Surmodics, Inc. (NASDAQ:SRDX) Q4 2023 Earnings Conference Call November 8, 2023 8:00 AM ET
Company Participants
Gary Maharaj - President & Chief Executive Officer
Tim Arens - Chief Financial Officer
Conference Call Participants
Brooks O'Neil - Lake Street Capital Markets
Mike Petusky - Barrington Research
Jim Sidoti - Sidoti & Company
Mike Matson - Needham & Company.
Operator
Welcome everyone to Surmodics Fourth Quarter and Fiscal Year 2023 Earnings Call. Please note that this call is being webcast. The webcast is accessible through the Investor Relations section of the Surmodics website at www.surmodics.com, where an audio replay will be archived for future reference. An earnings press release disclosing Surmodics' quarterly and full year results was issued earlier today and is available on the company website as well.
Before we begin, I would like to remind everyone that remarks and responses to your questions on today's call may contain forward-looking statements. These forward-looking statements are covered under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include statements regarding Surmodics' future financial and operating results or other statements that are not historical facts. Please be advised that actual results could differ materially from those stated or implied by Surmodics' forward-looking statements, resulting from certain risks and uncertainties including those described in the company's SEC filings.
Surmodics disclaims any duty to update or revise these forward-looking statements as a result of new information, future events, developments or otherwise. This call also includes reference to non-GAAP measures because Surmodics believes they provide useful information for investors. Today's earnings release contains reconciliation tables to GAAP results.
I would now like to turn the call over to Gary Maharaj, Surmodics' President and Chief Executive Officer. Please go ahead sir.
Gary Maharaj
Thank you, operator. Welcome everyone to our fourth quarter and fiscal year 2023 earnings call. First, let me provide you with a brief overview of what we plan to cover today. I'll start off by discussing our financial performance for the quarter and the full year, followed by an update on our recent operational progress and thoughts on our outlook for fiscal 2024. Tim will then cover our fourth quarter financial performance in greater detail and review our fiscal '24 guidance, which we introduced in our earnings press release today. We'll then open the call for questions.
With that, let's begin with a discussion of our financial performance. In the fourth quarter, we generated total revenue of $28 million, representing 8% year-over-year growth. Our revenue performance exceeded the high end of our guidance range, which implied year-over-year growth of 5% for the fourth quarter due to strong performance in both of our business segments.