Surmodics, Inc. (NASDAQ:SRDX) Q1 2024 Earnings Call Transcript

Our third strategic objective is to continue to enhance and develop and introduce new products and extensions to our existing platform technologies and that’s what we’re doing. So you’re going to see continued expense that’s mostly the timing related matters along with the introduction of new products but that’s really what’s driving that. I would say Gary one of the things that we probably did in Q1 was as we were focused on launching SurVeil are helping Abbott to launch SurVeil and satisfy their demand. We put a lot of our energy and effort and focus and time on SurVeil. Now that we’ve successfully done that we feel that we’ve got that pretty well dialed in but we’ll know more about that as we go through the next couple of quarters we feel more confident and comfortable moving forward and accelerating some of these things that we were probably moving a little bit slower on our case in a little bit slower in the first 13 weeks of the year.

Gary Maharaj: Yes, Mike. Tim hit it on the head. The years divided into four equal quarters and we drive the call at full speed when itself nice freeway and then we have other things if it’s a small country road we slow it down but as Tim said, we have three major product launches coming up the Microcap so pounce LTE and pounce Venous and so expect to see us throttle up and SG&A appropriately not up to P&L but throttle up appropriately in the back half. And then as well R&D is really focused on these launches as we get back into the R&D for the things that just slightly over the horizon that should pick up as well so that’s really what it is.

Mike Matson: Okay, got it. Thank you.

Operator: Thank you. We’ve reached end of our question-and-answer session. And ladies and gentlemen that does conclude today’s teleconference. You may disconnect your lines at this time and have a wonderful day. We thank you for your participation today.