AngioDynamics Reiterates Fiscal 2027 Outlook After Eighth Med Tech Quarter
Net sales were $80.9 million as Med Tech reached $39.9 million and adjusted EBITDA was $5.0 million.
AngioDynamics, Inc. (ANGO), a medical technology company focused on vascular and oncology devices, posted net sales of $80.9 million in the quarter ended August 31, 2026, up 6.9% from a year earlier, after 8.0% pro forma growth in the prior quarter and 8.9% in the quarter before that.
Med Tech net sales were $39.9 million, up 13.2% from $35.3 million a year earlier, the eighth consecutive quarter of double-digit growth in that segment, after 16.7% pro forma growth in the prior quarter and 19.0% in the quarter before that. Med Device net sales were $41.0 million, up 1.4%.
Auryon sales were $18.9 million, up 14.7%, the 21st consecutive quarter of double-digit atherectomy growth, after 17.9% growth in the prior quarter. Mechanical Thrombectomy sales were $12.0 million, up 6.7%, after 17.9% growth in the prior quarter. AlphaVac sales were $4.5 million, up 37.4% year over year and 6.4% sequentially. AngioVac sales were $7.5 million, down 5.9% year over year and up 9.1% sequentially. NanoKnife sales were $8.3 million, up 29.0%, after 21.0% growth in the prior quarter, with probes up 24.1% and capital sales up 53.5%.
GAAP gross margin was 59.4%, 410 basis points higher than the first quarter of fiscal 2026, after 54.0% in the prior quarter and 52.9% in the quarter before that. The company said the lift came from favorable pricing and mix toward Med Tech, partially offset by manufacturing transition and inflation, and that tariff refunds lifted the rate; absent the refunds, gross margin would have been 57.8%. Med Tech gross margin was 66.2% of sales versus 62.2% a year earlier; Med Device gross margin was 52.7% versus 49.3%.
The company recorded a GAAP net loss of $7.1 million, or $0.17 a share, compared with a $10.9 million, or $0.26 a share, loss a year earlier. Adjusted net loss was $1.8 million, or $0.04 a share, versus an adjusted loss of $4.2 million, or $0.10 a share, a year earlier. Adjusted EBITDA was $5.0 million, compared with $2.2 million in the first quarter of fiscal 2026, after $3.3 million in the prior quarter and $1.8 million in the quarter before that.
Tariff-related expenses were $0.9 million, compared with $1.7 million a year earlier. The company received $1.2 million of tariff refunds, for a net tariff benefit of $0.4 million. Cash used in operations was $15.3 million, compared with $15.9 million a year earlier. Cash at August 31, 2026, was $34.0 million on a debt-free balance sheet.
The company reiterated fiscal 2027 guidance: net sales of $336.0 million to $341.0 million, Med Tech net sales growth of 12% to 15%, Med Device net sales growth flat, gross margin of 54% to 55%, adjusted EBITDA of $13.0 million to $16.0 million, and adjusted EPS of a loss of $0.29 to $0.24. It said it expects gross margin to be lower in the second half of fiscal 2027 than in the first half.
Eric Honroth was appointed President and Chief Executive Officer effective November 2, 2026, succeeding Jim Clemmer, who will remain as an executive advisor. The company recorded $0.8 million of CEO transition costs in the quarter. The company received FDA IDE approval for the RELIEF study evaluating NanoKnife IRE for benign prostatic hyperplasia, a 40-subject feasibility trial at up to five U.S. sites.