Revenue growth remains highly volatile, fluctuating from a 22.1% contraction in 2024Q4 to an 8.9% expansion in 2026Q3, while operating margins remain negative at -8.2% in the most recent quarter.
| Metric | TTM | 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 | 313.73M | 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 % | 10.73% | -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 | 146.03M | 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 | - | 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 | 167.69M | 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 % | 53.45% | 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 % | - | 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 | 193.06M | 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 | - | 67.58% | 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 | 152.38M | 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 | - | 49.65% | 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 | 27.86M | 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 | - | 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 | 3M | 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 | -25.36M | -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 % | -8.08% | -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 % | - | 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 | -2.1M | -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 % | -0.67% | -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 % | 90.37% | 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) | 23.26M | 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 | -28.7M | -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 | -191K | 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 | 3K | 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 | 194K | 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 | -6.01M | 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 | -31.38M | -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 % | -10% | -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 | 12K | -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 % | -0.04% | 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 | -31.39M | -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 % | -10% | -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 % | 24.17% | 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) | -31.39M | -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) | -0.75 | -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 % | 25.74% | 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) | - | -0.83 | -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 | 41.6M | 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 | 41.6M | 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 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent Operating Losses
According to quarterly financial disclosures, ANGO's revenue growth has fluctuated significantly, moving from a 22.1% contraction in 2024Q4 to a 12.9% expansion by 2025Q4, suggesting that the company's transition toward high-margin oncology products is not yet yielding a consistent or predictable top-line trajectory.
The erratic revenue performance appears to reflect the ongoing divestiture of legacy vascular access assets, which complicates the assessment of organic growth. Investors should monitor whether the recent stabilization in the $75M-$80M quarterly range represents a sustainable floor or merely a temporary plateau before further portfolio rationalization.
As reported in recent income statements, ANGO has maintained gross margins in the 52.7% to 55.3% range over the last four quarters, indicating that the company's shift toward specialized Med Tech offerings is successfully offsetting the loss of higher-volume, lower-margin legacy product lines.
While these margins are competitive within the medical device space, they remain insufficient to absorb the company's current operating expense structure. The inability to expand gross margins beyond the mid-50s suggests that pricing power may be constrained by competitive pressures in the interventional oncology market.
Based on the provided income statement data, ANGO continues to struggle with operating leverage, as SG&A expenses frequently exceed 45% of revenue, preventing the company from scaling its operating income despite the recent improvements in gross profit contribution across the last several quarters.
The persistent negative operating margins suggest that the company's fixed cost base is disproportionately high relative to its current revenue scale. Without a significant inflection in top-line growth or a drastic reduction in overhead, the path to achieving positive operating income appears increasingly difficult to forecast.
Analysis of recent filings reveals that ANGO consistently records stock-based compensation expenses, such as the $2.7M reported in 2026Q3, which effectively exacerbates the net loss and dilutes shareholders while the company remains unable to generate positive GAAP earnings from its core operations.
The reliance on equity-based incentives during a period of sustained net losses warrants caution, as it suggests a misalignment between management compensation and operational profitability. Investors should scrutinize whether these non-cash charges are masking the true extent of the cash burn required to sustain the current clinical trial pipeline.
Data from the last ten quarters indicates that ANGO's operating losses are not merely transitory, as the company has failed to achieve a positive operating margin in any period since 2024Q2, raising concerns about the long-term viability of its current business model and capital allocation strategy.
Short-sellers may focus on the company's inability to reach break-even despite multiple rounds of portfolio optimization and divestitures. This trend suggests that the core business may lack the necessary scale to compete effectively against larger, more diversified peers who benefit from superior operating leverage.
Quick answers to the most common questions about buying ANGO stock.
For fiscal year 2025, AngioDynamics, Inc. (ANGO) reported total revenue of $292.5M. This represents a 846.9% increase compared to $30.9M in 2002.
AngioDynamics, Inc. (ANGO) reported a net loss of $34.0M for the fiscal year ending 2025.
AngioDynamics, Inc. (ANGO) reported an operating income of $-40.0M, resulting in an operating profit margin of -13.7%. This margin reflects the operational efficiency of the business before interest and taxes.
AngioDynamics, Inc. (ANGO) generated $157.7M in gross profit for the year, representing a gross profit margin of 53.9%. This demonstrates the company's core pricing power and production efficiency.