Med Tech Growth Propels AngioDynamics to Raise FY 2026 Outlook
AngioDynamics (NASDAQ: ANGO) delivered its fourth straight quarter of more than 20% revenue growth in its Med Tech division, powering a company-wide guidance raise for fiscal year 2026. Investors have reason to pay attention: Med Tech sales leapt 26.1% year-over-year, compared to just 2.3% growth in Med Device, as innovation and clinical results continue to bear fruit.
Strong Financial Momentum: Med Tech Outpaces Rest of Portfolio
In the fiscal Q1 results (period ending August 31, 2025), total net sales climbed to $75.7 million, up 12.2% from a year prior. But it’s the Med Tech segment’s robust $35.3 million (26.1% increase) that grabs headlines—powered by strong gains in Auryon (20.1% growth), Mechanical Thrombectomy (41.2% growth), and NanoKnife (26.7% growth, with probes up 31.3%). The more mature Med Device division recorded $40.4 million in net sales, up just 2.3%.
| Segment | Net Sales ($M) | YoY Growth |
|---|---|---|
| Med Tech | 35.3 | 26.1% |
| Med Device | 40.4 | 2.3% |
| Total | 75.7 | 12.2% |
Operational efficiency is making a difference too: Gross margin improved to 55.3%, 90 basis points above last year and up sharply from the prior quarter. Adjusted EBITDA swung to $2.2 million from a slight loss, highlighting underlying profitability even as GAAP results reflected a $0.26 loss per share.
Guidance Raised: Management Optimistic for 2026
Thanks to strong momentum, AngioDynamics raised its full-year FY 2026 outlook for both net sales and Med Tech segment growth. Net sales are now expected in the $308–$313 million range (previously $305–$310 million), while Med Tech growth is seen between 14% and 16% (previously 12%–15%). Adjusted EBITDA and EPS guidance were also lifted. The company remains confident in being cash flow positive for the year, closing the quarter with $38.8 million in cash and zero debt.
| Metric | Updated Guidance | Previous Guidance |
|---|---|---|
| Net Sales | $308M–$313M | $305M–$310M |
| Med Tech Growth | 14%–16% | 12%–15% |
| Adjusted EBITDA | $6M–$10M | $3M–$8M |
| Adjusted EPS | ($0.33)–($0.23) | ($0.35)–($0.25) |
| Free Cash Flow | Positive | Positive |
Clinical Progress Highlights Competitive Positioning
In parallel to commercial gains, AngioDynamics is making headway on key clinical fronts. The first patients have been enrolled in both the AMBITION BTK (for Auryon Atherectomy) and RECOVER-AV (for AlphaVac in pulmonary embolism) trials—efforts aimed at expanding clinical evidence and applications for these platforms.
Notably, the NanoKnife PRESERVE study was published in European Urology, showing that 84% of men treated for intermediate-risk prostate cancer were free from significant in-field disease after 12 months, with high preservation rates of urinary and sexual function. These clinical validations support further adoption and pricing power in a competitive landscape.
Takeaway: Growth Engines Are in Gear
For investors, AngioDynamics is demonstrating how focused Med Tech innovation and execution can offset legacy business headwinds. Med Tech’s growth story now spans four quarters above 20%, with management betting on continued clinical and commercial momentum. With a solid balance sheet, raised guidance, and major clinical studies underway, ANGO looks well positioned to build on this trend for the rest of fiscal 2026 and beyond.
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