AngioDynamics Cuts Quarterly Loss To $7.1 Million, Names Eric Honroth CEO And Holds Guidance
Med Tech sales rose 13.2% in the fiscal first quarter, and the company reiterated its full-year outlook ahead of a November 2 CEO handover.
AngioDynamics reported a first-quarter net loss of $7.1 million, down from $10.9 million a year earlier, in an 8-K filed Thursday. The company also named Eric Honroth to succeed retiring CEO Jim Clemmer and kept its fiscal 2027 guidance unchanged.
What the filing says
The press release attached to the 8-K puts net sales for the quarter ended August 31, 2026 at $80.9 million, up 6.9% from a year earlier. Med Tech sales were $39.9 million, up 13.2% from $35.3 million. Med Device sales were $41.0 million, up 1.4% from $40.4 million.
The standard-accounting loss was $0.17 per share, versus $0.26 a year ago. On an adjusted basis the loss was $1.8 million, or $0.04 per share, versus $4.2 million, or $0.10. Adjusted EBITDA, an operating-profit measure that excludes interest, taxes and certain non-cash costs, was $5.0 million versus $2.2 million.
Within Med Tech:
- Auryon sales were $18.9 million, up 14.7%.
- Mechanical Thrombectomy sales were $12.0 million, up 6.7%; AlphaVac grew 37.4% while AngioVac fell 5.9% against a tough comparison.
- NanoKnife sales were $8.3 million, up 29.0%, with probes up 24.1% and capital sales up 53.5%, driven mainly by prostate procedures.
Margin, cash and the tariff refund
Gross margin, the share of sales left after production costs, was 59.4%, up 410 basis points (4.1 percentage points). The company credited favorable pricing and the shift toward Med Tech, partly offset by a manufacturing transition and global inflation.
Tariff refunds also helped. The company received $1.2 million of refunds during the quarter; without them, gross margin would have been 57.8%. Tariff expenses were $0.9 million versus $1.7 million a year earlier, leaving a net tariff benefit of $0.4 million.
Operations used $15.3 million of cash, versus $15.9 million in the year-earlier quarter. The company ended August with $34.0 million in cash and no debt.
CEO change and guidance
Honroth becomes President and CEO on November 2, 2026, after what the company calls a comprehensive Board-led search. Clemmer, who said he decided to retire "after ten years leading this company," will stay on as an executive advisor.
Guidance for fiscal 2027 is reiterated: net sales of $336.0 million to $341.0 million, Med Tech growth of 12% to 15%, flat Med Device sales, gross margin of 54% to 55%, adjusted EBITDA of $13.0 million to $16.0 million and an adjusted loss of $0.24 to $0.29 per share. The company again said gross margin will be lower in the second half than in the first.
Separately, the company won FDA approval of an investigational device exemption for the RELIEF study, a 40-subject feasibility trial of NanoKnife for benign prostatic hyperplasia at up to five U.S. sites. It would extend the platform beyond cancer.
Honroth takes over on November 2, and management has already said second-half gross margin will come in below the first half's 59.4%.
Sources
- 8-K Filing — ANGIODYNAMICS INC (ANGO) — SEC EDGAR
- Exhibit ef20083493_ex99-1.htm — ANGIODYNAMICS INC 8-K exhibit — SEC EDGAR
- Exhibit ef20083493_ex99-2.htm — ANGIODYNAMICS INC 8-K exhibit — SEC EDGAR
