AngioDynamics, Inc., a leading 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, announced financial results for the fourth quarter and fiscal year 2026, ended May 31, 2026. The company delivered its seventh consecutive quarter of double-digit Med Tech segment growth and positive adjusted EBITDA, while issuing fiscal year 2027 guidance that surpasses analyst consensus estimates on net sales.

Fiscal Year 2027 Guidance

AngioDynamics issued its financial outlook for fiscal year 2027, projecting net sales between $336.0 million and $341.0 million, surpassing the analyst consensus estimate of $329.6 million. The company anticipates an adjusted loss per share in the range of $(0.29) to $(0.24), compared to the analyst estimate of $(0.16). The following table summarizes the full FY2027 guidance issued as of July 14, 2026:

For fiscal 2027, the company expects a tariff impact broadly similar to fiscal 2026, based on its current view of the tariff situation, which remains dynamic and subject to change.

Fiscal Fourth Quarter 2026 Financial Highlights

Net sales for the fourth quarter of fiscal year 2026 were $86.6 million, an increase of 8.0% compared to the prior-year quarter. Med Tech net sales were $41.8 million, a 16.7% increase from $35.8 million in the prior-year period, driven by strong performance across Auryon, Mechanical Thrombectomy, and NanoKnife platforms. Med Device net sales were $44.8 million, a 1.1% increase compared to $44.4 million in the prior-year period.

Gross margin for the fourth quarter of fiscal 2026 was 54.0%, which was 130 basis points higher compared to the fourth quarter of fiscal 2025, primarily driven by favorable pricing and the ongoing revenue mix shift toward Med Tech. The company recorded a GAAP net loss of $11.4 million, or a loss per share of $0.27, compared to a net loss of $6.1 million, or a loss per share of $0.15, a year ago. Adjusted net loss for the fourth quarter of fiscal 2026 was $2.8 million, or a loss per share of $0.07, compared to an adjusted net loss of $1.1 million, or a loss per share of $0.03, in the prior-year quarter. Adjusted EBITDA was $3.3 million, compared to $3.4 million in the fourth quarter of fiscal 2025. In the fourth quarter of fiscal 2026, the company generated $17.5 million of cash from operations.

Full-Year Fiscal 2026 Financial Highlights

For the full fiscal year 2026, pro forma net sales were $320.2 million, an increase of 9.4% compared to $292.7 million for the prior year period. Med Tech net sales were $150.0 million, an 18.4% increase from $126.7 million in the prior year. Med Device net sales were $170.2 million, an increase of 2.5% from $166.0 million in the prior year.

Gross margin increased 70 basis points to 54.6% from 53.9% in the prior year, with tariffs creating a 151-basis point headwind. The company's GAAP net loss was $36.7 million, or a loss per share of $0.88, compared to a net loss of $34.0 million, or a loss per share of $0.83, a year ago. Adjusted net loss was $10.0 million, with adjusted loss per share of $0.24, compared to adjusted net loss of $10.2 million, or adjusted loss per share of $0.25, a year ago. Tariff-related expenses were $4.8 million during the year. The company generated $3.1 million of cash from operations for the full year, and ended fiscal year 2026 with $53.9 million in cash and a debt-free balance sheet.

Clinical, Regulatory, and Market Access Highlights

During fiscal year 2026, AngioDynamics achieved several key regulatory and clinical milestones. The company received FDA IDE approval for the APEX-Return study evaluating the AlphaReturn Blood Management System when used with the AlphaVac F18⁸⁵ System, and FDA IDE approval for the PAVE clinical study evaluating the AngioVac System for treatment of right-sided infective endocarditis. The company also initiated both the AMBITION BTK and RECOVER-AV trials. In the fourth quarter, two-year follow-up data from the PRESERVE pivotal trial was presented at the American Urological Association conference, demonstrating NanoKnife's durable prostate cancer outcomes. Palmetto GBA finalized a local coverage determination covering NanoKnife IRE for qualifying Medicare patients in prostate and liver cancer, effective July 5, 2026. Subsequent to fiscal year-end, the company received FDA IDE approval for the RELIEF study evaluating NanoKnife IRE for the treatment of benign prostatic hyperplasia.

Effective January 1, 2026, Category I CPT codes for IRE procedures in the prostate and liver became active, reflecting the American Medical Association's formal recognition of the procedure and supporting standardized billing across hospital outpatient and ambulatory surgical center settings.

Management Commentary

"Our strong fourth quarter capped a year of consistent execution at AngioDynamics," said Jim Clemmer, President and Chief Executive Officer. "Full-year Med Tech growth of more than 18% reflects the continued progress of our strategic transformation, as our innovative platform technologies across cardiology and interventional oncology took share in large, fast-growing global markets. Combined with our operational discipline, that growth drove continued profitability even as we absorbed tariff-related headwinds."

Mr. Clemmer added that Med Tech represented 47% of total revenue in fiscal 2026, up approximately 22% from when the company began its strategic transformation in 2020, and noted that the company is well-positioned with a differentiated technology portfolio, multiple growth catalysts, and a debt-free balance sheet with positive cash generation.

AngioDynamics will announce its financial results for the fourth quarter and full year of fiscal 2026 before the market opens on July 14, 2026. The medical technology company, focused on vascular health and cancer treatment, will disclose its performance for the period ending in FY26. Management will discuss the findings during a conference call scheduled for 8:00 am ET on the same day.

Investors can participate in the conference call by dialing 1-877-407-0784 for domestic access or +1-201-689-8560 for international lines. The event will also be webcast live through the "Investors" section of the AngioDynamics website. A replay of the webcast will be accessible approximately one hour after the call concludes.

For those unable to attend the live session, a telephonic recording will be available until July 21, 2026, at 11:59 PM ET. Domestic listeners can dial 1-844-512-2921, while international participants should call +1-412-317-6671, using the passcode 13760636 to access the archive.

Conference Call Details