The medical device maker's revenue rose 6.9% to $80.9 million and its adjusted loss was smaller than expected. Eric Honroth will succeed Jim Clemmer on Nov 2, 2026.
AngioDynamics delivered a quarter that met or beat each headline expectation. Its shares fell sharply anyway.
Net sales in the three months through Aug 31, 2026 came to $80.9 million, up 6.9% and slightly above the roughly $80.5 million analysts expected. The adjusted loss was 4 cents a share, narrower than the roughly 11-cent loss expected. The GAAP loss was 17 cents a share. Adjusted Ebitda was $5.0 million.
The stock traded at about $11.60 in early afternoon, down about 18% from Wednesday's close near $14.19. Before Thursday it had risen about 11% this year.
Two segments
The company's growth is concentrated in one half of the business. Sales in Med Tech, the segment built around newer devices for clearing arteries and blood clots and for tumor ablation, climbed 13.2% to $39.9 million. Within it, the Auryon atherectomy line added 14.7%, reaching $18.9 million, and NanoKnife was up 29%. The older Med Device segment brought in $41.0 million, 1.4% more than a year earlier.
Med Tech now accounts for about 49% of sales.
The guidance
AngioDynamics reiterated, rather than raised, its fiscal 2027 outlook: revenue of $336 million to $341 million, Med Tech growth of 12% to 15%, flat Med Device sales, adjusted Ebitda of $13 million to $16 million, and an adjusted loss of 24 to 29 cents a share.
The company used $15.3 million of cash in operations during the quarter and ended it with $34.0 million of cash and no debt.
The succession
Separately, the company named Eric Honroth president and chief executive, effective Nov 2, 2026. He succeeds Jim Clemmer, who led AngioDynamics for ten years and had previously said he planned to retire. Clemmer will remain as an executive adviser.
"After ten years leading this company, I have decided to retire, and the Board has completed a comprehensive search for my successor," Clemmer said.
The Food and Drug Administration also cleared a 40-patient trial testing NanoKnife on enlarged prostates, a first step outside cancer treatment for the platform.
Opposing readings
One reading is that the decline reflects disappointment that a beat did not translate into a higher outlook, combined with uncertainty that comes with any change at the top, in a stock that had risen this year.
Another reading is that investors are focused on cash. The full-year guidance still calls for a loss, the first quarter used $15.3 million of a $34.0 million cash balance, and a new chief executive may revisit priorities.
Next steps
Honroth's first public remarks after Nov 2, 2026, operating cash flow in the fiscal second quarter and Med Tech growth against the 12% to 15% target will show whether the plan holds through the leadership change.