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]

Financial Data and Key Metrics Changes - The company reported revenue of $66 million for Q3 FY24, representing an 8% year-over-year growth, with med tech segment growth of nearly 13% and med device segment growth of 5% [10][20] - Adjusted net loss for Q3 FY24 was $6.5 million, or adjusted loss per share of $0.16, compared to an adjusted net loss of $5.4 million or adjusted loss per share of $0.14 in the same quarter last year [26] - GAAP net loss for Q3 FY24 was $190.4 million, including a goodwill impairment charge of $159.5 million [27] Business Line Data and Key Metrics Changes - Med tech revenue was $25.7 million, a 12.6% year-over-year increase, while med device revenue was $40.3 million, growing 5.2% compared to Q3 FY23 [20] - Auryon platform contributed $11.8 million in revenue during Q3, growing 14.7% year-over-year [21] - NanoKnife disposable revenue increased 19.8% year-over-year, with capital sales growing 230.9% [22] Market Data and Key Metrics Changes - International business grew approximately 21% year-over-year, with med tech growing 53% and med device growing 7% [16] - The company expects to initiate a limited launch of AlphaVac for pulmonary embolism treatment by the end of Q4 FY24, with a full launch scheduled for Q1 FY25 [12][13] Company Strategy and Development Direction - The company is focused on optimizing its portfolio, having divested its PICC and midline product portfolios for up to $45 million, with $30 million received in Q3 [17] - The transition to a fully outsourced manufacturing model is underway, expected to generate approximately $15 million in annualized savings starting in FY26 [18][24] - The company aims to drive growth from key med tech platforms while expanding margins and moving towards profitability [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth strategy, highlighting the FDA clearance for AlphaVac as a significant milestone [12] - The company anticipates FY24 revenue in the range of $270 million to $275 million, reflecting the impact of recent divestitures [32] - Management noted that there are no significant market changes affecting guidance, maintaining a consistent outlook despite operational transitions [42] Other Important Information - The company has zero debt compared to $50 million a year ago, significantly strengthening its balance sheet [28][30] - A settlement agreement with BD Bard was reached, resolving over a decade of IP litigation, providing clarity and allowing the company to focus on growth [31] Q&A Session Summary Question: When will data from the APEX trial be available? - Management indicated that data will be released at upcoming trade shows and through publications from principal investigators [36] Question: What are the rollout plans for AlphaVac in PE? - The company has prepared its sales force and will conduct a limited market release followed by a larger launch [48] Question: Will there be any changes in guidance due to recent divestitures? - Management confirmed that guidance remains consistent, reflecting the divestiture's impact without significant market changes [42] Question: What is the pricing strategy for AlphaVac? - The expected price for AlphaVac is around $9,000 [60] Question: How is the NanoKnife performing and when will PRESERVE data be available? - The NanoKnife is seeing strong growth, particularly in prostate treatments, with data from the PRESERVE study expected to be published following the 12-month follow-up [62]

Exhibit 99.1 PRESS RELEASE Investor Contact: AngioDynamics, Inc. Stephen Trowbridge, Executive Vice President & CFO (518) 795-1408 AngioDynamics Reports Fiscal Year 2024 Third Quarter Financial Results; Updates Fiscal Year 2024 Guidance to Reflect Asset Divestiture Fiscal Year 2024 Third Quarter Highlights • Completed the sale of its PICC and Midline product portfolios to Spectrum Vascular on February 15, 2024 o Discontinued its Uniblate and Starburst RadioFrequency products, as well as its Syntrax support ...

AngioDynamics, Inc. (ANGO) recently announced that it has entered into a settlement agreement with Becton, Dickinson and Company (BDX) , popularly known as BD, to resolve all outstanding patent litigation with C.R. Bard, Inc., an affiliate of BD.AngioDynamics is likely to benefit from the settlement of this prolonged legal dispute to a successful resolution as it will lower the company’s ongoing legal expenses and terminate more than 10-year distraction.Price PerformanceFor the past six months, ANGO’s share ...

LATHAM, N.Y.--(BUSINESS WIRE)--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 patient quality of life, today announced that it will report financial results for the third quarter of fiscal year 2024 before the market open on Thursday, April 4, 2024. The Company’s management will host a conference call at 8:00 a.m. ET the same day to discuss the ...

Company Performance - AngioDynamics' stock closed at $5.37, reflecting a decrease of -0.74% from the previous trading day, which is less than the S&P 500's daily loss of 0.65% [1] - The stock has declined by 12.32% over the past month, underperforming the Medical sector's gain of 1.98% and the S&P 500's gain of 3.27% [1] - The upcoming earnings report is expected to show an EPS of -$0.14, a significant drop of 366.67% from the same quarter last year, with projected quarterly revenue of $76.71 million, down 4.96% year-over-year [1] Annual Projections - For the full year, earnings are projected at -$0.43 per share and revenue at $316.15 million, indicating changes of -616.67% and -6.67% respectively from the prior year [2] - Recent analyst estimate revisions are crucial as they reflect near-term business trends, with positive revisions indicating confidence in the company's performance [2] Zacks Rank and Industry Performance - AngioDynamics currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having decreased by 10.9% in the past month [3] - The Medical - Instruments industry, part of the Medical sector, has a Zacks Industry Rank of 56, placing it in the top 23% of over 250 industries [3] - The Zacks Industry Rank evaluates the strength of industry groups, showing that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [3]

AngioDynamics (ANGO) closed at $5.67 in the latest trading session, marking a -1.39% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.65% for the day. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 1.16%.The the stock of medical device maker has fallen by 6.5% in the past month, lagging the Medical sector's gain of 3.18% and the S&P 500's gain of 3.4%.The investment community will be paying close attention to th ...