ANGO - Earnings call transcript Q4 2021

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Operator

Good morning, and welcome to the AngioDynamics Fourth Quarter and Fiscal Year 2021 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference call is being recorded. The news release detailing our fourth quarter and fiscal year 2021 results crossed the wire earlier this morning and is available on the Company's website. the also section live at -- of the begin replay AM is at the www.angiodynamics.com, X:XX same call available at Day webcast Investors be presentation of the the of and site conference shortly being same Time. today's over broadcast internet and at after This the will Investor time Technology call Eastern Company's will website which

including Mr. the course I'd and those including establish discuss begin, listeners filings to will the may that this uses Company's as GAAP. also differ The during over the insight of forward-looking not believes in accordance Investors to will should the prepared assist measures this or package like underlying non-GAAP to actual A financial to substitute and Company's these investors limitation, conjunction presentation may and available past business in results call, revenue, statements read President financial may performance operational like without slide call. adjusted offering identify Management the as that events, superior Company which performance addition the future during Company's with specific Jim Company's materially time. release we Before earnings margins the that measures statements the section Events the to in conference to review now review website as XX-K, Investors measures AngioDynamics' XXXX these trends events consider Company's Company's and and continue. over factors Officer. and in turn non-GAAP for with operational Forms this and trends operating caution year in is analyzing well financial into Presentations. of SEC, in company expected financial statements. future that measures reporting should the from projections This measures encourages or the results make Management these Clemmer? a or under conference Chief cause Clemmer, morning's I'd and forward-looking gross to Executive goals during the regarding fiscal described discussing on call. call press results certain as XX-Q the for be about with you to the also

Jim Clemmer

you, for joining today for Rob and quarter you fiscal call. Thank AngioDynamics' XXXX good morning, and thank everyone, earnings fourth us

Fiscal continued fourth their 'XX of XXXX passion, AngioDynamics' year entire And Chief Joining presented proud Trowbridge, challenges. will and demonstration Executive performance. number provide me Officer, financial AngioDynamics of quarter and and our team performance that be was FY I unique call our could a perseverance, more not and year Financial on today's is dedication, a who Steve President full a of analysis of Vice detailed guidance. the external for

in than the ended in and with more 'XX that revenue markets. FY people, company disruption growing will our employed During COVID-XX were company. our the customer progress made of pandemic, determined onset on in year the that oriented the the fast AngioDynamics investments we technologies had our a profitable From COVID-XX, drive for growth Despite significant was continually in we focus into technology driven, pandemic, the disrupted by people focused, from maintain the our pre-COVID. disciplined family to large, growth highly we transformation COVID-XX we

poised accelerating to line and our and in development facilitate During investments and year, and drove into FY are FY growth we marketing These growth platforms. initiated strategic 'XX and top in 'XX research sales the growth executed and our investments beyond.

our 'XX. by that that results acute pandemic, into our FY occurred quarter year-over-year are significantly comparisons I I'd impacted our disruption fourth to during particularly like of you Before performance, COVID-XX get the of remind the

growth third of of our the sequential As a quarter this a referring accurate we believe as result, in this our business. morning, momentum is indicator be fiscal current to I'll more also

during procedural million, momentum of are the marketing, broke the Technology an and Tech from even AlphaVac 'XX EPS Med full We of our out our volumes quarter and ended 'XX. while representing basis the in near-term the well drove preparation pandemic. with into as hear fourth development this Device reflecting year-over-year. our of remainder We as mind, completed Auryon, and platforms research adoption XX.X% and we we third of FY Med our million, over you'll cash businesses. our growth COVID forward end mature businesses as investments We during full improvements management. as in building as Mechanical our investments and sequential about to quarter further of performance head fourth we Mechanical Additionally, Day our markets coming the well-positioned Thrombectomy as System, key our quarter on our Med more I'm businesses NanoKnife continued growth believe with Tech are expense year results that for strategic balance we more platforms of representing Investor platforms, certain differentiated normalize FY and including launch of encouraged our results. as our With prioritize by quarter Med our sales that we as be demonstrate year Tech will drive Thrombectomy, revenue and later X% solid the and portfolio morning, strong the of referring $XXX adjusted revenue and continuing to $XX.X growth going in to anticipated in

Diving strategic the we research development focused on adjusted and in platforms marketing, sales made of growth. and $X.XX and in supporting Tech as generated Med our deeper generating and year future we 'XX, and of business million revenue purposeful the FY $X.X into sequential revenue quarter, fiscal $XX.X our performance investments of throughout Auryon in total For the million. Auryon into positive XX the quarter trend quarter. revenue growth FY with within coming million continued our Auryon the $X.X third continued well bringing fourth to as its EPS off

Auryon and expect $XX $XX we grow to of meaningfully 'XX, to FY revenue continue to the generate in range For million. million

evidenced platform the for XX% with of fiscal sequentially full increased growth as growth year-over-year revenue continue XX% quarter performed FY our of 'XX. in We the and number to platform both by strong 'XX fourth the year. in XQ in AngioVac see AngioVac record from procedures

much we morning. discuss Additionally, Day allow we we the are will thrilled detail in of and mechanical clearance segment this later AlphaVac, the venous to about expands device. multipurpose recent during platform thromboembolism serve more our Technology device new market, AngioVac breadth our will will -- which Investor of This XXX(k) of and thrombectomy our be a which larger us the

our sales the sequentially that year-over-year system launch the year XX% thrombectomy in strong probe we continue in focused believe of FY complex, of AngioVac XXXX. circuit current its following and 'XX States. also grow to our NanoKnife toward on AngioVac atrium will We anticipate drive approximately end strong which the inclusive calendar AlphaVac comprise right and will Together, platform, XX% growing growth mechanical fourth anticipated AlphaVac the market. quarter, in United were revenue XX% worldwide sequentially in

is grew well anticipated, quarter U.S. worldwide in main capital XX% strong of a for coming sales result NanoKnife XX% 'XX FY and as generator launch as environment. drivers. positive we're XX% as challenging a two the to year due year-over-year As continued NanoKnife direct quarter declined our sales The in the momentum year-over-year the probe of prior U.S off X.X a in capital the

the toward First, progress our in and continued by expanding platform increased fostered we DIRECT capital improving NanoKnife future. as potential remain that focused second, established investing sales base new anticipate in year; study. and increased strong we probe FY growth We 'XX. the awareness for indications in last environment We the OUS on

noting the as already initiatives supported the in Med we R&D On in a front, are we quarter our plan and starting into that quarter growth current addressable COVID of Tech in faster during internal greater 'XX, strategically results continue have invest to remained investment clearly invest profitability R&D Throughout in balancing to X the as fourth advance the continue expand years, market the and our XX% as development investment. that over spend CAGR portfolio now focus than as to platforms continue markets. past in we to It's FY related grown burner larger, back the see face to the strategically we challenges. of we on pipeline. on the at further well M&A and to our products growing fourth growth worth during

M&A In the expense a strategic we for key management. and we remains strategy, piece capital approach However, our anticipate continuously and opportunities. to growth these tuck-in disciplined the maintaining our monitor and allocation near-term, long-term landscape of

turn this expanded NanoKnife we PRESERVE. our prostate fiscal Turning received progress. to study the of to IDE XXX for to approval the to end prove as from Chief the the excited begin where to benefits cancer to we environment. We're patients at Consistent our prostate our Subsequent patient you end updating study, in year, from seek progress on like our Steve study to Officer are President current and encouraged of Financial I'd execution Trowbridge, active our With call that, the have of fiscal we Executive the quarter, quarter with more review and in Vice by we the look and as FDA clinical DIRECT study our clinical currently pursue for indication. Steve? third detail. the the were NanoKnife forward of over this sites in suffering the XX we overall to

Steve Trowbridge

Jim, good Thanks, morning, and everyone.

the to key our you presentation point the to summarizing associated like I'd Investor on our items begin, I website with quarterly results. Before Relations

results our pandemic mentioned, comparisons our for our significantly Jim particularly year-over-year disruption. by 'XX, related FY the As impacted are COVID-XX fourth quarter

XX.X% sales net increased million. Our year-over-year the FY $XX.X for of 'XX to quarter fourth

growth growth performance growth AngioVac Auryon business, NanoKnife sequential our Device driven Med from Atherectomy Our was Probe strong solid performance, businesses. by continued our and in

in we case we towards we're rate sequential and saw During run a are continued fourth that enter more the trending normalized fiscal encouraged XXXX. improvements as we quarter, volumes,

the XXXX growth business, grew as the two to formerly that Our building a million. VIT contributed $XX.X second in official the clinical commercial fourth impact of million. of million and the driven by fiscal Auryon was total driver platform, quarter the evidence. the Auryon on business, greater products, This in which Auryon remains and year in quarter, increase period launch following $XX.X during our AngioVac, year-over-year which we out revenue was quarter. year-over-year invest momentum generate XXX% for named continued revenue our COVID-XX the infrastructure the growth therapies in prior was and strong third the year important and strength continue saw we build $X.X upon XX.X% key endovascular products to increased Auryon. Total commercial performance

Auryon Jim driven in growth by As generate in X.X% FY in to 'XX, range of versus decline a revenue we $XX year which Access $XX Ports, million. revenue for period, million increased to Vascular expect prior mentioned, the the PICCs. offset

approximately included million related to NHS 'XX As we distribution our through of FY $X discussed, fourth previously order the from quarter of partner. a one-time sales

XX% were in Additionally, the year-over-year two strong impacted our and continued quarter PICCs well many other end both challenging during the disruption continue Hence as groups by and growth were our our Microwave BioSentry by year, and that be fourth in markets weakness suffer increased businesses. to to due to of Midlines NanoKnife offset compared pandemic. was the prior businesses APAC few results the business 'XX product by quarter during a as did COVID. of as our in a region capital driven Oncology increase as Disposable from revenue sales well year-over-year FY COVID-XX tough to relative growth XX.X% comp of as Oncology Revenue lower partially significant not the disposables.

our down our and basis to quarter was Though XXX a due year-ago XX.X%, staffing Auryon points XXX fourth partially by startup costs. pressures income the continued improvement margin of gross to increase for mix. and from sales was was third this points basis FY of an of statement, offset increase fiscal The quarter. 'XX compared sequentially the Moving anticipated an largely

Thrombectomy growth on continue the reduce at strategy margin continue high expand fourth driving during high NanoKnife. over million. gross and to quarter, expect inventory $XX.X margin our of platforms in Mechanical to our We time Auryon, execute will We of tech, that we do ending as

back challenges of Queensbury, in of resulted external we a discussed have pressures market half staffing labor and and half resulted has costs. higher York However, gross several could extend margin and Many in challenges of calendar year the in quarters. next labor New that during companies anticipate through FY staffing continued face the during XXXX This first facility. the our number 'XX, we headwinds manufacturing tight to fully faced have

what In addition, significant of cost pressures experienced be we've inflationary pressures. we've the to freight raw and material we observed beginning believe

material efficiency, team operations that and and opportunities pricing labor dedicated on talented is a have focused and We service analysis. make-versus-buy

discussed, the which factors mix that previously mix FY is Auryon expect net that OBL gross the at will 'XX. the result approximately leverage increased external margin I of our stemming through margin gross and However, we we the 'XX, FY sales drives pace dynamics The mentioned impact pricing XX%. from for

$X.X research to development during the and was fourth sales XX.X% XX.X% $X.X million, million, expense or compared 'XX year-ago. or Our of of FY sales of quarter a

in continue technology We on R&D strategy focused platforms. our disciplined of investment our key driving

For expense R&D $XX.X sales. or the was year, million of XX.X% fiscal

For XX.X% fiscal 'XX million spend year target the XX% sales increased of million, XXXX, representing of FY year-ago. representing to we SG&A expense $XX to $XX.X fourth to XX% to sales anticipate sales. R&D XX.X% similarly a compared quarter for of of

and disruptions general, to SG&A remain $XXX.X related spending or year, million sales. was to in spending COVID sales committed organizations. anticipate FY expense investing technology expense we cash, disciplined control while in For our XX% including ability pleased approximate of XX% our management revenue. of SG&A 'XX XX.X% and our amid the key managing Accordingly, We're our investments with administrative to platforms, to fiscal

mentioned, our increase ongoing improves spend the ongoing the with COVID-XX FY 'XX environment pandemic. in costs ease. 'XX our to we travel with impacted by SG&A expect restrictions reduced as do investments As was travel sales associated along global in and positively We organizations in FY previously

$X.XX the per fourth of of share last million in year. on quarter was adjusted loss of for loss $XXX,XXX an net share compared a the to net or $X.X adjusted FY basis fourth Our 'XX quarter breakeven per or

fourth adjusted year, million compared per of And $X.X share Adjusted benefit the from third $X.X a income fourth quarter per the of as CARES $X.X EBITDA the million, quarter reminder, share adjusted million million of Act. in our a $X.X income FY was included net or fiscal or of to net income $X.XX the of $X.XX FY a For 'XX. 'XX compared quarter was FY to in year-ago. 'XX

was million XXXX. adjusted the EBITDA $XX.X million $XX For compared to year, fiscal in fiscal

generated our Turning cash $XX.X had $XX roughly quarter we debt cash At and we and XX, of in the million cash sheet, cash and during in of XXXX, cash with flow fiscal debt $XX repaid free to equivalents we fourth million million and began balance our in outstanding, million. outstanding million $XX.X the $X.X May equivalents having quarter.

million and the in the FY of range to to earnings research guidance. 'XX net and will will sales in Turning and adjusted We for development share $XXX now that key our of to million anticipate per range we be Med $X.XX $X.XX Tech $XXX and continue full year marketing in sales be as to invest platforms.

Our I'll contemplates Technology the to you financial 'XX, providing of partner. term one over million With approximately We FY morning. our back to longer this X% part look forward $X that, Investor outlook our and with as Jim. turn related NHS later Day to that it line range to growth X% distribution revenue of included top to of through sale guidance time our which

Jim Clemmer

that, Thanks, to the hard and Auryon NanoKnife, progress for key We very the our turn questions. which I'd at the mission. operator back you Day of line we work focused clearance high Eastern am parts this Thrombectomy with these the Steve. in make markets. discuss our our as market members team am to the will we kick I'd the XXX(k) to open growth to of view excited morning. with have Investor to technology made I X:XX strategy AngioVac, recent their like Technology the three With to off to continued as Rob? investments presentation, I other all our AlphaVac at continue again and the our the for platforms, this step Mechanical first expansion in AngioDynamics and of dedication call and say System. portfolio like pleased larger and thank including

Operator

you. And [Operator is with Please first with line Instructions] Matthew your you. coming Thank of Mishan from questions. Thank our KeyBanc. question proceed the

Matthew Mishan

the on guys, questions taking and you and for here. Great the momentum thank congratulations revenue

first type of is for that sense sequentially me, the in? a give of procedures Auryon I you us think growing could

Jim Clemmer

a are the more is It’s in we really that’s be but below users will of more morning. more where our used Jim. will the knee, laser later, above that thought the detail the other think knee as procedures, seeing give Good Matt. we in with that above blend I Hi, been phase. initially the we Matt, comfortable and market

So started I initially Matt. think users with the above knee,

are challenging that do is in seeing the we is knee companies usually and are of Now technology. probably that the trend just they a below what confident other where well. They taking there more getting procedures, it very through one our

that. and So now key trusted in a I really partner think we’re becoming

to are earlier, in and I said knee. seeing, than in the we year below lot due OBLs, closer that the Matt COVID seeing our past OBLs. part also think the delivered we of we’ve above So a the where as are the go we split, What is, care XX-XX blend expected in is the of really a is too more to effect

blend getting favorable we year. back this see more fiscal think the I coming hospital mix, a of to where little will OBL course over

Matthew Mishan

that many through orders X the And you’ve Auryon as increase there this installed -- per linear revenue way to improvement those the out original increase those has quarters ago, already the the device, of sites seen orders to see parse versus Jim, a procedure sequential are of then, initial now you and you’ve the base sales point. that been How -- in X, you’ve site. installed and gotten starting increases are fairly many how at is

Jim Clemmer

the nail head, Matt. you So the hit on

those measuring are effects. all of We

be mature operating way business So this Again, we this marketplace. company. took what start measuring you We up is careful as a asked really is we’re to wanted this. really on exactly within a a

chain moves our sure is on and make we quality we disposable initial need our you catheters. hardware, -- get supply on capital; supply as know the the first, our getting robust, our second So

a Every -- users the Matt, expect now, comfortable and monthly with confident, get we know the right usage a doing time place basis. said. to you laser can now we are new how We we’ve on it we So trend, long to good device. for takes everything a catheter increase

So of about the metrics dozen gave measuring more. us, half you plus we are

are the and business get our ground, are the off metrics great got really the with you people field we But, we mentioned how of back where As this will diligently the supporting in pleased as of really has like Matt, measure growth started, time would long kind we’ve you business we see a this bunch report users. to driver going expect and more, a be for for us. you, we we to a to over to time

Matthew Mishan

I the have in we the inventory to How associated to revenue of about you you mix and versus people scale? before And get generally gross you as Okay. up margin should think Company think Auryon understand if average costs launch. the fact -- think start this, with build about we

Jim Clemmer

you Yes, Steve, if comment? can

Steve Trowbridge

get as to corporate certainly Yes, we overall be Auryon we standard to margins. accretive margin expect scale, Matt, to

is be and that, margin on accretive corporate overall mentioned certainly But is those initially. of profile going head they into we were as the margins. we profile that As with giving business and to up the QX, us margin that going as we’ve trajectory start that the impact we costs really 'XX we to were are you and that overall were exiting we to Auryon expect pleased beyond

Matthew Mishan

year. you look driving wacky AngioVac. does little Comps But what do at like X-year growth acceleration a what think stacked occurred kind if you’re in that? of on question a last an and is of And basis, given for it you quarter last this look AngioVac, seeing are you,

Jim Clemmer

So, things. a of couple

incorporate and into we which XXXX, the launched of feedback the year really If user you AngioVac lot of at design end calendar a of launch. remember, that development of we in that our X.X, XXXX, fall

good got in we Matt. we’ve are momentum pandemic But So confident, the things then as two March. we right launched it, hit are happening,

seeing. using version. more cases great didn’t And they the product product and gain users are We confidence using then have in are more second, outcomes new in as the users the that now it old trying they use the

a of it’s blend both. So

using this our and job in for market, everything to keep And are again users the think to different results they very the why are technology is it. we it, is talking themselves getting try So try and comfortable it more than confidence they in speaking confident often. getting about once

of more using So it combination it’s often. new the a users really both, and users same

Matthew Mishan

Great [ph].

Steve Trowbridge

upcoming to and our will as two AlphaVac one you Matt, see through what morning, really And those AlphaVac Investor will is Day products that are presentation the are AngioVac would add that, see we I excited really And thing this the is, you complementary. launch. more about

so after to cannibalization come AlphaVac. DVT overall products market going are the not from launch we significant play, have are once we but for AngioVac role we both expecting mechanical So we feel of and a the thrombectomy, those side to

And runway then think calendar you there pointed launch we AlphaVac, and question, as that be your see we to we to out towards this as the so year. that of incremental have you earlier with and continued AngioVac with once the great is back half in expect that

Matthew Mishan

to Part forward at X:XX. Okay, great. Look X

Jim Clemmer

Thanks, Matt.

Operator

you. Thank

comes the proceed James. of next your Raymond with Our Bedford questions. Jayson question line from Please with

Jayson Bedford

morning. Good

Just a questions. few I guess

core and Just if in year-end, Wondering, I given attention trends you always on key comment intra-quarter May? your trends. on just the April think could fiscal there’s

Jim Clemmer

Hi, Jason.

had closer we’ve to normal course of the during the that’s those fall talked measuring the we we’re April, were year. of better investors sales you and as during last gave, course off And we watching trends we same-store as of about know looked a the get when our at kind you but year closer, timeline well. As as year to the the we’re May,

it’s and reps So we’ve the metrics we’ve hard tricky. Jayson, metrics, just What to our between from inside really gut talking customers. feel sales held,

normal is assume not are operating what a back would to environment. We we

it’s XXX% normal we alignment, months not in X there a we last the are call or would occurring. as but so, treatment feel close where still as We been is

Jayson Bedford

Okay.

for business? fiscal segment of terms what’s between embedded and the Oncology In guidance Vascular your in Access 'XX, growth Endovascular,

Steve Trowbridge

Yes.

'XX. we for we $XXX wanted million Jayson, to guidance, mentioned, so guiding as Jim So, when revenue are focus FY to million on the we $XXX gave what

coming Auryon, once probes Mechanical You’re to be AngioVac, for to platform is Thrombectomy is in then it’s million for from year-over-year terms Uni-Fuse; as about; talked to XX% as $XX $XX going and AlphaVac, launched XX% the we growth see NanoKnife. as growth million which of well going together,

think business, So it those we are expecting rest X% just to the the growth Tech X% in its with of through. of to coming can range kind of platforms that went I Med hold the you device own, the from segments that for

Jayson Bedford

maybe, Okay. And when capital do all? tough you in makes does had the Nano, lift see turn meaning on you capital just easy for 'XX, comps Steve, comps in this fiscal year, which year at a next

Steve Trowbridge

are So 'XX be we capital planning it flat about to when 'XX, to comes in sales. to

'XX about was in half that’s when the we and not 'XX saw NanoKnife what X.X of surprising, that’s launched So System. we

the similar are be placement Jim getting on that expecting as increased we’ve continued today. as seen from, a running growth trial mentioned 'XX to earlier to are in Jim perspective, that focusing up 'XX to We from the well and installed as but DIRECT base launching expecting see probe and we that mentioned, prostate sales capital roughly then the coming and

Jayson Bedford

then this, if the should business, it? Meaning use missed growth? And XX% the for I apologize big what’s how I baseline Thrombo we growth, is the Okay. but

Jim Clemmer

Yes.

$X end add $XX the you year, then up AngioVac million so right Uni-Fuse. about of in So our ended at or of can the and million around

AlphaVac launch together the to added mechanical section. into that get the are comprising calendar two we thrombectomy towards right end that of those the as then will now. year, So base And

Jayson Bedford

start you, and way Steve do maybe, fiscal think could then just love labor, break on margin. margin -- And to is rate I in increase you costs, helpful. in Auryon would weights exit any lastly for what Is materials, the up raw gross also the between know out gross you then margin on for Okay, 'XX? there the

Steve Trowbridge

Yes.

We are question. at a all It’s looking those great things.

of are the basis And So you COVID 'XX in another range the of that basis do on walk points. freight over to up your points. 'XX, cost, XXX you with seeing, even basis we you pressures you is then Auryon inflationary XXX that costs, the are think start put so. can points our or just from the another When absorption we together including XXX impact if saw

those think inflationary some going keep of are Now pressures into going 'XX. as we we FY head to

lot what from not a different than We are you other a of in situation heard companies.

that year but are of bit as as the So those we inflationary a -- forward. in little accelerate. to there's back north you of going to see a move going We drag be pressure that to pull were pressures exiting XX%, start

So that’s guidance for to approximately where get XX% of our we FY 'XX.

Jayson Bedford

Okay.

exiting the sorry, some exiting, before 'XX exiting weights? these And Steve, or to you were referring 'XX of XX% that’s

Steve Trowbridge

these you before 'XX exiting sorry, weights. accelerating get I’m of some increasing

Jayson Bedford

Okay. But we trend that higher 'XX? throughout does can assume gross -- margin gross fiscal margin

Steve Trowbridge

we what That’s expect.

by that with to seeing. and see to growth expect from that mix other sales you’re be the cost benefits continue we’ve but We inflationary products ramp as mitigated the you these pressures get the that talked about, that’s to going

go XX% are for valleys I you get normal the to full your though. and through year, that the would as peaks you’re see upward full expect targeting to going we trend year have the you the year. So, through as

Jayson Bedford

than Okay. fiscal in boxes 'XX fiscal place 'XX? the that you expectation more in Auryon Is

Jayson Bedford

don’t the 'XX, that in continue to is place more the open we a at will good but expectation right as pace 'XX than up. think going I accounts we are find to

So be continue we to placing boxes. will

similar the to would it way as very 'XX think to be, of in think think of terms I 'XX about right placements.

Jayson Bedford

there. I right, Thanks. will it All leave Okay.

Steve Trowbridge

Jason. Thanks,

Jim Clemmer

Thanks.

Operator

next Please comes questions. Canaccord Bill with Our from with question Genuity. proceed your line Plovanic of the

Bill Plovanic

morning. Good Thanks. Great.

of any around that is on when procedures, do the if you all there and and we works aware detail kind XX% way and procedures, that the if should quarter, Thanks. more get relative impact geographic you given today again color expect you because so your how are irrelative more intra globe It’s little you we of segments. worth nuances a said and not COVID the XXX%, where you’re think XX% of granularity to little are there, the the question Just for a to we May-end kind more could to just be if little quarter. on geographically, give you a look us

Jim Clemmer

saw our or was Europe Sure. was regional In it’s U.S., What region, we the it the call But spots, the last, as at that in pandemic the pockets so, during timeline had Latin at will timeline. U.S. May last you more the were pockets. or saw affected even if of that May we the look days much spotty business other that obviously. Bill, in by the some where I different. earlier year, in the a the XX XX Hey, so, least our very look April, we normalize Jim. But April, normalization in we American we U.S. that of is, U.S. days and have fiscal still at

lot our lot I think U.S., a year. I on business have oncology business Pacific region more we and we’ve bit of procedures a has more. the unstable, maybe the pockets mix in these of we what the see, they we course said in those been Asia a So challenged U.S. of And our in stabilized year Europe the and all in have, APAC during were are are in the hold

expect haven’t at to seen will rate come back back we come the yet that those that point. that or we So the confidence

seeing So that. we are still

we it’s a but to where that, be getting point. you but normal We it’s this good look normal, try give can’t will expect volumes you, I tell to at more at either procedure

Bill Plovanic

you million, math a the Thank higher to -- is end I’m Auryon to on Okay. see something you’re million, then And did million low guiding $XX growth? why we there $XX guidance, little $X.X a wondering range. And are less says you helpful. just that is or above million more would shifting in capital disposable of little terms That’s $X.X you. of the

Jim Clemmer

had great a back we was in it originally launched things expected, we launch. Bill. mix the hospital I also of start in to last question. couple a going we shift the of Remember, this see. to to a mix and September mean product will a year the year. Bill, that tactically we think great the are We Good little

located. matter OBL And right customers our because weren’t. hospitals of So we out serving really had a on the were going gate lot procedures, we’re no OBLs business to are focus where doing of

a so it QX, feel momentum. it from guys had and our be we and that to continue try a as we’ve for I’m what was. that to we range not to strong momentum. there. knew to do will the guidance But try to way sure we if expected the year, good see us we great range given, Let end about happens best good you we hit it’s

Bill Plovanic

seems that the on Okay. signaling three And then lot focused that investments, Medical versus last the the terminology, a question you’re Medical it you’ve is, the new -- made it’s Devices Technology the product lines. with really of

we you in see should a made investments, leverage that those harvesting the to expect earnings? investments model of when into start but flow You’ve terms and of lot and cash

Jim Clemmer

Yes. Fair question.

Bill Plovanic

as And Day can an that Investor maybe question [ph] staple and well. we that’s

Jim Clemmer

answer can it twice. We Yes.

in you the see they little two is a will are We are can to answer see later I our happening investments, we going major morning our give coming again answer what But in talked quick when what areas. about a up soon. we’ve now. you now, mentioned presentation you honestly, When

in technology supporting data meaning collection can areas our First investments new and our that iterations proof we sell we platforms and expanded our into, of are and from product new current portfolio, science. our our is

adding marketing teams. and Second clinical research also onto selling our and

we both are taking. So large two are expenses those

couple categories years, some point, we focus next that the accelerate these we on we At for are So show as operating that are to we accretive will you growth. as in how going those to get start closer, gross are of point profit towards leveraging at that will margin. all

to are Steve? over for. that time profitable categories So the pay investments

Steve Trowbridge

And of R&D out two Those investments, and Bill, our sales laid categories marketing. I think and are perfectly. it Jim then main

Day see opportunities about Peripheral Thrombectomy And there’s Investor will of we Atherectomy, you and long-term Mechanical NanoKnife. presentation, excited platforms. through three think our driver As for products, really growth aspects great those in are medium the we short, platform our the and

to top example. but great of So investments and the a force our right R&D be are we What had. sales support line disciplined, initiatives top as ahead we curve with continue to in sure to make we growth Auryon marketing. that invested there. we we And could make to the line sales the investing mentioned, We with investments, Jim very expect is those growth did drive that certainly

to our and in with AngioVac. do well 'XX as are going as that Auryon AlphaVac to We continue

continue see over from go So R&D as going of investments, and have term, growth you line into medium get expect to those our to leverage but those investments to the you to are drive out long-term. shorter sales platforms we top that the

the I way that’s think So to it. think about

Bill Plovanic

Great. Thank questions. my taking you for

Jim Clemmer

Thanks, Bill.

Operator

would closing I Clemmer? to Mr. Clemmer now for call remarks. like to Mr. turn over the any back

Jim Clemmer

at do deserve of and to dedication tirelessly learning the new employees appreciate X:XX to products our are working on that of mission, Time would new say throughout you and and I Rob. can our our ways the worldwide. all to again thrive, used their this for in thank customers thoughts talented AngioDynamics serve join Eastern the our us our investor they like hands keeping on pandemic, when call the hope Thanks, jobs, and we I for to our your our customers outcomes the caregivers presentation. ways you time morning

made this Our sure quality time. products we and quality team operations had of supply during challenging adequate

and to really of the again efforts your pleased with are morning. result. Rob, thanks this time our We Thanks them. for each

AngioDynamics (ANGO) 13 Jul 212021 Q4 Earnings call transcript