AngioDynamics, Inc. Reports First Quarter Fiscal Year 2025 Financial Results
AngioDynamics, Inc. (NASDAQ: ANGO), a renowned medical technology firm dedicated to enhancing vascular health and cancer treatment options, released its financial results for the first quarter of fiscal year 2025, which concluded on August 31, 2024.
Key Financial Metrics
The following table summarizes the company's financial performance:
| Financial Metric | Q1 FY2025 | Q1 FY2024 | YOY Change | Consensus Estimates | Comparison to Consensus |
|---|---|---|---|---|---|
| Revenue | $67.5 million | Not specified | +1.1% | $67.93 million | Below |
| GAAP EPS | $(0.31) | Not specified | Not specified | $(0.15) | Below |
| Adjusted EPS | $(0.11) | $(0.16) | Improved | Not specified | Not specified |
AngioDynamics reported a slight increase in revenue by 1.1% year-over-year. The GAAP loss per share was higher than expected, amounting to $0.31 compared to the consensus estimate of $0.15. However, the adjusted loss per share improved to $0.11 from $0.16 in the prior year.
Segment Revenue Performance
The revenue performance across major segments is detailed as follows:
| Segment | Q1 FY2025 Revenue | Q1 FY2024 Revenue | YOY Change |
|---|---|---|---|
| Med Tech | $28.0 million | $25.7 million | +8.7% |
| Med Device | $39.5 million | $41.0 million | -3.6% |
The Med Tech segment exhibited robust growth of 8.7%, driven notably by a 24.9% increase in Auryon sales and a 21.1% rise in AlphaVac sales. Conversely, the Med Device segment saw a decline of 3.6%, with the decrease attributed to challenges related to inflationary pressures and transition costs.
Operational Highlights
- Received CE Mark Approval : Granted for the Auryon System in Europe, allowing for broader market access.
- Prostate Tissue Indication : Submitted FDA 510(k) clearance application for the NanoKnife System.
- Clinical Trial Initiation : Launched RECOVER-AV clinical trial in Europe to evaluate the AlphaVac system.
Comments from Company Officers
Jim Clemmer, President and CEO, highlighted the solid performance of the Med Tech segment and reiterated the company’s focus on sustained revenue growth through strategic initiatives. Clemmer emphasized the significance of fiscal year 2025 as a pivotal year for AngioDynamics, with expectations for ongoing advancements within their product portfolio.
Financial Guidance and Stock Movement
For fiscal year 2025, AngioDynamics projects: - Net sales between $282 and $288 million. - Med Tech sales growth of 10% to 12%. - An adjusted EBITDA loss ranging from $2.5 million to breakeven. - A slightly adjusted loss per share range between $0.38 and $0.42.
Following the earnings release, AngioDynamics’ stock observed a commendable rise of 6.6%, reflecting investor confidence in the company’s strategic direction.
This report outlines the crucial financial and operational achievements of AngioDynamics and provides a detailed overview of its strategic outlook for the remainder of fiscal year 2025.
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