# AngioDynamics, Inc

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/AngioDynamics, Inc).

## Overview

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.

## Products & services

• Auryon laser atherectomy system for PAD
• NanoKnife irreversible electroporation platform
• AngioVac and AlphaVac thrombectomy systems
• VenaCure EVLT venous insufficiency systems
• Core and Venous vascular access products
• Oncology and surgical disposable devices
• International sales and distributor support

- **Med Tech** (48%) — Higher-growth technologies for peripheral vascular disease, thrombus management, and oncology procedures, including Auryon, NanoKnife, and thrombectomy systems.
- **Med Device** (52%) — Core vascular access, venous, and other procedural devices sold to hospitals and clinicians, including legacy and disposable product lines.

- Auryon laser atherectomy system for peripheral artery disease
- NanoKnife irreversible electroporation platform
- AngioVac and AlphaVac mechanical thrombectomy systems
- VenaCure EVLT laser system for venous insufficiency
- Core and Venous vascular access products
- Oncology and surgical disposable devices
- International sales and distributor support

## 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.

- **Hospitals and health systems** (primary) — Buy AngioDynamics devices for inpatient and outpatient procedures where minimally invasive vascular and oncology tools are used repeatedly across departments.
- **Interventional specialists** (primary) — Interventional radiologists, cardiologists, vascular surgeons, and oncologists buy specific platforms such as Auryon, NanoKnife, and thrombectomy systems because they affect procedural performance and outcomes.
- **Critical care and procedural nursing teams** (secondary) — Use vascular access and support products in routine care pathways where ease of use and reliability matter.
- **International distributors** (secondary) — Purchase and resell products outside the U.S., helping the company reach markets where direct commercial infrastructure is less efficient.

- Hospitals and health systems buying procedure devices for vascular and oncology care
- Interventional radiologists using atherectomy, access, and thrombus tools
- Interventional cardiologists and vascular surgeons treating PAD and venous disease
- Oncologists and surgical oncologists using NanoKnife and related technologies
- Critical care teams using vascular access and drainage products
- International distributors serving local clinicians and hospital accounts

## Geography

AngioDynamics 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.

- **United States** (87.7%) — Based on the quarter ended Aug. 31, 2025 disclosed sales mix.
- **International** (12.3%) — Based on the quarter ended Aug. 31, 2025 disclosed sales mix.

- Headquartered in Latham, New York
- Primary manufacturing in Queensbury, New York
- U.S. sales are mainly direct-to-customer
- International sales rely heavily on distributors
- Most recent quarter: U.S. revenue far exceeded international revenue
- Geographic expansion is part of the growth strategy

## 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.

- **Grow Auryon, thrombectomy, and NanoKnife** (medium-term) — These platforms are positioned as the company’s main access points to larger and faster-growing markets.
- **Restructure manufacturing footprint** (short-term) — Moving most production to outsourced manufacturing is intended to lower cost and improve gross margin profile.
- **Expand clinical and regulatory support** (medium-term) — Medical device adoption depends on evidence generation, physician familiarity, and regulatory clearances across jurisdictions.

- Shift portfolio mix toward higher-growth Med Tech products
- Invest in R&D and clinical evidence to support adoption
- Expand regulatory clearances and market access
- Streamline the business through divestitures and exits
- Restructure manufacturing to improve gross margin
- Grow internationally through distributors and physician training

## 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 loss** [high] — The company competes against larger device makers with more resources, and customers evaluate technology, outcomes, ease of use, and price.
- **Reimbursement and pricing pressure** [high] — Managed care, provider consolidation, and value-based purchasing can compress pricing and reduce adoption of premium devices.
- **Regulatory and clinical development risk** [high] — Growth depends on FDA clearances, foreign approvals, and successful clinical trials for new or expanded indications.
- **Supply chain and manufacturing disruption** [high] — Inflation, raw material availability, labor shortages, shipping costs, and the shift to outsourced manufacturing can affect delivery and margins.
- **Cybersecurity and data integrity breaches** [medium] — A breach could disrupt operations, expose IP, create legal liability, and damage customer relationships.

- Intense competition from larger medical device companies
- Pricing pressure from managed care and provider consolidation
- Dependence on regulatory clearances and clinical evidence
- Supply chain, labor, inflation, and tariff exposure
- Manufacturing transition and outsourcing execution risk
- Cybersecurity and intellectual property protection risk
- Distributor and partner dependence outside the U.S.

## Accounting

AngioDynamics’ reported results are affected by revenue recognition on product sales, which are recognized net of discounts, rebates, and returns and can fluctuate with shipment timing. Quarterly comparisons can be distorted by divestitures and discontinued product lines, so investors need to separate underlying growth in Med Tech from portfolio shrinkage in Med Device. The company has also recorded significant goodwill and intangible asset charges in recent periods, showing that valuation and impairment testing are important judgment areas. Contingent consideration from acquisitions, such as the Eximo-related liability, introduces fair value remeasurement risk and can move non-operating expense. Because the company is restructuring manufacturing and using third-party manufacturers, inventory, cost of goods sold, and restructuring accruals are also important areas to monitor.

- **Revenue recognition on product sales** — Can affect quarterly comparability and reported growth rates
- **Goodwill and intangible asset impairment** — Can create material non-cash charges
- **Contingent consideration fair value** — Can move other income/expense and earnings
- **Restructuring and outsourcing transition accruals** — Affects operating expenses, margins, and cash flow

- Product revenue is recognized net of discounts, rebates, and returns
- Divestitures and discontinued lines distort year-over-year comparability
- Goodwill and intangible impairment testing can create large non-cash charges
- Contingent consideration is remeasured based on milestone expectations
- Manufacturing restructuring affects inventory, COGS, and accruals
- Quarterly results can be volatile due to product mix and shipment timing

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*Last updated: 2026-08-11T04:46:17.982483+00:00*