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Aug 31, 2022
AngioDynamics Q1 2023 Earnings Report
AngioDynamics reported financial results for the first quarter of fiscal year 2023 and reaffirmed guidance.
Key Takeaways
AngioDynamics reported a 5.9% increase in net sales compared to the prior-year quarter. Med Tech net sales increased 29.6%, while Med Device net sales decreased 1.1%. The company's GAAP loss per share was $0.33, and adjusted loss per share was $0.06.
Net sales increased by 5.9% compared to the prior-year quarter.
Med Tech net sales increased by 29.6%.
Med Device net sales decreased by 1.1%.
The Company commenced the Full Market Release of the AlphaVac F18 Mechanical Thrombectomy device
AngioDynamics
AngioDynamics
AngioDynamics Revenue by Segment
AngioDynamics Revenue by Geographic Location
Revenue by Segment
Med Tech Revenue
CapyFin.comMed Device Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Management is reaffirming its previously issued fiscal year 2023 guidance. Management expects net sales to be in the range of $342 to $348 million, gross margin to be approximately 52.5% to 54.5% and adjusted earnings per share in the range of $0.01 to $0.06 as it continues to invest in new product launches to drive future growth.
Positive Outlook
- Net sales to be in the range of $342 to $348 million
- Gross margin to be approximately 52.5% to 54.5%
- Adjusted earnings per share in the range of $0.01 to $0.06
- Company continues to invest in new product launches
- Company will drive future growth
Challenges Ahead
- challenging and uncertain macro environment
- persistent inflation
- hospital staffing pressures
- procedural pressures
- Company recorded a net loss of $13.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income