AngioDynamics (ANGO) Investor Update summary

Strategic Transformation and Business Overview

• Shifted focus over five years to high-growth, high-margin med tech markets, optimizing the portfolio for innovation and value creation.

• Fiscal 2024 pro forma revenue reached $271M, with a strong, debt-free balance sheet and two global reporting segments: Med Tech and Med Device.

• Med Tech segment now projected to triple revenue to over $120 million by FY25, with a five-year CAGR above 25%.

• Med Tech segment, now over 40% of total revenue, is driven by three innovative platform technologies and is expected to be Adj. EBITDA positive by FY2025 and cash flow positive by FY2026.

• Med device segment provides stable earnings and cash flow to support ongoing investments in med tech.

Cardiovascular Portfolio and Market Dynamics

• Comprehensive cardiovascular portfolio includes Auryon (arterial), AngioVac, and AlphaVac (venous), targeting high-growth markets like VTE ($5.3B US TAM), PAD ($760M), and prostate care ($780M).

• Cardiovascular business leverages leading technology platforms for both arterial and venous disease, expanding total addressable markets to over $10 billion.

• Med Tech revenue has grown at a 25% CAGR over five years, with total addressable markets expanding from $1.3B in FY2018 to an estimated $10B by FY2025.

• Venous Thromboembolism (VTE) and Pulmonary Embolism (PE) markets remain underpenetrated, with mechanical thrombectomy expected to grow 16-20% in 2025.

• Sustainable revenue growth and profitability are projected for the coming years, supported by portfolio management and regulatory expansion.

Auryon Platform: Innovation and Clinical Impact

• Auryon laser system uses a unique 355-nanometer wavelength and ultra-short pulse width for precise, safe plaque removal.

• Over 100,000 patients treated since 2020 launch, with cumulative sales projected to exceed $180 million by FY25.

• Demonstrates zero flow-limiting dissections and minimal perforations in studies, with strong safety and efficacy.

• Versatile across lesion types and vessel locations, including above/below knee and in-stent restenosis.

• System features include no calibration, minimal warm-up, portability, and built-in aspiration to reduce embolization risk.