AngioDynamics, Inc. (NASDAQ: ANGO) stock fell over 2.7% on 14th July, 2021 (As of 12:58:52 UTC-4 · USD; Source: Google finance) post fourth quarter of FY 21. ANGO in the fourth quarter of FY 21 has reported the adjusted earnings per share of less than 1 cent, which is a turnaround from EPS of (0.06) posted a year ago. The company had reported the adjusted revenue growth of 32 percent to $76.8 million in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $72.67 million.
During the year, the company had initiated and executed the strategic research and development and sales and marketing investments in the growth platform. These investments drove growth in FY ’21 and are poised to facilitate accelerating top-line growth into FY ’22 and beyond. The positive trend within the Auryon business continued into the fourth quarter with revenue of $4.6 million, bringing total FY ’21 Auryon revenue to $11.1 million. AngioVac platform revenue rose 14% sequentially in the fourth quarter, with year-over-year growth of 47% in FY ’21. Further, the company is thrilled about the recent 510(k) clearance of AlphaVac, the new multi-purpose mechanical thrombectomy device. This device expands the breadth of the AngioVac platform and will allow the company to serve a much larger segment of the venous thromboembolism market.
Moreover, NanoKnife probe sales were strong in the fourth quarter, growing 14% sequentially worldwide and 19% sequentially in the United States. As expected, the capital sales in the quarter fell 77% year-over-year as the company is coming off a strong prior-year quarter due to the launch of our NanoKnife 3.0 generator as well as a challenging capital environment. The company remains focused on investing in the NanoKnife platform as the company progress toward expanding potential for new indications and improving OUS environment in the future. The company anticipates continued strong probe sales growth in FY ’22. The total endovascular Therapies business, which was formerly named our VIT business, grew 72.3% year-over-year to $38.1 million. This increase was driven by the greater impact of COVID-19 on the prior year period, and the continued strength of two important growth products: AngioVac, which grew 108% year-over-year, and Auryon.
AngioDynamics expects full-year 2022 revenue to be in the range of $305 million to $310 million, higher than the consensus of $297.9 million. The company expects the adjusted EPS to be in the range of $0.00 to $0.05 is lower than the consensus of $0.07. For FY ’22, the company expects Auryon to continue to grow meaningfully and generate revenue to be in the range of $18 million to $22 million.