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ANGIODYNAMICS, INC.

(ANGO)
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Delayed Quote. Delayed Nasdaq - 12/07 04:00:00 pm
26.49 USD   +2.40%
12/06ANGIODYNAMICS INC : Other Events (form 8-K)
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11/03ANGIODYNAMICS INC : Submission of Matters to a Vote of Security Holders (form 8-K)
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10/18INSIDER SELL : Angiodynamics
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AngioDynamics : rsquo; Fiscal 2022 First Quarter Financial Results

09/30/2021 | 04:22pm EST

ANGIODYNAMICS

First Quarter 2022 Earnings Presentation

September 30, 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 obtain regulatory clearances or approval of its products, or 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, 2021. 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 - Q1 Highlights

• Continued focused investment in our 3 key Med Tech platforms: Auryon, Mechanical Thrombectomy & NanoKnife

  • Overall YOY revenue growth of 9.6%
    • $5.9 million in Auryon sales
    • 12% YOY growth in AngioVac

Ø NanoKnife disposable growth: worldwide growth of 34% YOY; US growth of 63% YOY

  • COVID-19related headwinds persist, impacting gross margin and procedural volumes
    • Commenced a Limited Market Release of the AlphaVac Mechanical Thrombectomy device in September
      • NanoKnife DIRECT study: 26 active sites, consistent with last quarter
        • Encouraged by overall execution of the study in the current environment
  • NanoKnife PRESERVE study (prostate IDE): obtained central IRB approval
    • Plan to initiate up to 20 sites
    • Many leading institutions interested in partnering in this study
      • Acquired a support catheter that will be used in conjunction with the Auryon platform
        • $5.0 million draw on revolving credit facility to fund the purchase price

Updated FY22 Guidance

Adjusted EPS

Revenue

Gross Margin

(unchanged)

Previous Guidance

Updated Guidance

(unchanged)

$0.00 - $0.05

$305 - $310 million

$310 - $315 million

~55%

3

First Quarter Highlights

Financial Performance

$ in thousands (except per share data)

Q1 FY2022

Q1 FY2021

YOY Change

Revenue

$76,971

$70,216

9.6%

Gross Margin

52.1%

50.9%

120 bps

Net Loss

($6,972)

($4,268)

($2,704)

GAAP EPS

($0.18)

($0.11)

($0.07)

Adjusted EPS

($0.02)

$0.02

($0.04)

Adjusted EBITDA

$3,570

$4,466

($896)

4

First Quarter Highlights - Sales Growth Over Prior Periods

Med Tech

Q1 FY2022

Auryon

NA**

Mechanical Thrombectomy*

9%

NanoKnife® Disposables

34%

NanoKnife® Capital

280%

Med Device

Q1 FY2022

Solero® Microwave

(9%)

BioSentry

21%

Core Peripheral

14%

Venous Insufficiency

10%

Alatus and IsoLoc Balloons

5%

RadioFrequency Ablation

8%

Midlines***

(38%)

C3

62%

PICCs***

(23%)

Ports

21%

Dialysis

(8%)

  • Mechanical Thrombectomy comprises AngioVac and Thrombolytics.
  • The Auryon full market launch took place in the second quarter of fiscal year 2021.
  • Excluding the impact of the $5.2 million NHS order in the prior year, Midlines were up 10% and PICCs was up 9%.

Endovascular Therapies

Q1 FY2022

Auryon

NA*

AngioVac®

12%

Thrombolytic

(8%)

Core Peripheral

14%

Venous Insufficiency

10%

Vascular Access

Q1 FY2022

Midlines**

(38%)

C3

62%

PICCs**

(23%)

Ports

21%

Dialysis

(8%)

Oncology

Q1 FY2022

NanoKnife® Capital

280%

NanoKnife® Disposables

34%

Solero® Microwave

(9%)

BioSentry

21%

Alatus and IsoLoc Balloons

5%

5

RadioFrequency Ablation

8%

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

  • Excluding the impact of the $5.2 million NHS order in the prior year, Midlines were up 10% and PICCs was up 9%.

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

Disclaimer

AngioDynamics Inc. published this content on 30 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2021 20:21:01 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2022 314 M - -
Net income 2022 -16,5 M - -
Net Debt 2022 - - -
P/E ratio 2022 -62,6x
Yield 2022 -
Capitalization 1 024 M 1 024 M -
Capi. / Sales 2022 3,26x
Capi. / Sales 2023 3,03x
Nbr of Employees 800
Free-Float 94,5%
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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