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AngioDynamics Inc. (ANGO+5.17%) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing reports a decrease in net sales to $72.0 million for the quarter, down from $75.2 million in the same period the previous year. This decline is attributed to the divestiture of certain business lines, including PICCs, Midline, dialysis, and BioSentry.
Gross profit for the quarter was $38.9 million, an increase from $35.9 million in the previous year, with a gross margin of 54.0% compared to 47.7% in the prior year.
Operating expenses for the quarter included $6.9 million in research and development, $25.5 million in sales and marketing, and $10.5 million in general and administrative expenses.
The company reported a net loss of $4.4 million for the quarter, a significant improvement from the $187.7 million loss in the previous year. The previous year's loss included a $159.5 million goodwill impairment charge.
Cash used in operating activities for the nine months ended February 28, 2025 was $28.9 million, compared to $33.2 million in the previous year.
The company announced a restructuring plan to outsource manufacturing, which is expected to be completed by the third quarter of fiscal year 2026.
AngioDynamics has a share repurchase program authorized for up to $15.0 million, with $13.3 million remaining available as of the end of the quarter.
The report details legal proceedings, including a settlement agreement with Becton, Dickinson and Company related to patent litigation.
AngioDynamics continues to focus on expanding its Med Tech segment, which saw a 21.3% growth in the quarter, driven by products like Auryon and the thrombus management platform.
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 April 2, 2025. To report an error, please email earnings@qz.com.