AngioDynamics (ANGO) Q3 2025 earnings summary

Executive summary

• Q3 FY2025 net sales reached $72.0M, up 9.2% year-over-year on a pro forma basis, driven by Med Tech segment growth of 22.2% and Med Device growth of 0.9%.

• Med Tech platforms (Auryon, AngioVac, AlphaVac, NanoKnife) all posted double-digit growth; AlphaVac sales surged 161.4%.

• Gross margin improved to 54.0%, up 290 bps year-over-year, with Med Tech gross margin at 62.5%.

• Adjusted EBITDA was $1.3M, a turnaround from a $3.6M loss in Q3 FY2024; adjusted net loss narrowed to $3.1M ($0.08/share) from $6.5M ($0.16/share) year-over-year.

• Raised FY2025 guidance for net sales, Med Tech growth, gross margin, adjusted EBITDA, and adjusted EPS.

Financial highlights

• Q3 FY2025 pro forma net sales: $72.0M (+9.2% YoY); Med Tech: $31.3M (+22.2% YoY); Med Device: $40.7M (+0.9% YoY).

• Q3 gross profit: $38.9M (54.0% margin); nine months: $115.5M (54.4% margin).

• GAAP net loss: $4.4M ($0.11/share); adjusted net loss: $3.1M ($0.08/share).

• Adjusted EBITDA: $1.3M vs. ($3.6M) loss in prior year.

• Cash and equivalents at quarter-end: $44.8M; expected to end FY2025 at ~$55M.

Outlook and guidance

• FY2025 net sales now expected at $285–$288M (5.3–6.4% YoY growth), up from prior $282–$288M.

• Med Tech net sales growth forecast raised to 14–16%; Med Device sales expected flat.

• Gross margin guidance increased to 53–54%; adjusted EBITDA now expected at $4.0–$5.0M.

• Adjusted loss per share guidance improved to $0.31–$0.34.

• On track for positive operating cash flow in Q4 FY2025 and full-year FY2026.