AngioDynamics (ANGO) 25th Annual Needham Virtual Healthcare Conference summary

Strategic transformation and financial position

• Completed three divestitures to exit commoditized segments and focus on high-growth areas.

• Maintains a strong balance sheet with no debt and significant cash, enabling strategic flexibility.

• MedTech segment has grown at a 25% CAGR and is approaching 50% of total revenue.

• Raised guidance for the third time this year, with MedTech growing nearly 20% and MedDevice above flat.

• Ongoing portfolio management may lead to further MedDevice divestitures to become a more focused pure play.

Product innovation and market expansion

• Focused on cardiovascular disease and cancer, the two leading global causes of mortality.

• Auryon laser system has moved from sixth to third in market share for peripheral arterial disease, with global expansion underway.

• AlphaVac device, supported by the APEX trial, is gaining share in the pulmonary embolism (PE) market and is designed for efficient, safe clot removal.

• NanoKnife, cleared by the FDA and with a new CPT I code, targets intermediate-risk prostate cancer with minimal side effects and is expanding into BPH treatment.

• All three flagship devices are accretive to gross margins and support reinvestment in R&D and commercial expansion.

Competitive landscape and growth opportunities

• Competes with larger and smaller firms in high-value markets, leveraging product differentiation and clinical evidence.

• Recent acquisitions of competitors by large strategics have created talent and market share opportunities.

• Actively exploring label expansions for Auryon (coronary and IVL markets) and NanoKnife (BPH), with ongoing regulatory and clinical studies.

• Open to small, adjacent M&A but focused on organic growth through existing platforms.

• Pipeline and market development efforts aim to expand TAMs and drive long-term top and bottom-line growth.