A month has gone by since the last earnings report for AngioDynamics (ANGO). Shares have added about 8.9% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is AngioDynamics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
AngioDynamics Q4 Earnings Beat Estimates, Gross Margin Expands
AngioDynamics reported an adjusted loss per share of 7 cents for fourth-quarter fiscal 2026, wider than the year-ago quarter’s adjusted loss of 3 cents but narrower than the Zacks Consensus Estimate of a loss of 11 cents.
On a pro-forma basis (excluding the divested Dialysis and BioSentry businesses, the divested PICC and Midline product portfolios and the discontinued Radiofrequency and Syntrax products), adjusted loss per share for fourth-quarter fiscal 2025 was also 7 cents, wider than the 5 cents reported in the year-ago quarter.
On a pro-forma basis, the fiscal fourth-quarter GAAP loss per share was 27 cents, wider than the year-ago period’s 15 cents.
Full-year fiscal 2026 adjusted loss per share was 15 cents, flat compared to the figure at the end of the fiscal 2025 period. The figure came narrower than the Zacks Consensus Estimate of a loss of 23 cents per share.
On a pro-forma basis, full-year fiscal 2026 adjusted loss per share was 24 cents, narrower than 25 cents at the end of the comparable fiscal 2025 period.
ANGO's Q4 Revenue Performance
Revenues in the fiscal fourth quarter totaled $86.6 million, up 8% year over year both on a reported and pro forma basis. The top line beat the Zacks Consensus Estimate by 7.6%.
The company continued to see strong contributions from its Med Tech (which includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform) and Med Device businesses during the quarter.
Full-year fiscal 2026 revenues were $320.2 million, up 9.5% on a reported basis and up 9.4% on a pro forma basis from the comparable fiscal 2025 period. The figure topped the Zacks Consensus Estimate by 1.9%.
Shares of this company traded flat during yesterday’s after-hours trading.
AngioDynamics’ Geographical Analysis
In the quarter under review, U.S. net revenues totaled $73.6 million, up 9.1% year over year both on a reported and pro forma basis. This figure compares to our U.S. net revenues’ fiscal fourth-quarter projection of $69 million.
International revenues came in at $13 million, up 2.7% from the year-ago quarter, both on a reported and pro forma basis. This figure compares to our fiscal fourth-quarter International revenues’ projection of $11.5 million.
ANGO’s Q4 Segmental Analysis
Med Tech
The Med Tech business’ net sales in the fiscal fourth quarter were $41.8 million, reflecting an uptick of 16.7% year over year, both on a reported and pro forma basis. This figure compares to our fiscal fourth-quarter Med Tech business’ net sales projection of $38.2 million.
The rise was primarily on the back of increased net sales of Auryon, amounting to $17.8 million (up 14.4% year over year), Mechanical Thrombectomy revenues (which include AngioVac and AlphaVac) of $11.1 million (down 1.1% year over year) and NanoKnife sales of $11.8 million (up 64.5% year over year). In the quarter, AngioVac revenues were $6.9 million (down 15.8% year over year) and AlphaVac revenues were $4.2 million (up 38.4% year over year). Total NanoKnife revenues included 47% growth in probes and 132.5% growth in capital sales.
Med Device
Med Device’s revenues in the fiscal fourth quarter grossed $44.8 million, up 1.1% from the year-ago period. This figure compares to our fiscal fourth-quarter Med Device business’ net sales projection of $42.3 million.
AngioDynamics’ Margin and Cost Trends
In the quarter under review, AngioDynamics’ pro forma gross profit rose 10.8% to $46.8 million. The pro forma gross margin expanded 130 basis points to 54%. We had projected a pro forma gross margin of 52.3% for fourth-quarter fiscal 2025.
Sales and marketing expenses on a pro forma basis increased 17.7% to $31.1 million year over year. Research and development expenses on a pro forma basis increased 24.1% year over year to $8.2 million, whereas general and administrative expenses on a pro forma basis increased 0.3% to $10.3 million. On a pro forma basis, adjusted operating expenses of $56.9 million increased 18.7% year over year.
Total operating loss on a pro forma basis totaled $10.2 million compared with the prior-year quarter’s loss of $5.8 million.
ANGO’s Cash Position
AngioDynamics exited fiscal 2026 with cash and cash equivalents of $53.9 million compared with $37.8 million at the fiscal third-quarter end.
The company ended the quarter with no debt on its balance sheet.
Cumulative net cash provided by operating activities at the end of fiscal 2026 was $3.1 million, against the cumulative net cash used in operating activities of $10.1 million a year ago.
AngioDynamics’ FY27 Guidance
AngioDynamics has initiated its guidance for fiscal 2027.
The company expects its net sales to be in the range of $336 million-$341 million, representing growth of 5-6.5% from the comparable fiscal 2026 period. The Zacks Consensus Estimate is currently pegged at $325.1 million.
AngioDynamics expects its Med Tech revenue growth to be in the range of 12-15%, while Med Device revenue growth is projected to be flat over the comparable fiscal 2026 period.
Management expects the impact from tariffs to be broadly similar to fiscal 2026.
The adjusted loss per share is projected to be between 29 cents and 24 cents. The Zacks Consensus Estimate is currently pegged at a loss of 13 cents per share.
How Have Estimates Been Moving Since Then?
Since the earnings release, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -66.67% due to these changes.
VGM Scores
Currently, AngioDynamics has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock has a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise AngioDynamics has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
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