AngioDynamics, Inc. (ANGO) reported an adjusted loss per share of 6 cents for fourth-quarter fiscal 2024, against the year-ago quarter’s adjusted earnings per share (EPS) of 2 cents per share. However, the metric was narrower than the Zacks Consensus Estimate of a loss of 20 cents per share.On a pro-forma basis (excluding Dialysis and BioSentry businesses, the divested PICC, Midline, and tip location product portfolios and the discontinued RadioFrequency and Syntrax support catheter products), adjusted loss ...

Loading...Loading...Tuesday, AngioDynamics Inc (NASDAQ: ANGO) reported a fourth-quarter 2024 adjusted EPS loss of $0.05, compared to the consensus loss of $0.16.Fourth-quarter sales totaled $70.98 million, beating the analyst consensus of $70.89 million, according to data from Benzinga Pro.Pro forma net sales rose 1.9% to $71.1 million. Med Tech segment net sales were $29.3 million, up 11.3% year over year.Growth was driven by Auryon sales of $13.0 million, which increased 12.0%, NanoKnife disposable sales ...

Financial Data and Key Metrics Changes - Total pro forma worldwide revenue for Q4 FY 2024 was $71.1 million, representing a growth of approximately 2% year-over-year [7] - For the full fiscal year, revenue was $270.7 million, reflecting a growth of 5.3% [9] - Adjusted EBITDA for Q4 FY 2024 was $1.5 million, compared to $1.3 million in Q4 FY 2023 [35] - The company narrowed its adjusted loss per share to $0.05 in Q4 FY 2024 from $0.11 in the prior year [34] Business Line Data and Key Metrics Changes - Med Tech segment revenue grew 11% year-over-year in Q4 FY 2024, driven by Auryon and NanoKnife [7][27] - Med Device segment revenue declined approximately 4% in Q4 FY 2024, primarily due to reorganization impacts [8][31] - Auryon platform contributed $13 million in revenue during Q4, growing 12% compared to last year [28] - NanoKnife disposable revenue increased 18% year-over-year in Q4, with total NanoKnife sales up 30.5% for the full year [30] Market Data and Key Metrics Changes - Med Tech platforms comprised 41% of total revenue in Q4 FY 2024, up from 38% a year ago [27] - The total addressable market (TAM) for Med Tech has expanded from approximately $3 billion to roughly $10 billion since 2021 [10] Company Strategy and Development Direction - The company is focused on pursuing larger and faster-growing Med Tech markets, driving portfolio optimization, and deploying focused resource development [10][16] - The strategic transformation initiated in July 2021 has led to nearly doubling the revenue contribution from the Med Tech portfolio [18] - The transition to a fully outsourced manufacturing model is expected to generate approximately $15 million in annualized savings by fiscal 2027 [21] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the Med Tech business, particularly with upcoming product launches and FDA approvals [41] - The company anticipates revenue for FY 2025 to be in the range of $282 million to $288 million, representing growth of 4.2% to 6.4% [38] - Management highlighted the importance of maintaining a strong balance sheet to support growth initiatives [36] Other Important Information - The company achieved a settlement in a long-standing IP litigation dispute, providing clarity and enabling a focus on innovation [22] - Nearly all products have received updated EU MDR approval, positioning the company well for international expansion [23] Q&A Session Summary Question: Guidance for next year, especially regarding Med Tech growth - Management indicated that some growth from the prostate indication is included in the guidance, but does not expect a significant spike post-indication [45][46] Question: Stability of AngioVac and efforts to maintain it - Management noted that AngioVac's stability is due to its unique design and targeted sales force training [53] Question: Reimbursement efforts for NanoKnife - Management is actively working on reimbursement pathways and expects to achieve significant value from NanoKnife through these efforts [58][60] Question: Differences in commercial strategies between the U.S. and Europe for AlphaVac - Management stated that while the fundamentals are the same, the U.S. market has progressed faster, and extensive training is being provided to the European team [64]

Financial Performance - The company achieved a 5.3% year-over-year (YoY) pro forma revenue growth in FY 2024[3] - Q4 FY 2024 pro forma revenue growth was 11.3%[4] - Med Tech segment gross margin reached 63.3% in FY 2024, compared to 47.7% in FY 2023[5] - Net sales for FY 2024 were $270.7 million, a 10.1% pro forma growth compared to FY 2023[5] - Q4 FY 2024 net sales were $71.1 million, compared to $69.8 million in Q4 2023[4] Strategic Initiatives - The company eliminated $50 million of long-term debt and bolstered the balance sheet[3,22] - The company settled a patent litigation suit with C R Bard[3,23] - The company initiated a shift to outsourced manufacturing, expected to generate $15 million in annual cost savings by FY 2027[3,23] - The company is pursuing larger, faster-growing markets, with Med Tech TAM increasing by 233% to $10 billion[6] Product Performance - AlphaVac sales saw a 68% sequential increase in Q4 2024[3,20] - NanoKnife disposables sales for FY 2024 were $18 million, a 16% YoY growth[21] - NanoKnife capital sales for FY 2024 were $6.5 million, a 100% YoY growth[21]

AngioDynamics (ANGO) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 70%. A quarter ago, it was expected that this medical device maker would post a loss of $0.14 per share when it actually produced a loss of $0.16, delivering a surprise of -14.29%.Over the last four quarters, the company ...

Exhibit 99.1 /namics PRESS RELEASE Investor Contact: AngioDynamics, Inc. Stephen Trowbridge, Executive Vice President & CFO (518) 795-1408 AngioDynamics Reports Fiscal Year 2024 Fourth Quarter and Full-Year Financial Results LATHAM, N.Y.--(BUSINESS WIRE)--Jul. 16, 2024-- AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood flow in the body's vascular system, expanding cancer treatment options, and improving quality of life for patient ...

AngioDynamics, Inc. (ANGO) recently announced the European CE Mark approval for its AlphaVac F1885 System for the non-surgical removal of thrombi or emboli from the pulmonary arteries and the treatment of pulmonary embolism (PE).The application of the AlphaVac F1885 System in the non-surgical excision of thrombi or emboli from the venous vasculature is enhanced by the CE Mark approval, which is likely a significant step forward in improving patient care and safety for endovascular therapies in the EU, a mar ...

Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | |--------------------------------------------------------------------------------------------| | For the transition period from to Commission file number 0-50761 | | AngioD ...

Core Viewpoint - AngioDynamics, Inc. reported a wider-than-expected adjusted loss per share for the third quarter of fiscal 2024, alongside lower revenues compared to the previous year and consensus estimates [1][9]. Financial Performance - The adjusted loss per share for Q3 fiscal 2024 was 16 cents, compared to a loss of 3 cents in the same quarter last year and a consensus estimate of 14 cents [1]. - GAAP loss per share was $4.73, significantly wider than the prior year's loss of 24 cents [1]. - Total revenues for the fiscal third quarter were $75.2 million, down 6.9% year over year, missing the consensus estimate by 1.9% [2]. Pro Forma Analysis - On a pro forma basis, net sales were $65.9 million, reflecting a 7.9% increase year over year [2]. - U.S. net revenues were $62.3 million, down 7.8% year over year, while pro forma U.S. revenues were $55.8 million, up 5.9% [3]. - International revenues were $12.8 million, down 1.9% year over year, with pro forma international revenues at $10.2 million, up 20.8% [3]. Segment Performance - Med Tech revenues for Q3 were $25.8 million, up 12.9% year over year, driven by strong sales of Auryon and NanoKnife products [4]. - Med Device revenues totaled $49.3 million, down 14.7% from the previous year, while pro forma revenues were $40.3 million, up 5.2% [5]. Margin and Expense Analysis - Pro forma gross profit increased by 2.2% to $33.7 million, but gross margin contracted by 292 basis points to 51.1% [6]. - Sales and marketing expenses decreased by 1.5% to $23.6 million, while R&D expenses rose by 20.2% to $8.1 million [6]. Cash Position - The company ended Q3 fiscal 2024 with cash and cash equivalents of $78.5 million, an increase from $60.9 million at the end of the previous quarter, and had no debt [7]. Guidance for Fiscal Year 2024 - AngioDynamics revised its fiscal 2024 net sales guidance to $270 million-$275 million, down from the previous estimate of $320 million-$325 million [8]. - The adjusted loss per share is now projected to be between 54 cents and 58 cents, wider than the earlier guidance of 35 cents to 42 cents [8]. Recent Developments - The company received FDA clearance for the AlphaVac F18 System for treating pulmonary embolism, which may positively impact future performance [10].

Company Developments - AngioDynamics, Inc. (ANGO) received FDA 510(k) clearance for its AlphaVac F1885 System, which is now indicated for the treatment of pulmonary embolism (PE) [1] - The AlphaVac F1885 System is designed for non-surgical excision of thrombi or emboli from the venous vasculature, enhancing therapy options for PE patients [1][4] - The APEX-AV Study, which enrolled 122 patients, demonstrated the system's efficacy in reducing clot burden and improving right ventricular function [5][6] - AngioDynamics has settled patent litigation with Becton, Dickinson and Company, which is expected to reduce legal expenses and distractions for the company [9] Financial Performance - Over the past six months, ANGO's shares have decreased by 10.5%, while the industry has increased by 20.6% and the S&P 500 has gained 19.8% [2] Market Insights - The global pulmonary embolism market was valued at $1.65 billion in 2022 and is projected to exceed $3.12 billion by 2030, growing at a rate of 8.3% [8] - The growth of the pulmonary embolism market is driven by increasing cancer prevalence and rising healthcare expenditures [8]