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AngioDynamics Reports Fiscal Year 2025 First Quarter Financial Results
LATHAM, N.Y.--(BUSINESS WIRE)-- AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy
About this update from Angiodynamics, Inc.
[{"type":"text","content":" LATHAM, N.Y.--(BUSINESS WIRE)--\nAngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options, and improving quality of life for patients, today announced financial results for the first quarter of fiscal year 2025, which ended August 31, 2024.\n\nFiscal Year 2025 First Quarter Highlights\n\n\n\n \n\n\n\nQuarter Ended\nAugust 31, 2024\n\n\n\nPro Forma* YoY Growth\n\n\n\n\n\nNet Sales\n\n\n\n$67.5 million\n\n\n\n1.1%\n\n\n\n\n\nMed Tech Net Sales\n\n\n\n$28.0 million\n\n\n\n8.7%\n\n\n\n\n\nMed Device Net Sales\n\n\n\n$39.5 million\n\n\n\n(3.6)%\n\n\n\n\n\nGAAP gross margin of 54.4%\n\n\nGAAP loss per share of $0.31\n\n\nAdjusted loss per share of $0.11\n\n\nSubmitted for FDA 510(k) clearance for Prostate Tissue indication for NanoKnife\n\n\nReceived CE Mark Approval in Europe for the Auryon System\n\n\nInitiated RECOVER-AV Clinical Trial in Europe for AlphaVac\n\n\n*Pro forma results exclude the Dialysis and BioSentry businesses divested in June 2023 and the PICC and Midline product portfolios divested in February 2024, as well as the discontinued Radiofrequency and Syntrax products in February 2024.\n\n\"We are pleased with our strong start to fiscal year 2025, particularly in our Med Tech segment, with Auryon and AlphaVac both delivering over 20% growth in the quarter,\" commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. \"We continue to view 2025 as an inflection point in the trajectory of our business. We expect to continue to deliver strong revenue growth within our Med Tech business as we execute on key commercial initiatives. We remain focused on executing our growth strategy and advancing our innovative product portfolio.\"\n\nFiscal Year 2025 First Quarter Financial Results\n\nUnless otherwise noted, all financial metrics and growth rates presented below are on a pro forma basis.\n\nNet sales for the first quarter of fiscal year 2025 were $67.5 million, an increase of 1.1% compared to the prior-year quarter.\n\nMed Tech net sales were $28.0 million, an 8.7% increase from $25.7 million in the prior-year period. Med Tech includes the Auryon peripheral atherectomy platform, the thrombus management platform, which includes the AlphaVac and AngioVac mechanic...