Revenue growth has reaccelerated to 8.0% in 2026Q4, but operating losses widened to -$20.4M as SG&A expenses surged to 47.8% of revenue, preventing any margin expansion.
AngioDynamics, Inc. (ANGO) annual income statement — 25-year revenue, gross profit & net income history
| Metric | May'26 | May'25 | May'24 | May'23 | May'22 | May'21 | May'20 | May'19 | May'18 | May'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 | May'09 | May'08 | May'07 | May'06 | May'05 | May'04 | May'03 | May'02 |
|---|
| Sales/Revenue | 320.17M | 292.5M | 303.91M | 338.75M | 316.22M | 291.01M | 264.16M | 359.48M | 344.29M | 349.64M | 353.69M | 356.97M | 354.45M | 342.03M | 221.79M | 215.96M | 216.03M | 195.05M | 166.5M | 112.23M | 78.45M | 60.29M | 49.05M | 38.43M | 30.89M |
| Revenue Growth % | 9.46% | -3.76% | -10.28% | 7.13% | 8.66% | 10.17% | -26.52% | 4.41% | -1.53% | -1.14% | -0.92% | 0.71% | 3.63% | 54.21% | 2.7% | -0.04% | 10.76% | 17.15% | 48.36% | 43.05% | 30.12% | 22.9% | 27.63% | 24.42% | - |
| Cost of Goods Sold | 145.28M | 134.79M | 149.22M | 164.51M | 150.49M | 134.22M | 113.89M | 114.63M | 117.8M | 125.84M | 179.57M | 180.74M | 174.25M | 173.4M | 96.61M | 90.05M | 89.07M | 74.99M | 63.91M | 46.06M | 32.93M | 26.91M | 23.25M | 18.57M | 15.33M |
| COGS % of Revenue | 45.38% | 46.08% | 49.1% | 48.56% | 47.59% | 46.12% | 43.11% | 31.89% | 34.22% | 35.99% | 50.77% | 50.63% | 49.16% | 50.7% | 43.56% | 41.7% | 41.23% | 38.45% | 38.39% | 41.04% | 41.98% | 44.64% | 47.4% | 48.32% | 49.64% |
| Gross Profit | 174.89M | 157.71M | 154.7M | 174.25M | 165.73M | 156.79M | 150.27M | 156M | 143.86M | 143.95M | 174.32M | 175.8M | 180.17M | 168.51M | 125.31M | 125.7M | 126.97M | 120.06M | 102.59M | 66.17M | 45.52M | 33.38M | 25.8M | 19.86M | 15.56M |
| Gross Margin % | 54.62% | 53.92% | 50.9% | 51.44% | 52.41% | 53.88% | 56.89% | 43.4% | 41.78% | 41.17% | 49.29% | 49.25% | 50.83% | 49.27% | 56.5% | 58.21% | 58.77% | 61.55% | 61.61% | 58.96% | 58.02% | 55.36% | 52.6% | 51.68% | 50.36% |
| Gross Profit Growth % | 10.9% | 1.94% | -11.22% | 5.14% | 5.7% | 4.34% | -3.67% | 8.44% | -0.07% | -17.42% | -0.84% | -2.43% | 6.92% | 34.48% | -0.31% | -1% | 5.75% | 17.04% | 55.04% | 45.35% | 36.38% | 29.36% | 29.9% | 27.67% | - |
| Operating Expenses | 214.82M | 197.66M | 347.13M | 225.43M | 194.2M | 192.07M | 317.37M | 165.4M | 158.03M | 155.13M | 173.3M | 179.25M | 169.69M | 162.23M | 129.22M | 113.74M | 106.1M | 103.96M | 86.35M | 77.39M | 35.22M | 25.65M | 20.68M | 16.62M | 13.17M |
| OpEx % of Revenue | 67.09% | 67.58% | 114.22% | 66.55% | 61.41% | 66% | 120.14% | 46.01% | 45.9% | 44.37% | 49% | 50.21% | 47.87% | 47.43% | 58.26% | 52.67% | 49.11% | 53.3% | 51.86% | 68.96% | 44.89% | 42.55% | 42.15% | 43.25% | 42.63% |
| Selling, General & Admin | 157.09M | 145.23M | 143.98M | 144.25M | 133.75M | 117.22M | 116.51M | 116.13M | 108.54M | 110.22M | 114.12M | 110.49M | 109.23M | 102.25M | 82.84M | 75.95M | 77.36M | 76.92M | 61.47M | 56.84M | 29.35M | 21.08M | 17.13M | 14.12M | 11.22M |
| SG&A % of Revenue | 49.06% | 49.65% | 47.38% | 42.58% | 42.3% | 40.28% | 44.1% | 32.3% | 31.53% | 31.52% | 32.26% | 30.95% | 30.82% | 29.89% | 37.35% | 35.17% | 35.81% | 39.44% | 36.92% | 50.64% | 37.41% | 34.96% | 34.91% | 36.73% | 36.32% |
| Research & Development | 29.45M | 26.22M | 31.51M | 29.88M | 30.74M | 36.39M | 29.68M | 29.43M | 25.46M | 25.27M | 25.13M | 26.93M | 27.51M | 26.32M | 20.51M | 21.37M | 19.27M | 17.91M | 14.42M | 20.55M | 5.87M | 4.57M | 3.55M | 2.51M | 1.95M |
| R&D % of Revenue | 9.2% | 8.96% | 10.37% | 8.82% | 9.72% | 12.5% | 11.24% | 8.19% | 7.39% | 7.23% | 7.1% | 7.54% | 7.76% | 7.7% | 9.25% | 9.9% | 8.92% | 9.18% | 8.66% | 18.32% | 7.48% | 7.58% | 7.24% | 6.53% | 6.32% |
| Other Operating Expenses | 28.28M | 26.21M | 171.64M | 51.29M | 29.71M | 38.46M | 171.18M | 25.41M | 29.59M | 24.98M | 33.92M | 40.27M | 29.36M | 33.6M | 25.17M | 16.42M | 9.46M | 9.13M | 10.46M | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -39.93M | -39.95M | -192.44M | -51.18M | -28.47M | -35.28M | -167.1M | -9.4M | -14.17M | -11.18M | 1.02M | -3.45M | 10.49M | 6.29M | -3.91M | 11.96M | 20.87M | 16.1M | 16.24M | -11.22M | 10.31M | 7.73M | 5.12M | 3.24M | 2.39M |
| Operating Margin % | -12.47% | -13.66% | -63.32% | -15.11% | -9% | -12.12% | -63.26% | -2.61% | -4.12% | -3.2% | 0.29% | -0.97% | 2.96% | 1.84% | -1.76% | 5.54% | 9.66% | 8.26% | 9.75% | -10% | 13.14% | 12.82% | 10.44% | 8.42% | 7.73% |
| Operating Income Growth % | 0.07% | 79.24% | -275.99% | -79.77% | 19.31% | 78.88% | -1678.4% | 33.69% | -26.8% | -1197.74% | 129.52% | -132.89% | 66.78% | 260.9% | -132.67% | -42.68% | 29.6% | -0.81% | 244.64% | -208.92% | 33.38% | 50.83% | 58.21% | 35.59% | - |
| EBITDA | -36M | -14.15M | -164.72M | -20.31M | 878K | -9.37M | -143.29M | 16.48M | 8.99M | 13.64M | 29.13M | 26.41M | 38.97M | 37.36M | 11.2M | 24.54M | 33.4M | 28.16M | 25.11M | -7.82M | 11.39M | 8.5M | 5.8M | 3.9M | 2.96M |
| EBITDA Margin % | -11.24% | -4.84% | -54.2% | -5.99% | 0.28% | -3.22% | -54.25% | 4.59% | 2.61% | 3.9% | 8.24% | 7.4% | 10.99% | 10.92% | 5.05% | 11.36% | 15.46% | 14.44% | 15.08% | -6.96% | 14.52% | 14.1% | 11.83% | 10.13% | 9.57% |
| EBITDA Growth % | -154.35% | 91.41% | -711.12% | -2412.98% | 109.37% | 93.46% | -969.29% | 83.3% | -34.05% | -53.19% | 10.3% | -32.22% | 4.3% | 233.6% | -54.37% | -26.52% | 18.61% | 12.16% | 421.2% | -168.63% | 34.01% | 46.42% | 49.01% | 31.72% | - |
| D&A (Non-Cash Add-back) | 0 | 25.8M | 27.71M | 30.87M | 29.35M | 25.92M | 23.8M | 25.88M | 23.16M | 24.81M | 28.11M | 29.86M | 28.48M | 31.07M | 15.11M | 12.58M | 12.53M | 12.05M | 8.87M | 3.41M | 1.08M | 771K | 681K | 657K | 569K |
| EBIT | -36M | -24.06M | -33.84M | -18.68M | -18.22M | -35.19M | -167.23M | -9.6M | -14.2M | -11.46M | 132K | -4.94M | 8.84M | 3.68M | -4.91M | 11.2M | 20.29M | 15.88M | 16.24M | -11.22M | 10.31M | 7.73M | 5.12M | 3.24M | 2.39M |
| Net Interest Income | -299K | 978K | 1.61M | -2.7M | -688K | -861K | -907K | -5.1M | -3.06M | -2.84M | -3.38M | -3.19M | -3.66M | -5.17M | 582K | 238K | 41K | 828K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 978K | 1.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11K | 4K | 0 | 103K | 1.09M | 737K | 713K | 1.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 299K | 0 | 0 | 2.7M | 688K | 861K | 907K | 5.1M | 3.06M | 2.84M | 3.4M | 3.2M | 3.66M | 5.27M | 508K | 499K | 672K | 731K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 3.63M | 5.92M | 797K | -3.26M | -1.48M | -769K | -1.04M | -5.31M | -3.09M | -3.12M | -4.27M | -4.68M | -5.3M | -7.88M | -1.51M | -1.26M | -1.25M | -952K | 1.09M | 4.05M | 816K | -109K | -742K | -983K | -818K |
| Pretax Income | -36.3M | -34.03M | -191.64M | -54.44M | -29.95M | -36.05M | -168.13M | -14.7M | -17.26M | -14.29M | -3.25M | -8.13M | 5.19M | -1.59M | -5.42M | 10.7M | 19.62M | 15.15M | 17.33M | -7.17M | 11.12M | 7.62M | 4.38M | 2.25M | 1.57M |
| Pretax Margin % | -11.34% | -11.63% | -63.06% | -16.07% | -9.47% | -12.39% | -63.65% | -4.09% | -5.01% | -4.09% | -0.92% | -2.28% | 1.46% | -0.46% | -2.44% | 4.95% | 9.08% | 7.77% | 10.41% | -6.39% | 14.18% | 12.64% | 8.93% | 5.87% | 5.08% |
| Income Tax | 442K | -39K | -7.29M | -2M | -3.4M | -4.5M | -1.35M | -3.56M | -11.04M | -7.24M | 40.34M | -4.74M | 2.84M | -376K | -239K | 2.58M | 7.31M | 5.22M | 6.44M | 1.96M | 4.26M | 3.07M | 1.24M | 1.07M | 561K |
| Effective Tax Rate % | -1.22% | 0.11% | 3.8% | 3.66% | 11.36% | 12.49% | 0.8% | 24.19% | 63.93% | 50.67% | -1239.99% | 58.33% | 54.74% | 23.69% | 4.41% | 24.13% | 37.24% | 34.45% | 37.16% | -27.26% | 38.27% | 40.29% | 28.26% | 47.41% | 35.73% |
| Net Income | -36.74M | -33.99M | -184.35M | -52.44M | -26.55M | -31.55M | -166.79M | 61.34M | 16.34M | -7.05M | -43.59M | -3.39M | 2.35M | -1.21M | -5.18M | 8.12M | 12.31M | 9.93M | 10.89M | -9.13M | 6.87M | 4.55M | 3.14M | 1.19M | 1.01M |
| Net Margin % | -11.48% | -11.62% | -60.66% | -15.48% | -8.4% | -10.84% | -63.14% | 17.06% | 4.74% | -2.02% | -12.32% | -0.95% | 0.66% | -0.35% | -2.34% | 3.76% | 5.7% | 5.09% | 6.54% | -8.13% | 8.75% | 7.54% | 6.41% | 3.09% | 3.27% |
| Net Income Growth % | -8.09% | 81.56% | -251.53% | -97.54% | 15.85% | 81.08% | -371.91% | 275.51% | 331.64% | 83.82% | -1186.6% | -244.35% | 293.81% | 76.64% | -163.85% | -34.07% | 23.96% | -8.79% | 219.31% | -232.93% | 50.97% | 44.7% | 165.01% | 17.54% | - |
| Net Income (Continuing) | -36.74M | -33.99M | -184.35M | -52.44M | -26.55M | -31.55M | -166.79M | -11.15M | -6.23M | -7.05M | -43.59M | -3.39M | 2.35M | -1.21M | -5.18M | 8.12M | 12.31M | 9.93M | 10.89M | -9.13M | 6.87M | 4.55M | 3.14M | 1.19M | 1.01M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72.49M | 22.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.88 | -0.83 | -4.59 | -1.33 | -0.68 | -0.82 | -4.37 | 1.64 | 0.44 | 0.19 | -1.23 | -0.09 | 0.09 | -0.02 | -0.20 | 0.33 | 0.50 | 0.41 | 0.45 | -0.49 | 0.53 | 0.37 | 0.32 | 0.13 | 0.11 |
| EPS Growth % | -6.02% | 81.92% | -245.11% | -95.59% | 17.07% | 81.24% | -366.46% | 272.73% | 131.58% | 115.45% | -1242.79% | -201.78% | 611.36% | 91.2% | -160.61% | -34% | 21.95% | -8.89% | 191.84% | -192.45% | 43.24% | 15.63% | 146.15% | 18.18% | - |
| EPS (Basic) | -0.88 | -0.83 | -4.59 | -1.33 | -0.68 | -0.82 | -4.37 | 1.64 | 0.44 | 0.19 | -1.23 | -0.09 | 0.09 | -0.02 | -0.20 | 0.33 | 0.50 | 0.41 | 0.45 | -0.49 | 0.55 | 0.39 | 0.34 | 0.13 | 0.11 |
| Diluted Shares Outstanding | 41.53M | 40.98M | 40.18M | 39.48M | 39.01M | 38.34M | 37.96M | 37.48M | 37.54M | 36.96M | 36.16M | 35.68M | 35.44M | 34.82M | 25.38M | 25.13M | 24.79M | 24.51M | 24.35M | 18.44M | 12.96M | 12.33M | 9.84M | 9.47M | 9.34M |
| Basic Shares Outstanding | 41.53M | 40.98M | 40.18M | 39.48M | 39.01M | 38.34M | 37.96M | 37.48M | 37.08M | 36.62M | 36.02M | 35.68M | 35.14M | 34.82M | 25.38M | 24.87M | 24.58M | 24.36M | 24.08M | 18.44M | 12.38M | 11.57M | 9.22M | 9.2M | 9.2M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying ANGO stock.
For fiscal year 2026, AngioDynamics, Inc. (ANGO) reported total revenue of $320.2M. This represents a 936.5% increase compared to $30.9M in 2002.
AngioDynamics, Inc. (ANGO) reported a net loss of $36.7M for the fiscal year ending 2026.
AngioDynamics, Inc. (ANGO) reported an operating income of $-39.9M, resulting in an operating profit margin of -12.5%. This margin reflects the operational efficiency of the business before interest and taxes.
AngioDynamics, Inc. (ANGO) generated $174.9M in gross profit for the year, representing a gross profit margin of 54.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent operating losses and cash burn
Metrics are mathematically derived from official filings.
Revenue Growth Reaccelerates
AngioDynamics' revenue growth has reaccelerated to 8.0% in 2026Q4, a significant improvement from the negative growth seen in early 2025, suggesting a potential turnaround in commercial execution.
The company has posted four consecutive quarters of positive year-over-year revenue growth, accelerating from -14.2% in 2025Q1 to 8.0% in 2026Q4. This trend indicates that the top-line headwinds that pressured results in 2024 and early 2025 may be abating. However, the durability of this reacceleration is uncertain, as it follows a period of significant contraction and the company remains unprofitable.
Gross Margin Volatility Amidst Recovery
Gross margin expanded to 57.1% in 2026Q4, the highest in the observed period, yet remains well below the 74%+ levels of peers like Novocure and AtriCure, indicating a different product mix or cost structure.
The recent gross margin expansion to 57.1% is a positive development, up from a low of 47.7% in 2024Q3. This suggests improved pricing or a more favorable product mix as revenue grows. However, the margin remains structurally lower than key peers, which may reflect AngioDynamics' focus on different, potentially more commoditized, medical devices or higher manufacturing costs that warrant further investigation.
Operating Leverage Remains Elusive
Despite revenue growth, operating losses widened to -$20.4M in 2026Q4, indicating that SG&A and R&D expenses are scaling faster than gross profit, preventing the company from achieving operating leverage.
The company's operating margin deteriorated to -23.5% in 2026Q4 from -7.2% a year prior, even as revenue grew. This implies that the incremental gross profit from higher sales is being consumed by rising operating expenses, particularly SG&A which jumped to $41.4M. The lack of operating leverage is a critical concern, as it suggests the current growth is not yet translating into improved profitability.
Elevated SG&A Burden
SG&A expenses represented 47.8% of revenue in 2026Q4, a significant increase from 45.8% in 2025Q4, indicating that sales and administrative costs are growing faster than the top line and pressuring profitability.
The primary drag on profitability is the SG&A line, which has consistently consumed nearly half of revenue. The increase in SG&A as a percentage of sales suggests that the company is investing heavily in commercial infrastructure to drive the recent revenue reacceleration. Investors should monitor whether this spending is a temporary investment for growth or a sign of structural inefficiency.
Profitability Gap vs. Peers
AngioDynamics' persistent operating losses and negative net margins contrast sharply with profitable peers like Merit Medical and CONMED, raising questions about the sustainability of its business model without a clear path to profitability.
While revenue growth is encouraging, the company's -23.5% operating margin in 2026Q4 is a stark outlier compared to peers like Merit Medical (12.2% Op Margin) and CONMED (10.3% Op Margin). This significant profitability gap suggests that AngioDynamics may face fundamental challenges in cost control, pricing power, or scale that its competitors have overcome. The continued cash burn, evidenced by negative net income, underscores the risk that the growth may not be self-funding.