ANGO - Earnings call transcript Q2 2025

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Operator

Good morning, and welcome to the AngioDynamics Fiscal Year 2025 Second Quarter Earnings Call. [Operator Instructions]

As a reminder, this conference is being recorded.

The news release detailing AngioDynamics' fiscal 2025 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

and not certain consider measures trends during company Management time. to in in uses assist also include forma goals and Investors over superior company's should pro pro as with slide measures investors and underlying this operational addition to the for package on in results also the the offering that of believes non-GAAP financial non-GAAP and review The may the GAAP. analyzing Events performance, available measures these to or call. the section measures financial the Investors accordance A is insight under forma these business prepared substitute will operational these a financial reporting company's website company's measures and establish Presentations. in to, as

conjunction in during discussing release press be the results the should conference morning's this performance with call. and operating presentation financial read This company's

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

James Clemmer

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

for Steve our our AngioDynamics' balance overview line our questions. with second opening Officer. I for Chief call begin year me of by of performance, I provide financial providing analysis the performance. outlook today's detailed will Trowbridge, of Executive President and Vice and the is will a Financial before Joining on quarter conclude call today's will an recent then Steve the

Unless today's exclude and a growth rates and support June we and results during February basis, we otherwise which results catheter in noted, XXXX. products we the the the discontinued that mentioned the Midline on dialysis are in February Radiofrequency and divested in forma XXXX Syntrax divested and businesses XXXX, call of all PICC products and that financial that pro BioSentry

quarter. of We growth approximately had strong revenue a representing very worldwide $XX second X% was year-over-year. million, Total

segment our excellent growing of Tech Med XX%, by platforms. had Our led yet another growth across quarter, all

million with show million continued to Beyond $X.X the results profitability, cash flow. strong line, and generated top in we $X.X respect of to operating adjusted EBITDA reporting

half now the performance of full year, on to we delivering profitability. expect Based the our first illustrating to on and expect year, of half our we EBITDA adjusted for in positive sustained the execution deliver momentum goal the continued back deliver

an our Auryon over prior with Starting sustained on its results, update year. delivery continued business. Med of approximately solid XX% the Tech on growing

We revenue have higher continued us customers. penetration from on allowing by product, a with hospital better a strategy drive and taking execute increase mix share to to of our

our mechanical business. Turning to thrombectomy

a AlphaVac product large, and we both in this and which, AngioVac portfolio. fast-growing, with to innovative quarter synergies lines together approximately year solid portfolio X market. broad, over validates second AlphaVac very XX% provide competitor unparalleled AngioVac the an high-margin further product by of the of cement last strength encouraged combination, this between [indiscernible] to are AngioDynamics option, and these performance leverage the and will as continue AngioDynamics in We the grew of

for of following late April in highlighting the CE revenue clearance solid performance saw treating marks our early its sequential growth, third our we XX% in PE the increasing by also in AlphaVac, adoption with marking quarter prior year. Beginning quarter and versus over with This May. consecutive revenue FDA

excellent our Europe clinical by within very As force, noted by June. both as positive progress committees. of existing hospitals by in pipeline part utilization on we the as U.S. moved a PE, encouraged in number full analysis We making data call, new fully are growing AlphaVac well as and is release accounts the seeing being trends customer trained the we we our physicians a and market sales and within willingness evidenced of evaluate our to reviewed for value remain AlphaVac into as prior supported treatment customer are of hospitals'

published quarter of in driven commercial majority focused the the data December, data, trial space. efforts, late within have Cardiovascular our for As one this peer-reviewed were as in Interventions, growth APEX journals and our Journal expected, our the of APEX with strength U.S. In of premier was the the vast of been successful. very combination in from Angiography in the the Society the

The highly effective and PE. the in May confirmed in announced that results safe, publication efficient which patients XXXX, highlighted AlphaVac outstanding of with acute risk is intermediate treating

the and in to value favorably reduction in studies within burden publication baseline, these to current the This reduction another support like the committees as as many yet leaders clot decision-making their analysis clinical new community data. a Importantly, which the point XX.X% when physicians the use should catalyst of paper technologies. from highlighted X.X% process act validation and IDE evaluating hospital market is reported AlphaVac's compares

proven The to catalyst for AngioVac. be AngioVac. for indication has to a PE Turning AlphaVac positive

and physicians has increased to This doors our utilization and drive approximately for has has engagement, revenue it entire to helped growth of physicians, thrombectomy grown, our opportunities awareness on As portfolio. new facilities created to opened the of organization mechanical which commercial AlphaVac XX%. educate

of broader growth to forward. continued growth year-over-year moving during this expect drive see adoption While XXXX, don't we to the balance of expect do we level

has within a Tech NanoKnife, our exciting of lastly, developments. recently segment number Med seen And which is

of evidenced encouraged by the to be the in the continue revenue We in as within particular, in quarter. by XX% adoption and utilization trends urology approximately community, growth NanoKnife, probe in

are all of long-term drive which exciting did. adoption our on multiple that X key expected NanoKnife. of XXXX, necessary We call, the we growth NanoKnife to milestones calendar outlined and last by identified As we achieve for to key pillars for end

regulatory second, reimbursement and First, specific for clearances third, access; and increased awareness. indications; market market

X since last our all made update. fronts have significant progress We on

clearance, regulatory respect market, With the this and unable previously proactively indication do. With tissue December. expanded ablation in system NanoKnife for the clearance early can for prostate we've hand, in FDA now for the we an been more in train from educate that to we received ways procedure to

in a market related code, Category the respect reimbursement been January physician access, meeting I be prostate CPT mid-September, the granted specific The CPT new thrilled for to of prostate in I the October, CPT to codes will with new Panel procedures. IRE and With a to liver. value new units we XXXX. X, participated have and in were to create attached code we treatment relative proposal effective a lesions to in and Editorial In on

both to be continue with that across widely our available initiatives private ensure advance work commercial market to date. payers and payment reimbursement We access effective in of will diligently and on teams coverage, the coding that

effectiveness in to for NanoKnife ran respect XXX intermediate men both of marketing for prostate patients a we the risk outcomes procedure, the with NanoKnife its with patients, prostate in quality XX cancer strategy of which endpoint, the targeted and free indication. education NanoKnife from in and the began trial of the PRESERVE the in the area. XX our our safety performance At demonstrating urologists prostate clinically cancer, with tissue system support clinical to tissue any XX% PRESERVE included enrolled sites. prostate ablation of across patients cancer. evaluated months risk patients generated of of primary post intermediate PRESERVE pivotal expanded significant met we highlighting and of clinical our prostate were Finally, ablation effectiveness study. during

it as they cancer are effectively are study outcomes. When treating urinary forced life function. treatment cancer maintaining relates to and post particularly sexual options, treatment, quality demonstrated Just of importantly, quality of to extremely choose the have evaluating the or men prostate life the and compelling between as

a in treatments be in that advancement traditional treatment. radical radiation targeted demonstrates represents and dysfunction meaningful following cancer such treatment, While erectile this of not result NanoKnife significant therapy need approach in men trade-off often prostate as make urinary to incontinence forced rates and prostectomy

In the men who is intervention. NanoKnife active after surveillance with months have treated of seen sexual did higher dysfunction with PRESERVE undergo no not or rates study, men XX any than

XX% in more seen of XX did the months men procedure. suffer clinical validates not we urinary XX PRESERVE efficacy approximately incontinence The increased involving impressively, have study clinical than post over as robust patients. Just studies safety and X,XXX

in that end Las expect In Vegas the featured Meeting the over addition the we data be will the at PRESERVE at XXXX. to Annual AUA the April of publications months, coming

As to has ground for to and U.S. the and to reimbursement about very are pathway. to solid infrastructure, the with we of With line well-established a product redefine users this forward are the of validation standard sight the commercial NanoKnife, can we in the what patients look and are other a foundation efficiency be NanoKnife specific trade-offs. quality-of-life therapies, we prostate significant indication future potential hit the of care is need deliver efficacy, we have of of able men. fantastic health paradigm new confident it outcomes trade-offs and prostate and its historically which that can limited make physicians widespread with adoption the therapies, In for NanoKnife its to a patients with believe unique provide focal of action. and force radical combination treatment We that these mechanism a existing of to established a then running. that excited alternative

deep a into NanoKnife call. treatment provide how following with We Technology of earnings this are excited and Event can the dive cancer revolutionize NanoKnife very Virtual to it prostate

was our prior year-over-year. Turning Device to our Medical Device segment. Med the U.S. flat year about to approximately business increasing X% with Revenue

significant tracking adjusted importantly, reported execution, full deliver from of strategy In per flow. $XX,XXX improving results million second quarter to was loss during the operating drive compared towards is a towards we a And $X.X another $X.X loss EBITDA quarter, highlight the during $X.XX of share, and loss second our step per plan, commercial we EBITDA our we for that cash fiscal We sustained of million the year. XXXX. These now XXXX. a of fiscal Beyond the generated share ahead to $X.XX to of positive expect quarter illustrated EPS profitability of of profitability. adjusted adjusted in

Before Steve, to a I quick provide turning our outsourced the manufacturing. call over wanted to on shift to update

more which portion change to that, manufacturing expectations supply the allows us overhead make open, overhead of those resilient. continued take track And have process to decision our through our and flow chain ultimately will to which process. with have bottom as us out Queensbury the and our line. part will ways optimize we to a costs, structure find We to facility to allow The keep of remains on made our fundamentally our

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

the of quarter performance we about excited the half our very momentum the been during are able during We generate have second year. and to first the

in over over months achievements efforts the of X years last the have Our our past X organization with combination AngioDynamics. the transformed

market Our R&D, and strategic driving paid through in growth regulatory markets initiatives portfolio. within and large within our research, clinical fast-growing Med submissions focus access Tech on has off investments

sheet, through balance are our $XX technologies initiatives. providers our our and more billion $X health operational We just from our shareholder efficiency expanded to but have innovative to market, now bring growth in position XXXX. delivered have same a while have time, value. stands total Supported pathway which patients, profitability to billion we of successfully more at also improving globally, in up fantastic the now strength care by the we only accelerated at addressable creating over we Not

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

Stephen Trowbridge

everybody. Jim. Good morning, Thanks,

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

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

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

total quarter, revenue fiscal second XX.X% compared ago, the the For illustrating our platforms segment. revenue strategy our of to revenue Med comprised Med of percentage total our year increasing Tech of on execution base XX.X% of coming our our Tech a from overall sustained

last to of during revenue in million XX.X% Auryon double-digit year. year-over-year of growing $XX.X anniversary the quarter, consecutive in contributed following the XX the platform its launch. Auryon second quarters growth has Our compared delivered now each

of XX.X% second quarter million, and XX% quarter includes the AlphaVac first sales of XXXX, pleased for Mechanical performance increase to XXXX. from generated AlphaVac increase of quarter, the during of of over XX.X% increased thrombectomy revenue, AngioVac We're FY of the resulting million was year-over-year PE. see continued year-over-year. second for and quarter an AngioVac AlphaVac adoption over increase $X.X the of which which XX.X% the sequential revenue, revenue strong the an $X.X

As of portfolio. the our AlphaVac Jim of and combined illustrate strength strength mentioned, comprehensive thrombectomy AngioVac mechanical the

seeing X of we're offerings. feedback AlphaVac increased receiving regarding universally positive product very well We adoption AngioVac. definitely between encouraged the are by the We synergies as as remain the

by tech markets. a demonstrate led although X competitors, thrombectomy our ability market be #X. mechanical strong take market to share, continues continues currently positioning most one us to large-scale med The of AngioDynamics fastest-growing as is And the the exciting, to

excited this by future innovative are trajectory portfolio. current prospects led about our market We our and growth our in

revenue increase of the quarter. million, $X NanoKnife's NanoKnife quarter during year Total X.X% increased was XX.X%. the revenue an over disposable prior

declined As on for they year And be the the prostate in sales of the throughout trajectory line with those in of to projections during half with during track were We year. pleased what for we've for the very XXXX. capital the sales the in expectations, are we our quarter. expect NanoKnife discussed year, full were quarter and cases approximately capital XX.X%

October reimbursement and indication prostate and contribution for milestones already While expectations we were built in in following in the our decision year. positive guidance for from expect received fiscal are increasing these to received into our December, year NanoKnife the XXXX reflected see the

income Moving down statement. the

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

Device fiscal XX.X%, XX.X%, associated quarter, Med was of outsource of revenue. Tech pressures and transition driven XXX increased inflationary increase decrease a primarily the the costs points, basis an gross was with primarily AngioVac margin by For Med associated second driven gross to XXX mix points, basis manufacturing. margin by with

R&D. to Turning

compared studies. in of We XXXX Tech second the expense year-over-year and of growth year Our initiatives the to of APEX related remain research primarily of of including quarter or timing, sales support to $X.X X.X% is ago. XX.X% to committed development a completion million decrease to was investing million during sales The $X.X FY our long-term Med segment. and PRESERVE R&D clinical the our or

million, quarter for a SG&A million XX.X% $XX.X compared expense of the sales ago. XX.X% second of FY XXXX of year or $XX representing was to sales

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

cash Turning to equivalents our program, on XXXX, equivalents, XXXX. in cash cash $XX At sheet. of million had compared an at utilized balance cash November and the million $XX.X repurchase we XX, in and our update to cash August XX, stock inclusive in

As a reminder, currently debt. have we X

million. 'XX, cash, of million in $X.X and expenditures units Auryon of to quarter fiscal and $X.X second evaluation additions the million placement In capital we of had operating generated $X.X

cash balance the to $XX quarter. to quarter utilize before in the of third generation returning fourth the expect of the in we approximately cash For year, million

end million balance cash we're with to of targeting the the $XX on year July, approximately As we sheet. stated in

sold in quarter of in company year. of we with the settlement and last Cash that usage the year Vascular, will capital February arrangement litigation our PICC we our Spectrum scheduled transition by business last utilization associated manufacturing with patent to connected be Midline and third driven payments with our executed with Bard the [indiscernible] working

capital managing increase divestiture, we during to capital of manufacturing transfer the While expect year the full associated we our fiscal requirements XXXX. back working progress manufacturing during this transition our working do towards since we've as with been calendar arrangement half

balance the capital credit facility. we're revolving strength sheet, a the our addition working leverage of evaluating To of

relatively current increased of optionality addition a flexibility very balance at comfortable matter the view housekeeping, we're we on sheet, and low While one bolsters of balance cost with revolver and amount cash further the that for dilution. X as a prudent provides financial capital sheet the our and a of

we we'll as that model the We next sheet generates are cash year of proving in for balance our to the to capital couple position our full working continue extremely and cash and turn proud manage appropriately management, business of quarters.

execution positive growth year and remain towards with of and being on XXXX. full Through our progress our track fiscal for stated operational the of efficiency goal strategy we demonstrated continued of profitability, our initiatives flow the cash

of XXXX, common purchases to a the fiscal of As announced the million approved stock in the purchased quarter, worth an Through share stock program, repurchase of our $X.X price $X.XX. we outstanding of up million shares. July of company at $XX approximately second end of calendar average authorizing

factors, growth on create balance our make in the investment need opportunistic We our number to our value market as including be shareholders. strength of of to leverage continue to strategy sheet as will our conditions we for further as to about repurchases balance well the decision a to seek

to And turning now guidance.

of our XX%, sales X.X% each of XXXX, to flat, in year of the we businesses, $XXX XX% previous ahead year to of net X%. Med now Within expect sales expect we Med guidance representing fiscal to X% fiscal to about million, be expect XX% XXXX. million to to Tech will between our and range growth the over from of be we continue range For now guidance of the $XXX revenue net down and previous grow to Device XX% in of X.X%

balance a pattern the quarter a of year the fourth third with quarter, typical the quarter cadence with seasonality quarterly second of follow strongest total the to expect being From year. the perspective, the in slightly down the being from sequentially we revenue fiscal

For to X. previous XX% of million the adjusted million in the from to of gain to expect fiscal EBITDA $X a $X of in to to XXXX, be XX%. of the margin now loss continue a we up We of expect range million, guidance gross $X.X range

loss improvement previous And finally, adjusted loss of share our $X.XX. $X.XX, per $X.XX from in an $X.XX guidance a range expect per to an of we now the share of to

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

James Clemmer

Thanks, Steve.

penetration Looking to a half on the a we focus Having year. received Mark expect on setting. the Europe, at increased remain CE key with of of to to a strategic the in full driving now our to to a growth. year Auryon. revenues during business the make balance momentum release focused we QX, will with drive will hospital during of first have of the Starting half particular market year, In the back U.S., we shifted impact the positive the we built which in aimed continue leverage late the areas number a of on

We line will and as clinical continue product we new move develop extensions to data supporting launching forward.

as for we to on our products to support To help long-term clinical ahead adoption. push AlphaVac, will of differentiation of the invest PE. continue continue increased that, high-quality in data, to driving we support we With treatment highlighting the adoption focus commercially

launch improve and continue of product to to we the new usability. refine over year addition, to enhancements In expect course

event and leverage commercial with NanoKnife. expect drive clinical high-quality adoption Time increased on we prostate. in clarity prostate our virtual to to hand With indication X:XX overview remind in the pathway that specific end, for lastly, the go-to-market reimbursement To as U.S., provide U.S. we the market would I be a.m. well to infrastructure And the as a at well-established data opportunity, Eastern will our long-term technology to in-depth NanoKnife strategy. NanoKnife our that the like an in hosting and around everyone

about excited future at the very be to AngioDynamics. continue We

sheet, high-growth work profitable able we are tremendous strength to our and organization growth on markets precipice profile, by to to deliver balance With financial large, for come. across focus our of supported done overhaul portfolio sustainable, to being transform the on of the our our years the

will for questions. that, With the operator, I line now open

Operator

[Operator Canaccord Instructions] Our of line first Young with the Genuity. question today from John comes

John Young

quarter. Steve, great congrats Jim on and a

I prostate event think until I'll the hold later. my question

thrombectomy So really maybe it. encouraging could just that It's made. the to you've I on progress start guys see

of in acceleration and be? First, you what AngioVac acceleration that could think sustainable drove that how do sort

for working? matter effective guys two, then mentioned how pipeline call? a of And are be AlphaVac, really, think What's just here to And on commercial not? What do the Vac you you successful. about What's it's that execution plans? that the

And commercial sneak in week, just that we just a in in question technology your of creation hands? think sector because in here you also, someone hands how your maybe then best getting third here, of this light saw of value within And terms monetizing the to changed what M&A of too, that? versus [indiscernible] the then in the do plans about else's in

James Clemmer

teams for now thanks going our on are support selling question. few found both things team pointing well customer trained back to the It we AlphaVac. synergies really we've clinical and marketing is fully John, with AngioVac And the from us. really and learned. A and our

getting "Wait, before. but terrific. lot that we're it think effective then door along example, to of the on saying, way, sometimes doctors give our teams and AlphaVac, is for other, this safe the one So also you use. a occur -- either a guys And are why it." I've presentation opportunities of I'm we lot an making me opening synergistic which device And AngioVac a sure so it. agreement. device. not So we seen through selling the have PE before, is a it's sales you are Walk the with get didn't I'll about

our different market. we around we in have both products. out what the products, both selling which very needs really really mechanical that's unique, teams thrombectomy built and the that marketing go And as are are very, So solve selling forward, and both pipeline different

people and getting lot the And join want that, They we we're from already go. our new continue selling resources going our to So a adding skilled, represent who relationships. marketing that We've more space come team, are our John. and products. we're learned join we're knowledgeable that do company as have and to to

So helpful, We keep AngioVac momentum going think AlphaVac. that been both Steve? that's and the John. will in

Stephen Trowbridge

exactly that's think I Yes, right.

a said. build to bit on little Just Jim what

comprehensive learning offering both have are and that is identifiable we We that very portfolio with AngioVac the there to AlphaVac. a benefit

I something finding bit think working that it, some pleasantly sales it's that market about we're last some now. talked little we're -- they're the as together with well We go year of force. our how some a about and of we to the training surprised changes in AngioVac new

As force of full allowed Jim think this said, to portfolio. the us I the training sales leverage has comprehensive really

that is And the pleased that look combined with mechanical the positive at from that no seeing. to so device universally really do on results, pleased device feedback excited. their other the things can AlphaVac. AlphaVac who in is can on We when the progress have AngioVac getting AlphaVac overall physicians our think We're thrombectomy We're us we're chance market you and we're with with has had our The get hands device. their something do.

As we're our a generation. still reminder, first in

of this Jim the we're a continue bit little combined extensions line because really to folks But that about that seeing a to we other we're coming some got than us in we've out some So on different innovate story going to portfolio We'll continue talked gives the that. leverage market. that, that have year.

we data be the published, With on absolutely pipeline, important. is your to think question going Vac getting the

it. kind little some We a that lot in We've top been completed in heavy know market There's through there's We we a of our that. gone of leaders this folks trial. crowded committed. space. a already We've of You speak. performed bit who as are and trials is

removal portfolio. that and is You to products results, we leverage believe particularly the AlphaVac saw on we better some We think is expansion to we back to it to process, how the market. leverage really drive what through other while going are the continuing go than burden Vac and significantly saying that that combined clot before were comes when of that the

us, on the activity. news some lost talking you of were Not that the and about M&A

we're commercial Your what changes always question what us. in terms on in it assess to our that of for Look, means plans. going

the what we're the portfolio, continue and resources think in leverage those continue in to invest as I and and give positioned is this to in marketing and we sales the -- do and combined very drive invest going growth. Jim show that we're our exciting to going mentioned, teams to we that we share a continue to are think that to teams, market, strong player are take continue well we to

John Young

maybe a just then And Auryon. follow-up on

the of And the and the then on you expect? can in opportunity half OUS Just of dynamics opportunity. for comes patient guys ceiling? its you about the essentially that you seeing a on focused bit When OBLs, year, talk quarter-over-quarter, slowing should second here. just the health reimbursement really has this are to reached we hospital I it little Europe maybe impacts [indiscernible] do that know think opportunity

James Clemmer

Thanks, John.

It's off in a proven built is over initial team upon hospitals, the our that things, it And actual Then really momentum effective shift, think amazing from how been don't is. it OBL well. our already it's Quarter-to-quarter couple great year. great X the a it's team the and the going really about measure publicly. start. product. XX really to really focus itself little a shift our we safe to months job talked Auryon off going ago, we in this product did With about focus great of that months the There's a is closely. there. There's I of always great to they're a start -- first dynamics, but

over now. I think revenue, we're it's shows from of now well little we'll our XX% a receive the how hospital customer,

to spaces share winning we entrenched in are those we're there, we from when have. really companies again, don't it win that that other And bundle have products good that abilities

product So the those other upon of we're products. based the ability winning to share our outperform

customers John, bullish we'll stand grow publicly, to new So we the us, talked for shift it for abandoning the that still good time that we're in by we important really the hospital it. us, We're not customers. But OBL. continue is and there. we're The and But Those are so, there. about do we'll continue space. getting opportunities all to

point probably for to the Back who have here, fully knowledge are on I I this been well don't reimbursement, trained. complicated. knowledgeable know John, very business the country in to European They by this. the you people lead that's that give country, if They've space. very your plan all our

opportunity are the distributor ourselves in European establish on partners trained, and market to Our fully ready go based first.

As can't a know, markets. size approach company you our all

targeted that go, and ready approach doing we're speak. a we have We platform to as

details time, on over maybe that. more you give we So can

Stephen Trowbridge

and And OBL specifically or in this ASC there's the years. to reimbursement Auryon been versus know, the the some ] the your dynamics in question business over as here pressures the on few U.S. in [ last hospital, reimbursement you

said from something diligence the product. to this the beginning, we we did we we due expected and expected. buy looking something As it's when It's

to strategy. any derailing, fits last we we if pretty exceeds now. when recently right it it been. we and surprising quarter, bought the you've those of process. of from $XX said that rate and pleased the seen didn't We're to think So with a revenue run changes not in would within us what be X they took that our over terms And And we've over million haven't

Operator

questions next Lichtman from of are Steven with the Our Oppenheimer. line

Steven Lichtman

to wanted to I progress. continued see beginning here. the thrombectomy. Great mechanical cross-selling start the on Congrats opportunities on

X the well of quarter. in you here year? across in of at AngioVac Obviously, expectations growth back your outlook the As the the ahead portfolio is came in look what products, second half for the

how of get couple combined next thinking we here to the look over a the you're sense about quarters. of as trying out So

Stephen Trowbridge

Yes.

on to meaningful did haven't growth a the on show feel with we're that what And we for our specific Steve. very year. we saw contributor portfolio to We half. clearly we we in guidance we pleased that given thrombectomy performance be expect So mechanical that. track We're a the this say as to expect, first

We expect significant well see to growth growth continue full we sequential to the as year. through as year-over-year proceed as

in to we continue learnings those have around that As to the bit. little back refine a half. double-digit be we'll But we continue should see assess expectation expectations your growth portfolio the and opportunity have,

Steven Lichtman

in and Auryon. indication us to coronary. term, are Great. for those? update had iliofemoral I Can to on spoke drivers to already Longer at potential the potential some been of know expansion you near-term relative Okay. DVT looking you where you you

James Clemmer

Yes.

this more perform areas you works. So of mentioned. on a not way in We a of it could just product X front the in R&D We us, little work work, the be That believe us. will could going from regulatory DVT things just it believe a couple the unique well take actually that are really product the on. that clearances but

So talked yet there. program not a we've up open pathway a to about there

effective We've understand believe process could about, the in coronary We complicated. be pathway we it the really It's there. space. also talked

that make Does a great So well at looking perform our us? for it will sense opportunity. We really really we're that It's think market product internally. space. in

really, So our energy the our if we to resources. and put that's right got to place decide

also came from [indiscernible], can well. some of and effective think, crack products study study showed. that the really this we're as interests year like showed that that too, the calcification us we [indiscernible] We last what out at that do, That cracking can

space. that people lot of a we in there know, interested As are

well, runways pursue PAD is Steve, got, the we've for taking But product X performing focused that's today. what is to over we're So really there on least these where us at time. market, share in a

right detail As we many when you that they only our more has have make size the them so on know, to to and shareholders opportunity apply We you a we'll growth to give us the made. decisions our those deserve, sure we want area company for resources. give

Steven Lichtman

then I margin. lastly, gross And just, Steve, on guess,

and guidance. How The that that? should be quarter year? maintained down? expectations that the we thinking Obviously, first the Any half you delta mix back in half in in about full in think the full full would ahead year XX%. bring came coming we second are year would north of of the Or conservatism

Stephen Trowbridge

Yes.

mentioned. driver main we saw the for that that the mix you is the performance So

And so margin in the growth continued in guidance the in the will tech half. back tech uptick be gross to a tailwind and the

Rica, about The other take out until overhead overhead the is the transfer. we're to part working get of it of accelerates we manufacturing us is we our happening, that's structure to kind in Costa and able and the through manufacturing unabsorbed additional dynamic Queensbury out as as of some we're get though, having transfer thing talked them paying those double products costs

does half. the under-absorption a get transfer. for have back going where in create it right of it So track as here program We're of but year our structural the manufacturing that we 'XX, some full to benefit mentioned, the impact on we're may

those for Benefit long-term is overall which mix So strategy you're to from going gross see shift, dynamics happening. our coming X margin the really AngioDynamics.

If base you our revenue of this quarter. remember, our Jim when our segments, XX% we reporting in of revenue base. mentioned, it's X first than started Med was XX% Tech overall less

as rightsize not overhead transfer of to get as then see out benefit of line. take that those to structure, that the seeing gross we can the shift. some And bottom through overall that manufacturing going the mix drop and you're as full well costs, So you're margin

Operator

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

Yi Chen

the limited EU you release on comment of in market a to you Auryon the plan countries? transition from to launch? when And market do feedback Could full

James Clemmer

question. Good

setting been feedback. attend, Steve been good symposiums has have really participate. team of basis. good scientific our able We've able semiannual on really I up to both to European done job and So a a a series

XX we've developed leaders the of our lot symposium. to understanding thought A over good the last XX So market. have global months, really attended the of a

Some have their of studies tried of their reporting device, some findings. the results and our they're

been helpful our our So a overseas, spot which generated where for interest target of and for put of it's to lot energy us best organic to teams kind is. the have

really team focused. our So is

market. we to We that CE got through the we access Mark. regulatory to clearances now get that the have needed And

be this expect that revenue. a We year. small this don't lot our to have will single-digit mentioned It year, a we contributor

We're size our come the They're this revenue selective we But company target to a and going fiscal well performance prepared. get see year. a again, we're in how see then in, we'll back has team and as there, that But our in product. great next You'll demand going product. interest into a half limited where is more amazing year. the to job of we to resources. our do with very of know lot And there's

Yi Chen

could for EU AlphaVac RECOVER-AV compared of until of RECOVER-AV trial? in for sales talk Got limited trial about the the of the PE status be the to you readout it. AlphaVac U.S. And the expect from PE? And to you do

Stephen Trowbridge

the starting in readout sales with expect limited RECOVER. I the until to of question. U.S. So the I'm be the don't last

commercial to in question continued talked we continued us in as APEX, AlphaVac some the the the primary again, on publication ourselves think this our invest your product, continue of portfolio about, there support very thrombectomy. RECOVER, and thrombectomy helps in to We is for part really We're we focusing in space. continue think U.S. to area, execution for continue commitment it's that the as data of around support interventions European physicians the providing and with who to adopting to cement that combined interventions data as in going we're ongoing, how from player own just I globally. our important U.S. around a [indiscernible] here moving that generation are here. In medical is mechanical to what to

we're going we're So where with excited RECOVER. about

Operator

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

James Clemmer

people Time, this for join Again, Thank for a why at opportunity we X:XX intermediate risk today thank us the treated. product prostate to for with you, cancer our our effective We'll on I'd is Eastern really be operator. call. everybody to believe morning, NanoKnife presentation on participating special like you invite to

dedication affected want and from And today. also the our I in wildfires this to their hope other We by terrible to got we're thank of I safe for thinking our the be too, want folks employees West they that mention, serve. customers, the that and hard work Coast tragedy. all to they also terrible patients the employees our

us Thank joining Thanks you, for today. operator.

Operator

Thank will conclude today's This you. conference.

may lines disconnect this You your at time.

AngioDynamics (ANGO) 8 Jan 252025 Q2 Earnings call transcript