ANGO - Earnings call 2 2023 | AngioDynamics, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, and welcome to the AngioDynamics Fiscal Year 2023 Second Quarter Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded.

The news release detailing our fiscal 2023 second quarter results crossed the wire earlier this morning and is available on the company's website. This conference call is also being broadcast live over the Internet at the Investors section of the company's website at www.angiodynamics.com, and the webcast replay of the call will be available at the same site approximately 1 hour after the end of today's call.

future would this caution will and conference or statements I the that make gross begin, about trends forward-looking of statements that year course call, regarding well margins we for like adjusted XXXX listeners to during projections expected fiscal Before revenue, including as earnings as events, the continue. company may

which SEC company's identify including, cause results to the you those future and encourages XX-Q may past and factors described review Forms specific the XX-K, limitation, that the without or with differ Management the events in company's the materially statements. filings actual forward-looking to from

review underlying will uses consider believes that the operational with as this superior discuss should in also investors measures over these financial to, time. non-GAAP substitute these prepared call. measures non-GAAP company may to for, these trends Investors measures not analyzing company's establish addition Management as or to assist reporting a during in and in business financial performance GAAP. measures The measures in and certain goals operational accordance

package Investors slide company's call. the of insight A read be under results conference company's with presentation operating press in company's website and This and should section Events Presentations. the during results morning's on this available conjunction into is also discussing performance financial the offering the the release financial

Executive and to like Mr. Chief President now turn I'd Officer. AngioDynamics' to the over Clemmer, Clemmer? call Jim

James Clemmer

for XXXX us Quarter Second you, good Thank and for today Earnings Rob, and Fiscal AngioDynamics everyone, joining morning, Call. thanks

of will and today's provide Trowbridge, financial performance. Chief who Officer, Vice our on Executive quarter Steve President is call me second Joining a detailed analysis Financial AngioDynamics'

Med million, of segment the over results. second our of revenue of X% led of quarter the from about representing our We year-over-year, quarter year. with to growth by last Turning Tech growth XX% over ended $XX.X

clinical initiatives second to our goals. long-term meaningful that as our with we continued support and quarter make strong progress financial pleased results in our performance am I generated

and segment markets. our leading year-over-year investment to commitment Tech AlphaVac and NanoKnife, reflecting drive end by Auryon, in out Med strong ongoing attractive building Our continues technology platforms growth, led to

During share adjusting continuing generated solid strategy we $X.XX, million to and per execution company. quarter, the earnings second the over to of net of delivered of long-term illustrate cash for the fiscal growth of invest our $X

quarters, As recent hospitals are and that locations through to has staffing managing been trend impact procedural the care continue issues volumes. in

improve. are through to we hospitals seeing expected, continue and at that issues, we slowly As but adept these steadily anticipate will more managing this trend become

during Auryon year XX% our million quarter, continued impressive QX. over XX,XXX than $X.X approximately patients date, since launch. its performance more the have growing over and we prior To treated sequentially the growing

which deliverability the additional driver PAD innovations release an in second in coated quarter, year. share further and launch for limited of we ability this During believe market hydrophilic the hydrophilic fiscal demonstrates of our for initiated in innovation plan steerability these our the catheters half to continued customers. a to deliver that for our coating will and improved quarter, Auryon. the release We market the to we This and our commitment a be growth provide full market of

quarter. AlphaVac Our during mechanical was AlphaVac, comprising X% the business, and thrombectomy declined quarter million. AngioVac the for $X.X revenue

FXX performance this very product market quarter. the with following our pleased are We full last release of

meet and expectations track progressing are AlphaVac we Our year. to the our for on plan to launch according is revenue full

to AngioVac, at dynamics work. respect there key are With X

commercial And approach on AlphaVac still anesthesia sales support. and situations requires complex use to same now evolving second, are alternative with and this case choose Staffing challenges customers perfusion, treats our First, bag. and have led AngioVac options. the period during nursing some treatment we AngioVac

globally. growth grew trial. sales disposable U.S. PRESERVE practices strong performance from the saw driven from We by quarter during with urology visibility in NanoKnife stemming increasing Our within strong approximately prostate the XX% the

completed increase over of of our first than from with the physicians more XX prostate treated an During year. QX, QX NanoKnife, XXX cases last up XXX cases and cases quarter prostate in

also thrilled surpassed trial of announce mark I'm have more the clinical to which the that will during halfway in my PRESERVE discuss remarks. in our we enrollment in quarter, later I detail

segment of part an grew Our important Med Device business. X% remains our and

this We segment excellent including key platforms. that enable other be investments, while also business have and teams us product our Med to platforms solid Tech to successful fund leveraging

NanoKnife had a markets disposable capital growing International quarter, sales. strong primarily strong and by driven year-over-year, X%

international contributor strengthen to business and 'XX, as scientific our expand presence. network growth our expect a to global in our sales continues FY positive be We team our

hosted our which exploring second brought our quarter, thought are leaders together the symposium, use science global team the of During our supporting and life technologies. who

markets. effectively data to ability key Generating clinical faster-growing, plays our larger, expand into in a develop addressable platform our technologies role higher-margin Tech and Med

X continue trials, our the of the studies, pancreatic of cancer our study our for to of AlphaVac embolism NanoKnife, for teams treatment with pulmonary on our IDE with and treatment the cancer FXX our study clinical study DIRECT prostate execute including with Our for treatment NanoKnife. APEX PRESERVE our

quarter, alone. to the prostate when focal that for achieved As our estimate effective enrollment radical men total addressed be with We provide and PRESERVE market million by the I compared believe NanoKnife for favorable NanoKnife potential or that We can intermediate of exceed option risk prostatectomy. other noted treatment in that treatment quality-of-life treatment be may focal demonstrate cancer focal in options our U.S. can surpassing outcomes an will important PRESERVE the earlier, midpoint we study milestone disease goals. the an during of $XXX

$X.X pleased receiving particularly from to and pace believe encouraged we We large opportunity of respect by are U.S. the market we alone. feedback technology products be PE, APEX physicians. of APEX with be providing effective prove addressable a billion estimate our can With the unlocking treating that will we use in ease the enrollment in AlphaVac that unique while our to are our an study for treatment in the our that excess of are study, an about

markets APEX disease I solutions the our proprietary highlighted technologies that We and that leveraging addressable total associated discussing state our this strategy technology believe of platforms to and illustration in solutions studies, deliver of PRESERVE clear are targeting. markets. our When a is our attractive

a robust pipeline illustration Our of R&D this. is further

equally Auryon has this believe that versatility and and calcifications example, to the technology For into can soft PAD has disruptive entrant side. device below only and be on atherectomy the venous the potential used Auryon be is treat above knee that restenosis. proven to the hard a We be market. can in-stent treat effective the to

provide as and AlphaVac with large options off-circuit atrium clinicians cases Because partners and can and have potential takes provides of cannula aspiration currently and technology complement with learned to that about the our as offering the effectiveness Auryon, to on-circuit solution right and small we AngioVac this we Auryon's Our complex that vessel portfolio the of sizes capabilities. various DVT treat versatile for vessel well a what options. physician DVTs believe utilizing precision of advantage

patient French from DVT. efforts the a we've opportunity Auryon see Given shifted those development to and versatility vessel the drive Auryon because compelling outcomes AlphaVac we better XX to of the platform, small in advantages

of platform end by of for calendar a solutions targeting the year different treatment would commercial us VTE. modalities a which XXXX, of with give the launch We currently X are portfolio

me are pipeline interventions. We the left a platform We AngioVac action atrium the it believe year of with cases another be for ] technology entering complex unique of has targeting makes by [ effective in of calendar market estimate and safe market solution robust we Let disruptive and the XXXX. to million, that this R&D potential addressable this mechanism that end our opportunities $XXX of share makes you. example atrium and that right

Before Their improve like to at I'd our call continue AngioDynamics persistence success achieving over hard work of patients' to life. as for our essential the commitment the medical turning quality that continued of platforms is team to thank AngioDynamics, to goals. build here we and to leading technology their Steve,

Financial our quarter to President With call to Officer, in to that, Trowbridge, the review more like the I'd Steve Vice and turn Executive Chief over detail.

Stephen Trowbridge

Thanks, good and everyone. morning, Jim,

Before our website items Investor I begin, to our like key Relations on results. the from everyone I'd to presentation the quarterly direct summarizing

Our Tech revenue X.X% continued Auryon, year-over-year increased strength FY including Med quarter Management. second driven to platforms, by in million, our 'XX $XX.X of for NanoKnife the and Thrombus

XX.X% the million, revenue increase, 'XX. Med revenue $XX.X a was was million, quarter second an year-over-year to $XX.X Tech while FY compared Med Device of X.X% of increase

compared quarter, of total to XX% segment composed Med our year revenue revenue of total ago. a the For our Tech XX%

first segment X.X% revenue our 'XX, segment by growth of XX.X% of driven Year-to-date, the X.X%. growth for Med our year-over-year FY Tech and Med Device half revenue of increased

to year last continued in range the We're and on million $XX $XX.X contributed the revenue we million. second a pleased quarter, XX.X% compared platform, platform revenue with Auryon growth during $XX million Our to increase of to track very in of generate full Auryon remain the the year.

As is lasers. our of installed approximately base XXX today,

which When thrombus year-over-year. revenue, 'XX. including declined of includes revenue Unifuse, declined thrombectomy X.X% second AngioVac AlphaVac quarter FY over and the Mechanical X.X% sales management

was to We Physician full the remain for $X for million, AlphaVac features fiscal FXX $X revenue the products, performance AlphaVac our to for FXX the to revenue we AlphaVac track usability, $X.X respect and very including of and generate positive of on with is $X.X the million. and feedback second very to versions. million. be continues quarter remain Year-to-date million with outcomes. pleased AlphaVac revenue year

mentioned was $X decline X.X%. AngioVac that the XX.X% Jim million, a revenue prior of result over $XX.X earlier. X representing a revenue the a in quarter, year-to-date, decline And AngioVac of of was as million the dynamics year

contributor below As to prioritize currently thrombectomy prior by XX%. significant investments I to to platform, this led strategy, our mechanical will grow our thrombectomy XX% mechanical expectation we XX% We of in in growth previously, to platform. a and our continue stated to in growth XXXX, fiscal anticipate AlphaVac, XX% we be expect to

XX.X%. increase our year-over-year, XX.X% year-to-date. of of up grew are awareness the XX.X% drive year-to-date. NanoKnife second continue grew XX.X% disposable sales and platform. increased XX.X% revenue NanoKnife during during disposable disposable NanoKnife the sales grew clinical to Year-to-date, quarter sales the International enrollment up quarter disposables second studies and as XX.X% are U.S. and NanoKnife

Med to Device Turning our segment.

of angiographic growth X.X% Our partially in in an offset was in This all achieved resulting the dialysis segment, increase ports, the segment modest by growth other of for areas quarter. overall. microwave the products, solid declines and

During the Device to Med $X provide our results. chain operational $X.X grown Year-to-date, has we continue million X.X%. quarter, million capacity backlog and as segment strategies supply positive reduced to our from

Moving down the income statement.

Our for increase XX.X%, by XXX the 'XX quarter second year the XX compared from an period sequentially to and ago gross basis of points. QX was up of margin FY points basis

basis XX XXX The points sequentially was year Tech ago our decrease segment by to Auryon but depreciation driven compared increase a margin XX.X%, the installed Med primarily base. for Gross was of increased of QX. period decrease over costs growing basis year-over-year an points from

point Gross XX.X%, margin was strategies, ongoing a the Device driven period, for operational inflationary capacity through Med ago basis our chain and to managed year supply environment. increase compared by our we've XXX the improved as segment

points up QX. were margins gross Device XX Med basis sequentially over

gross partially costs offset by quarter impacted and increased corporate in freight inflation positively in continued raw market, operations consolidated was the These increase product costs. the sales headwinds manufacturing and from by with margin were Our our associated mix. tight in labor material efficiency improvements

a These our XXX increased margin a capacity year-over-year production from basis provided on increase basis, points. quarter, second approximately on the efficiencies in the The of and gross of impact benefit initiatives benefit In versus costs. benefits basis labor a approximately year XX to was mix were period increased points. due offset prior XXX points by basis manufacturing and product the approximately from

basis basis prices XX XXX had approximately raw pressures Inflationary negative on costs an point point in and material freight approximately higher negative impact impact. resulted

roughly and currency Foreign of XX hardware depreciation points headwind. fluctuations reached basis

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

our portfolio. continue disciplined the spend focused investment clinical driving Tech for We technology Med including on key and in our R&D development our platforms, product

still anticipate R&D to to year sales. we XX% XX% the of 'XX, For target full spend FY

of 'XX was sales a of of FY primarily spending to SG&A or our million, XX.X% teams, sales the increase year-over-year investments representing XX.X% second SG&A ago. annualization million $XX.X The sales was in expense in particularly $XX.X for the of year quarter Auryon. driven compared by

For revenue. XX% spend 'XX, SG&A XX% continue to to target FY anticipate to of we

adjusted net FY adjusted or earnings of compared $XXX,XXX the of quarter adjusted share or of per net 'XX the year. for $X.XX was second $X.XX Our an of in second quarter per loss share of $XXX,XXX to last income loss adjusted

FY to $X.X second FY quarter million compared in 'XX. Adjusted EBITDA 'XX of million second the was in quarter the $X.X of

expenditures In placement net $X.X $X.X $X.X activities quarter. cash position the increased in addition from for QX. Capital we million second quarter of end units generated cash $X.X evaluation our of FY in and million the operating by million ] Auryon's 'XX, the and [ from million to totaled were

November of $XX.X in million XX, on As $XX.X to cash cash had in and million equivalents compared May XX, XXXX, we XXXX. cash equivalents cash and

expect cash to by continue cash end flat We where to FY be from 'XX position, the to net is our FY net our debt, of slightly 'XX. which of we exited up

our As a achieve would expectations. of contingent we cash half consideration from for contingent back operating target Auryon, $XX during the 'XX, million. reminder, milestone which This the trigger to aggregate our payment FY revenue consideration of excluded a expect is payment

to our 'XX outlook. Turning FY

well of million our in in to we while range the managing the and guidance platforms invest as We to and 'XX profitability. guidance FY are growth to earnings in sustainable as our adjusted reiterating $X.XX continue million revenue our of key as in also driving Tech full range Med $XXX year $XXX $X.XX cash

I hard medical and work technology want by commitment, the company. as AngioDynamics as my thanking wrap entire comments a our continue of team to growth all platform-focused for their we up

With turn back that, it I'll Jim. to

James Clemmer

Steve. Thanks,

clear insight with company for this we We communicate to with transparent you are our future and a creation. will a to manner. our continue to call portfolio opportunities and value a diverse you in gave that hope performance I and try

our that platform We has are a evolving company continued technologies.

a prove difference continue the lives to make that products to pathways will world. patients develop of in our the around We

We choose to care earn partner. who as caregivers, hard of have us trust delivery worked the their

upon and of a by We source have our our centered our built foundation are the that products They people. strength. are

mission. thank good a and and commitment really patients We I customers proud their steadfast teams to them we I'm of serve. that to for are our company. how the deliver our they

you. you With our Rob, joining for today. to Thank call I'll turn that, it back

Operator

line Our with of comes question the Raymond from first Instructions] [Operator Jayson James. Bedford

Jayson Bedford

just couple of questions Maybe a here.

the AngioVac, on First down XX.

And You expect improve? mentioned inroads. are from competitive Do then you here? staffing AngioVac just to about thinking how challenges dynamics growth these you

James Clemmer

talked as burden dynamics in Jim. And with larger couple things. and will requires, for improving high, So a again, but it severe customers for product. AngioVac. really, call. of removing A to Jayson, that Dynamics clot improving, we complex noted, about we cases the affect and sit It's our Thanks as are it's that. The the it little you team. is really remains vital use, a are

which in hospitals sometimes continued have environment So this looked for lytics. alternatives, include other

Sometimes them. may a patient released their status can may get change before we or treat

So that's part one.

call two, learning points bag, the AngioVac Number some of now some different also and same we're same how call in selling AlphaVac points. and the we're

dynamics better The get we'll we our So are improving do. at in customers. what

be for expect first stronger half we to second So the than half AngioVac. the

Jayson Bedford

Okay. generating study. through On assuming worked you're here, ongoing just math I'm contribution NanoKnife, I from that haven't growth but the in the is more than strong NanoKnife the that

growth be seems what is, to question on driving the So NanoKnife? this renewed

James Clemmer

and effective and We we So study become can now of real. is that with The joining. happening focal coming treatment urology and what's PRESERVE things. partners hopefully an with around how couple That's excitement the a our great. see

me for minute. that Let aside a put

So our international back job really done team good getting into a has China. us

their Central the of the NanoKnife got as sell Jayson, for some -- other Nano places of today, how as we've a treat running able in liver U.K. well in that and where what for and period, it's it treatments. folks Europe we have lot to works. as using well does again and they we're in of as commitment prostate where And believe last Europe parts in to in coming and soft lot So the a up been China really business again

creating kind So we're again of the board think globally. around excitement really around rebounds a PRESERVE seeing also the globally at halo can we the across what -- I do effect strong but NanoKnife drive is

Stephen Trowbridge

always halo as NanoKnife effect, had telling a that And just clinicians our prostate to and said, was in in said, need that unmet think listening was that Jayson, there it an were that to that. what to role and us we the we've play were Jim I to marketplace add

getting that was market And us we're force a the to role play. So was was that seeing. that's what PRESERVE there driving into was for us for Nano the telling to

So effect, saying the market has when the play. really of we push We there's continued halo unmet talk it's about think need. is NanoKnife role this to that an good. a

really is see adopting a we're full shift that Our continue study to But continuing it's support there to in that. treatment as NanoKnife a of to option focal prostate. market

Jayson Bedford

Okay.

jump in expect follow-ups, quick in back you that two to PRESERVE, Just enrollment do then complete when queue. On I'll and study?

we second, towards resources funding more sales you're then allocating that initiative? NanoKnife can And in just that assume

James Clemmer

the we this to expect So first calendar half complete year enrollment in of during XXXX.

to months, be that able we good there. the study, momentum So there's next Jayson, we should expect X complete

we've and you commercial second, beyond It plan to with that. I'll for folks on then XX-month to work follow-up guys XX-month follow-up. then us And requires a has PRESERVE remind not FDA a the call, yet the talked about clearance. our

We expect that clearance. we'll that commercial that receive. by indication to product about with make that point, some detail think, to to to market, -- probably that the end we'll we we'll in we'd bring you by that have of investments more point XXXX And talk

Operator

from Our the Plovanic is line Bill next question with of Genuity. Canaccord

William Plovanic

And the or with the I impact don't should was to any news and next for we with events that timing steps? How -- just going that think flow? the what Bard. litigation you addressed any P&L I is are cash expect?

Stephen Trowbridge

that I Bill, can one. Steve. this is take

the out indicating earlier decision the litigation. X-K during the put have the we on So quarter

see a to is continue. long and conferences said we as ongoing and time war. as this the about at As going end, don't We the talked this we've at it's then,

to running be usual. really how It's So business going business. our impacting that's materially we're it's not as anything

ongoing for It's long a been time.

about there when for forward what So you're P&L the most from you've in kind part, any see deviations material been and baked the so asking the going they've implications, past. in wouldn't I of seen

said, timing, very the there's may are similar. on we've within our that course on there's As cases of QX. appeals They appeals come up other case, our

For scheduling have case. the that our the to still other on be other some in we're case, answered waiting for questions

still ongoing. So

happen, our things something it's run we for any As to be But most telling you. not material part, we'll that's how impacting day. day the business certainly

William Plovanic

strong pretty then that Okay. just quarter. the And Auryon was on the in

launched the quarter you that release? mentioned limited initial of You coating. maybe on the market purchases sell-through the versus much was hydrophilic How

James Clemmer

So not of our customers' of limited that a expectations. lot was confirming the use Bill, market the meets not product on limited just the lot that process -- to a release. confirm purchases forward we'll Really, LMR

and that's new fiscal our mentioned why of the where second process, the we're the -- ramping So shifting this flip year up make from half hydrophilic we now production to non-coated I over. that

still So they year how gain the meeting for the and We hearing every it. during Bill. we're a there'll it's it -- physicians where safely lot the confidence well much contacts Really just really how Auryon effectively just we're course how be calendar of data in of performs. demand pleased presentations they with the anatomy. works stories of product this and when use strong treats And demand, data on know will customer present have, by day we

continued Bill, really growth. in normal So it's the confidence just and platform, organic

William Plovanic

if then Okay. may. for me last question I And

are went as we Is How of kind that should it that backlog it $X a now think business? further? down forward? for $X we million. state That's million you about the normal that move go -- to should expect of me. kind you Or at mentioned steady you Just from to

James Clemmer

Good question, Bill.

to going how in and call get our here teams which we're would forces and forces We're here. below we We've back done level work got operating now that participation with labor labor teams the our continue down operations million U.S. level, to a stabilized, to $X is it. normal they've pleased far better yes, what and it So order our to our

Rican year a opened about aware, our you're we as up operation Costa ago. And

and So now expanding we're cycling back growing. are calendar event, capacity and efficiencies we've got we're a there

a to get pleased we're order operating So back back -- level. there. backlog normal We'll the

like speaking time, to products order some And even want we're a in and checking who clear. and customers it's Bill, there, doing they it need our from that even they long had double for things them

this industry to we're going our learned it curveballs pandemic we're get teams at and a fiscal best our lot our we'll close them serving in that backlog The normal, up. So down, the to with We lot a responded customers to our the clean of and we by ability. everybody sure hard of hopefully of here thrown to year. work has and make end

William Plovanic

would And clarification the would cleared normal out? million, for be $X be purposes, remaining just

James Clemmer

backlog, we target we No, try to do. about We Bill. sales have half-day a a target is

in normal value, of is order. So as backlog, you $X.XX $X if that back million you at kind what call million, look that range a we target

So get we'll probably to never it X. -- you

complex a as with have We portfolio, X,XXX know, you over diverse SKUs.

that comfortable get our with into feel we and we sales that So target half-day a customers.

Operator

Our next question the Oppenheimer. Steve line is Lichtman of with from

Steven Lichtman

Wondering on small follow up vessel if could DVT. I

come that small a is go platform? been guess data-wise toward XX of do going I after that's not Auryon and with just market on to DVT later? And French need you we that vessel So pushed to that Or Auryon? is else to regulatory-wise completed or shift couple do perhaps Should what the to assume things. now AlphaVac

James Clemmer

Steve, thanks question. for the

of couple a things. So

power we've such how kind works, just the XX demand of AlphaVac partners, French so and of and from vessel delivers really seen have Auryon it the on really right, energy told wall. You're our suspended our how us because XXX-nanometer efforts interest used wavelength our the who've development physician that a we've protect

believe of why effective we the arterial now body, the benefits reason in parts venous it's the can offer The and safe structure. same the in

the mechanical believe Auryon. gap can conversations fill which can us with energy, also capabilities partners learnings Whereas vessel now ago, our small the we've that and of have the option Auryon really couple aspiration that made now a XX here deliver been we're the we the development French are DVT. it better because shifting would with that that best that how our gained AlphaVac thought So for years of

think, we also technology So get we XXXX, to a the time by calendar we obviously with as plan clearances pathway got we've But a the to little lines. that which includes need. launch earlier, back said potential further of regulatory we'll end

Steven Lichtman

Okay. around periods? of small on visibility in data should additional we'll vessel Auryon so in interim the that the expect coming And some the in some efficacy DVT, we get

James Clemmer

We're to not marketing We're DVT Auryon some vessel to small currently today. make going changes.

see stuff. some You'll

As the share closer we'll some we'll make, different to iterations venous sizes fit different offer we get with launch, structure. to design you that we'll products,

won't a outside much in component on So our targets you are today -- physician see data there. venous but of may in targeting for still efforts the really I we're the can't to own, the development option. That's used targeting what Auryon do be where predict main arterial now their PAD.

Steven Lichtman

it. Got

Okay. sort give you terms of Any completing And thoughts that to enrollment sort any underway in to of us the in Can pace shifting in APEX of of here. enrollment? color trial? timing of then relative terms

Stephen Trowbridge

Yes.

We're terms APEX. seeing. of with number in enrollment pleased on haven't specifics given that the the we So pace we're

go clinical these XX we forward. months as when [indiscernible] and to far XX to finalize As enrollment move studies expect kind the of

particularly pace with pleased environment. we're seeing pretty been we've there, So the current that the in

Steven Lichtman

respect Okay. terms placements utilization -- I on mean see then changed 'XX? play the that Has base? on that is fiscal you your expectation of you'll thoughts trying the Auryon, this slowdown out with in to new year of continued And for Got in anything within how a it. drive expectation continue to and a will really that bit the lastly current

James Clemmer

of our off maximizing we're we each efficiencies we in what our serve mentioned already that bit sure where a cases of July receive back of lasers because Auryon said shift -- patients the was we to make -- that we to the fiscal back we and placements year, ratio down this new plan we the slow we investors want Steve, also kicked our in placed. of when kind that have to the

a to our we're So as use as as make we're going to as we but efficiencies need combination said We that manage lasers. customers the places this it's that an well. many It's expensive really who product, year, place because great we've you to capital base, already as it's base our then we want last Don't still want know. expect really sure a from getting year it.

They're the they will enabler We how lesion, they on really to big fashion. the think get in now it want steer a confidence have be in real cool it that. where the physicians hydrophilic that, can a coating of to as working more deliver product,

really we're comments the given So excited they've hearing that us.

So we'll each quarter, still will interest continue, business with manage to demand, and as that we shifting phase. year. or work lasers but But less will normal this well but balance just grow the there's going in the less going we're Steve. business, mean Doesn't place to dynamically, maturation a we're

Steven Lichtman

fiscal year? in you Auryon guys adding through And terms right. there a the reps thoughts clarification, Right, sequentially? selling this did increase just your for this quarter And of are what

Stephen Trowbridge

was that this quarter. added -- one head was that was maybe one There during

rest about, fiscal year, into we trajectory. thoughtful continued well next to We had we very we've talked about assess of So in continue as staffed that the a investments being pretty felt team as year. the the that business. fiscal how And overall we're this move we support invest we'll to for

Operator

with The Mishan of next question the KeyBanc is Capital from Matthew Markets. line

Matt Mishan

thrombectomy start AngioVac to To offset to seems a and understand that just expectations kind year. off, it the bit want like mechanical for is this guidance. in what of are little fully I below

James Clemmer

Matt, it's Jim.

AlphaVac I a have. at we sales we in can you under. and very sales bag. of we've terrific we AngioVac off when So and why our the what been since working learned a, gave expectations close always But we're slightly exclusive that; doing combined lot walk-through. with approach, launched again, mentioned about both our a two, little customers. a couple reasons AlphaVac's b, then we that number the -- a June X AngioVac And together looking answer.

to go as number, saw, you the market. we we're we but that in how And better our the category, guidance slightly down get within we'll So of brought range. well comfort

gave there. some that's seen here, lot outperforming talk NanoKnife the range we about already but you other things. didn't guidance We've that We saw a expectations

can you look we So have. at expectations

business international a terrific has job. done Our

new exclusive partners with us level. have helping customer We the pull-through, that are some clinical distribution

things a we've talked other So bit. little about

lot guidance. a really that for given haven't we're total you range We we still gave of on, confident but detail in

Matt Mishan

And of steadiness seeing year? current the unique of of -- Okay. are stability kind guidance Like report confident of is you first more a companies reaffirmation the in Are in through environment? does you're marketplace? halfway and you to of sign a and December. level one -- you're is after the it macro November the the You're the the that like

James Clemmer

And hospital slow aren't prepared Matt. there's day, as regional the definitely gradual talk clear most we have There's But seen uptick at to some mentioned appropriate nursing we levels, every remarks, and all cases. and delivery level. you do, we of confidence that kind on I point, of they staff Good that being a see. CEOs the but customers, some shortage in still effect, a

we're kind that baked better. gotten others confidence that of you It's it's But just I the of range in have why the [indiscernible] confident are. talked about confidence into to guidance we

products to work good to backlog down. has that Med Still our on team growth. Device great getting our work done received, Our the the are back bring being the platform,

that answer part All confidence job. a are teams is back yes, stable Our a bit your together, getting are are our our great that. to customers Matt. doing But more those there of question,

Stephen Trowbridge

experience manage expected, through that And about ways Matt, finding hospitals talked hospitals that he remarks, Yes. are to in facing but staffing that. our been pressures are ongoing that, has Jim's as the

as both into and fall I as the too. that that, well theme, we businesses, think really is hospitals

from have or there current hit isn't expectation pre-disruption environment, managing or we're to back change to pre-pandemic understanding guidance levels. they our Our in it, an half the the back so that where are to snap things through completely

are expectations that that. got we've the in based range as to And Jim see the going through Our environment upon it. continue as we're said, we confidence guidance our manage to

Matt Mishan

Okay. labs? And then the same you require from into in a office the Auryon to FXX a follow-up in hospital? those bigger shift to make in doctors Auryon. Or push Are that development does on the the space

James Clemmer

gets that's going call. to know centers there's give going quarters commercial Great outside maybe of setting. the delivered so lot hospital that's months. coming thrombectomy guys plan say, We driving already we really over we're It's think this We those over science you how special a Matt. things in performs. we'll more though, delivery the of in not in because be care so OBLs. venous of technology more in like it deeply and OBL the Auryon. time other a and kind this and to that one look care But believe is And Today,

we So shifts the occur use can of believe successful DVT to hospital in it we point. small sure we're this the of bulk to vessel for make going be which at accommodate also will the treatment, setting to a necessary make really commercial

Matt Mishan

last And missed question. I last X. Maybe like then a just or it over the quarter

any on pancreas happened Is there enrollment where what trials? is what's NanoKnife? with Just -- update those with happening in DIRECT

Stephen Trowbridge

forward. the on is. go. any So given enrollment updates specific haven't It's where It's we to moving continuing

be the to we've That's difficult. a As enrollment of registry was the about, as is proven true arms, be terms the to The very talked side that as well X that going trial in RCT. RCT there. the had

we outpace started later. though We're thing other even enrollment expected would outpacing DIRECT trial, the it. that really that we is that The of it seeing that the given that well as structure PRESERVE PRESERVE said is

pretty DIRECT. what So more happy and of still given that on get that, as with focused in know. today's and forward. like then still the -- And are all to we're things We're milestones hit let you we continue contextual going things we'll on we're environment seeing moving

Operator

for to Thank call closing any the Clemmer now remarks. Clemmer? back I'd Mr. you. like Mr. turn to over

James Clemmer

Thanks, committed the investors. to that I company said we us technologies that And Rob team for platform customers again as we're and for trust a today. delivering AngioDynamics partner us. joining can be in to ensuring and a care delivery our to and challenging environment really Thanks our a earlier, day. our physicians our and for a working Thanks Have with customers. great

Operator

This conference. today's will conclude

this time. may participation. thank your disconnect You We for lines your you at

AngioDynamics (ANGO) 5 Jan 232023 Q2 Earnings call transcript