Surmodics raises FY23 EPS view to ($2.09) to ($1.69), consensus ($2.38)

Prior view was ($2.54) to ($2.14). Lowers 2023 revenue view to $102M-$106M from $103M-$107M, consensus $104.8M. Mr. Maharaj continued, "We are updating our guidance today to reflect our financial performance in the first quarter, as well as our revised expectations for the remaining nine months of fiscal 2023. Looking ahead, we remain focused on pursuing our three key strategic objectives for 2023 as efficiently as possible, with the goal of achieving strong, sustainable, long-term growth. Specifically, we will continue to make progress with respect to our regulatory strategy for the SurVeil DCB, while advancing the initial commercialization of our Sublime(TM) radial and Pounce(TM) arterial thrombectomy platforms and driving revenue and cash flow growth from our Medical Device performance coating offerings and In Vitro Diagnostics business. With a recently enhanced balance sheet and access to approximately $60 million in incremental debt financing, a disciplined approach to spending and capital allocation, strong and stable core businesses and a portfolio of innovative vascular intervention technologies, we believe we are well-positioned for the future as we progress through fiscal 2023."