ANGO Earnings: AngioDynamics reports loss for Q3; revenue up 9%

AngioDynamics Inc. (NASDAQ: ANGO) on Thursday reported a wider loss for the third quarter when the medical device maker’s revenues increased by 9%. The company also provided guidance for fiscal 2023.

AngioDynamics reported an adjusted net loss of $0.03 per share for the third quarter, compared to earnings of $0.03 per share in the year-ago period. On an unadjusted basis, it was a net loss of $9.49 million or $0.24 per share, compared to a loss of $4.96 million or $0.13 per share in the third quarter of 2022.

Meanwhile, third-quarter revenues increased 9% year-over-year to $80.7 million. The management expects full-year revenues to be in the range of $338 million to $342 million.

“We continued to make solid progress during the quarter executing on our strategic plan. Auryon, AlphaVac, NanoKnife, and our Med Device portfolio were bright spots during the third quarter, and while we experienced continued softness in AngioVac, we have taken steps to address the performance, and it remains an important driver for AngioDynamics’ growth,” said Jim Clemmer, CEO of AngioDynamics.