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1. Company Snapshot

1.a. Company Description

AngioDynamics, Inc.designs, manufactures, and sells various medical, surgical, and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and vascular access; and for use in oncology and surgical settings in the United States and internationally.The company provides NanoKnife ablation systems for the surgical ablation of soft tissues; solero microwave tissue ablation systems; and radiofrequency ablation products for ablating solid cancerous or benign tumors.


It also offers BioSentry tract sealant systems, IsoLoc Endorectal Balloon's, alatus vaginal balloon packing systems, angiographic catheters, guidewires, percutaneous drainage catheters, and coaxial micro-introducer kits.In addition, the company provides endovascular therapies products in the areas of thrombus management, atherectomy, peripheral products (Core), and venous insufficiency.Additionally, the company offers peripherally inserted central catheters, midline catheters, implantable ports, dialysis catheters, and related accessories and supplies that are used primarily to deliver short-term drug therapies, such as chemotherapeutic agents and antibiotics, into the central venous system under the BioFlo, BioFlo Midline, BioFlo PICC, Xcela PICC, PASV, BioFlo Port, SmartPort, Vortex, LifeGuard, BioFlo DuraMax, and DuraMax names.


It sells and markets its products to interventional radiologists, interventional cardiologists, vascular surgeons, urologists, interventional and surgical oncologists, and critical care nurses directly, as well as through distributor relationships.The company was founded in 1988 and is headquartered in Latham, New York.

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1.b. Last Insights on ANGO

AngioDynamics' recent performance was driven by strong Q2 fiscal 2025 earnings, with a notable beat on the top-line, driven by strength in the Med Tech business. The company's Med Tech division saw a 25% revenue growth, with key products like Auryon, AlphaVac, and AngioVac showing strong performance and market acceptance. Additionally, the FDA clearance of NanoKnife and promising clinical trials highlight its potential in prostate cancer treatment, contributing to a rise in disposable revenue. Canaccord raised its price target to $15 from $12, citing the company's strong quarter and long-term growth potential.

1.c. Company Highlights

2. AngioDynamics Posts Strong Q1 FY'26 Earnings with 12% Revenue Growth

AngioDynamics reported a robust first quarter for fiscal year 2026, with revenue increasing by 12% to $75.7 million. The growth was driven by both Med Tech and Med Device segments, with Med Tech revenue rising 26.1% to $35.3 million and Med Device revenue growing 2.3% to $40.4 million. Gross margin for the quarter was 55.3%, a 90-basis-point increase from the same period last year, driven by pricing initiatives, sales mix shift, and operating efficiencies. The adjusted net loss for the quarter was $4.2 million or $0.10 per share, an improvement from the adjusted net loss of $4.4 million or $0.11 per share in the first quarter of last year. Actual EPS came out at -$0.1, beating estimates of -$0.14.

Publication Date: Oct -28

📋 Highlights
  • Revenue Growth:: Q1 revenue rose 12% to $75.7 million, with Med Tech up 26.1% ($35.3 million) and Med Device up 2.3% ($40.4 million).
  • Product Highlights:: Mechanical Thrombectomy revenue surged 41.2%, AlphaVac grew 52.3%, and NanoKnife reached $6.4 million (26.7% increase) with 31.3% procedure growth.
  • Margin Expansion:: Gross margin improved 90 bps to 55.3%, driven by pricing, Med Tech mix shift, and operational efficiencies.
  • Adjusted Net Loss:: Narrowed to $4.2 million ($0.10/share) vs. $4.4 million ($0.11/share) in Q1 FY25, with OpEx declining to 69.4% of sales.
  • Guidance Raised:: FY2026 net sales now $308–313 million (5–7% YoY growth), with Med Tech guidance lifted to 14–16% growth.

Segment Performance

The company's Auryon business grew 20.1% year-over-year, driven by continued international adoption following CE Mark approval. Mechanical thrombectomy revenue increased 41.2%, with AlphaVac revenue growing 52.3%. Total NanoKnife revenue was $6.4 million, up 26.7%, driven by prostate awareness and increased adoption by the urology community. As Steve Trowbridge, Executive Vice President and Chief Financial Officer, noted, "We're seeing increased interest from the urology community, and we think NanoKnife is the right solution for intermediate-risk prostate cancer patients."

Guidance and Outlook

AngioDynamics raised its full-year revenue guidance to $308 million-$313 million, representing growth of 5%-7% over fiscal 2025 revenue. Med Tech net sales are expected to grow 14%-16%, while Med Device sales are expected to be roughly flat. Gross margin is expected to remain in the range of 53.5%-55.5% for the full year. Analysts estimate revenue growth of 8.2% for the next year.

Valuation

With a P/S Ratio of 1.67 and an EV/EBITDA of -61.65, the market appears to have tempered expectations for the company's short-term performance. However, the ROE of -17.48% and ROIC of -10.31% indicate that the company still faces challenges in generating returns on its investments. The Net Debt / EBITDA ratio of 4.64 suggests that the company's debt levels are relatively high compared to its EBITDA.

3. NewsRoom

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AXQ Capital LP Has $270,000 Holdings in AngioDynamics, Inc. $ANGO

Nov -25

Source: defenseworld.net

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AngioDynamics, Inc. (ANGO) Presents at UBS Global Healthcare Conference 2025 Transcript

Nov -10

Source: seekingalpha.com

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ANGO Stock Gains Following Q1 Earnings Beat, Gross Margin Improves

Oct -03

Source: zacks.com

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AngioDynamics: Discounted Sales Multiple With Real Growth Engines

Oct -02

Source: seekingalpha.com

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Why Did AngioDynamics Stock Pop Today?

Oct -02

Source: fool.com

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AngioDynamics, Inc. (ANGO) Q1 2026 Earnings Call Transcript

Oct -02

Source: seekingalpha.com

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Nasdaq Surges 100 Points; AngioDynamics Posts Upbeat Q1 Results

Oct -02

Source: benzinga.com

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AngioDynamics (ANGO) Reports Q1 Loss, Tops Revenue Estimates

Oct -02

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.00%)

6. Segments

Med Device

Expected Growth: 3%

AngioDynamics' Med Device segment growth is driven by increasing demand for minimally invasive procedures, expanding product portfolio through strategic acquisitions, and growing adoption of its NanoKnife ablation system for cancer treatment. Additionally, the company's focus on innovation and R&D investments in emerging technologies such as robotic-assisted surgery and bioelectronic medicine are expected to contribute to its growth.

Med Tech

Expected Growth: 3%

AngioDynamics' Med Tech segment growth is driven by increasing demand for minimally invasive procedures, advancements in vascular access technologies, and expansion into new markets. Additionally, the company's focus on innovation, strategic partnerships, and cost-effective solutions contribute to its growth momentum.

7. Detailed Products

NanoKnife System

A minimally invasive, irreversible electroporation (IRE) ablation system for the treatment of cancer

AngioVac System

A minimally invasive, venous drainage system for the removal of fresh, soft thrombi and emboli from the venous system

Solero Microwave Ablation System

A minimally invasive, microwave ablation system for the treatment of soft tissue tumors

Maxxum Micro-Dissection System

A minimally invasive, micro-dissection system for the treatment of peripheral artery disease (PAD)

Unify RX Access Platform

A minimally invasive, access platform for the treatment of vascular and oncology procedures

8. AngioDynamics, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

AngioDynamics, Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the ongoing development of new medical technologies.

Bargaining Power Of Customers

AngioDynamics, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products are often critical to medical procedures, making it difficult for customers to negotiate prices.

Bargaining Power Of Suppliers

AngioDynamics, Inc. relies on a few key suppliers for critical components, which gives these suppliers some bargaining power. However, the company's size and diversification efforts mitigate this risk.

Threat Of New Entrants

The medical device industry has high barriers to entry, including regulatory hurdles and significant research and development investments. This limits the threat of new entrants to AngioDynamics, Inc.'s market.

Intensity Of Rivalry

The medical device industry is highly competitive, with several established players competing for market share. AngioDynamics, Inc. must continually innovate and invest in research and development to maintain its competitive position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 14.58%
Debt Cost 5.63%
Equity Weight 85.42%
Equity Cost 7.30%
WACC 7.06%
Leverage 17.07%

11. Quality Control: AngioDynamics, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
AngioDynamics

A-Score: 4.6/10

Value: 7.8

Growth: 2.7

Quality: 4.5

Yield: 0.0

Momentum: 10.0

Volatility: 2.7

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BioLife Solutions

A-Score: 3.9/10

Value: 4.4

Growth: 4.7

Quality: 4.7

Yield: 0.0

Momentum: 6.5

Volatility: 3.0

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Atrion

A-Score: 3.5/10

Value: 3.5

Growth: 3.0

Quality: 6.2

Yield: 1.0

Momentum: 5.0

Volatility: 2.0

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NEXGEL

A-Score: 3.3/10

Value: 7.4

Growth: 4.9

Quality: 4.2

Yield: 0.0

Momentum: 1.5

Volatility: 1.7

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STAAR Surgical

A-Score: 3.2/10

Value: 8.0

Growth: 4.1

Quality: 3.8

Yield: 0.0

Momentum: 1.5

Volatility: 2.0

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Ekso Bionics

A-Score: 3.0/10

Value: 8.6

Growth: 4.4

Quality: 3.9

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

13.47$

Current Price

13.47$

Potential

-0.00%

Expected Cash-Flows