In This Story
AngioDynamics Inc. (ANGO+2.67%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in net sales to $72.8 million from $79.1 million in the same quarter the previous year. The decrease is attributed to the sale of the PICCs, Midline, dialysis, and BioSentry businesses, as well as the discontinuation of certain product lines.
Gross profit for the quarter was $39.9 million, compared to $40.3 million in the previous year. The gross margin increased to 54.8% from 50.9%, due to changes in sales volume, price, and product mix.
Operating expenses included research and development costs of $6.4 million, selling and marketing expenses of $25.6 million, and general and administrative expenses of $10.4 million.
The company reported a net loss of $10.7 million for the quarter, compared to a net loss of $29.0 million in the previous year. The loss per share was $0.26, down from $0.72.
Cash used in operating activities was $15.8 million, while cash used in investing and financing activities was $4.4 million and $1.6 million, respectively.
AngioDynamics had cash and cash equivalents of $54.1 million as of November 30, 2024. The company continues to focus on restructuring its manufacturing footprint and transitioning to an outsourced model.
The filing also details various legal proceedings, including a settlement agreement with Becton, Dickinson and Company related to patent disputes.
AngioDynamics does not anticipate any significant changes to its liquidity position and believes that its current cash balance will meet its capital needs for at least the next 12 months.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AngioDynamics Inc. quarterly 10-Q report dated January 8, 2025. To report an error, please email earnings@qz.com.