Overview

* Surmodics ( SRDX ) fiscal Q3 revenue dips 3% yr/yr to $29.6 mln

* Adjusted EBITDA rises to $3.4 mln, improving from $1.6 mln last year

* Co raises fiscal 2025 revenue guidance, reflecting strong Q3 performance

Outlook

* Surmodics ( SRDX ) raises fiscal 2025 revenue guidance to $116.5 mln-$118.5 mln

* Company expects fiscal 2025 GAAP net loss of $(1.70) to $(1.55) per share

* Surmodics ( SRDX ) forecasts fiscal 2025 non-GAAP net loss of $(0.35) to $(0.20) per share

* Company anticipates SurVeil DCB product revenue to decrease by $7.5 mln in fiscal 2025

Result Drivers

* SURVEIL DCB DECLINE - Revenue impacted by a $1.7 mln decrease in SurVeil DCB product sales due to lower demand from Abbott

* POUNCE PLATFORM GROWTH - 35% increase in Pounce Thrombectomy Platform sales, reflecting strong customer demand

* IVD SEGMENT STRENGTH - In Vitro Diagnostics revenue grew 6% year-over-year, driven by broad product portfolio growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $16.76

Product mln

Sales

Q3 EPS -$0.37

Q3 Net -$5.32

Income mln

Q3 Basic -$0.37

EPS

Q3 -$5.93

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)