ango-20260228

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended February 28, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 0-50761

AngioDynamics, Inc.

(Exact name of registrant as specified in its charter)


Delaware						11-3146460
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

14 Plaza Drive, Latham, New York 12110

(Address of principal executive offices and zip code)

(518) 795-1400

Registrant’s telephone number, including area code

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol

Name of each exchange on which registered

Common Stock, par value $.01

ANGO

NASDAQ Global Select Market

Preferred Stock Purchase Rights

NASDAQ Global Select Market

Securities registered pursuant to Section 12(g) of the Act:

None

(Title of Class)

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Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer

☐

Accelerated filer

☒

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the Registrant’s classes of common stock, as of the latest practicable date.


Class						Outstanding as of March 31, 2026
Common Stock, par value $.01						41,318,915

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AngioDynamics, Inc. and Subsidiaries

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		Page
	Part I: Financial Information

Item 1.	Financial Statements

	Consolidated Statements of Operations (unaudited)	3

	Consolidated Statements of Comprehensive Loss (unaudited)	4

	Consolidated Balance Sheets (unaudited)	5

	Consolidated Statements of Cash Flows (unaudited)	6

	Consolidated Statements of Stockholders’ Equity (unaudited)	7

	Notes to Consolidated Financial Statements (unaudited)	9

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	22

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	30

Item 4.	Controls and Procedures	31

	Part II: Other Information

Item 1.	Legal Proceedings	32

Item 1A.	Risk Factors	32

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	32

Item 3.	Defaults on Senior Securities	32

Item 4.	Mine Safety Disclosures	32

Item 5.	Other Information	32

Item 6.	Exhibits	33

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PART 1. FINANCIAL INFORMATION

Item 1. Financial Statements.

AngioDynamics, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(in thousands of dollars, except per share data)


	Three Months Ended				Nine Months Ended
	Feb 28, 2026		Feb 28, 2025		Feb 28, 2026		Feb 28, 2025
Net sales	$	78,423	$	72,004	$	233,567	$	212,340
Cost of sales (exclusive of intangible amortization)	36,944		33,147		105,448		96,853
Gross margin	41,479		38,857		128,119		115,487
Operating expenses:
Research and development	7,084		6,913		21,269		19,632
Sales and marketing	27,437		25,504		82,278		76,698
General and administrative	10,719		10,490		33,425		31,856
Amortization of intangibles	2,668		2,598		7,964		7,730

Change in fair value of contingent consideration	—		40		—		272
Acquisition, restructuring and other items, net	6,522		3,286		12,915		13,465
Total operating expenses	54,430		48,831		157,851		149,653

Operating loss	(12,951)		(9,974)		(29,732)		(34,166)
Other expense:
Interest income (expense), net	(88)		135		(194)		975
Other income, net	4,967		5,430		4,661		5,269
Total other income, net	4,879		5,565		4,467		6,244
Loss before income tax benefit	(8,072)		(4,409)		(25,265)		(27,922)
Income tax (benefit) expense	12		(2)		72		21
Net loss	$	(8,084)	$	(4,407)	$	(25,337)	$	(27,943)


Loss per share
Basic	$	(0.19)	$	(0.11)	$	(0.61)	$	(0.68)
Diluted	$	(0.19)	$	(0.11)	$	(0.61)	$	(0.68)






Weighted average shares outstanding
Basic	41,596		40,853		41,467		40,809
Diluted	41,596		40,853		41,467		40,809

The accompanying notes are an integral part of these consolidated financial statements.

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AngioDynamics, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(unaudited)

(in thousands of dollars)


	Three Months Ended				Nine Months Ended
	Feb 28, 2026		Feb 28, 2025		Feb 28, 2026		Feb 28, 2025
Net loss	$	(8,084)	$	(4,407)	$	(25,337)	$	(27,943)
Other comprehensive income, before tax:

Foreign currency translation gain	1,708		216		4,729		833
Other comprehensive income, before tax	1,708		216		4,729		833
Income tax expense related to items of other comprehensive loss	—		—		—		—
Other comprehensive income, net of tax	1,708		216		4,729		833
Total comprehensive loss, net of tax	$	(6,376)	$	(4,191)	$	(20,608)	$	(27,110)

The accompanying notes are an integral part of these consolidated financial statements.

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AngioDynamics, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

(unaudited)

(in thousands of dollars, except share data)


	Feb 28, 2026		May 31, 2025
Assets
Current assets
Cash	$	37,810	$	55,893

Accounts receivable, net of allowances of $1,759 and $2,215 respectively	45,552		42,890
Inventories	58,578		62,006


Prepaid expenses and other	13,612		7,535

SEC Form 10-Q filed by AngioDynamics Inc.