Summary of AngioDynamics Q1 2026 Earnings Call

1Key Financial Results and Metrics

Revenue: Increased by 12.2% year-over-year to $75.7 million.

Med Tech Revenue: $35.3 million, up 26.1%.

Med Device Revenue: $40.4 million, up 2.3%.

Gross Margin: Improved to 55.3%, a 90-basis-point increase from the previous year.

Operating Expenses: Totaled $52.5 million, down to 69.4% of sales from 74% year-over-year.

Adjusted Net Loss: $4.2 million (loss per share of $0.10), an improvement from a loss of $4.4 million (loss per share of $0.11) in Q1 2025.

Adjusted EBITDA: $2.2 million, compared to an adjusted EBITDA loss of $152,000 in Q1 2025.

Cash Position: $38.8 million at the end of Q1, down from $55.9 million at the end of Q4 2025.

2Strategic Updates and Business Highlights

Continued strong performance in the Med Tech segment, particularly with the Auryon platform, which has shown 17 consecutive quarters of growth.

Mechanical Thrombectomy revenue grew over 40%, with AngioVac and AlphaVac seeing significant customer adoption.

NanoKnife revenue increased by 26.7%, driven largely by expanded indications for prostate treatment.

The company is focusing on expanding its hospital market presence and enhancing product offerings through R&D investments.

3Forward Guidance and Outlook

Revenue Guidance: Raised to $308 million to $313 million for FY 2026, reflecting a growth of 5% to 7% over FY 2025.

Med Tech sales expected to grow 14% to 16%, up from 12% to 15%.

Med Device sales anticipated to remain flat.

Gross Margin: Expected to range from 53.5% to 55.5%, including anticipated tariff impacts.

Adjusted EBITDA: Projected to be between $6 million and $10 million, improved from previous guidance.

Adjusted Loss per Share: Expected to range from $0.33 to $0.23, better than prior estimates.

4Bad News, Challenges, or Points of Concern

Tariff Expenses: Continued impact from tariffs, with an expected total of $4 million to $6 million for FY 2026.

Cash Utilization: Although cash utilization was better than expected, the company anticipates using approximately $3 million in Q2, with zero cash generation expected in Q3.

Market Competition: The company faces competitive pressures in the Mechanical Thrombectomy space, necessitating ongoing investment in sales and marketing.

5Notable Q&A Insights

Growth Drivers: The increase in guidance is primarily attributed to the strong performance of the Mechanical Thrombectomy and NanoKnife segments.

Hospital Penetration: The company is seeing good uptake in hospitals, with ongoing efforts to convert interest into product approvals.

Sales Force Expansion: The Mechanical Thrombectomy sales force has increased by 25% to 50 dedicated reps, with plans for continued investment in sales resources.

Clinical Trials: Positive momentum in the AMBITION BTK study, with expectations for significant contributions to the Auryon business upon successful outcomes. Overall, AngioDynamics reported a strong start to FY 2026, with notable growth in key segments and an optimistic outlook, despite challenges related to tariffs and competitive pressures.