ANGIODYNAMICS INC. Files Q2 2025 10-Q Report

TL;DR

ANGIODYNAMICS INC. 10-Q filed: Financials for Nov 30, 2024 quarter are in. Check it out.

AI Summary

ANGIODYNAMICS INC. filed its 10-Q for the period ending November 30, 2024, reporting on its financial performance. The company, based in Latham, NY, operates in the surgical and medical instruments sector. Key financial data and operational details for the quarter and year-to-date periods are presented.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of ANGIODYNAMICS INC., crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard 10-Q, but the medical device sector can be subject to regulatory and market risks not detailed in this summary.

Key Numbers

• 2024-11-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is provided.)
• 2025-01-08 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 2024-06-01 — Reporting Period Start Date (Marks the beginning of the fiscal period covered by the report.)

Key Players & Entities

• ANGIODYNAMICS INC. (company) — Filer of the 10-Q report
• 2024-11-30 (date) — End of the reporting period
• Latham, NY (location) — Company's business address
• 14 Plaza Drive (address) — Company's business and mailing address
• 5187981215 (phone_number) — Company's business phone number

FAQ

Filing Documents

• ango-20241130.htm (10-Q) — 1224KB
• a11302024-exx311.htm (EX-31.1) — 10KB
• a11302024-exx312.htm (EX-31.2) — 10KB
• a11302024-exx321.htm (EX-32.1) — 5KB
• a11302024-exx322.htm (EX-32.2) — 5KB
• ango-20241130_g1.gif (GRAPHIC) — 12KB
• 0001275187-25-000005.txt ( ) — 7092KB
• ango-20241130.xsd (EX-101.SCH) — 47KB
• ango-20241130_cal.xml (EX-101.CAL) — 76KB
• ango-20241130_def.xml (EX-101.DEF) — 200KB
• ango-20241130_lab.xml (EX-101.LAB) — 602KB
• ango-20241130_pre.xml (EX-101.PRE) — 415KB
• ango-20241130_htm.xml (XML) — 1110KB

: Financial Information

Part I: Financial Information

Financial Statements

Item 1. Financial Statements Consolidated Statements of Operations (unaudited) 3 Consolidated Statements of Comprehensive Income (Loss) (unaudited) 4 Consolidated Balance Sheets (unaudited) 5 Consolidated Statements of Cash Flows (unaudited) 6 Consolidated Statements of Stockholders' Equity (unaudited) 7

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 32

: Other Information

Part II: Other Information

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Defaults on Senior Securities

Item 3. Defaults on Senior Securities 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 35 2 Table of Content PART 1. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. AngioDynamics, Inc. and Subsidiaries CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands of dollars, except per share data) Three Months Ended Six Months Ended Nov 30, 2024 Nov 30, 2023 Nov 30, 2024 Nov 30, 2023 Net sales $ 72,845 $ 79,073 $ 140,336 $ 157,752 Cost of sales (exclusive of intangible amortization) 32,939 38,811 63,706 77,430 Gross profit 39,906 40,262 76,630 80,322 Operating expenses: Research and development 6,434 8,658 12,719 16,599 Sales and marketing 25,589 25,464 51,194 52,832 General and administrative 10,391 9,289 21,366 20,145 Amortization of intangibles 2,562 3,562 5,132 7,187 Change in fair value of contingent consideration 156 221 232 91 Acquisition, restructuring and other items, net 5,868 6,188 10,179 9,400 Total operating expenses 51,000 53,382 100,822 106,254 Gain on sale of assets — — — 47,842 Operating income (loss) ( 11,094 ) ( 13,120 ) ( 24,192 ) 21,910 Other expense: Interest income, net 234 534 840 653 Other income (expense), net 12 ( 32 ) ( 161 ) ( 320 ) Total other income, net 246 502 679 333 Income (loss) before income tax benefit ( 10,848 ) ( 12,618 ) ( 23,513 ) 22,243 Income tax expense (benefit) ( 110 ) 16,430 23 5,407 Net income (loss) $ ( 10,738 ) $ ( 29,048 ) $ ( 23,536 ) $ 16,836 Earnings (loss) per share Basic $ ( 0.26 ) $ ( 0.72 ) $ ( 0.58 ) $ 0.42 Diluted $ ( 0.26 ) $ ( 0.72 ) $ ( 0.58 ) $ 0.42 Weighted average shares outstanding Basic 40,922 40,219 40,787 40,030 Diluted 40,922 40,219 40,787 40,103 The accompanying notes are an integral part of these consolidated financial statements. 3 Table of Content AngioDynamics, Inc. and Subsidiaries CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) (in thousands of dollars) Three Months Ended Six Months Ended Nov 30, 2024 Nov 30, 2023 Nov 30, 2024 Nov 30, 2023 Net income (loss) $ ( 10,738 ) $ ( 29,048 ) $ ( 23,536 ) $ 16,836 Other comprehensive income (loss), before t

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 1. CONSOLIDATED FINANCIAL STATEMENTS The Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended November 30, 2024 and 2023, the Consolidated Balance Sheet as of November 30, 2024, the Consolidated Statements of Cash Flows for the six months ended November 30, 2024 and 2023, and the Consolidated Statements of Stockholders' Equity for the six months ended November 30, 2024 and 2023 have been prepared by the Company and are unaudited. The Consolidated Balance Sheet as of May 31, 2024 was derived from audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary to state fairly the financial position, changes in stockholders' equity and comprehensive income, results of operations and cash flows as of and for the period ended November 30, 2024 (and for all periods presented) have been made. The unaudited interim consolidated financial statements for the three and six months ended November 30, 2024 and 2023 include the accounts of AngioDynamics, Inc. and its wholly owned subsidiaries (collectively, the "Company", "we", "our" or "us"). All intercompany balances and transactions have been eliminated. 2. DIVESTITURES PICCs and Midlines Pursuant to an asset purchase agreement dated February 15, 2024 (the "Asset Purchase Agreement"), the Company completed the sale of the PICC and Midline businesses (the "Divestiture") to Spectrum Vascular ("Spectrum"). Total consideration received by the Company for the Divestiture in the third quarter of fiscal year 2024 was $ 34.5 million in cash and resulted in a pre-tax book gain of $ 6.7 million. Included in the agreement is a $ 5.5 million earn-out related to the sales of divested products over

View Full Filing

View this 10-Q filing on SEC EDGAR