AngioDynamics Inc at KeyBanc Capital Markets Life Sciences & MedTech Forum (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : You are reporting earnings in a couple of weeks, and I will wait for more detail then, but just -- could you just briefly describe how procedural trends have progressed over the past several months?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Yeah. Yeah, I think it makes sense to remind everybody around your fiscal year, which I think is poorly positioned around December and January. And so it makes sense to do that. On a longer-term basis, you've outlined the progression to high single-digit, low double-digit organic revenue growth over the next several years. Just -- what are some of the key internal changes you've made that enabled the durable improvement in your profile? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 22, 2022 / 7:45PM, ANGO.OQ - AngioDynamics Inc at KeyBanc Capital Markets Life Sciences & MedTech Forum (Virtual)

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Okay. So you have AlphaVac, Auryon, and NanoKnife. How has the current environment impacted your ability to build out these platforms?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Can you give --?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Okay. With AlphaVac, where are you now with the launch? Are you in a full commercial launch? Are you still in limited side of it? And then, can you just give your early takeaways from that commercial launch, what the doctors really liked and what differentiates the technology?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : I think the franchises are important, and I think it also helps people understand competitively where you're going up against. Could you better explain the -- where the French sizes are playing in the DVT markets? Who they're playing up against? And then where you're going up against thrombus in the leg versus thrombus in the upper body? There is a difference in where Inari is versus Penumbra and like where Boston's device or Becton are going to be playing.

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : And as you think about moving to a pulmonary embolism indication -- in order you've got two separate devices, one for DVT and one for PE, is your 18-French DVT device going to be the same as of what -- as the device that's also going to be going after the indication for PE where it could be dual indicated and it -- sufficiently, doctors could be able to use both for different indications?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : And I know you have -- we don't have the presentation up. It's a little -- it's in the presentation. But can you just talk about the TAMS as you go from

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Now that you've had success with AlphaVac from a clinical -- from a regulatory perspective, getting it through the FDA in a shorter period of time or condensed period of time, and you have commercial experience with doctors now using it, how should we think about what you embedded into that long-term outlook or long-term revenue growth for AlphaVac? And where do you -- are you ahead of maybe where you thought you would be at the current time?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Let's switch over to Auryon. Off to a great start -- I think during COVID, your ability to grow this and sequentially grow this I think has been very impressive. And I know I don't think you want to touch on the guidance, but I think your guidance of $25 million in FY '22 seems very achievable. Where do you see it go -- if we're in a normalizing environment from a COVID perspective, where do you see this going to from here?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Okay.

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : So your competitor is Spectranetics, which was acquired by Philips. How have they innovated their platform over the last five years? How do you view them as a competitor?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Okay. And then Medtronic just had a recall of their mechanical ather -- directional-- mechanical ather -- TurboHawk, right? Did that present an incremental opportunity for you or are they playing in different areas?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : So it's all-of-the-above strategy for Auryon, not just going out -- you have an opportunity to take it to 100% of the atherectomy market or is that -- is there some of that market that you're just not going to get to with a low-cost solution? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 22, 2022 / 7:45PM, ANGO.OQ - AngioDynamics Inc at KeyBanc Capital Markets Life Sciences & MedTech Forum (Virtual)

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Well, I'll bite on that one. What other areas do you think Auryon or the laser technology could play?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Okay. On the gross margin, it's been impacted by inflation, manufacturing inefficiencies. What do you view as transitory? And what do you think the normalized gross margin profile for Angio looks like as a whole?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Okay. I wanted to make sure I hit on this. There is an upcoming trial, I think July 5, between you and old C.R. Bard, which is now owned by Becton. Can you give people a little bit of context around what the arguments are between the two of you and exactly what type of damages you might be seeking from them?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Okay. When did you initially file this? If I'm remembering it correctly, I'm thinking five years ago?

Question: Matt Mishan - KeyBanc Capital Markets - Analyst : Yeah. Sometimes I forgot to ask the CFO question, but we got the General Counsel question in this go around. I think with that, we're pretty much out of time. Jim, Steve, thank you very much for joining us, and appreciate your support of this conference.