The Med Tech transformation is accelerating with NanoKnife as the key catalyst — Medicare coverage and CPT I codes should drive adoption in FY2027. Watch for further clinical data readouts (AMBITION BTK, RECOVER-AV, APEX-Return, PAVE) and potential BPH indication expansion via RELIEF study. The debt-free balance sheet and positive cash generation provide downside protection.
Price Chart
Executive Summary
AngioDynamics reported fiscal Q4 2026 results with pro forma net sales of $86.6M (+8.0% YoY), driven by Med Tech segment growth of 16.7% and a standout 64.5% surge in NanoKnife sales. The company generated $17.5M in operating cash flow, ended the year with $53.9M cash and no debt, and issued FY2027 guidance for net sales of $336M-$341M and Adjusted EBITDA of $13M-$16M. The combination of accelerating Med Tech mix, positive cash generation, and multiple clinical/regulatory catalysts (NanoKnife Medicare coverage, RELIEF BPH IDE, APEX-Return/PAVE IDE approvals) supports a bullish read-through for the stock.
Key Financial Metrics
Key Facts
- Q4 FY2026 pro forma net sales of $86.6M, +8.0% YoY; full-year net sales $320.2M, +9.4% YoY
- Med Tech segment Q4 sales $41.8M, +16.7% YoY; full-year $150.0M, +18.4% YoY
- NanoKnife Q4 sales $11.8M, +64.5% YoY (probes +47.0%, capital +132.5%); Auryon +14.4% YoY
- GAAP net loss per share $0.27; adjusted loss per share $0.07 vs consensus $-0.09 (22.2% beat)
- Q4 operating cash flow $17.5M; full-year operating cash flow $3.1M; cash balance $53.9M, debt-free
- FY2027 guidance: net sales $336M-$341M, Med Tech growth +12-15%, Adj. EBITDA $13M-$16M
- Post-year-end: FDA IDE approval for RELIEF BPH study; Palmetto GBA Medicare coverage for NanoKnife IRE effective July 5, 2026
- Two-year PRESERVE data showed durable prostate cancer outcomes; 97% of patients with PSA below baseline at 24 months
Financial Impact
Q4 revenue $86.6M (+8% YoY), adjusted EPS -$0.07 vs consensus -$0.09 (beat by 22%); FY2027 guidance implies ~5-6% revenue growth at midpoint
Risk Factors
- Tariff impact expected to persist at ~$4-6M annually; any escalation could pressure gross margins
- AngioVac declined 15.8% in Q4 due to tough comp; mechanical thrombectomy segment overall was -1.1%
- Med Device segment growth is flat to low-single-digit; continued mix shift needed to sustain overall margin expansion
- Guidance assumes no material change in tariff environment; dynamic trade policy remains a risk factor
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-028368 |
| Document: ef20077916_ex99-2.htm | 0001140361-26-028368 |
| Document: ef20077916_8k.htm | 0001140361-26-028368 |
| Document: 0001140361-26-028368-index-headers.html | 0001140361-26-028368 |
| Document: 0001140361-26-028368-index.html | 0001140361-26-028368 |
| Document: 0001140361-26-028368.txt | 0001140361-26-028368 |
| 8-K Data (Synthetic) | 0001140361-26-028368 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 19d ago | DEFA14A | $11.23 $11.58 | ▲ +3.12% | ▲ +3.39% | $12.17 (+8.37%) |
Oct 8, 2026 19d ago | DEF 14A | $11.23 $11.58 | ▲ +3.12% | ▲ +3.39% | $12.17 (+8.37%) |
Oct 8, 2026 19d ago | 8-K | $11.23 $11.58 | ▲ +3.12% | ▲ +3.39% | $12.17 (+8.37%) |
Oct 8, 2026 19d ago | 8-K | $11.23 $11.58 | ▲ +3.12% | ▲ +3.39% | $12.17 (+8.37%) |
Jul 14, 2026 15w ago | 8-K | $13.00 $13.71 | ▲ +5.46% | ▲ +6.76% | $12.17 (−6.38%) |
Apr 2, 2026 29w ago | 8-K | $10.31 $9.80 | ▼ −4.95% | ▼ −8.57% | $12.17 (+18.04%) |
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