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ANGO Stock Up in Pre-Market Post Q3 Earnings Beat, Gross Margin Down
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Key Takeaways
ANGO posted a narrower adjusted loss and beat revenue expectations in the third quarter of fiscal 2026.
AngioDynamics' Med Tech sales grew strongly, led by Auryon, thrombectomy platforms and NanoKnife.
ANGO lifted full-year sales outlook and tightened loss guidance, while pro forma gross margin fell.
AngioDynamics, Inc. (ANGO - Free Report) reported an adjusted loss per share of 7 cents for third-quarter fiscal 2026, narrower than the year-ago quarter’s adjusted loss per share of 8 cents and the Zacks Consensus Estimate of a loss of 11 cents.
GAAP loss per share was 19 cents, wider than the year-ago period’s 11 cents.
ANGO’s Revenue Details
Revenues in the fiscal third quarter totaled $78.4 million, up 8.9% year over year both on a reported and pro forma basis. The top line outpaced the Zacks Consensus Estimate by 1.4%.
The company continued to see strong contributions from its Med Tech (which includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform) and Med Device businesses during the quarter.
Shares of this company gained nearly 1.1% in today’s pre-market trading.
AngioDynamics’ Geographical Analysis
In the quarter under review, U.S. net revenues totaled $67.3 million, up 9.7% year over year both on a reported and pro forma basis. This figure compares to our U.S. net revenues’ fiscal third-quarter projection of $65.7 million.
International revenues came in at $11.1 million, up 4.5% from the year-ago quarter, both on a reported and pro forma basis. This figure compares to our fiscal third-quarter International revenues’ projection of $11.1 million.
ANGO’s Segmental Analysis
AngioDynamics derives revenues from two businesses — Med Tech and Med Device.
The Med Tech business’ net sales in the fiscal third quarter were $37.3 million, reflecting an uptick of 18.9% year over year both on a reported and pro forma basis. This figure compares to our fiscal third-quarter Med Tech business’ net sales projection of $36.4 million.
The rise was primarily on the back of increased net sales of Auryon, amounting to $16.3 million (up 17.9% year over year), Mechanical Thrombectomy revenues (which includes AngioVac and AlphaVac) of $11.5 million (up 17.9% year over year) and NanoKnife sales of $7.6 million (up 21% year over year). In the quarter, AngioVac revenues were $7.2 million (up 5% year over year) and AlphaVac revenues were $4.4 million (up 47.4% year over year). Total NanoKnife revenues included 20% growth in probes and 24.9% growth in capital sales.
Med Device revenues in the fiscal third quarter grossed $41.1 million (up 1.2% from the year-ago period) and $40.7 million (up 1.1%) on a reported and pro forma basis, respectively. This figure compares to our fiscal third-quarter Med Device business’ net sales projection of $40.4 million.
AngioDynamics, Inc. Price, Consensus and EPS Surprise
In the quarter under review, AngioDynamics’ pro forma gross profit rose 6.7% to $41.5 million. However, the pro forma gross margin contracted 107 basis points to 52.9%. We had projected a pro forma gross margin of 54.9% for third-quarter fiscal 2026.
Sales and marketing expenses on a pro forma basis increased 7.6% to $27.4 million year over year. Research and development expenses on a pro forma basis increased 2.5% year over year to $7.1 million, whereas general and administrative expenses on a pro forma basis increased 2.2% to $10.7 million. On a pro forma basis, adjusted operating expenses of $45.2 million increased 5.4% year over year.
The adjusted operating loss on a pro forma basis totaled $3.8 million compared with the prior-year quarter’s loss of $4 million.
ANGO’s Cash Position
AngioDynamics exited third-quarter fiscal 2026 with cash and cash equivalents of $37.8 million compared with $41.6 million at the fiscal second-quarter-end.
The company ended the quarter with no debt on its balance sheet.
Cumulative net cash used in operating activities at the end of third-quarter fiscal 2026 was $14.4 million compared with $28.9 million a year ago.
AngioDynamics’ FY26 Guidance
AngioDynamics has revised its guidance for fiscal 2026.
The company now expects its net sales to be in the range of $313.5 million-$315.5 million, up from the prior outlook of revenues between $312 million and $314 million. The Zacks Consensus Estimate is currently pegged at $313.2 million.
AngioDynamics now expects its Med Tech revenue growth to be in the range of 15%-17%, up from the prior growth projections of 14%-16% from the comparable fiscal 2025 period.
Med Device revenue growth is now projected to be approximately 1% compared with the earlier growth projection of 0%-1% from the comparable fiscal 2025 period.
The adjusted loss per share is now projected to be between 30 and 23 cents, narrowed from the earlier projections of 33 and 23 cents. The Zacks Consensus Estimate is currently pegged at a loss of 27 cents per share.
Our Take on ANGO
AngioDynamics exited the third quarter of fiscal 2026 with narrower-than-expected adjusted loss per share and better-than-expected revenues. The uptick in overall revenues and geographical revenues, both on a reported and pro forma basis, looked promising. The robust performance of both segments was also impressive. Robust Auryon, AngioVac, AlphaVac and NanoKnife sales were also recorded during the quarter.
Per management, ANGO’s mechanical thrombectomy portfolio exhibited strong performance during the quarter as commercial adoption continued to build with both AlphaVac and AngioVac.
However, dismal bottom-line results were disappointing. The pro-forma gross margin contraction does not bode well.
AngioDynamics’ Zacks Rank & Key Picks
ANGO currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space that are expected to report earnings soon are Globus Medical, Inc. (GMED - Free Report) , DaVita Inc. (DVA - Free Report) and GE HealthCare Technologies Inc. (GEHC - Free Report) .
The Zacks Consensus Estimate for Globus Medical’s first-quarter 2026 adjusted earnings per share (EPS) is currently pegged at 92 cents. The consensus estimate for revenues is pegged at $728.9 million. GMED currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Globus Medical has an estimated long-term growth rate of 9.6%. GMED’s earnings yield of 5.1% compares favorably with the industry’s negative yield.
DaVita currently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $2.41. The same for revenues is pegged at $3.30 billion.
DaVita has an estimated long-term growth rate of 20.2%. DVA’s earnings yield of 9.7% compares favorably with the industry’s 5.7%.
GE HealthCare currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.07. The same for its revenues is pegged at $5.06 billion.
GE HealthCare has an estimated long-term growth rate of 9.1%. GEHC’s earnings yield of 7.1% compares favorably with the industry’s 2.4%.
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ANGO Stock Up in Pre-Market Post Q3 Earnings Beat, Gross Margin Down
Key Takeaways
AngioDynamics, Inc. (ANGO - Free Report) reported an adjusted loss per share of 7 cents for third-quarter fiscal 2026, narrower than the year-ago quarter’s adjusted loss per share of 8 cents and the Zacks Consensus Estimate of a loss of 11 cents.
GAAP loss per share was 19 cents, wider than the year-ago period’s 11 cents.
ANGO’s Revenue Details
Revenues in the fiscal third quarter totaled $78.4 million, up 8.9% year over year both on a reported and pro forma basis. The top line outpaced the Zacks Consensus Estimate by 1.4%.
The company continued to see strong contributions from its Med Tech (which includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform) and Med Device businesses during the quarter.
Shares of this company gained nearly 1.1% in today’s pre-market trading.
AngioDynamics’ Geographical Analysis
In the quarter under review, U.S. net revenues totaled $67.3 million, up 9.7% year over year both on a reported and pro forma basis. This figure compares to our U.S. net revenues’ fiscal third-quarter projection of $65.7 million.
International revenues came in at $11.1 million, up 4.5% from the year-ago quarter, both on a reported and pro forma basis. This figure compares to our fiscal third-quarter International revenues’ projection of $11.1 million.
ANGO’s Segmental Analysis
AngioDynamics derives revenues from two businesses — Med Tech and Med Device.
The Med Tech business’ net sales in the fiscal third quarter were $37.3 million, reflecting an uptick of 18.9% year over year both on a reported and pro forma basis. This figure compares to our fiscal third-quarter Med Tech business’ net sales projection of $36.4 million.
The rise was primarily on the back of increased net sales of Auryon, amounting to $16.3 million (up 17.9% year over year), Mechanical Thrombectomy revenues (which includes AngioVac and AlphaVac) of $11.5 million (up 17.9% year over year) and NanoKnife sales of $7.6 million (up 21% year over year). In the quarter, AngioVac revenues were $7.2 million (up 5% year over year) and AlphaVac revenues were $4.4 million (up 47.4% year over year). Total NanoKnife revenues included 20% growth in probes and 24.9% growth in capital sales.
Med Device revenues in the fiscal third quarter grossed $41.1 million (up 1.2% from the year-ago period) and $40.7 million (up 1.1%) on a reported and pro forma basis, respectively. This figure compares to our fiscal third-quarter Med Device business’ net sales projection of $40.4 million.
AngioDynamics, Inc. Price, Consensus and EPS Surprise
AngioDynamics, Inc. price-consensus-eps-surprise-chart | AngioDynamics, Inc. Quote
AngioDynamics’ Margin Analysis
In the quarter under review, AngioDynamics’ pro forma gross profit rose 6.7% to $41.5 million. However, the pro forma gross margin contracted 107 basis points to 52.9%. We had projected a pro forma gross margin of 54.9% for third-quarter fiscal 2026.
Sales and marketing expenses on a pro forma basis increased 7.6% to $27.4 million year over year. Research and development expenses on a pro forma basis increased 2.5% year over year to $7.1 million, whereas general and administrative expenses on a pro forma basis increased 2.2% to $10.7 million. On a pro forma basis, adjusted operating expenses of $45.2 million increased 5.4% year over year.
The adjusted operating loss on a pro forma basis totaled $3.8 million compared with the prior-year quarter’s loss of $4 million.
ANGO’s Cash Position
AngioDynamics exited third-quarter fiscal 2026 with cash and cash equivalents of $37.8 million compared with $41.6 million at the fiscal second-quarter-end.
The company ended the quarter with no debt on its balance sheet.
Cumulative net cash used in operating activities at the end of third-quarter fiscal 2026 was $14.4 million compared with $28.9 million a year ago.
AngioDynamics’ FY26 Guidance
AngioDynamics has revised its guidance for fiscal 2026.
The company now expects its net sales to be in the range of $313.5 million-$315.5 million, up from the prior outlook of revenues between $312 million and $314 million. The Zacks Consensus Estimate is currently pegged at $313.2 million.
AngioDynamics now expects its Med Tech revenue growth to be in the range of 15%-17%, up from the prior growth projections of 14%-16% from the comparable fiscal 2025 period.
Med Device revenue growth is now projected to be approximately 1% compared with the earlier growth projection of 0%-1% from the comparable fiscal 2025 period.
The adjusted loss per share is now projected to be between 30 and 23 cents, narrowed from the earlier projections of 33 and 23 cents. The Zacks Consensus Estimate is currently pegged at a loss of 27 cents per share.
Our Take on ANGO
AngioDynamics exited the third quarter of fiscal 2026 with narrower-than-expected adjusted loss per share and better-than-expected revenues. The uptick in overall revenues and geographical revenues, both on a reported and pro forma basis, looked promising. The robust performance of both segments was also impressive. Robust Auryon, AngioVac, AlphaVac and NanoKnife sales were also recorded during the quarter.
Per management, ANGO’s mechanical thrombectomy portfolio exhibited strong performance during the quarter as commercial adoption continued to build with both AlphaVac and AngioVac.
However, dismal bottom-line results were disappointing. The pro-forma gross margin contraction does not bode well.
AngioDynamics’ Zacks Rank & Key Picks
ANGO currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space that are expected to report earnings soon are Globus Medical, Inc. (GMED - Free Report) , DaVita Inc. (DVA - Free Report) and GE HealthCare Technologies Inc. (GEHC - Free Report) .
The Zacks Consensus Estimate for Globus Medical’s first-quarter 2026 adjusted earnings per share (EPS) is currently pegged at 92 cents. The consensus estimate for revenues is pegged at $728.9 million. GMED currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Globus Medical has an estimated long-term growth rate of 9.6%. GMED’s earnings yield of 5.1% compares favorably with the industry’s negative yield.
DaVita currently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $2.41. The same for revenues is pegged at $3.30 billion.
DaVita has an estimated long-term growth rate of 20.2%. DVA’s earnings yield of 9.7% compares favorably with the industry’s 5.7%.
GE HealthCare currently carries a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter 2026 adjusted EPS is currently pegged at $1.07. The same for its revenues is pegged at $5.06 billion.
GE HealthCare has an estimated long-term growth rate of 9.1%. GEHC’s earnings yield of 7.1% compares favorably with the industry’s 2.4%.