What is Surmodics, Inc.'s earnings per share (EPS)?

Surmodics, Inc. (SRDX) reported diluted earnings per share of -$0.82 for fiscal year 2024. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.

Surmodics (SRDX) Financials

SRDX NASDAQ

Trailing 12 months to June 30, 2025

Revenue $120.8M 0.0% YoY

Net Income -$17.6M n/m YoY

EPS (Diluted) -$1.24 n/m YoY

Free Cash Flow -$3.5M n/m YoY

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2025, ended Jun 30, 2025 Reported Aug 8, 2025 Currency USD FYE September

Newest figures come from the 10-Q for Q3 FY2025, filed Aug 8, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SRDX SEC filings page.

Surmodics, Inc. (SRDX) reported $120.8M in revenue over the twelve months to Jun 30, 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI SRDX FY2024 2026-10-22

FY2024 reveals a high-margin model losing cash conversion as product costs rose faster than sales and fixed overhead stayed elevated.

Revenue declined 4.9% in FY2024 while cost of revenue increased 32.3%, showing the setback was not simply weaker demand. That cost pressure compressed gross margin, and operating cash flow fell from $10.5M in FY2023 to $248K, so the reported result stopped converting into cash.

Gross margin fell 7.4 percentage points to 73.8% in FY2024, showing that direct costs absorbed much of the business's high-value economics. Operating margin then turned negative at -4.5%, indicating overhead and other operating costs remained too large for the reduced gross profit.

The balance sheet is not debt-led: current ratio was 4.0x and debt-to-equity was 0.2x, so the strain appears concentrated in operations rather than solvency structure. R&D declined to $38.4M even as SG&A reached $56.8M, while capex was only 2.8% of revenue yet free cash flow was -$3.2M.

Financial Health Signals

Financial health score pending refresh

We are recalculating Surmodics, Inc.'s peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Weak

3/9

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.

Earnings Quality Mixed

N/A

Surmodics, Inc. reported a net loss of $11.5M while generating $248K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Surmodics, Inc. reported an operating loss of $5.6M against $3.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$29.6M

YoY-2.6%

QoQ+5.3%

5Y CAGR+1.9%

10Y CAGR+6.4%

Surmodics, Inc. generated $29.6M in revenue in Q3 2025. This represents a decrease of 2.6% from the same quarter a year earlier. Against the prior quarter it is up 5.3%.

EBITDA

-$3.1M

YoYn/m

QoQn/m

Surmodics, Inc.'s EBITDA was -$3.1M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Net Income

-$5.3M

YoYn/m

QoQn/m

Surmodics, Inc. reported a net loss of $5.3M in Q3 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)

-$0.37

YoYn/m

QoQn/m

Surmodics, Inc. earned -$0.37 per diluted share (EPS) in Q3 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Balance Sheet

Free Cash Flow

$904K

YoYn/m

QoQ+43.5%

5Y CAGR-39.5%

10Y CAGR-15.7%

Surmodics, Inc. generated $904K in free cash flow in Q3 2025, representing cash available after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 43.5%.

Cash & Debt

$26.3M

YoY+8.1%

QoQ-9.9%

5Y CAGR-6.3%

10Y CAGR-7.0%

Surmodics, Inc. held $26.3M in cash against $29.7M in long-term debt as of Q3 2025.

Shares Outstanding

14M

YoY+0.2%

QoQ0.0%

5Y CAGR+0.9%

10Y CAGR+1.0%

Surmodics, Inc. had 14M shares outstanding in Q3 2025. This represents an increase of 0.2% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q3 2025.

Margins & Returns

Gross Margin

71.0%

YoY-1.2pp

QoQ-1.1pp

Surmodics, Inc.'s gross margin was 71.0% in Q3 2025, indicating the percentage of revenue retained after direct costs. This is down 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.1 percentage points.

Operating Margin

-17.7%

YoY0.0pp

QoQ-3.5pp

5Y change-22.1pp

10Y change-54.5pp

Surmodics, Inc.'s operating margin was -17.7% in Q3 2025, reflecting core business profitability. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.

Net Margin

-18.0%

YoY+6.9pp

QoQ+0.6pp

5Y change-27.1pp

10Y change-42.6pp

Surmodics, Inc.'s net profit margin was -18.0% in Q3 2025, showing the share of revenue converted to profit. This is up 6.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.

Return on Equity

-4.8%

YoY+1.6pp

QoQ-0.1pp

5Y change-6.7pp

10Y change-9.2pp

Surmodics, Inc.'s quarterly ROE was -4.8% in Q3 2025: one quarter's net income over shareholder equity, not annualized. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Capital Allocation

R&D Spending

$7.6M

YoY-22.4%

QoQ-9.5%

Surmodics, Inc. invested $7.6M in research and development in Q3 2025. This represents a decrease of 22.4% from the same quarter a year earlier. Against the prior quarter it is down 9.5%.

Capital Expenditures

$501K

YoY-47.8%

QoQ+57.1%

5Y CAGR+9.7%

10Y CAGR+8.0%

Surmodics, Inc. invested $501K in capex in Q3 2025, funding long-term assets and infrastructure. This represents a decrease of 47.8% from the same quarter a year earlier. Against the prior quarter it is up 57.1%.

Share Buybacks

Not reported for Q3 2025.

SRDX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SRDX quarterly income statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Revenue	$120.8M	$126.1M-4.9%	$132.6M+32.6%	$100.0M-4.9%	$105.1M+10.8%	$94.9M-5.2%	$100.1M+23.0%	$81.3M+11.2%	$73.1M+2.4%	$71.4M+15.3%	$61.9M+7.8%	$57.4M+2.3%	$56.1M+8.1%	$51.9M-1.6%	$52.8M-3.2%	$54.5M
Cost of Revenue	$32.5M	$33.0M+32.3%	$25.0M+22.7%	$20.3M+18.4%	$17.2M+12.1%	$15.3M+12.3%	$13.6M-2.6%	$14.0M+22.5%	$11.4M+4.7%	$10.9M+26.6%	$8.6M+7.5%	$8.0M+1.5%	$7.9M+6.5%	$7.4M+9.9%	$6.8M-0.8%	$6.8M
Gross Profit	$88.3M	$93.1M-13.5%	$107.6M+35.2%	$79.6M-9.5%	$88.0M+10.6%	$79.5M-8.0%	$86.4M+28.4%	$67.3M+9.2%	$61.7M+2.0%	$60.5M+13.5%	$53.3M+7.8%	$49.4M+2.5%	$48.2M+8.4%	$44.5M-3.3%	$46.0M-3.5%	$47.7M
R&D Expenses	$34.6M	$38.4M-17.7%	$46.6M-7.9%	$50.6M+8.3%	$46.7M-6.9%	$50.2M-5.1%	$52.9M+29.1%	$41.0M+28.8%	$31.8M+72.0%	$18.5M+14.4%	$16.2M+4.0%	$15.6M+3.1%	$15.1M+6.6%	$14.1M+1.0%	$14.0M-26.2%	$19.0M
SG&A Expenses	$62.5M	$56.8M+9.5%	$51.9M+10.5%	$46.9M+53.0%	$30.7M+8.0%	$28.4M+18.5%	$23.9M-0.7%	$24.1M+17.7%	$20.5M+13.8%	$18.0M+20.8%	$14.9M+1.5%	$14.7M+6.0%	$13.9M-1.2%	$14.0M-5.6%	$14.9M+18.8%	$12.5M
Operating Income	-$12.3M	-$5.6M-209.6%	$5.2Mn/m	-$22.1M-429.7%	$6.7Mn/m	-$1.3M-119.3%	$6.5Mn/m	-$8.8M-223.9%	$7.1M-57.9%	$16.9M-11.7%	$19.1M+2.8%	$18.6M-1.3%	$18.8M+15.2%	$16.3M+5.3%	$15.5M+29.5%	$12.0M
EBITDA	N/A	$3.0M-77.7%	$13.7Mn/m	-$13.0M-188.0%	$14.7M+144.8%	$6.0M-56.4%	$13.8Mn/m	-$2.4M-118.7%	$12.7M-41.8%	$21.7M-0.7%	$21.9M+2.8%	$21.3M-1.9%	$21.7M+12.6%	$19.3M+3.2%	$18.7M+19.7%	$15.6M
Interest Expense	$3.5M	$3.5M+1.5%	$3.5M+483.4%	$598K+92.9%	$310K+133.1%	$133K-12.5%	$152K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$2.9M	$4.0M+0.3%	$4.0M-15.9%	$4.8M+126.7%	$2.1Mn/m	-$2.6Mn/m	-$34Kn/m	-$3.1M-199.0%	$3.1M-55.4%	$7.0M+10.6%	$6.3M+0.5%	$6.3M+8.4%	$5.8M-6.4%	$6.2M+10.2%	$5.6M+12.6%	$5.0M
Net Income	-$17.6M	-$11.5Mn/m	-$1.5Mn/m	-$27.3M-743.7%	$4.2M+277.3%	$1.1M-85.2%	$7.6Mn/m	-$4.5M-213.5%	$3.9M-60.7%	$10.0M-16.4%	$11.9M-0.7%	$12.0M-20.7%	$15.2M+48.2%	$10.2Mn/m	-$18.5Mn/m	-$21.1M
EPS (Basic)	N/A	-$0.82n/m	-$0.11n/m	-$1.96-732.3%	$0.31+287.5%	$0.08-86.0%	$0.57n/m	-$0.34-213.3%	$0.30-61.0%	$0.77-16.3%	$0.92+4.5%	$0.88-16.2%	$1.05+78.0%	$0.59n/m	-$1.06n/m	-$1.21
EPS (Diluted)	-$1.24	-$0.82n/m	-$0.11n/m	-$1.96-753.3%	$0.30+275.0%	$0.08-85.5%	$0.55n/m	-$0.34-217.2%	$0.29-61.8%	$0.76-15.6%	$0.90+3.4%	$0.87-15.5%	$1.03+74.6%	$0.59n/m	-$1.06n/m	-$1.21
Diluted Shares (Avg)	N/A	14M+0.9%	14M+0.8%	14M-0.5%	14M+1.3%	14M+0.2%	14M+4.7%	13M-1.7%	13M+1.3%	13M-0.5%	13M-4.2%	14M-5.8%	15M-15.5%	17M-0.2%	17M+0.5%	17M

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Revenue	$29.6M-2.6%	$28.1M-12.1%	$29.9M-2.1%	$33.2M+18.8%	$30.3M-42.2%	$32.0M+17.5%	$30.6M+22.5%	$28.0M+7.6%
Cost of Revenue	$8.6M+1.5%	$7.8M+10.3%	$7.4M-15.7%	$8.7M+23.2%	$8.4M+22.1%	$7.1M+23.8%	$8.8M+67.1%	$7.0M+25.8%
Gross Profit	$21.0M-4.1%	$20.3M-18.5%	$22.5M+3.4%	$24.6M+17.3%	$21.9M-51.9%	$24.9M+15.8%	$21.7M+10.6%	$20.9M+2.6%
R&D Expenses	$7.6M-22.4%	$8.4M-18.2%	$8.9M+3.2%	$9.7M+0.1%	$9.8M-13.1%	$10.2M-20.9%	$8.7M-32.0%	$9.7M-20.9%
SG&A Expenses	$17.8M+6.8%	$15.0M+14.9%	$15.2M+21.0%	$14.6M+13.8%	$16.6M+29.2%	$13.1M+1.0%	$12.5M-5.3%	$12.8M-7.0%
Operating Income	-$5.2Mn/m	-$4.0M-708.5%	-$2.5Mn/m	-$613Kn/m	-$5.4M-125.1%	$659Kn/m	-$322Kn/m	-$2.5Mn/m
EBITDA	-$3.1Mn/m	-$1.9M-167.9%	-$398K-119.8%	$1.5Mn/m	-$3.2M-113.8%	$2.8Mn/m	$2.0Mn/m	-$293Kn/m
Interest Expense	$864K-1.7%	$855K-3.0%	$882K-1.6%	$884K-1.2%	$879K-0.6%	$881K-0.3%	$896K+8.5%	$895K+376.1%
Income Tax	-$611K-135.1%	$527Kn/m	$707K+1040.3%	$2.3Mn/m	$1.7M-86.9%	-$81K-122.0%	$62Kn/m	-$9.5M-219.5%
Net Income	-$5.3Mn/m	-$5.2M-2208.9%	-$3.7Mn/m	-$3.4M-151.5%	-$7.6M-202.8%	$247Kn/m	-$786Kn/m	$6.7Mn/m
EPS (Basic)	-$0.37n/m	-$0.36-1900.0%	-$0.26n/m	-$0.25-152.1%	-$0.53-201.9%	$0.02n/m	-$0.06n/m	$0.48n/m
EPS (Diluted)	-$0.37n/m	-$0.36-1900.0%	-$0.26n/m	-$0.25-152.1%	-$0.53-201.9%	$0.02n/m	-$0.06n/m	$0.48n/m
Diluted Shares (Avg)	14M+0.8%	14M+0.7%	14M+0.9%	N/A	14M+0.7%	14M+1.1%	14M+0.9%	N/A

SRDX Balance Sheet

SRDX quarterly balance sheet

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Total Assets	$178.6M-3.9%	$185.7M+17.3%	$158.4M-18.6%	$194.6M+15.3%	$168.8M+5.6%	$159.9M-2.6%	$164.1M+20.2%	$136.6M+2.8%	$132.9M+34.6%	$98.7M-5.9%	$104.9M+2.9%	$101.9M-2.3%	$104.3M-33.5%	$156.8M-7.9%	$170.3M
Current Assets	$81.3M-6.2%	$86.7M+50.5%	$57.6M-18.0%	$70.3M-18.9%	$86.6M+6.4%	$81.4M-0.1%	$81.5M+33.9%	$60.9M+4.0%	$58.6M-13.6%	$67.8M+22.6%	$55.3M+54.5%	$35.8M-10.5%	$40.0M-26.8%	$54.6M+45.7%	$37.5M
Cash & Equivalents	$36.1M-12.8%	$41.4M+118.0%	$19.0M-39.0%	$31.2M+1.2%	$30.8M+1.4%	$30.4M+30.2%	$23.3M+41.0%	$16.5M-33.8%	$25.0M-55.0%	$55.6M+27.8%	$43.5M+180.8%	$15.5M-0.3%	$15.5M-33.1%	$23.2M+103.8%	$11.4M
Short-Term Investments	$4.0M+1.6%	$3.9Mn/m	$0-100.0%	$7.7M-74.5%	$30.3M+21.6%	$24.9M-39.7%	$41.4M+30.0%	$31.8M+44.9%	$22.0Mn/m	$0-100.0%	$3.0M-70.2%	$10.2M-27.7%	$14.1M+15.8%	$12.2M+33.9%	$9.1M
Inventory	$15.2M+2.2%	$14.8M+25.6%	$11.8M+74.8%	$6.8M+13.3%	$6.0M+32.5%	$4.5M+12.1%	$4.0M+14.2%	$3.5M-1.8%	$3.6M+20.1%	$3.0M+5.8%	$2.8M-15.4%	$3.3M-5.6%	$3.5M+10.8%	$3.2M+4.4%	$3.0M
Accounts Receivable	$13.3M+22.5%	$10.8M+3.8%	$10.5M+14.0%	$9.2M+19.5%	$7.7M-14.7%	$9.0M+1.3%	$8.9M+23.1%	$7.2M+5.0%	$6.9M-8.1%	$7.5M+57.4%	$4.8M-10.9%	$5.3M+5.2%	$5.1M+15.6%	$4.4M-51.2%	$9.0M
Long-Term Investments	$0n/m	$0n/m	$0-100.0%	$2.0Mn/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0-100.0%	$16.8M-48.1%	$32.4M+13.9%	$28.4M-4.4%	$29.8M-10.3%	$33.2M
Goodwill	$44.6M+3.9%	$42.9M+5.5%	$40.7M-10.7%	$45.6M+67.8%	$27.2M+3.9%	$26.2M-3.2%	$27.0M-0.9%	$27.3M+2.7%	$26.6M+231.5%	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M
Total Liabilities	$59.7M-9.4%	$65.8M+31.7%	$50.0M-8.3%	$54.5M+44.6%	$37.7M+1.0%	$37.3M-32.7%	$55.5M+121.8%	$25.0M-3.9%	$26.1M+281.2%	$6.8M+11.4%	$6.1M-24.3%	$8.1M-13.1%	$9.3M-45.7%	$17.2M+7.9%	$15.9M
Current Liabilities	$20.5M-14.2%	$24.0M-25.3%	$32.1M+7.6%	$29.8M+57.8%	$18.9M-6.5%	$20.2M-42.5%	$35.1M+258.4%	$9.8M-3.3%	$10.1M+115.6%	$4.7M+15.6%	$4.1M-31.9%	$6.0M-13.4%	$6.9M-37.5%	$11.0M+44.4%	$7.6M
Non-Current Liabilities	$39.1M-6.6%	$41.9M+134.1%	$17.9M-27.6%	$24.7M+31.2%	$18.8M+9.8%	$17.1M-15.9%	$20.4M+33.9%	$15.2M-4.4%	$15.9M+645.3%	$2.1M+3.2%	$2.1M-2.8%	$2.1M-12.4%	$2.4M-60.4%	$6.1M-25.9%	$8.3M
Long-Term Debt	$29.6M+0.5%	$29.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0n/m	$0	N/A	N/A	N/A	N/A
Total Equity	$118.9M-0.8%	$119.9M+10.6%	$108.4M-22.6%	$140.1M+6.9%	$131.1M+7.0%	$122.5M+12.8%	$108.6M-2.6%	$111.6M+4.4%	$106.8M+16.3%	$91.9M-7.0%	$98.8M+5.3%	$93.8M-1.2%	$95.0M-32.6%	$140.9M-9.5%	$155.6M
Retained Earnings	$75.7M-13.2%	$87.3M-1.7%	$88.8M-23.5%	$116.1M+3.8%	$111.8M+1.0%	$110.7M+13.4%	$97.6M-4.4%	$102.1M+4.0%	$98.1M+11.3%	$88.2M-6.1%	$93.9M+3.1%	$91.0M+20.0%	$75.9M+17.8%	$64.4M-22.3%	$82.9M

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Total Assets	$169.8M-4.3%	$163.2M-10.7%	$163.7M-9.2%	$178.6M-3.9%	$177.4M-6.1%	$182.8M+10.0%	$180.2M+6.2%	$185.7M+17.3%
Current Assets	$76.0M-5.4%	$71.7M-14.9%	$71.8M-10.0%	$81.3M-6.2%	$80.4M-6.4%	$84.3M+37.6%	$79.8M+23.8%	$86.7M+50.5%
Cash & Equivalents	$26.3M+8.1%	$29.2M-11.6%	$30.1M+29.1%	$36.1M-12.8%	$24.3M-45.5%	$33.0M+72.2%	$23.4M-11.6%	$41.4M+118.0%
Short-Term Investments	$6.4M-53.5%	$2.0M-75.2%	$0-100.0%	$4.0M+1.6%	$13.9Mn/m	$7.9Mn/m	$11.8Mn/m	$3.9Mn/m
Inventory	$15.8M+2.3%	$16.1M+4.3%	$15.3M+5.7%	$15.2M+2.2%	$15.4M+5.4%	$15.4M+11.9%	$14.4M+13.5%	$14.8M+25.6%
Accounts Receivable	$13.2M-1.7%	$11.6M-5.9%	$12.6M-2.8%	$13.3M+22.5%	$13.4M+13.9%	$12.3M+1.6%	$12.9M+28.3%	$10.8M+3.8%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Goodwill	$46.3M+6.8%	$43.7M+0.2%	$42.4M-4.2%	$44.6M+3.9%	$43.4M-1.1%	$43.6M-0.6%	$44.3M+2.3%	$42.9M+5.5%
Total Liabilities	$58.5M-1.3%	$53.0M-10.0%	$52.0M-10.5%	$59.7M-9.4%	$59.3M-22.5%	$58.9M-7.5%	$58.1M-7.0%	$65.8M+31.7%
Current Liabilities	$19.4M-3.7%	$13.9M-27.3%	$13.2M-20.0%	$20.5M-14.2%	$20.2M-37.0%	$19.2M+0.4%	$16.5M-4.6%	$24.0M-25.3%
Non-Current Liabilities	$39.1M0.0%	$39.0M-1.6%	$38.8M-6.8%	$39.1M-6.6%	$39.1M-12.1%	$39.7M-10.8%	$41.6M-8.0%	$41.9M+134.1%
Long-Term Debt	$29.7M+0.5%	$29.6M+0.5%	$29.6M+0.5%	$29.6M+0.5%	$29.5M+0.6%	$29.5M+0.6%	$29.4M-0.2%	$29.4M
Total Equity	$111.3M-5.8%	$110.2M-11.1%	$111.8M-8.5%	$118.9M-0.8%	$118.1M+5.1%	$124.0M+20.9%	$122.2M+13.9%	$119.9M+10.6%
Retained Earnings	$61.5M-22.3%	$66.9M-22.9%	$72.1M-16.7%	$75.7M-13.2%	$79.2M-1.7%	$86.7M+18.4%	$86.5M+6.8%	$87.3M-1.7%

SRDX Cash Flow Statement

SRDX quarterly cash flow statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Operating Cash Flow	-$1.9M	$248K-97.6%	$10.5Mn/m	-$17.2M-211.9%	$15.4M+9.8%	$14.0M+74.3%	$8.0M-76.4%	$34.1M+142.3%	$14.1M-44.2%	$25.2M+67.0%	$15.1M-18.7%	$18.5M+4.3%	$17.8M+0.9%	$17.6M-23.0%	$22.9M+1.9%	$22.5M
Depreciation & Amortization	N/A	$8.7M+2.0%	$8.5M-6.8%	$9.1M+14.0%	$8.0M+10.4%	$7.3M-0.7%	$7.3M+13.7%	$6.4M+15.8%	$5.6M+14.0%	$4.9M+73.7%	$2.8M+3.3%	$2.7M-5.9%	$2.9M-1.5%	$2.9M-7.3%	$3.2M-12.7%	$3.6M
Stock-Based Compensation	N/A	$8.2M+8.0%	$7.6M+7.8%	$7.1M+20.4%	$5.9M+7.5%	$5.5M+7.4%	$5.1M+5.6%	$4.8M+38.5%	$3.5M-9.7%	$3.8M+61.4%	$2.4M-28.6%	$3.3M+30.8%	$2.6M-4.5%	$2.7M-26.8%	$3.6M-20.4%	$4.6M
Capital Expenditures	$1.7M	$3.5M+19.7%	$2.9M-13.4%	$3.4M-36.2%	$5.3M+43.8%	$3.7M-38.8%	$6.0M-34.0%	$9.1M+41.4%	$6.4M-21.5%	$8.2M+336.4%	$1.9M-17.6%	$2.3M+18.7%	$1.9M+151.5%	$763K-50.8%	$1.6M-44.2%	$2.8M
Free Cash Flow	-$3.5M	-$3.2M-142.7%	$7.6Mn/m	-$20.6M-303.7%	$10.1M-2.2%	$10.3M+406.8%	$2.0M-91.8%	$25.0M+227.5%	$7.6M-55.1%	$17.0M+28.7%	$13.2M-18.9%	$16.3M+2.5%	$15.9M-5.9%	$16.9M-21.0%	$21.3M+8.4%	$19.7M
Investing Cash Flow	$5.9M	-$2.9Mn/m	-$6.8M-209.5%	$6.2Mn/m	-$25.2Mn/m	-$9.1M-192.9%	$9.8Mn/m	-$23.5Mn/m	-$16.2Mn/m	-$55.5M	N/A	N/A	N/A	$29.6Mn/m	-$11.6Mn/m	-$20.9M
Financing Cash Flow	-$2.7M	-$3.0M-116.0%	$18.4Mn/m	-$375K-103.7%	$10.2Mn/m	-$4.6Mn/m	-$11.0Mn/m	-$3.4Mn/m	-$6.5Mn/m	-$199K	N/A	N/A	N/A	-$54.9M-10462.5%	$530Kn/m	-$1.8M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$4.7M	N/A	$20.0M+59.4%	$12.5M-29.5%	$17.8M-67.6%	$55.0M	N/A	$2.0M

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Operating Cash Flow	$1.4Mn/m	$949K-87.2%	-$7.9Mn/m	$3.7M+192.6%	-$2.0M-107.9%	$7.4Mn/m	-$8.8Mn/m	$1.3Mn/m
Depreciation & Amortization	$2.1M-1.1%	$2.1M+2.1%	$2.1M-10.7%	$2.1M-0.8%	$2.1M-1.2%	$2.1M+0.2%	$2.3M+9.9%	$2.2M-3.7%
Stock-Based Compensation	$1.3M-34.3%	$1.4M-35.8%	$1.7M-11.4%	N/A	$2.0M+6.7%	$2.1M+19.3%	$2.0M+0.2%	N/A
Capital Expenditures	$501K-47.8%	$319K-74.9%	$302K-58.1%	$542K-27.5%	$959K+104.0%	$1.3M+75.8%	$720K-26.3%	$748K+30.8%
Free Cash Flow	$904Kn/m	$630K-89.7%	-$8.2Mn/m	$3.1M+520.7%	-$3.0M-111.8%	$6.1Mn/m	-$9.5Mn/m	$502Kn/m
Investing Cash Flow	-$4.9Mn/m	-$2.3M-181.5%	$3.7Mn/m	$9.5Mn/m	-$6.7Mn/m	$2.8Mn/m	-$8.5Mn/m	-$4.7M-425.8%
Financing Cash Flow	-$29K-143.9%	$48Kn/m	-$1.2Mn/m	-$1.6M-472.8%	$66Kn/m	-$405Kn/m	-$1.0M-105.6%	$419K+40.6%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

SRDX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SRDX quarterly financial ratios

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Gross Margin	73.8%-7.4pp	81.2%+1.5pp	79.7%-4.0pp	83.7%-0.2pp	83.9%-2.5pp	86.4%+3.6pp	82.8%-1.6pp	84.4%-0.3pp	84.7%-1.4pp	86.1%0.0pp	86.0%+0.1pp	85.9%+0.2pp	85.7%-1.5pp	87.2%-0.3pp	87.5%
Operating Margin	-4.5%-8.4pp	3.9%+26.0pp	-22.1%-28.5pp	6.4%+7.7pp	-1.3%-7.8pp	6.5%+17.3pp	-10.8%-20.5pp	9.7%-13.9pp	23.6%-7.2pp	30.8%-1.5pp	32.3%-1.2pp	33.5%+2.1pp	31.5%+2.0pp	29.4%+7.4pp	22.0%
Net Margin	-9.2%-8.0pp	-1.2%+26.1pp	-27.3%-31.3pp	4.0%+2.9pp	1.2%-6.4pp	7.6%+13.1pp	-5.5%-10.8pp	5.4%-8.6pp	14.0%-5.3pp	19.3%-1.6pp	20.9%-6.1pp	27.0%+7.3pp	19.7%+54.8pp	-35.1%+3.6pp	-38.7%
Return on Equity	-9.7%-8.4pp	-1.3%+23.9pp	-25.2%-28.2pp	3.0%+2.2pp	0.9%-5.3pp	6.2%+10.3pp	-4.1%-7.6pp	3.5%-5.8pp	9.3%-3.7pp	13.0%+0.8pp	12.2%-4.0pp	16.2%+5.4pp	10.8%+23.9pp	-13.1%+0.4pp	-13.6%
Return on Assets	-6.5%-5.6pp	-0.8%+16.4pp	-17.2%-19.4pp	2.2%+1.5pp	0.7%-4.1pp	4.8%+7.5pp	-2.7%-5.6pp	2.9%-4.6pp	7.5%-4.6pp	12.1%+0.6pp	11.5%-3.4pp	14.9%+5.1pp	9.8%+21.6pp	-11.8%+0.6pp	-12.4%
Current Ratio	3.96+0.3x	3.62+1.8x	1.80-0.6x	2.36-2.2x	4.58+0.6x	4.03+1.7x	2.32-3.9x	6.21+0.4x	5.78-8.6x	14.42+0.8x	13.59+7.6x	5.99+0.2x	5.79+0.8x	4.940.0x	4.90
Debt-to-Equity	0.250.0x	0.25	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.000.0x	0.00	N/A	N/A	N/A	N/A
Liabilities-to-Equity	0.500.0x	0.55+0.1x	0.46+0.1x	0.39+0.1x	0.290.0x	0.30-0.2x	0.51+0.3x	0.220.0x	0.24+0.2x	0.070.0x	0.060.0x	0.090.0x	0.100.0x	0.120.0x	0.10
Asset Turnover	0.710.0x	0.71+0.1x	0.63+0.1x	0.540.0x	0.56-0.1x	0.63+0.1x	0.500.0x	0.540.0x	0.54-0.1x	0.63+0.1x	0.550.0x	0.55+0.1x	0.50+0.2x	0.340.0x	0.32
FCF Margin	-2.6%-8.3pp	5.7%+26.3pp	-20.6%-30.2pp	9.6%-1.3pp	10.9%+8.9pp	2.0%-28.6pp	30.7%+20.3pp	10.4%-13.4pp	23.8%+2.5pp	21.3%-7.0pp	28.3%+0.1pp	28.3%-4.2pp	32.5%-8.0pp	40.5%+4.3pp	36.1%

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Gross Margin	71.0%-1.2pp	72.1%-5.7pp	75.2%+4.0pp	73.9%-0.9pp	72.2%-14.6pp	77.8%-1.1pp	71.2%-7.7pp	74.8%-3.6pp
Operating Margin	-17.7%0.0pp	-14.3%-16.3pp	-8.3%-7.2pp	-1.8%+6.9pp	-17.7%-58.5pp	2.1%+26.3pp	-1.1%+27.9pp	-8.8%+16.7pp
Net Margin	-18.0%+6.9pp	-18.6%-19.3pp	-12.2%-9.6pp	-10.4%-34.3pp	-24.9%-38.9pp	0.8%+29.2pp	-2.6%+28.9pp	23.9%+80.6pp
Return on Equity	-4.8%+1.6pp	-4.7%-4.9pp	-3.3%-2.6pp	-2.9%-8.5pp	-6.4%-12.9pp	0.2%+7.7pp	-0.6%+6.7pp	5.6%+19.2pp
Return on Assets	-3.1%+1.1pp	-3.2%-3.3pp	-2.2%-1.8pp	-1.9%-5.5pp	-4.3%-8.1pp	0.1%+4.8pp	-0.4%+4.2pp	3.6%+12.9pp
Current Ratio	3.91-0.1x	5.14+0.8x	5.45+0.6x	3.96+0.3x	3.98+1.3x	4.39+1.2x	4.84+1.1x	3.62+1.8x
Debt-to-Equity	0.270.0x	0.270.0x	0.260.0x	0.250.0x	0.250.0x	0.240.0x	0.240.0x	0.25
Liabilities-to-Equity	0.530.0x	0.480.0x	0.470.0x	0.500.0x	0.50-0.2x	0.47-0.1x	0.48-0.1x	0.55+0.1x
Asset Turnover	0.170.0x	0.170.0x	0.180.0x	0.190.0x	0.17-0.1x	0.170.0x	0.170.0x	0.150.0x
FCF Margin	3.1%+12.9pp	2.2%-17.0pp	-27.4%+3.7pp	9.4%+7.6pp	-9.9%-58.3pp	19.2%+43.3pp	-31.1%+16.1pp	1.8%+13.6pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Surmodics, Inc. SRDX	FY2024	$126.1M	-$11.5M	-9.2%	N/A	—
Bioventus Inc. BVS	FY2025	$568.1M	$22.7M	4.0%	$1.0B	41/100
Varex Imaging Corporation VREX	FY2025	$844.6M	-$70.3M	-8.3%	$783.0M	36/100
OrthoPediatrics Corp. KIDS	FY2025	$236.3M	-$39.6M	-16.8%	$823.0M	57/100

Where Surmodics, Inc. Ranks

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 loss of $17.6M over the trailing 12 months to June 30, 2025. In fiscal year 2024 it reported a net loss of $11.5M, with a net profit margin of -9.2%.

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 return on equity (ROE)?

Surmodics, Inc. (SRDX) has a return on equity of -9.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Surmodics, Inc.'s free cash flow?

Surmodics, Inc. (SRDX) recorded an outflow of $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. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is Surmodics, Inc.'s liabilities-to-equity ratio?

Surmodics, Inc. (SRDX) had a liabilities-to-equity ratio of 0.50 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-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 to 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) reported a net loss of $11.5M while generating $248K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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) reported an operating loss of $5.6M against $3.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.