AngioDynamics Reports Strong Fiscal Year 2025 Fourth Quarter and Full Year Financial Results; Continued Execution Driving Accelerated, Profitable Growth Med Tech franchise delivers third consecutive quarter of over 20% r

AngioDynamics Reports Strong Fiscal Year 2025 Fourth Quarter and Full Year Financial Results; Continued Execution Driving Accelerated, Profitable Growth

Med Tech franchise delivers third consecutive quarter of over 20% revenue growth

Reported strong adjusted EBITDA in the fourth quarter resulting in positive adjusted EBITDA for full fiscal year 2025

Drove $16.2 million of free cash flow in the quarter as a result of strong topline growth and operational efficiency

LATHAM, N.Y.--(BUSINESS WIRE)- July 15, 2025-- AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring

healthy blood flow in the body's vascular system, expanding cancer treatment options, and improving quality of life for patients, today announced financial results for the fourth quarter and fiscal year 2025, which ended May 31, 2025.

Fiscal Year 2025 Fourth Quarter Highlights

Fiscal Year 2025 Highlights

*Pro forma results exclude the Dialysis and BioSentry businesses divested in June 2023 and the PICC and Midline product portfolios divested in February

2024, as well as the discontinued Radiofrequency and Syntrax products in February 2024.

"Our strong fourth quarter performance capped off a landmark year at AngioDynamics. We continue to see the positive impacts of our

strategic transformation which has enabled us to deliver accelerating topline growth and continued profitability," said Jim Clemmer, President and Chief Executive Officer of AngioDynamics. "For the third quarter in a row, we posted MedTech growth

of over 20% as our unique, innovative platform technologies across both cardiology and interventional oncology continue to take share in highly competitive global markets. That growth, in combination with our operational efficiency efforts,

resulted in positive adjusted EBITDA and significant free cash flow despite experiencing some tariff-related headwinds."

"During fiscal 2025, we made significant strides across the organization as we seek to further simplify our business and focus on

penetrating large, fast-growing global MedTech markets. Throughout the year, we achieved key regulatory milestones, expanded into new geographies, generated high-quality clinical data, and secured critical reimbursement pathways. The breadth of

these accomplishments - from NanoKnife's FDA prostate indication and CPT Category I code to AlphaVac's successful commercial launch and Auryon's European expansion - reflects our ability to execute across multiple fronts simultaneously," continued

"We've fundamentally repositioned AngioDynamics as a profitable,

growth-oriented medical technology company with a portfolio now addressing over $10 billion in annual global market opportunities, up from just $3 billion in 2021. With our proven commercial momentum, multiple growth catalysts, and balance sheet

strength, we're exceptionally well-positioned for sustained value creation as we move into fiscal 2026," concluded Mr. Clemmer.

Fiscal Fourth Quarter 2025 Financial Results

Unless otherwise noted, all financial results below are presented on a pro forma basis excluding the Dialysis and BioSentry businesses

divested in June 2023, the PICC, Midline, and tip location product portfolios divested in February 2024, and the RadioFrequency and Syntrax support catheter products discontinued in February 2024.

Net sales for the fourth quarter of fiscal year 2025 were $80.2 million, an increase of 12.7% compared to the prior-year quarter.

Foreign currency translation did not have a significant impact on the Company's net sales in the quarter.

Med Tech net sales were $35.8 million, a 22.0% increase from $29.3

million in the prior-year period. Med Tech includes the Auryon peripheral atherectomy platform, the thrombus management platform, which includes the AlphaVac and AngioVac mechanical thrombectomy systems, and the NanoKnife irreversible electroporation platform.

Growth was driven by Auryon sales during the quarter of $15.6 million, which increased 19.7%, Mechanical Thrombectomy revenue, which

includes AngioVac and AlphaVac, of $11.3 million, an increase of 44.7%, and NanoKnife disposable sales of $5.7 million, which increased 5.5% compared to the fourth quarter of fiscal 2024.

Med Device net sales were $44.4 million, an increase of 6.2% compared to $41.8 million in the prior-year period.

U.S. net sales in the fourth quarter of fiscal 2025 were $67.5 million, an increase of 11.0% from $60.8 million a year ago.

International net sales were $12.7 million, an increase of 22.8%, compared to $10.3 million a year ago.

Gross margin for the fourth quarter of fiscal 2025 was 52.7%, which was down 161 basis points compared to the fourth quarter of fiscal

2024. Absent the $1.6 million tariff impact in the quarter, gross margin would have been 54.7%. Gross margin for the Med Tech business was 59.0%, a decrease of 510 basis points from the fourth quarter of fiscal 2024 primarily related to tariffs,

hardware depreciation, and product mix. Absent tariff impacts in the quarter, Med Tech gross margin would have been 62.1%. Gross margin for the Med Device business was 47.6%, an increase of 20 basis points compared to the fourth quarter of fiscal

2024. Absent tariff impacts in the quarter, Med Device gross margin would have been 48.8%.

The Company recorded a GAAP net loss of $6.1 million, or a loss per share of $0.15, in the fourth quarter of fiscal 2025. Excluding the

items show in the non-GAAP reconciliation table below, adjusted net loss for the fourth quarter of fiscal 2025 was $1.0 million, or a loss per share of $0.03. This compares to an adjusted net loss during the fiscal fourth quarter of 2024 of $2.2

million, or a loss per share of $0.05.

Adjusted EBITDA in the fourth quarter of fiscal 2025, excluding the items shown in the reconciliation table below, was $3.4 million,

compared to $1.5 million in the fourth quarter of fiscal 2024.

At May 31, 2025, the Company had $55.9M in cash and cash equivalents, inclusive of the payment of the final revenue performance-based

milestone payment of $5.0 million made as part of the Company's acquisition of Auryon in 2019, $1.6 million in tariff-driven COGS impacts, and fees associated with the Company's revolving credit facility.

Fourth Quarter 2025 Tariff Impacts

In the fiscal fourth quarter of 2025, the Company incurred limited revenue impacts because of tariff impacts. There was an approximate

$1.6 million of cost of goods sold impact stemming from certain product components which are manufactured outside of the United States, resulting in an approximate 204 basis point headwind. Following the announcement of tariffs, the Company

identified, and will continue to execute, strategies to mitigate the potential impacts and offset portions of tariff related impacts.

Full-Year 2025 Financial Results

Unless otherwise noted, all financial results below are presented on a pro forma basis excluding the Dialysis and BioSentry businesses

divested in June 2023, the PICC and Midline product portfolios divested in February 2024, and the RadioFrequency and Syntrax support catheter products discontinued in February 2024.

Net sales were $292.7 million, an increase of 8.1%, compared to $270.7 million for the prior year period.

Med Tech net sales were $126.7 million, a 19.5% increase from the prior year. Med Device net sales were $166.0 million, an increase of

0.8% from the prior year.

Gross margin increased 12 basis points to 53.9% from 53.8% in the prior year, with tariffs creating a 56-basis point headwind. Absent

tariff impacts, gross margin would have been 54.5%.

The Company's GAAP net loss was $34.0 million, or a loss per share of $0.83, compared to a net loss of $184.3 million, or a loss per

share of $4.59, a year ago.

Excluding the items shown in the non-GAAP reconciliation table below, adjusted net loss was $10.2 million, with adjusted loss per share

of $0.25, compared to adjusted net loss of $18.2 million, or adjusted loss per share of $0.45, a year ago.

Adjusted EBITDA, excluding the items shown in the reconciliation table below, was $7.6 million, compared to a loss of $3.2 million for

the prior year. Non-proforma adjusted EBITDA was $13.1 million, which includes the final $5.5 million milestone payment we received from Spectrum as part of the divestiture of our PICC and Midline business in February of 2024. This compares to $1.2

million for the prior year. During the fourth quarter of fiscal 2025, the Company entered into a revolving line of credit agreement ("the revolver") with J.P. Morgan, which allows the Company to draw down up to $25.0 million at its discretion. As

of July 15, 2025, the Company had not drawn down any of the available capital as part of the revolver agreement.

At May 31, 2025, the Company had $55.9 million in cash and cash equivalents, which was slightly ahead of previously stated expectations,

inclusive of the payment of the final revenue performance-based milestone payment of $5.0 million made as part of the Company's acquisition of Auryon in 2019, all fees paid as part of the Company's revolving line of credit agreement as well as the

impact of tariffs. This compares to cash and cash equivalents of $44.8 million at February 28, 2025.

Full Year 2025 Tariff Impacts

In the fiscal full year 2025, the Company incurred limited revenue impacts because of tariff impacts. There was an approximate $1.6

million of cost of goods sold impact stemming from certain product components which are manufactured outside of the United States, resulting in an approximate 56 basis point headwind.

Fiscal Year 2026 Financial Guidance

Tariff Related Guidance Assumptions

For the full fiscal year 2026, the company expects a $4.0 - $6.0 million impact from tariffs. For gross margin, pro forma adjusted

EBITDA, and adjusted EPS, the low end of the respective ranges assumes the highest level of tariff impact, with the high end of the respective ranges assuming the lowest level of tariff impact.

All assumptions made related to expected tariff impacts are based on the Company's point of view on the current tariff situation, as of

July 15, 2025. As the situation is fluid, these assumptions may change in the future.

The Company's management will host a conference call at 8:00 am 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.

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