AngioDynamics(US:ANGO)2024-07-16 14:35Financial 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]