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Nov 30, 2023
AngioDynamics Q2 2024 Earnings Report
AngioDynamics' second quarter results for fiscal year 2024, which ended November 30, 2023, were announced, with net sales increasing by 2.7% and the company initiating a restructuring of its manufacturing footprint.
Key Takeaways
AngioDynamics reported a 2.7% increase in net sales to $79.1 million for Q2 2024 on a pro forma basis. The company is undergoing a strategic transformation, including restructuring its manufacturing and optimizing its portfolio, expecting adjusted EPS profitability in FY27.
Net sales increased by 2.7% on a pro-forma basis compared to the prior-year quarter.
Med Tech net sales increased 3.5%, while Med Device net sales increased 2.3% on a pro-forma basis.
GAAP loss per share was $0.72, and adjusted loss per share was $0.05.
Cash and cash equivalents totaled $60.9 million as of November 30, 2023.
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
AngioDynamics expects fiscal year 2024 net sales to be in the range of $320 to $325 million, gross margin to be approximately 49% to 51%, and adjusted loss per share in the range of $0.35 to $0.42.
Challenges Ahead
- Softer Thrombectomy sales are expected to continue throughout the back half of the year.
- SKU rationalization impacts sales.
- Manufacturing restructuring impacts sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income