ANGO - Earnings call transcript Q1 2025

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Operator

Good morning, and welcome to the AngioDynamics Fiscal Year 2025 First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded. The news release detailing AngioDynamics' fiscal 2025 first 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 a 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 2025 as well as trends that may continue. Management encourages you to review the company's past and future filings with the SEC including, without limitation, the company's Form 10-Q and 10-K, which identify specific factors that may cause the actual results or events to differ materially from those described in the forward-looking statements. The company will also discuss certain non-GAAP and pro forma financial measures during this call. Management uses these measures to establish operational goals and review operational performance and believes that these measures may assist investors in analyzing the underlying trends in the company's business over time. accordance non-GAAP a forma superior company's substitute reporting under prepared Presentations. these to, in to and financial consider package Events of measures as slide the available not for, in Investors results should is and into on measures pro addition financial offering also Investors insight GAAP. A the the section with or website as company's performance operating during with conjunction morning's This Executive presentation President results press discussing like and the read and financial call Jim now should call. I'd the company's the over this release conference in Chief turn Clemmer, be to Officer. to AngioDynamics' Mr. Clemmer?

James Clemmer

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

for first during Executive with off quarter February over representing our of just quarter. results today's Financial I a kicked XXXX growth of of the performance, detailed are forma the XXXX products expectations. and conclude Vice divested before February President BioSentry I Joining in million, we line in growth Radiofrequency the our pro all by today's PICC call that will catheter financial the a worldwide our Steve our year-over-year, a me June of solid on discontinued on and $XX.X performance, Total support and the which and basis, and will XXXX. We businesses call in X% we will Officer. excludes was the that mentioned first AngioDynamics call in for fiscal very our begin results revenue rates noted, divested questions. Unless XXXX, analysis and Syntrax an the Trowbridge, Dialysis that we is overview with and of Midline year providing financial provide recent then otherwise Chief balance today's opening Steve line outlook with products

the quarter. another Auryon both north by in segment and strong approximately growing Tech grew Med of AlphaVac, which had XX% Our quarter, X%, led

top adjusted financial the profitability, just line, reporting an of Beyond progress our significant performance. of towards loss outside EBITDA we made $XXX,XXX

to product launches hitting product key on supports execute growing catalysts, effectiveness. Starting data to We lines deliver which business. that on continued XXXX our Med Auryon continue our XX% our update the an Tech key with time collecting and safety prior outstanding regulatory included over results, and new year.

expand product efforts dividends. continue the base our As the of to our utility to broaden pay customer and

those last mentioned customer largely a last put expect this As XX to we on greater we hospitals, drive quarter, base, are penetration as untapped increased months paying the it efforts emphasis over excited that off. and into are we

commercial our our in team Beyond execution, Auryon helped to growth quarter. the broaden great has of utility drive work to done the the

catheter of launch XL our this well calendar received year be X.X earlier to Auryon continue by the and customers. As millimeter

received This quarter, clinical access Auryon, value of us end market. the approval a the only European milestone, which not for is we of to the PAD but gives Auryon. before Just significant mark CE validates the also

revenue Auryon for We are to in geography limited Auryon of a a and account low for expect percentage the market Europe currently in release for total single-digit this year.

mechanical our to Turning thrombectomy business.

in full the following trial May, and the April strength use of supported marks demand moved AlphaVac the despite PE the the both performance for we marking a sales and force, by fiscal sequential over by the included first tough We U.S. for year-over-year APEX early also market CE very revenue treating as with clearance and growth highlighting second of AlphaVac, our quarter in fully encouraged APEX in the by quarter Europe. straight had of increasing revenue both in PERT, the strong our very XX% its participation. This AlphaVac data into into trained FDA trial are release late comp, global a AngioVac. XXXX quarter

the evaluate to mid-September, willingness event and to interest physicians' is PERT the which by meeting the recently aligning by positive efficiency, in the our or Embolism physicians intuitive the AlphaVac. enthusiasm encouraged experiences, had Many for will Team excellent We're annual the reinforces have the attend that U.S. in feedback the those saw trial. This momentum has community. importantly, patient Response even data how needs shown opportunity moving the Physicians clot I expectations. very AlphaVac impressed we're own can about with their leading valuable AlphaVac. have with that Pulmonary awareness are We clinical of shared was they're have treatment for feedback belief seeing outcomes pulmonary device only our on solutions the exceeding of steerability continually and embolisms. I for excited our and the we they surpassing in of the highlight but raising the design, and towards APEX this genuinely been the meeting, most not the of is adopted technology, remove much forward. energized the the overwhelmingly impact who

the data majority in was U.S. very successful. the in And growth commercial been our strength the have quarter the our vast expected, of within our APEX As with as of efforts focused driven combination

While we PE the help Europe, the which the for intermediate launch to in and term. treatment near of U.S. designed to of continue longer-term AlphaVac trial, driver growth in safety the acute market. in be the launched is Europe. the started for expect In RECOVER-AV have evaluate support to risk AlphaVac the to in of European mid-September, clinical To we growth efficacy the see we biggest contribution from

AngioVac. to Turning

XXXX. during of We we product continue fourth the within revenue in as this $X.X to first quarter, delivered million, see quarter with line the stabilization fiscal in

board is first did distributor NanoKnife. not upfront our European which first was of on quarter XXXX, within which segment the the coming of that result significant primarily fiscal year. a revenue, over Med X.X% of a We fiscal during was the in of first million large down $X.X This XXXX. Lastly, during inventory this the quarter delivered recur purchase quarter included approximately Tech

as XXXX first quarter are and by volumes. within which system trends XXXX, by adoption have NanoKnife. In see prostate of we the as encouraged excited urologists, follow-up particular, part steady its our continued we very July, with observed to new continue the XX-month in we utilization to The a future leading volumes study. PRESERVE NanoKnife. completed are revenue disposable increase into case trends In of the indicator be use of We during continued about installation a

forced the the As high-quality expected, side endpoint, data prostate giving we as NanoKnife, the quality life us of hit patients ability primary well by treatment of to various its other effects efficacy cancer as modalities. upon supporting avoid

preserved meeting, prostate FDA, With pursuit hand, conjunction in continue work receiving to end solidifying remain to this new the excited in our new to Level we submission calendar clearance, during the year. In reimbursement. X the towards proposals our a create In data an and to prostate the CPT create FDA of code an about have we CPT of Editorial the which procedures. with the clearance participated in codes. mid-September, Panel panel discusses specific a with IRE around to filed we FDA proposal was CPT the company agenda, on

We for later with in expect panel's decision the outcomes hear to October IRE NanoKnife. hopefully and successful

our Med X%. to declined Revenue approximately Device Turning segment.

certain as shortfall fiscal some year, increased softness X% of Med timing of in quarter in international and our Device of orders result international by a products. offset a the prior during business XXXX U.S. microwave our business the first over Our

growth guidance Device our We for from segment Med year. X% full continue X% issued to to the expect to of hit previously

These our quarter, process in $X.XX we We loss loss share, In profitability. our a quarter, strategy our per $XXX,XXX EBITDA first XXXX. per adjusted highlight plan. of during made profitability results $X.XX going Beyond to of an loss significant of of towards fiscal EPS XXXX. million was in execution, drive the is to for our to a a adjusted that improving commercial to on share fiscal loss path just reported the compared $X.X

Before line which line. I wanted update turning provide Steve, manufacturing on outsourced us is our our to with will through change will tracking and allow the bottom This take call ultimately to costs, flow overhead a to expectations over to fundamentally in overhead structure our quick our manufacturing. process and out shift to

savings As fiscal to we in a expect transition XXXX. annualized by $XX generate approximately this reminder, million

are that, the during our turn call We Financial Chief Officer, our and over in with significant across Vice continue Executive Trowbridge, strides Steve detail. more to to our made make quarter the performance I'll to review We portfolio and President the on initiatives. With operational pleased very quarter. progress key Steve?

Stephen Trowbridge

Jim, good everybody. Thanks, and morning,

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

our basis, Jim margin very XXXX, As growth strong, a Radiofrequency were divested terms revenue XXXX. We Auryon, also in results. during catheter adjusted driven expectations, that unless results products results was that Syntrax products in we and our range leading the adjusted line metrics of EPS. the divested February Midline and PICC bottom was rates and February BioSentry d from we that of first XXXX, and performance, exclude discontinued today's with and AngioVac EBITDA of mentioned, which are in support businesses quarter otherwise AlphaVac. thrombus mentioned the to in the and call Gross forma Dialysis pro we strong June Overall the the noted, on all in and by stemming pleased

again, increased mentioned, quarter revenue million, $XX to to a Med an U.S. Device our while first Device Our $XX.X prior platforms. 'XX. U.S. Tech was X.X% increase, compared Med Jim was was of growth X.X% in FY year-over-year revenue of up first Med $XX.X year-over-year Med driven million, over 'XX and Device as quarter FY year. X.X% our Tech the million, both X.X% revenue But the decrease business the for Med by

revenue XX.X% of our Med total a For fiscal platforms of the quarter, ago. to comprised total compared our XX.X% first revenue Tech year

in AlphaVac XX.X% revenue FY pleased adoption contributed sales was of to of the Auryon of and includes was the to contributor first compared a quarter. revenue, which see an the over the early 'XX. year. AlphaVac of quarter million, declined first 'XX, AngioVac thrombectomy the for and $X.X increase Our increase AlphaVac Mechanical in X.X% quarter revenue $X.X and growing XXXX, million the strong first quarter, sequential key during platform XX.X% of revenue over first AlphaVac as for strong of year-over-year also quarter in FY AngioVac continued the with PE. We're fourth result a million of last in XX.X% largely the stabilization quarter $XX.X

trial last last during a we PE year. peak As well of performing comparison provided our mechanical the was quarter first prior AlphaVac in quarter, AngioVac this quarter year-over-year the thrombectomy. to in were We year, the experienced we quarter reaching of second for and first enrollment last tough disruption discussed

dynamic, quarter during declined compete declined XX%. this this thrombectomy to X.X% of continue large addressable are in performance successfully pleased with market. NanoKnife we Given revenue disposable exciting, we sales business the total capital as the very our and and growing mechanical

XX% over in just tough mentioned, first the last comparison last I by first NanoKnife, of bringing quarter NanoKnife international the of As the particularly aided of quarter online. a timing for some for grew year, new provided distributors as year

quarter for comparison. pleased are NanoKnife our an of for track on that easier with for quarter timing the year. dynamic full year-over-year We very second the And have in trajectory admittedly, and around our mean cases the the does projections are will NanoKnife prostate

Moving down the income statement.

quarter of quarter. our expectations a Our for margin was the gross compared points of period, basis to first for of decrease the XX.X%, FY ahead year XX ago XXXX the but

decrease For each Tech the XX.X%, XXX basis of margin the margin year. Year-over-year first margin depreciation quarter margin points, first costs Tech of a the outsource manufacturing. to quarter, and and compared for the was when hardware associated the fiscal increased to gross Med was inflationary Med of with for primarily points Device business a basis Device decrease gross gross XX.X%, pressures last Med was by driven Gross and Med in decline inflationary business transition pressures. was XX impacted by

R&D. to Turning

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

of loss $XX of and adjusted FY compared first improving of year. the a equivalents quarter XXXX, $X.X leverage the in XXXX million of FY cash a million adjusted loss first is revenue of had to to $X.XX and loss XXXX. At cash of million million to adjusted adjusted loss in quarter quarter of compared August first May $XX.X this compared last was the net EBITDA largely the loss of first and was the of per $X.X improvement quarter at in in XXXX XX, Our during loss operating share $X.X in first XX, an we XXXX. and net of or per year. The cash attributable to million $XXX,XXX, equivalents share year-over-year quarter $X.XX, Adjusted net cash for higher

operating have the quarter evaluation million we of began to placements in reminder, 'XX. compared to we addition and units In million. in of fiscal a used $XX capital X FY debt of XXXX, debt million we $X.X of Auryon $XX.X cash As when currently first million expenditures and $X.X

historically first our the the fiscal exhibited our utilization quarter on line in 'XX balance was of cash highest fiscal quarter has first Our update and another sheet. of expectations. And with

July As of quarter, to purchases conditions, an average approved including decision investment company year, the of make we seek announced $XX create the strength share need value approximately of our well about $XXX,XXX opportunistic balance authorizing of fiscal our to a shareholders. for common first will the this repurchase purchased of price based continue up company Through our outstanding we to sheet stock the as $X.XX, of the in worth to in shares. to stock at leverage million end of our strategy and growth market to factors, a repurchases further balance as our on of number as program the be

to now guidance. Turning

year reiterating guidance. issued For the of our XXXX, previously we each fiscal component are

year of the revenue XX% representing to growth to sales in sales $XXX our to businesses, X%. million fiscal Device of between of X.X% net Med to range XXXX. of will be in XX% Tech continue we expect X.X% grow continue the $XXX grow in Med of and each million, Within We to and the range net X% range to expect to over

margin it gross expect adjusted of loss fiscal to continue we 'XX, $X.X XX%, expect per of to turn million a in that, zero. Jim. in and loss share to And $X.XX EBITDA to in adjusted be range of the expect continue $X.XX. With to to to XX% I'll we the For an the finally, to continue back we range range of

James Clemmer

Steve. Thanks,

will focused Looking aimed driving of a balance at on strategic to the we year, of number key growth. areas business, remain our the of

first expansions, by excited increased market we opportunities very exist product that geographic recent be just to Auryon. the on total markets our within during hospital from X In setting. with addressable with roughly ago. Starting years our a Tech the billion, quarter new continue We Med momentum leverage particular built drive continue billion our the now $XX the the will and $X growing focus penetration segment. With is up to U.S., to launches

customer new expect also We growth.

launch catheter. our attention CE the millimeter in a We mark can As of having recent a QX, and in result, we received the shift of EU. Auryon Auryon late XL X.X now our to commercializing

beginning turning As are XXXX. with year with expansion, any release in later geographic limited full a new a market to release fiscal we before market

we driving and We and extensions PE continue supporting we continue develop move line we to to AlphaVac forward. With push of new adoption data commercially on mark ahead focus launching countries. will clinical as increased product U.S. the as AlphaVac, in for CE

high-quality in support continue help adoption. clinical products to data, invest benefits will the to We of long-term our highlighting

calendar launch for NanoKnife, product the expect will code course we and refine we treatment. drive of increased that end we XXXX, to with improve to which by a year clarity adoption in FDA prostate usability. And to continue specific to enhancements U.S. the the pathway push CPT And new approval to of we reimbursement expect lastly, addition, are the for pursuing the the procedure. after the In over

clinical with AngioDynamics, the quality place. future we portfolio We the at are regulatory as in here that about excited have and the our well as very commercial, strategies of

questions. position years We line up in come. With we'll to are the drive growth fantastic a to that, open for for

Operator

Lichtman And Instructions] line coming from with our Company. first be Steven Oppenheimer will the [Operator question of

Unknown Analyst

on color how guys my you from on and trained it? provide Is PE. field And going, using in launch is there Amir is the was further of first for accounts AlphaVac, ramp as can any AlphaVac such This the question Steve. number physicians

James Clemmer

Thanks for asking.

study design the we our into and call, we So that our feedback we enrolled. We the lot. that initial really by being by comments learned APEX that elements what were factored I expected that the the were and study on received received customers. being in the learned we that AlphaVac a from line generated during mentioned We had data good sites met the APEX with

elements Some design important. built is into of design the which of intuitive really we those handle, the

reducing are AngioVac they we there were tip while proven other go in steerability a of from PA. And risks the in the that lot to said, that ability in then year. levels, more funnel left right catheter a Doctor manner. wanted simple board clot As have efficiency meaning remove a raising burden way if gave Vortex our time to efficient the Control, mean chooses. a to It's tip doing on procedure. many innovative very wirelessly, comfortable control procedure, then for Vortex funnel work a having wire, a physician to had without a with we've also and device the been large the and I

those built we our feedback. in during it launch. prelaunch We really elements APAC, now design now heard So full our are some of and hearing in. good and the We're

and measuring we process, have And asked we're have us their and really great a us we new pleased our measuring, we're how through know going customers approach But interactions, for different process. new with We're customer like take-ups really analysis closely, We've we've good we excited you the watching that as as really believe, competitors gotten shift get ways treated. All interventions. we from we're in products But patients people, of X PE with that to well. we're the lytic the safe to know X therapies all good, going these to there mechanical field. move based So are really earlier, many These towards it. feedback really got old out feedback. customer value X good and results.

Unknown Analyst

particular, on you can and provide market? hospital go after just there initiatives that in details opportunity, Auryon more also is market you're what targeting, And to the Great. any

James Clemmer

can. I Sure,

bit, a launch X years It X ago, almost we back XXXX. years was into vac just COVID. months the not process over was and And total September than world kind we're different ago, device to our companies and did normal dialing little back bringing a So of too. the be full of of going in. lot X remember, of step Auryon, to the stand new hospitals that down have products running Remember,

that first were OBLs and in getting were first the OBLs. customers the served places demand the our So were we

back hospitals our OBL would seeing was now hospital that to it had be. takeout. than So of business the the we of normal And ratio kind business, higher are thought we're to

really team, focusing it focus and So is They already more the hospital lab it and in of doing hospital. those of the OBL may in used the in they've works. have the Many on it know high shifting because have have our all with demand Auryon customers want it. come familiar you in we're now a those to

more So for to care more are customers us. modalities think this because even could getting and we're time, good really focusing feedback It's important long-term more hospital on stable, us. device. the And provide unique an we're we shift, over Auryon customer

So also so. and we profitability a the We're mix we're quarter time each hospital do goals bit that raises hitting each we shifting thought. our

So good it's a program.

really executing well. is team Our

Unknown Analyst

that, next expect has -- couple a And again over you one the as -- ramp provide just you my can transition color on a potential just color follow-up more any Great. ramped brief And you the think of you like years, savings gross could the margins last that year? complete? in see like manufacturing on to Have you for transition; this on the fiscal side. the on any one

Stephen Trowbridge

this Steve. is Amir,

to So mentioned, very have according pleased our we going We're plans. manufacturing is in the Jim program to transfer place that. see as that

the in announced when program. see in this, comes the and mentioned margin had benefit the we're we first we margin real gross of end As gross really that at that to going change

wanted of that ability to out get when out areas costs the those the have So then of of and to we get overhead take some we out.

being for AngioDynamics to this not So back go to program. That our to going for look is you you margin in said, results gross quarter, gross smooth be ramp overall gross it's comes a really from coming if when margin what strategy the at it margin. that

our the fact saw Med line. overall margin to higher-margin coming quarter. larger have revenue coming gross We that expect that We a this accretion base from from we portion that product Tech see of

We are absolutely gross in seeing benefits that mix driving margin. shift

at as overhead be products take we preparing ourselves we we we're paying that of through a some of for bit about as think we doing it's get to the will step transfer seen those which still product well can really our for for that. Now to lines of manufacturing been the and you're to until we're the by see of margin to program. our that drop line. move. We've while looking structure, to offset little all then able fact that double that million costs. function overpaying we But going out take to definitely some taking of process going once haven't manufacturing said, those going as it's And out, about, bottom hit that the discontinued or get eventually that We're gross we and end talked of overhead $XX

Operator

Genuity. Next from John with Canaccord the are of questions Young line

John Young

October quarter. you then -- the going time the also, to comments that Will on without launch the code just and on CPT date initially how the the the initially just just Committee? you price. would start then the Congrats the without are pathway. you think -- around Editorial NanoKnife provide this And you from can and commercializing launch for beyond line the about want to that I

than disposal do just CPT take you currently? a the If code, X premium there? get Level other price the higher you Any you for prostate the disposables would could

Stephen Trowbridge

the for question. thanks John,

said, we've for really process parallel specific that the prostate FDA have to of get the working with after we reimbursement. process as So the to and going able indication we've path been

We've and time process. in to been the linear parallel hasn't path line. able bring things these it So been a

it's process you you reimbursement. when know, really a As through complex go

on agenda. be very were pleased we the So to

the they'll there you that. Jim hear is the a the As code Rock you get or and reimbursement be have cost, time full to we're you they process a little to while either on put don't get decision, then your code, evaluate the to there waiting decision said, it's go Once process becomes in where where and your the before place. a going then through

certainly have and this launching get as tell around product. in launch, the the back look, details, of question we'll So that. To about you we're we process your more

about NanoKnife, the the so it the has is technology of community growth the the One XX has we've uptick indication patients. the urology NanoKnife, with that months talked seen the things been that's from of prostate the from urologists that adopting those cancer general coming about we've course as last or of driving over primarily to treat

in as of So through that. the end us that get get was we're enrollment, the go expect process clearance procedure. working clearance. That allowed filed We've to the FDA the through follow-up calendar that year. XXX(k) through we get to preserve, what through around And of the Jim for now said, the to

where going a will we the end numbers speak long to don't to think through to come into commercialize want that really process are that So be we've it. I we've of been the reimbursement. to all gone while, while continuing out

getting pricing. a then X FDA, complex the then coverage all huge terms of overall that the to a in part of this product, give making we've We'll terms that indication put and of sure But the in adoption from coding, the expect details to NanoKnife making don't go getting are we market. plan of forward. I I place drive in our going things sure been that the is we'll whole that's the process other there's a and to be said, market we we in and that been launch there's doing one the work, way really awareness that whole that increase in through necessary and process. comes as would change or commercializing reimbursement has think As overall how to know necessarily how you with more

the been All is plan, of pretty and going far. we're those plan our with into pleased so way the things built have

John Young

to flow cash this burn had your just expect just I profitability on It breakeven? was and previously through Okay. just believe. know 'XX. cash you Great. Can take positivity. in I pathway million, ability still And flow the walk quarter. just in to Do pretty that $XX you year fiscal significant, cash that targeted us you

Stephen Trowbridge

from Yes, John. nothing our Absolutely, different expectations we expect that's that. what There's were. to hit

As with was us, utilization quarter we as different. it line said, highest was no companies QX most always expectations. exactly 'XX in the cash also is of is with for It our

things and you've got that don't QX We've royalty paying insurance yearly the to door that to That as with of the QX our premiums all is your out, things get payments year. compensation of goes of deal all balance your that the the in you're move of the that Also like minimum paid the D&O in goes you have high you incentive Some QX. themselves in some commissions all out insurance. got cost into rest the repeat salesforce.

right So this is where be. we expected to

think I we were signaling that.

By that. we're the $XX target million where from QX. year, this still end for we We expected million of in to use ended to cash $XX around on

see you're forward. the to that going going same expect So utilization nearly not at all

we going of the In for to turn cash year. point QX same kind of exactly be to into at cash we'll we of then to the where increase expect is to get expect the fact, 'XX, the flow course move QX, again X to corner as be positive. And FY That's cash this full the that highest of end us. year, X always the seen. source over quarter and we've what

John Young

Maybe here, squeeze one too. I just could more in

Device. on the Med Just

to comments the out So F pushed the timing, to expect we XQ. the some of revenue be should OUS on order

Stephen Trowbridge

right. think that's I Yes,

we're to about in distributors business, the talked where international as direct, we're in primarily contrast here through in primarily U.S. we've our the fact, in think I international with direct the U.S., we're market. all

those takes and mentioned, be and puts choppiness timings QX we in. order of Jim a there's also So some to going have in terms comp. different to when expect look, come

getting expect see with expect Jim the rest quarters NanoKnife those looking you're initial in saw you orders of year-over-year for definitely were. you're when at order on thing, at comparison forward that It's it's the and going in come that, initial yes, had you that to QX the when They the mentioned, distributor online growth not that level purely basis, come buying QX, to year-over-year distributor So year. international of the different that a QX. And what through just business. One distributor future at than we not QX. in in looking percentage had same as in wasn't they orders it some a that those

Operator

Chen Our is next from the Yi of question Wainwright. H.C. line with

Yi Chen

expect Could level additional the you expected of the us kind launch for And U.S. sales Europe, color, you in sales achieve of the what similar in trajectory Europe? give for roughly do frame time some your Auryon Auryon could

James Clemmer

Jim. is This

for Auryon, awareness a our lot globally. has kind Since the and good been of of occurred So a job building data that been we've done has team really There's published data global. of some product. launched Auryon of that's

Some own parts Auryon the world we've last familiarity physicians it. run gotten used held in have our Europe. of over And series and scientific we've few over with in years, the other of those symposiums

think how colleagues U.S., it's And from is. safe the so have how efficient of works, gotten some how in I've it heard a of it lot to I their physicians of use global awareness here Auryon.

built So interest Auryon. there's some demand up the we believe globally by already in

is mark CE getting So we're now important. the

talk we people. now it to So can commercialize properly,

then year. building call, we're geographies, roll a process, the this a full As entering we launch on you'd do, said to as expect anywhere, us limited to launch new

that uses We same U.S. PAD the also while market as do not the it as the U.S., and they treat being PAD to is conservative. percentages here The atherectomy in in mature European

that. So aware fully of we're

job the realistic So know. encouraged also have we demand we team do commercializing interest we've really really the in by set, a goals but our will Auryon. And see by that good we

that going. over how expect process is quarters X as we So the updates give to to next you

Yi Chen

And to timing it has of sales been issue issue resolved? has only with international it. Got the to due the And orders, affected NanoKnife? of respect the

James Clemmer

mentioned they the second last with higher when about us, buy just usually These you Steve in repeat. capital get doesn't on they the off -- disposables some percentage, who the call, usually that we are know things with in build a starts a ago. that someone some

are there orders their needs normal. fulfill During channel, of year, through are the the distributor that course our those customer

little bit had a So that. we of

little XX% XX% ago, We in expect think had will We everyone up it QX. the a QX, in told after that, a even Nano. normalize bit again, side, device On it don't Nano Remember -- the which level, I QX. X% like around we're did. year

flip. We that here to almost expect

to QX and that little gave So that the Steve get probably softer. area. probably back stronger started in guidance a

Yi Chen

could just future, to clarify correct? recur issue the So timing in the

James Clemmer

hope have a we you little time do Yes, not. on, Any choppiness. a bit distributors new that coming you

levels We like think see don't have So think smooth but as the We I we over that our the much really on, at done have out. products out, come are our They their a distributors of will on, to way of teams time. helpful. our business have see you'll these training getting love some we over folks to also smooth come this bringing want don't globe, grows, clinical do adopting help. couldn't that it. into stock. And we around they've as it time, technologies, the without

people we of locations. minimizes there and these use it our put amount So our to people have to the maximizes working of

over So when you time, to would it there's expect out. I smooth it, do choppiness

always bit. a You little have

Operator

the remarks. this to management you. closing floor for Thank back turn I'll At time,

James Clemmer

really has we're and at pleased operator, the with work AngioDynamics our team Thanks, that here done.

do each in footprint. globally. Thanks and a who really our in running business, tuning maximizing our have serve of all launches, new normal thank approvals also today. plans. people, regulatory new are great same expansions, shifting things it our at These during team catalysts product new our catalysts the you geographic have and ability We time. we We and we're on of going important the We do meet we're the calendar for that of couldn't lot XXXX. Those job while, without we'd to them, to knew a customers manufacturing include our year our of

Operator

today's This will conclude conference.

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

AngioDynamics (ANGO) 3 Oct 242025 Q1 Earnings call transcript