AngioDynamics Reports $10.7M Loss in Recent 10-Q, Shares Plummet 36.8%

By Bobby Samwell • Wednesday, January 08 15:21 • Permanent Link

AngioDynamics, Inc. has recently released its 10-Q report, providing insight into its financial performance and business operations. The medical technology company is focused on designing, manufacturing, and selling medical, surgical, and diagnostic devices for treating peripheral vascular disease, oncology, and surgical settings in the United States and internationally. Its product offerings include the Auryon Atherectomy system, thrombus management portfolio, NanoKnife IRE Ablation System, peripheral products, VenaCure EVLT system, and Solero MTA System.

In the 10-Q report, AngioDynamics provided an overview of its financial condition and results of operations. For the three months ended November 30, 2024, the company reported a net loss of $10.7 million on net sales of $72.8 million, compared to a net loss of $29.0 million on net sales of $79.1 million during the same period in the prior year. For the six months ended November 30, 2024, the company reported a net loss of $23.5 million on net sales of $140.3 million, compared to a net income of $16.8 million on net sales of $157.8 million during the same period in the prior year.

The company's net sales for the three months ended November 30, 2024, decreased by $6.2 million to $72.8 million compared to the same period in the prior year. For the six months ended November 30, 2024, net sales decreased by $17.4 million to $140.3 million compared to the same period in the prior year. The decrease in net sales was partially attributed to the sale of certain businesses and the discontinuation of specific product lines, which impacted sales by $12.4 million and $24.3 million for the respective periods.

AngioDynamics' Med Tech segment net sales increased by $6.2 million and $8.3 million for the three and six months ended November 30, 2024, driven by factors such as increased Auryon sales, sales of the thrombus management platform, and NanoKnife sales. In contrast, the Med Device segment net sales decreased by $12.4 million and $25.7 million for the three and six months ended November 30, 2024, primarily due to the divestiture of certain businesses and the discontinuation of specific product lines.

The market has reacted to these announcements by moving the company's shares 36.8% to a price of $12.86. For the full picture, make sure to review AngioDynamics's 10-Q report.

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