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AngioDynamics(ANGO) - 2025 Q3 - Quarterly Results
ANGOAngioDynamics(ANGO)2025-04-02 11:23

Financial Performance - Pro forma net sales for Q3 FY2025 were 72.0million,representinga9.272.0 million, representing a 9.2% increase year-over-year[3] - Adjusted EBITDA for Q3 FY2025 was 1.3 million, compared to a loss of 3.6millioninQ3FY2024[13]−ThecompanyrecordedaGAAPnetlossof3.6 million in Q3 FY2024[13] - The company recorded a GAAP net loss of 4.4 million, or a loss per share of (0.11)inQ3FY2025[12]−ForthethreemonthsendedFebruary28,2025,Angiodynamicsreportedanetlossof(0.11) in Q3 FY2025[12] - For the three months ended February 28, 2025, Angiodynamics reported a net loss of 4,407,000 compared to a net loss of 187,736,000forthesameperiodin2024[35]−AdjustednetincomeforthethreemonthsendedFebruary28,2025,was187,736,000 for the same period in 2024[35] - Adjusted net income for the three months ended February 28, 2025, was 1,167,000, while for the same period in 2024, it was a loss of 6,279,000[35]−ThenetlossforthethreemonthsendedFebruary28,2025,was6,279,000[35] - The net loss for the three months ended February 28, 2025, was 4,407 thousand, compared to a net loss of 187,736thousandforthesameperiodin2024[32]−ThenetlossfortheninemonthsendedFebruary28,2025,was187,736 thousand for the same period in 2024[32] - The net loss for the nine months ended February 28, 2025, was 27,943 thousand, compared to a net loss of 170,900thousandforthesameperiodin2024[34]−Thecompanyreportedabasiclosspershareof170,900 thousand for the same period in 2024[34] - The company reported a basic loss per share of 0.68 for the nine months ended February 28, 2025, compared to a loss per share of 4.26forthesameperiodin2024[34]SalesandRevenue−MedTechnetsalesreached4.26 for the same period in 2024[34] Sales and Revenue - Med Tech net sales reached 31.3 million, a 22.2% increase from 25.7millionintheprior−yearperiod[8]−ThecompanyexpectsFY2025netsalestobeintherangeof25.7 million in the prior-year period[8] - The company expects FY2025 net sales to be in the range of 285 to 288million,reflectinggrowthof5.3288 million, reflecting growth of 5.3% to 6.4% over FY2024[21] - Med Tech net sales growth guidance for FY2025 has been increased to 14% to 16% from the previous 12% to 15%[21] - Net sales for the three months ended February 28, 2025, were 72,004,000, a decrease of 4.2% compared to 75,182,000forthesameperiodin2024[48]−MedTechsegmentreportednetsalesof75,182,000 for the same period in 2024[48] - Med Tech segment reported net sales of 31,341,000, representing a growth of 21.3% from 25,844,000intheprioryear[48]−MedDevicesegmentexperiencedadeclineinnetsalesto25,844,000 in the prior year[48] - Med Device segment experienced a decline in net sales to 40,663,000, down 17.6% from 49,338,000year−over−year[48]−FortheninemonthsendedFebruary28,2025,netsaleswere49,338,000 year-over-year[48] - For the nine months ended February 28, 2025, net sales were 212,340 thousand, a decrease of 8.9% from 232,934thousandforthesameperiodin2024[34]−TheMedTechsegment′snine−monthnetsaleswere232,934 thousand for the same period in 2024[34] - The Med Tech segment's nine-month net sales were 90,863,000, reflecting a growth of 17.9% compared to 77,068,000inthepreviousyear[52]ProfitabilityandMargins−GrossmarginforQ3FY2025was54.077,068,000 in the previous year[52] Profitability and Margins - Gross margin for Q3 FY2025 was 54.0%, up 290 basis points compared to Q3 FY2024[11] - Gross profit margin improved to 54.0% for the three months ended February 28, 2025, compared to 47.7% for the same period in 2024[32] - Gross profit for the Med Tech segment was 19,588,000, with a gross profit margin of 62.5%, compared to 15,857,000and61.415,857,000 and 61.4% in the previous year[50] - Total gross profit for the three months ended February 28, 2025, was 38,857,000, an increase of 8.4% from 35,861,000inthesameperiodlastyear[50]−GrossprofitmarginfortheninemonthsendedFebruary28,2025,was54.435,861,000 in the same period last year[50] - Gross profit margin for the nine months ended February 28, 2025, was 54.4%, compared to 49.9% for the same period in 2024[34] Expenses and Cost Management - Research and development expenses for the three months ended February 28, 2025, were 6,913 thousand, down from 8,189thousandinthesameperiodlastyear,reflectingadecreaseof15.68,189 thousand in the same period last year, reflecting a decrease of 15.6%[32] - Total operating expenses for the nine months ended February 28, 2025, were 149,814 thousand, significantly lower than 348,668thousandforthesameperiodin2024[34]−Thecompanyincurredacquisition,restructuring,andotheritemstotaling348,668 thousand for the same period in 2024[34] - The company incurred acquisition, restructuring, and other items totaling 3,286,000 for the three months ended February 28, 2025, down from 35,367,000inthesameperiodin2024[43]−Thecompanyreporteddepreciationandamortizationexpensesof35,367,000 in the same period in 2024[43] - The company reported depreciation and amortization expenses of 6.319 million for the three months ended February 28, 2025, compared to 7.522millionforthesameperiodlastyear[58]−Stock−basedcompensationforthethreemonthsendedFebruary28,2025,was7.522 million for the same period last year[58] - Stock-based compensation for the three months ended February 28, 2025, was 2,398,000, compared to 2,612,000forthesameperiodin2024[37]CashFlowandAssets−Cashandcashequivalentsdecreasedto2,612,000 for the same period in 2024[37] Cash Flow and Assets - Cash and cash equivalents decreased to 44,760,000 from 76,056,000inthepreviousperiod[56]−Currentliabilitieswerereportedat76,056,000 in the previous period[56] - Current liabilities were reported at 77,971,000, a decrease from 91,155,000inthepriorperiod[56]−Cashflowsfromoperatingactivitiesresultedinanetcashusedof91,155,000 in the prior period[56] - Cash flows from operating activities resulted in a net cash used of 13.159 million for the three months ended February 28, 2025, compared to 12.526millionforthesameperiodlastyear[58]−Netcashprovidedbyfinancingactivitieswas12.526 million for the same period last year[58] - Net cash provided by financing activities was 7.147 million for the three months ended February 28, 2025, compared to 694thousandforthesameperiodlastyear[58]−Thecompanyhadanetcashusedininvestingactivitiesof694 thousand for the same period last year[58] - The company had a net cash used in investing activities of 3.189 million for the three months ended February 28, 2025, compared to a net cash provided of 29.404millionforthesameperiodlastyear[58]−Thecompanyreportedtotalassetsof29.404 million for the same period last year[58] - The company reported total assets of 285,415,000 as of February 28, 2025, down from $317,671,000 as of May 31, 2024[56] Strategic Initiatives - The company is focused on strategic initiatives to enhance product development and market expansion, particularly in response to competitive pressures and regulatory challenges[30] - The company initiated the AMBITION BTK RCT to evaluate the Auryon Atherectomy System for treating critical limb ischemia[16] - The NanoKnife System received FDA clearance for prostate tissue ablation, with a pivotal study showing 84% of men free from significant disease at 12 months[18]