Surmodics, Inc. (SRDX) Financial Statements (2024 and earlier)

Company Profile

Business Address 9924 W 74TH ST
EDEN PRAIRIE, MN 55344
State of Incorp. MN
Fiscal Year End September 30
Industry (SIC) 3841 - Surgical and Medical Instruments and Apparatus (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
12/31/2022
MRQ
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments26,43018,99831,15330,78530,36123,318
Cash and cash equivalents26,43018,99831,15330,78530,36123,318
Short-term investments      
Restricted cash and investments      350
Receivables10,18912,89011,08110,0669,55110,029
Inventory, net of allowances, customer advances and progress billings12,72411,8196,7605,9664,5014,016
Inventory12,72411,8196,7605,9664,5014,016
Prepaid expense3,8092,5701,712   
Other undisclosed current assets11,31011,31019,54939,79137,00743,814
Total current assets:64,46257,58770,25586,60881,42081,527
Noncurrent Assets
Property, plant and equipment27,71727,14830,09030,10329,74830,143
Intangible assets, net (including goodwill)72,57068,85582,66040,46840,39744,715
Goodwill43,30840,71045,60627,18526,17127,032
Intangible assets, net (excluding goodwill)29,26228,14537,05413,28314,22617,683
Deferred income tax assets   5,8677,315 
Other noncurrent assets5,0064,7693,7184,2692,1241,446
Other undisclosed noncurrent assets   2,002 6,1766,304
Total noncurrent assets:105,293100,772124,33782,15578,44582,608
TOTAL ASSETS:169,755158,359194,592168,763159,865164,135
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities9,08317,91915,16813,69211,45614,446
Employee-related liabilities8,9298,4806,6304,5815,635
Accounts payable2,0353,1361,7831,5152,0852,546
Accrued liabilities7,0485,8544,9055,5474,7906,265
Deferred revenue3,7714,1604,6475,2005,553
Debt  10,00010,000   
Business combination, contingent consideration, liability     3,20011,041
Other undisclosed current liabilities4,410    9,646
Total current liabilities:17,26432,07929,81518,89220,20935,133
Noncurrent Liabilities
Long-term debt and lease obligation 29,495     
Long-term debt, excluding current maturities 29,495     
Liabilities, other than long-term debt15,73517,88824,69218,81617,1409,145
Deferred revenue4,1155,08810,30110,79611,628
Deferred income tax liabilities2,1022,0272,742  
Other liabilities9,51810,77311,6498,0205,5125,720
Business combination, contingent consideration, liability      3,425
Other undisclosed noncurrent liabilities     11,247
Total noncurrent liabilities:45,23017,88824,69218,81617,14020,392
Total liabilities:62,49449,96754,50737,70837,34955,525
Equity
Equity, attributable to parent107,261108,392140,085131,055122,516108,610
Common stock706701695684675670
Additional paid in capital30,22428,77421,59815,36910,7407,607
Accumulated other comprehensive income (loss)(4,617)(9,874)1,7273,1743962,718
Retained earnings80,94888,791116,065111,828110,70597,615
Total equity:107,261108,392140,085131,055122,516108,610
TOTAL LIABILITIES AND EQUITY:169,755158,359194,592168,763159,865164,135

Income Statement (P&L) ($ in thousands)

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Revenues101,88199,951105,13694,864100,07781,336
Cost of revenue(25,098)(24,504)(19,973)(17,535)(15,883)(22,266)
Cost of goods and services sold(21,112)(20,342)(17,177)(15,317)(13,639)(13,997)
Gross profit:76,78375,44785,16377,32984,19459,070
Operating expenses(102,668)(97,544)(78,460)(78,580)(77,725)(67,869)
Operating income (loss):(25,885)(22,097)6,703(1,251)6,469(8,799)
Nonoperating income (expense)(1,098)(396)(357)(203)1,0891,267
Investment income, nonoperating245991236561,097851
Gain (loss), foreign currency transaction, before tax(55)103(170)(248)134239
Interest and debt expense(1,288)(598)(310)(133)(152) 
Income (loss) from continuing operations before equity method investments, income taxes:(28,271)(23,091)6,036(1,587)7,406(7,532)
Other undisclosed income from continuing operations before income taxes1,288598310133152 
Income (loss) from continuing operations before income taxes:(26,983)(22,493)6,346(1,454)7,558(7,532)
Income tax expense (benefit)(5,322)(4,781)(2,109)2,577343,075
Income (loss) from continuing operations:(32,305)(27,274)4,2371,1237,592(4,457)
Income (loss) before gain (loss) on sale of properties:(24,462)(27,274)4,2371,1237,592(4,457)
Net income (loss) available to common stockholders, diluted:(32,305)(27,274)4,2371,1237,592(4,457)

Comprehensive Income ($ in thousands)

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Net income (loss):(32,305)(27,274)4,2371,1237,592(4,457)
Other comprehensive income (loss)(4,692)(11,601)(1,447)2,778(2,322)(699)
Comprehensive income (loss), net of tax, attributable to parent:(36,997)(38,875)2,7903,9015,270(5,156)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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