AngioDynamics, Inc. Q1 FY2026 earnings call

• Strong Q1 revenue growth, led by Med Tech's 26% growth. - Med Tech segment has seen sustained growth over 5 years, from $41M in 2020 to $127M in 2025 (25% CAGR). - Auryon continues to grow above market rates, expanding into the hospital market. - Mechanical Thrombectomy grew over 40%, with AlphaVac and AngioVac seeing customer growth. - NanoKnife grew over 25%, with expanded prostate indication and a new AARP ad campaign. - Gross margin improved 90 basis points due to pricing, sales mix, and operating efficiencies.

In the first quarter, revenue increased 12.2% to $75.7 million. The Med Tech segment saw revenue of $35.3 million, a 26.1% increase, contributing 47% of total revenue. Auryon platform contributed $16.5 million, growing 20.1% with 17 consecutive quarters of double-digit growth. Mechanical Thrombectomy revenue, including AngioVac and AlphaVac, increased 41.2% to $11.3 million, with AngioVac at $8 million (37.1% growth) and AlphaVac at $3.3 million (52.3% growth). NanoKnife revenue was $6.4 million, a 26.7% increase. The Med Device segment had revenue of $40.4 million, a 2.3% year-over-year increase.

• Net sales expected to be in the range of $308 million to $313 million, up from prior range of $305 million to $310 million (5%-7% growth over FY25). - Med Tech net sales expected to grow 14% to 16% (up from prior guidance of 12% to 15%). - Med Device sales expected to be roughly flat. - Gross margin expected in the range of 53.5% to 55.5%, inclusive of tariff impact of $4 million to $6 million. - Adjusted EBITDA expected in the range of $6 million to $10 million (up from prior guidance of $3 million to $8 million). - Adjusted loss per share expected in the range of $0.33 to $0.23 (improved from prior guidance).

• Tariffs could impact costs, with an expected $4 million to $6 million tariff expense for FY2026.

Q: Any sense of revenue growth attributable to price increase in Mechanical Thrombectomy?

A: Yes, seeing price take in Mechanical Thrombectomy, but also new customers and unit sales growth. Combination of price, new customers, and utilization driving growth.

Q: Update on BTK clinical trial timeline and findings?

A: AMBITION BTK study is important. Enrollment in RCT and Registry is ongoing. Pleased with pace; study will prove Auryon's role in below-the-knee atherectomy, expected to be a big part of Auryon's future.