ANGO

Prospective, multicenter FDA IDE study found an IRE-based treatment strategy was associated with longer overall survival in Stage III pancreatic cancer; new Category I CPT code for open pancreatic IRE takes effect January 1, 2027 LATHAM, N.Y., October 21, 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 two milestones for irreversible electroporation (IRE), the non-thermal ablation technology delivered by the NanoKnife System. The first is the publication of results from the DIRECT study in The Oncologist, in which an IRE-based treatment strategy was associated with longer overall survival in patients with Stage III pancreatic ductal adenocarcinoma (PDAC). The second is a new Category I CPT® code for open IRE ablation of pancreatic tumors, effective January 1, 2027. DIRECT Study Publication The peer-reviewed article reporting overall survival results from the DIRECT study was published in The Oncologist (DOI: 10.1093/oncolo/oyag416). DIRECT is a multicenter study conducted under a U.S. Food and Drug Administration Investigational Device Exemption at 18 U.S. sites. The analysis compared patients treated with standard-of-care systemic therapy plus IRE with patients who received standard-of-care systemic therapy without IRE for Stage III PDAC. The analysis included 137 patients: 99 treated within an IRE-based strategy and 38 who received standard of care without IRE. Reported findings included: - Patients treated within an IRE-based strategy had a median overall survival of 28 months from diagnosis, compared with 15 months for patients who received standard of care without IRE. - After statistical adjustment for differences between the two groups, IRE remained associated with longer survival, including an average of five additional months of survival during the first 24 months. - Median progression-free survival was 9 months in the IRE group and 6 months in the standard-of-care group. Serious adverse events, defined as Grade 3 or higher, were reported in 56% of patients in the IRE group and 71% of patients in the standard-of-care group. DIRECT was a non-randomized study and the findings should be interpreted as an association between the IRE-based treatment strategy and longer survival, rather than definitive evidence that IRE caused the observed survival difference. "Locally advanced pancreatic cancer remains a formidable clinical challenge, and defining the role of local therapy after induction chemotherapy is a critical priority," said Robert C.G. Martin II, M.D., Ph.D., Director of the Division of Surgical Oncology at the University of Louisville School of Medicine and an investigator in the DIRECT study. "DIRECT provides prospective, multicenter evidence that an IRE-based treatment strategy was associated with longer overall survival, including after analyses that accounted for measured differences in patient selection and treatment timing. Because this was a nonrandomized study, it cannot establish that IRE caused the survival difference. The findings support further prospective evaluation of IRE and its consideration within a multidisciplinary treatment plan for appropriately selected patients." "Advancing pancreatic cancer research requires continued evaluation of multimodal treatment strategies that integrate local therapies with systemic therapy," said Rohan Jeyarajah, M.D., Chair of the Department of Surgery at TCU Burnett School of Medicine and Past President of the Americas Hepato-Pancreato-Biliary Association (AHPBA). "For locally advanced pancreatic cancer, generating meaningful clinical evidence is critical to informing future treatment strategies and improving the understanding of how these approaches may fit within multidisciplinary care." New Category I CPT Code Established for Open Pancreatic IRE The American Medical Association (AMA) CPT Editorial Panel approved a new Category I CPT code describing open ablation of pancreatic tumor(s) using IRE, including imaging guidance. The final code number and descriptor are expected to be published by the AMA, and the code is scheduled to become effective January 1, 2027. The new Category I CPT code for open pancreatic IRE follows the January 1, 2026 implementation of Category I CPT codes for liver IRE (CPT 47384) and prostate IRE (CPT 55877). It also follows Palmetto GBA's final Local Coverage Determination L40205, effective July 5, 2026, for appropriately selected patients with favorable intermediate-risk prostate cancer and metastatic colorectal cancer to the liver who meet the policy criteria. The new pancreatic IRE code establishes a standardized mechanism for reporting open pancreatic IRE procedures and represents continued progress in the coding infrastructure for IRE. The code does not determine coverage or guarantee payment. Coverage and payment decisions may vary by payer, plan and site of service. "Prostate cancer remains our commercial priority for the NanoKnife System, and that is where our commercial investment is concentrated," said Juan Carlos Serna, Senior Vice President of Scientific and Clinical Affairs at AngioDynamics. "The DIRECT publication and new pancreatic Category I CPT code reflect important work that was initiated before we aligned our commercial strategy around prostate cancer. We are pleased to see that work reach peer-reviewed publication and provide surgeons with a defined way to report open pancreatic IRE procedures beginning in January. These milestones add to the clinical evidence base for IRE and support continued clarity in how the procedure is reported." About the NanoKnife System The NanoKnife System utilizes Irreversible Electroporation (IRE) technology to effectively destroy targeted cells without the use of thermal energy by delivering high-voltage electrical pulses, creating permanent nanopores within the cell membrane. This stimulus induces an apoptotic-like cellular death in the targeted tissue, resulting in a complete ablation of the targeted tissue.1 Visit nanoknife.com for full product information. United States: The NanoKnife System with six outputs is indicated for surgical ablation of soft tissue, including prostate tissue. Canada: The NanoKnife System is a medical device for cell membrane electroporation. Electroporation is a phenomenon that occurs in cell membranes as cells are exposed to an electrical field of sufficiently high intensity. The electric field acts as a physical stimulus, bringing about alterations in cell membranes that result in increased permeability. European Union: The NanoKnife System is indicated for the ablation of soft tissue and tumors of the pancreas, kidney, liver, or prostate, including intermediate risk prostate cancer. 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 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 healthcare 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. AngioDynamics, the AngioDynamics logo and NanoKnife are trademarks and/or registered trademarks of AngioDynamics, Inc., an affiliate or subsidiary. All other trademarks are property of their respective owners. 1 Lee EW, Thai S, Kee ST. Irreversible electroporation: a novel image-guided cancer therapy. Gut Liver. 2010;4 Suppl 1(Suppl 1):S99-S104. doi:10.5009/gnl.2010.4.S1.S99 View source version on businesswire.com: https://www.businesswire.com/news/home/20261021330748/en/ Contacts Investors: AngioDynamics, Inc. Stephen Trowbridge, Executive Vice President & CFO (518) 795-1408 [email protected] Media: Saleem Cheeks Vice President, Communications 518-795-1174 [email protected]

Image source: The Motley Fool. Thursday, Oct. 8, 2026 - President and Chief Executive Officer - James C. Clemmer - Executive Vice President and Chief Financial Officer - Stephen A. Trowbridge Operator: Good morning and welcome to the AngioDynamics Fiscal Year 27 First Quarter Earnings Call. At this time, all participants are in a listen-only mode. Question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. The news release detailing AngioDynamics fiscal 27 first quarter results was issued 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's website at www.angiodynamics.com. A webcast replay of the call will be available at the same site approximately 1 hour after the end of today's call. Before we begin, I would 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 the fiscal year to this 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 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 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 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 to 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 comparisons will be the first fiscal quarter of 2 thousand 27 versus the first fiscal quarter of 2 thousand 26. Now I would like to turn the call over to Jim Clemmer, AngioDynamics President and Chief Executive Officer. Mister Clemmer? James C. Clemmer: Thank you, operator. Good morning, everyone. And thank you for joining us for AngioDynamics' fiscal 27 first quarter earnings call. Joining me today is Steve Trowbridge, AngioDynamics' executive vice president and chief financial officer. Before I get into our results, I want to start with an important update. Our board has completed a comprehensive search for my successor. I am pleased to share that Eric Honer will be joining us as President and Chief Executive Officer effective November 2. Eric brings more than 20 years of leadership experience in medical devices and life sciences. He most recently served as global president life science at Getinge. And before that, he led Getinge's $1.2 billion North American business where he accelerated growth delivered sustained revenue gains, and strengthened operational performance. His career spans the cardiovascular endovascular, urology, and oncology markets. With senior leadership roles. At Abbott Vascular, Becton Dickinson, CareFusion, and Boston Scientific. That combination is exactly what our board was looking for. Someone who is driven real growth and profitability in large, complex organizations, And who knows our markets firsthand? I am confident that he is the right person to build upon the foundation that we have put in place and I will remain closely involved to make sure that we have a smooth transition. I want to thank our board our search committee, and everyone across this organization who helped to make this happen. Now moving on to results. We grew total revenue by approximately 7% led by strength in our medtech segment, which grew more than 13%. that is clear evidence that the strategy guiding our transformation over the past several years keeps paying off. As a result, MedTech now represents approximately 49% of our total revenue. And that mix shift is only gaining momentum as we move through the year. Starting with Auryon, which remains 1 of the most consistent growth engines in this business, This quarter marked our 20-first consecutive quarter of double digit year over year growth. We are taking share across both the hospital and office based laboratory settings. With international adoption building as well. We are also advancing enrollment. In our ambition BTK study, which we believe will support the long term clinical case for AURYON below the knee. Turning to mechanical thrombectomy. We are also growing above market in this business. And the reason is simple. We have the most versatile product on the market. And a commercial team that is executing at a high level. And we are taking share from our competitors. AlphaVac is building real momentum as more hospitals continue to adopt it. In addition, we are really pleased with the progression of our AlphaReturn blood management system IDE trial. To further strengthen our position AngioVac is working through a tougher comp right now but the underlying demand for the product remains strong. And we expect it to return. To more normal growth as the year progresses. Finally, NanoKnife continues to fundamentally change the landscape of men's health care by improving outcomes and preserving quality of life. Through an innovative procedure for men with intermediate risk prostate cancer. Reimbursement progress remains a key driver including the positive MAC coverage decision that we received last quarter. And we are now working with additional regions with the goal of building towards consistent nationwide coverage. Physician interest, and procedure volumes in prostate care remain strong. We also received FDA approval for our relief study, which is evaluating NanoKnife for the treatment of BPH. A condition affecting millions of men. And a market opportunity we estimate at approximately $1.9 billion an important step in expanding where this technology help patients. Our med device segment grew approximately 1% This business remains a steady, reliable performer providing the consistent cash flow that funds our investment. In med tech platforms. Before I turn things over to Steve, I really want to thank our team. The work happening across the company is reflected in this quarter's results and is driving future growth ahead. We compete in large, fast growing markets, and we are positioned to win. Looking ahead, we have real catalyst in front of us. Continued progress in alpha return, expanding reimbursement coverage for NanoKnife, and ongoing enrollment our AMBITION BTK study each of which will create new opportunities. This all comes back to patients first. We believe people living some of society's most challenging diseases deserve trusted solutions deliver real care and better outcomes. When we deliver on that, we deliver value for everyone we serve. From patients and physicians, for our shareholders. Now I will turn it over to Steve to review the financials for the quarter. Stephen A. Trowbridge: Thanks, Jim, and good morning, everybody. As always, before I begin, I would like to direct everyone to the presentation on our investor relations website summarizing the key items from our quarterly results. Unless otherwise noted, all comparisons will be the first fiscal quarter of 27, versus the first fiscal quarter of 26. Company top line revenue performance was strong again in the quarter, Revenue increased 6.9% to $80.9 million driven by growth across our medtech segments. MedTech revenue was $39.9 million a 13.2% increase. For the first fiscal quarter, our medtech platforms comprised 49% of our total revenue. Compared to 47% of total revenue a year ago, reflecting the ongoing shift in our business mix. We remain on track for our med tech segment to comprise a majority of our overall revenue base, during this fiscal year. Within our med tech segment, our Auryon platform contributed $18.9 million in revenue growing 14.7% compared to last year. Aureon has now delivered double digit year over year growth for 21 consecutive quarters. This above market 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. We are confident in the long term opportunity for our mechanical thrombectomy portfolio. Combined AngioVac and AlphaVac sales were $12 million, an increase of 6.7% year over year. In the quarter, AlphaVac continued its strong trajectory generating revenue of $4.5 million representing a 37.4% year over year increase as well as growth of 6.4% sequentially. We are also pleased with the trajectory of AngioVac, which generated revenue of $7.5 million while this represented a 5.9% year over year decrease, AngioVac grew 9.1% sequentially. On the clinical front, we are encouraged by the ongoing progress in our AlphaReturn and AngioVac right sided infective endocarditis IDE studies. Both of which are seeing strong enrollment. Turning to NanoKnife. Total revenue was $8.3 million an increase of 29% with probes growing 24.1% and capital sales growing 53.5%. Probe sales are primarily driven by demand for NanoKnife in prostate care and we hit record procedure volumes during the quarter. Additionally, as systems are placed and new physicians and providers experience the improved patient outcomes our technology enables, we expect them to drive continued increases in 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. Continue to view disposables as the bellwether for this business. In the first quarter, our Med Device segment increased 1.4% year over year with revenue of $41 million This business generates consistent cash and profitability, allowing us to continue to invest in the growth of our med tech platforms. Now moving down the income statement. Our gross margin for the first quarter of FY 2027 was 59.4%, a 410 basis point increase from the first quarter of FY 26. Driven primarily by favorable pricing and the ongoing revenue mix shift towards medtech, which is partially offset by the manufacturing transition and global inflation, all of which were in line with the company's expectations. Gross margin also benefited from tariff refunds received during the quarter. Absent that benefit, margin would have been 57.8%. We expect gross margin to be higher in the first half of fiscal 2020 than in the second half, and we remain on track for full year gross margins to be within our guided range of 54% to 55%. Total operating expenses, which include R&D, SG&A, amortization, and nonrecurring items, in the quarter were $55.3 million representing 68.4% of sales compared to $52.5 million or 69.4% of sales last year. Turning to R&D. Our research and development expense was $8 million or 9.9% of sales, compared to $6.4 million or 8.5% of sales a year ago. We remain committed to investing in R&D initiatives to support the long term growth of our medtech segment and we are targeting approximately 10% of sales going forward. SG&A expense for the first quarter of FY 27 was $42.5 million representing 52.5% of sales, compared to $40.7 million or 53.7% of sales a year ago. On a GAAP basis, our net loss for the first quarter was $7.1 million or a loss per share of $0.17 compared to a net loss of $10.9 million or a loss per share of $0.26 a year ago. Our adjusted net loss for the first quarter of FY 2020 was $1.8 million or an adjusted loss per share of $0.04 compared to an adjusted net loss of $4.2 million or an adjusted loss per share of $0.10 in the first quarter of last year. Adjusted EBITDA in the first quarter of FY 27 was 5 million compared to adjusted EBITDA of $2.2 million in the first quarter of 26. Touching briefly on tariffs, Tariff related expenses were $900 thousand during the quarter, compared to $1.7 million for the prior year quarter, This is in line with our expectations. Additionally, we did receive $1.2 million of tariff refunds during the quarter, resulting in a net tariff benefit of about $400 thousand Turning to cash. In the first quarter, the company used $15.3 million of cash from operations, and in line with our expectations. We ended the quarter with $34 million in cash, and we maintain a strong debt free balance sheet. We also remain on track to generate positive cash flow from operations for the full fiscal year. Turning to guidance for fiscal 27, we continue to anticipate net sales to be in the range of $336 million to $341 million representing growth of between 5% to 6.5% over 2020 revenue of $320.2 million Within each of our businesses, we expect MedTech net sales to grow 12% to 15% year over year, and we expect MedDevice sales to be roughly flat. For fiscal 2027, we expect gross margin to be in the range of 54% to 55%, We expect adjusted EBITDA to be in the range of $13 million to $16 million And finally, we expect adjusted loss per share in the range of $0.29 to $0.24. We expect the impact from tariffs to be broadly similar to fiscal 26 based on our current view of the tariff situation, but this remains dynamic and clearly subject to change. So with that, I will turn it back to Jim. James C. Clemmer: Thanks, Steve. Before we close, I would like to say a word about our leadership transition. Leading AngioDynamics has been the privilege of my career. And I am incredibly proud of what our team has built together over the past 10 years. Together, we set a clear direction built a strategy to transform this company, and created a robust product portfolio that competes and wins in large important markets. It has not been easy but this team has done it. And I am very confident. That our strength will carry forward. I have full confidence in Eric, and in our organization's ability to keep executing at a high level through this transition. With that, operator, let's open the line for questions. Operator: Thank you. You may press *2 if you would 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 * keys. Our first question comes from the line of Frank Takkinen with Lake Street Capital Markets. Please proceed with your question. Frank Takkinen: Great. Great. Congrats on the progress in the new CEO appointment. On NanoKnife, I would like to follow-up on, how you guys think about once the equipment is placed, in the time line to really scaling to a higher utilization rate? Obviously, fiscal Q4 had a really nice placement. Quarter, and then you had a nice placement quarter in fiscal Q1 again. How should we think about when these systems might start to really contribute to the disposables business and that ramp up expectation? Stephen A. Trowbridge: Hey, good morning, Frank. This is Steve. Thanks for the question. So I think capital placement is a good way to think about driving NanoKnife, but we think that the better way to think about it is disposable growth. Yeah. As we have talked about before, we have got a number of different placement models with NanoKnife, particularly in the prostate space. We are continuing to sell systems. We are also placing systems during the quarter, getting them in the hands of urologists. As we have said in the past, we do not want access to capital to be a governor on whether or not a urologist chooses NanoKnife for their practice. We have been very pleased with the pace of capital sales that we have seen over the course of the last 6, 8 quarters as we have talked about. You are right. Q4 was a very strong capital quarter. Q1 was another strong capital sales quarter. We think that the right way to look at this business is the disposable sales. And we have been really pleased with the trajectory of the disposable sale growth that we have seen sequentially as well as year over year. So yes, utilization is a good way to think about it, but utilization is gonna be variable from system to system depending upon where we place it. If it is going into a system that has had experience with NanoKnife in the past, As Jim talked about, there is variability in the pace of adoption based upon reimbursement in that particular area. We have been very pleased with the with what we have seen since we got the CPT 1 code and certainly with the Palmetto MAC decision that we talked about last quarter. So all of that is trending in the right direction. We think they are all showing very healthy signs for NanoKnife, starting with capital sales, but more importantly, looking at those disposable sales. Frank Takkinen: Very helpful. Maybe on mechanical thrombectomy, I know we have talked about in the past of some of the commercial enhancements you guys have implemented. Over the last few quarters. Maybe an update on some of those and whether or not those were kind of drivers in the quarter or if we are still waiting for some of the new heads to start contributing and we could see that as a second half contribution in the mechanical thrombectomy business. Stephen A. Trowbridge: Frank, we expect mechanical thrombectomy to continue to grow. As we have talked about coming into this year, we are really excited about the combined AngioVacAlphaVac business together. We think AngioVac is a little bit more niche right now. We expect that to be kind of in the single digit growth, and we expect Alphavac to really be driving that growth. Definitely seeing the contributions from some of those changes that we made in the commercial organization. I expect those to continue. We are also just seeing continued enthusiasm for physicians who have got their hands on our product. As Jim said in the past, we really believe we have got the best product out there, And the more that we can get that product in the hands of physicians, they are going to choose Alphavac for PE. They are gonna choose AngioVac for those cases where AngioVac is the right product line. So yeah, I expect to see continued benefits coming from all of the changes we are making in the commercial organization. But as we continue to just get more products in the hands of physicians, we expect that to also be a catalyst for growth. We mentioned in the prepared remarks, we are really excited about the pace of our, AlphaReturn IDE enrollment. To add blood return as another option to this product line. So the continued development of the products, the line extensions, getting more people time, in the sales organization, just getting more products in the hands of physicians are all going to continue to contribute to that growth over the course of this. Very helpful. Frank Takkinen: And then if I could just squeeze 1 more in. Maybe related to cash usage. Obviously, fiscal Q1 is your highest cash usage quarter of the year. However, I think if you look back at last year, you used a little bit less cash on a little bit less revenue. And this year, a little more revenue, but a little more cash usage. Maybe talk about some of the moving pieces related to that, and then maybe how we should think about cash generation through the end of the year. Thanks. Stephen A. Trowbridge: Yeah. In general, I would not say that there was a very big difference in this quarter versus where we have been historically. Q1 is always the largest utilization of cash quarter for us. That comes from things like incentive compensation, sales compensation that gets paid in the quarter, tariffs or something to do that is been added the last 2 years. So in general, you should think of cash utilization as being pretty consistent historically. So what that means is expect Q1 to be the largest utilization. Expect Q2 and 3 to not have that level of utilization Sometimes we generate a little bit of cash. Maybe it is, you know, flat. Q2 and Q3, within Q4 being the largest generation of quarter moving forward. I would expect that same cadence to continue this year. And then as we mentioned, we expect to be generating positive cash flow for from operations for this full fiscal year. Frank Takkinen: Perfect. Thank you for taking the questions. Congrats again. Stephen A. Trowbridge: Thanks, Frank. Operator: Thank you. Our next question comes from the line of John Young with Canaccord Genuity. Please proceed with your question. John Young: Hey, Jim and Steve. Congratulations on the quarter. And, Jim, congratulations again on past 10 years, best wishes for your retirement. I also wanted to talk about the mechanical thrombectomy business with you guys. Any color just on the number of new accounts that you opened on the quarter? And how we should think about growth in this quarter from new accounts versus existing accounts? And have you been able to take any advantage of some of the disruptions that continue to occur in this space? James C. Clemmer: Yes. Hi, John. Good question. So we measure new business through different angles here in this space. Through new competitive conversions, through doctors who have come online to use it, how they go up, kind of the same store sales approach. We measure how many hospitals put us through their value analysis process and get us into stock as well. On the shelf next to maybe competitive products. So each of those are trending in the right direction. The Salesforce additions we talked to you about we made earlier this year, The people are now trained up to speed, and they are contributing to each of those things. So we have more doctors coming on using our device. More doctors using it in the same accounts, then more people who have it in stock on the shelves. So we are really pleased. We measure each of those very carefully. And building up to what we hope will be the AlphaReturn project getting, on label early next calendar year. As Steve mentioned earlier, we are pleased with the pace of enrollment. And we expect that to come on. That will just take down 1 more hurdle that some in the marketplace have for us. But, managing our company, John. We watch the market really carefully. We have got good competitors in the space, as you know. And there is been disruption at those competitors that we cannot control. We watch. We wanna make sure we are the best angio that we can be. We continually build upon how we make our company better, we bring to the physicians as a value prop better, And, we will monitor the disruption other places. We think we are gonna win on our game as well. Irrespective of our competitors. Okay. John Young: that is great to hear. And then just on NanoKnife disposal in the quarter, down 20% from the last, May quarter sequentially. Is that heightened seasonality of just a larger base of business now? Was there stocking in the last fiscal quarter? And maybe how did the results compared to your internal expectations And can you just talk about any differences you are seeing in the business on the disposal side between sell in and sell through? Thank you. Stephen A. Trowbridge: Yes, John. Thanks for the question. We are really excited about the trajectory we are seeing with NanoKnife. And this business is a little more mature than some of the other growth businesses. So there is seasonality. that you are going to see. Q4 for us is always our highest quarter. it is pretty typical in the med device business. You see that. So we were not expecting that we were gonna see growth off of where we ended Q4. And with your question to was there stocking, and the throughput, I do not think that is a material piece that we are seeing here. there is always gonna be fluctuations in terms selling and using. In a growth business, we wanna be selling ahead of the curve. We wanna make sure that products are on the shelf for physicians so that they can use it when those patients come in. We track the procedure volume every month, and we have been seeing consistent records that we are setting in terms of prostate procedures every month. Q1, we had larger procedure volume than what we saw in Q4. So you see those procedures up ticking. I think that is the right way to think about the business. So there is gonna be a little bit of seasonality. Q4 being the highest quarter, usually Q1 a little bit down from Q4 Usually Q2 is a step up from Q1 with Q3 being our softest quarter because structurally that includes December, January, and February. So it is kind of a tough structural quarter there. Put that aside, we are really excited about what we are seeing with NanoKnife, continued procedure growth new physicians that are coming on adopting this technology, physicians that have already adopted continuing to lean in and use it more Good decisions that we are seeing on the reimbursement front. Of course, it is not mission accomplished there yet. there is a lot of work for us to do to continue to make sure that there is consistent, reliable reimbursement across the country. But what we have seen so far have all been very positive. Okay. Great. And then just 1 more if I could. I understand the gross margins in the quarter benefit from tariffs. But even on the adjusted basis that you called out, what drove beyond that? Are there any other 1 time versus just lasting benefits that you are seeing? And is Costa Rica fully contributing at this point and basing into the guidance? Thanks. Yeah. So gross margin, we are pleased with what we saw in Q1. You mentioned the tariffs. I do think the right way to think about gross margin is to probably take out that tariff refund that we saw in the quarter. We expect to continue to get more tariff refunds going forward. I just do not know when they are going to come in. So that 57.8% as opposed to the 59%, I think that is the right way to think about it as a baseline. You know, 1 of the things that we talked about historically is we do have a little bit of a structural impact on gross margin, where the 55% to 56% But really to get to your question, yeah, the underlying gross margin trajectory is very strong. We are seeing the benefit from price that we talked about particularly in the device business. And then that mix shift. So as the med tech higher margin products become a larger portion of our overall revenue base, we are seeing that continue to build in and drive gross margins. The benefit of Costa Rica is in what we are seeing. We have talked about the fact that we were able to accelerate some of those cost savings over the course of the last 6 quarters or so. So you have seen that kind of starting to get into the base, and that can be a nice catalyst as we continue to move forward. So we like what we are seeing in gross margin. Definitely, it. it is it is all part of the strategy that we put in place. The long term driver is gonna be that mix shift that we are seeing a benefit from. You have got noise with tariffs. You got noise with some of the rising cost environment. But as you eliminate that, that gross margin accretion story is really taking hold. John Young: Thanks again. Operator: Thank you. Our next question comes from the line of Yi Chen with H.C. Wainwright. Please proceed with your question. Katie: Hi. Good morning. This is Katie on for Yi. Looking at relief, what does that program need to demonstrate for you to commit to a larger BPH program? Symptom improvement, durability, What are you guys looking for? And if it meets that threshold, would the next stage fit within your existing R&D spending framework? Or require a step up? Stephen A. Trowbridge: Yeah. In terms of relief and using NanoKnife to treat BPH, we are excited about that opportunity. 1 of the things that we have always talked about is the fact that our med tech product portfolio is made up of 3 legs to a stool there, and every 1 of those legs is a platform opportunity. We are really excited about the opportunity to take AngioVac and AlphaVac to go into PE and then maybe take AngioVac onto the left side where we think we have got a right to win and can really address an unmet clinical need. We are excited about AURYON and how it works in the peripheral, and we have talked about taking the steps to now take AURYON and go into a coronary space. NanoKnife and BPH is that potential platform opportunity for us. We are still in the early stages. Think it is important for us to do the work to understand how does NanoKnife impact the tissue when it comes to BPH. Durability that you mentioned is going to be a question for us. I do not think our pilot study is going to answer the durability, but it is something that we are going to continue to be focused on. As we build out the business case here. So relief is really an opportunity for us to do the early stage work, take NanoKnife, start to build out that business case of moving that longer term platform opportunity into BPH. Great, thank you. Sorry, just to answer your question on the R&D, we have talked about targeting around 10% of sales for R&D going forward, and that is inclusive of the growth that we expect to see, particularly driven by the 10% target that we have for R&D going forward. Thank you. Operator: Thank you. Our next question comes from the line of Iryna Kanetskaya with Freedom Broker. Please proceed with your question. Analyst: Hi. Thanks for taking my question. And congrats on a strong start to the year. Jim, congrats on the retirement and on everything you have built over the 10 years and welcome to Eric. I wanted to ask about 2 things, if that is okay. James C. Clemmer: Sure. First, on AURYON, as more peripheral case move into office based labs, has that changed how you go to market? I am also curious whether those customers behave differently from hospital accounts. Are they more price sensitive, or do they tend to be more loyal once they adopt it is a great question. So, I will remind you, we launched Auryon in the marketplace in September of 2020. If you look back, that was 6 months after the COVID interruption and all of our lives were affected. So launching AURYON then required us to spend most of our initial launch with the office based lab customers. Because many hospitals were kind of closed for business for new products. They had to deal with the pandemic challenges they had internally. So we got a lot of experience out of the gate building our business around the office-based lab customer, learn what is important to them, and how we grew that business very rapidly. So we understand that marketplace. A lot of the clinical needs are the same in the hospital or in the OBLs. Economically, it is a little different story. So a couple years ago when the hospitals more or less reopened for business again, we talked to you about our shift and our intention to have our sales reps focus on that business And you have seen what we have done since then. Seeing a really great growth in the hospital business. So over time, what you should expect from us is a good balance between both. Both are important to us. Different economics in both. We understand both. Clinically, again, we win in both. And we are taking share from the other 5 players in this space. In both of those settings due to what Auryon brings, scientifically, clinically, how it works, the safety, effectiveness, The only product that can do in-stent restenosis treatment work above the knee and below the knee. So we are really, really versatile for our customers. And that is really important. To office based labs, and especially when they have economic challenges, space challenges, and cannot have a lot of other products on the shelf. And we are finding also some of those correlate in the hospital as well. So great question. Continue to follow us. You will see growth continue in both of those, care settings. Analyst: Thank you so much. And second question on NanoKnife for prostate. Could you give us a sense of who is adopting it as well right now? Is it mostly academic urology centers with an IRE champion or are you starting to see community urologists coming on board? And also related to that, when a site buys the generator, but takes a while to reach steady procedure volume, what is usually holding it back? Thank you. Stephen A. Trowbridge: Yeah. So starting on the first question, what is driving NanoKnife results these days is prostate. So it is urologists, and it is choosing NanoKnife to treat prostate. Prostate is by far the highest, organ that is being treated. That flipped maybe a handful of quarters ago. And there is a difference between when we used to be focused on the hepatobiliary side, for pancreatic cancer, liver cancer, and what we are seeing with physicians who are treating prostate cancer. The prostate cancer treatment is not something that is concentrated in the university settings. It is something that is being done in a lot of those regional hospitals and the other hospital setting. it is 1 of the reasons why we think it is a better business opportunity for us. there is an opportunity for us to get more systems out there to have more physicians doing it as opposed to being concentrated in some of those university settings. So we are seeing that through the prostate movement. that is what is driving NanoKnife as we go forward. And that is where our focus is gonna be. We wanna continue to drive NanoKnife utilization, particularly in the United States, in prostate. Now in international markets, it is a little bit more balanced. We are seeing growth within prostate, but then there is also a lot of growth in utilization coming from folks who, you know, had done some of those liver and pancreatic treatments. NanoKnife is a great technology. there is opportunities for us, in almost any solid tumor basis, But you think about our strategy, we are focusing primarily US on prostate and then supporting the use of NanoKnife as we as we think globally. And so, you know, we are excited about what we are seeing there. that is where the growth is coming from. On your question about, you know, what stops someone from really getting up utilization, it is a little bit specific to each individual physician. You know, for folks who are buying the system, that is a great sign that they are very committed to NanoKnife as part of their practice. You know, 1 of the things we have also talked about particularly in that urology setting, is making sure that we have got alternative placement models we can get capital into the hands of physicians so they can start doing those procedures. Think what we are seeing is it is a it is a lot of, factors that go into physicians who are building up their business, start getting access to the capital, starts with what is best for the patient. Right? And then they are choosing NanoKnife because they know that NanoKnife can avoid quality of life side effects and get to really good outcomes for their patients. Last quarter, we talked about putting out our 2 year follow-up data coming out of PRESERVE. Being really excited about the fact that there were zero additional incidents of recurrence coming out of PRESERVE. So we know it is good for patients They can get access to the capital. They can treat their patients, and then get reimbursement. that is why we have talked a lot about the work that we have done on reimbursement to provide that foundation for physicians. So all those things working together are what helps drive a physician to really build their practice, and we like what we are seeing. Thank you so much, and congrats again. Thank you. Operator: Thank you. Ladies and gentlemen, that concludes our question and answer session. I will turn the floor back to Mr. Clemmer for final comments. James C. Clemmer: Thank you again for joining our call. We are really pleased with the start of our fiscal year for AngioDynamics What you heard here today is not an accident, and it is not random. it is a well planned idea that we could transform our company starting with our portfolio, changes we started to make 5 and 6 years ago. We were deliberate. We were intentional. We also tried to be very transparent with you on our journey. You can see what we have today. So today, we have a company built upon the strength of a medical device platform that gives us the capital and the strength in the background. To invest in our med tech platform that will be the growth engine for years to come. Today, we showed, I think, that our products are winning in each of the markets that we serve. Winning against really good companies and good competitors. But we are winning because we are getting confidence in the physicians that choose to use us. To treat the patients they serve. The outcomes stand alone. So we have got a really great company. We have got new people who have joined us, brought their talents to our company. And their ambition driven by their belief. In what our mission is. I am excited to welcome Eric to our company. And hopefully, you will stay with our journey. We will continue to deliver great results. Thank you again for all of my teammates at our company. Talk to you soon. Operator: Thank you. This concludes today's conference call. You may disconnect your lines at this time. Thank you for your participation. Before you buy stock in AngioDynamics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AngioDynamics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $375,887!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,459,146!* Now, it's worth noting Stock Advisor's total average return is 955% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of October 8, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. AngioDynamics (ANGO) Q1 2027 Earnings Call Transcript was originally published by The Motley Fool

AngioDynamics, Inc. ANGO reported an adjusted loss per share of 4 cents for first-quarter fiscal 2027, narrower than the year-ago quarter's adjusted loss of 10 cents. The figure also beat the consensus estimate by 60%. Revenues totaled $80.9 million, up 6.9% year over year, in line with the Zacks Consensus Estimate. Growth was primarily driven by strong Med Tech performance, particularly Auryon, AlphaVac and NanoKnife. The company also recorded a substantial improvement in gross margin. AngioDynamics continued to benefit from its strategic shift toward higher-growth Med Tech products. The business contributed approximately 49% of total revenues compared with 47% in the year-ago period. Management expects Med Tech to account for a majority of total revenues during fiscal 2027. The company recorded its eighth consecutive quarter of double-digit Med Tech revenue growth and positive adjusted EBITDA. However, shares of this company lost more than 20% during yesterday's trading. In the quarter under review, U.S. net revenues totaled $71.1 million, reflecting an improvement of 6.9% from the year-ago quarter's $66.5 million. International revenues amounted to $9.8 million, up 6.4% from the prior-year period's $9.3 million. Growing international adoption of the Auryon platform, following its CE Mark approval, supported the company's expansion efforts. AngioDynamics derives revenues from two businesses — Med Tech and Med Device. Med Tech Med Tech revenues totaled $39.9 million, increasing 13.2% from the prior-year quarter. Auryon sales reached $18.9 million, reflecting 14.7% growth and marking the platform's 21st consecutive quarter of double-digit year-over-year growth. Increasing adoption across hospitals and office-based laboratories supported performance. Mechanical Thrombectomy revenues increased 6.7% to $12 million. AlphaVac revenues climbed 37.4% to $4.5 million, while AngioVac revenues declined 5.9% to $7.5 million. Sequentially, AlphaVac and AngioVac revenues grew 6.4% and 9.1%, respectively. NanoKnife revenues jumped 29% to $8.3 million, supported by 24.1% growth in probe sales and 53.5% growth in capital sales. Management highlighted record prostate procedure volumes, reflecting increasing physician adoption. Med Device Med Device revenues reached $41 million, up 1.4% from $40.4 million in the comparable period. Management continues to view this business as a consistent source of cash generation and profitability, supporting investments in higher-growth Med Tech platforms. AngioDynamics, Inc. price-consensus-eps-surprise-chart | AngioDynamics, Inc. Quote Gross profit increased 14.8% year over year to $48 million. Gross margin expanded 410 basis points to 59.4%, primarily benefiting from favorable pricing and a greater contribution from higher-margin Med Tech products. Excluding tariff refunds, gross margin was 57.8%. Research and development expenses increased 24.3% year over year to $8 million. Sales and marketing expenses rose 6.6% year over year to $30 million, while general and administrative expenses declined 0.7% to $12.5 million. Total operating expenses increased 5.4% year over year to $55.3 million. However, operating loss narrowed year over year to $7.3 million from $10.7 million. AngioDynamics exited the first quarter of fiscal 2027 with cash of $33.9 million compared with $53.9 million at the fiscal 2026 end. The company ended the quarter with no debt on its balance sheet. Net cash used in operating activities totaled $15.3 million compared with $15.9 million in the prior-year quarter. Management expects positive operating cash flow for the full fiscal year, with the fiscal fourth quarter likely to generate the strongest cash inflows. AngioDynamics reiterated its fiscal 2027 revenue guidance of $336-$341 million, representing projected growth of 5-6.5% year over year. The Zacks Consensus Estimate is currently pegged at $338.5 million. Med Tech revenue growth is expected between 12% and 15%, while Med Device revenues are projected to remain flat. Management continues to expect gross margin of 54-55% and adjusted EBITDA between $13 million and $16 million. Adjusted loss per share is anticipated between 29 cents and 24 cents. The company expects tariff-related impacts to remain broadly comparable to fiscal 2026, excluding refunds. 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 26 cents per share. AngioDynamics, Inc. price | AngioDynamics, Inc. Quote AngioDynamics' expanding clinical portfolio strengthens its long-term Med Tech growth opportunities. The FDA's Investigational Device Exemption approval for the RELIEF study represents a notable development for NanoKnife. The study will evaluate the technology for treating benign prostatic hyperplasia, potentially expanding its applications beyond oncology. NanoKnife reimbursement progress, including a favorable Medicare Administrative Contractor coverage decision, could support wider adoption. Meanwhile, ongoing AlphaReturn and AngioVac clinical studies, alongside Auryon's AMBITION BTK study, offer additional opportunities for expanding the company's addressable markets. The company also announced that Eric Honroth will succeed Jim Clemmer as president and CEO, effective Nov. 2, 2026. Honroth's extensive medical technology leadership experience could support the company's next phase of growth as it continues executing the Med Tech-focused strategy. ANGO currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are Globus Medical GMED, Veracyte VCYT and West Pharmaceutical WST. Globus Medical, currently sporting a Zacks Rank #1 (Strong Buy), reported a second-quarter 2026 adjusted earnings per share (EPS) of $1.34, which surpassed the Zacks Consensus Estimate by 19.6%. Revenues of $789.6 million beat the Zacks Consensus Estimate by 0.4%. You can see the complete list of today's Zacks #1 Rank stocks here. GMED has an estimated long-term earnings growth rate of 12.4%. The company's earnings beat estimates in each of the trailing four quarters, the average surprise being 27.9%. Veracyte, currently flaunting a Zacks Rank #1, reported a second-quarter 2026 adjusted EPS of 54 cents, which surpassed the Zacks Consensus Estimate by 25.6%. Revenues of $150.3 million beat the Zacks Consensus Estimate by 4.1%. VCYT has an estimated earnings growth rate of 8.4% for 2026. The company's earnings beat estimates in each of the trailing four quarters, the average surprise being 41.8%. West Pharmaceutical, carrying a Zacks Rank #2 (Buy) at present, reported second-quarter 2026 adjusted EPS of $2.37, which beat the Zacks Consensus Estimate by 13.9%. Revenues of $872.3 million surpassed the Zacks Consensus Estimate by 4.2%. WST has an estimated long-term earnings growth rate of 16%. West Pharmaceutical's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 17.4%. 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 West Pharmaceutical Services, Inc. (WST) : Free Stock Analysis Report Globus Medical, Inc. (GMED) : Free Stock Analysis Report Veracyte, Inc. (VCYT) : 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. - First-quarter revenue rose 6.9% to $80.9 million, driven by 13.2% growth in Med Tech, which now represents 49% of sales. Auryon grew 14.7%, while NanoKnife revenue surged 29% to a record $8.3 million. - Gross margin improved 410 basis points to 59.4%, and losses narrowed as adjusted EBITDA increased to $5 million from $2.2 million. The company ended the quarter with $34 million in cash and no debt. - AngioDynamics reaffirmed its fiscal 2027 outlook for revenue of $336 million to $341 million, Med Tech growth of 12% to 15%, and adjusted EBITDA of $13 million to $16 million. Eric Honroth will become CEO on Nov. 2, succeeding Jim Clemmer. AngioDynamics (NASDAQ:ANGO) reported fiscal 2027 first-quarter revenue growth of 6.9% to $80.9 million, led by continued expansion in its Med Tech segment, while the company maintained its full-year outlook and announced that Eric Honroth will become president and chief executive officer effective Nov. 2. Jim Clemmer, the company's current president and CEO, said Honroth will succeed him following a board-led search process. Honroth most recently served as Global President of Life Science at Getinge and previously led Getinge's $1.2 billion North American business. Clemmer said he will remain involved to support a smooth transition. → Lamb Weston's Turnaround Is Starting to Look Real "I am confident that he is the right person to build upon the foundation that we have put in place," Clemmer said. Med Tech revenue increased 13.2% to $39.9 million during the quarter, accounting for 49% of company revenue, compared with 47% a year earlier. Chief Financial Officer Steve Trowbridge said AngioDynamics remains on track for Med Tech to become a majority of its overall revenue base during fiscal 2027. → Why onsemi's Synaptics Pivot Could Be a Game Changer Auryon revenue rose 14.7% to $18.9 million, marking the platform's 21st consecutive quarter of double-digit year-over-year growth. Management attributed the performance to growth in both hospital and office-based laboratory settings, as well as international adoption following CE mark approval. Clemmer said the company is gaining share in both care settings and cited Auryon's ability to treat in-stent restenosis as well as disease above and below the knee. The company is also continuing enrollment in its AMBITION BTK study, which is intended to support the long-term clinical case for Auryon use below the knee. → Constellation Energy's Google Deal Shows Why Nuclear Uprates Matter for AI Combined revenue from the AngioVac and AlphaVac mechanical thrombectomy platforms rose 6.7% to $12 million. AlphaVac sales increased 37.4% year over year to $4.5 million and rose 6.4% sequentially. AngioVac revenue totaled $7.5 million, down 5.9% from the prior-year period but up 9.1% sequentially. Trowbridge said AngioDynamics expects AlphaVac to be the primary growth driver for the combined mechanical thrombectomy business, while AngioVac is expected to post single-digit growth. The company said commercial additions are now trained and contributing, while more physicians and hospitals are adopting its products. Management also highlighted progress in enrollment for the AlphaReturn blood-management system investigational device exemption trial and the AngioVac right-sided infective endocarditis IDE study. The company expects AlphaReturn to add another option to the product line if it reaches its milestones. NanoKnife revenue increased 29% to $8.3 million. Probe sales grew 24.1%, while capital sales rose 53.5%. Trowbridge said the company recorded its highest quarterly procedure volume for NanoKnife in prostate care, adding that disposable sales remain the more important indicator of the platform's underlying performance than capital-system sales. Management said capital sales can vary significantly by quarter and should not be expected to continue growing at the first-quarter rate. The company expects systems placed with physicians and providers to support future probe utilization, though ramp timing can differ by site and reimbursement conditions. AngioDynamics continues to pursue broader reimbursement coverage for NanoKnife. The company cited a positive Medicare Administrative Contractor coverage decision received in the prior quarter and said it is working with additional regions toward more consistent nationwide coverage. The company also received FDA approval for its RELIEF study evaluating NanoKnife in benign prostatic hyperplasia, or BPH. Management described BPH as a potential platform expansion opportunity estimated at approximately $1.9 billion. Trowbridge said the early-stage study is intended to help the company understand NanoKnife's impact on BPH tissue and build a business case for potential future development, including considerations such as treatment durability. The Med Device segment generated revenue of $41 million, up 1.4% year over year. Management characterized the segment as a source of consistent cash flow and profitability that supports investment in Med Tech platforms. First-quarter gross margin expanded 410 basis points to 59.4%, aided by favorable pricing, a higher proportion of Med Tech revenue and $1.2 million in tariff refunds. Excluding the tariff-refund benefit, gross margin would have been 57.8%, according to Trowbridge. The company said it expects first-half gross margin to exceed second-half levels and maintained its full-year gross-margin outlook of 54% to 55%. Research and development expense rose to $8 million, or 9.9% of sales, from $6.4 million a year earlier. AngioDynamics said it is targeting R&D spending of about 10% of sales going forward as it funds Med Tech growth initiatives. SG&A expense was $42.5 million, compared with $40.7 million in the prior-year quarter. - GAAP net loss narrowed to $7.1 million, or $0.17 per share, from $10.9 million, or $0.26 per share. - Adjusted net loss narrowed to $1.8 million, or $0.04 per share, from $4.2 million, or $0.10 per share. - Adjusted EBITDA increased to $5 million from $2.2 million. AngioDynamics used $15.3 million in operating cash flow during the first quarter and ended the period with $34 million in cash and no debt. Trowbridge said the first quarter is typically the company's largest cash-use period, partly due to incentive and sales compensation payments, and that AngioDynamics still expects positive operating cash flow for the full fiscal year. The company reaffirmed fiscal 2027 guidance for revenue of $336 million to $341 million, representing growth of 5% to 6.5% from fiscal 2026. It continues to expect Med Tech revenue growth of 12% to 15%, roughly flat Med Device revenue, adjusted EBITDA of $13 million to $16 million, and an adjusted loss per share of $0.29 to $0.24. Management said it expects tariff effects to be broadly similar to fiscal 2026, while noting that the tariff environment remains subject to change. AngioDynamics, Inc is a medical device company that develops, manufactures and markets minimally invasive products for use in vascular disease, vascular access and oncology. Its technologies are designed to help physicians treat blood clots, restore blood flow, manage vascular access and ablate targeted tissue. The company's portfolio includes the Auryon platform for atherectomy, which uses laser technology to treat peripheral arterial disease; the AngioVac and AlphaVac systems for removing thrombus and other unwanted material from blood vessels; and BioSentry products used to seal biopsy tracts. 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 Q1 Earnings Call Highlights" was originally published by MarketBeat. 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Delivered its eighth consecutive quarter of double-digit Med Tech segment growth and positive adjusted EBITDA LATHAM, N.Y., October 08, 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 first quarter of fiscal year 2027, which ended August 31, 2026. Fiscal Year 2027 First Quarter Financial Highlights | Quarter Ended August 31, 2026 | YoY Growth Net Sales | $80.9 million | 6.9% Med Tech Net Sales | $39.9 million | 13.2% Med Device Net Sales | $41.0 million | 1.4% - GAAP gross margin of 59.4% - GAAP loss per share of $0.17 - Adjusted loss per share of $0.04 - Adjusted EBITDA of $5.0 million - Announced the appointment of Eric Honroth as President and Chief Executive Officer, effective November 2, 2026, succeeding Jim Clemmer - Received FDA IDE (Investigational Device Exemption) approval for the RELIEF study evaluating NanoKnife IRE for the treatment of benign prostatic hyperplasia "Our first quarter results reflect the continued, consistent execution we've built into this business," said Jim Clemmer, President and Chief Executive Officer of AngioDynamics. "Med Tech again led our growth, highlighted by Auryon's 21st consecutive quarter of double-digit atherectomy growth, continued performance in Mechanical Thrombectomy, and ongoing strength in our NanoKnife oncology platform. We remain focused on the fundamentals that have driven our performance over the past several years, and we're confident in our ability to deliver on the outlook we've laid out for fiscal 2027." Mr. Clemmer continued, "As I shared previously, after ten years leading this company, I have decided to retire, and the Board has completed a comprehensive search for my successor. I'm pleased to share that Eric Honroth will become our next President and Chief Executive Officer. He brings the right experience and leadership to build on the foundation we've established, and I will remain closely involved to ensure a smooth transition." Fiscal First Quarter 2027 Financial Results Net sales for the first quarter of fiscal year 2027 were $80.9 million, an increase of 6.9% compared to the prior-year quarter. Med Tech net sales were $39.9 million, a 13.2% increase from $35.3 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 $18.9 million, an increase of 14.7% compared to the prior-year quarter. In our Mechanical Thrombectomy business, AlphaVac sales grew 37.4% compared to the prior year quarter and 6.4% sequentially. AngioVac faced a tough comparison, declining 5.9% versus prior year and yet growing 9.1% sequentially. Overall, Mechanical Thrombectomy delivered sales of $12.0 million, an increase of 6.7% compared to the prior-year quarter. NanoKnife sales were $8.3 million, an increase of 29.0% compared to the prior-year quarter, driven primarily by continued demand for prostate procedures, including 24.1% growth in probes and 53.5% growth in capital sales. Med Device net sales were $41.0 million, a 1.4% increase compared to $40.4 million in the prior-year period. Gross margin for the first quarter of fiscal 2027 was 59.4%, which was 410 basis points higher compared to the first quarter of fiscal 2026, 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. Gross margin also benefited from tariff refunds received during the quarter; absent this benefit, gross margin would have been 57.8%. As previously stated, the Company expects gross margin to be lower in the second half of fiscal 2027 than in the first half. The Company recorded a GAAP net loss of $7.1 million, or a loss per share of $0.17, in the first quarter of fiscal 2027, compared to a net loss of $10.9 million, or a loss per share of $0.26, a year ago. Excluding the items shown in the non-GAAP reconciliation table below, adjusted net loss for the first quarter of fiscal 2027 was $1.8 million, or a loss per share of $0.04. This compares to an adjusted net loss during the fiscal first quarter of 2026 of $4.2 million, or a loss per share of $0.10. Adjusted EBITDA in the first quarter of fiscal 2027, excluding the items shown in the non-GAAP reconciliation table below, was $5.0 million, compared to $2.2 million in the first quarter of fiscal 2026. Tariff-related expenses were $0.9 million during the quarter, compared to $1.7 million for the prior year quarter, in line with the Company's expectations. Additionally, the Company received $1.2 million of tariff refunds during the quarter, resulting in net tariff benefit of $0.4 million. In the first quarter of fiscal 2027, the Company used $15.3 million of cash from operations, compared to $15.9 million in the first quarter of fiscal 2026. At August 31, 2026, the Company had $34.0 million in cash and maintains a debt-free balance sheet. CEO Update The Company announced earlier today that Eric Honroth has been appointed President and Chief Executive Officer, effective November 2, 2026, succeeding Jim Clemmer. The appointment follows a comprehensive search process led by the Board of Directors. Mr. Clemmer, who announced his intention to retire after ten years leading the Company, will remain with AngioDynamics as an executive advisor to support a smooth transition. Additional information is available in the Company's separate press release announcing the appointment. FDA IDE Approval for RELIEF BPH Study 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. Fiscal Year 2027 Financial Guidance Based on its first quarter performance and current outlook for the remainder of the fiscal year, the Company is reiterating its previously issued fiscal year 2027 guidance, as outlined below. Guidance Metric | Guidance(As of October 8, 2026) Net Sales | $336.0M - $341.0M Med Tech Net Sales Growth | 12% – 15% Med Device Net Sales Growth | Flat Gross Margin | 54% – 55% Adjusted EBITDA | $13.0M - $16.0M Adjusted EPS | ($0.29) – ($0.24) | Tariff Related Guidance Assumptions For fiscal 2027, the Company expects a tariff impact broadly similar to fiscal 2026, (excluding any tariff refunds) 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 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. ANGIODYNAMICS, INC. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS (in thousands, except per share data) | Three Months Ended | Aug 31, 2026 | | Aug 31, 2025 | (unaudited) | | (unaudited) | | | Net sales | $ | 80,915 | | | $ | 75,711 | Cost of sales (exclusive of intangible amortization) | | 32,875 | | | | 33,854 | Gross margin | | 48,040 | | | | 41,857 | % of net sales | | 59.4 | % | | | 55.3 | % | | | Operating expenses | | | Research and development | | 7,979 | | | | 6,417 | Sales and marketing | | 29,986 | | | | 28,130 | General and administrative | | 12,467 | | | | 12,555 | Amortization of intangibles | | 2,729 | | | | 2,653 | Acquisition, restructuring and other items, net | | 2,181 | | | | 2,758 | Total operating expenses | | 55,342 | | | | 52,513 | Operating loss | | (7,302 | ) | | | (10,656 | ) Interest expense, net | | (88 | ) | | | (4 | ) Other income (expense), net | | 94 | | | | (178 | ) Total other income (expense), net | | 6 | | | | (182 | ) Loss before income tax (benefit) expense | | (7,296 | ) | | | (10,838 | ) Income tax (benefit) expense | | (199 | ) | | | 65 | Net loss | $ | (7,097 | ) | | $ | (10,903 | ) | | | Loss per share | | | Basic | $ | (0.17 | ) | | $ | (0.26 | ) Diluted | $ | (0.17 | ) | | $ | (0.26 | ) | | | Weighted average shares outstanding | | | Basic | | 42,022 | | | | 41,174 | Diluted | | 42,022 | | | | 41,174 | | | | | | | | ANGIODYNAMICS, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION (in thousands, except per share data) Reconciliation of Net Loss to non-GAAP Adjusted Net Loss: | | Three Months Ended | Aug 31, 2026 | | Aug 31, 2025 | (unaudited) | | (unaudited) | | | Net loss | $ | (7,097 | ) | | $ | (10,903 | ) | | | Amortization of intangibles | | 2,729 | | | | 2,653 | Acquisition, restructuring and other items, net (1) | | 2,181 | | | | 2,758 | Tax effect of non-GAAP items (2) | | 350 | | | | 1,313 | Adjusted net loss | $ | (1,837 | ) | | $ | (4,179 | ) | | | Reconciliation of Diluted Loss Per Share to non-GAAP Adjusted Diluted Loss Per Share: | | Three Months Ended | Aug 31, 2026 | | Aug 31, 2025 | (unaudited) | | (unaudited) | | | Diluted loss per share | $ | (0.17 | ) | | $ | (0.26 | ) | | | Amortization of intangibles | | 0.06 | | | | 0.06 | Acquisition, restructuring and other items, net (1) | | 0.05 | | | | 0.07 | Tax effect of non-GAAP items (2) | | 0.02 | | | | 0.03 | Adjusted diluted loss per share | $ | (0.04 | ) | | $ | (0.10 | ) | | | Adjusted diluted sharecount (3) | | 42,022 | | | | 41,174 | (1) Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items. (2) Adjustment to reflect the income tax provision on a non-GAAP basis has been calculated assuming no valuation allowance on the Company's U.S. deferred tax assets and an effective tax rate of 23% for the periods ended August 31, 2026 and 2025. (3) Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP loss. ANGIODYNAMICS, INC. AND SUBSIDIARIES GAAP TO NON-GAAP RECONCILIATION (Continued) (in thousands, except per share data) Reconciliation of Net Loss to Adjusted EBITDA: | | Three Months Ended | Aug 31, 2026 | | Aug 31, 2025 | (unaudited) | | (unaudited) | | | Net loss | $ | (7,097 | ) | | $ | (10,903 | ) | | | Income tax (benefit) expense | | (199 | ) | | | 65 | Interest expense, net | | 88 | | | | 4 | Depreciation and amortization | | 5,498 | | | | 5,950 | Stock based compensation | | 4,502 | | | | 4,470 | Acquisition, restructuring and other items, net (1) | | 2,181 | | | | 2,574 | Adjusted EBITDA | $ | 4,973 | | | $ | 2,160 | | | | (1) Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items. ANGIODYNAMICS, INC. AND SUBSIDIARIES ACQUISITION, RESTRUCTURING, AND OTHER ITEMS, NET DETAIL (in thousands) | | | Three Months Ended | Aug 31, 2026 | | Aug 31, 2025 | (unaudited) | | (unaudited) Legal (1) | $ | 406 | | $ | 213 | Plant closure (2) | | 617 | | | 2,345 | Transition service agreement (3) | | — | | | (302 | ) CEO transition (4) | | 770 | | | — | Other | | 388 | | | 502 | Total | $ | 2,181 | | $ | 2,758 | | | | | | | (1) Legal expenses related to litigation that is outside the normal course of business. (2) Plant closure expense, related to the restructuring of our manufacturing footprint which was announced on January 5, 2024. (3) Transition services agreements that were entered into with Merit and Spectrum. (4) CEO retirement and transition expenses related to the CEO search and retention agreements with the Company's executive leadership team. ANGIODYNAMICS, INC. AND SUBSIDIARIES NET SALES BY PRODUCT CATEGORY AND BY GEOGRAPHY (in thousands) | | | | | | | Three Months Ended | | | Aug 31, 2026 | | Aug 31, 2025 | | % Growth | (unaudited) | | (unaudited) | | Net Sales | | | | | Med Tech | $ | 39,916 | | $ | 35,261 | | 13.2% Med Device | | 40,999 | | | 40,450 | | 1.4% | $ | 80,915 | | $ | 75,711 | | 6.9% | | | | | Net Sales | | | | | United States | $ | 71,068 | | $ | 66,456 | | 6.9% International | | 9,847 | | | 9,255 | | 6.4% | $ | 80,915 | | $ | 75,711 | | 6.9% | | | | | GROSS MARGIN BY PRODUCT CATEGORY (in thousands) | | | | | | | Three Months Ended | | | Aug 31, 2026 | | Aug 31, 2025 | | % Change | (unaudited) | | (unaudited) | | Med Tech | $ | 26,424 | | | $ | 21,922 | | | 20.5% Gross margin % of sales | | 66.2 | % | | | 62.2 | % | | | | | | | Med Device | $ | 21,616 | | | $ | 19,935 | | | 8.4% Gross margin % of sales | | 52.7 | % | | | 49.3 | % | | | | | | | Total | $ | 48,040 | | | $ | 41,857 | | | 14.8% Gross margin % of sales | | 59.4 | % | | | 55.3 | % | | | | | | | | | | | ANGIODYNAMICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands) | | | | | | | Aug 31, 2026 | | May 31, 2026 | (unaudited) | | (audited) Assets | | | Current assets: | | | Cash | $ | 33,973 | | $ | 53,864 Accounts receivable, net | | 44,905 | | | 48,325 Inventories | | 54,953 | | | 52,436 Prepaid expenses and other | | 9,172 | | | 8,769 Total current assets | | 143,003 | | | 163,394 Property, plant and equipment, net | | 27,728 | | | 27,097 Other assets | | 9,308 | | | 9,463 Intangible assets, net | | 61,894 | | | 67,209 Total assets | $ | 241,933 | | $ | 267,163 Liabilities and stockholders' equity | | | Current liabilities: | | | Accounts payable | $ | 26,579 | | $ | 31,513 Accrued liabilities | | 28,811 | | | 38,909 Other current liabilities | | 4,299 | | | 4,295 Total current liabilities | | 59,689 | | | 74,717 Deferred income taxes | | 4,680 | | | 5,316 Other long-term liabilities | | 13,601 | | | 16,305 Total liabilities | | 77,970 | | | 96,338 Stockholders' equity | | 163,963 | | | 170,825 Total Liabilities and Stockholders' Equity | $ | 241,933 | | $ | 267,163 | | | | | ANGIODYNAMICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) | | | Three Months Ended | Aug 31, 2026 | | Aug 31, 2025 | (unaudited) | | (unaudited) Cash flows from operating activities: | | | Net loss | $ | (7,097 | ) | | $ | (10,903 | ) Adjustments to reconcile net loss to net cash used in operating activities: | | | Depreciation and amortization | | 5,498 | | | | 5,950 | Non-cash lease expense | | 366 | | | | 445 | Non-cash interest expense | | 72 | | | | 70 | Stock based compensation | | 4,502 | | | | 4,470 | Deferred income taxes | | (306 | ) | | | (16 | ) Change in accounts receivable allowances | | (57 | ) | | | 108 | Fixed and intangible asset disposals | | 81 | | | | (27 | ) Other | | (707 | ) | | | 264 | Changes in operating assets and liabilities: | | | Accounts receivable | | 3,471 | | | | 139 | Inventories | | (2,715 | ) | | | (192 | ) Prepaid expenses and other | | (1,019 | ) | | | (5,525 | ) Accounts payable, accrued and other liabilities | | (17,419 | ) | | | (10,697 | ) Net cash used in operating activities | | (15,330 | ) | | | (15,914 | ) Cash flows from investing activities: | | | Additions to property, plant and equipment | | (379 | ) | | | (731 | ) Additions to placement and evaluation units | | (2,769 | ) | | | (820 | ) Net cash used in investing activities | | (3,148 | ) | | | (1,551 | ) Cash flows from financing activities: | | | Principal payments on finance arrangements | | (99 | ) | | | (91 | ) Proceeds (outlays) from issuances of shares of common stock | | (1,276 | ) | | | 234 | Net cash (used in) provided by financing activities | | (1,375 | ) | | | 143 | Effect of exchange rate changes on cash and cash equivalents | | (38 | ) | | | 191 | Decrease in cash | | (19,891 | ) | | | (17,131 | ) Cash at beginning of period | | 53,864 | | | | 55,893 | Cash at end of period | $ | 33,973 | | | $ | 38,762 | View source version on businesswire.com: https://www.businesswire.com/news/home/20261008553619/en/ Contacts Investors: Stephen Trowbridge Executive Vice President & CFO 518-795-1408 [email protected] Media: Saleem Cheeks Vice President, Communications 518-795-1174 [email protected]

This article first appeared on GuruFocus. - Total Revenue: $80.9 million, up 6.9% year over year. - MedTech Revenue: $39.9 million, up 13.2% year over year; 49% of total revenue vs. 47% a year ago. - Med Device Revenue: $41 million, up 1.4% year over year. - Auryon Revenue: $18.9 million, up 14.7% year over year; 21st consecutive quarter of double-digit growth. - Mechanical Thrombectomy Revenue (AngioVac + AlphaVac): $12 million combined, up 6.7% year over year. - AlphaVac Revenue: $4.5 million, up 37.4% year over year and 6.4% sequentially. - AngioVac Revenue: $7.5 million, down 5.9% year over year but up 9.1% sequentially. - NanoKnife Revenue: $8.3 million, up 29% year over year; probes up 24.1%, capital sales up 53.5%. - Gross Margin: 59.4%, up 410 basis points year over year; 57.8% excluding tariff refund benefit. - Total Operating Expenses: $55.3 million, or 68.4% of sales, vs. $52.5 million, or 69.4% of sales, a year ago. - R&D Expense: $8 million, or 9.9% of sales, vs. $6.4 million, or 8.5% of sales, a year ago. - SG&A Expense: $42.5 million, or 52.5% of sales, vs. $40.7 million, or 53.7% of sales, a year ago. - GAAP Net Loss: $7.1 million, or $0.17 loss per share, vs. $10.9 million, or $0.26 loss per share, a year ago. - Adjusted Net Loss: $1.8 million, or $0.04 adjusted loss per share, vs. $4.2 million, or $0.10 adjusted loss per share, a year ago. - Adjusted EBITDA: $5 million, vs. $2.2 million a year ago. - Tariffs: $0.9 million in tariff-related expenses vs. $1.7 million a year ago; $1.2 million in tariff refunds received, net benefit of ~$400,000. - Cash Flow from Operations: $15.3 million used in the quarter; on track for positive full-year operating cash flow. - Cash Balance: $34 million; debt-free balance sheet. - FY27 Guidance Net Sales: $336 million to $341 million, representing 5% to 6.5% growth over FY26 revenue of $320.2 million. - FY27 Guidance MedTech Net Sales: 12% to 15% year-over-year growth; Med Device roughly flat. - FY27 Guidance Gross Margin: 54% to 55%. - FY27 Guidance Adjusted EBITDA: $13 million to $16 million. - FY27 Guidance Adjusted Loss Per Share: $0.29 to $0.24. - Warning! GuruFocus has detected 4 Warning Signs with ANGO. - Is ANGO fairly valued? Test your thesis with our free DCF calculator. Release Date: October 08, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. - Total revenue grew 6.9% to $80.9 million, with MedTech segment growing 13.2% and now representing 49% of total revenue. - Auryon achieved its 21st consecutive quarter of double-digit year-over-year growth, with revenue up 14.7% to $18.9 million. - AlphaVac revenue increased 37.4% year-over-year to $4.5 million, driven by strong adoption and commercial execution. - NanoKnife revenue grew 29% year-over-year to $8.3 million, with record procedure volumes and positive reimbursement developments. - Gross margin improved 410 basis points to 59.4%, driven by favorable pricing and revenue mix shift toward higher-margin MedTech products. - AngioVac revenue declined 5.9% year-over-year to $7.5 million, facing tougher comparisons. - Med Device segment grew only 1.4% year-over-year, with flat growth expected for the full fiscal year. - Company reported a GAAP net loss of $7.1 million and an adjusted net loss of $1.8 million in the quarter. - Cash used in operations was $15.3 million in Q1, though this is expected to be the highest utilization quarter. - Tariff-related expenses of $0.9 million continue to impact costs, and future tariff refunds are uncertain. Q: On NanoKnife, once equipment is placed, what is the timeline to scaling to a higher utilization rate, and when will these systems contribute to the disposables business?A: CFO Stephen Trowbridge explained that while capital placement is a good indicator, disposable growth is the better metric to watch. The company uses various placement models to ensure capital access isn't a barrier for urologists. He noted that utilization will vary by system and region, largely depending on local reimbursement progress, but the trajectory since receiving the CPT I code and the Palmetto MAC decision has been very positive. Q: Can you provide an update on the commercial enhancements in the mechanical thrombectomy business and whether they drove growth this quarter?A: CFO Stephen Trowbridge stated that the company expects continued growth in mechanical thrombectomy, driven primarily by AlphaVac, while AngioVac is expected to see single-digit growth. He confirmed that contributions from recent commercial organization changes are being seen and will continue. He also highlighted the AlphaReturn IDE trial's strong enrollment as a key catalyst for future growth. Q: What were the drivers behind the sequential decline in NanoKnife disposables, and how do sell-in trends compare to sell-through?A: CFO Stephen Trowbridge attributed the sequential decline to seasonality, noting that Q4 is typically the highest quarter, followed by a slight dip in Q1. He emphasized that procedure volumes for prostate treatments hit record levels in Q1, indicating strong sell-through. He explained the company sells ahead of the curve to ensure product availability, and the underlying procedure growth remains very exciting. Q: Regarding the RELIEF study for BPH, what does the program need to demonstrate to justify a larger investment, and would it fit within the existing R&D framework?A: CFO Stephen Trowbridge shared that the RELIEF study is an early-stage opportunity to understand how NanoKnife impacts BPH tissue, with durability being a key long-term question. He confirmed that the BPH program is not expected to dramatically change the P&L and can be accommodated within the company's target of allocating approximately 10% of sales to R&D. Q: How has the shift of peripheral cases to office-based labs (OBLs) changed your go-to-market strategy for Auryon, and do OBL customers behave differently than hospitals?A: CEO James Clemmer explained that AngioDynamics initially built the Auryon business around OBLs due to COVID-19 hospital closures, gaining deep experience in that setting. While clinical needs are similar, the economics differ. He noted the company has since successfully shifted focus to also grow in hospitals, aiming for a balanced approach across both settings, where Auryon's versatility is a key competitive advantage. Q: Who is currently adopting NanoKnife? Is it mostly academic centers, or are you seeing community urologists adopt it as well?A: CFO Stephen Trowbridge clarified that the primary driver for NanoKnife now is prostate cancer treatment by urologists, a market not concentrated in university settings. This shift to regional hospitals presents a larger business opportunity. He noted that adoption is driven by patient outcomes, access to capital through various placement models, and improving reimbursement coverage. Q: Can you discuss the cash usage in the quarter and how we should think about cash generation for the rest of the fiscal year?A: CFO Stephen Trowbridge explained that Q1 is always the largest cash utilization quarter due to payments like incentive compensation and tariffs. He expects this historical cadence to continue, with Q2 and Q3 being relatively flat and Q4 being the largest cash generation quarter. He reaffirmed the company's expectation to generate positive cash flow from operations for the full fiscal year. Q: What drove the gross margin increase this quarter beyond the tariff benefit, and is the Costa Rica manufacturing transition fully contributing?A: CFO Stephen Trowbridge stated that the underlying gross margin trajectory is strong, driven by favorable pricing and the ongoing mix shift toward higher-margin MedTech products. He confirmed that the benefits from the Costa Rica manufacturing transition are now being realized and will be a catalyst moving forward. He advised viewing the 57.8% margin (excluding tariff refunds) as a better baseline. Q: On mechanical thrombectomy, can you provide color on new account openings and if you're taking advantage of competitor disruptions?A: CEO James Clemmer said the company tracks new business through competitive conversions, new physician users, and hospital value analysis approvals, all of which are trending positively. He noted that newly added sales force members are now trained and contributing. While aware of competitor disruptions, he emphasized the company's focus is on being the best AngioDynamics it can be and winning on its own merits. Q: Can you provide an update on the leadership transition and the appointment of the new CEO?A: CEO James Clemmer announced that Eric Honroth will join as President and CEO effective November 2. Mr. Honroth brings over 20 years of leadership experience in medical devices, most recently as Global President, Life Science at Getinge. Mr. Clemmer expressed full confidence in Mr. Honroth's ability to build upon the company's foundation and stated he will remain involved to ensure a smooth transition. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

AngioDynamics Inc. (NASDAQ:ANGO) shares declined 4.26% in pre-market trading after the medical technology company reported first-quarter fiscal 2027 results that exceeded analysts' expectations, supported by continued growth in its Med Tech business and improving profitability. The company reported an adjusted loss of $0.04 per share, narrower than the Wall Street consensus estimate of a loss of $0.11 per share. Quarterly revenue reached $80.9 million, slightly above analysts' expectations of $80.5 million, representing a 6.9% increase from the corresponding period a year earlier. The revenue improvement was primarily driven by the Med Tech segment, which recorded 13.2% year-on-year growth to $39.9 million. This marked the eighth consecutive quarter in which the division achieved double-digit revenue growth, reflecting sustained demand for its specialised medical technologies. Meanwhile, the Med Device segment generated revenue of $41.0 million, an increase of 1.4% compared with the prior-year quarter. AngioDynamics also reported an improvement in gross profitability, with its gross margin expanding by 410 basis points to 59.4%. However, the company noted that the margin increase included a benefit from tariff refunds received during the quarter. The Med Tech division continued to lead AngioDynamics' performance, with growth across its Auryon, Mechanical Thrombectomy and NanoKnife product lines. Auryon, the company's atherectomy technology platform, generated revenue of $18.9 million, representing a 14.7% increase year on year. The product line recorded its 21st consecutive quarter of double-digit growth in atherectomy sales. Mechanical Thrombectomy revenue increased 6.7% to $12.0 million, reflecting continued demand for the company's clot-removal technologies. NanoKnife delivered the strongest percentage growth among the three product categories, with sales rising 29.0% to $8.3 million. The increase was supported by demand for prostate procedures using the company's oncology technology. President and Chief Executive Officer Jim Clemmer attributed the quarterly performance to consistent execution across the business. "Our first quarter results reflect the continued, consistent execution we've built into this business," Clemmer said. "Med Tech again led our growth, highlighted by Auryon's 21st consecutive quarter of double-digit atherectomy growth, continued performance in Mechanical Thrombectomy, and ongoing strength in our NanoKnife oncology platform." The results demonstrated the importance of the company's higher-growth Med Tech portfolio in supporting overall revenue expansion. AngioDynamics reported a net loss under generally accepted accounting principles (GAAP) of $7.1 million, equivalent to $0.17 per share. This compared with a GAAP net loss of $10.9 million, or $0.26 per share, in the corresponding quarter of fiscal 2026. The reduction in losses reflected an improvement in the company's financial performance alongside higher revenue. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to $5.0 million from $2.2 million a year earlier. The improvement in adjusted EBITDA indicated stronger operating profitability, although the reported gross margin benefited partly from the tariff refunds. The company continues to focus on expanding its Med Tech business while managing costs across its broader product portfolio. Despite the decline in its share price, AngioDynamics maintained its financial guidance for fiscal 2027. The company continues to expect full-year revenue of between $336 million and $341 million. The midpoint of the guidance range, $338.5 million, is slightly above the analyst consensus estimate of $337.32 million. AngioDynamics also reaffirmed its adjusted earnings outlook, forecasting a loss of between $0.29 and $0.24 per share for the full year. The midpoint of this range represents an expected adjusted loss of approximately $0.265 per share. The unchanged guidance suggests that management's expectations for the remainder of the financial year remain consistent with its previous outlook. Investors will be monitoring whether continued growth in the Med Tech segment can support further improvements in margins and operating profitability. Alongside its quarterly financial results, AngioDynamics announced a leadership transition scheduled for 2 November 2026. Eric Honroth will become President and Chief Executive Officer, succeeding Jim Clemmer, who is retiring after ten years with the company. The appointment marks a change in leadership as AngioDynamics continues developing its Med Tech portfolio and pursuing its fiscal 2027 financial objectives. The company enters the transition following another quarter of double-digit Med Tech growth, improving adjusted EBITDA and a narrower net loss. Although its financial results exceeded market expectations, AngioDynamics shares moved lower in pre-market trading as investors assessed the quarterly performance, the contribution of tariff refunds to margins and the company's unchanged full-year outlook. AngioDynamics stock price

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. - The company is successfully executing a multi-year transformation, with the MedTech segment now representing 49% of total revenue and growing 13.2% year-over-year. - Auryon achieved its 21st consecutive quarter of double-digit growth, driven by a strategic shift toward hospital settings while maintaining strong performance in office-based laboratories. - Mechanical thrombectomy growth is attributed to product versatility and commercial team execution, allowing the company to capture market share from competitors despite a tough year-over-year comparison for AngioVac. - NanoKnife is transitioning into a primary tool for prostate care, with record procedure volumes and significant capital sales growth signaling increased physician adoption. - The MedDevice segment grew 1.4%, serving its strategic role as a steady cash flow generator to fund high-growth MedTech platform investments. - Gross margin expansion of 410 basis points was primarily driven by favorable pricing and the ongoing revenue mix shift toward higher-margin MedTech products. - Management announced the appointment of Eric Honer as the new President and CEO, effective November 2, following a comprehensive search for Jim Clemmer's successor. - Full-year revenue guidance of $336 million to $341 million assumes MedTech growth of 12% to 15% and flat performance in the MedDevice segment. - Management expects the MedTech segment to comprise the majority of total company revenue during the current fiscal year. - Future growth is dependent on clinical milestones, including the AlphaReturn blood management system IDE trial and the AMBITION BTK study for Auryon. - The company is targeting consistent nationwide reimbursement for NanoKnife by working with additional regional Medicare Administrative Contractors following recent positive coverage decisions. - Fiscal 2027 gross margin guidance of 54% to 55% accounts for a manufacturing transition and global inflation, with higher margins expected in the first half of the year. - Gross margins benefited from $1.2 million in tariff refunds during the quarter; excluding this, the adjusted gross margin was 57.8%. - The company received FDA approval for the RELIEF study, evaluating NanoKnife for BPH, representing a potential $1.9 billion market opportunity. - Management noted that capital sales for NanoKnife are inherently 'lumpy' and the high growth rate seen this quarter is not expected to be sustained consistently. - The company remains debt-free and expects to generate positive cash flow from operations for the full fiscal year despite typical high cash usage in Q1. - Management views disposable sales as the true bellwether for the business, noting that record procedure volumes were achieved in Q1. - Capital placements are facilitated through various models to ensure urologists have access without capital being a 'governor' on adoption. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. - Growth is being driven by recent commercial organization changes and physician enthusiasm for product versatility in pulmonary embolism (PE) cases. - The AlphaReturn project is expected to reach 'on label' status in early calendar year 2027, removing a key market hurdle. - Management clarified that Q1 typically sees a sequential dip from Q4 due to med-device seasonality, but underlying procedure volumes actually increased sequentially. - Q3 is structurally the softest quarter due to the December-February timeframe. - Underlying margin trajectory is strong due to price increases in the MedDevice segment and the mix shift toward MedTech. - Cost savings from the Costa Rica manufacturing transition are already being realized and are factored into the current baseline. - The RELIEF study is an early-stage pilot to understand tissue impact and build a business case for BPH as a long-term platform opportunity. - Future R&D spending is expected to remain around 10% of sales, which management believes is sufficient to fund these platform expansions.