Surmodics reports Q3 EPS (37c), consensus (19c)

Reports Q3 revenue $29.57M, consensus $28.05M. “While our performance in the third quarter remained impacted by lower SurVeil DCB revenue, which decreased $2.8 million year-over-year, this headwind was consistent with our stated expectations, and we achieved broad-based growth across the rest of our business,” said Gary Maharaj, President and CEO of Surmodics (SRDX), Inc. “Most notably, in our Medical Device segment, we delivered 35% growth in Pounce Thrombectomy Platform sales year-over-year, which was coupled with 37% growth in R&D and other revenue, reflecting strong customer demand. In our IVD segment, we were pleased to see strength across our product portfolio, culminating in 6% growth year-over-year.”