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angiodynamics AngioDynamics Reports Fiscal 2022 First Quarter Financial Results ; Updates Guidance September 30 , 2021 Fiscal 2022 First Quarter Highlights • Net sales of $ 77.0 million increased 9.6 % compared to the prior - year quarter • Gross margin of 52.1 % increased 120 basis points year over year • GAAP loss per share of $ 0.18 , and adjusted loss per share of $ 0.02 • The Company commenced a Limited Market Release of its AlphaVac Mechanical Thrombectomy device in September LATHAM , N.Y .-- ( BUSINESS WIRE ) -- Sep . 30 , 2021-- Angio Dynamics , Inc. ( NASDAQ : ANGO ) , a leading provider of innovative , minimally invasive medical devices for vascular access , peripheral vascular disease , and oncology , today announced financial results for the first quarter of fiscal year 2022 , which ended August 31 , 2021 . " We had a solid first quarter , and our team continues to deliver strong revenue performance and invest in our growth drivers while advancing our ongoing transformation , " commented Jim Clemmer , President and Chief Executive Officer of Angio Dynamics . " We remain committed to investing in our Med Tech platforms to drive sustainable growth while managing through COVID - related headwinds to both our revenue and gross margin . Auryon and NanoKnife accelerated their strong trajectories while continuing to gain support from clinicians , and we commenced the limited market release of our AlphaVac mechanical thrombectomy device . I am excited about the future of Angio Dynamics , as our team continues to execute against the strategic plan that we laid out at our Investor & Technology Day . " First Quarter 2022 Financial Results Net sales for the first quarter of fiscal 2022 were $ 77.0 million , an increase of 9.6 % compared to the prior - year quarter . Foreign currency translation did not have a significant impact on the Company's sales in the quarter . Med Tech net sales were $ 17.6 million , a 68.0 % increase from $ 10.5 million in the year - ago period , while Med Device net sales were $ 59.4 million , roughly flat compared to $ 59.7 million in the year ago period , which included the previously disclosed non - recurring $ 5.2 million order from the National Health Service ( NHS ) in the UK . Med Tech includes the Auryon platform , mechanical thrombectomy and the NanoKnife irreversible electroporation platform . • Endovascular Therapies ( formerly Vascular Interventions and Therapies ) net sales were $ 38.1 million , an increase of 27.5 % , compared to $ 29.9 million a year ago . Growth was driven by broad strength across the business relative to the prior - year period , led by sales of the Auryon platform of $ 5.9 million . • Oncology net sales were $ 14.0 million , an increase of 13.9 % , compared to $ 12.3 million in the prior - year period . The year - over - year growth was primarily due to increased sales of both NanoKnife capital and disposables , partially offset by continued softness in our international markets . • Vascular Access net sales were $ 25.0 million , a decline of 11.2 % , compared to $ 28.1 million a year ago . Excluding the non - recurring $ 5.2 million NHS sale in the year - ago period , Vascular Access revenue increased 9.0 % . U.S. net sales in the first quarter of fiscal 2022 were $ 64.5 million , an increase of 19.1 % from $ 54.1 million a year ago . International net sales were $ 12.5 million , a decrease of 22.4 % , compared to $ 16.1 million a year ago . Gross margin for the first quarter of fiscal 2022 was 52.1 % , an increase of 120 basis points compared to the first quarter of fiscal 2021 , which included costs related to the Company's COVID - related operating plan that did not recur in the first quarter of fiscal 2022. During the quarter , gross margin was negatively impacted by macro forces including labor shortages and increased expenses for labor , raw materials and freight . Gross margins also continued to be impacted by Auryon startup costs . The Company recorded a net loss of $ 7.0 million , or a loss per share of $ 0.18 , in the first quarter of fiscal 2022. This compares to a net loss of $ 4.3 million , or a loss per share of $ 0.11 , a year ago . Excluding the items shown in the non - GAAP reconciliation table below , adjusted net loss for the first quarter of fiscal 2022 was $ 0.9 million , and adjusted loss per share was $ 0.02 , compared to adjusted net income in the prior - year period of $ 0.6 million and adjusted earnings per share of $ 0.02 . Adjusted EBITDA in the first quarter of fiscal 2022 , excluding the items shown in the reconciliation table below , was $ 3.6 million , compared to $ 4.5 million in the first quarter of fiscal 2021 . During the first quarter of fiscal 2022 , the Company made a tuck - in acquisition of a support catheter product for use in conjunction with the Auryon atherectomy platform . The Company drew $ 5.0 million against its revolving credit facility during the quarter to fund this acquisition . In the first quarter of fiscal 2022 , the Company used $ 8.9 million in operating cash , had capital expenditures of $ 1.0 million and additions to Auryon placement and evaluation units of $ 4.5 million . As of August 31 , 2021 , the Company had $ 35.5 million in cash and cash equivalents compared to $ 48.2 million in cash and cash equivalents on May 31 , 2021. The Company had debt outstanding of $ 25.0 million on August 31 , 2021 compared to $ 20.0 million on May 31 , 2021 .