ANGO — AngioDynamics, Inc.

Summary of AngioDynamics Q1 2026 Earnings Call

1. Key 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.

2. Strategic 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.

3. Forward 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.

4. Bad 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.

5. Notable 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.