Angiodynamics, Inc. · NASDAQ:ANGO
Angiodynamics — Investor Presentation (November 2014)
28 slides from Angiodynamics's investor presentation, Nov 18, 2014
Slide 1: November 2014 Investor Presentation
November 2014 Joseph M. DeVivo, President & CEO Mark Frost, Executive Vice President & CFO
Slide 2: Forward-Looking Statements
Forward-Looking Statements Notice Regarding Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics’ expected future financial position, results of operations,
Slide 3: Performance Update Q1 FY15 Results
Performance Update Q1 FY15 Results Q1 FY15 Guidance Q1 FY15 Actual $83M-$86M $87.3M $0.08-$0.12 Adjusted Without Amortization $0.16 Adjusted Without Amortization Sales EPS NanoKnife German OPS procedure codes received ANGO Added to S&P SmallCap 600 Index Celerity U.S. launch & expanded use filing Bi
Slide 4: Profile of AngioDynamics
Profile of AngioDynamics Global, leading provider of innovative, image guided, minimally invasive solutions. Three Franchises – Peripheral Vascular, Vascular Access and Oncology/Surgery Founded 1988 | IPO May 2004—ANGO (NASDAQ) Worldwide presence with 1,300 employees and 7 operating locations, as we
Slide 5: Leadership
Leadership Joseph M. DeVivo President & CEO Mark Frost EVP & CFO John Soto EVP & CCO Matthew Kapusta SVP, Business Development Stephen Trowbridge SVP & General Counsel Barbara Kucharczyk VP, Operations Mark Stephens SVP, Administration Gary Barrett VP, RA/QA *
Slide 6: Our Strategy is Working
Our Strategy is Working Quarterly Sales Growth Trend Q4 FY13 Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY15 % 107% Q1 FY15 over Q1 FY14 BioFlo GROWTH 43% Q1 FY15 over Q1 FY14 Microwave Ablation GROWTH 82% Q1 FY15 over Q1 FY14 AngioVac GROWTH Growth Driver Performance * -2% 3% 3% 7% 7% 5% ADSa,b Growth X-BS
Slide 7: AngioDynamics in FY14
AngioDynamics in FY14 RFA Resection NanoKnife Microwave Venous Ports Dialysis PICCs Other Access Core PV Fluid Mgmt Sales Growth Std Gross Margin // 100% AngioVac Harvest Fix/Divest Invest Scale 4% Sales Growth; 51% GM Sales by Franchise Peripheral Vascular: $193M Vascular Access: $106M Oncology/Sur
Slide 8: AngioDynamics in FY20
AngioDynamics in FY20 10% Sales Growth; 60% GM Harvest Fix/Divest Invest Scale Resection Core PV Dialysis NanoKnife AngioVac PICCs Fluid Mgmt Ports Other Access Microwave RFA Venous Sales Growth Std Gross Margin Sales by Franchise Peripheral Vascular: ̴$300M Vascular Access: ̴$200M Oncology/Surgery:
Slide 9: Operational Excellence
Operational Excellence Enterprise resource planning implementation Consolidation of N.Y. distribution center Consolidation of N.Y. manufacturing plants Supply chain optimization Product rationalization Lean initiatives Gross Margin Improvement FY15 FY16 FY17 FY18 Basis Points 100 200 300 400 500
Slide 10: Strong Product Development Pipeline
Strong Product Development Pipeline* PV VA O/S Celerity X-Ray FY15 BioFlo New Product Launch FY16 Celerity Navigation FY16 Next Generation BioFlo Port FY16 Next Generation BioFlo PICC FY16 Next Generation Radio Frequency Ablation System FY17 Next Generation Microwave Ablation FY16 Next Generation Na
Slide 11: Clinical Studies
Clinical Studies* PV O/S SeCure IDE for Expanded EVLT Indication FY18 Pancreas NanoKnife Pre-Clinical FY16 Next Generation Microwave Ablation Pre-Clinical FY15 CROES II NanoKnife Prostate Study FY17 Prostate NanoKnife IDE FY18 O/S NanoKnife Pancreas LEIDEN – NanoKnife Pancreas CROES Registry NEAT –
Slide 12: Peripheral Vascular Franchise FY14
Peripheral Vascular Franchise FY14 Fluid Mgmt. Venous $79 $55 $ in millions $1.6B Market 12% Share Thrombus Mgmt. $14 Other Core Products $45 Total PV $193 YoY Growth -3% 18% 109% 5% 7% PV Quarterly Growth Rates *
Slide 13: Large Unmet Opportunity
Large Unmet Opportunity Additional: Annual Incidence Venous Thromboembolism (VTE) Incidence ~1 Million VTE Events per Year in US ~300,000 VTE Deaths per Year in US - #3 cause Heit JA, et al. Blood. 2005;106:267A. Murphy SL, et al. Deaths: Preliminary Data for 2010. National Vital Statistics Reports;
Slide 14: Solution: AngioVac
Solution: AngioVac FDA cleared & CE Mark approved Attractive pricing & higher margins Scalable platform for next generation devices Newly expanded U.S. indication *
Slide 15: Solution: Laser Vein Treatment
Solution: Laser Vein Treatment 30M People in U.S. w/ varicose veins Large Market Opportunity <2% Receive treatment Projected Growth FY20 Sales ̴$80M FY14 Sales $55M *
Slide 16: Endovenous Ablation vs. Chemical
Endovenous Ablation vs. Chemical Endovenous ablation is proven to offer better outcomes with fewer complications, without the use of chemicals and with no residual material left in the body. VenaCure EVLT System Short-term occlusion rate Long-term occlusion rate DVT rate Dedicated CPT code Healthcar
Slide 17: Vascular Access Franchise FY14
Vascular Access Franchise FY14 PICCs Ports $51 $32 $ in millions Dialysis $19 Total VA $106 $1.0B Market 11% Share YoY Growth 0% 3% -2% 0% VA Quarterly Growth Rates Q1 FY14 Q2 FY14 Q3 FY14 Q4 FY14 Q1 FY15 *
Slide 18: BioFlo Technology
BioFlo Technology The BioFlo family of products, including PICCs, ports and dialysis catheters, are the only vascular access products manufactured with Endexo Technology, a permanent and non-eluting integral polymer. Less Thrombus Accumulation BioFlo PICCs BioFlo Ports Vs. common PICC Vs. non-coated
Slide 19: Reducing Healthcare Costs
Reducing Healthcare Costs Facility 1 1,251 BioFlo PICCs placed 85% reduction in symptomatic UEDVT 7 UEDVTs reported from 1251 PICCs UEDVT rate of .45% versus prior 3.1% Facility 2 272 BioFlo PICCs placed 42% reduction in Occlusions 19.7% reduction in baseline occlusion rate Facility 3 776 BioFlo PIC
Slide 20: Celerity Tip Location
Celerity Tip Location Tip location, coupled with our innovative BioFlo Technology, will improve our competitive position in the PICC market. Ease of use Use with existing ultrasound Three lead EKG-based platform Predictable and reliable confirmation 50% less cost vs. competitors Clinical efficacy Co
Slide 21: Oncology/Surgery Franchise FY14
Oncology/Surgery Franchise FY14 Thermal Ablation NanoKnife $30 $14 $ in millions Resection/Other $5 Total O/S $49 $225M Market 22% Share YoY Growth 10% 6% -18% 5% O/S Quarterly Growth Rates *
Slide 22: Expanding Leadership in Tissue Ablation
Expanding Leadership in Tissue Ablation THERMAL NON-THERMAL AngioDynamics offers a full complement of tissue ablation products that provide clinicians maximum choice in treating patients. *
Slide 23: International Growth Strategy
International Growth Strategy Market Led, Efficient & Aligned Region-based business model improves competitiveness Increased direct market expansion New product introductions and full registration of product portfolio Delivering operating margin improvement Align talent and organization to ensure co
Slide 24: AngioDynamics Transformation
AngioDynamics Transformation FY11 FY12 FY13 FY14 FY15a Net Sales $216M $222M $342M $354M $365M Pro Forma 0% 3% -1%b 4% 3% FY15 revenue guidance midpoint. Exc. BSC – 5% 4% On a pro forma basis prior year sales for AngioDynamics and Navilyst Medical were $344.6 million. Investor Profile – – Major acqu
Slide 25: Fiscal First Quarter Results & Guidance
Fiscal First Quarter Results & Guidance There is no difference in the number of sales days between the first quarter of fiscal 2014 and the first quarter of fiscal 2015. Adjusted results exclude costs relating to acquisitions, debt financing, business restructuring, litigation, facility consolidatio
Slide 26: Appendix
Appendix >) angiodynamics
Slide 27: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow $ in millions Aug 31, 2014 May 31, 2014 Cash & investments $15.5 $17.9 Net working capital $90.6 $83.0 Total assets $796.1 $798.9 Total debt $141.4 $142.7 Total stockholder’s equity $539.7 $536.8 $ in millions, except per share amounts 3 months ended Aug 31, 2014 3 Months e
Slide 28: Adjusted Income Statement
Adjusted Income Statement(a) $ in millions, except per share amounts 3 months ended Aug 31, 2014 3 Months ended Aug 31, 2013 Sales $87.3 $83.6 Gross margins 52.5% 50.9% Operating expenses $35.1 $34.3 Operating income $10.7 $8.2 Operating margin 12.3% 9.9% Net income $5.7 $4.0 EPS $0.16 $0.11 EBITDA
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