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Oct 8, 2026, 7:17 AM ETHealthcare

AngioDynamics — Fiscal Year 2027 First Quarter Earnings Summary

ANGOANGIODYNAMICS INC
Source

Financial Performance

  • Net sales reached $80.9 million for the quarter ended August 31, 2026, representing a 6.9% year-over-year increase compared to $75.7 million in the prior-year period.
  • Med Tech net sales were $39.9 million, a 13.2% increase from $35.3 million in the prior-year period.
  • Med Device net sales were $41.0 million, a 1.4% increase from $40.4 million in the prior-year period.
  • GAAP gross margin was 59.4%, an improvement of 410 basis points from 55.3% in the prior-year quarter; excluding $1.2 million in tariff refunds, gross margin would have been 57.8%.
  • GAAP net loss was $7.1 million ($0.17 per share), improving from a net loss of $10.9 million ($0.26 per share) in the prior-year quarter.
  • Adjusted net loss was $1.8 million ($0.04 per share), compared to an adjusted net loss of $4.2 million ($0.10 per share) in the prior-year quarter.
  • Adjusted EBITDA was $5.0 million, an increase from $2.2 million in the prior-year quarter.
  • Cash used in operating activities was $15.3 million, compared to $15.9 million in the prior-year quarter.
  • The company maintained a debt-free balance sheet with $34.0 million in cash as of August 31, 2026.
  • Tariff-related expenses were $0.9 million, offset by $1.2 million in refunds, resulting in a net tariff benefit of $0.4 million.

Guidance and Future Outlook

  • The company reiterated its fiscal year 2027 guidance, expecting net sales between $336.0 million and $341.0 million.
  • Med Tech net sales growth is guided for 12% to 15%, while Med Device net sales growth is guided to be flat.
  • Full-year gross margin is guided between 54% and 55%.
  • Adjusted EBITDA is guided between $13.0 million and $16.0 million.
  • Adjusted EPS is guided between ($0.29) and ($0.24).
  • Management expects gross margin to be lower in the second half of fiscal 2027 than in the first half.
  • Tariff impact for fiscal 2027 is expected to be broadly similar to fiscal 2026, excluding any tariff refunds.

Business Segments and Product Lines

  • Auryon sales were $18.9 million, a 14.7% increase year-over-year, marking the 21st consecutive quarter of double-digit atherectomy growth.
  • Mechanical Thrombectomy sales totaled $12.0 million, a 6.7% increase year-over-year.
  • AlphaVac sales grew 37.4% year-over-year and 6.4% sequentially.
  • AngioVac sales declined 5.9% year-over-year but grew 9.1% sequentially.
  • NanoKnife sales were $8.3 million, a 29.0% increase year-over-year, driven by 24.1% growth in probes and 53.5% growth in capital sales.
  • The company received FDA IDE approval for the RELIEF study evaluating NanoKnife IRE for the treatment of benign prostatic hyperplasia.

Market and Competitive Landscape

  • The company operates in fast-growing healthcare markets focusing on unmet patient needs in vascular health and cancer treatment.
  • The RELIEF study aims to expand the NanoKnife IRE platform's addressable market beyond oncology into benign prostatic hyperplasia.

Risks and Challenges

  • Gross margin is subject to manufacturing transitions, global inflation, and dynamic tariff situations.
  • Forward-looking statements are subject to risks including regulatory actions, clinical trial results, economic conditions, supply chain challenges, and competition.

Management Commentary and Tone

  • CEO Jim Clemmer stated that results reflect "continued, consistent execution" and expressed confidence in delivering the fiscal 2027 outlook.
  • Jim Clemmer announced his retirement after ten years leading the company.
  • Eric Honroth was appointed President and Chief Executive Officer, effective November 2, 2026, and will remain as an executive advisor to support the transition.
  • Management emphasized a focus on fundamentals and the strength of the Med Tech segment.

Other Key Points

  • The company delivered its eighth consecutive quarter of double-digit Med Tech segment growth and positive adjusted EBITDA.
  • CEO transition expenses of $770,000 were included in acquisition, restructuring, and other items for the quarter.
  • Plant closure expenses related to manufacturing footprint restructuring were $617,000.
  • Legal expenses related to litigation outside the normal course of business were $406,000.
  • The company will host a conference call on the announcement date at 8:00 am ET.