Surmodics Inc Financials
This page shows Surmodics Inc (SRDX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Surmodics Inc has an operating margin of -4.5%, meaning the company retains $-4 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 3.9% the prior year.
Surmodics Inc's revenue declined 4.9% year-over-year, from $132.6M to $126.1M. This contraction results in a growth score of 15/100.
Surmodics Inc carries a low D/E ratio of 0.25, meaning only $0.25 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.96, Surmodics Inc holds $3.96 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Surmodics Inc generated $248K in operating cash flow, capex of $3.5M consumed most of it, leaving -$3.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Surmodics Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Surmodics Inc generates $-0.02 in operating cash flow ($248K OCF vs -$11.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Surmodics Inc earns $-1.6 in operating income for every $1 of interest expense (-$5.6M vs $3.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Surmodics Inc generated $126.1M in revenue in fiscal year 2024. This represents a decrease of 4.9% from the prior year.
Surmodics Inc's EBITDA was $3.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 77.7% from the prior year.
Surmodics Inc generated -$3.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 142.7% from the prior year.
Surmodics Inc reported -$11.5M in net income in fiscal year 2024. This represents a decrease of 651.4% from the prior year.
Surmodics Inc earned $-0.82 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 645.5% from the prior year.
Surmodics Inc held $36.1M in cash against $29.6M in long-term debt as of fiscal year 2024.
Surmodics Inc had 14M shares outstanding in fiscal year 2024. This represents an increase of 1.2% from the prior year.
Surmodics Inc's gross margin was 73.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 7.4 percentage points from the prior year.
Surmodics Inc's operating margin was -4.5% in fiscal year 2024, reflecting core business profitability. This is down 8.4 percentage points from the prior year.
Surmodics Inc's net profit margin was -9.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 8.0 percentage points from the prior year.
Surmodics Inc invested $38.4M in research and development in fiscal year 2024. This represents a decrease of 17.7% from the prior year.
Surmodics Inc invested $3.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 19.7% from the prior year.
SRDX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $29.6M+5.3% | $28.1M-6.1% | $29.9M-1.4% | $30.3M-5.1% | $32.0M+4.6% | $30.6M-41.8% | $52.5M+93.0% | $27.2M |
| Cost of Revenue | $8.6M+9.5% | $7.8M+5.5% | $7.4M-12.1% | $8.4M+19.0% | $7.1M-19.3% | $8.8M+27.2% | $6.9M+20.6% | $5.7M |
| Gross Profit | $21.0M+3.6% | $20.3M-10.0% | $22.5M+2.8% | $21.9M-11.9% | $24.9M+14.3% | $21.7M-52.3% | $45.6M+112.3% | $21.5M |
| R&D Expenses | $7.6M-9.5% | $8.4M-6.4% | $8.9M-8.4% | $9.8M-4.5% | $10.2M+18.1% | $8.7M-22.9% | $11.2M-13.1% | $12.9M |
| SG&A Expenses | $17.8M+18.0% | $15.0M-0.9% | $15.2M-8.7% | $16.6M+27.0% | $13.1M+4.4% | $12.5M-2.6% | $12.9M-0.7% | $13.0M |
| Operating Income | -$5.2M-30.7% | -$4.0M-61.6% | -$2.5M+53.8% | -$5.4M-914.7% | $659K+304.7% | -$322K-101.5% | $21.4M+425.3% | -$6.6M |
| Interest Expense | $864K+1.1% | $855K-3.1% | $882K+0.3% | $879K-0.2% | $881K-1.7% | $896K+1.4% | $884K0.0% | $884K |
| Income Tax | -$611K-215.9% | $527K-25.5% | $707K-59.4% | $1.7M+2251.9% | -$81K-230.6% | $62K-99.5% | $13.3M+3514.9% | $368K |
| Net Income | -$5.3M-2.1% | -$5.2M-42.7% | -$3.7M+51.7% | -$7.6M-3158.3% | $247K+131.4% | -$786K-110.7% | $7.3M+195.0% | -$7.7M |
| EPS (Diluted) | $-0.37-2.8% | $-0.36-38.5% | $-0.26+50.9% | $-0.53-2750.0% | $0.02+133.3% | $-0.06-111.5% | $0.52+194.5% | $-0.55 |
SRDX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $169.8M+4.0% | $163.2M-0.3% | $163.7M-8.3% | $178.6M-2.3% | $182.8M+1.4% | $180.2M-3.0% | $185.7M+11.8% | $166.2M |
| Current Assets | $76.0M+5.9% | $71.7M-0.1% | $71.8M-11.6% | $81.3M-3.5% | $84.3M+5.6% | $79.8M-7.9% | $86.7M+41.6% | $61.2M |
| Cash & Equivalents | $26.3M-9.9% | $29.2M-3.2% | $30.1M-16.5% | $36.1M+9.3% | $33.0M+41.4% | $23.4M-43.6% | $41.4M+115.9% | $19.2M |
| Inventory | $15.8M-1.9% | $16.1M+5.2% | $15.3M+0.6% | $15.2M-1.5% | $15.4M+6.7% | $14.4M-2.7% | $14.8M+7.8% | $13.8M |
| Accounts Receivable | $13.2M+13.6% | $11.6M-7.7% | $12.6M-5.5% | $13.3M+7.9% | $12.3M-4.6% | $12.9M+19.1% | $10.8M-10.5% | $12.1M |
| Goodwill | $46.3M+6.1% | $43.7M+3.0% | $42.4M-5.0% | $44.6M+2.4% | $43.6M-1.6% | $44.3M+3.1% | $42.9M-2.0% | $43.8M |
| Total Liabilities | $58.5M+10.5% | $53.0M+1.9% | $52.0M-12.9% | $59.7M+1.4% | $58.9M+1.3% | $58.1M-11.7% | $65.8M+3.5% | $63.6M |
| Current Liabilities | $19.4M+39.4% | $13.9M+5.8% | $13.2M-35.8% | $20.5M+7.0% | $19.2M+16.5% | $16.5M-31.2% | $24.0M+25.2% | $19.1M |
| Long-Term Debt | $29.7M+0.1% | $29.6M+0.1% | $29.6M+0.1% | $29.6M+0.3% | $29.5M+0.1% | $29.4M+0.1% | $29.4M+0.3% | $29.3M |
| Total Equity | $111.3M+1.0% | $110.2M-1.4% | $111.8M-6.0% | $118.9M-4.1% | $124.0M+1.5% | $122.2M+1.9% | $119.9M+16.9% | $102.6M |
| Retained Earnings | $61.5M-8.0% | $66.9M-7.2% | $72.1M-4.8% | $75.7M-12.7% | $86.7M+0.3% | $86.5M-0.9% | $87.3M+19.2% | $73.2M |
SRDX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.4M+48.1% | $949K+112.0% | -$7.9M-315.8% | $3.7M-50.7% | $7.4M+184.3% | -$8.8M-803.4% | $1.3M+121.5% | -$5.8M |
| Capital Expenditures | $501K+57.1% | $319K+5.6% | $302K-44.3% | $542K-57.4% | $1.3M+76.5% | $720K-3.7% | $748K+3.5% | $723K |
| Free Cash Flow | $904K+43.5% | $630K+107.7% | -$8.2M-363.0% | $3.1M-49.3% | $6.1M+164.6% | -$9.5M-1994.8% | $502K+107.7% | -$6.5M |
| Investing Cash Flow | -$4.9M-116.4% | -$2.3M-161.7% | $3.7M-60.9% | $9.5M+238.1% | $2.8M+133.0% | -$8.5M-82.1% | -$4.7M-543.4% | -$723K |
| Financing Cash Flow | -$29K-160.4% | $48K+104.0% | -$1.2M+23.0% | -$1.6M-285.7% | -$405K+61.4% | -$1.0M-350.4% | $419K+152.8% | -$794K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SRDX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.0%-1.1pp | 72.1%-3.1pp | 75.2%+3.0pp | 72.2%-5.6pp | 77.8%+6.6pp | 71.2%-15.6pp | 86.8%+7.9pp | 78.9% |
| Operating Margin | -17.7%-3.5pp | -14.3%-6.0pp | -8.3%+9.4pp | -17.7%-19.8pp | 2.1%+3.1pp | -1.1%-41.9pp | 40.8%+65.0pp | -24.2% |
| Net Margin | -18.0%+0.6pp | -18.6%-6.3pp | -12.2%+12.7pp | -24.9%-25.7pp | 0.8%+3.3pp | -2.6%-16.6pp | 14.0%+42.4pp | -28.4% |
| Return on Equity | N/A | N/A | N/A | N/A | 0.2% | N/A | 6.5% | N/A |
| Return on Assets | -3.1%+0.1pp | -3.2%-1.0pp | -2.2%+2.0pp | -4.3%-4.4pp | 0.1%+0.6pp | -0.4%-4.3pp | 3.9%+8.5pp | -4.7% |
| Current Ratio | 3.91-1.2 | 5.14-0.3 | 5.45+1.5 | 3.96-0.4 | 4.39-0.5 | 4.84+1.2 | 3.62+0.4 | 3.20 |
| Debt-to-Equity | 0.270.0 | 0.270.0 | 0.26+0.0 | 0.25+0.0 | 0.240.0 | 0.240.0 | 0.25-0.0 | 0.29 |
| FCF Margin | 3.1%+0.8pp | 2.2%+29.6pp | -27.4%-17.5pp | -9.9%-29.1pp | 19.2%+50.4pp | -31.1%-79.6pp | 48.4%+72.5pp | -24.1% |
Similar Companies
Frequently Asked Questions
What is Surmodics Inc's annual revenue?
Surmodics Inc (SRDX) reported $126.1M in total revenue for fiscal year 2024. This represents a -4.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Surmodics Inc's revenue growing?
Surmodics Inc (SRDX) revenue declined by 4.9% year-over-year, from $132.6M to $126.1M in fiscal year 2024.
Is Surmodics Inc profitable?
No, Surmodics Inc (SRDX) reported a net income of -$11.5M in fiscal year 2024, with a net profit margin of -9.2%.
What is Surmodics Inc's earnings per share (EPS)?
Surmodics Inc (SRDX) reported diluted earnings per share of $-0.82 for fiscal year 2024. This represents a -645.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Surmodics Inc's EBITDA?
Surmodics Inc (SRDX) had EBITDA of $3.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Surmodics Inc have?
As of fiscal year 2024, Surmodics Inc (SRDX) had $36.1M in cash and equivalents against $29.6M in long-term debt.
What is Surmodics Inc's gross margin?
Surmodics Inc (SRDX) had a gross margin of 73.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Surmodics Inc's operating margin?
Surmodics Inc (SRDX) had an operating margin of -4.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Surmodics Inc's net profit margin?
Surmodics Inc (SRDX) had a net profit margin of -9.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Surmodics Inc's free cash flow?
Surmodics Inc (SRDX) generated -$3.2M in free cash flow during fiscal year 2024. This represents a -142.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Surmodics Inc's operating cash flow?
Surmodics Inc (SRDX) generated $248K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Surmodics Inc's total assets?
Surmodics Inc (SRDX) had $178.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Surmodics Inc's capital expenditures?
Surmodics Inc (SRDX) invested $3.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Surmodics Inc spend on research and development?
Surmodics Inc (SRDX) invested $38.4M in research and development during fiscal year 2024.
How many shares does Surmodics Inc have outstanding?
Surmodics Inc (SRDX) had 14M shares outstanding as of fiscal year 2024.
What is Surmodics Inc's current ratio?
Surmodics Inc (SRDX) had a current ratio of 3.96 as of fiscal year 2024, which is generally considered healthy.
What is Surmodics Inc's debt-to-equity ratio?
Surmodics Inc (SRDX) had a debt-to-equity ratio of 0.25 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Surmodics Inc's return on assets (ROA)?
Surmodics Inc (SRDX) had a return on assets of -6.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Surmodics Inc's Piotroski F-Score?
Surmodics Inc (SRDX) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Surmodics Inc's earnings high quality?
Surmodics Inc (SRDX) has an earnings quality ratio of -0.02x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Surmodics Inc cover its interest payments?
Surmodics Inc (SRDX) has an interest coverage ratio of -1.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Surmodics Inc?
Surmodics Inc (SRDX) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.