Investors Cheer AngioDynamics' Q1 Beat, Raised FY22 Sales Outlook - AngioDynamics (NASDAQ:ANGO)

AngioDynamics Inc (NASDAQ: ANGO) reported a Q1 FY22 adjusted EPS loss of $(0.02), ahead of the consensus of $(0.04).
Q1 sales increased 9.6% Y/Y to $77 million, beating the analyst consensus of $71.31 million.
Endovascular Therapies net sales increased 27.5% to $38.1 million. Oncology net sales improved 13.9% Y/Y to $14 million.
Vascular Access net sales declined 11.2% to $25.0 million. Excluding the non-recurring $5.2 million NHS sale in the year-ago period, Vascular Access revenue increased 9.0%.
The gross margin for the quarter expanded 120 bps to 52.1%. Adjusted EBITDA was $3.6 million, compared to $4.5 million in 1Q of FY21.
AngioDynamics had debt outstanding of $25.0 million on August 31, 2021, versus $20.0 million on May 31, 2021.
Guidance: For FY22, AngioDynamics increased sales guidance to $310 million - $315 million (prior guidance of $305 million - $310 million) versus the consensus of $307.8 million.
The company expects gross margin to be approximately 55.0% and adjusted EPS of $0.00 - $0.05 (consensus $0.01).
Related: AngioDynamics Breaks-Even In FY21, Issues Mixed Forecasts For FY22.
Price Action: ANGO stock is up 11.4% at $26.02 during the market session on the last check Thursday.