AngioDynamics (ANGO) Q3 2026 earnings summary

Executive summary

• Achieved strong third quarter results with 8.9% revenue growth year-over-year to $78.4 million, led by Med Tech segment growth of 19% and continued double-digit expansion in Auryon, AlphaVac, and NanoKnife platforms.

• Raised full-year FY 2026 guidance for net sales and adjusted EBITDA for the third consecutive quarter.

• Maintained a strong balance sheet with $37.8 million in cash and no debt at quarter-end.

• Leadership transition underway, with CEO retirement and executive search process initiated.

• Major litigation settlement and ongoing restructuring activities impacted results.

Financial highlights

• Q3 FY26 net sales were $78.4 million, up 8.9% year-over-year; Med Tech sales rose 19% to $37.3 million, Med Device sales increased 1.1% to $41.1 million.

• Mechanical Thrombectomy revenue increased 17.9% to $11.5 million; AlphaVac up 47.4% year-over-year; NanoKnife revenue rose 21% to $7.6 million.

• Gross margin was 52.9%, down 110 basis points year-over-year due to tariffs, inflation, and manufacturing transition costs; Med Tech gross margin 62.5%, Med Device 44.2%.

• Adjusted EBITDA improved to $1.8 million from $1.3 million year-over-year; adjusted net loss was $3.0 million ($0.07/share), while GAAP net loss was $8.1 million ($0.19/share).

• Operating expenses for the quarter were $54.4 million, up from $48.8 million, mainly due to higher sales, marketing, and restructuring costs.

Outlook and guidance

• FY26 net sales guidance raised to $313.5–$315.5 million, with Med Tech segment sales growth expected at 15–17% and Med Device at ~1%.

• Gross margin guidance unchanged at 53.5%–55.5%, inclusive of $4–$6 million tariff impact.

• Adjusted EBITDA guidance increased to $10–$12 million; adjusted loss per share improved to $0.30–$0.23.

• Cash flow for FY26 may be slightly negative due to inventory build ahead of vendor sterilization shutdowns, but positive cash generation expected in Q4.

• Management expects continued growth through geographic expansion, new product introductions, and increased international presence.