Key Points The medical technology company announced the retirement of CEO Jim Clemmer. This news creates uncertainty for AngioDynamics -- and investors dislike uncertainty. However, the company's business appears to be improving. 10 stocks we like better than AngioDynamics › Shares of AngioDynamics (NASDAQ: ANGO) were sinking 13.1% as of 11:02 a.m. ET. The sell-off came after the medical technology company announced its third-quarter results before the market open. Those results were actually q ...

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Market Overview - U.S. stocks showed mixed performance with the Nasdaq Composite gaining over 50 points, while the Dow decreased by 0.03% to 48,962.01 and the S&P 500 rose by 0.14% to 6,911.52 [1] - Energy shares increased by 2.9%, while utilities stocks fell by 2.2% [1] Company Earnings - AngioDynamics, Inc. reported better-than-expected second-quarter results with an adjusted EPS of $0.00, surpassing market estimates of a loss of $0.10 per share. Sales reached $79.433 million, exceeding expectations of $76.300 million [2] Commodity Prices - Oil prices rose by 0.5% to $58.58, gold increased by 0.6% to $4,477.40, silver gained 2.4% to $78.505, and copper rose by 1.4% to $6.0565 [5] European Market Performance - European shares were mostly higher, with the eurozone's STOXX 600 gaining 0.3%, Spain's IBEX 35 Index rising 0.5%, London's FTSE 100 increasing by 1%, Germany's DAX gaining 0.4%, and France's CAC 40 slipping by 0.3% [6] Asian Market Performance - Asian markets closed mostly higher, with Japan's Nikkei 225 up 1.32%, Hong Kong's Hang Seng Index up 1.38%, China's Shanghai Composite surging 1.50%, while India's BSE Sensex fell by 0.44% [7] Notable Stock Movements - Alumis Inc. shares surged 148% to $20.54 following positive Phase 3 trial results for envudeucitinib in psoriasis [8] - Envirotech Vehicles, Inc. shares rose 73% to $0.6699 after announcing a merger transaction [8] - Cyclerion Therapeutics Inc. shares increased by 54% to $2.13 due to an expanded collaboration with Medsteer [8] - Instil Bio Inc. shares dropped 53% to $5.78 after discontinuing clinical development of AXN-2510 [8] - MOBIX LABS, INC. shares fell 45% to $0.18 following a $6.0 million stock offering [8] - BitVentures Ltd – ADR shares decreased by 23% to $11.40 [8] Economic Indicator - The Logistics Manager's Index declined for the second consecutive month to 54.2 in December, down from 55.7 in the previous two months [9]

Financial Data and Key Metrics Changes - Revenue increased by 8.8% to $79.4 million, with Med Tech up 13% and Med Device up 5.6% [5][13] - Adjusted EBITDA nearly doubled year over year, reaching $5.9 million compared to $3.1 million in the previous year [5][22] - Gross margin improved to 56.4%, a 170 basis point increase from the previous year [20][19] Business Line Data and Key Metrics Changes - Med Tech revenue was $35.7 million, a 13% increase, contributing 45% of total revenue compared to 43% a year ago [14] - Auryon platform revenue grew 18.6% to $16.3 million, marking 18 consecutive quarters of double-digit growth [14][15] - Mechanical thrombectomy revenue increased by 3.9% to $11 million, with AlphaVac growing 40.2% to $3.5 million, while AngioVac revenue decreased by 7.5% to $7.5 million [15][16] Market Data and Key Metrics Changes - International sales for Auryon are beginning to contribute following CE Mark approval, with expectations for growth in the atherectomy market [6][58] - NanoKnife revenue increased by 22.2% to $7.3 million, driven by prostate procedures and a strong quarter for capital sales [17][10] Company Strategy and Development Direction - The company is focused on expanding its Med Tech segment, which addresses a $10 billion global market, and aims to increase penetration in hospitals [28] - Regulatory milestones for mechanical thrombectomy products are expected to enhance competitive positioning and expand clinical applications [8][9] - The company is committed to investing in R&D initiatives to support long-term growth, targeting approximately 10% of sales for R&D [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to balance revenue growth with profitability, raising full-year guidance for revenue and adjusted EBITDA [5][24] - The company anticipates continued growth in the Med Tech segment and is optimistic about the long-term opportunities in mechanical thrombectomy and NanoKnife [10][42] Other Important Information - The company announced a leadership transition, with the current CEO planning to retire after a decade, and a search for a new CEO is underway [27][29] - A recent court ruling affirmed the invalidation of a competitor's patents, eliminating a potential $3 million payment [26] Q&A Session Summary Question: Comments on gross margin expectations - Management noted strong gross margin performance driven by positive pricing and a shift towards Med Tech sales, but structural underabsorption is expected in the second half due to manufacturing transitions [34][35] Question: Insights on mechanical thrombectomy performance - Management expressed satisfaction with AlphaVac's growth and acknowledged AngioVac's tough year-over-year comparison, but remains optimistic about its long-term potential [38][40] Question: Update on prostate procedures and CPT code changes - Management is monitoring the impact of the new CPT code on insurance coverage and expects it to be a catalyst for growth, particularly in the Medicare segment [48][50] Question: Adjusted EBITDA expectations for the third quarter - Management does not expect negative EBITDA in the third quarter but anticipates it will be lower than the first half due to planned investments [52][54] Question: Expectations for international sales and Auryon expansion - Management is optimistic about international sales growth following CE Mark approval and is focused on increasing awareness and adoption of Auryon [58][60]

Financial Data and Key Metrics Changes - Revenue increased by 8.8% to $79.4 million, with Med Tech up 13% and Med Device up 5.6% [5][14] - Adjusted EBITDA nearly doubled year-over-year, reaching $5.9 million compared to $3.1 million in the previous year [22] - Gross margin improved to 56.4%, a 170 basis point increase from the previous year [18][19] - Adjusted net loss reduced to $0.1 million, or an adjusted loss per share of $0.001, compared to an adjusted net loss of $1.7 million, or an adjusted loss per share of $0.04 in the prior year [22] Business Line Data and Key Metrics Changes - Med Tech revenue was $35.7 million, a 13% increase, contributing 45% of total revenue compared to 43% a year ago [14] - Auryon platform revenue grew 18.6% to $16.3 million, marking 18 consecutive quarters of double-digit growth [14][15] - Mechanical thrombectomy revenue increased by 3.9% to $11 million, with AlphaVac revenue up 40.2% to $3.5 million, while AngioVac revenue decreased by 7.5% to $7.5 million [15][16] - NanoKnife revenue rose 22.2% to $7.3 million, driven by increased demand for prostate cancer procedures [17] Market Data and Key Metrics Changes - International sales for Auryon are expected to grow following CE mark approval, with ongoing efforts to increase market penetration [6][58] - The company is targeting expansion into coronary applications, although significant R&D spending is not anticipated in the current fiscal year [59] Company Strategy and Development Direction - The company is focused on increasing the percentage of revenue from higher growth, higher margin Med Tech segments [14] - Strategic initiatives include expanding the addressable market for Auryon and enhancing the mechanical thrombectomy portfolio through regulatory approvals [6][8] - The company aims to balance current operational efficiency with investments for long-term growth [11][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to generate cash flow and maintain profitability while investing in growth initiatives [11][23] - The company raised its full-year guidance for revenue and adjusted EBITDA based on strong second-quarter performance [24][25] - Management highlighted the importance of regulatory milestones in enhancing competitive positioning and expanding clinical applications [8][9] Other Important Information - The company announced a leadership transition, with the current CEO planning to retire after a decade, and a search for a new CEO is underway [28][29] - A favorable court ruling regarding patent litigation with C.R. Bard eliminates a potential $3 million payment, concluding a long-standing legal matter [26] Q&A Session Summary Question: Comments on gross margin expectations - Management noted strong gross margin performance driven by positive pricing and a favorable product mix, but anticipated structural underabsorption in the second half due to manufacturing transitions [34][36] Question: Insights on mechanical thrombectomy performance - Management expressed optimism about AlphaVac's growth and acknowledged AngioVac's challenging year-over-year comparison, but remained confident in its long-term potential [39][40] Question: Update on prostate procedures and CPT code changes - Management indicated that it is too early to assess the impact of the new CPT code on insurer responses but sees it as a potential catalyst for growth [49] Question: Adjusted EBITDA expectations for the third quarter - Management expects positive adjusted EBITDA in the third quarter, though it may not be as robust as the first half due to planned investments [53]

Financial Data and Key Metrics Changes - Revenue increased by 8.8% to $79.4 million, with Med Tech up 13% and Med Device up 5.6% [12][5] - Adjusted EBITDA nearly doubled year-over-year to $5.9 million from $3.1 million [21] - Gross margin improved to 56.4%, a 170 basis point increase from the previous year [18] - Adjusted net loss reduced to $0.1 million, or an adjusted loss per share of $0.001, compared to a loss of $1.7 million or $0.04 per share last year [21] Business Line Data and Key Metrics Changes - Med Tech revenue was $35.7 million, a 13% increase, contributing 45% of total revenue [12][13] - Auryon platform revenue grew 18.6% to $16.3 million, marking 18 consecutive quarters of double-digit growth [13][14] - Mechanical thrombectomy revenue increased by 3.9% to $11 million, with AlphaVac growing 40.2% to $3.5 million, while AngioVac revenue decreased by 7.5% to $7.5 million [14][15] - NanoKnife revenue rose 22.2% to $7.3 million, driven by prostate procedures [16] Market Data and Key Metrics Changes - International sales for Auryon are beginning to contribute following CE Mark approval, with expectations for growth in the atherectomy market [6][44] - The company is targeting expansion into coronary applications, although significant R&D spending is not expected this year [46] Company Strategy and Development Direction - The company is focused on increasing penetration in hospitals and expanding its addressable market through various studies and regulatory approvals [6][8] - The leadership transition is underway, with the current CEO announcing retirement plans, which may impact strategic direction [26][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to balance revenue growth with profitability, raising full-year guidance for revenue and adjusted EBITDA [5][23] - The company anticipates continued growth in Med Tech and a slight increase in Med Device sales, with gross margin expected to remain stable [24][23] Other Important Information - The company received favorable court rulings regarding patent litigation, eliminating potential financial liabilities [25] - The transition to a distribution model in France is expected to enhance international sales and market presence [16] Q&A Session Summary Question: Comments on gross margin expectations - Management noted strong gross margin performance driven by positive pricing and product mix, but structural underabsorption is expected in the second half due to manufacturing transitions [31][33] Question: Insights on mechanical thrombectomy performance - Management highlighted strong growth in AlphaVac and expressed confidence in AngioVac's future growth despite a tough year-over-year comparison [34][35] Question: Update on prostate procedures and CPT code changes - Management is optimistic about the impact of the new CPT code on adoption rates, particularly in the Medicare market, and noted strong capital sales related to this [40][41] Question: Adjusted EBITDA expectations for the third quarter - Management expects positive EBITDA in the third quarter but not as robust as the first half due to planned investments [42] Question: International sales expectations for Auryon - Management is pleased with the uptake of Auryon internationally and anticipates gradual growth in sales as awareness increases [44]

Second Quarter FY 2026 Earnings Results January 6, 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 o ...

Financial Performance - Net sales for Q2 FY 2026 were $79.4 million, an increase of 8.8% year-over-year[2] - Med Tech net sales reached $35.7 million, reflecting a 13.0% increase from the prior year[8] - Adjusted EBITDA for Q2 FY 2026 was $5.9 million, up from $3.1 million in Q2 FY 2025[14] - Gross margin improved to 56.4%, a 170 basis point increase compared to Q2 FY 2025[11] - Auryon sales were $16.3 million, an 18.6% increase, while NanoKnife sales grew by 22.2% to $7.3 million[9] - The company raised its full-year FY 2026 net sales guidance to $312 - $314 million from the previous $308 - $313 million[22] - Net sales for the three months ended November 30, 2025, were $79,433,000, an increase of 9% compared to $72,845,000 for the same period in 2024[35] - For the six months ended November 30, 2025, net sales were $155,144,000, representing a 10.6% increase from $140,336,000 in the same period of 2024[38] - The company’s total net sales for the six months reached $155,144,000, reflecting a 10.6% growth compared to the same period last year[65] - Total net sales for the company reached $44,783,000, marking a 12.2% increase compared to the prior year[62] Profitability and Loss - The net loss for the three months ended November 30, 2025, was $6,350,000, a 41% improvement from a net loss of $10,738,000 in the prior year[35] - Adjusted net loss for the three months ended November 30, 2025, was $59,000, significantly improved from an adjusted net loss of $1,742,000 in the prior year[40] - The diluted loss per share for the three months ended November 30, 2025, was $0.15, compared to $0.26 in the same period of 2024[40] - The company reported an adjusted net loss of $4,238,000 for the six months ended November 30, 2025, compared to an adjusted net loss of $6,137,000 for the same period in 2024[47] - The diluted loss per share for the six months ended November 30, 2025, was $0.42, improving from $0.58 in the prior year[47] Operating Expenses - Research and development expenses increased to $7,768,000 for the three months ended November 30, 2025, compared to $6,434,000 in the same period of 2024[35] - Total operating expenses for the six months ended November 30, 2025, were $103,421,000, an increase from $100,822,000 in the same period of 2024[38] - Acquisition, restructuring, and other items totaled $3,635,000 for the three months ended November 30, 2025, down from $5,868,000 in the same period of 2024[54] Cash and Liabilities - The company ended Q2 FY 2026 with $41.6 million in cash and cash equivalents, up from $38.8 million at the end of Q1 FY 2026[15] - Cash and cash equivalents decreased to $41,638,000 from $55,893,000 as of May 31, 2025[71] - Total liabilities decreased to $93,348,000 from $97,174,000 as of May 31, 2025[71] Strategic Developments - FDA IDE approval was received for the APEX-Return study, evaluating the AlphaReturn Blood Management System[16] - The PAVE clinical study received FDA IDE approval to assess the AngioVac System for right-sided infective endocarditis[17] - Jim Clemmer announced his intention to retire during FY 2027, initiating a search for a successor[24] - The company is undergoing strategic adjustments related to the sale of certain business segments, which may impact future financial performance[35] - The company anticipates continued growth in adjusted EBITDA and net sales as it executes its strategic initiatives and product discontinuations[51] Segment Performance - The Med Tech segment reported sales of $35,653,000, a 13% increase from $31,554,000 in the prior year[59] - The Med Device segment generated $43,780,000 in sales, reflecting a 6% increase from $41,291,000 in the previous year[59] - International sales grew by 16.4% to $11,839,000, compared to $10,167,000 in the same quarter of 2024[59] - Med Tech segment reported net sales of $23,286,000 for the three months ended November 30, 2024, reflecting a 15.8% increase compared to the previous year[62] - Med Device segment achieved net sales of $21,497,000 for the same period, representing an 8.6% growth year-over-year[62] - For the six months ended November 30, 2024, Med Tech net sales were $70,914,000, up 19.1% year-over-year[65] - The company’s gross margin for the total segment was 56.4% for the three months ended November 30, 2024[62] - Gross margin for the Med Tech segment was 65.3%, while the Med Device segment reported a gross margin of 49.1%[62]

Core Viewpoint - AngioDynamics, Inc. maintains its adjusted loss guidance for fiscal 2026 while raising its annual net sales outlook Financial Performance - For fiscal 2026, the company projects an adjusted loss in the range of $0.33 to $0.23 per share, while raising net sales guidance to between $312 million and $314 million from the previous forecast of $308 million to $313 million [1] - Analysts expect the company to report a loss of $0.33 per share on net sales of $310.27 million for the year [2] - In the second quarter, the company reported a net loss of $6.35 million or $0.15 per share, compared to a loss of $10.74 million or $0.26 per share in the same quarter last year [2] - Adjusted earnings for the quarter were $0.00 per share, compared to an adjusted loss of $0.04 per share in the year-ago quarter [2] - Net sales for the quarter increased to $79.43 million from $72.85 million in the same quarter last year [3] Market Expectations - The Street anticipated a loss of $0.10 per share on net sales of $76.43 million for the quarter [4] Leadership Changes - Jim Clemmer, the President and CEO, intends to retire upon the appointment of a successor, expected during fiscal 2027, with a search committee established to find the next CEO [4]