ANGO — AngioDynamics, Inc.

Summary of AngioDynamics Q3 2026 Earnings Call

1. Key Financial Results and Metrics

• Revenue: Increased by 8.9% year-over-year to $78.4 million.
  • Med Tech Segment: Revenue of $37.3 million, up 19%.
  • Med Device Segment: Revenue increased by 1.1% year-over-year.
• Adjusted EBITDA: Improved to $1.8 million from $1.3 million in Q3 2025.
• Gross Margin: 52.9%, a slight decline of 110 basis points from the previous year, attributed to tariffs and inflation.
• Adjusted Net Loss: $3 million, or $0.07 per share, compared to a loss of $3.1 million, or $0.08 per share, in the same quarter last year.
• Cash Position: $37.8 million, down from $41.6 million in the previous quarter.

2. Strategic Updates and Business Highlights

• Med Tech Growth: Continued strong performance with Auryon achieving 19 consecutive quarters of double-digit growth. The company is expanding its presence in hospitals and leveraging superior technology.
• Mechanical Thrombectomy: Combined revenue from AlphaVac and AngioVac grew approximately 18%. AlphaVac saw a notable sequential revenue increase and strong adoption from new accounts.
• NanoKnife: Revenue increased by 21%, driven by strong demand in prostate care and expanded European indications.
• Leadership Transition: The Board has initiated a search for a new CEO, with current leadership committed to a smooth transition.

3. Forward Guidance and Outlook

• Revised Full-Year Guidance:
  • Expected net sales range raised to $313.5 million to $315.5 million (up from $312 million to $314 million).
  • Adjusted EBITDA guidance increased to $10 million to $12 million (up from $8 million to $10 million).
  • Anticipated adjusted loss per share improved to a range of $0.30 to $0.23.
• Cash Flow: Expected to be slightly negative due to inventory buildup in response to sterilization vendor shutdowns, but the company remains on track for positive cash generation in the long term.

4. Bad News, Challenges, or Points of Concern

• Gross Margin Pressure: The decline in gross margin is a concern, driven by tariffs and inflationary pressures.
• Tariff Costs: The company anticipates incurring $4 million to $6 million in tariff expenses for FY 2026, which could impact profitability.
• Supply Chain Risks: Although not significantly exposed to China, rising costs and inflation present ongoing challenges.
• Sterilization Shutdowns: Temporary shutdowns by sterilization vendors may disrupt operations and cash flow in the short term.

5. Notable Q&A Insights

• AlphaVac Growth: Management expects continued sequential growth for AlphaVac, driven by increased physician adoption and hospital approvals.
• Cost Management: The company has embedded expectations for inflation and energy costs into its guidance, with some ability to pass on price increases to customers.
• Supply Chain Stability: The company does not currently view sourcing from China as a significant risk and is managing potential disruptions effectively.
• Sterilization Shutdowns: These are not expected to be a regular occurrence, and the company is proactively managing inventory to mitigate potential impacts.

Overall, AngioDynamics reported a strong quarter with significant growth in its Med Tech segment, while also navigating challenges related to tariffs, inflation, and supply chain disruptions. The company remains optimistic about its future growth trajectory and is strategically positioned to capitalize on market opportunities.