Full Press Release Details
AngioDynamics Reports Fiscal Year 2026 Second Quarter Financial Results; Continued Double Digit Med Tech Growth Drives Increased Profitability
LATHAM, N.Y.--(BUSINESS WIRE)- Jan. 6, 2026-- 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 second quarter of fiscal year 2026, which ended November 30, 2025.
Fiscal Year 2026 Second Quarter Highlights
| Quarter Ended November 30, 2025 | Pro Forma* YoY Growth | ||
| Net Sales | $79.4 million | 8.8% | |
| Med Tech Net Sales | $35.7 million | 13.0% | |
| Med Device Net Sales | $43.8 million | 5.6% |
*Pro forma results exclude the Dialysis and BioSentry businesses divested in June 2023 and the PICC, Midline and tip location product portfolios divested
in February 2024, as well as the discontinued Radiofrequency and Syntrax support catheter products in February 2024.
"We delivered an excellent second quarter, with continued strong Med Tech growth
driving our overall performance," commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. "Across our Med Tech portfolio, we're seeing the benefits of our strategic transformation as our innovative platform technologies,
from Auryon to Mechanical Thrombectomy to NanoKnife, continue taking share in large, attractive markets. The momentum across our technology platforms demonstrates the strength of our diversified Med Tech portfolio. We will continue to invest in the long-term growth of our Med Tech portfolio. During the quarter, we advanced several important initiatives, including securing FDA approval on the IDE for right-sided
endocarditis and the AlphaVac line extension. In addition, we received FDA IDE approval for our AlphaVac blood return study, an important milestone as we expand our portfolio of best-in-class solutions for physicians treating acute pulmonary
Mr. Clemmer continued, "Importantly, our strong top-line growth, combined with disciplined execution of our operating initiatives, translated into
another quarter of positive adjusted EBITDA and cash generation. With our differentiated technology portfolio, proven commercial execution, and strong balance sheet, we remain confident in delivering sustained, profitable growth throughout the year."
Fiscal Year 2026 Second Quarter Financial Results
Unless otherwise noted, all financial comparisons below are presented on a pro forma basis excluding the Dialysis and BioSentry businesses divested
in June 2023, the PICC, Midline, and tip location product portfolios divested in February 2024, and the RadioFrequency and Syntrax support catheter products discontinued in February 2024.
Net sales for the second quarter of fiscal year 2026 were $79.4 million, an increase of 8.8% compared to the prior-year quarter.
Med Tech net sales were $35.7 million, a 13.0% increase from $31.6 million in the prior-year period. Med Tech includes the Auryon peripheral
atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform.
Growth during the quarter was driven by solid performance across the Med Tech segment. Auryon sales were $16.3 million an increase of 18.6%, our
Mechanical Thrombectomy business, which includes AngioVac and AlphaVac, delivered sales of $11.0 million, an increase of 3.9%, and NanoKnife sales were $7.3 million, an increase of 22.2%, including 14.4% growth in probes.
Med Device net sales were $43.8 million, a 5.6% increase compared to $41.5 million in the prior-year period.
Gross margin for the second quarter of fiscal 2026 was 56.4%, which was 170 basis points higher compared to the second quarter of fiscal 2025, and
110 basis points higher sequentially from 55.3% in the first quarter of fiscal 2026. The year-over-year improvement was driven by continued product mix shift toward Med Tech sales, accelerated benefits from the Company's manufacturing transfer
initiatives, and our transition from a direct sales model to a distributor model in France that included the sale of existing Company owned capital units to a new distributor in the quarter.
The Company recorded a GAAP net loss of $6.4 million, or a loss per share of $0.15, in the second quarter of fiscal 2026. Excluding the items shown
in the non-GAAP reconciliation table below, adjusted net loss for the second quarter of fiscal 2026 was $0.1 million, or a loss per share of $0.00. This compares to an adjusted net loss during the fiscal second quarter of 2025 of $1.7 million, or a
loss per share of $0.04.
Adjusted EBITDA in the second quarter of fiscal 2026, excluding the items shown in the non-GAAP reconciliation table below, was $5.9 million,
compared to $3.1 million in the second quarter of fiscal 2025.
In the second quarter of fiscal 2026, the Company generated $4.7 million of cash, ahead of the company's expectations. The Company continues to
expect to be cash flow positive for the full year fiscal 2026.
At November 30, 2025, the Company had $41.6 million in cash and cash equivalents compared to $38.8 million in cash and cash equivalents at August
31, 2025. The Company maintains a debt-free balance sheet.
FDA IDE Approval for APEX-Return Study
During the quarter, the Company announced that the FDA approved its IDE application for its APEX-Return study. The pivotal study will evaluate the
safety and effectiveness of the AlphaReturn Blood Management System when used with the AlphaVac F1885 Multipurpose Mechanical Aspiration (MMA) System in the treatment of acute pulmonary embolism (PE). The APEX-Return study will enroll up
to 40 patients across multiple sites and will assess key safety and effectiveness endpoints, including device-related adverse events and procedural outcomes. The AlphaReturn Blood Management System addresses market feedback by enabling the
collection, filtration and reinfusion of aspirated blood during thrombectomy procedures, which may reduce the need for blood transfusions.
FDA IDE Approval for PAVE Clinical Study
During the quarter, the Company announced that the FDA approved its Investigational Device Exemption (IDE) application for the PAVE clinical study.
The PAVE (Percutaneous AngioVac Vegetation Extraction) pilot trial will evaluate the Company's AngioVac System for the percutaneous removal of vegetation from the right heart in patients with right-sided infective endocarditis (RSIE). The study is
intended to assess whether a minimally invasive approach using the AngioVac System may provide an alternative option for this underserved patient population who have limited treatment options, particularly when surgical risk is high.
The PAVE study is a prospective, single-arm, multicenter feasibility trial that will enroll up to 30 patients with RSIE at up to six U.S. centers.
In August 2023, the AngioVac System received an FDA Breakthrough Device designation for the removal of right heart vegetation.
FDA 510(k) Clearance for Modified AlphaVac F1885 System
During the quarter, the Company received FDA 510(k) clearance for a modified AlphaVac F1885 System with expanded indications for use. The
clearance expands the cannula indication to allow aspiration and injection of contrast media and other fluids. The indication includes the sheath which is inserted in the vasculature, providing a conduit for the insertion of the AlphaVac
Cannula/Obturator and other endovascular devices while minimizing blood loss associated with such insertions. The modified system also features new packaging consisting of a die card enclosed within a Tyvek pouch, eliminating the use of plastic
Successful Conclusion of Previously Settled Patent Litigation With C.R. Bard
Following the quarter, AngioDynamics received notice that the U.S. Court of Appeals for the Federal Circuit affirmed the district court's judgment
invalidating Bard's patents related to power injectable port products. This decision concludes Bard's appeal and brings to a close litigation that AngioDynamics has successfully defended for more than a decade. The ruling confirms the district
court's findings of anticipation and eliminates any obligation for AngioDynamics to make the $3 million contingent payment under the settlement agreement.
Fiscal Year 2026 Financial Guidance
For fiscal year 2026 the company now expects:
| Guidance Metric | Guidance Action | Current Guidance (as of January 6, 2026) | Previous Guidance (as of October 2, 2025) |
| Net Sales | Increased | $312 - $314 million | $308 - $313 million |
| Med Tech Net Sales Growth | Unchanged | 14% - 16% | 14% - 16% |
| Med Device Net Sales Growth | Increased | 0% - 1% | Flat |
| Gross Margin | Unchanged | 53.5% - 55.5% | 53.5% - 55.5% |
| Adjusted EBITDA | Increased | $8.0 - $10.0 M | $6.0 - $10.0 million |
| Adjusted EPS | Unchanged | ($0.33) - ($0.23) | ($0.33) - ($0.23) |
| Free Cash Flow | Unchanged | Positive for full year FY 2026 | Positive for full year FY 2026 |
Tariff Related Guidance Assumptions
For the full fiscal year 2026, the company continues to expect a $4.0 - $6.0 million impact from tariffs, which are included in the above provided
All assumptions made related to expected tariff impacts are based on the Company's point of view on the current tariff situation, as of January 6,
2026. As the situation is fluid, these assumptions may change in the future.
Leadership Update; Jim Clemmer to Retire Upon Appointment of Successor
The Company also announced that Mr. Clemmer has informed the Board of Directors of his intention to retire from the Company upon the appointment of
a successor, which is anticipated to occur during fiscal 2027. The Board has established a search committee to conduct a comprehensive search, which will be assisted by a leading executive search firm, to identify the Company's next CEO. Until his
successor is appointed, Mr. Clemmer will continue as President and CEO, leading and overseeing the Company's strategic and financial initiatives with a focus on revenue growth and profitability.
"Jim has spearheaded our multi-year strategic transformation that reshaped our product portfolio, captured significant opportunities in the large,
global MedTech market, and delivered a substantially enhanced top-line growth profile for shareholders," said Howard Donnelly, AngioDynamics Chairman of the Board. "Jim's dedication to mentoring our people and cultivating a standard of excellence
ensures we have a strong foundation to pursue growth opportunities across the MedTech market through clinical development, and new products and indications that will enable us to help treat substantially more patients. We are grateful for Jim's
contributions and his commitment to a seamless transition and look forward to working together to identify our next leader who will drive continued success for our employees, customers, and shareholders."
"After ten years at AngioDynamics, I feel ready to move on to the next chapter of my life," said Mr. Clemmer. "Together, we have completed a
meaningful strategic transformation and built a strong foundation, developed an industry-leading product portfolio, and expanded operating capabilities. These strengths position the Company well to continue serving our customers while driving
profitable growth and long-term value creation. It has been an incredible honor to work alongside our extraordinary people to make differences in the lives of the many patients who have been touched by our products."
The Company's management will host a conference call at 8:00 a.m. ET the same day 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.
A recording of the call will also be available, until Tuesday, January 13, 2026 at 11:59 PM ET. To hear this recording, dial 1-844-512-2921
(domestic) or +1-412-317-6671 (international) and enter the passcode 13757614.
Use of Non-GAAP Measures
Management uses non-GAAP measures to establish operational goals and believes that non-GAAP measures may assist investors in analyzing the
underlying trends in AngioDynamics' business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news release,
AngioDynamics has reported pro forma results, adjusted EBITDA, adjusted net income and adjusted earnings per share. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures
provide investors with useful information in comparing AngioDynamics' performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics' underlying
business. Management encourages investors to review AngioDynamics' financial results prepared in accordance with GAAP to understand AngioDynamics' performance taking into account all relevant factors, including those that may only occur from time to
time but have a material impact on AngioDynamics' financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.
About AngioDynamics, Inc.
AngioDynamics is a leading and transformative medical technology company focused on restoring healthy blood flow in the body's vascular system,
expanding cancer treatment options and improving quality of life for patients.
The Company's innovative technologies and devices are chosen by talented physicians in fast-growing
healthcare markets to treat unmet patient needs. For more information, visit www.angiodynamics.com.
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, 2025. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.