AngioDynamics' Q4 Top-Line Beats Street View, Issues Mixed FY23 Guidance

AngioDynamics' Q4 Top-Line Beats Street View, Issues Mixed FY23 Guidance
  • AngioDynamics Inc (NASDAQANGO) has reported a Q4 FY22 adjusted EPS of $0.01, in line with the consensus and better than $0.00 a year ago.
  • Q4 sales increased 13.2% Y/Y to $86.9 million, beating the analyst consensus of $83.25 million.
  • Endovascular Therapies net sales increased 18.5% to $45.1 million, driven by Auryon sales and thrombectomy portfolio growth.
  • Oncology net sales increased 5.8% Y/Y to $15.1 million, primarily due to increased net sales of disposables of NanoKnife and Microwave.
  • Vascular Access' net sales increased 9.3% to $26.7 million.
  • The gross margin compressed 170 bps to 53.4%, impacted by macro forces, including labor shortages and increased costs for labor, raw materials, and freight.
  • Adjusted EBITDA was $6.2 million, compared to $4.5 million a year ago.
  • Guidance: For FY23, AngioDynamics forecasts sales of $342 million - $348 million versus the consensus of $337.7 million.
  • The company expects a gross margin of approximately 52.5% - 54.5% and adjusted EPS of $0.01 - $0.06 (consensus of $0.08).
  • Price Action: ANGO shares are up 2.50% at $20.54 during the premarket session on the last check Tuesday.

Posted In: BriefsBiotechEarningsNewsGuidanceHealth CareGeneral