AngioDynamics Q2 2022 Earnings Report
Key Takeaways
AngioDynamics reported a 7.6% increase in net sales to $78.3 million for the second quarter of fiscal year 2022. Revenue growth was driven by the Med Tech segment, which increased 36.4% year-over-year. However, the company experienced a decline in gross margin and a net loss due to supply chain constraints, labor shortages, and lower procedural volumes.
Net sales increased by 7.6% to $78.3 million compared to the prior-year quarter.
Med Tech segment grew by 36.4%, while Med Device segment increased by 0.8% year over year.
Gross margin declined by 340 basis points year over year to 51.8%.
GAAP loss per share was $0.21, and adjusted loss per share was $0.02.
AngioDynamics
AngioDynamics
AngioDynamics Revenue by Segment
AngioDynamics Revenue by Geographic Location
Forward Guidance
The Company continues to expect its fiscal year 2022 net sales to be in the range of $310 to $315 million. Gross margin is now expected to be in the range of 52.0% to 54.0%, a decrease from the Company’s prior guidance of 55.0%, as headwinds persist regarding labor shortages and inflationary pressures on raw materials and transportation. Due to the macroeconomic pressures on gross margin, as discussed above, the Company now expects adjusted earnings per share in the range of a loss of $0.02 to a gain of $0.02, below its prior guidance of a range of $0.00 to $0.05.
Revenue & Expenses
Visualization of income flow from segment revenue to net income