Surmodics, Inc. (SRDX) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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SRDX Revenue Growth
Revenue Breakdown (FY 2024)
SRDX's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
SRDX Revenue Analysis (2013–2024)
As of May 8, 2026, Surmodics, Inc. (SRDX) generated trailing twelve-month (TTM) revenue of $120.8 million, reflecting slight decline in growth of -2.6% year-over-year. The most recent quarter (Q3 2025) recorded $29.6 million in revenue, up 5.3% sequentially.
Looking at the longer-term picture, SRDX's 5-year compound annual growth rate (CAGR) stands at +4.7%, indicating moderate growth over time. The company achieved its highest annual revenue of $132.6 million in 2023.
Revenue diversification analysis shows SRDX's business is primarily driven by Product (58%), Royalties (34%), and Research Development And Other (8%). With over half of revenue concentrated in Product, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including NVCR (+8.5% YoY), ATRC (+15.0% YoY), and ANGO (+7.3% YoY), SRDX has underperformed the peer group in terms of revenue growth. Compare SRDX vs NVCR →
SRDX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SRDXCurrent | $121M | -2.6% | +4.7% | -4.5% | |
 NVCR | $655M | +8.5% | +5.8% | -23.5% | |
 ATRC | $535M | +15.0% | +20.9% | -0.6% | |
 ANGO | $292M | +7.3% | +2.1% | -13.7% | |
 LAKE | $167M | +27.4% | +9.2% | -5.5% | |
 MMSI | $1.5B | +11.2% | +9.5% | 12.2% |
SRDX Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $126.1M | -4.9% | $93.1M | 73.8% | $-5,645,000 | -4.5% |
| 2023 | $132.6M | +32.6% | $61.0M | 46.0% | $5.2M | 3.9% |
| 2022 | $100.0M | -4.9% | $29.0M | 29.0% | $-22,097,000 | -22.1% |
| 2021 | $105.1M | +10.8% | $41.2M | 39.2% | $6.7M | 6.4% |
| 2020 | $94.9M | -5.2% | $29.4M | 30.9% | $-1,251,000 | -1.3% |
| 2019 | $100.1M | +23.0% | $33.6M | 33.5% | $6.5M | 6.5% |
| 2018 | $81.3M | +11.2% | $26.4M | 32.4% | $-8,799,000 | -10.8% |
| 2017 | $73.1M | +2.4% | $29.9M | 40.9% | $7.1M | 9.7% |
| 2016 | $71.4M | +15.3% | $42.0M | 58.8% | $16.9M | 23.6% |
| 2015 | $61.9M | +7.8% | $37.1M | 60.0% | $19.1M | 30.8% |
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Start ComparisonSRDX — Frequently Asked Questions
Quick answers to the most common questions about buying SRDX stock.
Is SRDX's revenue growth accelerating or slowing?
SRDX revenue growth slowed to -2.6%, below the 5-year CAGR of +4.7%. TTM revenue is $121M. The deceleration marks a shift from historical growth rates.
What is SRDX's long-term revenue growth rate?
Surmodics, Inc.'s 5-year revenue CAGR of +4.7% reflects the variable expansion pattern. Current YoY growth of -2.6% is near this long-term average.
How is SRDX's revenue distributed by segment?
SRDX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.