Surmodics sees FY24 EPS ($1.17)- (87c), consensus ($1.16)

Surmodics now expects fiscal 2024 total revenue to range from $117M to $121M, consensus is $119.26M. representing a decrease of 12 % to 9 % compared to fiscal 2023. Excluding SurVeil DCB license fee revenue, Surmodics expects fiscal 2024 total revenue to range from $113M to $117M, representing an increase of 10% to 14% compared to fiscal 2023. The company’s prior guidance called for fiscal 2024 total revenue of $116 to $121M, representing a decrease of 13 % to 9 % compared to fiscal 2023, and total revenue excluding SurVeil DCB license fee revenue( of $112 Mto $117M representing an increase of 9% to 14% compared to fiscal 2023. The company now expects fiscal 2024 GAAP diluted loss per share to range from $(1.40) to $(1.10). The company’s prior guidance called for fiscal 2024 GAAP diluted loss per share to range from $(1.55) to $(1.20). Non-GAAP diluted loss per share(4) in fiscal 2024 is now expected to range from $(1.17) to $(0.87). The company’s prior guidance called for fiscal 2024 Non-GAAP diluted loss per share(4) of $(1.32) to $(0.97).