AngioDynamics, Inc. reported financial results for the first quarter of fiscal year 2027, which ended August 31, 2026. The company reported net sales of $80.9 million for the quarter, representing a 6.9% increase compared to the prior-year period. The company noted that this marked the eighth consecutive quarter of double-digit growth in its Med Tech segment.
Within the Med Tech segment, net sales increased by 13.2% to $39.9 million. This growth was driven by the Auryon peripheral atherectomy platform, which saw sales of $18.9 million, a 14.7% increase year-over-year. The company also reported that Auryon achieved its 21st consecutive quarter of double-digit atherectomy growth. Mechanical Thrombectomy sales totaled $12.0 million, an increase of 6.7% compared to the prior year, with AlphaVac sales growing 37.4% and AngioVac sales growing 9.1% sequentially. The NanoKnife oncology platform recorded sales of $8.3 million, a 29.0% increase, driven by demand for prostate procedures.
Med Device net sales were $41.0 million, a 1.4% increase compared to the prior year. The company reported a GAAP gross margin of 59.4% for the quarter, which was 410 basis points higher than the same period in fiscal 2026. This improvement was attributed to favorable pricing and a revenue mix shift toward Med Tech, partially offset by manufacturing transitions and inflation. The company noted that gross margin was also aided by $1.2 million in tariff refunds received during the quarter.
For the quarter, AngioDynamics recorded a GAAP net loss of $7.1 million, or $0.17 per share. On a non-GAAP basis, the adjusted loss per share was $0.04, and adjusted EBITDA was $5.0 million. The company used $15.3 million of cash from operations during the quarter and reported $34.0 million in cash as of August 31, 2026, maintaining a debt-free balance sheet.
In corporate news, the company announced the appointment of Eric Honroth as President and Chief Executive Officer, effective November 2, 2026. He will succeed Jim Clemmer, who announced his retirement after ten years leading the company. Additionally, the company received FDA approval for the RELIEF study, an Investigational Device Exemption (IDE) evaluating NanoKnife IRE for the treatment of benign prostatic hyperplasia.
The company reiterated its fiscal year 2027 guidance, projecting net sales between $336.0 million and $341.0 million, Med Tech net sales growth of 12% to 15%, and adjusted EBITDA between $13.0 million and $16.0 million.
