AngioDynamics (ANGO) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 FY26 were $79.4 million, up 8.8%–9.0% year-over-year, with Med Tech up 13.0% and Med Device up 5.6%.

• Adjusted EBITDA nearly doubled to $5.9 million, and the company generated $4.7 million in cash, ending the quarter with $41.6 million and no debt.

• Gross margin improved to 56.4%, up 160–170 basis points year-over-year.

• Full-year guidance for revenue and adjusted EBITDA was raised due to strong performance.

• CEO Jim Clemmer announced plans to retire during fiscal 2027, with a search for his successor underway.

Financial highlights

• Med Tech sales were $35.7 million (+13.0% YoY), Med Device $43.8 million (+5.6% YoY); Auryon up 18.6%, NanoKnife up 22.2%.

• Med Tech gross margin was 65.3%, Med Device 49.1%.

• Adjusted net loss narrowed to $0.1 million (loss per share $0.00–$0.001); GAAP net loss was $6.4 million (loss per share $0.15).

• Operating expenses were $50.9 million, nearly flat year-over-year.

• Cash and equivalents at quarter-end were $41.6 million, with $4.7 million generated in the quarter.

Outlook and guidance

• FY26 net sales guidance raised to $312–$314 million, with Med Tech growth of 14–16% and Med Device 0–1%.

• Gross margin guidance remains 53.5%–55.5%, including a $4–$6 million tariff impact.

• Adjusted EBITDA guidance increased to $8–$10 million; adjusted loss per share unchanged at $(0.33)–$(0.23).

• Free cash flow expected to be positive for the full year.

• Adjusted EBITDA expected to be lower in the second half due to increased investment in clinical data development.