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 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].

Core Insights - AngioDynamics (ANGO) is experiencing growth driven by its NanoKnife product and a focus on cancer treatment markets, supported by a strong second-quarter fiscal 2026 performance and ongoing studies [1][2] Financial Performance - AngioDynamics reported a revenue increase of 8.8% year over year to $79.4 million in fiscal Q2 2026, with the NanoKnife revenue rising 22.2% due to record prostate cancer procedure volumes [7][10] - The Auryon franchise generated $16.3 million in revenue, reflecting an 18.6% year-over-year growth, marking 18 consecutive quarters of double-digit growth [5][10] - The company has a market capitalization of $422.1 million and projects a 51.9% growth over the next year [2] Growth Drivers - The NanoKnife franchise is a key growth driver, with probe sales increasing 14.4% year over year, attributed to rising adoption in prostate cancer procedures [3][4] - Management noted steady adoption of NanoKnife, supported by procedural growth and increasing clinical utilization, particularly in the prostate cancer market [4] - The mechanical thrombectomy portfolio saw a revenue increase of 3.9% year over year to $11 million, with AlphaVac achieving over 40% growth [9] Market Position and Trends - AngioDynamics has gained 9.8% in share price over the last six months, outperforming the industry growth of 5.2% and the S&P 500's increase of 11.9% [1] - The company has been experiencing a positive estimate revision trend, with the Zacks Consensus Estimate for loss narrowing to 27 cents per share for fiscal 2026 [13] Challenges - Management acknowledged ongoing tariff-related costs of $4–$6 million for the fiscal year, which may pose a structural margin headwind [11][12]

Core Insights - AngioDynamics is experiencing significant growth in its MedTech portfolio, particularly with the Auryon platform, which has generated over $60 million in revenue this year, up from zero at launch in September 2020 [1][4] - The company is transitioning from a legacy interventional radiology focus to a more science-driven MedTech portfolio, targeting larger and faster-growing markets [2][3] - CEO Jim Clemmer plans to retire later this year but will remain involved as a major shareholder and advisor during the leadership transition [4][17] Product and Market Developments - Auryon, a laser-based atherectomy platform, has seen nearly 20% growth year-to-date, with increased traction in hospitals and higher average selling prices [5] - The AlphaVac system, targeting pulmonary embolism, is positioned as a differentiated product in the VTE market, which is still early in its penetration curve, with only about 15% market penetration [6][7] - NanoKnife, used for treating intermediate-risk prostate cancer, has received an on-label indication and is expected to expand into benign prostatic hyperplasia (BPH) [8][9][16] Financial Performance and Projections - AngioDynamics is debt-free with positive adjusted EBITDA and expects to be cash-flow positive by fiscal 2026, with MedTech products projected to exceed 50% of revenue by fiscal 2027 [4][11][14] - The company's MedTech products have achieved a 25% compound annual growth rate over the past five years, with continued growth anticipated [10][11] - Management plans to optimize the portfolio further as MedTech becomes a larger share of the business, with no substantial M&A expected in the near term [13][14] Leadership Transition - The company will conduct a deliberate search for a new CEO, considering both internal and external candidates, with no rush to finalize the appointment [17][18] - Clemmer's retirement is based on personal circumstances, and he feels confident in the company's recent execution and results [17][18]

Summary of AngioDynamics FY Conference Call (January 14, 2026) Company Overview - **Company**: AngioDynamics (NasdaqGS: ANGO) - **Industry**: Medical Technology (MedTech) and Medical Devices - **Transformation**: Over the past five years, AngioDynamics has shifted from an interventional radiology-based company to a more diversified MedTech portfolio, focusing on larger, addressable markets [2][3] Key Points and Arguments Portfolio Transformation - The company has undergone significant transformation, divesting from slow or undifferentiated markets to focus on a scientific-based MedTech portfolio [3][4] - Achieved a five-year compound annual growth rate (CAGR) of approximately 25% in MedTech markets during this transformation [4] Operating Segments - AngioDynamics operates in two segments: - **MedTech Portfolio**: Focused on growth and innovation - **MedDevice Portfolio**: Represents legacy products that are still generating revenue [5] Focus Areas - The company targets two major disease states: cardiovascular disease and solid tumor cancer, which are leading causes of mortality globally [5][6] Product Highlights - **Auryon**: Launched in September 2020, this product has generated over $60 million in revenue in its second year, capturing market share from major competitors [7][8] - **AlphaVac**: A new product for treating pulmonary embolism (PE), designed to safely remove clots from patients [10][11] - **NanoKnife**: A device for treating intermediate-risk prostate cancer, recently received FDA clearance and CPT-1 code for reimbursement [19][21] Market Potential - The prostate cancer market is significant, with 300,000 diagnoses expected in the U.S. this year, and nearly half classified as intermediate risk [19] - The benign prostatic hyperplasia (BPH) market is larger than the prostate cancer market, presenting further growth opportunities [26] Financial Performance - The company is transitioning to positive EBITDA and cash flow, with zero debt on the balance sheet [29][42] - Recent financial results exceeded Wall Street expectations, with guidance raised in several categories [30][42] Future Growth Strategy - AngioDynamics plans to leverage existing technologies to expand into new markets without relying heavily on M&A [47][50] - The company aims to increase its market presence in thrombectomy and coronary markets, which are larger than current markets [39][40][41] Management Transition - CEO Jim Clemmer announced his retirement, which may have impacted stock performance, but he expressed confidence in the company's future [32][53] Additional Important Information - The company has been recognized by Time Magazine as one of the top 25 medical inventions, highlighting the innovative nature of its products [24] - AngioDynamics is focusing on education and awareness campaigns to promote its new treatment options, particularly NanoKnife [22][23] This summary encapsulates the key points discussed during the AngioDynamics FY Conference Call, highlighting the company's strategic transformation, product innovations, market opportunities, and financial outlook.

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 management for future operations, as well as statement ...

Core Insights - AngioDynamics, Inc. (ANGO) reported breakeven adjusted earnings per share for the second quarter of fiscal 2026, an improvement from a loss of 4 cents in the same quarter last year, surpassing the Zacks Consensus Estimate of a loss of 10 cents [1][2] - The company’s pro-forma revenues for the fiscal second quarter reached $79.4 million, reflecting an 8.8% year-over-year increase and exceeding the Zacks Consensus Estimate by 4.5% [3][10] - Despite the positive financial results, shares of AngioDynamics fell nearly 13.5% in the trading session following the announcement [4] Revenue Analysis - U.S. net revenues for the quarter totaled $67.6 million, up 7.8% year over year, surpassing the estimate of $62.3 million [5] - Pro-forma international revenues were $11.8 million, an 8.8% increase from the previous year, exceeding the projection of $10.2 million [5] Segment Performance - The Med Tech segment reported pro-forma net sales of $35.7 million, a 13% increase year over year, outperforming 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, reflecting a 5.6% increase compared to the previous year, also exceeding the estimate of $39.9 million [8] Margin and Expense Analysis - AngioDynamics' pro forma gross profit rose 14% to $44.8 million, with gross margin expanding by 170 basis points to 56.4%, surpassing the projected margin of 54.2% [11][10] - Sales and marketing expenses increased by 4.4% year over year to $26.7 million, while R&D expenses rose by 20.7% to $7.8 million [12] Cash Position - The company ended the second quarter with cash and cash equivalents of $41.6 million, up from $38.8 million at the end of the previous quarter, with no debt on its balance sheet [13] Fiscal Year Guidance - AngioDynamics updated its fiscal 2026 sales guidance to a range of $312-$314 million, up from the previous guidance of $308-$313 million [14] - The company anticipates Med Tech revenue growth of 14-16% and flat to 1% growth for Med Device revenues [15] - Adjusted loss per share is projected to be between 33 cents and 23 cents, with the Zacks Consensus Estimate at a loss of 28 cents per share [16] Overall Assessment - AngioDynamics demonstrated strong execution in the second quarter, with revenue growth driven by the higher-margin Med Tech portfolio, which now accounts for 45% of total revenue [17] - Auryon continues to be a significant growth driver, achieving its 18th consecutive quarter of double-digit growth [18] - The Mechanical Thrombectomy segment showed mid-single-digit growth, with regulatory advancements expected to enhance adoption and clinical use [19]

Core Insights - AngioDynamics reported a strong performance in the first quarter of fiscal year 2026, with a revenue increase of 12.2% to $75.7 million, driven by growth in both Med Tech and Med Device segments [15][4][5] - The Med Tech segment saw significant growth of 26.1%, while the Med Device segment grew by 2.3% [15][16] - The company is focused on strategic transformation, emphasizing profitability alongside revenue growth, and plans to continue investing in product development and regulatory opportunities [4][5][28] Financial Performance - Total revenue for Q1 FY 2026 was $75.7 million, a 12.2% increase compared to the same quarter in FY 2025 [15] - Med Tech revenue reached $35.3 million, reflecting a 26.1% year-over-year growth, while Med Device revenue was $40.4 million, up 2.3% [15][16] - Gross margin improved to 55.3%, a 90-basis-point increase from the previous year, driven by pricing initiatives and a favorable sales mix [19][20] Segment Highlights - The Auryon platform generated $16.5 million in revenue, growing 20.1% year-over-year, marking 17 consecutive quarters of double-digit growth [17] - Mechanical Thrombectomy revenue, including AngioVac and AlphaVac, increased by 41.2% year-over-year, totaling $11.3 million [18] - NanoKnife revenue was $6.4 million, a 26.7% increase, with expectations for continued growth driven by increased adoption in prostate cancer treatment [10][18] Strategic Initiatives - The company is expanding its sales force for Mechanical Thrombectomy, increasing dedicated sales representatives from 40 to 50 to support growth [39] - AngioDynamics is focused on enhancing its product portfolio and market penetration, particularly in the hospital sector, to drive future growth [6][9] - The company plans to maintain a strong emphasis on research and development, targeting approximately 10% of sales for R&D initiatives [21] Guidance and Outlook - AngioDynamics raised its fiscal year 2026 net sales guidance to a range of $308 million to $313 million, reflecting growth of 5% to 7% over the previous year [24][25] - The company expects Med Tech net sales to grow 14% to 16%, while Med Device sales are anticipated to remain flat [26] - Adjusted EBITDA is projected to be between $6 million and $10 million, an increase from prior guidance [27]

Core Insights - AngioDynamics reported strong financial performance for the third quarter of fiscal year 2025, with total worldwide revenue reaching $72 million, reflecting a year-over-year growth of over 9% [5][18]. - The company has increased its guidance for total revenue, MedTech growth, gross margin, adjusted EBITDA, and adjusted EPS for the fiscal year 2025, indicating confidence in its operational strategy and market position [6][30]. Financial Performance - Total revenue for the third quarter was $72 million, with MedTech segment revenue growing by 22% to $31.3 million, while the Med Device segment saw a slight increase of 0.9% to $40.7 million [5][18]. - Adjusted EBITDA was reported at $1.3 million, a significant improvement from a loss of $3.6 million in the prior year [25]. - The adjusted net loss was $3.1 million, or an adjusted loss per share of $0.08, improving from a loss of $6.5 million or $0.16 per share in the same quarter last year [24]. Product Performance - The Auryon platform generated $13.9 million in revenue, growing 17.3% year-over-year, marking 15 consecutive quarters of double-digit growth [18]. - Mechanical Thrombectomy revenue, including AlphaVac and AngioVac, increased by 46.7% year-over-year, with AlphaVac revenue soaring by 161.4% [19]. - NanoKnife revenue reached $6.3 million, a 5.3% increase, with disposable revenue growing by 16.2% [19]. Strategic Outlook - The company expects revenue for fiscal 2025 to be in the range of $285 million to $288 million, representing growth of 5.3% to 6.4% over fiscal year 2024 [29]. - MedTech net sales are projected to grow between 14% to 16%, while Med Device net sales are expected to remain flat [30]. - The company is focused on increasing penetration in the hospital market for Auryon and expanding its sales force for AlphaVac and AngioVac to drive further growth [32][47]. Research and Development - R&D expenses were $6.9 million, or 9.6% of sales, down from $8.1 million or 12.2% of sales a year ago, reflecting a commitment to long-term growth in the MedTech segment [23]. - The AMBITION BTK trial is set to evaluate clinical outcomes for Auryon, with enrollment expected to begin in the next quarter [53]. Market Position - The company is well-positioned with a strong balance sheet, reporting $44.8 million in cash and cash equivalents as of February 28, 2025 [25]. - AngioDynamics is focused on driving sustainable, profitable growth through its innovative product portfolio and strategic market initiatives [35][58].

Core Insights - AngioDynamics reported a solid first quarter for fiscal year 2025, with total worldwide revenue of $67.5 million, reflecting a year-over-year growth of just over 1% [5][18] - The MedTech segment showed strong performance, growing approximately 9%, driven by products like Auryon and AlphaVac, which both experienced growth exceeding 20% [5][6] - The company is focused on achieving profitability, reporting an adjusted EBITDA loss of $200,000, a significant improvement from a loss of $1.1 million in the previous year [6][15] Financial Performance - Total revenue for the first quarter was $67.5 million, with MedTech revenue at $28 million (up 8.7% year-over-year) and Med Device revenue at $39.5 million (up 3.6% year-over-year) [18][19] - Adjusted EPS was a loss of $0.11 per share, improving from a loss of $0.16 per share in the same quarter last year [16][23] - Gross margin for the first quarter was 54.4%, slightly down from the previous year, but ahead of expectations [22] Product Performance - Auryon generated $13.7 million in revenue, growing 24.9% year-over-year, while AlphaVac contributed significantly to revenue growth [19][30] - AngioVac revenue was $2.2 million, marking a 21.1% increase year-over-year, attributed to the adoption of AlphaVac for pulmonary embolism treatment [19][20] - NanoKnife revenue declined 4.6% in disposable sales, with capital sales down 15%, primarily due to tough year-over-year comparisons [20][21] Strategic Initiatives - The company is transitioning to outsourced manufacturing, expected to generate approximately $15 million in annualized savings by fiscal 2027 [16][24] - AngioDynamics is pursuing new product launches and geographic expansions, with a total addressable market for MedTech now estimated at $10 billion, up from $3 billion three years ago [29][30] - The company is focused on increasing penetration in hospitals for Auryon and expanding its presence in the European market following CE mark approval [8][30] Guidance and Outlook - For fiscal year 2025, AngioDynamics expects revenue in the range of $282 million to $288 million, representing growth of 4.2% to 6.4% over fiscal year 2024 [27] - The company anticipates MedTech net sales growth of 10% to 12% and Med Device net sales growth of 1% to 3% [28] - AngioDynamics remains optimistic about achieving cash flow positivity by the end of fiscal year 2026, with expectations for reduced cash utilization in subsequent quarters [53][56]