ANGO - Earnings call transcript Q3 2024

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Operator

Good morning, and welcome to the AngioDynamics Fiscal Year 2024 Third Quarter Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded. The news release detailing AngioDynamics' fiscal 2024 third 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.

Before we begin, I would like to caution listeners that during the course of this conference call, the company will make projections or forward-looking statements regarding future events, including statements about expected revenue, adjusted earnings and gross margins for fiscal year 2024 as well as trends that may continue. factors review including, past Forms measures to without XX-K, certain identify pro to with future XX-Q and differ you the non-GAAP company which SEC, cause this will described during the limitation, specific forward-looking materially encourages from the or financial in and company's call. filings and actual those Management results may the events statements. The that forma the discuss company's also review in measures operational measures these establish business to that in goals and over and uses these performance, Management may analyzing operational believes the the time. investors assist underlying trends company's accordance consider these GAAP. should or in substitute forma measures for addition in to, as superior Investors reporting with and as financial a non-GAAP not to pro prepared measures the package and financial on company's offering also available of into Investors Events website under slide is insight the results section the company's Presentations. A This during Executive now presentation the to in results discussing read call Chief the AngioDynamics' operating and Jim with morning's release press over Clemmer, this President conjunction the should to turn be and financial Officer. conference performance company's like call. I'd Mr. Clemmer?

James Clemmer

you. everyone, and thank AngioDynamics' fiscal you Thank XXXX third Good earnings call. joining us quarter for morning, for

call pro forma and Syntrax PICC excludes and today rates Chief provided on third provide growth is AngioDynamics me President performance. Trowbridge, call BioSentry, our products. will which respect on to basis, the catheter Unless RadioFrequency with a impact results support discontinued during businesses divested of our the and Midline financial quarter today's and Joining detailed analysis Dialysis, Vice our be financial all Financial and metrics Executive will who our Officer, Steve a of otherwise noted,

forma our strategic quarter. an expanded with on number with We third saw that settlement significant indication after pleased we agreement growth BD/Bard. very securing revenue are of a including reaching and the and executed a solid during QX, milestones pro We during

our This manufacturing divestiture, another manufacturing our with our shift ongoing and combined portfolio portfolios. of significant of New the and year, Merit divestiture us margins the growth with the our also optimization out while step to expanding PICC facilities towards the and fiscal platforms Additionally, York further Midline to profitability. we of this divestiture from beginning Tech product the announced drive driving Dialysis key businesses in positioned of BioSentry of our upstate Med at and Medical of

this quarter We results. third detail will turning our cover in now to more shortly. But

Our in of year-over-year representing solid approximately of revenue to $XX third We and 'XX of with X% of growth saw quarter a with in our Device fiscal ended from growth Med million, Tech growth quarter year-over-year, return third double-digit Med segment. segment our mid-single-digit the growth and was XX% approximately grew nearly Med our third XX% approximately sales the Med nearly driven increasing Device XX% our XX%. NanoKnife segment segment segment. which from Med by Auryon, Growth the with during of from and quarter, Tech probes grew which X% year-over-year, Tech

APEX thrombectomy stabilized, of AngioVac we down includes sales mechanical while the and roughly PE discussed due wind AlphaVac which declined our year-over-year, business, at AlphaVac quarter, trial. completed enrollment as Our we slowed a many as last sites in to XX% AngioVac

trial We sales softness approval the and PE continued of the expect completion FDA the the of between indication. in AlphaVac the

it by indication of our with team treat long-term and laid expectations, and exceeded other trials. results expanded strategy up provides design to put trial. excited our our our approval put and our endpoints significant from fast-growing announce another and AlphaVac are comparing our clearance for comfortably data hitting expectations, of is benefit This we elements proud of It the of product treatment This and we've of for together you of market of opened large, patients. We XXXX. us, a in our strong ahead unique that generated pulmonary for that in APEX back July physicians the out PE pleased the FDA validates to APEX the came use today are received approval our significant targeted favorably to I'm the piece physicians' trial a hands. The to the catheter-based compelling we submission them more that and This in embolism.

remove PE look design specifically, time announced and in the to of clock funnel, publications unique in more Given forward less the in specifics months. were elements the one-to-one [indiscernible] ability able burden that expandable been device, physicians reported and complete trials. our maneuver the We procedure the other more being over coming to has significantly

growth important play strategy. our as role execute business on This an we will

expect fiscal initiate full launch QX of during of scheduled our during a launch limited 'XX. release We the our end a to QX, with FY

catalysts treatment and for near-term approval European the which include end PE June. other of we AlphaVac of expect in expected of Additional by markets, MDR

promotion will why the expect use This CE mark into intended June, the procedures receive of radial potential We by more potential perform third another to During we launched and approach allowing the and fewer is can radio U.S. XL catheter. in is EU consider they their give patient their and the to currently faster to the like another physicians treat for as per complications. this Many follow-up end quarter, OBLs. cath has the Auryon the us markets. physicians to Auryon peripheral customers And beyond artery disease. point is day product reason labs generally for or expand access Auryon

NanoKnife our to business. Turning

and to to PRESERVE for to caregivers see We treat will Tech segment Med our the cancer. currently and for Device. 'XX, XX%, XX% year-over-year, are of NanoKnife which and Med third XX% the business primarily calendar for end quarter in Med XX-month of respectively. by interest EVLT clearance prostate was then and patient X% the in X% products, patients the international approximately XXXX. Growth forward seeking FDA, FY to data of we our in usage Device we continue expecting approximately In our the look of catheter options and completing grew grew follow-up XX% by We and risk our our intermediate study, driven for submit growth our increased including angiographic growth July approximately

to symposiums who increased patients. meaningful our we Clinical their of continue We Tech utilize our excited caring Symposium. in pipeline global products a Life in are and physicians drive also to hosted generated have products, for fifth interest These our International Med

our Now I optimization QX. portfolio we to million $XX On total the turning mentioned in roughly Spectrum a received consideration for with earlier. and to our portfolios, million that PICC $XX Midline February our of up XX, Vascular sold

would sales of as them Additionally, growth to our as our sales transition RF cost us to and UniBlate not are StarBurst catheter older approximately that these and outsourced Syntrax and to In $XX new total, FY products products support we well million discontinued were in our as core these our model. of discontinued products 'XX. divested have strategy contributed

manufacturing in fully FY The we now with realized well We our a to growth of Device portfolio announced 'XX. sits in along model, happier in million which and where profitability, a support to starting our much that segment 'XX on less on can with today investments complex higher savings the with approximately foundation fully Tech Med future transition last $XX underway are and that in track generate organic outsourced annualized being of growth our and growth. FY our Med is a business our help call, is

down our and we combined approximately debt received Looking of we the combined at to assets, and pay able the this Xx to balance sales Merit our all strengthen were divestitures year, Spectrum sheet for outstanding significantly. and

clarity transformation. With quarter review us Steve reached with with IP detail. President of turn more in BD as to in the allowing we to the Steve a will providing Vice our litigation of I'll Finally, Financial detail, that, than Bard, discuss strategic more call us focus and and to Trowbridge, our more Chief settlement over a a on and Executive Officer, decade certainty

Stephen Trowbridge

Thanks, Jim. Good morning, everybody.

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

rates unless and and call mentioned, that otherwise during Dialysis today's and forma that basis results June, metrics we the all BioSentry PICC Jim divested that noted, RadioFrequency last the and of the support growth products a we Syntrax we businesses products discontinued. divested month pro last the on and and are Midline exclude recently catheter As mentioned

up We were $XX quarter both is revenue 'XX the of our quarter, revenue and Device and across the in strength growing year-over-year Tech Med and with platforms. Med XX.X% $XX.X which of return that segment, and we our had X.X% the revenue pleased increase, quarter million, the while Device up compared Med reflective Med expected portfolio. X.X% a Year-to-date, 'XX. of to X.X%. saw our was for up Med of growth third to was by with driven in businesses we to million, Tech Tech the our Device third growth overall our both Med Med year-over-year year-over-year, is segment Our FY $XX.X Med third revenue million, our X% increased Device FY Tech X.X%

quarter, basis, third a of the on fiscal XX.X% forma total platforms year Tech revenue revenue of to our compared For a XX.X% total comprised our pro ago. Med

segment XX, of X our X total as Med XX.X% our Tech versus the comprised ended For base months XX.X% ago. February of revenue XXXX, year

quarter, was in year. $XX.X quarter, Auryon over up Our platform to and 'XX. third sales, the similar includes revenue Year-to-date, XX.X% contributed the Auryon XX.X% prior $X.X thrombectomy sales. million to is of third platform our quarter AngioVac revenue year-over-year. Mechanical year growing which in revenue, AlphaVac FY XX.X% compared AngioVac the million the last declined during

see stabilization in AngioVac revenue to for quarter. quarter during the AlphaVac was pleased revenue are the million. $X.X We the third

confident sales our and are pleased planned were clearance revenue are XX.X% to up of growth up to NanoKnife the well NanoKnife treat the excited are disposable our product remain strong We indication XXX.X% Jim and will clinical XX.X%. driver a disposable quarter significant for of increased we about are disposable that strategy, the pulmonary a but announce sales contributor to very during XX.X% mentioned, in as be introductions future embolism. year-over-year. mechanical thrombectomy we initiatives. NanoKnife are AlphaVac as robust the expanded sales. quarter, growing sales Year-to-date, As new an total Capital long-term

data that is reminder, X.X% made products. the grew course forward our Device as led public this a addition, by sharing year, in in to we In segment our XXX% over and year, to enrollment year-over-year, In calendar it we third Med earlier be this with now as of quarter, catheter and complete, EVLT look the PRESERVE announced angiographic you. strength this starts

statement. income to Moving the down

margin third points XX.X%, for was FY year ago basis of period. gross the compared to quarter a the decrease of 'XX Our XXX

third saw to of XX.X%, Med driven thrombectomy higher-margin our Tech basis points, XXX and each by was of products XXX decline decrease XX.X%, manufacturing. growth in margin gross the by Med XX.X%, of Year-to-date last quarter when was costs margin for for we gross margin of prior as FY basis business fiscal Tech a Med points was the recall third For business Device a margins Med sales XXX mix supplier Device of margin product XX% Med the was with a decrease in gross for gross and versus our the quarter, year, Tech Device basis The of margin was as points declined gross impacted compared year. outsource with primarily gross Med year-over-year XX.X%. 'XX mix a international transition geographic to and markets. Gross margin of the and associated decrease

As our we comparing margin a businesses, expansion to divestiture margin PICC following as that for and well of numbers significant this the our our this year referring pre-divestiture pro I'm see year, Midline margins. when forma last gross to numbers as and did reminder, the

by profile roughly margin transition, expect will some annualized model. the footprint. full the $XX manufacturing to discussed are this ebbs a 'XX. fully flows our in we we outsourced our in gross savings this, As that we margins. to our move realized has gross we scale million we restructuring we impacted announced and FY address of been see operating operations impact in complete structural our of restructuring this quarter, to Until result reported To negatively limitations Again, annualized and can being with last

absorption paying the transition therefore we our impact overhead moving The for the to manufacturing and up end this, do we double of For quicker example, increasing manufacturing faster incorporates under third-party partners. do plant. the of recognize manufacturing cannot our the in we transition thing Queensbury The complete. our fully but plan is full right overhead savings in connection to with until our impact

to facilitate inventory In we building anticipate moves. outsourcing the addition,

in revenue to will gross gross from we're growing there our expansion margin percentage results operating in strategy be continued that the our drive committed our noise and While footprint efficiencies Tech our of Med the maximize to ultimately margins, base.

to Turning R&D.

FY expense 'XX and quarter during sales million for research compared third of of the of FY development of XX.X% year to or SG&A Our a ago. to million of sales of sales a was quarter XX.X% $X.X 'XX or was expense or the sales ago. $X.X representing million XX% third $XX.X year XX.X% million, $XX.X compared

of of was for $X.X of of $X.XX related The loss and in in gross adjusted to lower loss of of includes the with loss detail charges, net a the we per share which million an in $X.X third outsource impairment net year-over-year million 'XX. Syntrax. and to a $X.XX charge net GAAP to million, to discontinuation year. GAAP of of $XX transfer. On discuss the a FY noise $X.XX share loss in compared a decline quarter million loss quarter associated The impairment attributable I last or of the ongoing adjusted loss adjusted third goodwill of manufacturing quarter share moment $X.X transition settlement adjusted the margin will charges $XXX.X further the largely Our million third million or $XXX.X or per is per totaling 'XX of asset a manufacturing recorded loss GAAP and fiscal net basis,

to impairment quarter compared Now February FY undergoing is XX-Q. Adjusted the XX, goodwill in and of at million negative adjusted EBITDA quarter cash we the negative million will was it filing on in 'XX and equivalents $X.X cash the if $X.X amount necessary, to and million XXXX, to third of report compared cash $XX.X be EBITDA 'XX. $XX.X in prior preliminary million quarterly Form in further XXXX. had of our equivalents adjusted evaluation cash third with XX, May At

X $XX to $X.X we around gross to operating and manufacturing discussion a ebbs million that quarter in of quarterly our million in to the our of flows transfer. debt third fiscal cash Auryon $XX.X will year used as have reminder, there we compared expenditures a 'XX, we In placement currently a ago. million. Similar margins, result utilization units million of cash and As and evaluation of our be in addition $X.X capital expect

initiating particularly was Our divestiture third PICCs and of of mentioned fourth fiscal strategic transfer. I and manufacturing our supplier earlier, the quarter the Midlines, noisy impact with recall the

While case, expect in quarters. always the of other cash example, we higher our QX flows to as use expect continued and we for exhibit cash, than is ebbs

put We us are strong confident that capital our has a allocation in strategy position.

and drive to that, in We recapitalized and debt X significant to sheet been of in transfer. We portfolio maintaining high outstanding will a from next manufacturing undergone uses manufacturing execute this environment. more the midst position. with XX intellectual agreed X our on went in litigation necessary balance investments a now our debt to have position, with There will And be debt strategic having This optimization, Bard. a focused a Dickinson, the Med we balance our strong has of a cash Becton but our a $XX rate with strong ebbs of us cash million fund to very sheet. Earlier our an we the into settle complete and sheet, and for as company interest agreement we've overhang in work our transfer over XX flexibility to segment years. have cash property and this flows entered to connection to significant than to we remain balance allowing growth months, week, Tech XX announced on with that we settlement all significant continue

in business. remain growing come litigation. uncertainty This position, cost us avoid transforming to our allowing also and confident in very Although significant litigation. felt and very certainty, of provides the pleased focused We're further and to we our on clarity there's settlement to settlement always this

made equivalent matter, threat now was but also in next while a a the legal of years, We larger paying fees might rate the us possible unlikely X be this that still run what X-year been future. removing judgment the over in but worth will of the essentially out much of against have

The businesses Syntrax to the $XXX adjusted We of only guidance. contemplates $X.XX per that $XXX be that of Turning for range share expect last 'XX These recent $XXX $XXX and is of approximately the loss in million prior guidance be it businesses $X.XX. to PICC million. divestiture range our and in anticipate quarter revenue now to the now to million guidance accounted $XX Midline We relative FY in of will change of to now the million. businesses. year our of to discontinuance million RadioFrequency revenue and ablation full the

discontinued We expect to corporate have XX% to margin to our as to range overall 'XX prior and estimate our the XX%, gross lower be divested the above margins. margin gross of FY in of a XX% businesses XX% relative

XX%, Med the continue of range X%. 'XX, revenue to the to and growth of we For range Med expect in revenue expect to we in Tech XX% growth now X% Device FY

in XX% expect in XX%. Device to is from prior Med to We the guidance up Med to range XX%, the Tech XX%, XX% gross margins and margins unchanged, gross of range XX% of which our of

And team I'll possible. finally, in I back to work like here our it would at making AngioDynamics for that, hard commitment turn and Jim. to With our transformation their thank

James Clemmer

With and Yes. the executing today. to high-growth of our are call Bard out of strategy our that thanks is announced great today of in we pieces The indications us that strategic moving large, on in that XXXX and markets. products, Thanks, and us high-growth this settlement back of adding there PE company. the lot the we being Steve, another the on of Med the laid service focus AlphaVac and of Tech discontinued closer We against said, July our example a transition. divestiture in for that moves acknowledge all manufacturing this quarter a joining between approval

changes, become up transformation the calls. the significant able apparent. Operator, we benefits as for will Moving ahead, line and more are open these more of leverage can we to our

Operator

[Operator Instructions]

of from James. Raymond Jayson with first the Our line Bedford question comes

Jayson Bedford

me Can okay? you hear

James Clemmer

Yes.

Jayson Bedford

few just here. a Okay. Maybe

interest the your my we picked of you comments APEX trial? trial. the When from data do with that So results see around

Stephen Trowbridge

got Jayson. this I a up couple Sky of investigators think as month, expect believe some that We've that another as One pretty you're APEX We from do coming were seeing well months, trade podium part of both are the our shows in as trial. presentations so start it's that a publications principal as good to well soon, going one release, the the

good knew excited As expectations. pleased The for out exceeded data we're of very results in had we Jim points, a to trial the We and the we think with -- a even Jim but there. what mentioned, clot were they get our nice that what us. we we it's be around especially hitting primary of end for both about terms overall saw, removal, going talked differentiator product, to

Jayson Bedford

remind on you Okay. to timing us just enhancements of And the can AlphaVac?

James Clemmer

So, the element year, Jayson, of that of received the half a we second you'll study. couple we in changes a R&D, based calendar during new being of couple feedback products see design launched, this new on added

second the comment to forward the to that half look calendar year. of in but this year. second on specific the the point, of half we So we're going details, not see At you'll

Jayson Bedford

are on clearance There's And XXX(k). involved, it's contingent -- right? a regulatory those

James Clemmer

are. There

coming couple things We a out. of have

be letter to to think elements on one a design file I might on add. just going XXX(k), which we're but depending

Jayson Bedford

fourth that is just anything the the outside is? noisier obviously just this guidance specifically? you third a imply to keeping Okay. changing quarter. quarter make you're the the business? guidance in to more a little it the moving a Or relative but of here. I that Is by appreciate not lot as -- function wanting the Are of there's you're specifically seeing guidance anything appreciate I pieces there divestiture in to seeing growth fiscal slower the of seems -- not on

James Clemmer

it We it and a those. change. simple We're the on market any talked shows want Yes, we've a changed. we has think seen or and now. with have the investors, to of keep that tailwinds, was no, comfortable our Jayson, forces range There's gave. about really guidance that in I with really it the just going consistent. all obviously We we're nor to headwinds we simple of stable change it blend keep right market But haven't parts thought shifted some not we in we and seeing for consistent anything moving

Stephen Trowbridge

disruption sales on, the in dealing had And maintain products, that out. in there's levels with as we There's that we going the some guidance of you that said, changes we can the the we're but divesting force, a on lot made set and transfer. manage going terms confident the of manufacturing through making

Jayson Bedford

Maybe last one Okay. just me. for

alluded deployment of kind to You plans. capital

thought You've got of a bit buyback there's need of kind to a fund little being the more a lot the of with any active realize cash? just or cash, business, but either

James Clemmer

acted two cash. So with the points,

love Med opportunities platforms the we think portfolio just the platforms. years. see product, have not side. I signaled, Jayson, today in Tech really you'll the more we they're we've Three really that great in They're coming spin-off

else's So far base. level communicate we're product and maybe we'll assets a those add not at or to looking And as are Board buyback, to to anyone our maybe as discuss future. second, acquire things the the in

Operator

question next & from line of comes with Steven Company. Oppenheimer Our Lichtman the

Steven Lichtman

kind I AlphaVac where guess, that. look the talk you're PE? it's And in will team, training of it's not plans wondering Just can Jim, rollout so how the add to to impact What thinking you about needed? Steve. AngioVac? commercial first, to be you about effort for

James Clemmer

Thanks, Good question. Steve. Yes.

Sales sales we our of people a on. go sales new and our some for Head a that We you added sales team. our education and management changed if experienced, added to training We great of leader really year nearly departments. So to we brought group, back ago, team some that

parts changes lot thought ready X moving get months, would of wanted our and moment. for what team the a we we over the So build do done adapting this X to last to necessary to to we've be

training our us. for internal because excited education such some So of validation that for level is event we team. We're our still our we're this significant here to the about raised changes, really through educational bar the a the some in of going of

as towards had you generated same study some product. data good the great the So disciplined a approach energy itself, know, this. was we're that putting elements Steve, And PIs into have APEX our in launch. the design which preparation some We but and for we really well level Put discipline a then really effort, our us, of sites lot the for done. and of really of

So mentioned XXXX. about our fiscal in the today, as months only you'll see, X call we've we on got left

limited trained to reps we'll do are now, We release a support ready looking well ready of customers. be have summer market basis. and a FY our And so our to it larger will on be that so will for the launch 'XX, controlled go then

Steven Lichtman

on Steve, you ebbs and flows. some margin, mentioned gross

FY in margin terms I color that up? any look of a Or Just can on early 'XX, at mean, directionally, pro you do gross provide? you anticipate basis being forma

Stephen Trowbridge

Yes.

typically give So guidance margin our 'XX we'll to and our typically QX we results. when we'll for that. detailed stick get to cadence, That's

going the in and to divestiture, think trends continue. that the expect to plan, that the our overall manufacturing there's be do that's we see gross we transfer as But in going you're saw I high-level noise step-up margin. mentioned to I is with going

facility get act move the we of out overheads. kind hands, into little the a faster and doing where here of double balancing of Queensbury got we're that, while manufacturing products them manufacturing still for we're You've paying our bit third-party our

gross to so fully get see transfer. So that and you're going pressure some on manufacturing through can margins

overall gross more look, but it get the into it's absolutely we of the detail limitations get we margin, plans, noise. more that we've to that we seen like a some that, get our to address have little but as of going, that we create from bit the of to over do almost is quarters. eaten believe, areas base you really It's a Med up for overall, our about from of it's the the accretion hit. of structural see that So right We've We'll But margin the little revenue couple give you Tech. by 'XX. is going some faster talked of the thing a one been that larger portion we continued last to see coming bit

through you going once this It's we get noisy it. through margin profile take transition, as to be going you're go So that see off. to really

Steven Lichtman

Were lastly, what -- just we Or Just And margin though? may just kind terms are it. of how you're should cash. not? businesses not of Obviously, divested be accretive place? recently in cash Got the about threw they on off the in of they thinking any cash impact clear products. sort that most of be that those gross

Stephen Trowbridge

No, they we that were talked and about before. cash accretive,

there's So of couple on. a things going

went out. was it that for to opportunistically. divestiture. But remember, the a to products in and out We that when was combined it. us dilutive cash that costs we divestiture thing we the These be the Xx. did If the more had BioSentry the multiple fiscal certainly led any when there costs into dilutive to beginning this of we do going that assets of direct more to year. said and little did the direct right very you getting did EPS us to Dialysis timed weren't because We that, a bit It to all sold for assets us allow some take

that as did. talked restructuring And about with that assets some and we Midline PICC we well as business went the so our

of that. be we'll us take the as into cash working investment. There's that to to provided they There we going we're no we as of -- create mitigate So we're beyond. the 'XX lot in company that able a some said, didn't and heading generation company these was overall products, doubt, to through overall the structure though,

Operator

Genuity. with of Canaccord next question comes Young line the John Our from

John Young

sensors just studies just new think turn data force many just strategy. more How AlphaVac And is in? And need Can sales to the you Do of you high sector? level and in this pricing side on just the forward? going that's registries approach you the in indication hand. back the Maybe to given today? commercial talk what about lastly, being generated you're with a

James Clemmer

sure for remember Steve's thanks questions. them for the We'll to and I'll you. I'll cover make John, try

to of it dedicated We've talked So we've and before reps, today, business, a couple XX AlphaVac in this things. about AngioVac.

question, said being now I the launch. they're well trained, prepared for last the in being As

So we XX really sites APEX had a trial. little over in our

of not sites. those service actually all So each reps of our

and trained go. and ones well think, really are ones we properly that other the ready ready So to versed And being launch. to did, are

we they've So that sales a and are quality located, like like where the force But their they're we of space. We as things knowledge know the how and of happening have. we they like trained the what of couple speak. been

We as we to must... also XX today, have a start plan with to going have reps the we But add I we're today. grow.

Stephen Trowbridge

the data. you're APEX that out. CE are APEX So would launch We're thrombectomy. question think excited to results generation us it's see about talked to the We and get Jim excited some expect markets. also clinical going for I those We're continued about going to that be get the meaningful. mark efforts data international that around a it to results in

is As exciting a very growing. this we It's space. know,

You've number against. competitors that advantages. also up going some real of our very product got a we're think has well-situated We

yes, to be And generation years. could support to in investigator-initiated form some coming be That would to expect going data registries. see with trials. But continue the that some of It I efforts. form in could that we're so over us continued the that you'll the of build foundation

James Clemmer

far we a And device. as finally, unique John, pricing, as have

is for about $X,XXX the it range what AlphaVac. you'd expect call You

John Young

year? sales we the what's Great. there talk just there? of any around strong way characterize quarter prostate? much see had turning And clicking And preserved and probe just When you about can for to to you data the this the initial NanoKnife how there. is were Can

Stephen Trowbridge

Yes. Really good question.

some that we've excited we are seen. sales capital strong about So of the

sure focusing procedure seeing what it's that's on why a for proxy we've capital in a nice started probe can growth we said, That's ago, were you're years be growth of couple -- a we for NanoKnife. that As choppy. of nice making terms because

seeing a well That's So looking seeing is XX-plus nice capital. this finish start some we're probes. you'll both coming PRESERVE, for, as you're very the good we some the some out expected of good the We're podium for going growth the heels sales. July. with We're we that, kind Capital to respect of in going that that see publications, we NanoKnife about talked be AlphaVac, pretty the similar as our presence percent to as going of said, there, to future XX-month probe saw what start what to to for completed data prostate. growth when are With the seeing from to for Coming harbinger out seeing follow-up we're of principal things. well investigators summer. enrollment as consistent we we approval submission as -- going in last you on of

prostate well big There's the growth, markets. driver a about States no probe that. both doubt here the United as international in that, On of in is as

I where it think had from prostate is now flip our utilization typically been, liver pancreas. organ that in where and probably highest

up this what prostate and going seeing the treat it urologist momentum prostate. getting embarked that to using we're really our coming the initiative trial expectations on technology So picking forward, done, we've are strong from

Operator

Ladies back this I'm turn and other I'll Mr. comments. time. showing at no for final questions gentlemen, to Clemmer the floor

James Clemmer

elements design company us really thank our today guys, hard really our And thank last of last few company our you. out on for unique really, our employees worked products. high-growth And quarters, to with of years, to in I and to the for joining into call. a again, preparing years this high-tech, built you, want each especially reach number transformation the

through with example of is to what has team AlphaVac to delivered results us the now and in gone from come we've lot of Our years through one you come. think it. adversity excellent can you powered And clinical a expect

you out soon. our shout So thank a a to you employees. Talk to

Operator

Thank call. you. concludes conference This today's

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

AngioDynamics (ANGO) 4 Apr 242024 Q3 Earnings call transcript