AngioDynamics Stock Up on Q1 Earnings Beat, Y/Y Pro-Forma Sales Rise

Core Insights - AngioDynamics, Inc. reported an adjusted loss per share of 11 cents for Q1 fiscal 2025, an improvement from 12 cents in the same quarter last year and better than the Zacks Consensus Estimate of 15 cents [1] - The company's revenues for the fiscal first quarter totaled $67.5 million, down 14.2% year over year, missing the Zacks Consensus Estimate by 1.5% [3] - The company expects net sales for fiscal 2025 to be between $282 million and $288 million, indicating growth of 4.2-6.4% over the previous fiscal year [9] Financial Performance - Adjusted loss per share was 11 cents, compared to 12 cents in the prior year, and GAAP loss per share was 31 cents, wider than the previous year's EPS of $1.15 [1] - On a pro-forma basis, the GAAP loss per share was 32 cents, wider than 7 cents in the prior-year period [1] - Pro-forma gross profit rose 0.3% year over year to $36.7 million, but pro-forma gross margin contracted by 40 basis points to 54.4% [7] Revenue Breakdown - U.S. net revenues totaled $59.5 million, down 7.6% year over year, while international revenues were $8 million, down 43.9% [4] - Med Tech business net sales were $28 million, reflecting an 8.2% year-over-year increase, primarily driven by strong sales of the Auryon platform [5] - Med Device revenues grossed $39.5 million, down 25.2% from the year-ago period [5][6] Cash Position - AngioDynamics ended Q1 fiscal 2025 with cash and cash equivalents of $55 million, down from $76.1 million at the end of fiscal 2024, and had no debt on its balance sheet [8] Guidance and Outlook - The company reiterated its guidance for fiscal 2025, expecting adjusted loss per share between 38 cents and 42 cents, with a consensus estimate of a loss of 41 cents [9] - Med Tech revenue growth is projected at 10-12%, while Med Device revenue increase is expected to be 1-3% [9] Market Reaction - Following the earnings call, AngioDynamics' shares rose 3.3% in after-market trading [2]