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 -4.79% change in stock price 10 days leading up to the earnings, and a -0.50% change 10 days following the report. On the earnings day itself, the stock moves by +2.57%. 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.
