AngioDynamics Inc Q2 2024 Earnings Call Transcript

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

Question: Yi Chen - H.C. Wainwright., LLC - Analyst : Thank you for taking my questions. I just want to clarify, the gross margin, will it continue to decrease until you complete the shift to also a third party manufacturer?

Question: Yi Chen - H.C. Wainwright., LLC - Analyst : Thank you. And regarding the sales from Thrombectomy, are there any factors that you expect to drive the sales, increase the sales in the coming year?

Question: Yi Chen - H.C. Wainwright., LLC - Analyst : That's very helpful. Thank you very much.

Question: Jon Young - Canaccord Genuity Group Inc. - Analyst : Hey, Jim, can you hear me, okay?

Question: Jon Young - Canaccord Genuity Group Inc. - Analyst : Good morning. Thanks for taking our question. Just maybe on AngioVac to start, can you go more a little bit more in detail about the headwinds they are talking about? I know in the past you put new sales leadership and training there, and you recently got the breakthrough device designation, the right heart vegetation. What isn't working there, and what you can do to remedy this?

Question: Jon Young - Canaccord Genuity Group Inc. - Analyst : Great. Thanks, Jim. And then just on shifting to AlphaVac 2, you mentioned that the 2.0 that's in our launch this calendar year. Can you talk about the improvements, and are you going to seek any ASP increases with that? And can you maybe just talk about today the pricing versus the market, and your pricing on par or above or below target? Thank you.

Question: Jon Young - Canaccord Genuity Group Inc. - Analyst : Great. Thank you so much.

Question: Jayson Bedford - Raymond James Financial, Inc. - Analyst : Good morning, guys, and happy new year here. Just a few questions. On the AlphaVac improvements, just from a regulatory standpoint, do they require an additional 510(K) or can you launch them without any new regulatory approvals?

Question: Jayson Bedford - Raymond James Financial, Inc. - Analyst : Okay. And then just on Thrombectomy, you mentioned some procedural softness late in the quarter. I'm just wondering, what do you attribute the softness to?

Question: Jayson Bedford - Raymond James Financial, Inc. - Analyst : And have you seen a bit of a rebound in December?

Question: Jayson Bedford - Raymond James Financial, Inc. - Analyst : And just -- what's the logistical process of moving to a fully outsourced model? How is this going to work?

Question: Jayson Bedford - Raymond James Financial, Inc. - Analyst : Okay. Just maybe a last one for me for now. Cash flow, I think you had a goal out there, $65 million, $70 million cash exiting the year. Is that still on the table?

Question: Jayson Bedford - Raymond James Financial, Inc. - Analyst : So -- sorry, still $65 million to $70 million or towards the low end?

Question: Jayson Bedford - Raymond James Financial, Inc. - Analyst : Okay. Thank you.

Question: Steven Lichtman - Oppenheimer & Co., Inc. - Analyst : Thank you. Good morning, guys. I guess just, first, a couple of cleanup questions on the manufacturing shift. What percent of Med Device is outsourced currently, and what anticipated cash costs of the transition should we assume?

Question: Steven Lichtman - Oppenheimer & Co., Inc. - Analyst : Okay. Just sticking to Auryon, can you provide some more color on the pre-op headwinds you mentioned and what you're seeing on that front as we've gone into this fiscal quarter?

Question: Steven Lichtman - Oppenheimer & Co., Inc. - Analyst : Thanks, Jim. And then I guess just lastly, I don't think you mentioned anything today about indication expansion for Auryon, including this small vessel, the key, and potentially coronary? Any update on those? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 05, 2024 / 1:00PM, ANGO.OQ - Q2 2024 AngioDynamics Inc Earnings Call

Question: Steven Lichtman - Oppenheimer & Co., Inc. - Analyst : And nothing new on small [vessel] -- talking back to (technical difficulty)?

Question: Steven Lichtman - Oppenheimer & Co., Inc. - Analyst : Okay. Got it. Thanks, Jim. Thank Steve.