Surmodics Q2 revenue $32M (+18% YoY), GAAP net income $0.2M; raises FY2024 guidance; launches two thrombectomy devices

SURMODICS INC

2024-Q2 EPS reported -$0.04 revenue$62,510,000

Total revenue $32.0M, up 18% YoY; GAAP net income $0.2M vs loss of $7.7M in prior-year period.
Medical Device product sales up 40% to $11.1M, driven by SurVeil DCB commercial shipments and Pounce sales.
Adjusted EBITDA $4.8M, improving from $(1.5M) in Q2 fiscal 2023.
FY2024 guidance raised: revenue now $122-$124M; GAAP diluted loss per share $(0.90)-$(0.70) vs prior $(1.40)-$(1.10).
Commercial launch of Pounce Venous and Pounce LP thrombectomy systems; cash and investments $40.9M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SURMODICS INC reported second quarter ended March 31, 2024 results: revenue $32.0 million, net income $0.2 million. Guidance raised.

Period: second quarter ended March 31, 2024
Revenue: $32.0 million
Net income: $0.2 million
Guidance: raised
Result: reported results

Exact text from the filing

today reported financial results for its second quarter ended March 31, 2024, and updated financial guidance for its fiscal year ending September 30, 2024. Second Quarter Fiscal 2024 Financial Summary • Total Revenue of $32.0 million

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Source: SEC EDGAR

accession 0000950170-24-050881

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