Financial Data and Key Metrics Changes - Revenue for Q1 FY '24 was 0.13, in line with expectations, excluding approximately 25.9 million, a 13.3% year-over-year increase, while Med Device revenue was 6.3 million, down 7.7% from the prior year [13][21] Market Data and Key Metrics Changes - International businesses grew 26% year-over-year, with strong growth from both MedTech and Med Device segments [12] - U.S. disposable growth for NanoKnife was 28%, while international markets saw a 44% growth [35] Company Strategy and Development Direction - The company aims to address treatment gaps in high-growth markets, focusing on cardiovascular disease and cancer [9] - Plans to submit data to the FDA in Q3 2024 to support an expanded indication for NanoKnife to treat prostate tissue [10] - The company is pursuing plans to gain an indication for Auryon to treat coronary artery disease [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of NanoKnife and the mechanical thrombectomy business, highlighting positive physician feedback [11][38] - The company anticipates FY '24 revenue in the range of 333 million, with expected gross margins of 50% to 52% [29][30] Other Important Information - The company revised its annual equity grant practice for non-employee directors, impacting adjusted loss per share for the quarter [26] - Cash and cash equivalents at the end of Q1 FY '24 were 44.6 million at the end of FY '23 [28] Q&A Session Summary Question: Can you break out NanoKnife growth U.S. versus internationally? - U.S. disposable growth was 28%, while international growth was about 44% [35] Question: What is the outlook for AlphaVac growth? - AlphaVac is expected to improve with ongoing clinical studies and design enhancements planned for next year [38] Question: Can you provide an update on Auryon installations? - The company finished the quarter with approximately 415 total lasers in the field, with a focus on driving utilization rather than new system placements [41] Question: What is the sustainability of NanoKnife performance internationally? - The company believes the strong growth is sustainable, supported by training and clinical support for partners [44] Question: How is the company balancing Med Tech growth with cash generation from Med Device? - The company aims to grow its Med Tech segment while maintaining stability from the Med Device segment, which currently provides cash flow [49]
AngioDynamics(ANGO) - 2024 Q1 - Earnings Call Transcript