everyone of call will XXXX. operator, our overview brief remarks you the Thank my performance. revenue year start to welcome fiscal quarter I second our quarter and second a of with earnings for today
million X% total of growth representing We generated XXXX, fiscal of of quarter second in revenue the year-over-year. a $XX.X
Our increased year-over-year, a total revenue decrease by driven IVD X% or In-Vitro X% in diagnostics offsetting devices, medical revenue revenue. was in growth which our
contributions as two as of sales driven products, these significant performance performance was XX% of businesses by increased sublime in more almost our our and well product closely, from medical at coding Looking areas with year-over-year, exclusively device our pounds our segment of from sales, region. which
this and product growth half the revenue of our sales of than pounds in saw medical sales products sublime more contributed Specifically, we revised quarter.
quarter, the performance were pleased prior in IVD year segment, the our with in we year-over-year our comparison. sales given second And
the we revenue In quarter. areas second record second key generated fiscal across of solid reported in As XXXX. the revenue business our the IVD performance reminder, in a short, we quarter quarterly
an update objectives three quarter with on But through performance, operational me of walk XXXX. to beginning our second of fiscal further detail. our updated an financial strategic let our guidance now for XXXX and in recent shift will performance update Tim fiscal each
objectives for a As the reminder, PMA, follows; achieve Approval XXXX and Premarket efforts. fiscal then SurVeil or as Abbot’s Balloon, outlined FDA fiscal Drug-Coated commercialization First, at for beginning our our to that of year strategic support the are we
Second, cash platforms. Sublime to flow of third advance initial both and and Medical Radial offerings Arterial commercialization our Device from revenue drive businesses. Pounce Coatings and growth IVD Thrombectomy to And
having respect in exceeded mind, our that along to our each. With challenges our now I made ultimately to navigate in SurVeil with PMA progress February. the We early project objectives call these second path securing the shared on progress three to our earnings Balloon discuss important unexpected quarter will we began and Drug-Coated expectations for
from received letter the and guidance As that XXth, which a was PMA announced in PMA that on we January we must a our that reminder, FDA our added current application. to application form, provided be amend information approvable indicated not on its
for use, revisions the to instructions biocompatibility, additional data patient Information categories and was FDA requests within related including general that related labeling, nonclinical two and some testing. to labeling, including questions of devices our language and requested
efficacy and submitted, While including see clinical TRANSCEND XXX to did engineering, patient, safety pleased data letter development, clinical not this and was our human the animal large that we question we unfortunate trial. from data an that disappointing studies, our importantly were the most and the
make were March, able FDA engaging regulatory to our teams regulatory and meaningful strategy, and inform this the focused to February quarter. During during progress our clinical SurVeil on and with
data an the specific requests, to submit PMA amended questions Our in the position prepare and agency’s requirements to to team’s this was order goal and in primary additional over application obtain in period us an and clarity address to approvable pathway form.
our addressing advisors, obtain team items approach regulatory prepared for with with closely feedback proposed in FDA’s intended a formal request informal engaged to our representatives, external discussions the from submission on in team. Working then the issues FDA our letter review the FDA
queue by process. agency’s This was submission done
we via on the last on based feedback we shared FDA’s call, normal in anticipated receiving process our proposed this earnings formal timelines. on our As May, approach
obtain second the both a ultimately submission feedback, in all this fiscal request our quarter. written request occurring as complete and With the the and to our FDA’s of of backdrop, the to prepare submit our feedback issue issue, with was ahead agency our response, details team and able of then submission discuss formal written before end expectations, meeting FDA’s
interaction, obtained from of have submission level the and the now response to PMA of additional impressive agency to in both level with this amend this our issue and the to With content addition have request. in the process clarity application. we are additional feedback pleased required successfully feedback content In we the a
requested to and feedback existing written are the FDA’s was clarification the request, on our pleased application studies revisions by completed, our we verbal PMA our to FDA well focused have proposed in labeling. the that as Moreover, amend additional submission that to see on as biocompatibility issue we previously
the quarter. Based expect studies. preparing our this biocompatibility amended which application, focused feedback, clarity, fiscal With submit for do on PMA third we additional this our to our team been we on not need currently anticipate has additional during
on and future the currently ultimately XXX-day an period the are PMA Looking pre-market render progress. decision a pre-market, to look we the in approval and amended their of review quarter anticipating fiscal under of on FDA the receipt guides a the purview of FDA’s ahead, timing fourth to we process while our XXXX to updates and providing reviews forward
Thrombectomy to were continued a supplements of during quarter, second prospective Radial customers. and raise Pounce, the second the educate Arterial our commercialization platforms. to objective, our Endovascular market Pounce Today awareness and From Turning two the in team standpoint recently initial dedicated education published to our leverage advancing strategic that
procedures their these existing the Pounce potentially devices. simplicity, the of endovascular they Sublime articulated terms As relative life-saving and publications and reminder, to efficiency, of in and our benefits capabilities thrombectomy a advantage bring to arterial Radial
And second to continue and market with of initiatives the see ASCs, labs. product these are prospective evidence procedures resonating regardless that performed along we whether hospitals, these at customers. quarter, our procedures Throughout recent awareness are publications, or office-based on with the
commercial the sales device a these I as we quarter, sales impressive growth fueling more direct in product second medical period. during mentioned products earlier, half of our from saw standpoint this contributions From than year-over-year of
In technologies expanding customers committee helping Our of direct headway process sales navigate by clinical respective and with prospective impressive the part adoption value team continues institution. base their driving to make our users. of these analysis
than compared to end and for the customers expanding at in XXXX. base XXX Pounce to total end of quarter, XXX over the XXX fiscal of customer more over at We succeeded just first our Sublime and platforms, the
fiscal Given as accounts that XXXX date. the important increase well. strong to have know seen has to we new pipeline sequential in It is to of sequentially prospective our growth and continued customers
the we expectations In quarterly line the to products our managers reduction analysis fiscal evaluating for committees pleased remain number customer modest the XXXX. our of despite number quarter, reorder growth, field territory recent the second in with are our track value rate, continues in with and sequential in the which
managers, to are of revenue our still quarter. and the Sublime, XX-months of in While in Pounce territory we made by our an now growth and second efforts excited recent of for XX we tenure the with across average innings resulting the our contribution progress team commercial early are the
ultimately Based significant arterial and of we platforms. to our potential move begin year-over-year on sales development, and recent these in combined year to Radial drive to full and we XXXX early our fiscal into growth the remain see market as XXX% platforms Sublime efforts. continue the contribution And we from stage commercialization for on-track our for some market entry progress, proximately initial growth Pounce of from
outcomes used enrollment a beginning PROWL for efficacy XX Study. nonsurgical variety announce Arterial a to interventions also removal vasculature. of in The new sites, arterial clots U.S. Pounce XXX real pleased patients registries collecting enroll the system, Thrombectomy Subsequent across patient up world peripheral the when we to and quarter in and of end, for PROWL endovascular were to of safety designed to the Registry
acute quickly to ischemia. as be addressed as effectively patient’s and a prevent possible and to becomes the limb as peripheral clot due blocked, limb to loss patient mortality When artery needs
clots designed for remove jobs treatment stays. Thrombectomy reducing need thrombolytic With was also Pounce single the this session, consistently system ICU while subsequent Arterial in mind, and our a in to
strong believe registry on will PROWL profile registry this the of with to as Pounce our initiatives. data awareness And market We the to safety education clinicians other mass continue technology. look along sharing with highlight forward compelling to support therapeutic interim we benefits these progresses,
we saw from year-over-year from expectations. businesses the offsetting core to respect and performance, flow our cash businesses. with performance business overall strategic coatings IVD than IVD and performance growth coating of our our medical decrease drive offering revenue our the X% medical that device our more Now, X% to exceeded offerings objectives device Revenue and increased in third our
sales the quarterly in As I IVD as all-time business mentioned year-over-year generated the business against record performance IVD comparisons with a quarter challenging earlier, second our year-over-year fiscal revenue XXXX. in we were of pleased our
flow initiatives. the strategic continue performance growth our to in support the quarter, revenue businesses significant generate addition these to In to cash other
spending response all to the In second implemented PMA these capital addition in to we to early in a quarter to our continued the respect reduction SurVeil three strategic objectives, progress with timing. plan anticipated during preserve delay
by evaluation prior designed was implemented discussed to our reduction fiscal XXXX on was in detail cash to charges. plan use restructuring to of last reduce call, for approximately million the $XX million $XX the our As earnings planned I the careful spending after and remainder
in fiscal workforce platform. opportunities, several prioritize for systems, of several Pounce reduction our of spending as our well our Arterial commercialization refocus in to restructuring teams Pounce reduction Venous Thrombectomy expenditures, the of The cash of the saving plan progress areas our reduction primarily plan included investments planned also product capital Sublime streamline measures, product Radial and and development XXXX business it features hiring our to as our the additional namely, in near-term our in a refocusing including and
the to approximately to of our spending million be each to As expectations the keeping guidance expect continue and we and cash quarters fiscal full-year, use reduction in million the a quarterly of quarter. $X.X $X result our in for fourth third plan mind XXXX
to respect along driving to remains to evidenced disciplined we enhanced overtime, priority with believe and our long-term our plan, of the represents focus expense an organization. management of best implementation through and for stated reduction spending combination as our execution want committed path our I use value a cash a which cash of sustainable priorities, the strategic emphasize important continued flow by remain growth. to with reducing We
pipeline. sales a I direct recent our Before to perspective, our new and with our new progress to Tim, update Pounce quick some related enhancing turn of a and over Sublime provide product force. pipeline like on of the I portfolio the team would continues product within to expanding also From of products call existing goal to advance managed this platform our the by our
In began second the Pounce we Venous quarter, evaluations for Thrombectomy limited system. market
real to are We excited evaluate numerous this wide a continue therapeutic cases. and across obtain to from physicians world feedback variety effort of and
our for available in Sublime that evaluations With also suite we both radial Radial will week, and torqueable were the respect what Radial part transfemoral Access the device to platform, of last we links. high is commenced industry’s performance of pleased have to This be market first microcatheter announce limited Sublime microcatheter. peripheral
challenging Torqueable in difficult been artery the overcome across most lesions disease, enabling important cases. have some microcatheters clinicians coronary complex innovation of and
with of are clinicians suite torque the site. any in of to the Intervention target this level periphery push bring to and access microcatheter transmission potential from We Peripheral a performance deliverability and with control, the products excited to designed Community lesions to by distal provide innovation
these navigating in Also can to on or XXX, microcatheter additional heavily gaining torquesity XXX XXX forward stenosed extreme through We include backup provide and telescoped be progressing microcatheters which products by physician towards introductions the limited look the market months. over of feedback the portfolio will when portfolio coming microcatheter also to these important the devices, support lesions. XXX remaining
to represent peripheral lastly, approximately with opportunity to is an for And system, bear estimate for arterial to market the mind Thrombectomy market Arterial million Surmodics. $XXX respect in we Pounce it our occlusions U.S. important that
limited is system of treatment limb the at market, positioned commercial factors, that advantages Thrombectomy to competition to for given penetrate well as believe this including continues demonstrate, its uniquely present. the procedural We Arterial our its Pounce multiple as results ischemia, Acute
enhancing and addition on our from clinical Low entire products are existing our Profile, we system further portfolio, to towards add to this Pounce of preferred to as establishing Arterial LP and a expanding Arterial Pounce gym] efforts In new including solution development Pounce lower new cases [vascular (Ph). and for Excel, commercial focused indications across Pounce limb development perspective, pipeline by a this market Pounce the
our which of for to to proud incredibly our of to us I’m quickly difficult reduce Together, remainder through team’s related back, performance SurVeil FDA’s fiscal the PMA planned we stepping of focus our a saw the environment, So the implement during letter respond quarter. second but actions navigated and challenging XXXX. and execution cash use important application
vascular We introduction, and while solid balloon, commercial commercial including did and our platform. performance a coatings advance we Arterial Pounce our continue products new intervention delivering within to Pounce device, products to drug Sublime SurVeil of performance products coated so new with and respect IVD our towards Venous of Thrombectomy and and pipeline
well of As second efforts, as fiscal XXXX. and positioned these a are we of to commercial drive half believe operational result strong progress the we we enter
IVD are medical businesses, generating and core flow. significant businesses Our offerings coatings including our our cash device performance,
underpenetrated we significant in and is platforms as The Pounce initial drive contributions revenue commercialization to progress of Radial our large Sublime growth markets. these and Arterial yielding
of Venous Thrombectomy growth further and accelerate SurVeil represent future performance. and vascular potential product financial with pipeline including devices, Pounce important the Our DCB our intervention device, catalysts innovative our to future
We demonstrating in and to our $XX capitalized (Ph) remain allocation cash sheet with of under quarter we balance as facility. approximately access creation. incremental remain our prudent revenue at committed growth credit value we end, pursue and [XX] and expense lastly, debt well disciplined And long-term existing capital million financing in million to management
Tim. turn discuss the guidance over our fiscal Officer, Arens, results updated now will our XXXX and quarter to fiscal I Chief for that, to second With Tim call Financial XXXX.
