AngioDynamics, Inc. (NASDAQ: ANGO) reported fiscal year 2026 second‑quarter results that surpassed analyst expectations on both revenue and earnings. Net sales rose 8.8% to $79.4 million, driven by a 13% increase in the Med Tech segment to $35.7 million and a 5.6% rise in the Med Device segment to $43.8 million. The company’s higher‑margin Med Tech mix, which includes the Auryon atherectomy platform and the NanoKnife electroporation system, accounted for the majority of the top‑line growth.
Gross margin expanded to 56.4%, a 170‑basis‑point lift from the same period in fiscal year 2025 and a 110‑basis‑point improvement over the prior quarter. The margin gain reflects a shift toward higher‑margin Med Tech products, accelerated benefits from the manufacturing transfer program, and the adoption of a distributor model in France that reduced logistics costs. The improved margin translated into a near‑doubling of adjusted EBITDA, which reached $5.9 million from $3.1 million a year earlier.
Adjusted earnings per share were $0.00, a full‑year beat of $0.10 per share in the consensus estimate. The EPS beat was largely driven by disciplined cost control, the favorable product mix, and the elimination of one‑time restructuring charges that were present in prior periods. The company’s cash‑flow generation remained positive, underscoring the operational leverage gained from the restructuring program.
Management raised its full‑year fiscal 2026 guidance. Net sales are now expected to be $312 million to $314 million, up from the previously issued $308 million to $313 million range. Adjusted EBITDA guidance has been increased to $8 million to $10 million, reflecting confidence in continued margin expansion and demand momentum. The adjusted EPS guidance remains unchanged at a loss of $0.33 to $0.23 per share, indicating that the company expects to continue investing in growth initiatives.
CEO Jim Clemmer, who announced his retirement during fiscal year 2027, said the company “delivered strong results in the second quarter. Revenue grew 8.8% with Med Tech up 13%, and we translated that top‑line performance into improved profitability. Adjusted EBITDA nearly doubled year‑over‑year, and we generated positive cash flow.” He added that the company’s strategy to bring unique platform technologies to large, fast‑growing global markets has paid off and that he will remain in the role until a successor is appointed.
CFO Steve Trowbridge highlighted that the company’s gross margin improvement was a 170‑basis‑point increase from the second quarter of fiscal year 2025 and that the raised guidance reflects stronger demand and cost efficiencies. He noted that the company’s Med Tech revenue grew 18.6% year‑over‑year, driven by the Auryon platform’s 16.3 million in revenue. The company also acknowledged a tariff headwind of $4 million to $6 million for the full year, but emphasized that the Med Tech segment’s growth and regulatory milestones—such as 510(k) clearance for AlphaVac—provide a tailwind for future performance.
The results reinforce AngioDynamics’ transition to a high‑margin MedTech platform. The company’s debt‑free balance sheet, positive cash flow, and raised guidance suggest a strong near‑term outlook, while the CEO transition signals a planned leadership change that should not disrupt the company’s strategic trajectory.
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