AngioDynamics (NASDAQ:ANGO) Reports Fiscal Second Quarter Results

Posted by Adam Dyson on Jan 9th, 2025

On January 8, 2025, AngioDynamics, Inc. issued a press release detailing its financial performance for the fiscal second quarter that ended on November 30, 2024. The company reported an array of significant achievements and financial results, reflecting its operational strength and strategic advancements.

The press release included insights into AngioDynamics’ financial status, stating a pro forma revenue growth of 9% year-over-year in the MedTech segment, with specific highlights such as Auryon sales of $13.7 million (a 22% increase year-over-year), AngioVac sales of $8.1 million (a 51% increase year-over-year), and AlphaVac sales of $2.5 million (a 33% increase year-over-year).

Further, AngioDynamics disclosed key clinical, regulatory, and market access milestones, including the reception of CPT Category 1 Codes for Irreversible Electroporation (IRE) and FDA clearance for NanoKnife for prostate tissue treatment. The company also emphasized its shift towards outsourced manufacturing, expecting an annual cost-saving of $15 million by FY 2027.

AngioDynamics highlighted improvements towards profitability, reporting a pro forma Adjusted EBITDA of $3.1 million for the quarter, a substantial enhancement from the prior year. Additionally, the company generated operating cash of $2.5 million and revised its guidance for Med Tech revenue growth and total Company profitability.

Moreover, the company furnished presentation slides as part of Regulation FD disclosure, discussing its operations and financial performance for the fiscal second quarter. AngioDynamics stressed the importance of forward-looking statements, urging investors to recognize the inherent risks and uncertainties associated with such projections.

The document underlined the company’s commitment to transparency and provided a comprehensive snapshot of its financial health, strategic initiatives, and market positioning. The financial report indicated a firm trajectory towards sustained growth and operational efficiency.

Investors and stakeholders are advised to review AngioDynamics’ official SEC filings for a more detailed analysis and reconciliation of the disclosed financial information. The company reiterated that actual results may differ from expected outcomes, emphasizing the volatile nature of market conditions and regulatory landscapes.

This news article is an objective interpretation of AngioDynamics’ recent 8-K SEC Filing and aims to provide clarity regarding the company’s financial performance and strategic direction.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AngioDynamics’s 8K filing here.

About AngioDynamics

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AngioDynamics, Inc, a medical technology company, engages in the design, manufacture, and sale of medical, surgical, and diagnostic devices for the use in treating peripheral vascular disease, and oncology and surgical settings in the United States and internationally. The company offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.