ANGO · AngioDynamics, Inc.

AngioDynamics delivered a strong fiscal third quarter, characterized by sustained double-digit growth in its Med Tech segment which offset softer performance in the Med Device segment. Total net sales rose 8.9% year-over-year to $78.4 million, primarily driven by the Med Tech segment's 19.0% growth to $37.3 million. Key growth drivers included the Auryon peripheral atherectomy platform (+17.9%), the Mechanical Thrombectomy portfolio (+17.9%), and the NanoKnife platform (+21.0%). Management highlighted that commercial adoption of the mechanical thrombectomy portfolio is building and that NanoKnife adoption is accelerating following the recent CPT 1 code for prostate procedures.

Profitability metrics showed mixed results. GAAP gross margin contracted 110 basis points to 52.9%, attributed to tariff impacts, inflation, and manufacturing transition costs. The company recorded $1.3 million in tariff-related expenses during the quarter. Despite margin pressure, operational discipline led to an improved Adjusted EBITDA of $1.8 million, up from $1.3 million in the prior-year period. The GAAP net loss was $8.1 million, or $0.19 per share.

Reflecting confidence in the business trajectory, management raised full-year FY2026 guidance for the third consecutive quarter. Net sales guidance was increased to a range of $313.5 million to $315.5 million, and Adjusted EBITDA guidance was raised to $10.0 million to $12.0 million. The company maintained its gross margin outlook and expects a $4.0 to $6.0 million impact from tariffs for the full fiscal year. While the company remains debt-free with $37.8 million in cash, it noted that proactive inventory building to address vendor sterilization shutdowns may result in slightly negative cash flow for the fiscal year.