Surmodics reports Q4 EPS 53c, consensus 18c

Reports Q3 revenue $27.97M, consensus $26.27M.”We are pleased with our revenue performance in the fourth quarter, which increased 8% year-over-year – 12% excluding SurVeil DCB license fees and ultimately exceeded our guidance range, driven by impressive contributions from both of our business segments,” said Gary Maharaj, President and CEO of Surmodics, Inc. “We complemented our fourth quarter revenue performance with notable operating results, delivering positive Adjusted EBITDA and generating cash flow from operations. In addition to our financial accomplishments, we also made strong progress with respect to each of our key strategic objectives: supporting the future commercialization of our SurVeil DCB, advancing the initial commercialization of our Pounce(TM) arterial thrombectomy and Sublime(TM) radial access platforms, and driving strong revenue growth and cash flow from our ‘core’ medical device performance coatings and In Vitro Diagnostics businesses on a combined basis.” Mr. Maharaj continued, “Looking back on fiscal 2023, our team successfully navigated multiple challenges, while ultimately achieving our stated objectives and delivering solid financial performance. We believe we are strategically positioned for future success as a result, with a portfolio and pipeline of key product growth catalysts, durable and profitable ‘core’ businesses, more than $45 million of cash and investments to support our operations, and access to approximately $61 million in available debt capital to provide additional financial flexibility. In fiscal 2024, we are committed to executing