Investment Thesis
AngioDynamics faces significant operational headwinds with negative operating income (-10.8% margin) and negative free cash flow (-$12.4M) despite a healthy gross margin of 55.8%, indicating execution and cost management issues. While the balance sheet remains solid with zero long-term debt and adequate liquidity (2.24x current ratio), the company is burning cash operationally and showing revenue contraction (-3.8% YoY), suggesting structural challenges in the medical device market. The modest improvement in net income YoY (+81.6%) is insufficient to offset deteriorating profitability trends and negative cash generation.
ANGO Strengths
- Strong gross margin of 55.8% indicates competitive pricing power and product quality
- Conservative balance sheet with zero long-term debt and $41.6M cash provides financial flexibility
- Healthy liquidity position with 2.24x current ratio and 1.33x quick ratio
- Improved net loss YoY (+81.6%) suggests some operational progress or one-time items
ANGO Risks
- Negative operating cash flow of -$11.3M indicates company is burning cash despite positive gross profit
- Revenue decline of 3.8% YoY combined with negative operating margins suggests demand weakness or market share loss
- Negative free cash flow of -$12.4M is unsustainable and will deplete cash reserves if trend continues
- Operating losses with -10.8% operating margin indicate inability to convert gross profits to operating profits
- No insider buying activity in last 90 days may reflect management concerns about near-term prospects
Key Metrics to Watch
- Operating cash flow trend - must return to positive to validate business model sustainability
- Revenue growth trajectory - need to stabilize declining top-line to assess market competitiveness
- Operating margin improvement - critical to reach profitability as cost structure appears misaligned with revenue base
- Free cash flow generation - key indicator of whether company can self-fund operations and R&D
- Gross margin stability - monitor if pricing power is maintained amid competitive pressures
ANGO Financial Metrics
ANGO Profitability Ratios
ANGO Balance Sheet & Liquidity
ANGO 5-Year Financial Trend
5-Year Trend Summary: ANGIODYNAMICS INC's revenue has shown modest growth of 7% over the 5-year period. The most recent EPS of $-1.33 indicates the company is currently unprofitable.
ANGO Growth Metrics (YoY)
ANGO Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $72.8M | -$6.4M | $-0.15 |
| Q1 2026 | $67.5M | -$10.9M | $-0.26 |
| Q3 2025 | $72.0M | -$4.4M | $-0.11 |
| Q2 2025 | $72.8M | -$10.7M | $-0.26 |
| Q1 2025 | $67.5M | -$12.8M | $-0.31 |
| Q3 2024 | $75.2M | -$8.5M | $-0.24 |
| Q2 2024 | $79.1M | -$8.5M | $-0.21 |
| Q1 2024 | $78.7M | -$13.0M | $-0.33 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
ANGO Capital Allocation
ANGO SEC Filings
Access official SEC EDGAR filings for ANGIODYNAMICS INC (CIK: 0001275187)