Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ANGIODYNAMICS, INC.

(ANGO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

AngioDynamics : rsquo; Fiscal 2021 Fourth Quarter Financial Results

07/13/2021 | 04:41pm EDT

ANGIODYNAMICS

Fourth Quarter 2021 Earnings Presentation

July 13, 2021

1

Forward-Looking Statement

Notice Regarding Forward-LookingStatements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "projects," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ materially from AngioDynamics' expectations, expressed or implied. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the scale and scope of the COVID-19 global pandemic, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics' technology or assertions that AngioDynamics' technology infringes the technology of third parties, the ability of AngioDynamics to effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, challenges with respect to third-party distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate acquired businesses, as well as the risk factors listed from time to time in AngioDynamics' SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2020. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.

In the United States, the NanoKnife System has received a 510(k) clearance by the Food and Drug Administration for use in the surgical ablation of soft tissue, and is similarly approved for commercialization in Canada, the European Union and Australia. The NanoKnife System has not been cleared for the treatment or therapy of a specific disease or condition.

Notice Regarding Non-GAAP FinancialMeasures

Management uses non-GAAP measures to establish operational goals and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics' business over time. Investors should consider these non- GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this presentation, AngioDynamics has reported adjusted EBITDA (income before interest, taxes, depreciation and amortization and stock-based compensation); adjusted net income and adjusted earnings per share. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide investors with useful information in comparing AngioDynamics' performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics' underlying business. Management encourages investors to review AngioDynamics' financial results prepared in accordance with GAAP to understand AngioDynamics' performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics' financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.

2

Corporate Developments - Q4 Highlights

• Continued focused investment in our 3 key technology platforms: Auryon, AngioVac & NanoKnife

  • YOY comparisons are significantly impacted by the COVID-19 global pandemic
  • Procedural volumes continued to rebound in Q4
  • AngioVac cases continued their sequential quarterly growth
    • 108% growth in AngioVac YOY
    • $4.6 million in Auryon sales
    • NanoKnife disposable growth: US 69% YOY; worldwide growth of 42% YOY
      • NanoKnife DIRECT study: 26 active sites
      • Encouraged by the overall execution of the study in the current environment
        • Received FDA clearance for the AlphaVac Mechanical Thrombectomy System subsequent to quarter end
        • Received approval for NanoKnife prostate IDE (PRESERVE) subsequent to quarter end
  • Completed enrollment of PATHFINDER 1 pilot registry

• Shifting our focus to the pivotal study phase

  • $14.0 million write-off of the OARtrac intangible assets
    • Reduced debt outstanding under the revolver to $20.0 million as of May 31, 2021

FY22 Guidance

Revenue

Gross Margin

Adjusted EPS

$305 - $310 million

~55%

$0.00 - $0.05

3

Fourth Quarter and FY2021 Highlights

Financial Performance

Q4 FY2021

Q4 FY2020

YOY

$ in thousands (except per share data)

Change

Revenue

$76,842

$58,332

31.7%

Gross Margin

55.1%

51.8%

330 bps

Net Loss

($19,468)

($157,067)

$137,599

GAAP EPS

($0.51)

($4.13)

$3.62

Adjusted EPS

$0.00

($0.06)

$0.06

Adjusted EBITDA

$4,512

$553

$3,959

Product Family Sales Growth Over Prior Year Periods

Endovascular Therapies (formerly VIT)

Q4 FY2021

FY2021

AngioVac®

108%

47%

Auryon

NA*

NA*

Thrombolytic

(36%)

(11%)

Core Peripheral

47%

9%

Venous Insufficiency

85%

0%

Vascular Access

Q4 FY2021

FY2021

Midlines

(2%)

28%

C3

110%

NA**

PICCs

(10%)

8%

Ports

26%

5%

Dialysis

(3%)

1%

Oncology

Q4 FY2021

FY2021

NanoKnife® Capital

(77%)

(48%)

NanoKnife® Disposables

42%

13%

Solero® Microwave

38%

11%

BioSentry

93%

38%

Alatus and IsoLoc Balloons

6%

(18%)

RadioFrequency Ablation

(10%)

(21%)

4

* The Auryon full market launch took place in the second quarter of fiscal year 2021.

** The C3 Wave acquisition took place in December 2019.

Fourth Quarter and FY2021 Highlights

Sales Growth Over Prior Year Periods - Additional Detail

Med Tech

Q4 FY2021

FY2021

Auryon

NA**

NA**

Mechanical Thrombectomy*

62%

32%

NanoKnife® Disposables

42%

13%

NanoKnife® Capital

(77%)

(48%)

Med Device

Q4 FY2021

FY2021

Solero® Microwave

38%

11%

BioSentry

93%

38%

Core Peripheral

47%

9%

Venous Insufficiency

85%

0%

Alatus and IsoLoc Balloons

6%

(18%)

RadioFrequency Ablation

(10%)

(21%)

Midlines

(2%)

28%

C3

110%

NA***

PICCs

(10%)

8%

Ports

26%

5%

Dialysis

(3%)

1%

* Mechanical Thrombectomy comprises AngioVac and Thrombolytics.

** The Auryon full market launch took place in the second quarter of fiscal year 2021.

*** The C3 Wave acquisition took place in December 2019.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

AngioDynamics Inc. published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 20:40:08 UTC.


ę Publicnow 2021
All news about ANGIODYNAMICS, INC.
09/15ANGIODYNAMICS : to Report Fiscal 2022 First Quarter Financial Results on September 30, 202..
BU
08/30ANGIODYNAMICS : New AMA Category III CPT Code Issued for Transcatheter Removal/Debulking o..
PU
08/20ANGIODYNAMICS : Oppenheimer Initiates Coverage on AngioDynamics With Perform Rating
MT
08/17INSIDER TRENDS : Insider at AngioDynamics Acquires Stock Via Conversion of Option/Derivati..
MT
08/12ANGIODYNAMICS : Receives FDA Approval for PRESERVE Study
PU
07/29ANGIODYNAMICS : to Present at the Canaccord Genuity Virtual Growth Conference
BU
07/27ANGIODYNAMICS : Management's Discussion and Analysis of Financial Conditions and Results o..
AQ
07/23INSIDER TRENDS : AngioDynamics Insider Gets Shares Award Makes Tax Sale with Portion, Easi..
MT
07/14ANGIODYNAMICS : Canaccord Genuity Adjusts Price Target on AngioDynamics to $28 From $24, M..
MT
07/13ANGIODYNAMICS : rsquo; Fiscal 2021 Fourth Quarter Financial Results
PU
More news
Analyst Recommendations on ANGIODYNAMICS, INC.
More recommendations
Financials (USD)
Sales 2022 308 M - -
Net income 2022 -15,2 M - -
Net Debt 2022 - - -
P/E ratio 2022 -62,6x
Yield 2022 -
Capitalization 935 M 935 M -
Capi. / Sales 2022 3,04x
Capi. / Sales 2023 2,81x
Nbr of Employees 800
Free-Float 94,5%
Chart ANGIODYNAMICS, INC.
Duration : Period :
AngioDynamics, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ANGIODYNAMICS, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 24,19 $
Average target price 30,00 $
Spread / Average Target 24,0%
EPS Revisions
Managers and Directors
James Christopher Clemmer President, Chief Executive Officer & Director
Stephen A. Trowbridge Chief Financial Officer & Executive Vice President
Howard W. Donnelly Independent Non-Executive Chairman
David D. Helsel SVP-Global Operations, Research & Development
Kim L. Seabury Senior Vice President-Information Technology
Sector and Competitors