Private company

SURMODICS INC

American surgical and medical instruments and apparatus company.

Last updated Oct 18, 2026.

Overview

$126.1MRevenue, fiscal 2024²

-$11.5MNet income, fiscal 2024²

IndustrySurgical & Medical Instruments & Apparatus
HeadquartersEden Prairie, United States
Incorporated inMN³
Business address9924 W 74Th St, Eden Prairie, Mn 55344³
Filer categoryAccelerated filer³

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-4.5%Operating margin²

-9.2%Net margin²

-4.9%Revenue growth, 2024²

-9.7%Return on equity²

0.25×Debt to equity²

-$3.2MFree cash flow²

Where the money goes

Where each dollar of revenue went, fiscal 2024

Cost of revenueSelling, general and adminOther costs

Cost of revenue26¢$33.0M
Selling, general and admin45¢$56.8M
Other costs26¢$32.2M
Income tax3¢$4.0M

Out of $126.1M in revenue.² The company lost money this year.

Where each dollar of operating cash went, fiscal 2024

Capital spending

Capital spending100¢$3.5M

Out of $248.0K of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.²

Financial statements

Revenue⁴⁵⁶⁷⁸²$126.1M in 2024+72% since 2017

Operating income⁴⁵⁶⁷⁸²-$5.6M in 2024

Net income⁴⁵⁶⁷⁸²-$11.5M in 2024

Fiscal year	2017	2018	2019	2020	2021	2022	2023	2024
Revenue	$73.1M⁴	$81.3M⁵	$100.1M⁶	$94.9M⁷	$105.1M⁸	$100.0M²	$132.6M²	$126.1M²
Cost of revenue	$11.4M⁴	$14.0M⁵	$13.6M⁶	$15.3M⁷	$17.2M⁸	$20.3M²	$25.0M²	$33.0M²
Research and development	$31.8M¹²	$41.0M¹²
Selling, general and admin	$20.5M⁴	$24.1M⁵	$23.9M⁶	$28.4M⁷	$30.7M⁸	$46.9M²	$51.9M²	$56.8M²
Operating income	$7.1M⁴	-$8.8M⁵	$6.5M⁶	-$1.3M⁷	$6.7M⁸	-$22.1M²	$5.2M²	-$5.6M²
Interest			$152.0K⁶	$133.0K⁷	$310.0K⁸	$598.0K⁸	$3.5M⁸
Income tax	$3.1M⁴	-$3.1M⁵	-$34.0K⁶	-$2.6M⁷	$2.1M⁸	$4.8M²	$4.0M²	$4.0M²
Net income	$3.9M⁴	-$4.5M⁵	$7.6M⁶	$1.1M⁷	$4.2M⁸	-$27.3M²	-$1.5M²	-$11.5M²
Earnings per share	$0.30⁴	-$0.34⁵	$0.57⁶	$0.08⁷	$0.31⁸	-$1.96²	-$0.11²	-$0.82²
Earnings per share (diluted)	$0.29⁴	-$0.34⁵	$0.55⁶	$0.08⁷	$0.30⁸	-$1.96²	-$0.11²	-$0.82²

Total assets¹²⁴⁵⁶⁷⁸²$178.6M in 2024+31% since 2017

Total liabilities¹²⁴⁵⁶⁷⁸²$59.7M in 2024+138% since 2017

Shareholders’ equity⁵⁶⁷⁸²$118.9M in 2024+7% since 2017

Cash¹²⁴⁵⁶⁷⁸²$36.1M in 2024+118% since 2017

Long-term debt²$29.6M in 2024+1% since 2023

Fiscal year	2017	2018	2019	2020	2021	2022	2023	2024
Cash	$16.5M¹²	$23.3M⁴	$30.4M⁵	$30.8M⁶	$31.2M⁷	$19.0M⁸	$41.4M²	$36.1M²
Current assets	$60.9M¹²	$81.5M⁴	$81.4M⁵	$86.6M⁶	$70.3M⁷	$57.6M⁸	$86.7M²	$81.3M²
Total assets	$136.6M¹²	$164.1M⁴	$159.9M⁵	$168.8M⁶	$194.6M⁷	$158.4M⁸	$185.7M²	$178.6M²
Current liabilities	$9.8M¹²	$35.1M⁴	$20.2M⁵	$18.9M⁶	$29.8M⁷	$32.1M⁸	$24.0M²	$20.5M²
Long-term debt							$29.4M²	$29.6M²
Total liabilities	$25.0M¹²	$55.5M⁴	$37.3M⁵	$37.7M⁶	$54.5M⁷	$50.0M⁸	$65.8M²	$59.7M²
Shareholders’ equity	$111.6M⁵	$108.6M⁶	$122.5M⁷	$131.1M⁸	$140.1M²	$108.4M²	$119.9M²	$118.9M²
Shares outstanding	13.1M shares¹³	13.4M shares¹²	13.5M shares⁴	13.7M shares⁵	13.9M shares⁶	14.0M shares⁷	14.2M shares⁸	14.3M shares²

Cash from operations⁴⁵⁶⁷⁸²$248.0K in 2024−98% since 2017

Capital spending⁴⁵⁶⁷⁸²$3.5M in 2024−46% since 2017

Free cash flow⁴⁵⁶⁷⁸²-$3.2M in 2024

Fiscal year	2017	2018	2019	2020	2021	2022	2023	2024
Cash from operations	$14.1M⁴	$34.1M⁵	$8.0M⁶	$14.0M⁷	$15.4M⁸	-$17.2M²	$10.5M²	$248.0K²
Capital spending	$6.4M⁴	$9.1M⁵	$6.0M⁶	$3.7M⁷	$5.3M⁸	$3.4M²	$2.9M²	$3.5M²
Free cash flow	$7.6M	$25.0M	$2.0M	$10.3M	$10.1M	-$20.6M	$7.6M	-$3.2M
Share buybacks	$4.7M⁴

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Leadership

Who has led SURMODICS INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Chief financial officer

Chief operating officer

2010201520202025

Chief executive officerPhilip D. Ankeny Jun 30, 2010 to Dec 2, 2010¹⁴
Chief executive officerGary R. Maharaj Dec 29, 2010 to now¹⁵
Chief executive officerBruce Barclay Nov 14, 2006 to Feb 10, 2010¹⁶
PresidentGary R. Maharaj Dec 29, 2010 to now¹⁵
PresidentBruce Barclay Mar 22, 2006 to Feb 10, 2010¹⁷
Chief financial officerAndrew D. C. Lafrence Feb 13, 2013 to Nov 30, 2017¹⁸
Chief financial officerTimothy J. Arens Dec 2, 2011 to Feb 13, 2013¹⁹
Chief financial officerPhilip D. Ankeny Mar 23, 2006 to Dec 2, 2010²⁰
Chief operating officerThomas A. Greaney Nov 30, 2017 to Nov 27, 2019²¹
Chief operating officerBruce Barclay Mar 22, 2006 to Mar 22, 2006¹⁷

Board members and other officers (42)

VP, Clinical AffairsNusrath Sultana Feb 11, 2020 to Feb 14, 2022²²
Sr. VP of Legal, GC and Sec.Gordon S. Weber May 14, 2020 to now²³
Corporate ControllerJohn D. Manders Jun 1, 2018 to now²⁴
Senior VP and CMOTeri Woodwick Sides Nov 9, 2018 to now²⁵
VP of Research and DevelopmentGregg S. Sutton Jan 19, 2016 to Dec 2, 2019²⁶
Principal Accounting OfficerAmy E. Seibert Apr 30, 2015 to May 2, 2016²⁷
VP of OperationsThomas A. Greaney Dec 7, 2015 to Dec 2, 2016²⁸
VP, ManufacturingEugene C. Rusch Mar 17, 2010 to Dec 2, 2010²⁹
VP, Corp Dev & Strat PlanningJoseph J. Stich Mar 17, 2010 to now³⁰
General Manager - IVDTimothy J. Arens Dec 2, 2010 to Apr 16, 2018³¹
TreasurerMark A. Lehman May 21, 2008 to Nov 20, 2014³²
Vice PresidentArthur J. Tipton Aug 2, 2007 to Dec 2, 2010³³
Dep. Gen. Counsel & Corp. Sec.Bryan K. Phillips Oct 10, 2007 to Dec 2, 2019³⁴
Vice President, HRJan M. Webster Jan 19, 2006 to Dec 2, 2010³⁵
VP & Genl Mgr-Regen TechLise W. Duran Feb 3, 2006 to Feb 10, 2010³⁶
Vice President and ControllerLoren R. Miller Feb 3, 2006 to Aug 15, 2007³⁷
Vice PresidentMichael J. Shoup Mar 20, 2006 to Feb 10, 2010³⁸
VP & Chief Scientific OfficerAron B. Anderson Mar 22, 2006 to Feb 10, 2010³⁹
VP & Genl Mgr-Hydroph TechCharles W. Olson Mar 22, 2006 to now⁴⁰
VP & GM - Drug Del. Bus. UnitDavid S. Wood Mar 22, 2006 to Mar 22, 2006⁴¹
Genl Mgr Diag & Drug DiscoveryDouglas P. Astry Mar 22, 2006 to Feb 10, 2010⁴²
VP/Chief IP Cnsl/GM-New VntrsSteven J. Keough Mar 22, 2006 to Mar 25, 2008⁴³
Vice PresidentBrian L. Robey May 9, 2006 to May 18, 2010⁴⁴
Vice PresidentPeter L. Ginsberg May 17, 2006 to May 21, 2008⁴⁵
Board memberLisa Wipperman Heine Apr 14, 2017 to now⁴⁶
Board memberShawn McCormick Dec 22, 2015 to Feb 18, 2020⁴⁷
Board memberRonald B. Kalich Sr. Feb 19, 2014 to Feb 12, 2024⁴⁸
Board memberTimothy S. Nelson Feb 19, 2014 to Dec 5, 2014⁴⁹
Board memberDavid Dantzker Jan 7, 2011 to now⁵⁰
Board memberScott R. Ward Sep 22, 2010 to Dec 5, 2014⁵¹
Board memberGary R. Maharaj Dec 29, 2010 to now¹⁵
Board memberMary K. Brainerd Feb 4, 2009 to Nov 20, 2013⁵²
Board memberRobert C. Buhrmaster Jan 30, 2008 to Feb 6, 2014⁵³
Board memberSusan E. Knight Jan 30, 2008 to now⁵⁴
Board memberBruce Barclay Nov 14, 2007 to Feb 10, 2010⁵⁵
Board memberDale R. Olseth Sep 14, 2006 to Nov 14, 2007⁵⁶
Board memberGerald B. Fischer Nov 14, 2006 to Dec 5, 2014⁵⁷
Board memberJohn A. Meslow Nov 14, 2006 to Dec 2, 2010⁵⁸
Board memberJohn W. Benson Nov 14, 2006 to Dec 22, 2015⁵⁹
Board memberJose H. Bedoya Nov 14, 2006 to now⁶⁰
Board memberKendrick B. Melrose Nov 14, 2006 to Nov 19, 2008⁶¹
Board memberKenneth H. Keller Nov 14, 2006 to Dec 2, 2010⁶²

Timeline

Dec 29, 2010New chief executive Gary R. Maharaj becomes CEO¹⁵
Jun 30, 2010New chief executive Philip D. Ankeny becomes CEO¹⁴
Nov 14, 2006New chief executive Bruce Barclay becomes CEO¹⁶

Filings

256 filings to the SEC since October 2021: 4 annual reports, 12 quarterly reports, 39 major events, 122 insider forms, 41 large holders, 38 other. The latest 20:

Dec 1, 202515-12G EDGAR
Nov 20, 2025EFFECT EDGAR
Nov 20, 2025SCHEDULE 13G/A EDGAR
Nov 20, 2025SCHEDULE 13D/A EDGAR
Nov 19, 202525-NSE EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 20254 EDGAR
Nov 19, 2025S-8 POS EDGAR
Nov 19, 2025S-8 POS EDGAR
Nov 19, 2025S-8 POS EDGAR
Nov 19, 2025S-8 POS EDGAR

The 256 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 41 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARSURMODICS INC filings on SEC EDGAR
2
SEC EDGARSURMODICS INC 10-K for fiscal 2024
3
SEC EDGARSURMODICS INC filings on SEC EDGAR
4
SEC EDGARSURMODICS INC 10-K for fiscal 2017
5
SEC EDGARSURMODICS INC 10-K for fiscal 2018
6
SEC EDGARSURMODICS INC 10-K for fiscal 2019
7
SEC EDGARSURMODICS INC 10-K for fiscal 2020
8
SEC EDGARSURMODICS INC 10-K for fiscal 2021
9
SEC EDGARSURMODICS INC 10-Q for fiscal 2024
10
SEC EDGARSURMODICS INC 10-Q for fiscal 2025
11
SEC EDGARSURMODICS INC 10-Q for fiscal 2025
12
SEC EDGARSURMODICS INC 10-K for fiscal 2017
13
SEC EDGARSURMODICS INC 10-K for fiscal 2017
14
SEC EDGARPhilip D. Ankeny, Chief executive officer
15
SEC EDGARGary R. Maharaj, Chief executive officer
16
SEC EDGARBruce Barclay, Chief executive officer
17
SEC EDGARBruce Barclay, President
18
SEC EDGARAndrew D. C. Lafrence, Chief financial officer
19
SEC EDGARTimothy J. Arens, Chief financial officer
20
SEC EDGARPhilip D. Ankeny, Chief financial officer
21
SEC EDGARThomas A. Greaney, Chief operating officer
22
SEC EDGARNusrath Sultana, VP, Clinical Affairs
23
SEC EDGARGordon S. Weber, Sr. VP of Legal, GC and Sec.
24
SEC EDGARJohn D. Manders, Corporate Controller
25
SEC EDGARTeri Woodwick Sides, Senior VP and CMO
26
SEC EDGARGregg S. Sutton, VP of Research and Development
27
SEC EDGARAmy E. Seibert, Principal Accounting Officer
28
SEC EDGARThomas A. Greaney, VP of Operations
29
SEC EDGAREugene C. Rusch, VP, Manufacturing
30
SEC EDGARJoseph J. Stich, VP, Corp Dev & Strat Planning
31
SEC EDGARTimothy J. Arens, General Manager - IVD
32
SEC EDGARMark A. Lehman, Treasurer
33
SEC EDGARArthur J. Tipton, Vice President
34
SEC EDGARBryan K. Phillips, Dep. Gen. Counsel & Corp. Sec.
35
SEC EDGARJan M. Webster, Vice President, HR
36
SEC EDGARLise W. Duran, VP & Genl Mgr-Regen Tech
37
SEC EDGARLoren R. Miller, Vice President and Controller
38
SEC EDGARMichael J. Shoup, Vice President
39
SEC EDGARAron B. Anderson, VP & Chief Scientific Officer
40
SEC EDGARCharles W. Olson, VP & Genl Mgr-Hydroph Tech
41
SEC EDGARDavid S. Wood, VP & GM - Drug Del. Bus. Unit
42
SEC EDGARDouglas P. Astry, Genl Mgr Diag & Drug Discovery
43
SEC EDGARSteven J. Keough, VP/Chief IP Cnsl/GM-New Vntrs
44
SEC EDGARBrian L. Robey, Vice President
45
SEC EDGARPeter L. Ginsberg, Vice President
46
SEC EDGARLisa Wipperman Heine, Board member
47
SEC EDGARShawn McCormick, Board member
48
SEC EDGARRonald B. Kalich Sr., Board member
49
SEC EDGARTimothy S. Nelson, Board member
50
SEC EDGARDavid Dantzker, Board member
51
SEC EDGARScott R. Ward, Board member
52
SEC EDGARMary K. Brainerd, Board member
53
SEC EDGARRobert C. Buhrmaster, Board member
54
SEC EDGARSusan E. Knight, Board member
55
SEC EDGARBruce Barclay, Board member
56
SEC EDGARDale R. Olseth, Board member
57
SEC EDGARGerald B. Fischer, Board member
58
SEC EDGARJohn A. Meslow, Board member
59
SEC EDGARJohn W. Benson, Board member
60
SEC EDGARJose H. Bedoya, Board member
61
SEC EDGARKendrick B. Melrose, Board member
62
SEC EDGARKenneth H. Keller, Board member