Summary of AngioDynamics Q2 2026 Earnings Call

1Key Financial Results and Metrics:

Revenue: Increased by 8.8% year-over-year to $79.4 million.

Med Tech Revenue: $35.7 million, up 13%.

Med Device Revenue: $43.8 million, up 5.6%.

Adjusted EBITDA: Nearly doubled to $5.9 million from $3.1 million year-over-year.

Gross Margin: Improved to 56.4%, up 170 basis points from the previous year.

Cash Flow: Generated $4.7 million in cash during the quarter, with cash and cash equivalents at $41.6 million.

Adjusted Net Loss: Narrowed to $0.1 million, or a loss per share of $0.10, compared to a loss of $1.7 million, or $0.04 per share, in the prior year.

2Strategic Updates and Business Highlights:

Auryon: Achieved 18 consecutive quarters of double-digit growth, with a revenue increase of 18.6% to $16.3 million. The company is expanding its market share in atherectomy and has received CE Mark approval for international sales.

Mechanical Thrombectomy: Combined revenue grew 3.9% to $11 million. AlphaVac showed strong growth (40.2% increase), while AngioVac faced a decline (7.5% decrease) due to tough year-over-year comparisons.

NanoKnife: Revenue increased by 22.2% to $7.3 million, driven by prostate procedures following the introduction of a new CPT code.

Regulatory Milestones: Significant progress in mechanical thrombectomy with three regulatory approvals that enhance product offerings and market competitiveness.

3Forward Guidance and Outlook:

Revenue Guidance: Raised to $312 million to $314 million for FY 2026, up from a prior range of $308 million to $313 million.

Med Tech Growth: Expected to grow 14% to 16%, while Med Device growth is now projected at 0% to 1%.

Adjusted EBITDA Guidance: Increased to a range of $8 million to $10 million, up from $6 million to $10 million.

Adjusted Loss Per Share: Expected to remain in the range of negative $0.33 to negative $0.23.

4Bad News, Challenges, or Points of Concern:

AngioVac Performance: Experienced a year-over-year decline, which was attributed to a strong prior year comparison. There are concerns about sustaining growth in this segment.

Structural Underabsorption: Anticipated in the second half of the year due to manufacturing transitions, which may impact gross margins.

Market Adoption: While there is optimism about new product launches and regulatory approvals, the company faces challenges in market penetration and competition in the mechanical thrombectomy space.

5Notable Q&A Insights:

Gross Margin Expectations: Management indicated that while gross margins performed well in the first half, they may stabilize in the second half due to structural underabsorption from manufacturing changes.

Mechanical Thrombectomy Growth: Management expressed confidence in AlphaVac's growth trajectory and the potential of the AlphaReturn product to address market adoption hurdles.

Prostate Market Dynamics: The transition to a Level 1 CPT code for NanoKnife is expected to enhance adoption, but specific insurer responses are still being monitored.

Leadership Transition: CEO Jim Clemmer announced his intention to retire, with a search for a successor underway, which introduces a degree of uncertainty regarding future strategic direction. This summary encapsulates the key aspects of AngioDynamics' Q2 2026 earnings call, highlighting both achievements and challenges faced by the company.