Financial Performance - For the three months ended February 28, 2026, net sales increased by $6.4 million to $78.4 million, compared to $72.0 million in the same period of the prior year [111]. - For the nine months ended February 28, 2026, net sales increased by $21.2 million to $233.6 million, compared to $212.3 million in the same period of the prior year [111]. - The company reported a net loss of $8.1 million for Q3 FY2026, compared to a net loss of $4.4 million in Q3 FY2025 [111]. - The company recorded a net loss of $25.3 million for the nine months ended February 28, 2026 [132]. Revenue Growth - Med Tech revenue grew by 19.0% in Q3 FY2026, driven by increased sales of Auryon and the thrombus management platform [110]. - Med Tech segment net sales increased by $5.9 million and $17.3 million for Q3 and nine months ended February 28, 2026, respectively [115]. - Increased sales of Auryon contributed $2.5 million and $7.8 million to revenue for Q3 and nine months ended February 28, 2026, respectively [116]. Margins and Expenses - Gross margin decreased by 110 basis points to 52.9% for Q3 FY2026, with Med Tech gross margin remaining consistent at 62.5% and Med Device gross margin decreasing to 44.2% [113]. - The Med Device segment gross margin decreased by $1.1 million for the three months ended February 28, 2026, but increased by $1.5 million for the nine months ended February 28, 2026 compared to the prior year [119]. - Research and development expenses increased by $0.2 million and $1.6 million for the three and nine months ended February 28, 2026, respectively [121]. - Selling and marketing expenses rose by $1.9 million and $5.6 million for the three and nine months ended February 28, 2026, respectively [122]. - General and administrative expenses increased by $0.2 million and $1.6 million for the three and nine months ended February 28, 2026, respectively [123]. Cash and Financing - Cash and cash equivalents totaled $37.8 million as of February 28, 2026, down from $55.9 million as of May 31, 2025 [129]. - Cash used in operating activities was $14.4 million for the nine months ended February 28, 2026, compared to $28.9 million for the same period in 2025 [132]. - $6.3 million of proceeds from financing arrangements in Q3 of fiscal year 2025 [135]. - $1.0 million of proceeds from stock option and ESPP activity for both periods [135]. - $1.7 million of cash used for the repurchase of common shares in fiscal year 2025 [135]. - The Company had no outstanding debt as of February 28, 2026 [138]. - The Credit Agreement provides for a $25.0 million secured revolving credit facility [139]. Market and Operational Challenges - The current macroeconomic environment, including inflation and supply chain challenges, continues to impact the company's operations [109]. - The backlog at February 28, 2026, was $0.3 million, primarily impacting sales of Core products [114]. Tax and Risk Management - The effective tax rate including discrete items for the three months ended February 28, 2026 was (0.1)% [128]. - No single customer represents more than 10% of total sales, limiting concentration of credit risk [141]. - The Company does not foresee significant credit risk associated with outstanding accounts receivable [141]. - Approximately 4.1% of sales were denominated in foreign currencies for the nine months ended February 28, 2026 [137]. Other Income - Other income, net decreased by $0.7 million and $1.8 million for the three and nine months ended February 28, 2026, respectively [127]. - The company achieved a manufacturing transfer milestone related to divested products, recording associated revenue of $5.0 million in the third quarter of fiscal year 2026 [127].

Financial Data and Key Metrics Changes - Revenue increased by 8.9% to $78.4 million, driven by growth in both MedTech and Med Device segments [14] - Adjusted EBITDA improved to $1.8 million from $1.3 million year-over-year, attributed to MedTech revenue growth and operational efficiency initiatives [19] - Gross margin for Q3 FY 2026 was 52.9%, a decrease of 110 basis points from the previous year, primarily due to tariffs and inflation [17] Business Line Data and Key Metrics Changes - MedTech revenue reached $37.3 million, a 19% increase, comprising 48% of total revenue compared to 44% a year ago [14] - Auryon platform generated $16.3 million in revenue, growing 17.9% year-over-year, marking 19 consecutive quarters of double-digit growth [14][15] - Mechanical Thrombectomy revenue, including AngioVac and AlphaVac, increased by 17.9% to $11.5 million, with AlphaVac revenue growing 47.4% year-over-year [15] - NanoKnife revenue was $7.6 million, a 21% increase, driven by strong demand in prostate care [16] Market Data and Key Metrics Changes - The Med Device segment saw a modest increase of 1.1% year-over-year, with a year-to-date growth of 3% [16] - International traction for Auryon continued following CE Mark approval, indicating potential for market expansion [8] Company Strategy and Development Direction - The company is focused on driving profitable growth in high-margin MedTech markets, with a commitment to innovation and product development [5][12] - A strategic shift towards hospital markets is expected to enhance pricing power and customer relationships [41] - Continued investment in R&D is planned, targeting approximately 10% of sales to support long-term growth [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience despite macroeconomic challenges, including tariffs and inflation [7][20] - The company raised its full-year guidance for net sales and adjusted EBITDA for the third consecutive quarter, reflecting strong performance and market positioning [5][21] - Future cash flow is expected to remain positive, with substantial cash generation anticipated in the fourth fiscal quarter [22][24] Other Important Information - The company is planning to increase inventory levels in anticipation of temporary sterilization shutdowns, which may slightly impact cash flow [23] - The leadership transition process is underway, with a search committee formed to find a successor for the current CEO [26] Q&A Session Summary Question: Insights on AlphaVac's sequential growth and impact from PE guidelines - Management noted that growth is driven by increased hospital approvals and physician comfort with the product, expecting continued sequential growth [30] Question: Guidance considerations regarding energy costs and supplier pricing - Management confirmed that guidance accounts for inflationary pressures and tariffs, with some ability to raise prices based on product quality [33][34] Question: Future expectations for AlphaVac's revenue baseline - Management expects AlphaVac to continue growing sequentially, viewing current revenue as a strong driver for future growth [39] Question: Details on Auryon's performance in different care settings - Management highlighted a strategic shift towards hospital settings, which enhances pricing and volume, while also maintaining growth in outpatient settings [41][42] Question: Supply chain risks related to China and sterilization shutdowns - Management indicated minimal risk from China sourcing and noted that sterilization shutdowns are not expected to be a recurring issue, emphasizing strong cash management [48][50]

Financial Data and Key Metrics Changes - Revenue increased by 8.9% to $78.4 million, driven by growth in both MedTech and Med Device segments [13] - Adjusted EBITDA improved to $1.8 million from $1.3 million year-over-year, attributed to MedTech revenue growth and operational efficiency [18] - Gross margin for Q3 FY 2026 was 52.9%, a decrease of 110 basis points from the previous year, primarily due to tariffs and inflation [16] Business Line Data and Key Metrics Changes - MedTech revenue reached $37.3 million, a 19% increase, comprising 48% of total revenue compared to 44% a year ago [13] - Auryon platform generated $16.3 million in revenue, growing 17.9% year-over-year, marking 19 consecutive quarters of double-digit growth [13][14] - Mechanical thrombectomy revenue, including AngioVac and AlphaVac, increased by 17.9% to $11.5 million, with AlphaVac revenue growing 47.4% year-over-year [14] Market Data and Key Metrics Changes - The Med Device segment saw a modest increase of 1.1% year-over-year, with a year-to-date growth of 3% [15] - NanoKnife revenue increased by 21% to $7.6 million, driven by strong demand in prostate care and capital sales [15] Company Strategy and Development Direction - The company is focused on driving profitable growth in high-margin MedTech markets, with a strategic shift towards hospital settings [5][41] - Continued investment in R&D is planned, targeting approximately 10% of sales to support long-term growth [17] - The company is raising its full-year guidance for net sales and adjusted EBITDA for the third consecutive quarter, reflecting confidence in its growth strategy [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite macroeconomic challenges, including tariffs and inflation [5][19] - The company anticipates continued growth in the AlphaVac product line and expects to maintain strong performance in the MedTech segment [30][38] Other Important Information - The company plans to increase inventory levels in anticipation of temporary sterilization shutdowns, which may slightly impact cash flow [23][50] - The leadership transition process is underway, with a search committee formed to find a successor for the current CEO [24] Q&A Session Summary Question: AlphaVac sequential growth drivers and impact of PE guidelines - Management noted that growth is driven by new hospital approvals and physician comfort with the product, expecting continued sequential growth [29][30] Question: Guidance impact from higher energy costs and supplier costs - Management confirmed that guidance accounts for inflationary pressures and tariffs, with some ability to raise prices on superior products [32][33] Question: Future baseline for AlphaVac revenue - Management expects AlphaVac to continue growing sequentially, viewing current revenue as a strong driver for future growth [38] Question: Auryon volume versus price dynamics - Management highlighted the strategic shift towards hospital settings, which supports pricing and volume growth, and expects Auryon to continue growing [40][41] Question: Supply chain exposure to China and sterilization shutdowns - Management indicated minimal risk from China sourcing and noted that sterilization shutdowns are not frequent, with plans in place to mitigate any disruptions [48][50]

Financial Data and Key Metrics Changes - Revenue increased by 8.9% to $78.4 million, driven by growth in both MedTech and Med Device segments [13] - Adjusted EBITDA improved to $1.8 million from $1.3 million year-over-year, attributed to MedTech revenue growth and operational efficiency [18] - Gross margin for Q3 FY 2026 was 52.9%, a decrease of 110 basis points from the previous year, primarily due to tariffs and inflation [16] Business Line Data and Key Metrics Changes - MedTech revenue reached $37.3 million, a 19% increase year-over-year, comprising 48% of total revenue [13] - Auryon platform generated $16.3 million in revenue, growing 17.9% year-over-year, marking 19 consecutive quarters of double-digit growth [13] - Mechanical thrombectomy revenue, including AngioVac and AlphaVac, increased by 17.9% to $11.5 million, with AlphaVac revenue growing 47.4% year-over-year [14] Market Data and Key Metrics Changes - The Med Device segment saw a modest increase of 1.1% year-over-year, with a year-to-date growth of 3% [15] - NanoKnife revenue increased by 21% to $7.6 million, driven by strong demand in prostate care [15] Company Strategy and Development Direction - The company is focused on driving profitable growth in high-margin MedTech markets, with a strategic shift towards hospital settings [5][41] - Continued investment in R&D is planned, targeting approximately 10% of sales to support long-term growth [17] - The company is raising full-year guidance for net sales and adjusted EBITDA for the third consecutive quarter, reflecting confidence in growth strategies [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite macroeconomic uncertainties and challenges such as tariffs and inflation [5] - The company anticipates continued growth in the mechanical thrombectomy market and expects to maintain strong performance in the MedTech segment [9][38] Other Important Information - The company plans to increase inventory levels in anticipation of temporary sterilization shutdowns, which may slightly impact cash flow [23] - The leadership transition process is underway, with a search committee formed to find a successor for the CEO [24] Q&A Session Summary Question: What are the drivers behind AlphaVac's sequential growth? - Management noted that the growth is driven by increased hospital approvals and physician comfort with the product, expecting continued sequential growth [28][30] Question: Has the guidance accounted for higher energy costs and supplier costs? - Management confirmed that guidance includes expectations for inflationary costs and tariffs, with some ability to raise prices on superior products [32][33] Question: Should the $4.4 million AlphaVac revenue be viewed as a new baseline? - Management expects AlphaVac to continue growing sequentially, viewing the current revenue as a strong driver for future growth [38] Question: Can you provide insights on Auryon's performance in hospitals versus OBL? - Management highlighted a strategic shift towards hospital settings, which has positively impacted pricing and volume, while still maintaining growth in OBL [41][42] Question: What proportion of MedTech costs are exposed to China sourcing? - Management indicated that there is minimal risk from China sourcing, and inflationary impacts are being managed effectively [48]

Third Quarter FY 2026 Earnings Results April 2, 2026 Forward looking statements Notice Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of m ...

Summary of AngioDynamics 2026 Conference Call Company Overview - **Company**: AngioDynamics (NasdaqGS: ANGO) - **Industry**: Medical Technology - **CEO**: Jim Clemmer - **Conference Date**: March 09, 2026 Key Points Business Evolution and Strategy - AngioDynamics has transformed from a traditional medical device company to a technology-focused entity over the past five years, targeting larger and faster-growing markets where patient outcomes are measurable [8][9] - The company has divested from slower, commodity-based markets and invested in three key areas: cardiovascular platforms and interventional oncology [9] - Simplification of the supply chain has been implemented to reduce unnecessary costs and ensure a clear pathway for future growth [9][10] Financial Performance - The company operates on a unique fiscal year starting June 1, with the most recent quarter ending February 28, 2026 [13] - The Med Device segment, while historically less profitable, has generated cash to support the transformation, while the Med Tech segment has shown nearly 20% growth in the first six months of the fiscal year [14][15] - Gross margins and overall profits have exceeded expectations, leading to an upward revision of guidance after the second quarter [15] Med Tech Segment Insights - The Med Tech segment includes two cardiovascular areas: arterial disease and venous disease, along with interventional oncology using the NanoKnife technology [19] - The Auryon system, launched over five years ago, has generated over $60 million in revenue this year, showcasing strong growth against established competitors [22] - The company has achieved 18 consecutive quarters of double-digit growth, with over 40% of revenue now coming from hospitals [24] Competitive Landscape - The mechanical thrombectomy market is currently 15%-20% penetrated, with AngioDynamics competing against Inari and Penumbra [40] - The AngioVac product is positioned as a high-end catheter-based device, while the newly developed AlphaVac aims to capture the pulmonary embolism (PE) market [42][44] - AlphaVac is expected to surpass AngioVac in sales as it targets a larger market opportunity estimated at $3 billion in the U.S. [49] Product Development and Future Growth - The NanoKnife technology is positioned as a focal therapy option for prostate cancer, targeting the intermediate-risk patient segment [78] - The company is exploring opportunities in benign prostatic hyperplasia (BPH) and aims to expand its product offerings in this area [95] - Ongoing R&D initiatives include potential new devices for deep vein thrombosis (DVT) treatment, leveraging existing technologies [97] Market Challenges and Opportunities - The company faces challenges in securing consistent payment structures for its products, particularly for NanoKnife, which requires ongoing education and awareness efforts [90] - The competitive landscape is evolving, with AngioDynamics focusing on gaining market share from established players while also developing new customer bases [73] Investor Communication - The CEO expressed frustration over the stock's performance relative to the company's achievements, emphasizing the commitment to transparency and delivering on promises made to investors [102] Additional Insights - The company is actively expanding its sales force to support growth in the PE market, with plans to increase from 60 to potentially 100 sales representatives [61] - The CEO highlighted the importance of clinical data and physician confidence in driving product adoption and market penetration [70] This summary encapsulates the key insights and strategic direction of AngioDynamics as discussed in the conference call, providing a comprehensive overview of the company's current status and future outlook.

Core Viewpoint - AngioDynamics, Inc. is a leading medical technology company focused on enhancing blood flow in the vascular system, expanding cancer treatment options, and improving patient quality of life [1] Company Presentation - Jim Clemmer, President and CEO of AngioDynamics, will present at the Leerink Partners Global Healthcare Conference on March 9, 2026, starting at 1:40 p.m. (ET) [1]

Core Insights - AngioDynamics (ANGO) has received expanded indications in Europe for its NanoKnife System, enhancing its clinical utility in soft tissue tumor ablation, specifically for tumors of the liver, pancreas, kidney, and prostate, including intermediate-risk prostate cancer cases [1][8]. Group 1: Expanded Indications and Clinical Utility - The broadened indications allow greater physician access to the NanoKnife System's irreversible electroporation (IRE) technology, which is particularly useful for treating tumors that are difficult to remove or located near vital anatomical structures [2][9]. - The management of ANGO noted increasing clinical adoption of the NanoKnife for prostate indications and aims for further global expansion, highlighting the broader applicability of its IRE technology [3][6]. Group 2: Clinical Evidence and Registry Launch - To support clinical adoption and generate longitudinal evidence, ANGO plans to launch the LIVER-IRE Global Registry in collaboration with the University of Manchester, which will assess real-world outcomes for patients treated with IRE for liver tumors [4][10]. - Clinical evidence for the NanoKnife System's IRE platform is growing, with data from trials indicating procedural success and promising outcomes in various malignancies, reinforcing the technology's safety and value [10][11]. Group 3: Market Position and Growth Potential - ANGO is positioned for significant growth following the European expansion, as broader approvals across multiple tumor types significantly increase its addressable market [6][12]. - Europe accounts for approximately 28% of global IRE procedure volumes, indicating its importance in the overall market and supporting the NanoKnife's multi-organ growth strategy [8][11]. Group 4: Industry Prospects - The tumor ablation market is projected to reach $2.47 billion by 2026, with a CAGR of 13.1% through 2035, driven by rising demand for minimally invasive therapies and advanced therapeutic options [13].

Core Viewpoint - AngioDynamics (ANGO) shares have shown a slight increase of 0.1% over the past four weeks, closing at $10.06, with analysts suggesting a potential upside of 92.2% based on a mean price target of $19.33 [1] Price Targets and Analyst Consensus - The average price target for ANGO ranges from a low of $16.00 to a high of $24.00, with a standard deviation of $4.16, indicating a potential increase of 59.1% to 138.6% from the current price [2] - A low standard deviation suggests a strong agreement among analysts regarding the price targets, which can be a positive indicator for investors [2][9] Earnings Estimates and Analyst Optimism - Analysts have shown increasing optimism about ANGO's earnings prospects, as evidenced by a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [11] - The Zacks Consensus Estimate for the current year has risen by 3.6% over the past month, with no negative revisions, indicating positive sentiment [12] Zacks Rank and Investment Potential - ANGO holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, suggesting a strong potential for upside in the near term [13]

Core Viewpoint - AngioDynamics reported a breakeven adjusted earnings per share for Q2 fiscal 2026, showing improvement from a loss in the previous year, but the stock has underperformed the S&P 500 recently, raising questions about its future performance leading up to the next earnings release [2][1]. Financial Performance - The company achieved pro-forma revenues of $79.4 million in Q2, an 8.8% increase year over year, surpassing the Zacks Consensus Estimate by 4.5% [4]. - U.S. net revenues were $67.6 million, reflecting a 7.8% year-over-year increase, exceeding the estimate of $62.3 million [5]. - Pro-forma international revenues reached $11.8 million, up 8.8% from the previous year, also surpassing projections [5]. Segment Analysis - The Med Tech segment reported pro-forma net sales of $35.7 million, a 13% increase year over year, exceeding the estimate of $32.7 million [6]. - Key drivers included Auryon sales of $16.3 million (up 18.6% year over year) and Mechanical Thrombectomy revenues of $11 million (up 3.9% year over year) [7]. - Pro-forma Med Device revenues totaled $43.8 million, a 5.6% increase from the prior year, also above projections [8]. Margin and Expenses - Pro-forma gross profit increased by 14% to $44.8 million, with gross margin expanding by 170 basis points to 56.4%, surpassing the projected margin of 54.2% [9]. - Sales and marketing expenses rose 4.4% to $26.7 million, while R&D expenses increased by 20.7% to $7.8 million [10]. Cash Position - At the end of Q2 fiscal 2026, AngioDynamics had cash and cash equivalents of $41.6 million, up from $38.8 million at the end of Q1, with no debt on the balance sheet [11]. Guidance and Outlook - The company updated its fiscal 2026 guidance, expecting net sales between $312 million and $314 million, an increase from previous guidance [12]. - Med Tech revenue growth is projected at 14-16%, while Med Device growth is expected to be flat to 1% [13]. - The adjusted loss per share is anticipated to be between 33 cents and 23 cents, with the consensus estimate at a loss of 28 cents [14]. - Estimates have trended downward recently, with a significant revision of -31.25% [15].