2022 Q4 Form 10-Q Financial Statement

#000127518722000026 Filed on October 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $85.43M $81.54M $76.97M
YoY Change 9.13% 5.93% 9.62%
Cost Of Revenue $40.35M $39.23M $36.83M
YoY Change 6.96% 6.52% 6.91%
Gross Profit $45.08M $42.31M $40.14M
YoY Change 11.15% 5.4% 12.23%
Gross Profit Margin 52.77% 51.88% 52.15%
Selling, General & Admin $36.84M $36.64M $33.39M
YoY Change 10.69% 9.75% 27.14%
% of Gross Profit 81.73% 86.62% 83.18%
Research & Development $6.838M $8.333M $7.394M
YoY Change -16.6% 12.7% -17.93%
% of Gross Profit 15.17% 19.7% 18.42%
Depreciation & Amortization $7.818M $7.660M $6.997M
YoY Change 7.4% 9.48% 6.34%
% of Gross Profit 17.34% 18.11% 17.43%
Operating Expenses $53.19M $55.61M $48.24M
YoY Change 8.04% 15.27% 17.98%
Operating Profit -$8.115M -$13.30M -$8.100M
YoY Change -6.5% 64.21% 58.14%
Interest Expense $684.0K $381.0K $156.0K
YoY Change 293.1% 144.23% -27.44%
% of Operating Profit
Other Income/Expense, Net -$936.0K -$556.0K -$508.0K
YoY Change 408.7% 9.45% -264.4%
Pretax Income -$9.051M -$13.86M -$8.608M
YoY Change 2.12% 60.98% 78.85%
Income Tax -$565.0K -$853.0K -$1.636M
% Of Pretax Income
Net Earnings -$8.486M -$13.00M -$6.972M
YoY Change 1.62% 86.52% 63.36%
Net Earnings / Revenue -9.93% -15.95% -9.06%
Basic Earnings Per Share -$0.21 -$0.33 -$0.18
Diluted Earnings Per Share -$0.21 -$0.33 -$0.18
COMMON SHARES
Basic Shares Outstanding 39.11M shares 38.97M shares 38.73M shares
Diluted Shares Outstanding 39.49M shares 39.30M shares 38.73M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.86M $24.56M $35.47M
YoY Change -12.93% -30.75% -25.95%
Cash & Equivalents $29.86M $24.56M $35.47M
Short-Term Investments
Other Short-Term Assets $12.94M $15.61M $11.13M
YoY Change 12.5% 40.29% 39.1%
Inventory $63.18M $57.61M $49.31M
Prepaid Expenses
Receivables $52.85M $53.59M $35.42M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $158.8M $151.4M $131.3M
YoY Change 20.16% 15.27% -7.68%
LONG-TERM ASSETS
Property, Plant & Equipment $45.96M $46.19M $41.13M
YoY Change 6.65% 12.29% 39.78%
Goodwill $200.8M $201.0M $201.5M
YoY Change -0.47% -0.22% 0.27%
Intangibles $141.9M $148.0M $168.9M
YoY Change -13.97% -12.38% -13.08%
Long-Term Investments
YoY Change
Other Assets $10.72M $11.08M $12.93M
YoY Change -11.53% -14.29% -23.22%
Total Long-Term Assets $399.4M $406.3M $424.4M
YoY Change -5.34% -4.27% -3.87%
TOTAL ASSETS
Total Short-Term Assets $158.8M $151.4M $131.3M
Total Long-Term Assets $399.4M $406.3M $424.4M
Total Assets $558.2M $557.7M $555.8M
YoY Change 0.74% 0.35% -4.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.69M $29.26M $22.69M
YoY Change 43.39% 28.96% 61.96%
Accrued Expenses $26.53M $25.56M $26.89M
YoY Change -4.26% -4.96% 14.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $73.57M $66.39M $52.10M
YoY Change 35.05% 27.44% 30.75%
LONG-TERM LIABILITIES
Long-Term Debt $49.80M $49.80M $25.00M
YoY Change 99.18% 99.19% -37.5%
Other Long-Term Liabilities $3.524M $4.042M $8.383M
YoY Change -54.39% -51.78% -16.57%
Total Long-Term Liabilities $3.524M $4.042M $8.383M
YoY Change -54.39% -51.78% -16.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.57M $66.39M $52.10M
Total Long-Term Liabilities $3.524M $4.042M $8.383M
Total Liabilities $150.2M $143.6M $119.8M
YoY Change 23.42% 19.86% -6.91%
SHAREHOLDERS EQUITY
Retained Earnings -$179.9M -$171.4M -$138.8M
YoY Change 22.23% 23.47% 32.75%
Common Stock $593.9M $590.4M $576.8M
YoY Change 2.27% 2.36% 2.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.714M $5.714M $5.714M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 370.0K shares 370.0K shares 370.0K shares
Shareholders Equity $408.0M $414.0M $436.0M
YoY Change
Total Liabilities & Shareholders Equity $558.2M $557.7M $555.8M
YoY Change 0.74% 0.34% -4.8%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$8.486M -$13.00M -$6.972M
YoY Change 1.62% 86.52% 63.36%
Depreciation, Depletion And Amortization $7.818M $7.660M $6.997M
YoY Change 7.4% 9.48% 6.34%
Cash From Operating Activities $7.499M -$24.75M -$8.904M
YoY Change 286.35% 177.91% 64.13%
INVESTING ACTIVITIES
Capital Expenditures -$1.281M $809.0K $1.021M
YoY Change 13.26% -20.76% -44.02%
Acquisitions $0.00 $3.600M
YoY Change -100.0%
Other Investing Activities -$1.215M -$2.227M -$8.071M
YoY Change -55.3% -72.41%
Cash From Investing Activities -$2.496M -$3.576M -$9.092M
YoY Change -35.15% -60.67% 398.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $45.00M $0.00
YoY Change
Cash From Financing Activities 103.0K $24.38M $5.446M
YoY Change -89.07% 347.59% 1009.16%
NET CHANGE
Cash From Operating Activities 7.499M -$24.75M -$8.904M
Cash From Investing Activities -2.496M -$3.576M -$9.092M
Cash From Financing Activities 103.0K $24.38M $5.446M
Net Change In Cash 5.106M -$4.261M -$12.69M
YoY Change -628.57% -66.42% 95.04%
FREE CASH FLOW
Cash From Operating Activities $7.499M -$24.75M -$8.904M
Capital Expenditures -$1.281M $809.0K $1.021M
Free Cash Flow $8.780M -$25.55M -$9.925M
YoY Change 185.81% 157.47% 36.92%

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ProceedsOutlaysIssuanceOfSharesShareBasedPaymentArrangementIncludingOptionExercised
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CY2022Q3 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28825000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48161000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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426000 usd
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3024000 usd
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OtherComprehensiveIncomeLossNetOfTax
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StockholdersEquity
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2429000 usd
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CY2022Q3 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
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CY2022Q3 ango Contract With Customer Right Of Return Restocking Charge
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32474000 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
28251000 usd
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InventoryWorkInProcess
8113000 usd
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
7186000 usd
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
17022000 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
15955000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
57609000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
51392000 usd
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3800000 usd
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3700000 usd
CY2022 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 unit
CY2022Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2022Q3 us-gaap Number Of Reporting Units
NumberOfReportingUnits
2 unit
CY2022Q2 us-gaap Goodwill
Goodwill
201058000 usd
CY2022Q3 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
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CY2022Q3 us-gaap Goodwill
Goodwill
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314715000 usd
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FiniteLivedIntangibleAssetsAccumulatedAmortization
166739000 usd
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FiniteLivedIntangibleAssetsGross
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FiniteLivedIntangibleAssetsAccumulatedAmortization
161989000 usd
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FiniteLivedIntangibleAssetsNet
152380000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4800000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4800000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
25558000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
14134000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16780000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
16761000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
16580000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
16410000 usd
CY2022Q3 ango Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
67311000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
147976000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5353000 usd
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34842000 usd
CY2022Q3 us-gaap Number Of Operating Segments
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2 segment
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10109000 usd
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20232000 usd
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1518000 usd
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2986000 usd
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5917000 usd
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AccruedProfessionalFeesCurrent
3731000 usd
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1332000 usd
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1279000 usd
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SalesAndExciseTaxPayableCurrent
938000 usd
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SalesAndExciseTaxPayableCurrent
750000 usd
CY2022Q3 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
558000 usd
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CustomerRefundLiabilityCurrent
511000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5186000 usd
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
202000 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
49798000 usd
CY2022Q3 ango Effective Income Tax Rate Reconciliation Before Discreet Items Percent
EffectiveIncomeTaxRateReconciliationBeforeDiscreetItemsPercent
0.055
CY2021Q3 ango Effective Income Tax Rate Reconciliation Before Discreet Items Percent
EffectiveIncomeTaxRateReconciliationBeforeDiscreetItemsPercent
0.106
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3000000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2400000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
27100000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39302000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38734000 shares
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39302000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38734000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3821000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3443000 shares
CY2022Q3 us-gaap Assets
Assets
557700000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
81537000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
76971000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
42305000 usd
CY2021Q3 us-gaap Gross Profit
GrossProfit
40139000 usd
CY2022Q3 ango Gross Margin Percentage
GrossMarginPercentage
0.519
CY2021Q3 ango Gross Margin Percentage
GrossMarginPercentage
0.521
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2079000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
81537000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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76971000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
16948000 usd
CY2022Q3 ango Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
211000 usd
CY2022Q3 ango Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Currency Gain Loss From Remeasurement
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCurrencyGainLossFromRemeasurement
1000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
17158000 usd
CY2022Q3 ango Undiscounted Contingent Consideration Disclosure
UndiscountedContingentConsiderationDisclosure
20000000 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6335000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6974000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2588000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2560000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4008000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4703000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6596000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7263000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y21D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2183000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1419000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1125000 usd
CY2022Q3 ango Lessee Operating Lease Liability To Be Paid After Year Three
LesseeOperatingLeaseLiabilityToBePaidAfterYearThree
171000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6977000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
381000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6596000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2588000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4008000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
669000 usd
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
687000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
691000 usd
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
682000 usd
CY2022Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2022Q3 ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
5581000 usd
CY2021Q3 ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
2440000 usd
CY2022Q3 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
3500000 usd

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