ANGO

A month has gone by since the last earnings report for AngioDynamics (ANGO). Shares have added about 8.9% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is AngioDynamics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. AngioDynamics reported an adjusted loss per share of 7 cents for fourth-quarter fiscal 2026, wider than the year-ago quarter’s adjusted loss of 3 cents but narrower than the Zacks Consensus Estimate of a loss of 11 cents. On a pro-forma basis (excluding the divested Dialysis and BioSentry businesses, the divested PICC and Midline product portfolios and the discontinued Radiofrequency and Syntrax products), adjusted loss per share for fourth-quarter fiscal 2025 was also 7 cents, wider than the 5 cents reported in the year-ago quarter. On a pro-forma basis, the fiscal fourth-quarter GAAP loss per share was 27 cents, wider than the year-ago period’s 15 cents. Full-year fiscal 2026 adjusted loss per share was 15 cents, flat compared to the figure at the end of the fiscal 2025 period. The figure came narrower than the Zacks Consensus Estimate of a loss of 23 cents per share. On a pro-forma basis, full-year fiscal 2026 adjusted loss per share was 24 cents, narrower than 25 cents at the end of the comparable fiscal 2025 period. Revenues in the fiscal fourth quarter totaled $86.6 million, up 8% year over year both on a reported and pro forma basis. The top line beat the Zacks Consensus Estimate by 7.6%. The company continued to see strong contributions from its Med Tech (which includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform) and Med Device businesses during the quarter. Full-year fiscal 2026 revenues were $320.2 million, up 9.5% on a reported basis and up 9.4% on a pro forma basis from the comparable fiscal 2025 period. The figure topped the Zacks Consensus Estimate by 1.9%. Shares of this company traded flat during yesterday’s after-hours trading. In the quarter under review, U.S. net revenues totaled $73.6 million, up 9.1% year over year both on a reported and pro forma basis. This figure compares to our U.S. net revenues’ fiscal fourth-quarter projection of $69 million. International revenues came in at $13 million, up 2.7% from the year-ago quarter, both on a reported and pro forma basis. This figure compares to our fiscal fourth-quarter International revenues’ projection of $11.5 million. Med Tech The Med Tech business’ net sales in the fiscal fourth quarter were $41.8 million, reflecting an uptick of 16.7% year over year, both on a reported and pro forma basis. This figure compares to our fiscal fourth-quarter Med Tech business’ net sales projection of $38.2 million. The rise was primarily on the back of increased net sales of Auryon, amounting to $17.8 million (up 14.4% year over year), Mechanical Thrombectomy revenues (which include AngioVac and AlphaVac) of $11.1 million (down 1.1% year over year) and NanoKnife sales of $11.8 million (up 64.5% year over year). In the quarter, AngioVac revenues were $6.9 million (down 15.8% year over year) and AlphaVac revenues were $4.2 million (up 38.4% year over year). Total NanoKnife revenues included 47% growth in probes and 132.5% growth in capital sales. Med Device Med Device’s revenues in the fiscal fourth quarter grossed $44.8 million, up 1.1% from the year-ago period. This figure compares to our fiscal fourth-quarter Med Device business’ net sales projection of $42.3 million. In the quarter under review, AngioDynamics’ pro forma gross profit rose 10.8% to $46.8 million. The pro forma gross margin expanded 130 basis points to 54%. We had projected a pro forma gross margin of 52.3% for fourth-quarter fiscal 2025. Sales and marketing expenses on a pro forma basis increased 17.7% to $31.1 million year over year. Research and development expenses on a pro forma basis increased 24.1% year over year to $8.2 million, whereas general and administrative expenses on a pro forma basis increased 0.3% to $10.3 million. On a pro forma basis, adjusted operating expenses of $56.9 million increased 18.7% year over year. Total operating loss on a pro forma basis totaled $10.2 million compared with the prior-year quarter’s loss of $5.8 million. AngioDynamics exited fiscal 2026 with cash and cash equivalents of $53.9 million compared with $37.8 million at the fiscal third-quarter end. The company ended the quarter with no debt on its balance sheet. Cumulative net cash provided by operating activities at the end of fiscal 2026 was $3.1 million, against the cumulative net cash used in operating activities of $10.1 million a year ago. AngioDynamics has initiated its guidance for fiscal 2027. The company expects its net sales to be in the range of $336 million-$341 million, representing growth of 5-6.5% from the comparable fiscal 2026 period. The Zacks Consensus Estimate is currently pegged at $325.1 million. AngioDynamics expects its Med Tech revenue growth to be in the range of 12-15%, while Med Device revenue growth is projected to be flat over the comparable fiscal 2026 period. Management expects the impact from tariffs to be broadly similar to fiscal 2026. The adjusted loss per share is projected to be between 29 cents and 24 cents. The Zacks Consensus Estimate is currently pegged at a loss of 13 cents per share. Since the earnings release, investors have witnessed a downward trend in estimates revision. The consensus estimate has shifted -66.67% due to these changes. Currently, AngioDynamics has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock has a grade of D on the value side, putting it in the bottom 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise AngioDynamics has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in AngioDynamics, Inc.? Here are five stocks we like better. MedTech is expected to become AngioDynamics’ majority revenue source in fiscal 2027, rising from 47% of fiscal 2026 revenue. Management forecasts 12%–15% MedTech growth, driven by Auryon, mechanical thrombectomy products and NanoKnife. Auryon generated about $68 million in fiscal 2026, while AlphaVac grew 44% and NanoKnife rose 64% in the latest quarter. The company is expanding sales capacity and pursuing clinical and regulatory programs to broaden these platforms. AngioDynamics expects fiscal 2027 gross margin of 54%–55% and adjusted EBITDA of $13 million–$16 million as the higher-margin MedTech mix increases. CEO Jim Clemmer plans to retire by year-end, and the board is searching for his successor. AngioDynamics (NASDAQ:ANGO) expects its MedTech business to become the majority of company revenue in fiscal 2027, as the company continues a multiyear shift away from slower-growth legacy markets and toward higher-growth medical technology platforms, executives said during a Canaccord fireside chat. Chief Financial Officer Stephen Trowbridge said MedTech represented about 17% of AngioDynamics’ revenue when the transformation began several years ago and reached 47% in fiscal 2026. The segment grew 19% in the company’s latest fiscal year, following seven consecutive quarters of double-digit growth, according to the discussion. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat “This fiscal year, which started on June 1st for us, we're going to cross over that threshold, and it's going to become the majority of our revenue base,” Trowbridge said. The company expects MedTech to continue producing double-digit growth, with fiscal 2027 guidance calling for segment growth of 12% to 15%. AngioDynamics identified three primary contributors to MedTech growth: Auryon for peripheral artery disease, mechanical thrombectomy products including AngioVac and AlphaVac, and the NanoKnife oncology platform. → 3 Dividend Champion Utilities for a Market That Can't Sit Still Trowbridge said investors should generally view MedTech’s growth profile in the mid-teens to 20% range. Auryon, which uses laser technology to treat plaque and calcium in arteries, generated approximately $68 million in revenue in fiscal 2026 after having no U.S. revenue when AngioDynamics acquired the business five years earlier. The company expects Auryon to grow around 15% going forward, though it has recently grown faster than that level. CEO Jim Clemmer said AngioDynamics entered the Auryon market as the sixth participant and has gained share from larger competitors. Trowbridge attributed the product’s growth to its ability to be used above and below the knee, as well as in in-stent restenosis. He said roughly half of Auryon procedures have been above the knee and half below the knee since launch. → Is Wingstop's Growth Story Losing Steam? The company’s AMBITION BTK study, which compares Auryon with balloon angioplasty against balloon angioplasty alone for below-the-knee treatment, remains in enrollment and has expanded internationally. Trowbridge said investors should not expect data from the study in fiscal 2027. Management also discussed a potential coronary application for Auryon. Trowbridge said the opportunity is likely to require a premarket approval process and a study lasting about four years. The company is in discussions with the U.S. Food and Drug Administration but did not provide a timing target for regulatory approvals. Mechanical thrombectomy is another area of investment, with AlphaVac growing 44% in fiscal 2026, according to Trowbridge. While the business declined about $500,000 sequentially in the fiscal fourth quarter, Clemmer said AngioDynamics remains bullish on the opportunity, which management estimates has a total addressable market of roughly $3 billion and is only about 15% penetrated. The company changed sales leadership in February and added 20 sales representatives. Clemmer said the new hires include experienced personnel familiar with the market, competitive dynamics and physician relationships, which he believes can shorten the typical six- to nine-month ramp to productivity. AngioDynamics expects its APEX-Return study to support a blood-return feature for AlphaVac in pulmonary embolism procedures, with the product potentially reaching the market early next calendar year. The company is also advancing the PAVE trial for AngioVac in right-heart treatment of infective endocarditis. Trowbridge said the programs support existing uses of the technologies and may establish a foundation for longer-term platform expansion. NanoKnife posted 64% growth in the latest fiscal fourth quarter, while disposables grew 47%, driven primarily by procedure volume rather than customer stocking, Clemmer said. The platform is used to treat men with intermediate-risk prostate cancer, a population management said totals about 150,000 annual diagnoses in the U.S. AngioDynamics received a favorable local coverage determination from Medicare Administrative Contractor Palmetto GBA for NanoKnife treatment in prostate and liver applications, effective July 5. Trowbridge said the company plans to use its approach with Palmetto as a model for pursuing broader reimbursement coverage across other regions. The company also announced the RELIEF pilot study for benign prostatic hyperplasia, or BPH. Trowbridge said the study follows physician feedback that NanoKnife may address BPH in addition to prostate cancer treatment. However, he said the BPH opportunity is not expected to be a meaningful fiscal 2027 growth driver. AngioDynamics guided to fiscal 2027 gross margin of 54% to 55% and adjusted EBITDA of $13 million to $16 million. Trowbridge said the growing share of MedTech revenue should support margin expansion because MedTech has gross margins in the mid-60% range, compared with the legacy Med Device segment’s mid-40% range. Tariffs are expected to have a broadly similar impact to the prior year, when they cost about $5 million, Trowbridge said. The company had initially projected about $4 million of tariff impact, with changes in the tariff environment potentially adding roughly $500,000. Tariff refunds were not included in guidance, although the company received about $1 million in refunds during its fiscal first quarter, he said. Separately, the company is nearing completion of its transfer of higher-labor-content manufacturing from Queensbury to a third-party partner in Costa Rica. The move was initially intended to increase capacity amid a tight labor market, according to Trowbridge. Clemmer also reiterated that he plans to retire by the end of the calendar year. AngioDynamics’ board is conducting a search for his successor. For fiscal 2027, Trowbridge said investors should watch continued growth across the three MedTech platforms, further EBITDA expansion and positive cash flow generation. He added that the company currently has no debt on its balance sheet. AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company's products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings. In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "AngioDynamics Sees MedTech Becoming Majority of Revenue in Fiscal 2027" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Image source: The Motley Fool. Tuesday, July 14, 2026 at 8:00 a.m. ET President and Chief Executive Officer - Jim Clemmer Executive Vice President and Chief Financial Officer - Steve Trowbridge Operator: Good morning, and welcome to the AngioDynamics fiscal year 2026 fourth quarter and full year earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference call is being recorded. The news release detailing AngioDynamics fiscal 2026 fourth quarter and full year results crossed the wire earlier this morning and is available on the company's website. This conference call is also being broadcast live over the internet at the investors section of the company website at www.angiodynamics.com. A webcast replay of the call will be available at the same site approximately one hour after the end of today's call. Before we begin, I'd like to caution listeners that during the course of this conference call, the company will make projections or forward-looking statements regarding future events, including statements about expected revenue, adjusted earnings, and gross margin for fiscal year 2027, as well as trends that may continue. Management encourages you to review the company's past and future filings with the SEC, including, without limitation, the company's Forms 10-Q and 10-K, which identify specific factors that may cause the actual results or events to differ materially from those described in the forward-looking statements. The company will also discuss certain non-GAAP and pro forma financial measures during this call. Management uses these measures to establish operational goals and review operational performance and believes that these measures may assist investors in analyzing the underlying trends in the company's business over time. Investors should consider these non-GAAP and pro forma measures in addition to, not a substitute for, or as superior to, financial reporting measures prepared in accordance with GAAP. A slide package offering insight into the company's financial results is also available in the investors section of the company's website under events and presentations. This presentation should be read in conjunction with the press release discussing the company's operating results and financial performance during this morning's conference call. Unless otherwise noted, all metrics and growth rates mentioned during today's call are on a pro forma basis, which exclude the results of the Dialysis and BioSentry businesses that were divested in June 2023, the PICC and Midline products that were also divested in February 2024, and the RadioFrequency and Syntrax support catheter products that we discontinued in February 2024. Also, unless otherwise noted, all comparisons will be the fourth fiscal quarter of 2026 versus the fourth fiscal quarter of 2025, and the full fiscal year 2026 versus the full fiscal year of 2025. Now, I would like to turn the call over to Jim Clemmer, AngioDynamics President and Chief Executive Officer. Mr. Clemmer? Jim Clemmer: Thank you, and good morning, everyone, and thank you for joining us for AngioDynamics' fiscal 2026 fourth quarter and full year earnings call. Joining me today is Steve Trowbridge, our Executive Vice President and Chief Financial Officer. I am proud of our performance in fiscal 2026. We capped off a year of consistent execution across the business with a strong fourth quarter. Full-year Med Tech growth of more than 18% tells the story. Our platform technologies across cardiovascular and interventional oncology took share in large, fast-growing markets. Because of the discipline this team brings every day, that growth came with increasing profitability, even as we absorb tariffs that were not in our business a year ago. With a full year now behind us, I want to step back and talk about what this team accomplished in fiscal 2026, what we built, and why I believe this company is in the strongest position it ever has been in. Steve will then take you through the financial details and our outlook for fiscal 2027. A number of years ago, we set out to transform AngioDynamics into a fast-growing, profitable company by bringing innovation to large global markets. Fiscal 2026 was another year of proof that the strategy is working and is playing out the way we said it would. Our Med Tech segment was 47% of our total revenue this year, up from roughly 22% at the end of fiscal 2020. Over the past six years, that business has grown at a compound annual rate of approximately 24%. We have done all of this while driving sustained profitability. I want to be clear about why that matters, because it did not just happen by accident. It's not because we did one thing right. This is years of work coming together. It is a group of people doing the right things every day in the right markets for the right patients. Now let me take you around the portfolio. Starting with Auryon, which delivered its 20th consecutive quarter of double-digit year-over-year growth. We keep winning by taking share across all sites of care. Auryon remains a really strong performer for us. We are excited about where this platform can go from here. Turning to Mechanical Thrombectomy. Collectively, this portfolio grew double digits during the year, driven by strong performance with both AlphaVac and AngioVac. Physician feedback on both products remains consistently strong. Our work in an increasingly competitive market is getting these products into more hands. That is squarely within our control. We have sharpened our commercial execution and accountability here. We are still early in the life cycle of this portfolio. We have meaningful catalysts directly ahead, including our AlphaReturn Blood Management System, where we now have IDE approval and an active pivotal trial, along with our AngioVac Right Heart Program. We expect this to be one of our key growth engines for a long time to come. Turning to NanoKnife. This unique product was a standout this year and had an exceptional fourth quarter. In the U.S., the story is prostate. Physician interest and procedure volumes keep building. As a result, we hit record procedures during the quarter. Behind those results is a lot of deliberate work on the fundamentals that drive this business. We generated strong two-year data from our PRESERVE study. Our category 1 CPT code for prostate and liver became effective on January 1. During the quarter, we received a Medicare coverage framework that further supports patient access. All of that is coming together. We expect NanoKnife to keep growing. What connects all of this is intent. We built this portfolio purposefully around large markets with real clinical need, and the strength of our technology is allowing us to win and deliver value for everyone we serve, from patients and physicians to our shareholders. Underpinning that growth is our med device business that plays an essential role and continues to do exactly what we ask of it. A terrific team delivering steady, profitable growth from a portfolio of sticky market-leading products. Importantly, this business generates the cash generation profile and earnings foundation that lets us keep investing in our higher growth Med Tech platforms. If there is one theme that I want you to take away from in fiscal 2026, it is this. We are delivering above-market profitable growth consistently. We are taking share in the markets we set out to win, and we are doing it while expanding profitability and proving that the business can generate positive cash flow. We continue to invest in the clinical data behind our platforms, and Steve will highlight that shortly. It is really important for us. The headline for the year is simple. We are growing, we are profitable. We are continuing to invest for the future. That balance reflects how we run this business. It is exactly what gives me confidence in the years ahead. Before I hand it to Steve, a quick word on the leadership transition that we announced earlier this year. As I shared then, after a decade with our company, I intend to retire, and the board is running a comprehensive search with help from a leading executive search firm to identify our next CEO, which we expect to occur during the first half of fiscal 2027. Until my successor is in place, I will keep leading the team alongside Steve. I am committed to a seamless handoff. With that, let me turn the call over to Steve to take you through the quarter, the full year, and our outlook for fiscal 2027. Steve Trowbridge: Thanks, Jim. Good morning, everybody. As always, before I begin, I'd like to direct everyone to the presentation on our investor relations website summarizing the key items from our quarterly results. Unless otherwise noted, all metrics and growth rates mentioned during today's call are on a pro forma basis, which exclude the results of the Dialysis and BioSentry businesses that we divested in June 2023, PICC and Midline products that we divested in February 2024, and the RadioFrequency and Syntrax support catheter products that we discontinued also in February 2024. Unless otherwise noted, all comparisons will be the fourth fiscal quarter of 2026 versus the fourth fiscal quarter of 2025. Company top-line revenue performance was strong again in the quarter. Revenue increased 8% to $86.6 million, driven by growth across both our segments. Med Tech revenue was $41.8 million, a 16.7% increase. For the fourth fiscal quarter, our Med Tech platforms comprised 48% of our total revenue, compared to 45% of total revenue a year ago, reflecting the ongoing shift in our business mix. Within our med tech segment, our Auryon platform contributed $17.8 million in revenue, growing 14.4% compared to last year. Auryon has now delivered double-digit year-over-year growth for 20 consecutive quarters. This growth continues to be supported by our strategy to shift more of our atherectomy business towards the hospital side of care, while we keep growing our customer base across both the hospital and OBL settings, along with ongoing international adoption following our CE mark approval. Mechanical Thrombectomy revenue, which includes AngioVac and AlphaVac sales, was $11.1 million, a decrease of 1.1% year-over-year. In the quarter, AlphaVac revenue was $4.2 million, a 38.4% year-over-year increase, continuing its strong trajectory. AngioVac revenue was $6.9 million, a 15.8% year-over-year decrease. We are very encouraged by the catalysts ahead, including the IDE approvals for our AlphaReturn Blood Management System and our AngioVac right-sided infective endocarditis study. We're confident in the long-term opportunity for the combined portfolio. Mechanical Thrombectomy remains an attractive market in its early stage, with many competitors working to actively move patient care towards mechanical interventions from lytic-based therapies, which can lead to lumpiness quarter-to-quarter. This is a crowded space for good reason, and we have built the best portfolio, illustrated by our 13.4% growth in the year. We believe Mechanical Thrombectomy will grow faster for us for the full fiscal year 2027. Total NanoKnife revenue was $11.8 million, an increase of 64.5%, with probes growing 47% and capital sales growing 132.5%. Probe sales were primarily driven by demand for NanoKnife in prostate care, and we hit record procedure volumes during the quarter. As these systems are placed and new physicians and providers experience the improved patient outcomes our technology enables, we expect them to drive increased probe utilization going forward. I will note that capital sales are always lumpy quarter-to-quarter, so we would not expect capital to grow at this rate going forward. We continue to view Disposables as the bellwether for this business. In the fourth quarter, our Med Device segment increased 1.1% year-over-year with revenue of $44.8 million. This business generates consistent cash and profitability, allowing us to keep investing in the growth of our med tech platforms. Moving down the income statement, our gross margin for the fourth quarter of FY 2026 was 54%, a 130 basis point increase from the fourth quarter of FY 2025, driven primarily by the continued product mix shift towards our higher margin med tech sales, partially offset by tariffs. Total operating expenses in the quarter were $57 million, representing 66% of sales, compared to $48 million or 60% of sales last year. Turning to R&D, our research and development expense was $8.2 million or 9% of sales, compared to $6.6 million or 8% of sales a year ago. We remain committed to investing in R&D initiatives to support the long-term growth of our Med Tech segment and are targeting approximately 10% of sales going forward. SG&A expense for the fourth quarter of FY 2026 was $41.4 million, representing 48% of sales, compared to $36.7 million or 46% of sales a year ago. On a GAAP basis, our net loss for the fourth quarter was $11.4 million or a loss per share of $0.27, compared to a net loss of $6.1 million or a loss per share of $0.15 a year ago. Our adjusted net loss for the fourth quarter of FY 2026 was $2.8 million or an adjusted loss per share of $0.07 compared to an adjusted net loss of $1.1 million or an adjusted loss per share of $0.03 in the fourth quarter of last year. Adjusted EBITDA in the fourth quarter of FY 2026 was $3.3 million compared to adjusted EBITDA of $3.4 million in the fourth quarter of 2025. Touching briefly on tariffs, tariff expense of approximately $500,000 in the fourth quarter was in line with our expectations. It compared to $1.6 million in the prior year quarter. Turning to a quick review of the fiscal full year results. Revenue increased 9.4% to $320.2 million, primarily driven by growth across our Med Tech segment. Med Tech revenue was $150 million, an 18.4% increase. Our Auryon platform contributed $66.9 million in revenue, growing 17.7% compared to last year. Mechanical Thrombectomy revenue, which includes AngioVac and AlphaVac sales, increased 13.4% to $45 million year-over-year. AlphaVac had a strong year with revenue of $15.5 million, a 44.1% year-over-year increase, and AngioVac revenue was $29.5 million, a 2.1% year-over-year increase growing for the full year. Total NanoKnife revenue was $33.1 million, up 35.2%, with Disposables up 28.7% and Capital up 61.8% for the year. In fiscal 2026, our Med Device revenue was $170.2 million, an increase of 2.5%. Our gross margin for fiscal year 2026 was 54.6%, 70 basis point increase from 53.9% in the prior year. For the full year, total gross margin saw an approximate 150 basis point negative impact from tariffs. Turning to operating expenses, total operating expenses for the full year were $214.8 million or 67% of sales, compared to $197.8 million or 68% of sales a year ago. Our adjusted net loss for fiscal year 2026 was $10 million or an adjusted loss per share of $0.24, compared to an adjusted net loss of $10.2 million or an adjusted loss per share of $0.25 last year. On a GAAP basis, our total net loss for the full year was $36.7 million or a loss per share of $0.88, compared to a net loss of $34 million or a loss per share of $0.83 a year ago. Adjusted EBITDA in the full fiscal year 2026 was $13.2 million, compared to $7.6 million in fiscal year 2025. This year-over-year improvement is largely attributable to our Med Tech revenue growth and the success of our gross margin and operating efficiency initiatives, and we delivered it while absorbing tariff costs that were not in our business a year ago. For the full year, tariff expense was approximately $4.8 million compared to $1.6 million in the prior year, and this was in line with our expectations. That landed right within the $4 million-$6 million range we guided to at the start of the year, which I think speaks to our ability to forecast and manage these costs even in a dynamic environment. Turning to cash. In the fourth quarter, the company generated $17.5 million of cash from operations in line with our expectations. For the full fiscal year, the company generated $3.1 million of cash from operations. I want to put that full year number in context because it is inclusive of approximately $4.8 million of tariffs, as well as the working capital and inventory actions we took during the year to proactively manage through the sterilization vendor maintenance shutdowns. The fact that we still generated cash from operations for the year while absorbing all of that really speaks to the underlying cash generation profile of our business model. We ended fiscal year 2026 with $53.9 million in cash, and we maintained a strong debt-free balance sheet. Turning now to guidance. For the fiscal year 2027, we anticipate net sales to be in the range of $336 million-$341 million, representing growth of between 5% and 6.5% over fiscal 2026 revenue of $320.2 million. Within each of our businesses, we expect Med Tech net sales to grow 12%-15% year-over-year, and we expect Med Device sales to be roughly flat. For fiscal 2027, we expect gross margin to be in the range of 54%-55%. We expect adjusted EBITDA to be in the range of $13 million-$16 million. Finally, we expect adjusted loss per share in the range of $0.29-$0.24. We expect the impact from tariffs to be broadly similar to fiscal 2026. Based on our current view of the tariff situation, this remains dynamic and subject to change. Stepping back from the numbers, our fiscal 2027 outlook reflects our execution of the same playbook that allowed us to deliver the strength we saw in 2026. Compete in large, fast-growing markets, take share of better technology backed by strong clinical data, invest for growth, and turn that growth into increasing profitability. Let me give you some color on how we're thinking about the MedTech portfolio in fiscal 2027. Starting with Auryon, we expect it to remain a solid grower in the mid-teens range as we continue to expand on the hospital site of care, while growing across both the hospital and OBL settings, and as international adoption builds. In Mechanical Thrombectomy, we expect AlphaVac to continue its strong trajectory and for AngioVac to return to growth against more normal comparisons. In NanoKnife, we expect continued momentum in prostate with disposables as the primary driver and capital remaining lumpy from quarter-to-quarter as reimbursement and awareness continues to build. Underpinning all of this is our commitment to clinical data. We're not resting on the growth we've already built. We are prudently investing in high-quality clinical data across the portfolio to drive adoption and to expand the markets we can compete in. On the cardiovascular side, in addition to the APEX-Return and PAVE studies we are currently running, we have formed a global cardiovascular medical advisory board of leading physicians to help guide our clinical and product strategy, and we are expanding our AMBITION BTK study internationally. In interventional oncology, NanoKnife continues to build one of the strongest data engines in our space. From the two-year durability data from PRESERVE through FDA approval of the IDE for our RELIEF feasibility study, which takes our IRE technology into benign prostatic hyperplasia, one of the most common condition in men's health. In addition, at the AUA conference in May, independent investigators from Weill Medical College of Cornell University presented results from an investigator-initiated study, Radiation Therapy and Irreversible Electroporation for Intermediate-risk Prostate Cancer, or R-TIRE, which combines IRE with reduced dose radiation therapy. Key findings from the presentation included 42 patients enrolled, a 100% negative biopsy rate at 12 months, 90% reduction in PSA from baseline at three months, rapid recovery of quality of life following treatment, and no Grade 3 or higher adverse events. These fantastic results suggest that combining focal NanoKnife IRE treatment with reduced radiation may offer a powerful new treatment paradigm, convince the investigators to conduct a follow-on RCT IDE study. The common thread is that we are committed to generating high-quality data to expand indications and reach more patients over time. We are well aware of the broader environment for our industry right now, what I would emphasize is that AngioDynamics is built to be a consistent performer through it. We see real demand for the procedures our platforms enable. We are positioned in markets that are growing, we have a clean, debt-free balance sheet that gives us the flexibility to keep investing. We intend to do all of it the way that we did this year, investing for tomorrow while delivering improved profitability today. If there's one thing FY 2026 demonstrated, it's that our business model can fund growth, absorb outside headwinds like tariffs, generate cash, still expand profitability. We fully expect to keep delivering on that balance in FY 2027 as we drive sustained profitable growth and create value for our shareholders. With that operator, let's open the line for questions. Operator: Thank you. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please while we poll for questions. Thank you. Our first question comes from the line of John Young with Canaccord Genuity. Please proceed with your question. John Young: Hey, Jim and Steve, thanks for taking the question, and congratulations on the strong end to the fiscal year. Just a couple from me, maybe first on NanoKnife, if I can. Palmetto, the LCD going live as of January 5th, what change in urology adoption or account additions have you seen so far? What's the timeline to any expected benefit from this? Maybe you could walk us through what the regional coverage to broader national coverage pathway looks like. Steve Trowbridge: Yeah, thanks John. This is Steve. Appreciate the question. We were very excited about receiving that information from Palmetto. That's an important decision for us, and it was a lot of work that our team put in to getting to that spot. As we said, going back to the time that we announced the CPT code going effective, we didn't expect that was going to be, by itself, a hockey stick that would drive business going forward. What we've seen since that CPT code went into effect in January of this year is consistent good anecdotes around adoption for the technology and seeing that payers are covering that code. Palmetto is a very important piece of that and making sure that we got now the first positive LCD out there is going to be an important element for us to grow on and continue to drive adoption. I would say that what you've seen in our results are the early stages of good indications coming from those types of decisions. It's not the full amount yet, and there's still work to do. We're going to have to follow the same playbook. We're going to talk to the other MACs and to the other regional decision makers to make sure that we're finishing the work to get consistent reimbursement across the country, but we like what we're seeing so far. John Young: Got it. Thanks. On RELIEF BPH, how large is the BPH opportunity for NanoKnife relative to prostate cancer, what's the timeline to first data? Jim Clemmer: John, we're being cautious here in trying to understand how large this market can be. The feedback we've received from a lot of the physicians who've used Nano to treat tumors is when they do the patient follow-ups, they're saying, "Hey, by the way, the follow-up was terrific on the tumor, but you cured his BPH." We're hearing these anecdotes in the field, it really inspired us to do this. As you know, John, the BPH market dwarfs the prostate market. We're being careful. That's why we launched this study. We think it's really important for us to learn more with the physicians, learn what we can do, and we'll be really transparent with you once we learn from this study. There's a lot of interest in the product, a lot of interest in this space, looking for really a good BPH opportunity for a company to solve. We haven't yet sized the market or talked about that beyond this yet. John Young: Got it. Just one more quickly from me, just on the [Inaudible], if I can bounce back to me. What are you seeing that led to the quarter-over-quarter declines in the business? Is this a slowdown in usage in active accounts, or is this a less than expected new account openings in the quarter? Just any additional color there would be helpful. Thank you again. Jim Clemmer: Thank you, John. It's Jim again. We saw a lot this past year. Again, we're pleased that AlphaVac grew 44% over prior. We wanted to do a little bit more. We had goals to do a bit more. We told you guys AngioVac for the year would've been single digits. It was. We still wanted to do a bit more there. The market is terrific. It's very competitive. We're still all working together with our peer companies and competitors to get more adoption, more physicians coming over to use mechanical interventions as a standard of care. We all want to grow the TAM that we compete in. We've also looked internally. We can't control all the external factors. We have a great product. You've seen the data. We get feedback every day on how intuitive it is to use, how safe and effective it is in the field, and how we're getting more and more adoption every day. What we can control is our ability to take as much share as we can, as fast as we can in this growing market. Even there, we've made some changes. In Q4, we changed our commercial approach, put a couple new people in place, new leadership structure, and did a lot of work on training our sales force to be effective as fast as we can. We've got new people joining us that come with experience as well. John, keep an eye on the next couple of quarters coming out. We've got a great product in a great marketplace, and we expect this to be a growth driver for a long time to come. John Young: Thanks, Jim and Steve. Jim Clemmer: Thanks, John. Steve Trowbridge: Thanks. See you soon. Operator: Thank you. As a reminder, if you'd like to join the question queue, please press star one on your telephone keypad. Our next question comes from the line of Frank Takkinen with Lake Street Capital Markets. Please proceed with your question. Frank Takkinen: Great. Good morning, Jim and Steve. Thank you for taking the questions. I was hoping to start with one on the guidance. Maybe if you could point us directionally in the cadencing of revenues. I think historically we've seen August step down quarter-over-quarter and then growth really throughout the year from that point, with sometimes the third quarter being down a little bit from the second quarter. Any context on the cadencing would be helpful, and then if you could also overlay the cadencing of cash generation and cash generation expectations for the year, that'd be great. Thank you. Steve Trowbridge: Hi, Frank. Thanks for the question. We don't guide specifically quarterly, the seasonality that you talked about, I think, is the right way to think about the business going forward. We typically see Q4 being our highest quarter in terms of both revenue and cash generation. Q1 is usually a step down from the previous Q4 in revenue. It's certainly also our highest use of cash quarter. That's typical for most businesses, where Q1 is going to be the highest utilization of cash. We're no different. Expect that we'll have some cash usage here in Q1, with Q2 and Q3 being a sequential step up from where you saw Q1. Sometimes Q3, given our structure, is down from Q2. It's usually a little bit less pronounced. Q4, of course, is going to be the highest generation quarter in terms of both revenue as well as cash. I would expect that to continue. Now, some of the quarterly trends that you've seen in the middle of the year with Q2 and Q3, I expect those to continue to mitigate a little bit given the fact that we're in growth mode and that you've got our Med tech products that are continuing to grow. You may see some mitigation of some of that lumpiness within the year. Overall, I would expect that you're going to see the same cadence that we've seen last year and the year before, just based on some of the structural constructs of our fiscal year. Frank Takkinen: That's helpful. Wanted to ask one specific on NanoKnife. Heard the comments around capital can be lumpy, but they expect disposables to continue to trend positively. Should we read that as the $8.4 million in disposable revenue in NanoKnife being kind of a baseline level of Disposable revenue to grow off of? Would the seasonality impact that number, too? Steve Trowbridge: Yeah. A little bit of both. I do think what you're seeing here is if you look at our results in NanoKnife Disposables, you're seeing that increase in the adoption by urologists. You're seeing a little bit of a step up in terms of how we expect nanoprobes to continue to progress through the quarter. You may still see some of that seasonality with Q4 being our strongest quarter, Q1 being a little bit of a step down and following that same pattern that we just talked about. I definitely expect that you're going to see nanoprobes coming from a little bit of a higher baseline than they had before because of all the really exciting growth that we've seen and the adoption from the urologists. Frank Takkinen: Helpful. Just last one for me. Jim, wanted to follow up on one of your previous answers on the Mechanical Thrombectomy business. You hinted towards some commercial changes that were made, new leadership structure, and some new people coming in. Can you maybe go a little bit deeper into that? Maybe how many new reps have you hired, and what kind of commercial changes are you referring to? Jim Clemmer: Yeah. We took a look at how we were performing in the field, watching the competitors in the market. Remember, there's really three factors we look at every day. One is the actual market, at people transitioning how they're delivering care to PE patients, going from lytic-based therapies as the standard of care over to mechanical intervention. We're watching that market shift. We're helping that market shift with the use of AlphaVac. Second, look at our competitors. The competitors, we've got two really good big ones that everyone knows about, and a bunch of small guys trying to get in the space. It's an active space. We're doing really well there. When someone tries our product, uses it a few times, the feedback is terrific on how intuitive it is, how safe and effective it is. We pull more clot burden out than anybody. The APEX study showed that. Finally, Frank, you look at the thing that we most care about, what we can control, which is our ability to be the best we can every day in the field with our clinical teams, our selling and marketing teams. We thought we could do a little better there. Just as we learn the messaging that we can do, train our teams, and effect change in the field. We changed a little bit of the structure we have internally. We've added more people. We're excited every time we seem to have a sales opening. We've got people now with experience that know the marketplace, have sold products like these for other companies and want to come join us. Salespeople are really smart and they want to sell products they can make the most money on, have the most fun, and work for a company with a great culture. We seem to offer that. Got a lot of people joining us. We'll watch you during the course of the year, Frank. Be really transparent. The product is solid. We've got a great team now. We changed that structure, added to it, strengthened it to make sure we can continue to take share above market. Frank Takkinen: Got it. That is helpful. Thank you for taking the questions. Operator: Thank you. Our next question comes from the line of Yi Chen with H.C. Wainwright. Please proceed with your question. Speaker 5: Hey, good morning. This is Katie on for Yi. I'm still stuck on the Mechanical Thrombectomy. With the lumpy growth, how would you characterize the competitive intensity from Boston Scientific in thrombectomies and Medtronic in atherectomies? Are you really starting to see any of that pricing pressure show up? Jim Clemmer: Hi, good morning. In neither of the two categories you mentioned, our two cardiovascular categories, we don't hear a lot of pricing pressure. You go back to the question you mentioned on thrombectomy. You now have Boston and Penumbra going to market differently than it was in the past. You've got Inari and Stryker going to market differently. Our product competes really well with both of those. Those are great products and great companies behind them, but our product is really good. Pricing has not been an issue in the marketplace, probably for any of the three of our companies, based on what we do and the value we provide for the patient and the caregiver. Removing clot quickly and safely and effectively. We really take cost out of the system. Keep people out of the ICU, extended stays, a lot of drug therapies. Each of us in the space take a lot of cost out of the system for providers. Switching over to the PAD side, we're just taking share in that space way above market rates for two reasons. We've got the best product. Auryon now has been proven in the field. It's been used over 200,000 times in the last five years, and it's really safe and effective what we do there. We're taking share because the product is the best product in the market. It works above and below the knee, and about 10% of the procedures we do is for in-stent restenosis, and that a lot of the other products in the market cannot do. Finally, we've got a great selling and clinical team that supports our customers. We're winning new customers all the time, and each of the customers we have seem to do more and more procedures with Auryon as they trust the device. We've got a great cardiovascular business. We'll continue to hone our game and make sure we're the best we can be. We'll be transparent with you during the course of the year in both of these avenues. Speaker 5: Perfect. Thank you guys so much. Jim Clemmer: Thank you. Operator: Thank you. Our final question this morning comes from the line of [Arlen Kamakazi] with Freedom Broker. Please proceed with your question. Speaker 6: Hi. Thanks for taking the questions, and congrats on the strong finish of the year. I actually want to start with NanoKnife. Now that Medicare coverage is in effect, what are you guys actually seeing on the ground? Has the conversation with physicians and hospitals started to shift, for example, from proving the clinical case to more practical things like logistics and capacity? Jim Clemmer: Yeah. Hi, thank you. Really good question. It's funny, we spent the day yesterday, we're spending the day today with our commercial team. The NanoKnife commercial team is giving us a lot of feedback on what they're seeing and hearing in the field. It really starts first with the clinical conversation. What the product does is so unique, the way the NanoKnife directs energy to treat that tumor. The clinical conversation is what we hear from our field team is the most active conversation. A lot of urologists have been looking for years at a good focal option to keep the gland intact, but to treat it. NanoKnife is giving them that great focal option. The PRESERVE study shows that. We're excited at first urologists are asking how they can learn about Nano, try Nano and treat their patients. Second, the economic story, what you just mentioned, getting the coverage that we want, not just with Medicare, but now with privates coming on, getting the LCD from Palmetto is really important. It shows again how safe and effective the device is, and it can pass those economic tests as well. Patients can get treated, and doctors and hospitals can get paid. We're excited first clinically, and then second, back to your question. We'll watch over the course of the year as we get more and more of the reimbursement hurdle out of the way. The field team's excited because they're getting so much interaction with urologists who want to come on, and if we can make sure we get the reimbursement hurdle cleared, we're really excited about the future. Good question. Speaker 6: Thank you so much. My last question is about the guidance. We can see that the adjusted EBITDA range implies that you're investing most of the gross profit back into the business, even with the mix continuing to shift toward higher margin med tech. I can see that a lot of that is clinical pipeline because you have APEX, AMBITION, and many more. Can you help us think about how that clinical spend phases over the next couple of years? Whether fiscal 2027 is the peak investment year, and at what point the model starts to show in the operating leverage? Steve Trowbridge: Great question. Appreciate that. What we've historically said is that we're targeting about 10% of sales as our R&D spend going forward in the year. The clinical spend is within that 10%, so I wouldn't expect that you're going to see a significantly higher investment year in 2027, particularly when it comes to R&D and clinical spend above and beyond what we've guided to, which is that expecting about 10% going forward. The question around growth and how it drops to the bottom line, it's a constant balancing act for us. We are in investment mode. We're continuing to invest in our business. It's very important for us to continue to invest in all three of the growth drivers within med tech to continue to grow at the above market rates that we've been growing at. We're balancing that with dropping some profit to the bottom line to prove that we can do both. You saw that this year with the EBITDA contribution that we gave at the end of the fiscal year. Then we're targeting growing about 20% from that elevated baseline from 2026 into 2027 while we're continuing to invest back in the business in terms of clinical trials, new product line introductions that Jim talked about, continuing to invest in our sales force and the feet on the street to drive those med tech products going forward. Expect that balance to continue. Expect us to do both. Invest in our businesses, drive above market growth, as well as we continue to drop profit to the bottom line at a healthy pace. It's going to be a balance of both of those things going forward. Add to that the fact that we're proving that our business model can generate cash while we make those balancing decisions. Very good in terms of generating cash flow from operations last year. We're going to have positive cash flow going into 2027 as well. Speaker 6: Perfect. Very helpful. Thanks again. Operator: Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I'll turn the floor back to Mr. Clemmer for final comments. Jim Clemmer: Thank you for joining us today. I think today you can see the validation of the strategy we put in place years ago to change AngioDynamics, to transform the company from what was a slow growth company in slow growth markets that were small. Today, our company competes in larger markets that are faster growing, where technology and innovation matter, and patient outcomes can be measured, and we can show improvement on patient wellness. AngioDynamics is part of that shift. We have the team in place, the people who've joined our company. Now, how to do what we've just said, how to deliver that message to our customers. We've got the products and the innovation in these markets to change and win. These are really exciting markets for us. This company has a good balance today with our medical device products that provide us with the cash and stability to fund our medical technology investments going forward. My message to investors is keep an eye on our company. We think we've got a great balance of being in the right place at the right time with great products. We'll continue to show we can grow above market rates in these markets, and we'll drop profitability down through the company each year that goes by. We continue to grow above those rates and drop profit that enables us to be strong, keep the debt-free balance sheet in place, and use our cash and capital to continue to invest in our company going forward. We couldn't do this without our great team of people. Thank you to each of our employees who make it all work. Thanks to the investors for joining us today. We'll see you soon. Operator: Thank you. This concludes today's conference call. 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AngioDynamics, Inc. ANGO reported an adjusted loss per share of 7 cents for fourth-quarter fiscal 2026, wider than the year-ago quarter’s adjusted loss of 3 cents but narrower than the Zacks Consensus Estimate of a loss of 11 cents. On a pro-forma basis (excluding the divested Dialysis and BioSentry businesses, the divested PICC and Midline product portfolios and the discontinued Radiofrequency and Syntrax products), adjusted loss per share for fourth-quarter fiscal 2025 was also 7 cents, wider than the 5 cents reported in the year-ago quarter. On a pro-forma basis, the fiscal fourth-quarter GAAP loss per share was 27 cents, wider than the year-ago period’s 15 cents. Full-year fiscal 2026 adjusted loss per share was 15 cents, flat compared to the figure at the end of the fiscal 2025 period. The figure came narrower than the Zacks Consensus Estimate of a loss of 23 cents per share. On a pro-forma basis, full-year fiscal 2026 adjusted loss per share was 24 cents, narrower than 25 cents at the end of the comparable fiscal 2025 period. Revenues in the fiscal fourth quarter totaled $86.6 million, up 8% year over year both on a reported and pro forma basis. The top line beat the Zacks Consensus Estimate by 7.6%. The company continued to see strong contributions from its Med Tech (which includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform) and Med Device businesses during the quarter. Full-year fiscal 2026 revenues were $320.2 million, up 9.5% on a reported basis and up 9.4% on a pro forma basis from the comparable fiscal 2025 period. The figure topped the Zacks Consensus Estimate by 1.9%. Shares of this company traded flat during yesterday’s after-hours trading. In the quarter under review, U.S. net revenues totaled $73.6 million, up 9.1% year over year both on a reported and pro forma basis. This figure compares to our U.S. net revenues’ fiscal fourth-quarter projection of $69 million. International revenues came in at $13 million, up 2.7% from the year-ago quarter, both on a reported and pro forma basis. This figure compares to our fiscal fourth-quarter International revenues’ projection of $11.5 million. AngioDynamics derives revenues from two businesses — Med Tech and Med Device. Med Tech The Med Tech business’ net sales in the fiscal fourth quarter were $41.8 million, reflecting an uptick of 16.7% year over year, both on a reported and pro forma basis. This figure compares to our fiscal fourth-quarter Med Tech business’ net sales projection of $38.2 million. The rise was primarily on the back of increased net sales of Auryon, amounting to $17.8 million (up 14.4% year over year), Mechanical Thrombectomy revenues (which include AngioVac and AlphaVac) of $11.1 million (down 1.1% year over year) and NanoKnife sales of $11.8 million (up 64.5% year over year). In the quarter, AngioVac revenues were $6.9 million (down 15.8% year over year) and AlphaVac revenues were $4.2 million (up 38.4% year over year). Total NanoKnife revenues included 47% growth in probes and 132.5% growth in capital sales. Med Device Med Device’s revenues in the fiscal fourth quarter grossed $44.8 million, up 1.1% from the year-ago period. This figure compares to our fiscal fourth-quarter Med Device business’ net sales projection of $42.3 million. AngioDynamics, Inc. price-consensus-eps-surprise-chart | AngioDynamics, Inc. Quote In the quarter under review, AngioDynamics’ pro forma gross profit rose 10.8% to $46.8 million. The pro forma gross margin expanded 130 basis points to 54%. We had projected a pro forma gross margin of 52.3% for fourth-quarter fiscal 2025. Sales and marketing expenses on a pro forma basis increased 17.7% to $31.1 million year over year. Research and development expenses on a pro forma basis increased 24.1% year over year to $8.2 million, whereas general and administrative expenses on a pro forma basis increased 0.3% to $10.3 million. On a pro forma basis, adjusted operating expenses of $56.9 million increased 18.7% year over year. Total operating loss on a pro forma basis totaled $10.2 million compared with the prior-year quarter’s loss of $5.8 million. AngioDynamics exited fiscal 2026 with cash and cash equivalents of $53.9 million compared with $37.8 million at the fiscalthird-quarter end. The company ended the quarter with no debt on its balance sheet. Cumulative net cash provided by operating activities at the end of fiscal 2026 was $3.1 million, against the cumulative net cash used in operating activities of $10.1 million a year ago. AngioDynamics has initiated its guidance for fiscal 2027. The company expects its net sales to be in the range of $336 million-$341 million, representing growth of 5-6.5% from the comparable fiscal 2026 period. The Zacks Consensus Estimate is currently pegged at $325.1 million. AngioDynamics expects its Med Tech revenue growth to be in the range of 12-15%, while Med Device revenue growth is projected to be flat over the comparable fiscal 2026 period. Management expects the impact from tariffs to be broadly similar to fiscal 2026. The adjusted loss per share is projected to be between 29 cents and 24 cents. The Zacks Consensus Estimate is currently pegged at a loss of 13 cents per share. AngioDynamics exited the fourth quarter of fiscal 2026 with narrower-than-expected adjusted loss per share and better-than-expected revenues. The uptick in overall revenues and geographical revenues, both on a reported and pro forma basis, looked promising. The robust performance of both segments was also impressive. Robust Auryon, AlphaVac and NanoKnife sales were also recorded during the quarter. The pro-forma gross margin expansion bodes well for the stock. During fiscal 2026, AngioDynamics achieved several clinical and reimbursement milestones that could strengthen the long-term growth prospects of its Med Tech portfolio. NanoKnife appears particularly well positioned following durable two-year PRESERVE data, which reinforced its efficacy and safety in intermediate-risk prostate cancer while preserving patients' quality of life. The activation of Category I CPT codes and Medicare coverage guidance further improves the reimbursement landscape, supporting broader physician adoption over time. The FDA's IDE approval for the RELIEF study also marks an important step toward expanding NanoKnife into benign prostatic hyperplasia (BPH), one of the largest men's health markets. Beyond NanoKnife, FDA approvals for the APEX-Return and PAVE studies enhance the growth prospects of the Mechanical Thrombectomy portfolio by evaluating new applications for the AlphaReturn Blood Management System and AngioVac. Ongoing enrollment in the AMBITION BTK and RECOVER-AV trials further highlights the company's focus on generating clinical evidence to expand indications and addressable markets, creating multiple long-term growth opportunities beyond its current commercial portfolio. This raises optimism about the stock. ANGO currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are West Pharmaceutical WST, Intuitive Surgical ISRG and Cardinal Health CAH, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. West Pharmaceutical reported first-quarter 2026 earnings per share of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%. West Pharmaceutical has an estimated long-term earnings growth rate of 13.9%. WST’s earnings surpassed estimates in the trailing four quarters, the average surprise being 19.4%. Intuitive Surgical reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%. Intuitive Surgical has an estimated long-term earnings growth rate of 14.3%. ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%. Cardinal Health reported a third-quarter fiscal 2026 adjusted EPS of $3.17, which beat the Zacks Consensus Estimate by 13.2%. Revenues of $60.94 billion missed the Zacks Consensus Estimate by 2.3%. Cardinal Health has an estimated long-term earnings growth rate of 17%. CAH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 10.3%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report Intuitive Surgical, Inc. (ISRG) : Free Stock Analysis Report Cardinal Health, Inc. (CAH) : Free Stock Analysis Report West Pharmaceutical Services, Inc. (WST) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Delivered its seventh consecutive quarter of double-digit Med Tech segment growth and positive adjusted EBITDA LATHAM, N.Y., July 14, 2026--(BUSINESS WIRE)--AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options, and improving quality of life for patients, today announced financial results for the fourth quarter and fiscal year 2026, which ended May 31, 2026. GAAP gross margin of 54.0% GAAP loss per share of $0.27 Adjusted loss per share of $0.07 Adjusted EBITDA of $3.3 million GAAP gross margin of 54.6% GAAP loss per share of $0.88 Adjusted loss per share of $0.24 Adjusted EBITDA of $13.2 million Ended fiscal year 2026 with $53.9 million in cash *Pro forma results exclude the Dialysis and BioSentry businesses divested in June 2023 and the PICC and Midline product portfolios divested in February 2024, as well as the discontinued RadioFrequency and Syntrax products in February 2024. Clinical, Regulatory, and Market Access Highlights During the fiscal year: Received FDA IDE approval for APEX-Return study evaluating AlphaReturn Blood Management System when used with AlphaVac F1885 System Received FDA IDE approval for PAVE clinical study evaluating AngioVac System for treatment of right-sided infective endocarditis Initiated both the AMBITION BTK and RECOVER-AV trials During the fourth quarter: Two-year follow up data from its PRESERVE pivotal trial presented at the American Urological Association conference in 2026 demonstrating NanoKnife’s durable prostate cancer outcomes Palmetto GBA (Government Benefits Administrators) finalized a local coverage determination covering NanoKnife IRE for qualifying Medicare patients in prostate and liver cancer, effective July 5, 2026 Subsequent to fiscal year end: Received FDA IDE (Investigational Device Exemption) approval for the RELIEF study evaluating NanoKnife IRE for the treatment of benign prostatic hyperplasia "Our strong fourth quarter capped a year of consistent execution at AngioDynamics," said Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. "Full-year Med Tech growth of more than 18% reflects the continued progress of our strategic transformation, as our innovative platform technologies across cardiology and interventional oncology took share in large, fast-growing global markets. Combined with our operational discipline, that growth drove continued profitability even as we absorbed tariff-related headwinds." "We advanced our portfolio on multiple fronts during the year. We generated compelling two-year PRESERVE clinical data and secured a critical Medicare coverage pathway for NanoKnife in prostate and liver, while achieving key regulatory milestones across our Mechanical Thrombectomy portfolio, including IDE approvals for our AlphaVac blood return and AngioVac right-sided endocarditis studies. Auryon delivered its 20th consecutive quarter of double-digit growth, and NanoKnife adoption accelerated following the effective date of the Category I CPT code for prostate." Mr. Clemmer continued, "As we look ahead to fiscal 2027, we remain focused on driving sustained growth led by our Med Tech segment. Med Tech represented 47% of our total revenue in fiscal 2026, up approximately 22% from when we began our strategic transformation in 2020. We expect that mix to continue shifting toward our higher-growth, higher-margin platforms. With a differentiated technology portfolio, multiple growth catalysts ahead, and a debt-free balance sheet with positive cash generation, we are well-positioned to deliver continued value creation in fiscal 2027 and beyond." Fiscal Fourth Quarter 2026 Financial Results Unless otherwise noted, all financial comparisons below are presented on a pro forma basis excluding the Dialysis and BioSentry businesses divested in June 2023, the PICC, Midline, and tip location product portfolios divested in February 2024, and the RadioFrequency and Syntrax support catheter products discontinued in February 2024. Net sales for the fourth quarter of fiscal year 2026 were $86.6 million, an increase of 8.0% compared to the prior-year quarter. Med Tech net sales were $41.8 million, a 16.7% increase from $35.8 million in the prior-year period. Med Tech includes the Auryon peripheral atherectomy platform, our thrombus management platform which is led by AlphaVac and AngioVac, and the NanoKnife irreversible electroporation platform. Growth during the quarter was driven by solid performance across the Med Tech segment. Auryon sales were $17.8 million, an increase of 14.4% compared to the prior-year quarter. In our Mechanical Thrombectomy business, AlphaVac sales grew 38.4% compared to the prior year quarter, while AngioVac faced a tough comparison, declining 15.8% versus prior year. Overall, Mechanical Thrombectomy delivered sales of $11.1 million, a decrease of 1.1% compared to the prior-year quarter. NanoKnife sales were $11.8 million, an increase of 64.5% compared to the prior-year quarter, including 47.0% growth in probes and 132.5% growth in capital sales. Med Device net sales were $44.8 million, a 1.1% increase compared to $44.4 million in the prior-year period. Gross margin for the fourth quarter of fiscal 2026 was 54.0%, which was 130 basis points higher compared to the fourth quarter of fiscal 2025, primarily driven by favorable pricing and the ongoing revenue mix shift toward Med Tech, partially offset by the manufacturing transition and global inflation all of which were in-line with the Company's expectations. The Company recorded a GAAP net loss of $11.4 million, or a loss per share of $0.27, in the fourth quarter of fiscal 2026, compared to a net loss of $6.1 million, or a loss per share of $0.15, a year ago. Excluding the items shown in the non-GAAP reconciliation table below, adjusted net loss for the fourth quarter of fiscal 2026 was $2.8 million, or a loss per share of $0.07. This compares to an adjusted net loss during the fiscal fourth quarter of 2025 of $1.1 million, or a loss per share of $0.03. Adjusted EBITDA in the fourth quarter of fiscal 2026, excluding the items shown in the non-GAAP reconciliation table below, was $3.3 million, compared to $3.4 million in the fourth quarter of fiscal 2025. Tariff-related expenses were $0.5 million during the quarter, compared to $1.6 million for the prior year quarter, in-line with the Company's expectations. In the fourth quarter of fiscal 2026, the Company generated $17.5 million of cash from operations, slightly ahead of the Company's expectations. Full-Year 2026 Financial Results Unless otherwise noted, all financial comparisons below are presented on a pro forma basis excluding the Dialysis and BioSentry businesses divested in June 2023, the PICC, Midline, and tip location product portfolios divested in February 2024, and the RadioFrequency and Syntrax support catheter products discontinued in February 2024. Net sales were $320.2 million, an increase of 9.4%, compared to $292.7 million for the prior year period. Med Tech net sales were $150.0 million, an 18.4% increase from $126.7 million in the prior year. Med Device net sales were $170.2 million, an increase of 2.5% from $166.0 million in the prior year. Gross margin increased 70 basis points to 54.6% from 53.9% in the prior year, with tariffs creating a 151-basis point headwind. The Company's GAAP net loss was $36.7 million, or a loss per share of $0.88, compared to a net loss of $34.0 million, or a loss per share of $0.83, a year ago. Excluding the items shown in the non-GAAP reconciliation table below, adjusted net loss was $10.0 million, with adjusted loss per share of $0.24, compared to adjusted net loss of $10.2 million, or adjusted loss per share of $0.25, a year ago. Adjusted EBITDA, excluding the items shown in the reconciliation table below, was $13.2 million, compared to $7.6 million for the prior year. Tariff-related expenses were $4.8 million during the year, compared to $1.6 million for the prior year, in-line with the Company's expectations. In the full year of fiscal 2026, the Company generated $3.1 million of cash from operations, slightly ahead of the Company's stated expectations following Q3. At May 31, 2026, the Company had $53.9 million in cash and maintains a debt-free balance sheet. FDA IDE Approval for RELIEF BPH Study Subsequent to fiscal year-end, the Company received FDA approval of its IDE for the RELIEF study, a feasibility trial evaluating NanoKnife IRE for the treatment of benign prostatic hyperplasia. The study is designed to enroll 40 subjects at up to five U.S. clinical sites, with a primary endpoint measuring change in the International Prostate Symptom Score at six months. RELIEF extends the NanoKnife IRE platform beyond oncology into one of the most common conditions affecting men's health. The Company views the study as an important step in expanding the long-term addressable market for its IRE technology. Two-Year PRESERVE Data Demonstrates Durable Prostate Cancer Outcomes In May 2026, the Company presented two-year results from its PRESERVE pivotal trial at the American Urological Association Annual Meeting, demonstrating durable outcomes for the NanoKnife System in the focal ablation of intermediate-risk prostate cancer. PRESERVE is a prospective, single-arm pivotal IDE study that enrolled 121 patients across 17 U.S. clinical sites in collaboration with the Society of Urologic Oncology Clinical Trials Consortium. At 24 months, no new treatment failures were identified among patients with available follow-up, and 97% of patients had a PSA below their baseline value, with no new device- or procedure-related adverse events reported between the 12- and 24-month assessments. These results build on the trial's previously published 12-month primary endpoint and reinforce the durability of focal IRE as a treatment option that preserves quality of life. Category I CPT Codes and Medicare Coverage Advance NanoKnife Reimbursement The Company continued to advance the reimbursement framework for irreversible electroporation (IRE) delivered by the NanoKnife System. Effective January 1, 2026, Category I CPT codes for IRE procedures in the prostate and liver became active, reflecting the American Medical Association's formal recognition of the procedure and supporting standardized billing across hospital outpatient and ambulatory surgical center settings. Building on this, in May 2026 Palmetto GBA issued a final Local Coverage Determination establishing Medicare coverage guidance for IRE in favorable intermediate-risk prostate cancer and metastatic colorectal cancer to the liver, effective July 5, 2026. Together, these milestones enable eligible patients and treating physicians to access reimbursement under Medicare and mark an important step toward broader national payer adoption. FDA IDE Approval for APEX-Return Study During the fiscal year, the Company announced that the FDA approved its IDE application for its APEX-Return study. The pivotal study will evaluate the safety and effectiveness of the AlphaReturn Blood Management System when used with the AlphaVac F1885 Multipurpose Mechanical Aspiration (MMA) System in the treatment of acute pulmonary embolism (PE). The APEX-Return study will enroll up to 40 patients across multiple sites and will assess key safety and effectiveness endpoints, including device-related adverse events and procedural outcomes. The AlphaReturn Blood Management System addresses market feedback by enabling the collection, filtration and reinfusion of aspirated blood during thrombectomy procedures, which may reduce the need for blood transfusions. FDA IDE Approval for PAVE Clinical Study During the fiscal year, the Company announced that the FDA approved its IDE application for the PAVE clinical study. The PAVE (Percutaneous AngioVac Vegetation Extraction) pilot trial will evaluate the Company's AngioVac System for the percutaneous removal of vegetation from the right heart in patients with right-sided infective endocarditis (RSIE). The study is intended to assess whether a minimally invasive approach using the AngioVac System may provide an alternative option for this underserved patient population who have limited treatment options, particularly when surgical risk is high. The PAVE study is a prospective, single-arm, multicenter feasibility trial that will enroll up to 30 patients with RSIE at up to six U.S. centers. In August 2023, the AngioVac System received an FDA Breakthrough Device designation for the removal of right heart vegetation. Advancing Clinical Evidence Across the Portfolio During the fiscal year, the Company initiated patient enrollment in two key clinical trials. The AMBITION BTK trial evaluates the Auryon Atherectomy System in critical limb ischemia patients with challenging below-the-knee blockages. The RECOVER-AV trial assesses the AlphaVac F1885 System for intermediate-risk pulmonary embolism. Together, these trials reflect the Company's commitment to generating high-quality clinical evidence to drive adoption and expand addressable markets across its vascular portfolio. Tariff Related Guidance Assumptions For fiscal 2027, the Company expects a tariff impact broadly similar to fiscal 2026, based on its current view of the tariff situation, which remains dynamic and subject to change. Conference Call The Company’s management will host a conference call at 8:00 am ET on the date of this announcement to discuss the results. To participate in the conference call, dial 1-877-407-0784 (domestic) or +1-201-689-8560 (international). This conference call will also be webcast and can be accessed from the "Investors" section of the AngioDynamics website at www.angiodynamics.com. The webcast replay of the call will be available at the same site approximately one hour after the end of the call. Use of Non-GAAP Measures Management uses non-GAAP measures to establish operational goals and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics' business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news release, AngioDynamics has reported pro forma results, adjusted EBITDA, adjusted net income and adjusted earnings per share. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide investors with useful information in comparing AngioDynamics' performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics' underlying business. Management encourages investors to review AngioDynamics' financial results prepared in accordance with GAAP to understand AngioDynamics' performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics' financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP. About AngioDynamics, Inc. AngioDynamics is a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options and improving quality of life for patients. The Company’s innovative technologies and devices are chosen by talented physicians in fast-growing healthcare markets to treat unmet patient needs. For more information, visit www.angiodynamics.com. Safe Harbor This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "projects," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ materially from AngioDynamics' expectations, expressed or implied. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the scale and scope of the COVID-19 global pandemic, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics' technology or assertions that AngioDynamics' technology infringes the technology of third parties, the ability of AngioDynamics to effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions (including inflation, tariffs, labor shortages and supply chain challenges including the cost and availability of raw materials), the results of on-going litigation, challenges with respect to third-party distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to obtain regulatory clearances or approval of its products, or to integrate acquired businesses, as well as the risk factors listed from time to time in AngioDynamics' SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2026. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason. View source version on businesswire.com: https://www.businesswire.com/news/home/20260714974221/en/ Contacts Investors:Stephen TrowbridgeExecutive Vice President & [email protected] Media:Saleem CheeksVice President, [email protected]

AngioDynamics Inc. (NASDAQ:ANGO) delivered stronger-than-expected fourth-quarter results on Tuesday, beating Wall Street forecasts for both revenue and adjusted earnings while issuing an upbeat sales outlook for fiscal 2027. The medical technology company’s shares rose 1.33% in premarket trading following the earnings release. For the quarter ended 31 May 2026, AngioDynamics reported an adjusted loss of $0.07 per share, outperforming analysts’ expectations of a $0.09 per-share loss. Revenue increased 8.0% year-over-year to $86.6 million, comfortably ahead of the consensus forecast of $80.2 million. Growth was led by the company’s Med Tech division, where revenue climbed 16.7% to $41.8 million, extending its streak of double-digit growth to seven consecutive quarters. Looking ahead, AngioDynamics forecast adjusted earnings per share of between a loss of $0.29 and $0.24 for fiscal 2027. While the midpoint of this range falls below the analyst consensus estimate of a $0.20 loss per share, the company’s revenue guidance was considerably stronger than expected. Management projected fiscal 2027 revenue of between $336 million and $341 million, well above the consensus forecast of $314 million. The midpoint of $338.5 million exceeded market expectations by approximately $24.5 million. “Full-year Med Tech growth of more than 18% reflects the continued progress of our strategic transformation, as our innovative platform technologies across cardiology and interventional oncology took share in large, fast-growing global markets,” said Jim Clemmer, President and Chief Executive Officer. For the full 2026 fiscal year, AngioDynamics reported net sales of $320.2 million, representing annual growth of 9.4%. Adjusted EBITDA improved significantly to $13.2 million from $7.6 million in the previous fiscal year, reflecting stronger operational performance. The company finished the year with $53.9 million in cash and no outstanding debt, providing financial flexibility to support future growth initiatives. AngioDynamics expects Med Tech revenue to grow between 12% and 15% during fiscal 2027, while sales in its Med Device business are projected to remain broadly unchanged. Management also forecasts gross margins of between 54% and 55%, alongside adjusted EBITDA in the range of $13.0 million to $16.0 million as it continues executing its transformation strategy. AngioDynamics stock price

This article first appeared on GuruFocus. Revenue: Increased 8% to $86.6 million for the fourth quarter; full-year revenue increased 9.4% to $320.2 million. MedTech Revenue: Fourth-quarter revenue was $41.8 million, a 16.7% increase; full-year revenue was $150 million, an 18.4% increase. Auryon Platform Revenue: Fourth-quarter revenue was $17.8 million, growing 14.4%; full-year revenue was $66.9 million, growing 17.7%. Mechanical Thrombectomy Revenue: Fourth-quarter revenue was $11.1 million, a decrease of 1.1%; full-year revenue was $45 million, a 13.4% increase. NanoKnife Revenue: Fourth-quarter revenue was $11.8 million, a 64.5% increase; full-year revenue was $33.1 million, a 35.2% increase. Gross Margin: Fourth-quarter gross margin was 54%, a 130-basis point increase; full-year gross margin was 54.6%, a 70-basis point increase. Operating Expenses: Fourth-quarter operating expenses were $57 million, representing 66% of sales; full-year operating expenses were $214.8 million, 67% of sales. Net Loss: Fourth-quarter GAAP net loss was $11.4 million; full-year GAAP net loss was $36.7 million. Adjusted EBITDA: Fourth-quarter adjusted EBITDA was $3.3 million; full-year adjusted EBITDA was $13.2 million. Cash from Operations: Fourth-quarter cash from operations was $17.5 million; full-year cash from operations was $3.1 million. Cash Position: Ended fiscal year 2026 with $53.9 million in cash. Warning! GuruFocus has detected 7 Warning Signs with ANGO. Is ANGO fairly valued? Test your thesis with our free DCF calculator. Release Date: July 14, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AngioDynamics Inc (NASDAQ:ANGO) reported a strong fourth quarter, with an 8% increase in revenue to $86.6 million, driven by growth across both MedTech and Med Device segments. The MedTech segment saw a significant 16.7% increase in revenue, with platforms like Auryon delivering double-digit year-over-year growth for 20 consecutive quarters. NanoKnife revenue increased by 64.5%, driven by record procedure volumes and strong demand in prostate care. The company maintained a strong, debt-free balance sheet with $53.9 million in cash, allowing for continued investment in growth initiatives. AngioDynamics Inc (NASDAQ:ANGO) is positioned in large, fast-growing markets, with a strategy focused on innovation and clinical data to drive adoption and expand market share. Despite revenue growth, AngioDynamics Inc (NASDAQ:ANGO) reported a net loss of $11.4 million for the fourth quarter, with an adjusted net loss of $2.8 million. Mechanical Thrombectomy revenue decreased by 1.1% year-over-year, with AngioVac sales declining by 15.8%, indicating challenges in this competitive market. The company faced tariff expenses of approximately $4.8 million for the full year, impacting overall profitability. Operating expenses increased to $57 million in the fourth quarter, representing 66% of sales, up from 60% in the previous year. The adjusted EBITDA for the fourth quarter was slightly down at $3.3 million compared to $3.4 million in the same quarter of the previous year. Q: With the Palmetto LCD going live, what changes in neurologist adoption or account transitions have you seen, and what's the timeline for any expected benefit? A: Stephen Trowbridge, CFO, stated that the Palmetto decision is significant and has led to consistent adoption anecdotes. While it's not a dramatic shift, it's a positive step towards broader adoption. The company is working on consistent reimbursement across the country and is optimistic about the early indications. Q: How large is the BPH opportunity for NanoKnife relative to prostate cancer, and what's the timeline for first data? A: James Clemmer, CEO, mentioned that the BPH market is significantly larger than the prostate market. The company is cautious and is conducting studies to understand the market size better. There is substantial interest in the product, but they have not yet quantified the market size. Q: What led to the quarter-over-quarter declines in the mechanical thrombectomy business? A: James Clemmer explained that while AlphaVac grew significantly, they aimed for more. The market is competitive, and the company is focusing on increasing adoption of mechanical interventions. Internal changes, including a new commercial approach and leadership structure, are expected to drive future growth. Q: Can you provide guidance on the revenue and cash generation cadence for the year? A: Stephen Trowbridge noted that Q4 is typically the highest for revenue and cash generation, with Q1 being a step down and the highest cash usage. Q2 and Q3 usually see sequential growth, with Q3 sometimes down from Q2. The company expects this pattern to continue, with some mitigation due to growth mode. Q: With Medicare coverage for NanoKnife, how have conversations with physicians and hospitals shifted? A: James Clemmer stated that the clinical conversation remains active, with urologists interested in NanoKnife for its focal treatment option. Economic considerations are also improving with Medicare and private coverage, and the company is optimistic about future growth as reimbursement hurdles are cleared. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in AngioDynamics, Inc.? Here are five stocks we like better. Revenue growth was led by med tech: AngioDynamics reported Q4 revenue up 8% to $86.6 million and full-year revenue up 9.4% to $320.2 million, with med tech sales rising 16.7% in the quarter and 18.4% for the year. Management said the company continued to gain share in cardiovascular and interventional oncology markets. NanoKnife and Auryon were standout products: NanoKnife revenue jumped 64.5% in Q4 and 35.2% for the year, while Auryon delivered 20 straight quarters of double-digit growth and reached $66.9 million in annual revenue. Mechanical thrombectomy was more mixed, with AlphaVac growth offset by declines in AngioVac. Profitability improved, but losses remained: Gross margin improved to 54% in Q4 and 54.6% for the year, and adjusted EBITDA rose to $13.2 million annually. Still, the company posted a wider GAAP net loss for both the quarter and full year, though it ended fiscal 2026 with $53.9 million in cash and no debt. AngioDynamics (NASDAQ:ANGO) reported higher fiscal fourth-quarter and full-year revenue, driven by continued growth in its med tech portfolio, while management said the company remains focused on balancing investment in clinical programs with profitability and cash generation. On the company’s fiscal 2026 fourth-quarter and full-year earnings call, President and Chief Executive Officer Jim Clemmer said AngioDynamics ended the year with “consistent execution across the business” and that full-year med tech growth of more than 18% reflected share gains in cardiovascular and interventional oncology markets. → The SK Hynix IPO and 2027’s AI Memory Squeeze “We are delivering above-market profitable growth consistently,” Clemmer said. “We are taking share in the markets we set out to win, and we are doing it while expanding profitability and proving that the business can generate positive cash flow.” Executive Vice President and Chief Financial Officer Steve Trowbridge said fourth-quarter revenue increased 8% to $86.6 million. Med tech revenue rose 16.7% to $41.8 million and represented 48% of total revenue, compared with 45% a year earlier. Med device revenue increased 1.1% to $44.8 million. → This Dividend ETF Choice Could Shape Your Income Strategy Through 2026 Within med tech, Auryon revenue was $17.8 million, up 14.4% from the prior year. Trowbridge said Auryon has now posted 20 consecutive quarters of double-digit year-over-year growth, supported by expanded use in hospitals, continued growth in office-based lab settings and international adoption following CE mark approval. Mechanical thrombectomy revenue, which includes AngioVac and AlphaVac, declined 1.1% to $11.1 million in the quarter. AlphaVac revenue increased 38.4% to $4.2 million, while AngioVac revenue fell 15.8% to $6.9 million. Trowbridge described the market as attractive but competitive and still early in its development, with patient care shifting from lytic-based therapies toward mechanical interventions. → Microsoft Bets on In-House AI to Cut OpenAI and Anthropic Costs NanoKnife was a standout in the quarter. Total NanoKnife revenue increased 64.5% to $11.8 million, with probe sales up 47% and capital sales up 132.5%. Trowbridge said probe sales were primarily driven by demand in prostate care and that the company reached record procedure volumes during the quarter. He cautioned, however, that capital sales can be “lumpy quarter-to-quarter” and said disposables remain the key indicator for the business. Gross margin in the fourth quarter was 54%, up 130 basis points from the prior-year period. Trowbridge said the improvement was driven mainly by the shift toward higher-margin med tech sales, partially offset by tariffs. Total operating expenses were $57 million, or 66% of sales, compared with $48 million, or 60% of sales, a year earlier. Research and development expense was $8.2 million, or 9% of sales, while SG&A expense was $41.4 million, or 48% of sales. On a GAAP basis, AngioDynamics reported a fourth-quarter net loss of $11.4 million, or $0.27 per share, compared with a net loss of $6.1 million, or $0.15 per share, a year earlier. Adjusted net loss was $2.8 million, or $0.07 per share, compared with an adjusted net loss of $1.1 million, or $0.03 per share. Adjusted EBITDA was $3.3 million, roughly in line with $3.4 million in the prior-year quarter. Trowbridge said tariff expense was about $500,000 in the fourth quarter, compared with $1.6 million in the prior-year quarter. For fiscal 2026, revenue increased 9.4% to $320.2 million. Med tech revenue rose 18.4% to $150 million, while med device revenue increased 2.5% to $170.2 million. Auryon full-year revenue increased 17.7% to $66.9 million. Mechanical thrombectomy revenue rose 13.4% to $45 million, including AlphaVac revenue of $15.5 million, up 44.1%, and AngioVac revenue of $29.5 million, up 2.1%. NanoKnife revenue increased 35.2% to $33.1 million, with disposables up 28.7% and capital sales up 61.8%. Full-year gross margin was 54.6%, up from 53.9% a year earlier. Trowbridge said tariffs had an approximately 150-basis-point negative impact on gross margin. Full-year tariff expense was about $4.8 million, compared with $1.6 million in the prior year, within the company’s previously stated $4 million to $6 million range. GAAP net loss for the year was $36.7 million, or $0.88 per share, compared with a net loss of $34 million, or $0.83 per share, in fiscal 2025. Adjusted net loss was $10 million, or $0.24 per share, compared with an adjusted net loss of $10.2 million, or $0.25 per share. Adjusted EBITDA improved to $13.2 million from $7.6 million. AngioDynamics generated $17.5 million of cash from operations in the fourth quarter and $3.1 million for the full year. The company ended fiscal 2026 with $53.9 million in cash and no debt. For fiscal 2027, AngioDynamics expects net sales of $336 million to $341 million, representing growth of 5% to 6.5% from fiscal 2026. The company expects med tech sales to grow 12% to 15%, while med device sales are expected to be roughly flat. Management guided for gross margin of 54% to 55%, adjusted EBITDA of $13 million to $16 million and adjusted loss per share of $0.29 to $0.24. Trowbridge said the company expects the impact from tariffs to be broadly similar to fiscal 2026, while noting that the tariff environment remains dynamic. Trowbridge said Auryon is expected to remain a mid-teens grower, mechanical thrombectomy should grow faster in fiscal 2027, and NanoKnife should continue to benefit from prostate momentum, with disposables as the primary driver. During the question-and-answer session, management addressed NanoKnife reimbursement following the category 1 CPT code for prostate and liver that became effective Jan. 1 and a Medicare coverage framework from Palmetto. Trowbridge said the company is seeing “consistent good anecdotes around adoption” and payer coverage, but said broader reimbursement work remains with other regional decision makers. Clemmer said clinical interest in NanoKnife among urologists remains central, while reimbursement progress helps remove barriers for hospitals and physicians. He also discussed the company’s RELIEF feasibility study in benign prostatic hyperplasia, saying the BPH market is large but that AngioDynamics is still studying the opportunity and has not sized the market. In mechanical thrombectomy, Clemmer said the company made commercial changes in the fourth quarter, including changes to leadership structure, sales training and additions to the team. He said pricing pressure has not been a major issue in thrombectomy or atherectomy. Clemmer also reiterated that he intends to retire after a decade with the company. He said the board is conducting a comprehensive search with an executive search firm and expects to identify the next CEO during the first half of fiscal 2027. Until then, Clemmer said he will continue leading the company alongside Trowbridge and is committed to a seamless transition. AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company's products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings. In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "AngioDynamics Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

AngioDynamics, Inc. ANGO reported an adjusted loss per share of 7 cents for third-quarter fiscal 2026, narrower than the year-ago quarter’s adjusted loss per share of 8 cents and the Zacks Consensus Estimate of a loss of 11 cents. GAAP loss per share was 19 cents, wider than the year-ago period’s 11 cents. Revenues in the fiscal third quarter totaled $78.4 million, up 8.9% year over year both on a reported and pro forma basis. The top line outpaced the Zacks Consensus Estimate by 1.4%. The company continued to see strong contributions from its Med Tech (which includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform) and Med Device businesses during the quarter. Shares of this company gained nearly 1.1% in today’s pre-market trading. In the quarter under review, U.S. net revenues totaled $67.3 million, up 9.7% year over year both on a reported and pro forma basis. This figure compares to our U.S. net revenues’ fiscal third-quarter projection of $65.7 million. International revenues came in at $11.1 million, up 4.5% from the year-ago quarter, both on a reported and pro forma basis. This figure compares to our fiscal third-quarter International revenues’ projection of $11.1 million. AngioDynamics derives revenues from two businesses — Med Tech and Med Device. The Med Tech business’ net sales in the fiscal third quarter were $37.3 million, reflecting an uptick of 18.9% year over year both on a reported and pro forma basis. This figure compares to our fiscal third-quarter Med Tech business’ net sales projection of $36.4 million. The rise was primarily on the back of increased net sales of Auryon, amounting to $16.3 million (up 17.9% year over year), Mechanical Thrombectomy revenues (which includes AngioVac and AlphaVac) of $11.5 million (up 17.9% year over year) and NanoKnife sales of $7.6 million (up 21% year over year). In the quarter, AngioVac revenues were $7.2 million (up 5% year over year) and AlphaVac revenues were $4.4 million (up 47.4% year over year). Total NanoKnife revenues included 20% growth in probes and 24.9% growth in capital sales. Med Device revenues in the fiscal third quarter grossed $41.1 million (up 1.2% from the year-ago period) and $40.7 million (up 1.1%) on a reported and pro forma basis, respectively. This figure compares to our fiscal third-quarter Med Device business’ net sales projection of $40.4 million. AngioDynamics, Inc. price-consensus-eps-surprise-chart | AngioDynamics, Inc. Quote In the quarter under review, AngioDynamics’ pro forma gross profit rose 6.7% to $41.5 million. However, the pro forma gross margin contracted 107 basis points to 52.9%. We had projected a pro forma gross margin of 54.9% for third-quarter fiscal 2026. Sales and marketing expenses on a pro forma basis increased 7.6% to $27.4 million year over year. Research and development expenses on a pro forma basis increased 2.5% year over year to $7.1 million, whereas general and administrative expenses on a pro forma basis increased 2.2% to $10.7 million. On a pro forma basis, adjusted operating expenses of $45.2 million increased 5.4% year over year. The adjusted operating loss on a pro forma basis totaled $3.8 million compared with the prior-year quarter’s loss of $4 million. AngioDynamics exited third-quarter fiscal 2026 with cash and cash equivalents of $37.8 million compared with $41.6 million at the fiscal second-quarter-end. The company ended the quarter with no debt on its balance sheet. Cumulative net cash used in operating activities at the end of third-quarter fiscal 2026 was $14.4 million compared with $28.9 million a year ago. AngioDynamics has revised its guidance for fiscal 2026. The company now expects its net sales to be in the range of $313.5 million-$315.5 million, up from the prior outlook of revenues between $312 million and $314 million. The Zacks Consensus Estimate is currently pegged at $313.2 million. AngioDynamics now expects its Med Tech revenue growth to be in the range of 15%-17%, up from the prior growth projections of 14%-16% from the comparable fiscal 2025 period. Med Device revenue growth is now projected to be approximately 1% compared with the earlier growth projection of 0%-1% from the comparable fiscal 2025 period. The adjusted loss per share is now projected to be between 30 and 23 cents, narrowed from the earlier projections of 33 and 23 cents. The Zacks Consensus Estimate is currently pegged at a loss of 27 cents per share. AngioDynamics exited the third quarter of fiscal 2026 with narrower-than-expected adjusted loss per share and better-than-expected revenues. The uptick in overall revenues and geographical revenues, both on a reported and pro forma basis, looked promising. The robust performance of both segments was also impressive. Robust Auryon, AngioVac, AlphaVac and NanoKnife sales were also recorded during the quarter. Per management, ANGO’s mechanical thrombectomy portfolio exhibited strong performance during the quarter as commercial adoption continued to build with both AlphaVac and AngioVac. However, dismal bottom-line results were disappointing. The pro-forma gross margin contraction does not bode well. ANGO currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space that are expected to report earnings soon are Globus Medical, Inc. GMED, DaVita Inc. DVA and GE HealthCare Technologies Inc. GEHC. The Zacks Consensus Estimate for Globus Medical’s first-quarter 2026 adjusted earnings per share (EPS) is currently pegged at 92 cents. The consensus estimate for revenues is pegged at $728.9 million. GMED currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Globus Medical has an estimated long-term growth rate of 9.6%. GMED’s earnings yield of 5.1% compares favorably with the industry’s negative yield. DaVita currently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $2.41. The same for revenues is pegged at $3.30 billion. DaVita has an estimated long-term growth rate of 20.2%. DVA’s earnings yield of 9.7% compares favorably with the industry’s 5.7%. GE HealthCare currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.07. The same for its revenues is pegged at $5.06 billion. GE HealthCare has an estimated long-term growth rate of 9.1%. GEHC’s earnings yield of 7.1% compares favorably with the industry’s 2.4%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report DaVita Inc. (DVA) : Free Stock Analysis Report Globus Medical, Inc. (GMED) : Free Stock Analysis Report GE HealthCare Technologies Inc. (GEHC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research