Core Insights - AngioDynamics (ANGO) is experiencing growth driven by its NanoKnife product and a focus on cancer treatment markets, supported by a strong fourth-quarter fiscal 2025 performance and ongoing studies [1][6][10] - The company's shares have seen a slight decline of 0.3% year-to-date, contrasting with a 7% decline in the industry and an 8.8% increase in the S&P 500 [1][2] Company Performance - AngioDynamics has a market capitalization of $358.8 million and projects a 50% growth over the next year, with earnings surpassing the Zacks Consensus Estimate in the last four quarters, averaging a surprise of 72.58% [2][3] - The fourth-quarter fiscal 2025 results showed a narrower adjusted loss per share and revenues exceeding expectations, indicating strong execution across both operating segments [11] Product and Market Dynamics - The NanoKnife product, which received FDA clearance and Breakthrough Device Designation, generated total revenues of $24.5 million in fiscal 2025, with fourth-quarter revenues of $7.2 million reflecting growth in disposable sales despite softer capital placements [3][4] - Recurring disposable sales grew by 9.6% for the year, providing a reliable revenue stream to offset variability in system placements [3] Clinical and Product Development - AngioDynamics is advancing a broad pipeline of clinical studies, including the AMBITION trial for Auryon and the RECOVER-AV trial for AlphaVac, aimed at enhancing its market position [7][8] - The NanoKnife's PRESERVE prostate trial has met primary endpoints, paving the way for reimbursement catalysts starting in 2026 [8] Financial Outlook - The company anticipates gross margins in the range of 53.5% to 55.5% for fiscal 2026, with adjusted EBITDA projected between $3.0 million and $8.0 million [13] - However, there has been a negative estimate revision trend for fiscal 2026, with the consensus estimate for loss per share expanding from 6 cents to 30 cents [14]

Core Insights - AngioDynamics, Inc. (ANGO) reported an adjusted loss per share of 3 cents for the fourth quarter of fiscal 2025, which is an improvement from a loss of 6 cents in the same quarter last year and better than the Zacks Consensus Estimate of a loss of 13 cents [1][2][9] Financial Performance - The pro forma adjusted loss per share for the fourth quarter of fiscal 2025 was also 3 cents, compared to 5 cents in the year-ago quarter [2][3] - The GAAP loss per share was 15 cents, an improvement from 33 cents in the prior year [2][3] - Full-year fiscal 2025 adjusted loss per share was 15 cents, better than the 38 cents reported in fiscal 2024 and the Zacks Consensus Estimate of a loss of 29 cents [3] - Total revenues for the fourth quarter reached $80.2 million, reflecting a year-over-year increase of 12.9% and exceeding the Zacks Consensus Estimate by 7.5% [4][9] - Full-year fiscal 2025 revenues were $292.5 million, a decline of 3.8% from the previous year but still above the Zacks Consensus Estimate by 1.9% [5][6] Revenue Breakdown - U.S. net revenues for the fourth quarter were $67.5 million, up 11.1% year over year [7] - International revenues were $12.7 million, representing a 23.8% increase from the prior year [8] Segment Analysis - Med Tech revenues in the fourth quarter were $35.8 million, a 22% increase year over year [10][11] - Med Device revenues totaled $44.4 million, up 6.5% from the year-ago period [13] Margin and Expense Analysis - Pro forma gross profit increased by 9.4% to $42.2 million, but the gross margin contracted by 161 basis points to 52.7% [14] - Sales and marketing expenses rose by 7.6% to $26.4 million, while research and development expenses decreased by 1.9% to $6.6 million [15] Cash Position - AngioDynamics ended fiscal 2025 with cash and cash equivalents of $55.9 million, down from $76.1 million at the end of fiscal 2024 [17] - The company reported no debt on its balance sheet and a cumulative net cash used in operating activities of $10.1 million, compared to $28.2 million a year ago [17] Future Guidance - For fiscal 2026, AngioDynamics expects net sales to be between $305 million and $310 million, indicating growth of 4-6% from fiscal 2025 [18] - The company anticipates Med Tech revenue growth of 12-15%, while Med Device revenue growth is projected to be flat [18] - The adjusted loss per share is expected to range between 35 cents and 25 cents, with the Zacks Consensus Estimate at a loss of 24 cents per share [19] Market Developments - AngioDynamics received a CPT Category I Code for Irreversible Electroporation (IRE) for treating pancreatic lesions, effective January 1, 2027, which expands the reimbursement pathway for NanoKnife [22]

Core Insights - AngioDynamics Inc. reported a fourth-quarter 2025 adjusted loss of 3 cents per share, outperforming the consensus loss of 12 cents per share [1] - The company achieved sales of $80.2 million, reflecting a year-over-year increase of 12.7%, surpassing the consensus estimate of $74.26 million [1] - CEO Jim Clemmer stated that the company is "profitable" and its portfolio addresses approximately $10 billion in annual global market opportunities, up from $3 billion in 2021 [1] Financial Guidance - For fiscal year 2026, AngioDynamics expects net sales between $305 million and $310 million, slightly above the consensus of $304.9 million [2] - The company anticipates an adjusted loss between 35 and 25 cents per share, compared to the consensus loss of 23 cents per share [2] Tariff Impact and Financial Metrics - The company expects a $4 million to $6 million impact from tariffs for the full fiscal year 2026 [3] - The gross margin was reported at 52.7%, down 161 basis points from the fourth quarter of fiscal 2024; without the $1.6 million tariff impact, the gross margin would have been 54.7% [4] - Adjusted EBITDA for the quarter was $3.4 million, an increase from $1.5 million a year ago [4] Sales Performance - Med Tech net sales reached $35.8 million, a 22% increase from $29.3 million in the prior-year period, driven by Auryon sales of $15.6 million, which increased 19.7% [4] - Mechanical Thrombectomy revenue, including AngioVac and AlphaVac, was $11.3 million, marking a 44.7% increase [4] - Med Device net sales were $44.4 million, representing a 6.2% increase from $41.8 million in the prior-year period [4]

Core Insights - AngioDynamics reported a strong performance in Q4 FY2025, with total revenue of $80.2 million, reflecting a year-over-year increase of 12.7% driven by growth in both MedTech and med device segments [4][25][45] - The company emphasized the transformational impact of regulatory approvals and market expansion on future revenue potential, despite facing tariff-related headwinds [12][50][63] Financial Performance - Total revenue for FY2025 reached $292.7 million, up 8.1% from the previous year, with MedTech segment revenue growing 19.5% to $126.7 million [9][57] - Adjusted EBITDA for Q4 FY2025 was $3.4 million, an improvement from $1.5 million in Q4 FY2024, indicating margin improvement despite tariff impacts [8][54] - Gross margin for Q4 FY2025 was 52.7%, negatively impacted by tariffs, which reduced margins by 204 basis points [7][51] Segment Performance - MedTech revenue in Q4 FY2025 was $35.8 million, a 22% increase, while med device revenue was $44.4 million, up 6.2% [4][45] - The Auryon platform generated $15.6 million in revenue, growing 19.7% year-over-year, and has shown consistent double-digit growth since its launch [5][45][57] - Mechanical thrombectomy revenue, including AngioVac and AlphaVac, increased by 44.7% year-over-year, with AlphaVac revenue growing 60.8% [6][46][57] Guidance and Future Outlook - For FY2026, the company expects net sales between $305 million and $310 million, representing 4%-6% growth, with MedTech sales projected to increase by 12%-15% [10][60] - The company anticipates $15 million in annualized savings by FY2027 through manufacturing transitions, which will enhance operational efficiency [10][42] - Regulatory milestones, including a CPT Category I code for NanoKnife, are expected to drive growth and reimbursement access starting January 2026 [11][37][72] Strategic Initiatives - The company is focused on driving adoption and market share gains across its MedTech platforms while maintaining operational discipline [63][64] - Continued investments in clinical trials and evidence generation are planned to support product adoption and market penetration [11][29][38] - Management has indicated no plans for major acquisitions or divestitures in the near term, focusing instead on executing their current strategy [12][16]

Financial Data and Key Metrics Changes - Total revenue for the fourth quarter was $80.2 million, representing a year-over-year growth of over 12% [5][23] - MedTech revenue was $35.8 million, a 22% increase, while Med Device revenue was $44.4 million, an increase of 6.2% [23] - For the full fiscal year, total revenue increased by 8.1% to $292.7 million, primarily driven by growth in the MedTech segment [34][35] - Gross margin for the fourth quarter was 52.7%, with MedTech gross margin at 59% and Med Device gross margin at 47.6% [30][36] Business Line Data and Key Metrics Changes - AURYON platform generated $15.6 million in revenue, growing 19.7% year-over-year [23] - Mechanical thrombectomy revenue, including AngioVac and AlphaVac, increased by 44.7% year-over-year, with AngioVac revenue at $8.2 million (39.5% increase) and AlphaVac revenue at $3.1 million (60.8% increase) [24] - NanoKnife revenue totaled $7.2 million, a decrease of 2.5%, attributed to lower capital sales, while disposable sales grew by 5.5% [25] Market Data and Key Metrics Changes - Hospital customers represented approximately 36% of total AURYON revenue, up from 28% at the beginning of fiscal 2025 [7] - In Europe, over $1 million in revenue was generated from AURYON, indicating successful market entry following CE Mark approval [8] Company Strategy and Development Direction - The company is focused on a long-term strategic transformation to simplify its business and enter high-growth, high-margin MedTech markets [5][20] - Continued investment in R&D is planned, targeting approximately 10% of sales to support long-term growth in the MedTech segment [31] - The company aims to drive adoption and market share gains across its MedTech platforms while maintaining operational discipline [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate tariff impacts and maintain profitability, expecting to be cash flow positive in fiscal 2026 [20][39] - The company anticipates net sales for fiscal 2026 to be in the range of $305 million to $310 million, representing growth of 46% over fiscal 2025 [38] Other Important Information - The company achieved significant regulatory approvals and reimbursement wins, which are expected to drive future growth [5][15] - The company incurred $1.6 million in tariff expenses during the fourth quarter, impacting gross margins [28] Q&A Session Summary Question: Details on the blood return product for the VTE business - Management confirmed that the blood return product is designed as an ancillary add-on and is undergoing the 510(k) regulatory process, with confidence in its market potential [46][50] Question: Expectations for NanoKnife growth with upcoming reimbursement - Management indicated that reimbursement starting in January 2026 is expected to drive growth, although immediate acceleration may not be seen [52][56] Question: Major product growth expectations for FY 2026 - Management expects AURYON to grow in the mid-teens, while mechanical thrombectomy products are anticipated to show the strongest growth [60][63] Question: Impact of tariffs on gross margin and outsourcing benefits - Management acknowledged the complexity of tariff impacts and indicated that benefits from the manufacturing transfer plan will be seen in FY 2026 [64][66] Question: Plans for acquiring new MedTech products or divesting existing ones - Management expressed satisfaction with the current portfolio and indicated no immediate plans for acquisitions or divestitures, focusing instead on maximizing existing assets [70][74]

Financial Performance - AngioDynamics' total Med Device revenue grew by 62% pro forma in Q4 2025[5,9] - AngioDynamics' total Med Tech revenue grew by 220% pro forma in Q4 2025[5,9] - AngioDynamics reported pro forma Adjusted EBITDA of $34 million in Q4 2025, a $19 million improvement from Q4 FY24[5] - AngioDynamics ended the quarter with $559 million in cash and cash equivalents, up from $448 million at Feb 28, 2025[5] - AngioDynamics' total Med Tech revenue grew by 195% pro forma for FY 2025[12] - AngioDynamics' total Med Device revenue grew by 08% pro forma for FY 2025[12] Product Line Performance - Auryon sales reached $156 million in Q4 2025, a 197% year-over-year growth[16] - Total Mechanical Thrombectomy sales were $113 million in Q4 2025, a 447% year-over-year growth[5,20] - NanoKnife disposables sales grew by 55% in Q4 2025, while total NanoKnife sales decreased by 25%[5,25] Future Outlook - AngioDynamics projects full-year net sales between $305 million and $310 million for Fiscal Year 2026[27]

Financial Performance - AngioDynamics reported pro forma adjusted EBITDA of $1.3 million, improving from a loss of $3.6 million in Q3 FY24[6] - The company achieved 9% year-over-year pro forma total revenue growth[8] - MedTech segment pro forma revenue grew by 22% year-over-year[8] - For Q3 2025, MedTech net sales were $31.341 million, compared to $25.844 million in Q3 2024[38] - For YTD 2025, MedTech net sales were $90.863 million, compared to $77.068 million in YTD 2024[40] - AngioDynamics increased full-year 2025 guidance for revenue, MedTech growth, gross margin, adjusted EBITDA, and adjusted EPS[7] Product Performance - Auryon sales reached $13.9 million, representing a 17% year-over-year growth[8] - AngioVac sales were $6.8 million, with a 23% year-over-year increase[8] - AlphaVac sales amounted to $3.0 million, demonstrating a 161% year-over-year growth[8] - NanoKnife probe sales totaled $4.9 million, showing a 16% year-over-year growth[8] Strategic & Regulatory Milestones - AngioDynamics received FDA clearance for NanoKnife for prostate tissue ablation[5]