AngioDynamics (NASDAQ:ANGO) reported its financial results for the third quarter of fiscal year 2026, ended February 28, 2026, on Thursday, April 2.
The company demonstrated continued momentum in its high-growth segments, marking its sixth consecutive quarter of double-digit growth within its Med Tech business and triggering another upward revision to its full-year guidance.
Net sales for the quarter reached $78.4 million, an 8.9% increase on a pro forma basis compared to the prior-year period.
The performance was spearheaded by the Med Tech segment, which saw net sales jump 19% to $37.3 million.
Growth in this category was driven by the mechanical thrombectomy portfolio—specifically the AlphaVac and AngioVac systems—and the NanoKnife platform, which has seen accelerated adoption in prostate-related procedures following recent CPT code updates.
The Med Device segment remained stable, posting net sales of $41.1 million, a 1.1% year-over-year increase.
On a GAAP basis, the company reported a gross margin of 52.9% and a loss per share of $0.19.
On an adjusted basis, AngioDynamics reported a loss per share of $0.07, outperforming analyst expectations, and delivered adjusted EBITDA of $1.8 million.
The company ended the quarter with a solid liquidity position, maintaining $37.8 million in cash and zero debt.
Reflecting the strength of the quarter, AngioDynamics raised its full-year fiscal 2026 guidance for the third consecutive time.
The company now expects net sales to increase to a range of $311 million to $316 million (previously $308 million to $313 million).