AngioDynamics, Inc
AngioDynamics is a U.S.-based medical technology company focused on minimally invasive devices used in cardiovascular disease and cancer care. The company designs, manufactures, and sells products for vascular access, peripheral vascular disease treatment, thrombus management, and oncology/surgical procedures. Its business has been reshaped by a series of divestitures and product-line exits, leaving a stronger emphasis on higher-growth Med Tech offerings such as Auryon, NanoKnife, and mechanical thrombectomy platforms. AngioDynamics sells primarily to hospitals and specialist physicians, using a direct sales force in the United States and distributors internationally. The company is headquartered in Latham, New York, with manufacturing primarily in Queensbury, New York, and is listed on Nasdaq under the ticker ANGO.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueHigher-growth technologies for peripheral vascular disease, thrombus management, and oncology procedures, including Auryon, NanoKnife, and thrombectomy systems.
Core vascular access, venous, and other procedural devices sold to hospitals and clinicians, including legacy and disposable product lines.
Customers
AngioDynamics sells to healthcare providers that perform image-guided, minimally invasive procedures, especially in vascular and oncology settings. Its core users include interventional radiologists, interventional cardiologists, vascular surgeons, urologists, interventional and surgical oncologists, and critical care nurses. Buying decisions are driven by clinical outcomes, ease of use, reliability, physician familiarity, and cost-effectiveness, with price pressure increasing as managed care and provider consolidation expand. The company’s products are typically purchased by hospitals, ambulatory and specialty care settings, and physician groups that need disposable or temporarily implanted devices for procedure-based care. Internationally, distributors play a larger role, reflecting local regulatory and commercial requirements.
Buy AngioDynamics devices for inpatient and outpatient procedures where minimally invasive vascular and oncology tools are used repeatedly across departments.
Interventional radiologists, cardiologists, vascular surgeons, and oncologists buy specific platforms such as Auryon, NanoKnife, and thrombectomy systems because they affect procedural performance and outcomes.
Use vascular access and support products in routine care pathways where ease of use and reliability matter.
Purchase and resell products outside the U.S., helping the company reach markets where direct commercial infrastructure is less efficient.
Strategy
AngioDynamics is repositioning the business toward its Med Tech portfolio, which management describes as the main engine for future growth. The company is investing in R&D, clinical evidence, and regulatory pathway expansion to support products such as Auryon, mechanical thrombectomy systems, and NanoKnife. It is also streamlining the portfolio through divestitures, product-line discontinuations, and a manufacturing-footprint restructuring that shifts more production to third-party manufacturers. That restructuring is intended to improve gross margin and reduce cost, while preserving a smaller U.S. manufacturing presence for select products and operational functions. Commercially, the company is focused on customer-centric selling, physician training, and international expansion to widen adoption of its higher-technology platforms.
These platforms are positioned as the company’s main access points to larger and faster-growing markets.
Moving most production to outsourced manufacturing is intended to lower cost and improve gross margin profile.
Medical device adoption depends on evidence generation, physician familiarity, and regulatory clearances across jurisdictions.
Geography
Q3/2026AngioDynamics is headquartered in Latham, New York, and manufactures primarily in Queensbury, New York. The United States is its largest market, with sales handled mainly through a direct sales force, while international business is supported by distributors and some direct sales. In the most recent quarter disclosed, U.S. sales were $66.5 million versus $9.3 million internationally, showing a strong domestic concentration. Geography matters because the company’s manufacturing footprint, regulatory clearances, reimbursement dynamics, and distributor relationships differ materially between the U.S. and overseas markets. The company has also stated that it expects growth from geographic expansion and increased international presence.
Share of the revenue the company reports by geography.
Risks
AngioDynamics faces intense competition in a medical device market where larger rivals often have greater resources, broader product portfolios, and stronger pricing power. Its business is exposed to reimbursement pressure, provider consolidation, and value-based purchasing, which can force price competition and slow adoption of new products. The company also depends on successful product development, regulatory approvals, and clinical trial outcomes, so delays or unfavorable data can directly affect growth. Operationally, supply chain disruption, labor shortages, inflation, tariffs, and manufacturing execution risk can affect availability, cost, and margins, especially as the company restructures production. Cybersecurity, intellectual property protection, and distributor execution are additional risks because the company relies on digital systems, third parties, and physician trust to sell and support its devices.
- Competitive pressure and market share lossImpact: HighLikelihood: High
The company competes against larger device makers with more resources, and customers evaluate technology, outcomes, ease of use, and price.
Exposure - Reimbursement and pricing pressureImpact: HighLikelihood: High
Managed care, provider consolidation, and value-based purchasing can compress pricing and reduce adoption of premium devices.
Exposure: U.S. hospital and physician customers
- Supply chain and manufacturing disruptionImpact: HighLikelihood: High
Inflation, raw material availability, labor shortages, shipping costs, and the shift to outsourced manufacturing can affect delivery and margins.
Exposure: Queensbury operations and third-party manufacturers
- Regulatory and clinical development riskImpact: HighLikelihood: Medium
Growth depends on FDA clearances, foreign approvals, and successful clinical trials for new or expanded indications.
Exposure - Cybersecurity and data integrity breachesImpact: MediumLikelihood: Medium
A breach could disrupt operations, expose IP, create legal liability, and damage customer relationships.
Exposure
Accounting
Judgemental itemsNet sales are reduced by discounts, rebates, and returns, so reported revenue depends on estimate accuracy and shipment timing.
Impact: Can affect quarterly comparability and reported growth rates
The company recorded a large goodwill impairment in the prior year, showing that asset values are sensitive to forecast assumptions.
Impact: Can create material non-cash charges
Acquisition-related earn-outs are remeasured based on milestone probabilities and discounting.
Impact: Can move other income/expense and earnings
The manufacturing footprint change requires estimates for severance, transition costs, and savings realization.
Impact: Affects operating expenses, margins, and cash flow
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Last updated: 24/09/2026