ANGO Posts Revenue Beat, Losses Widen as Stock Falls

AngioDynamics (ANGO) reported fiscal 2026 Q3 earnings on April 2, 2026, delivering revenue above expectations but posting wider losses than the prior year. The company raised its full-year guidance for the third consecutive quarter, driven by strong performance in the Med Tech segment.

Revenue

The total revenue for AngioDynamics in Q3 of 2026 reached $78.42 million, reflecting an 8.9% increase compared to $72 million in Q3 of 2025. This growth was primarily driven by the Med Tech segment, which saw a 19% year-over-year increase to $37.28 million. The Med Device segment also contributed to the overall growth, reporting revenue of $41.14 million. Together, these segments underscored the company’s continued focus on high-margin product lines such as mechanical thrombectomy and interventional oncology.

Earnings/Net Income

Despite the strong revenue growth, AngioDynamics reported a net loss of $8.08 million in Q3 of 2026, a 83.4% increase from a $4.41 million loss in Q3 of 2025. On a per-share basis, the company’s losses widened to $0.19 from $0.11, representing a 72.7% increase in the loss. These results reflect ongoing cost pressures and operational challenges, indicating that profitability remains a challenge despite top-line gains.

Price Action

Following the earnings report, AngioDynamics’ stock experienced continued weakness. Shares fell 8.19% on the latest trading day, 8.52% for the week, and 6.61% for the month. These declines reflect persistent investor caution amid the company's elevated losses and market volatility.

Post-Earnings Price Action Review

The strategy of buying ANGO shares after its revenue beat expectations on the financial report release date and holding for 30 days resulted in a 12.07% return over the past three years. However, this performance was underwhelming compared to the broader market, as the benchmark return was 40.50%, leading to an excess return of -28.43% and a CAGR of 4.55%. The strategy also exhibited high volatility, with a maximum drawdown of 27.71% and a Sharpe ratio of 0.14, indicating significant risk and moderate returns.

CEO Commentary

James Clemmer, CEO of AngioDynamics, emphasized the company’s strong top-line growth, particularly the 19% increase in the Med Tech segment. He highlighted the success of key products such as Auryon, AlphaVac, and NanoKnife, which continue to drive double-digit growth. Clemmer also outlined strategic priorities, including leveraging high-margin technologies, advancing clinical trials like APEX-Return, and expanding into international markets. He attributed the company’s three consecutive quarters of raised guidance to the resilience of the team amid manufacturing transitions and global trade challenges.

Guidance

AngioDynamics raised its 2026 guidance, projecting net sales of $313.5 million to $315.5 million, representing 7.1% to 7.8% growth compared to prior estimates. Med Tech is expected to grow by 15% to 17%, while Med Device is projected to see growth of approximately 1%. The company forecasts adjusted EBITDA of $10 million to $12 million and an adjusted loss per share of $0.30 to $0.23. Gross margin is expected to remain in the 53.5% to 55.5% range, factoring in $4 million to $6 million in tariffs. AngioDynamics also anticipates inventory builds in Q4 to address sterilization shutdowns, which may temporarily impact cash flow but will ultimately support a return to a cash flow positive position.

Additional News

In the weeks following its earnings release, AngioDynamics announced several strategic and operational updates. The company reiterated its focus on expanding its mechanical thrombectomy portfolio, including continued adoption of AlphaVac and AngioVac in the U.S. and Europe. Additionally, it highlighted progress on the APEX-Return clinical trial, a key initiative expected to support future product approvals and market expansion. AngioDynamics also announced plans to pursue international regulatory approvals post-CE Mark, signaling its intent to grow beyond its current markets without disclosing specific M&A activity or executive changes during this period. No dividend or buyback programs were announced, as the company continues to prioritize capital efficiency and R&D investments.

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