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, 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 first quarter for fiscal year 2026, with net sales reaching $75.7 million, reflecting a year-over-year growth of 12.2% [2][7] - The Med Tech segment experienced significant growth, with net sales of $35.3 million, marking a 26.1% increase compared to the previous year [2][8] - The company continues to focus on operational excellence and innovative technologies to drive profitable growth and enhance patient care [4][5] Financial Performance - Net sales for the first quarter of fiscal year 2026 were $75.7 million, an increase of 12.2% from the prior year [2][7] - Med Tech net sales were $35.3 million, a 26.1% increase from $28.0 million in the prior-year period [2][8] - Med Device net sales were $40.4 million, a 2.3% increase compared to $39.5 million in the prior-year period [9] Profitability Metrics - The company reported a GAAP gross margin of 55.3%, which is 90 basis points higher than the first quarter of fiscal 2025 [10] - Adjusted EBITDA for the first quarter was $2.2 million, compared to a loss of $0.2 million in the prior year [12] - The company recorded a GAAP net loss of $10.9 million, or a loss per share of $0.26, while the adjusted net loss was $4.2 million, or a loss per share of $0.10 [11][12] Cash Flow and Guidance - The company ended the first quarter with $38.8 million in cash and cash equivalents, down from $55.9 million at the end of the previous quarter [14] - AngioDynamics expects to be cash flow positive for the full fiscal year 2026 [5][13] - The company raised its full-year guidance for net sales, Med Tech net sales growth, Adjusted EBITDA, and Adjusted EPS [5][19] Clinical Developments - The first patients were enrolled in the AMBITION BTK and RECOVER-AV clinical trials, demonstrating the company's commitment to advancing clinical evidence [15][16] - Results from the NanoKnife PRESERVE study were published, showing promising outcomes for prostate cancer treatment [18]