is expected to range from $(1.32) to $(0.97).
Revenue & Expenses
Visualization of income flow from segment revenue to net income