AngioDynamics Files 2024 10-K

TL;DR

AngioDynamics filed its 2024 10-K. Full financials and biz details out.

AI Summary

AngioDynamics Inc. filed its 10-K for the fiscal year ending May 31, 2024, reporting on its financial performance and business operations. The company, incorporated in Delaware, is headquartered in Latham, NY, and operates in the Surgical & Medical Instruments & Apparatus industry. Key financial data and operational details for the fiscal years 2021 through 2024 are presented within the filing.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of AngioDynamics' financial health, strategic initiatives, and risk factors for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — This is a standard annual report filing providing historical financial data and business overview, without immediate new material events.

Key Numbers

• 2024 — Fiscal Year End (The report covers the fiscal year ending May 31, 2024.)
• 2023 — Previous Fiscal Year (Comparative financial data from the previous fiscal year is included.)
• 2022 — Prior Fiscal Year (Data from two fiscal years prior is available for trend analysis.)

Key Players & Entities

• ANGIODYNAMICS INC (company) — Filer
• LATHAM, NY (location) — Business Address
• 0531 (date) — Fiscal Year End
• 20240531 (date) — Conformed Period of Report
• 20240725 (date) — Filed as of Date

FAQ

Filing Documents

• ango-20240531.htm (10-K) — 1879KB
• ex1021_bard-angiosettlemen.htm (EX-10.21) — 125KB
• ex19insidertradingpolicy.htm (EX-19) — 94KB
• ex2105312024.htm (EX-21) — 7KB
• ex23angio2024consentofdelo.htm (EX-23) — 2KB
• ex3115312410-k.htm (EX-31.1) — 12KB
• ex3125312410-k.htm (EX-31.2) — 12KB
• ex3215312410-k.htm (EX-32.1) — 5KB
• ex3225312410-k.htm (EX-32.2) — 5KB
• ex97angododd-frankclawback.htm (EX-97) — 20KB
• ango-20240531_g1.gif (GRAPHIC) — 12KB
• ango-20240531_g2.jpg (GRAPHIC) — 13KB
• ango-20240531_g3.jpg (GRAPHIC) — 14KB
• ango-20240531_g4.gif (GRAPHIC) — 65KB
• ango-20240531_g5.jpg (GRAPHIC) — 24KB
• ango-20240531_g6.jpg (GRAPHIC) — 13KB
• ango-20240531_g7.jpg (GRAPHIC) — 89KB
• ango-20240531_g8.jpg (GRAPHIC) — 98KB
• 0001628280-24-032989.txt ( ) — 11740KB
• ango-20240531.xsd (EX-101.SCH) — 72KB
• ango-20240531_cal.xml (EX-101.CAL) — 127KB
• ango-20240531_def.xml (EX-101.DEF) — 301KB
• ango-20240531_lab.xml (EX-101.LAB) — 931KB
• ango-20240531_pre.xml (EX-101.PRE) — 649KB
• ango-20240531_htm.xml (XML) — 1618KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 29

Cyber Security

Item 1C. Cyber Security 29

Properties

Item 2. Properties 29

Legal Proceedings

Item 3. Legal Proceedings 30

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30 Part II:

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity 31

[Reserved]

Item 6. [Reserved] 32

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 44

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 44

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 44

Controls and Procedures

Item 9A. Controls and Procedures 45

Other Information

Item 9B. Other Information 47

Foreign Jurisdictions that Prevent Inspections

Item 9C. Foreign Jurisdictions that Prevent Inspections 47 Part III:

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 48

Executive Compensation

Item 11. Executive Compensation 48

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 48

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 48

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 48 Part IV:

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 49 1 Part I Unless otherwise indicated in this report, "AngioDynamics," the "Company," "we," "our" or "us" refers to AngioDynamics, Inc and our consolidated subsidiaries. Disclosure Regarding Forward-Looking Statements This annual report on Form 10-K, including the sections entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "projects," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ materially from AngioDynamics' expectations, expressed or implied. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics' technology or assertions that AngioDynamics' technology infringes the technology of third parties, the ability of AngioDynamics to effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economi

Business

Item 1. Business. OVERVIEW AngioDynamics is a leading and transformative medical technology company focused on restoring healthy blood flow in the body's vascular system, expanding cancer treatment options and improving quality of life for patients. HISTORY AngioDynamics was founded in Queensbury, N.Y., U.S., in 1988 and began manufacturing and shipping product in the early 1990s. The Company is headquartered in Latham, N.Y., with manufacturing primarily out of the Queensbury facility. Initially dedicated to the research and development of products used in interventional radiology, the Company soon became well established as a producer of diagnostic catheters for non-coronary angiography and thrombolytic delivery systems. The Company grew over the following years as a result of acquisitions of companies including RITA Medical Systems in January 2007, Oncobionic in May 2008, the assets of Diomed in June 2008, Vortex Medical, Inc. in October 2012, the assets of Microsulis Medical Limited in January 2013, and Clinical Devices in August 2013. These acquisitions added product lines including ablation and NanoKnife systems, vascular access products, angiographic products and accessories, dialysis products, 2 drainage products, thrombolytic products, embolization products and venous products. In May 2012, the Company acquired Navilyst Medical's Fluid Management business, which the Company sold in May 2019 to Medline Industries, Inc. pursuant to an asset purchase agreement. In August 2018, the Company acquired the BioSentry product line from Surgical Specialties, LLC, which the Company sold in June 2023 to Merit Medical Systems, Inc. pursuant to an asset purchase agreement. In September 2018, the Company acquired RadiaDyne, which included endorectal and vaginal balloons. On October 2, 2019, the Company acquired Eximo Medical, Ltd., a pre-commercial stage medical device company and its proprietary 355nm laser atherectomy technology (now called Auryon), which treats

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View this 10-K filing on SEC EDGAR