AngioDynamics(ANGO) - 2026 Q2 - Quarterly Results

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]