AngioDynamics Eyes Growth Despite Tariffs

Core Insights - AngioDynamics, Inc. reported stronger-than-expected first-quarter results and raised its fiscal 2026 guidance, indicating growth across its Med-Tech businesses [1][3] Financial Performance - First-quarter revenue increased by 12.1% to $75.7 million, exceeding consensus estimates, driven by a 26.2% rise in Med-Tech sales [2] - Gross margin improved to 55.3%, surpassing the expected 52.5% [2] - Adjusted EPS showed a loss of 10 cents, slightly below forecasts, while adjusted EBITDA reached $2.2 million, exceeding estimates [2] Fiscal Guidance - Fiscal year 2026 revenue guidance was raised to between $308 million and $313 million, reflecting a projected Med-Tech growth of 14% to 16% [3] - Adjusted EBITDA is now expected to range from $6 million to $10 million, with positive cash flow anticipated for the year [3] - Gross margin guidance remains steady at 53.5%-55.5%, despite challenges from manufacturing transitions and raw material costs [3] Product Performance - Mechanical Thrombectomy revenue grew by 41.2% year-over-year to $11.3 million, with strong performance from AngioVac and AlphaVac [4] - Auryon generated $16.5 million in revenue, up 20.1% year-over-year, benefiting from expansion in outpatient labs and hospitals [5] - NanoKnife revenue reached $6.4 million, a 26.7% year-over-year increase, with disposables sales exceeding forecasts [5] Financial Position - AngioDynamics ended the quarter with $38.8 million in cash, no debt, and full access to a $25 million revolving credit facility [6] - Management anticipates approximately $3 million in cash burn in the second quarter before achieving positive cash flow in the second half [6] - Canaccord projects revenue of $310.9 million for fiscal year 2026 and $325.1 million for fiscal year 2027, slightly adjusted from previous estimates [6]