AngioDynamics Q1 FY2027 net loss narrows to $7.1M
Med Tech sales grew 13.2%, while AngioDynamics reiterated fiscal 2027 guidance and reported $34.0 million in cash.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
AngioDynamics reported fiscal 2027 first-quarter net sales of $80.9 million, up 6.9% year over year. Med Tech sales increased 13.2% to $39.9 million, while Med Device sales rose 1.4% to $41.0 million. Gross margin was 59.4%, 410 basis points higher than a year earlier; GAAP net loss was $7.1 million versus $10.9 million, and adjusted EBITDA was $5.0 million versus $2.2 million. Operating cash use was $15.3 million; cash was $34.0 million with no debt at August 31, 2026.
The company reiterated fiscal 2027 guidance and expects gross margin to be lower in the second half than in the first half. Eric Honroth was appointed President and Chief Executive Officer effective November 2, 2026, succeeding Jim Clemmer, who will remain as an executive advisor. The FDA approved the IDE for the RELIEF feasibility study of NanoKnife for benign prostatic hyperplasia; the study is designed for 40 subjects at up to five U.S. sites, with a six-month symptom-score endpoint.
4 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNet sales grew 6.9% to $80.9 million year over year.
- Moderate pointGAAP net loss was $7.1 million, versus $10.9 million.
- Moderate pointAdjusted EBITDA reached $5.0 million, versus $2.2 million.
- Moderate pointGross margin increased to 59.4%, up 410 basis points year over year.
Negative
- None.
Filing Explained
The balance sheet lists cash of
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Net sales: $80.9 million
Med Tech net sales: $39.9 million
Med Device net sales: $41.0 million
+5 more
8 metrics
Net sales
$80.9 million
Fiscal first quarter 2027; up 6.9% year over year
Med Tech net sales
$39.9 million
Fiscal first quarter 2027; up 13.2% year over year
Med Device net sales
$41.0 million
Fiscal first quarter 2027; up 1.4% year over year
Gross margin
59.4%
Fiscal first quarter 2027; 410 basis points higher year over year
GAAP net loss
$7.1 million
Fiscal first quarter 2027, compared with $10.9 million in the prior-year quarter
Adjusted EBITDA
$5.0 million
Fiscal first quarter 2027, compared with $2.2 million in the prior-year quarter
Cash used in operating activities
$15.3 million
Fiscal first quarter 2027
Cash
$34.0 million
At August 31, 2026; the company also reported a debt-free balance sheet
Key Terms
Adjusted EBITDA, irreversible electroporation, atherectomy, International Prostate Symptom Score
4 terms
Adjusted EBITDA financial
"Adjusted EBITDA in the first quarter of fiscal 2027"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
irreversible electroporation medical
"NanoKnife irreversible electroporation platform"
Irreversible electroporation is a medical tissue‑ablation technique that uses short, high‑voltage electrical pulses to create permanent microscopic holes in cell membranes, causing targeted cells to die while leaving nearby structural tissue and blood vessels largely intact. Investors should care because it is a non‑thermal alternative to surgery or heat‑based ablation, so its clinical adoption, regulatory approvals, device sales, reimbursement policies and competitive position can materially affect the revenue and valuation of companies that develop or sell these medical technologies.
atherectomy medical
"Auryon peripheral atherectomy platform"
Atherectomy is a minimally invasive medical procedure that removes fatty plaque and blockages from inside an artery using a small catheter inserted through the skin; devices may cut, shave, vaporize, or suction away the material. Think of it like a plumber using a tool to scrape scale from inside a pipe so blood can flow more freely. Investors care because demand, safety and effectiveness of these devices, reimbursement rules, and procedure trends directly affect sales, regulatory risk, and future revenue for medical-device and healthcare companies.
International Prostate Symptom Score medical
"change in the International Prostate Symptom Score at six months"
Earnings Snapshot
Net sales: $80.9 million · Guidance included
Fiscal first quarter 2027 ended August 31, 2026
Net sales
$80.9 million
+6.9% year over year
Med Tech net sales
$39.9 million
+13.2% year over year
Med Device net sales
$41.0 million
+1.4% year over year
Gross margin
59.4%
+410 basis points year over year
GAAP net loss
$7.1 million
Compared with $10.9 million in the prior-year quarter
Adjusted EBITDA
$5.0 million
Compared with $2.2 million in the prior-year quarter
Guidance
Fiscal 2027 guidance reiterated: net sales $336-$341; Med Tech net sales growth 12%-15%; Med Device net sales growth flat; gross margin 54%-55%; adjusted EBITDA $13-$16; adjusted EPS ($0.29)-($0.24).
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did AngioDynamics (ANGO) perform in fiscal first-quarter 2027?
AngioDynamics reported $80.9 million in fiscal first-quarter 2027 net sales, up 6.9% year over year. Med Tech sales were $39.9 million, up 13.2%, and Med Device sales were $41.0 million, up 1.4%.
What were AngioDynamics’ earnings and cash results for Q1 FY2027?
AngioDynamics recorded a GAAP net loss of $7.1 million, versus $10.9 million in the prior-year quarter, and adjusted EBITDA of $5.0 million, versus $2.2 million. It used $15.3 million of operating cash and ended August 31, 2026 with $34.0 million in cash and no debt.
When does Eric Honroth become CEO of AngioDynamics?
Eric Honroth is to become President and Chief Executive Officer effective November 2, 2026, succeeding Jim Clemmer. Clemmer will remain with AngioDynamics as an executive advisor to support the transition.
What is the RELIEF study evaluating?
The FDA approved the IDE for RELIEF, a feasibility study evaluating NanoKnife irreversible electroporation for benign prostatic hyperplasia. It is designed to enroll 40 subjects at up to five U.S. clinical sites, measuring change in the International Prostate Symptom Score at six months.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 8, 2026
(Exact Name of Registrant as Specified in Charter)
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of Principal Executive Offices)
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(Zip Code) |
(518 ) 795-1400
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which
registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 – Results of Operations and Financial Condition.
On October 8, 2026, AngioDynamics, Inc. (“AngioDynamics”) issued a press release announcing financial results for the fiscal first quarter ended
August 31, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.
The information set forth in Item 2.02 of this Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. Furthermore, such information shall not be deemed to be incorporated by reference into any filing under the Securities Act
of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 7.01 – Regulation FD Disclosure.
Presentation slides discussing AngioDynamics and its fiscal first quarter ended August 31, 2026 are furnished herewith as Exhibit 99.2.
The presentation slides furnished pursuant to Item 7.01 of this Form 8-K (including Exhibit 99.2) shall not be deemed “filed” for purposes of
Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section. Furthermore, the presentation slides shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act.
Forward-Looking Statements
This document and its attachments contain 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 statements that include the words such as “expects,” “reaffirms,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “projects”, “optimistic,” or variations of such words and similar
expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ materially from
AngioDynamics’ expectations, expressed or implied. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the scale and scope of the COVID-19 global pandemic, the ability of AngioDynamics to develop its
existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics’ technology or assertions that AngioDynamics’ technology infringes the technology of third parties, the ability of AngioDynamics to
effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical
trials, overall economic conditions (including inflation, tariffs, labor shortages and supply chain challenges including the cost and availability of raw materials), the results of on-going litigation, challenges with respect to third-party
distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the
effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of
AngioDynamics to obtain regulatory clearances or approval of its products, or to integrate acquired businesses, as well as the risk factors listed from time to time in AngioDynamics’ SEC filings, including but not limited to its Annual Report on Form
10-K for the year ended May 31, 2026. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.
Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No.
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Description
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99.1
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Press Release, dated October 8, 2026.
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99.2
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Presentation, dated October 8, 2026.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
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ANGIODYNAMICS, INC.
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(Registrant)
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Date: October 8, 2026
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By: /s/ Lawrence T. Weiss
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Name: Lawrence T. Weiss
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Title: Senior Vice President, Chief
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Legal Officer and Corporate Secretary
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Exhibit 99.1
AngioDynamics Reports Fiscal Year 2027 First Quarter Financial Results; Continued Execution Drives Med Tech Growth and Profitability
Delivered its eighth consecutive quarter of double-digit Med Tech segment growth and positive adjusted EBITDA
LATHAM, N.Y.--(BUSINESS WIRE)— Oct. 8, 2026-- AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood
flow in the body’s vascular system, expanding cancer treatment options, and improving quality of life for patients, today announced financial results for the first quarter of fiscal year 2027, which ended August 31, 2026.
Fiscal Year 2027 First Quarter Financial Highlights
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Quarter Ended
August 31, 2026
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YoY Growth
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Net Sales
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$80.9 million
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6.9%
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Med Tech Net Sales
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$39.9 million
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13.2%
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Med Device Net Sales
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$41.0 million
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1.4%
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| • |
GAAP gross margin of 59.4%
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GAAP loss per share of $0.17
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Adjusted loss per share of $0.04
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Adjusted EBITDA of $5.0 million
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Announced the appointment of Eric Honroth as President and Chief Executive Officer, effective November 2, 2026, succeeding Jim Clemmer
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Received FDA IDE (Investigational Device Exemption) approval for the RELIEF study evaluating NanoKnife IRE for the treatment of benign prostatic hyperplasia
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“Our first quarter results reflect the continued, consistent execution we’ve built into this business,” said Jim Clemmer, President and Chief
Executive Officer of AngioDynamics. “Med Tech again led our growth, highlighted by Auryon’s 21st consecutive quarter of double-digit atherectomy growth, continued performance in Mechanical Thrombectomy, and ongoing strength in our
NanoKnife oncology platform. We remain focused on the fundamentals that have driven our performance over the past several years, and we’re confident in our ability to deliver on the outlook we’ve laid out for fiscal 2027.”
Mr. Clemmer continued, “As I shared previously, after ten years leading this company, I have decided to retire, and the Board has completed a
comprehensive search for my successor. I’m pleased to share that Eric Honroth will become our next President and Chief Executive Officer. He brings the right experience and leadership to build on the foundation we’ve established, and I will remain
closely involved to ensure a smooth transition.”
Fiscal First Quarter 2027 Financial Results
Net sales for the first quarter of fiscal year 2027 were $80.9 million, an increase of 6.9% compared to the prior-year quarter.
Med Tech net sales were $39.9 million, a 13.2% increase from $35.3 million in the prior-year period. Med Tech includes the Auryon peripheral
atherectomy platform, our thrombus management platform which is led by AlphaVac and AngioVac, and the NanoKnife irreversible electroporation platform.
Growth during the quarter was driven by solid performance across the Med Tech segment. Auryon sales were $18.9 million, an increase of 14.7%
compared to the prior-year quarter.
In our Mechanical Thrombectomy business, AlphaVac sales grew 37.4% compared to the prior year quarter and 6.4% sequentially. AngioVac faced a
tough comparison, declining 5.9% versus prior year and yet growing 9.1% sequentially. Overall, Mechanical Thrombectomy delivered sales of $12.0 million, an increase of 6.7% compared to the prior-year quarter. NanoKnife sales were $8.3 million, an
increase of 29.0% compared to the prior-year quarter, driven primarily by continued demand for prostate procedures, including 24.1% growth in probes and 53.5% growth in capital sales.
Med Device net sales were $41.0 million, a 1.4% increase compared to $40.4 million in the prior-year period.
Gross margin for the first quarter of fiscal 2027 was 59.4%, which was 410 basis
points higher compared to the first quarter of fiscal 2026, primarily driven by favorable pricing and the ongoing revenue mix shift toward Med Tech, partially offset by the manufacturing transition and global inflation all of which were in-line
with the Company’s expectations. Gross margin also benefited from tariff refunds received during the quarter; absent this benefit, gross margin would have been 57.8%. As previously stated, the Company expects gross margin to be lower in the second half of fiscal 2027 than in the first half.
The Company recorded a GAAP net loss of $7.1 million, or a loss per share of $0.17, in the first quarter of fiscal 2027, compared to a net loss of
$10.9 million, or a loss per share of $0.26, a year ago. Excluding the items shown in the non-GAAP reconciliation table below, adjusted net loss for the first quarter of fiscal 2027 was $1.8 million, or a loss per share of $0.04. This compares to
an adjusted net loss during the fiscal first quarter of 2026 of $4.2 million, or a loss per share of $0.10.
Adjusted EBITDA in the first quarter of fiscal 2027, excluding the items shown in the non-GAAP reconciliation table below, was $5.0 million,
compared to $2.2 million in the first quarter of fiscal 2026.
Tariff-related expenses were $0.9 million during the quarter, compared to $1.7 million for the prior year quarter, in line with the Company’s
expectations. Additionally, the Company received $1.2 million of tariff refunds during the quarter, resulting in net tariff benefit of $0.4 million.
2
In the first quarter of fiscal 2027, the Company used $15.3 million of cash from operations, compared to $15.9 million in the first quarter of
fiscal 2026.
At August 31, 2026, the Company had $34.0 million in cash and maintains a debt-free balance sheet.
CEO Update
The Company announced earlier today that Eric Honroth has been appointed President and Chief Executive Officer, effective November 2, 2026,
succeeding Jim Clemmer. The appointment follows a comprehensive search process led by the Board of Directors. Mr. Clemmer, who announced his intention to retire after ten years leading the Company, will remain with AngioDynamics as an executive
advisor to support a smooth transition. Additional information is available in the Company’s separate press release announcing the appointment.
FDA IDE Approval for RELIEF BPH Study
The Company received FDA approval of its IDE for the RELIEF study, a feasibility trial evaluating NanoKnife IRE for the treatment of benign
prostatic hyperplasia. The study is designed to enroll 40 subjects at up to five U.S. clinical sites, with a primary endpoint measuring change in the International Prostate Symptom Score at six months. RELIEF extends the NanoKnife IRE platform beyond
oncology into one of the most common conditions affecting men’s health. The Company views the study as an important step in expanding the long-term addressable market for its IRE technology.
Fiscal Year 2027 Financial Guidance
Based on its first quarter performance and current outlook for the remainder of the fiscal year, the Company is reiterating its previously issued
fiscal year 2027 guidance, as outlined below.
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Guidance Metric
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Guidance
(As of October 8, 2026)
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Net Sales
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$336.0M - $341.0M
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Med Tech Net Sales Growth
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12% – 15%
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Med Device Net Sales Growth
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Flat
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Gross Margin
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54% – 55%
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Adjusted EBITDA
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$13.0M - $16.0M
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Adjusted EPS
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($0.29) – ($0.24)
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3
Tariff Related Guidance Assumptions
For fiscal 2027, the Company expects a tariff impact broadly similar to fiscal 2026, (excluding any tariff refunds) based on its current view of
the tariff situation, which remains dynamic and subject to change.
Conference Call
The Company’s management will host a conference call at 8:00 am ET on the date of this announcement to discuss the results.
To participate in the conference call, dial 1-877-407-0784 (domestic) or +1-201-689-8560 (international). This conference call will also be
webcast and can be accessed from the “Investors” section of the AngioDynamics website at www.angiodynamics.com. The webcast replay of the call will be available at the same site approximately one hour after the end of the call.
Use of Non-GAAP Measures
Management uses non-GAAP measures to establish operational goals and believes that non-GAAP measures may assist investors in analyzing the
underlying trends in AngioDynamics’ business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news
release, AngioDynamics has reported adjusted EBITDA, adjusted net income and adjusted earnings per share. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide
investors with useful information in comparing AngioDynamics’ performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics’ underlying business.
Management encourages investors to review AngioDynamics’ financial results prepared in accordance with GAAP to understand AngioDynamics’ performance taking into account all relevant factors, including those that may only occur from time to time but
have a material impact on AngioDynamics’ financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.
About AngioDynamics, Inc.
AngioDynamics is a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system,
expanding cancer treatment options and improving quality of life for patients.
The Company’s innovative technologies and
devices are chosen by talented physicians in fast-growing healthcare markets to treat unmet patient needs. For more information, visit www.angiodynamics.com.
4
Safe Harbor
This release 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 statements that include the words such as “expects,” “reaffirms,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “optimistic,” or variations of such words and similar
expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ materially from
AngioDynamics’ expectations, expressed or implied. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the scale and scope of the COVID-19 global pandemic, the ability of AngioDynamics to develop its
existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics’ technology or assertions that AngioDynamics’ technology infringes the technology of third parties, the ability of AngioDynamics to
effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical
trials, overall economic conditions (including inflation, tariffs, labor shortages and supply chain challenges including the cost and availability of raw materials), the results of on-going litigation, challenges with respect to third-party
distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the
effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of
AngioDynamics to obtain regulatory clearances or approval of its products, or to integrate acquired businesses, as well as the risk factors listed from time to time in AngioDynamics’ SEC filings, including but not limited to its Annual Report on
Form 10-K for the year ended May 31, 2026. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.
5
ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share data)
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Three Months Ended
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||||||||
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Aug 31, 2026
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Aug 31, 2025
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|||||||
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(unaudited)
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(unaudited)
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|||||||
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Net sales
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$
|
80,915
|
$
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75,711
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||||
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Cost of sales (exclusive of intangible amortization)
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32,875
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33,854
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||||||
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Gross margin
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48,040
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41,857
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||||||
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% of net sales
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59.4
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%
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55.3
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%
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||||
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Operating expenses
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||||||||
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Research and development
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7,979
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6,417
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||||||
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Sales and marketing
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29,986
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28,130
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||||||
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General and administrative
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12,467
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12,555
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||||||
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Amortization of intangibles
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2,729
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2,653
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||||||
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Acquisition, restructuring and other items, net
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2,181
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2,758
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||||||
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Total operating expenses
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55,342
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52,513
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||||||
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Operating loss
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(7,302
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)
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(10,656
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)
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||||
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Interest expense, net
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(88
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)
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(4
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)
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||||
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Other income (expense), net
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94
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(178
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)
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|||||
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Total other income (expense), net
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6
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(182
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)
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|||||
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Loss before income tax (benefit) expense
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(7,296
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)
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(10,838
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)
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||||
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Income tax (benefit) expense
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(199
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)
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65
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|||||
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Net loss
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$
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(7,097
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)
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$
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(10,903
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)
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||
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Loss per share
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||||||||
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Basic
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$
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(0.17
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)
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$
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(0.26
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)
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||
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Diluted
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$
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(0.17
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)
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$
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(0.26
|
)
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||
|
Weighted average shares outstanding
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||||||||
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Basic
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42,022
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41,174
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||||||
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Diluted
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42,022
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41,174
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||||||
6
ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
(in thousands, except per share data)
Reconciliation of Net Loss to non-GAAP Adjusted Net Loss:
|
Three Months Ended
|
||||||||
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Aug 31, 2026
|
Aug 31, 2025
|
|||||||
|
(unaudited)
|
(unaudited)
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|||||||
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Net loss
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$
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(7,097
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)
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$
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(10,903
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)
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||
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Amortization of intangibles
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2,729
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2,653
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||||||
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Acquisition, restructuring and other items, net (1)
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2,181
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2,758
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||||||
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Tax effect of non-GAAP items (2)
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350
|
1,313
|
||||||
|
Adjusted net loss
|
$
|
(1,837
|
)
|
$
|
(4,179
|
)
|
||
|
Three Months Ended
|
||||||||
|
Aug 31, 2026
|
Aug 31, 2025
|
|||||||
|
(unaudited)
|
(unaudited)
|
|||||||
|
Diluted loss per share
|
$
|
(0.17
|
)
|
$
|
(0.26
|
)
|
||
|
Amortization of intangibles
|
0.06
|
0.06
|
||||||
|
Acquisition, restructuring and other items, net (1)
|
0.05
|
0.07
|
||||||
|
Tax effect of non-GAAP items (2)
|
0.02
|
0.03
|
||||||
|
Adjusted diluted loss per share
|
$
|
(0.04
|
)
|
$
|
(0.10
|
)
|
||
|
|
||||||||
|
Adjusted diluted sharecount (3)
|
42,022
|
41,174
|
||||||
|
(1)
|
Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items.
|
|
(2)
|
Adjustment to reflect the income tax provision on a non-GAAP basis has been calculated assuming no valuation allowance on the Company’s U.S. deferred tax assets and an effective
tax rate of 23% for the periods ended August 31, 2026 and 2025.
|
|
(3)
|
Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP loss.
|
7
ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION (Continued)
(in thousands, except per share data)
Reconciliation of Net Loss to Adjusted EBITDA:
|
Three Months Ended
|
||||||||
|
Aug 31, 2026
|
Aug 31, 2025
|
|||||||
|
(unaudited)
|
(unaudited)
|
|||||||
|
Net loss
|
$
|
(7,097
|
)
|
$
|
(10,903
|
)
|
||
|
Income tax (benefit) expense
|
(199
|
)
|
65
|
|||||
|
Interest expense, net
|
88
|
4
|
||||||
|
Depreciation and amortization
|
5,498
|
5,950
|
||||||
|
Stock based compensation
|
4,502
|
4,470
|
||||||
|
Acquisition, restructuring and other items, net (1)
|
2,181
|
2,574
|
||||||
|
Adjusted EBITDA
|
$
|
4,973
|
$
|
2,160
|
||||
|
(1)
|
Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items.
|
8
ANGIODYNAMICS, INC. AND SUBSIDIARIES
ACQUISITION, RESTRUCTURING, AND OTHER ITEMS, NET DETAIL
(in thousands)
|
Three Months Ended
|
||||||||
|
Aug 31, 2026
|
Aug 31, 2025
|
|||||||
|
(unaudited)
|
(unaudited)
|
|||||||
|
Legal (1)
|
$
|
406
|
$
|
213
|
||||
|
Plant closure (2)
|
617
|
2,345
|
||||||
|
Transition service agreement (3)
|
—
|
(302
|
)
|
|||||
|
CEO transition (4)
|
770
|
—
|
||||||
|
Other
|
388
|
502
|
||||||
|
Total
|
$
|
2,181
|
$
|
2,758
|
||||
|
(1)
|
Legal expenses related to litigation that is outside the normal course of business.
|
|
(2)
|
Plant closure expense, related to the restructuring of our manufacturing footprint which was announced on January 5, 2024.
|
|
(3)
|
Transition services agreements that were entered into with Merit and Spectrum.
|
|
(4)
|
CEO retirement and transition expenses related to the CEO search and retention agreements with the Company’s executive leadership team.
|
9
ANGIODYNAMICS, INC. AND SUBSIDIARIES
NET SALES BY PRODUCT CATEGORY AND BY GEOGRAPHY
(in thousands)
|
Three Months Ended
|
||||||||||||
|
Aug 31, 2026
|
Aug 31, 2025
|
% Growth
|
||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||
|
Net Sales
|
||||||||||||
|
Med Tech
|
$
|
39,916
|
$
|
35,261
|
13.2
|
%
|
||||||
|
Med Device
|
40,999
|
40,450
|
1.4
|
%
|
||||||||
|
$
|
80,915
|
$
|
75,711
|
6.9
|
%
|
|||||||
|
Net Sales
|
||||||||||||
|
United States
|
$
|
71,068
|
$
|
66,456
|
6.9
|
%
|
||||||
|
International
|
9,847
|
9,255
|
6.4
|
%
|
||||||||
|
$
|
80,915
|
$
|
75,711
|
6.9
|
%
|
|||||||
GROSS MARGIN BY PRODUCT CATEGORY
(in thousands)
|
Three Months Ended
|
||||||||||||
|
Aug 31, 2026
|
Aug 31, 2025
|
% Change
|
||||||||||
|
(unaudited)
|
(unaudited)
|
|||||||||||
|
Med Tech
|
$
|
26,424
|
$
|
21,922
|
20.5
|
%
|
||||||
|
Gross margin % of sales
|
66.2
|
%
|
62.2
|
%
|
||||||||
|
Med Device
|
$
|
21,616
|
$
|
19,935
|
8.4
|
%
|
||||||
|
Gross margin % of sales
|
52.7
|
%
|
49.3
|
%
|
||||||||
|
Total
|
$
|
48,040
|
$
|
41,857
|
14.8
|
%
|
||||||
|
Gross margin % of sales
|
59.4
|
%
|
55.3
|
%
|
||||||||
10
ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
|
Aug 31, 2026
|
May 31, 2026
|
|||||||
|
(unaudited)
|
(audited)
|
|||||||
|
Assets
|
||||||||
|
Current assets:
|
||||||||
|
Cash
|
$
|
33,973
|
$
|
53,864
|
||||
|
Accounts receivable, net
|
44,905
|
48,325
|
||||||
|
Inventories
|
54,953
|
52,436
|
||||||
|
Prepaid expenses and other
|
9,172
|
8,769
|
||||||
|
Total current assets
|
143,003
|
163,394
|
||||||
|
Property, plant and equipment, net
|
27,728
|
27,097
|
||||||
|
Other assets
|
9,308
|
9,463
|
||||||
|
Intangible assets, net
|
61,894
|
67,209
|
||||||
|
Total assets
|
$
|
241,933
|
$
|
267,163
|
||||
|
Liabilities and stockholders’ equity
|
||||||||
|
Current liabilities:
|
||||||||
|
Accounts payable
|
$
|
26,579
|
$
|
31,513
|
||||
|
Accrued liabilities
|
28,811
|
38,909
|
||||||
|
Other current liabilities
|
4,299
|
4,295
|
||||||
|
Total current liabilities
|
59,689
|
74,717
|
||||||
|
Deferred income taxes
|
4,680
|
5,316
|
||||||
|
Other long-term liabilities
|
13,601
|
16,305
|
||||||
|
Total liabilities
|
77,970
|
96,338
|
||||||
|
Stockholders’ equity
|
163,963
|
170,825
|
||||||
|
Total Liabilities and Stockholders’ Equity
|
$
|
241,933
|
$
|
267,163
|
||||
11
ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
|
Three Months Ended
|
||||||||
|
Aug 31, 2026
|
Aug 31, 2025
|
|||||||
|
(unaudited)
|
(unaudited)
|
|||||||
|
Cash flows from operating activities:
|
||||||||
|
Net loss
|
$
|
(7,097
|
)
|
$
|
(10,903
|
)
|
||
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
|
Depreciation and amortization
|
5,498
|
5,950
|
||||||
|
Non-cash lease expense
|
366
|
445
|
||||||
|
Non-cash interest expense
|
72
|
70
|
||||||
|
Stock based compensation
|
4,502
|
4,470
|
||||||
|
Deferred income taxes
|
(306
|
)
|
(16
|
)
|
||||
|
Change in accounts receivable allowances
|
(57
|
)
|
108
|
|||||
|
Fixed and intangible asset disposals
|
81
|
(27
|
)
|
|||||
|
Other
|
(707
|
)
|
264
|
|||||
|
Changes in operating assets and liabilities:
|
||||||||
|
Accounts receivable
|
3,471
|
139
|
||||||
|
Inventories
|
(2,715
|
)
|
(192
|
)
|
||||
|
Prepaid expenses and other
|
(1,019
|
)
|
(5,525
|
)
|
||||
|
Accounts payable, accrued and other liabilities
|
(17,419
|
)
|
(10,697
|
)
|
||||
|
Net cash used in operating activities
|
(15,330
|
)
|
(15,914
|
)
|
||||
|
Cash flows from investing activities:
|
||||||||
|
Additions to property, plant and equipment
|
(379
|
)
|
(731
|
)
|
||||
|
Additions to placement and evaluation units
|
(2,769
|
)
|
(820
|
)
|
||||
|
Net cash used in investing activities
|
(3,148
|
)
|
(1,551
|
)
|
||||
|
Cash flows from financing activities:
|
||||||||
|
Principal payments on finance arrangements
|
(99
|
)
|
(91
|
)
|
||||
|
Proceeds (outlays) from issuances of shares of common stock
|
(1,276
|
)
|
234
|
|||||
|
Net cash (used in) provided by financing activities
|
(1,375
|
)
|
143
|
|||||
|
Effect of exchange rate changes on cash and cash equivalents
|
(38
|
)
|
191
|
|||||
|
Decrease in cash
|
(19,891
|
)
|
(17,131
|
)
|
||||
|
Cash at beginning of period
|
53,864
|
55,893
|
||||||
|
Cash at end of period
|
$
|
33,973
|
$
|
38,762
|
||||
12
Exhibit 99.2
