AngioDynamics Inc

AngioDynamics reported total net sales of $86.6 million for its fiscal 2026 fourth quarter, an 8% increase driven by growth in both its Med Tech and Med Device segments. Med Tech revenue rose 16.7% to $41.8 million, now representing 47% of total company revenue for the full year, up from approximately 22% at the end of fiscal 2020. The Auryon atherectomy platform contributed $17.8 million, a 14.4% increase and its 20th consecutive quarter of double-digit year-over-year growth, while NanoKnife revenue surged 64.5% to $11.8 million behind record procedure volumes and a 132.5% jump in capital equipment sales. The company provided fiscal 2027 revenue guidance of $336 million to $341 million, implying 5% to 6.5% growth, with Med Tech expected to grow 12% to 15%. Adjusted EBITDA for the full year reached $13.2 million, up from $7.6 million in the prior year, and the company ended the period with $53.9 million in cash and a debt-free balance sheet.

AngioDynamics has set its fiscal 2027 net sales guidance at $336 million to $341 million, with adjusted EBITDA expected between $13 million and $16 million. Within that, Med Tech net sales are projected to grow 12% to 15% year-over-year, while Med Device sales are seen roughly flat. Gross margin is forecast at 54% to 55%, and the company anticipates an adjusted loss per share of $0.29 to $0.24. The outlook follows a fourth quarter in which revenue rose 8% to $86.6 million, led by a 64.5% surge in NanoKnife revenue to $11.8 million, while Mechanical Thrombectomy revenue dipped 1.1% to $11.1 million amid a commercial reset. Management also noted that a CEO succession is expected during the first half of fiscal 2027.

AngioDynamics is benefiting from strong NanoKnife growth and broad Med Tech momentum, though tariff and inflation pressures persist. NanoKnife revenues rose 21% year over year to $7.6 million in the fiscal third quarter of 2026, driven by higher probe and capital sales amid favorable reimbursement trends following the January 1, 2026 CPT Category I code implementation. The Auryon platform grew 17.9% to $16.3 million, marking its 19th consecutive quarter of double-digit growth, while the Mechanical Thrombectomy business, combining AngioVac and AlphaVac, increased 17.9% to $11.5 million, with AlphaVac surging 47.4%. Overall third-quarter results beat expectations on both revenue and adjusted loss per share, but gross margin contracted 110 basis points to 52.9% due to tariffs, inflation, and manufacturing transition costs, with management reiterating $4 million to $6 million in expected tariff-related costs for fiscal 2026. The Zacks Consensus Estimate for fiscal 2026 loss per share has remained stable at 19 cents over the past 30 days.

AngioDynamics has received FDA approval for its investigational device exemption application to begin the RELIEF study, which will evaluate the company's NanoKnife System as a minimally invasive treatment for lower urinary tract symptoms caused by benign prostatic hyperplasia. The prospective, single-arm study will enroll 40 patients across up to five U.S. clinical sites, with primary endpoints including changes in International Prostate Symptom Score and device-related adverse events at six months, and follow-up continuing for five years. The NanoKnife System uses irreversible electroporation technology, already cleared for prostate tissue ablation, to deliver non-thermal electrical pulses that create permanent nanopores in targeted cells while preserving surrounding structures. AngioDynamics shares fell 3.4% on the day of the announcement, and the stock has declined 8.6% year-to-date, compared with a 19% drop for the industry and an 8.5% gain for the S&P 500. The company has a market capitalization of $502.2 million.