Q4 2024 AngioDynamics Inc Earnings Call Transcript
Key Points
- AngioDynamics Inc (ANGO) reported a 2% year-over-year growth in total pro forma worldwide revenue for the fourth quarter, reaching $71.1 million.
- The MedTech segment showed strong performance with an 11% growth, driven by Auryon (12% growth) and NanoKnife (43% growth).
- The company generated $5 million in excess cash flow from operations and adjusted EBITDA of $1.5 million in the fourth quarter.
- For the full fiscal year, AngioDynamics Inc (ANGO) achieved a revenue of $270.7 million, representing a 5.3% growth.
- The company finished the fiscal year with over $76 million in cash and cash equivalents, significantly strengthening its balance sheet.
- The mechanical Thrombectomy business declined approximately 2% during the fourth quarter.
- Revenue from the Med Device segment declined approximately 4%, primarily due to impacts from reorganization and manufacturing headwinds.
- Gross margin for the fourth quarter was flat at 54.3% compared to the previous year, with MedTech gross margin decreasing by 70 basis points.
- The company recorded a GAAP net loss of $13.4 million or a loss per share of $0.33 in the fourth quarter.
- Adjusted EBITDA for the fourth quarter was only $1.5 million, indicating modest profitability amidst ongoing strategic transformations.
Good morning and welcome to the AngioDynamics fiscal year 2024 fourth quarter earnings call. (operator instructions) As a reminder, this conference call is being recorded. The news release detailing AngioDynamics fiscal 2024 fourth quarter and full year 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 one 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,
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