AngioDynamics(US:ANGO)2026-01-06 20:19Financial Performance - Net sales for the three months ended November 30, 2025, increased by $6.6 million to $79.4 million, compared to $72.8 million in the same period of the prior year, representing an increase of 9.0%[111] - The Company reported a net loss of $6.4 million for the three months ended November 30, 2025, a decrease of $4.4 million compared to a net loss of $10.7 million in the same quarter of the prior year[109] - For the six months ended November 30, 2025, net sales increased by $14.8 million to $155.1 million, compared to $140.3 million in the same period of the prior year, representing an increase of 10.6%[111] - The company reported a net loss of $17.3 million and $23.5 million for the six months ended November 30, 2025 and 2024, respectively[131] Revenue Growth - Med Tech revenue grew by 13.0% in the second quarter of fiscal year 2026, driven by Auryon, NanoKnife, and thrombus management products[108] - The Company’s Med Device revenue grew by 6.0% in the second quarter of fiscal year 2026, driven by growth in Core, Ports, and Venous product lines[108] - Increased sales of Auryon contributed $2.6 million and $5.3 million for the three and six months ended November 30, 2025, respectively[114] Margins - Gross margin increased by 160 basis points to 56.4% for the three months ended November 30, 2025, compared to 54.8% in the same period of the prior year[111] - Med Tech gross margin increased to 65.3% for the three months ended November 30, 2025, up from 63.7% in the same period of the prior year[115] - The Med Device segment gross margin increased by $1.7 million and $2.6 million for the three and six months ended November 30, 2025, compared to the same period in the prior year[117] Expenses - Research and development (R&D) expense increased by $1.3 million and $1.5 million for the three and six months ended November 30, 2025, respectively[120] - Selling and marketing (S&M) expense rose by $1.1 million and $3.6 million for the three and six months ended November 30, 2025, respectively[121] - General and administrative (G&A) expense decreased by $0.2 million for the three months but increased by $1.3 million for the six months ended November 30, 2025[122] Cash and Debt Position - Cash and cash equivalents totaled $41.6 million as of November 30, 2025, down from $55.9 million as of May 31, 2025[128] - Cash used in operating activities was $11.3 million and $15.8 million for the six months ended November 30, 2025 and 2024, respectively[131] - As of November 30, 2025, the Company had no outstanding debt, indicating a strong financial position[137] - The Company has a $25.0 million secured revolving credit facility with interest rates based on SOFR plus 0.1% or an alternate base rate, with no amounts outstanding as of November 30, 2025[138] Risk Management - Approximately 4.6% of the company's sales for the six months ended November 30, 2025, were denominated in foreign currencies, exposing profitability to currency fluctuations[136] - The Company mitigates credit risk by maintaining cash and cash equivalents at various institutions and regularly evaluating their credit standings[139] - No single customer accounts for more than 10% of total sales, reducing concentration of credit risk in trade accounts receivable[140] - The standard payment terms for customers are 30 to 90 days from invoicing, minimizing significant financing provided to customers[140] - The Company does not foresee significant credit risk associated with outstanding accounts receivable, relying on the financial stability of its customers[140] Future Outlook - The Company expects to grow by expanding geographically, penetrating new markets, and introducing new products[106] - The backlog at November 30, 2025, was $0.4 million, primarily impacting sales of Core products[112] - Acquisition, restructuring, and other items, net, decreased by $2.2 million and $3.8 million for the three and six months ended November 30, 2025, respectively[125] - The effective tax rate for the three months ended November 30, 2025, was 0.1%, compared to 1.0% for the same period in the prior year[127]