SRDX Earnings Prediction
The chart below shows how SRDX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SRDX sees a -4.04% change in stock price 10 days leading up to the earnings, and a -1.12% change 10 days following the report. On the earnings day itself, the stock moves by +3.06%. This data can give you a slight idea of what to expect for the next quarter's release.
SRDX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
31.96M
17.50%
4.60%
Gross Margin
75.04%
-0.90%
9.80%
Operating Margin
2.06%
110.57%
-296.19%
Net Margin
0.77%
102.71%
-129.96%
EPS
0.02
103.64%
-133.33%
No Data Available
SRDX Earnings Analysis
Surmodics, Inc. Corporation (SRDX.O) Earnings Conference Call
Positive
- Quarterly financial performance showed impressive revenue growth of 18% year-over-year to $32 million
- Medical Device segment revenue increased by 26% to $24.8 million
- Product sales in the Medical Device segment grew by 40% year-over-year
- Performance coatings revenue increased by 27% year-over-year, with significant growth driven by royalties and license fee revenue
- Achieved significant improvements in profitability profile with an $8 million improvement from a GAAP net loss to GAAP net income
- Strong progress made towards achieving strategic objectives for fiscal 2024
- Capitalizing on growth catalysts in the vascular interventions portfolio, including strong adoption and utilization of SurVeil DCB, Pounce thrombectomy, and Sublime radial access products
- Successful transition to steady state operations in manufacturing SurVeil DCB after initial stocking order
- Launch of Pounce Venous and Pounce LP thrombectomy systems, receiving positive feedback and transitioning to full commercial launch
- Continued delivery on strategic objective to drive durable revenue growth and cash flow generation across core businesses
- Core business revenue increased 8% year-over-year, contributing to enhanced profitability profile
- Strengthened position as an industry-leading provider of performance coating technologies with preside hydrophilic coatings
- Strong execution translating to significant financial performance improvements in the first half of fiscal 2024
- Year-over-year product sales growth of 41% in the Medical Device segment
- Total revenue growth of 20% on a year-over-year basis in the first half of fiscal 2024, accelerated by product sales growth
- Financial guidance updated to reflect outperformance in the second quarter and improved outlook for the remainder of fiscal 2024
- Expect total revenue growth of at least 15% year-over-year, excluding SurVeil DCB license fee revenue
- Strong momentum and focus on growth strategy to deliver sustained revenue growth and profitability improvements
- Commitment to delivering value for patients, customers, employees, and investors by pursuing the mission to improve disease detection and treatment
- Positioned well to continue strong growth trajectory and deliver value for stakeholders
- Thanked stakeholders for their support and emphasized commitment to pursue the company's mission to improve healthcare detection and treatment.
Negative
- The In Vitro Diagnostics (IVD) segment revenue decreased 5% to $7.1 million, driven by lower sales of substrate products, indicating a decline in this area of the business.
- Product gross margin decreased to 60.8% from 62.6% in the prior year period, impacted by under absorption and production inefficiencies associated with scaling up new products.
- Total revenue for the third quarter is expected to decrease by approximately 42% to 44%, mainly due to the significant recognition of SurVeil drug-coated balloon license fee revenue in the prior year period.
- Cash and investments are anticipated to decrease by $10 million to $7 million by the end of fiscal 2024, highlighting a potential reduction in financial liquidity compared to the prior year.
- Despite overall revenue growth expectations, the expectation of a net loss per diluted share ranging from $0.67 to $0.47 indicates ongoing challenges in achieving profitability in the near term.
SRDX FAQs
How does SRDX typically perform around its earnings report dates?
SRDX's stock performance around earnings reports can vary, but historical data shows specific patterns, such as a -4.04% change leading up to the report and a -1.12% change in the 10 days following the release.
