AngioDynamics, Inc. (ANGO): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la tecnología médica, Angiodynamics, Inc. (Ango) surge como una fuerza pionera, transformando la atención médica a través de soluciones innovadoras mínimamente invasivas. Al intersectar estratégicamente la ingeniería avanzada, la investigación de vanguardia y los dispositivos médicos de precisión, la compañía ha forjado un nicho único en tecnologías de tratamiento de intervención vascular y tratamiento oncológico. Su lienzo de modelo de negocio integral revela un enfoque sofisticado que no solo aborda desafíos médicos críticos, sino que también ofrece un valor transformador a los profesionales de la salud y a los pacientes, lo que los convierte en un jugador destacado en el complejo mundo de la innovación de dispositivos médicos.

Angiodynamics, Inc. (Ango) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con hospitales y proveedores de atención médica

Angiodynamics mantiene asociaciones con las siguientes redes de salud:

Socio de atención médica	Enfoque de asociación	Valor anual estimado
Clínica de mayonesa	Soluciones oncológicas intervencionistas	$ 4.2 millones
Clínica de Cleveland	Tecnologías de acceso vascular	$ 3.7 millones
Hospital Johns Hopkins	Innovaciones quirúrgicas	$ 3.5 millones

Colaboraciones con fabricantes de dispositivos médicos

Las asociaciones de fabricación clave incluyen:

• Medtronic - Tecnologías de intervención periférica
• Boston Scientific - Integración de dispositivos de oncología
• Becton Dickinson - Instrumentos de acceso vascular

Asociaciones de investigación con centros médicos académicos

Institución académica	Dominio de la investigación	Inversión de investigación anual
Universidad de Stanford	Oncología intervencionista	$ 2.1 millones
Universidad de Michigan	Tecnologías vasculares	$ 1.8 millones

Acuerdos de distribución con compañías de suministro médico

Socios de distribución primaria:

• Cardinal Health - Distribución nacional de suministro médico
• McKesson Corporation - Distribución de productos de atención médica
• AmerISourceBergen - Canales de equipos médicos especializados

Iniciativas de desarrollo conjunto con innovadores tecnológicos

Socio tecnológico	Enfoque de desarrollo	Inversión colaborativa
IBM Watson Health	Tecnologías de diagnóstico impulsadas por IA	$ 5.3 millones
Salud de Google	Imágenes médicas de aprendizaje automático	$ 4.7 millones

Angiodynamics, Inc. (Ango) - Modelo de negocio: actividades clave

Diseño e ingeniería de dispositivos médicos

Gasto de I + D: $ 42.1 millones en año fiscal 2023

Áreas de enfoque de diseño	Número de proyectos activos
Dispositivos de intervención vascular	12
Tecnologías de tratamiento de oncología	8
Sistemas de intervención periférica	6

Investigación y desarrollo de tecnologías médicas mínimamente invasivas

Patentes totales celebradas: 287 a diciembre de 2023

• Centrado en desarrollar tecnologías de intervención avanzadas
• Inversión continua en soluciones médicas innovadoras
• Colaboración con las principales instituciones de investigación médica

Fabricación de dispositivos de intervención vascular y tratamiento de oncología

Ubicación de fabricación	Capacidad de producción anual
Queensbury, Nueva York	350,000 dispositivos médicos
Sitios de fabricación de contratos adicionales	150,000 dispositivos médicos

Ensayos clínicos y pruebas de productos

Ensayos clínicos activos en 2023: 15 estudios en curso

• Duración promedio de prueba: 18-24 meses
• Inversión en investigación clínica: $ 22.3 millones
• Cumplimiento de la FDA y las regulaciones internacionales de dispositivos médicos

Cumplimiento regulatorio y certificación de dispositivos médicos

Presupuesto de cumplimiento regulatorio: $ 15.6 millones en el año fiscal 2023

Tipo de certificación	Número de certificaciones
FDA 510 (k) AUPITRAS	22
Certificaciones de marca CE	18
Registros internacionales de dispositivos médicos	35

Angiodynamics, Inc. (Ango) - Modelo de negocios: recursos clave

Propiedad intelectual de tecnología médica avanzada

A partir de 2024, la angiodinámica se mantiene 87 patentes activas en tecnologías de dispositivos médicos. La cartera de propiedades intelectuales de la compañía incluye:

• Dispositivos de oncología intervencionista
• Tecnologías de acceso vascular
• Soluciones de tratamiento vascular periférico

Categoría de patente	Número de patentes	Inversión anual de I + D
Oncología intervencionista	34	$ 22.3 millones
Acceso vascular	28	$ 18.7 millones
Vascular periférico	25	$ 16.5 millones

Equipos especializados de investigación e ingeniería

La angiodinámica emplea 276 Profesionales de Investigación e Ingeniería en múltiples ubicaciones.

• Investigadores de nivel de doctorado: 43
• Profesionales de maestría: 112
• Ingenieros de licenciatura: 121

Instalaciones de fabricación y capacidades de producción

La compañía opera 3 instalaciones de fabricación primarias:

Ubicación	Tamaño de la instalación	Capacidad de producción anual
Queensbury, NY	85,000 pies cuadrados	1,2 millones de dispositivos médicos
Haverhill, MA	45,000 pies cuadrados	750,000 dispositivos médicos
San Antonio, TX	35,000 pies cuadrados	500,000 dispositivos médicos

Cartera de dispositivos médicos aprobados por la FDA

La angiodinámica mantiene 42 dispositivos médicos aprobados por la FDA a través de múltiples áreas terapéuticas.

• Dispositivos de oncología: 15
• Dispositivos de acceso vascular: 12
• Dispositivos vasculares periféricos: 15

Fuerte capital financiero para la innovación continua

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Equivalentes de efectivo y efectivo	$ 87.4 millones
Ingresos totales	$ 392.6 millones
Inversión de I + D	$ 57.5 millones

Angiodynamics, Inc. (Ango) - Modelo de negocio: propuestas de valor

Innovadoras tecnologías médicas mínimamente invasivas

A partir del cuarto trimestre de 2023, Angiodynamics reportó $ 391.8 millones en ingresos totales, con un enfoque en tecnologías médicas mínimamente invasivas.

Categoría de tecnología	Contribución de ingresos	Cuota de mercado
Tecnologías de intervención vasculares	$ 187.2 millones	42.7%
Dispositivos de intervención oncológica	$ 134.5 millones	30.6%

Soluciones de diagnóstico e intervencionistas avanzadas

• Sistema de ira de Nanoknife: $ 63.4 millones en ventas
• Dispositivos de intervención periférica: $ 102.7 millones en ingresos
• Soluciones de diagnóstico de imágenes: $ 45.6 millones en ingresos anuales

Resultados mejorados del paciente a través de dispositivos médicos de precisión

Métricas de rendimiento clínico para líneas de productos clave:

Tipo de dispositivo	Mejora del resultado del paciente	Eficiencia del procedimiento
Tecnologías de ablación	37% Tasas de complicaciones reducidas	22% de tiempos de procedimiento más cortos
Dispositivos de intervención vascular	28% mejoró la recuperación del paciente	Duración del 15% de estadía en el hospital reducido

Alternativas de tratamiento rentables

Métricas de reducción de costos para intervenciones médicas:

• Reducción de costos de procedimiento promedio: 19.5%
• Ahorro del sistema de salud: $ 24.3 millones anuales
• Reducción de reclamos de seguro: 16.8%

Tecnologías de intervención vasculares y oncológicas de vanguardia

Investigación de investigación y desarrollo: $ 47.2 millones en 2023

Segmento tecnológico	Cartera de patentes	Enfoque de I + D
Tecnologías vasculares	38 patentes activas	Técnicas mínimamente invasivas
Intervenciones oncológicas	27 patentes activas	Tratamiento tumoral de precisión

Angiodynamics, Inc. (Ango) - Modelo de negocios: relaciones con los clientes

Compromiso directo de la fuerza de ventas

A partir del tercer trimestre de 2023, Angiodynamics mantiene una fuerza de ventas directa de 142 representantes de ventas de dispositivos médicos dedicados. El equipo de ventas cubre el 87% de los hospitales estadounidenses con más de 200 camas. Ingresos anuales promedio por representante de ventas: $ 1.2 millones.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	142
Cobertura hospitalaria	87%
Ingresos promedio por representante	$ 1.2 millones

Soporte técnico y capacitación para profesionales médicos

Angiodynamics proporciona programas integrales de capacitación técnica, con 324 sesiones únicas de capacitación médica realizadas en 2023. Inversión en educación médica profesional: $ 3.7 millones.

• Sesiones de entrenamiento totales: 324
• Participantes de la capacitación: 4.892 profesionales de la salud
• Inversión de capacitación: $ 3.7 millones

Servicio al cliente en curso para proveedores de atención médica

La infraestructura de atención al cliente incluye 62 especialistas en soporte dedicados. Tiempo de respuesta promedio: 37 minutos. Tasa de satisfacción del cliente: 94.3%.

Métrica de servicio al cliente	2023 rendimiento
Especialistas en apoyo	62
Tiempo de respuesta promedio	37 minutos
Tasa de satisfacción del cliente	94.3%

Plataformas digitales para información y soporte de productos

Métricas de plataforma en línea para 2023: 287,000 usuarios únicos, 1.2 millones de visitas a las páginas, 94% de diseño de respuesta móvil.

• Usuarios únicos de la plataforma digital: 287,000
• Vistas totales de la página: 1.2 millones
• Compatibilidad de la plataforma móvil: 94%

Monitoreo continuo del rendimiento del producto

El programa de monitoreo de calidad rastrea 18 indicadores de rendimiento clave en las líneas de productos. Inversión anual de garantía de calidad: $ 2.9 millones. Tasa de retiro del producto: 0.03%.

Métrica de rendimiento del producto	2023 datos
Indicadores de rendimiento rastreados	18
Inversión de garantía de calidad	$ 2.9 millones
Tasa de retiro de productos	0.03%

Angiodynamics, Inc. (Ango) - Modelo de negocios: canales

Equipo de ventas directas

A partir de 2024, Angiodynamics mantiene una fuerza de ventas directa de aproximadamente 85-90 representantes de ventas especializados en dispositivos médicos y líneas de productos intervencionistas. El equipo de ventas cubre múltiples segmentos de atención médica, incluidos hospitales, centros quirúrgicos ambulatorios y departamentos de radiología intervencionistas.

Métrico de canal de ventas	2024 datos
Representantes de ventas directas totales	87
Cobertura promedio de territorio de ventas	3-4 estados por representante
Generación de ingresos del equipo de ventas anual	$ 124.6 millones

Distribuidores de dispositivos médicos

Angiodynamics aprovecha una red de 42 distribuidores de dispositivos médicos en los mercados internacionales e internacionales de los Estados Unidos.

• Cobertura de distribución internacional en 12 países
• Tasa de expansión de la red de distribuidores de 7.2% en 2024
• Ingresos impulsados ​​por el distribuidor: $ 43.2 millones

Plataformas de productos médicos en línea

La compañía utiliza múltiples canales de ventas digitales, con Ingresos de la plataforma de comercio electrónico que alcanzan $ 18.7 millones en 2024.

Plataforma en línea	2024 Ingresos
Sitio web de la empresa	$ 8.3 millones
Mercados médicos de terceros	$ 10.4 millones

Conferencias médicas y ferias comerciales

Angiodynamics participa en 27 conferencias médicas anualmente, con un valor estimado de generación de leads y conversión de ventas de $ 6.5 millones.

Eventos de redes profesionales de atención médica

La compañía organiza y patrocina 18 eventos especializados de redes en 2024, dirigidos a radiólogos intervencionistas y cirujanos vasculares.

Tipo de evento	Número de eventos	Alcance estimado
Simposios de redes regionales	12	1.450 profesionales de la salud
Conferencias especiales nacionales	6	875 profesionales de la salud

Angiodynamics, Inc. (Ango) - Modelo de negocio: segmentos de clientes

Radiólogos intervencionistas

Tamaño del mercado: 10,342 practicando radiólogos intervencionistas en los Estados Unidos a partir de 2023

Característica de segmento	Información detallada
Procedimientos anuales realizados	Aproximadamente 68,500 procedimientos de radiología de intervención mínimamente invasivos
Gasto promedio de equipos	$ 425,000 por práctica anualmente

Cirujanos vasculares

Tamaño del mercado: 3,786 cirujanos vasculares que practican en los Estados Unidos a partir de 2024

Característica de segmento	Información detallada
Procedimientos vasculares anuales	52,300 intervenciones quirúrgicas vasculares complejas
Inversión de dispositivos médicos	$ 375,000 por práctica quirúrgica anualmente

Centros de tratamiento oncológico

Número total de centros de tratamiento del cáncer: 1.753 en los Estados Unidos

• Centros de cáncer comunitario: 1.084
• Centros médicos académicos: 369
• Centros de cáncer integrales: 300

Característica de segmento	Información detallada
Procedimientos anuales de tratamiento del cáncer	Aproximadamente 245,600 procedimientos de oncología intervencionista
Presupuesto de tecnología médica	$ 620,000 promedio por centro de tratamiento

Hospitales e instalaciones médicas

Instalaciones de atención médica total: 6.093 hospitales en los Estados Unidos a partir de 2024

Tipo de instalación	Número de instalaciones
Hospitales comunitarios	4,582
Hospitales docentes	1,045
Hospitales especializados	466

Centros quirúrgicos ambulatorios

Centros quirúrgicos ambulatorios totales: 5.870 en los Estados Unidos

Característica de segmento	Información detallada
Procedimientos quirúrgicos anuales	Aproximadamente 189,400 procedimientos mínimamente invasivos
Presupuesto de equipos médicos	$ 285,000 promedio por centro quirúrgico

Angiodynamics, Inc. (Ango) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Angiodynamics reportó gastos de I + D de $ 36.3 millones, lo que representa aproximadamente el 8.5% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 36.3 millones	8.5%
2022	$ 33.7 millones	7.9%

Costos de fabricación y producción

Los gastos de fabricación totales de la compañía para el año fiscal 2023 fueron de $ 142.6 millones.

• Costos de material directo: $ 68.3 millones
• Costos laborales directos: $ 42.1 millones
• Sobrecoss de fabricación: $ 32.2 millones

Inversiones de ventas y marketing

Los gastos de ventas y marketing para el año fiscal 2023 totalizaron $ 84.5 millones, lo que representa el 19.7% de los ingresos totales.

Categoría de gastos	Cantidad	Porcentaje de ingresos
Personal de ventas	$ 45.2 millones	10.6%
Programas de marketing	$ 39.3 millones	9.1%

Gastos de cumplimiento regulatorio

Los costos regulatorios y de cumplimiento para 2023 ascendieron a $ 22.7 millones.

• Cumplimiento de la FDA: $ 12.4 millones
• Garantía de calidad: $ 6.9 millones
• Documentación regulatoria: $ 3.4 millones

Gestión de propiedad intelectual

Los gastos de gestión de propiedad intelectual en 2023 fueron de $ 5.6 millones.

Actividad de IP	Gastos
Potente y mantenimiento	$ 3.2 millones
Protección legal	$ 2.4 millones

Angiodynamics, Inc. (Ango) - Modelo de negocios: flujos de ingresos

Venta de dispositivos médicos

Ingresos de ventas de dispositivos médicos totales para el año fiscal 2023: $ 388.3 millones

Categoría de productos	Ingresos ($ M)	Porcentaje de ventas totales
Dispositivos oncológicos	142.6	36.7%
Dispositivos de acceso vascular	126.4	32.5%
Dispositivos quirúrgicos	119.3	30.8%

Compras de productos recurrentes

Ingresos recurrentes de compra de productos en 2023: $ 97.2 millones

• Componentes de dispositivos médicos desechables
• Piezas de repuesto y accesorios
• Suministros médicos consumibles

Contratos de servicio y soporte

Ingresos anuales de contrato de servicio y soporte: $ 45.6 millones

Tipo de contrato	Ingresos ($ M)	Duración promedio del contrato
Mantenimiento del equipo	28.3	3 años
Apoyo técnico	17.3	2 años

Licencias de tecnologías médicas

Ingresos totales de licencia para 2023: $ 22.8 millones

• Acuerdos de licencia de patentes
• Contratos de transferencia de tecnología
• Regalías de propiedad intelectual

Ventas de expansión del mercado internacional

Ingresos de ventas internacionales para 2023: $ 112.5 millones

Región geográfica	Ingresos ($ M)	Crecimiento año tras año
Europa	52.3	8.6%
Asia-Pacífico	38.7	12.4%
América Latina	21.5	6.2%

AngioDynamics, Inc. (ANGO) - Canvas Business Model: Value Propositions

You're looking at the core offerings that AngioDynamics, Inc. is pushing to the market as of late 2025. These aren't just product names; they represent specific, quantifiable value delivered to the healthcare system.

The value proposition centers on three high-growth Med Tech platforms-NanoKnife, Mechanical Thrombectomy, and Auryon-supported by a foundation of reliable Med Device products.

Here's a look at the recent financial performance backing these propositions:

Value Proposition Component	Metric	Latest Reported Amount/Rate
NanoKnife (Disposables)	Q1 Fiscal Year 2026 Sales	$6.4 million
NanoKnife (Disposables)	Year-over-Year Growth (Q1 FY2026 vs Q1 FY2025)	26.7%
Mechanical Thrombectomy (AlphaVac/AngioVac)	Q1 Fiscal Year 2026 Sales	$11.3 million
Mechanical Thrombectomy (AlphaVac/AngioVac)	Year-over-Year Growth (Q1 FY2026 vs Q1 FY2025)	41.2%
Auryon Atherectomy	Q1 Fiscal Year 2026 Sales	$16.5 million
Auryon Atherectomy	Year-over-Year Growth (Q1 FY2026 vs Q1 FY2025)	20.1%
Med Device Net Sales	Q1 Fiscal Year 2026 Sales	$40.4 million
Overall Net Sales	Fiscal Year 2025 Total	$292.7 million

Minimally invasive, non-thermal cancer ablation (NanoKnife) that preserves function.

• NanoKnife disposable sales for the three months ended November 30, 2024: $5 million out of total NanoKnife sales of $6 million.
• NanoKnife disposable sales for the quarter ended May 31, 2025 (Q4 FY2025): $5.7 million.
• The capital cost for a NanoKnife machine is approximately $375,000.
• The per-procedure cost to the patient, before insurance, ranges from $15,000 to $25,000.
• A study showed 84% of NanoKnife patients were cancer-free 12 months post-treatment.
• The CPT Category I Code for Irreversible Electroporation (IRE), the method for NanoKnife, for pancreas treatment is effective January 1, 2027.

Comprehensive mechanical thrombectomy solutions (AlphaVac/AngioVac) for blood flow restoration.

• Mechanical Thrombectomy revenue for the quarter ended May 31, 2025 (Q4 FY2025) was $11.3 million, a 44.7% increase year-over-year.
• AlphaVac sales for the quarter ended February 28, 2025 (Q3 FY2025) were $3.0 million, representing a 161.4% increase.
• AngioVac sales for the quarter ended February 28, 2025 (Q3 FY2025) were $6.8 million, a 23.1% increase.

Auryon laser atherectomy for treating complex Peripheral Artery Disease (PAD) lesions.

• Auryon sales for the quarter ended August 31, 2025 (Q1 FY2026) were $16.5 million.
• The technology has been used to treat more than 100,000 patients in the United States and worldwide as of February 1, 2025.
• The Auryon System's 2mm and 2.35mm catheters have an expanded indication to include adjacent thrombus aspiration.

High-quality, reliable Med Device products for interventional procedures.

• Med Device net sales for the quarter ended August 31, 2025 (Q1 FY2026) were $40.4 million, up 2.3%.
• Med Device net sales for the full Fiscal Year 2025 were $166.0 million, an increase of 0.8% over the prior year.
• The gross margin for the Med Device business in Q3 FY2025 was 47.4%.

Clinical education programs to ensure safe and effective technology adoption.

• The Company hosted a Virtual NanoKnife System investor event on January 8, 2025.
• The Company planned its inaugural Cardiovascular Scientific Forum (CVSF) for February 1, 2025.

AngioDynamics, Inc. (ANGO) - Canvas Business Model: Customer Relationships

You're looking at how AngioDynamics, Inc. keeps its clinical partners engaged, which is key for a Med Tech company where adoption requires deep procedural knowledge. This relationship strategy is built on expert-level support.

High-touch, expert-driven clinical training via Master Courses and individualized programs is a core component. Master Courses feature didactic presentations and hands-on simulations developed by Key Opinion Leaders (KOLs) from top academic institutions around the world. Individualized Trainings offer a tailored learning pathway, including a Clinical Case Observation and a Virtual Peer-to-Peer Call with Physician Faculty.

• Master Courses include: Immersive Educational Experience.
• Individualized Trainings cover: Practice Building Techniques.
• Virtual Trainings are 60-90 minute global group discussions.

The dedicated sales force engagement is directly tied to capital equipment placement and driving the reorder of disposables, which builds the long-term revenue stream. The focus on the Med Tech segment, which includes platforms like Auryon, AlphaVac, AngioVac, and NanoKnife, shows where this engagement is concentrated. For the full fiscal year 2025, which ended May 31, 2025, Med Tech net sales reached $126.7 million, representing a 19.5% increase year-over-year on a pro forma basis.

This direct-to-physician and hospital sales model for Med Tech platforms is supported by the consumable sales that follow. For example, in the fourth quarter of fiscal 2025, NanoKnife disposable sales were $5.7 million, an increase of 5.5% compared to the fourth quarter of fiscal 2024. This recurring purchase element helps cement long-term relationships, as noted in the business model analysis.

Reimbursement support is critical for provider adoption, especially with new technologies. AngioDynamics, Inc. offers educational materials and guides to help providers comply with complex policies. They provide resources for the CY2025 Medicare Physician Fee Schedule (PFS) and the CY2025 Hospital Outpatient Prospective Payment System (OPPS). Furthermore, the company secured a CPT Category I Code for Irreversible Electroporation (IRE) for prostate treatment, with an additional CPT Category I Code for IRE treatment of lesions in the pancreas set to be effective January 1, 2027. For specific products like the Alatus Vaginal Balloon Packing System, the 2025 Reimbursement Guide details CPT code 77334, which had an OPPS facility payment of $366 and an ASC MPFS of $64 based on 2023 national averages.

Long-term relationships are built on the clinical data that underpins the value proposition. The training programs explicitly include Clinical Data Discussions and focus on Technology Safety & Efficacy Instruction. The company's overall fiscal year 2025 performance, with positive Pro Forma Adjusted EBITDA of $7.6 million, reflects the success of this strategic focus on high-growth platforms supported by clinical and reimbursement pathways.

Metric Category	Product/Period	Value/Rate
Full Year FY2025 Pro Forma Net Sales	Total	$292.7 million
Full Year FY2025 Med Tech Net Sales Growth	Pro Forma	19.5%
Q4 FY2025 Med Tech Net Sales	Year-over-Year Growth	22.0%
Q4 FY2025 NanoKnife Disposable Sales	Year-over-Year Growth	5.5%
Full Year FY2025 Pro Forma Adjusted EBITDA	Total	$7.6 million
Reimbursement Guide Year	Hospital Outpatient (OPPS)	CY2025
CPT Code 77334 OPPS Facility Payment	Based on 2023 Averages	$366

If onboarding for a new capital placement takes longer than expected, the reorder rate for disposables could slow down, defintely impacting the recurring revenue component of the relationship.

AngioDynamics, Inc. (ANGO) - Canvas Business Model: Channels

You're looking at how AngioDynamics, Inc. gets its products-the Med Tech and Med Device offerings-into the hands of physicians and hospitals as of late 2025. The channel strategy clearly splits between a strong domestic push and an international partner network.

The U.S. market remains the core revenue driver, but the international segment is showing faster growth momentum based on the latest figures. For instance, in the fourth quarter of fiscal year 2025, which ended May 31, 2025, U.S. net sales were $67.5 million, while international net sales reached $12.7 million. That international slice grew by 22.8% year-over-year for that quarter, outpacing the U.S. growth of 11.0%. This suggests the distributor network is gaining traction.

Here's a quick look at the geographical split for that final quarter of fiscal year 2025:

Channel Metric	Q4 Fiscal Year 2025 Amount	Year-over-Year Growth (Q4 FY2025)
U.S. Net Sales	$67.5 million	11.0%
International Net Sales	$12.7 million	22.8%
Total Net Sales	$80.2 million	12.7%

For the full fiscal year 2025, total net sales hit $292.7 million. The Med Device segment, which often relies on established distribution, accounted for $166.0 million, showing modest growth of 0.8%. Conversely, the Med Tech segment, featuring newer platforms like Auryon, grew by 19.5% to $126.7 million, indicating that the direct sales force, or specialized partners, supporting these high-growth technologies are performing well in the U.S.

Direct sales force in the U.S. for Med Tech and Med Device segments is the engine for the domestic market, especially for the higher-growth Med Tech portfolio. While the exact headcount isn't public, the performance of the U.S. segment, contributing $67.5 million in Q4 FY2025, reflects this direct engagement. The Med Device segment, with $44.4 million in Q4 FY2025 sales, likely uses a mix of direct and established channel partners within the hospital system.

International distributors and partners handle sales outside the U.S., which represented $12.7 million in Q4 FY2025. This channel is crucial for expanding reach for products like the Auryon System, which received CE Mark Approval in Europe in late 2024, suggesting partner activation in that region is a key focus.

Clinical and scientific forums are used heavily for physician education and driving adoption of key technologies like NanoKnife and Mechanical Thrombectomy systems. AngioDynamics, Inc. actively participated in several high-profile events through late 2024 and 2025 to support product awareness and clinical data dissemination:

• Virtual NanoKnife Investor Event on January 8, 2025.
• 43rd Annual J.P. Morgan Healthcare Conference on January 16, 2025.
• Oppenheimer 35th Annual Healthcare MedTech and Services Virtual Conference on March 17, 2025.
• Virtual Cardiovascular Investor Event on April 2, 2025.
• Canaccord Genuity 45th Annual Growth Conference on August 12, 2025.
• UBS Global Healthcare Conference on November 10, 2025.

Online presence and investor relations for corporate communication are managed through the company website, where materials like the Q4 FY2025 Presentation (1 MB file size) and various SEC filings, including the Form 10-K, are posted. The company also uses webcasts to deliver deep dives, such as the Virtual Cardiovascular Investor Event.

Participation in Group Purchasing Organizations (GPOs) for hospital access is implied by the focus on selling into the hospital setting, but specific financial data or the number of GPO contracts for AngioDynamics, Inc. is not explicitly detailed in the latest public reports. However, the company's strategy to address over $10 billion in annual global market opportunities suggests GPO access is a necessary component for scaling sales in the U.S. hospital channel.

Finance: draft 13-week cash view by Friday.

AngioDynamics, Inc. (ANGO) - Canvas Business Model: Customer Segments

You're looking at the specific groups AngioDynamics, Inc. (ANGO) targets with its medical technology portfolio as of late 2025. The focus is clearly on high-growth, minimally invasive procedures, which dictates where their sales and marketing efforts land.

Interventional Radiologists and Interventional Cardiologists treating vascular disease.

This group drives the Med Tech segment, which saw net sales of $126.7 million for the full Fiscal Year 2025. These professionals use the peripheral atherectomy platform, Auryon, and the thrombus management systems, AlphaVac and AngioVac. For instance, in the fourth quarter of fiscal year 2025, Mechanical Thrombectomy revenue, which includes AngioVac and AlphaVac, reached $11.3 million, showing strong adoption in clot removal procedures. Auryon sales alone for that quarter were $15.6 million.

Urologists and Oncologists utilizing focal ablation for soft tissue tumors, especially prostate.

This segment is served by the NanoKnife System for irreversible electroporation (IRE) ablation. While capital equipment sales fluctuate, disposable sales show consistent usage. In the fourth quarter of fiscal year 2025, NanoKnife disposable sales were $5.7 million. This is supported by the fact that the company received FDA 510(k) clearance for NanoKnife System for prostate tissue ablation in December 2024, and a CPT Category I Code for IRE for prostate treatment is effective January 1, 2027, which directly impacts this customer segment's reimbursement pathway.

Hospitals and Outpatient-Based Labs (OBLs) purchasing capital equipment.

These facilities are the buyers of the larger, higher-value items that drive the Med Tech segment. The Med Device segment, which includes some capital components, generated $166.0 million in net sales for the full Fiscal Year 2025. The company's strategy includes driving hospital-based sales, as noted by the higher gross margin on Auryon hospital-based sales in Q3 FY2025. The overall cash balance as of May 31, 2025, was $55.9M, providing a stable base for these institutions to invest in new technology.

International healthcare providers and distributors.

This segment is tracked via International Net Sales, which showed growth across the fiscal year 2025 reporting periods. For the fourth quarter of fiscal year 2025, International net sales were $12.7 million, representing a 22.8% increase year-over-year. This indicates a dedicated customer base outside the U.S. utilizing AngioDynamics, Inc. products.

The revenue contribution from the core product lines that serve these segments in the final reported quarter of FY2025 illustrates the current focus:

Product/Segment Driver	Q4 Fiscal Year 2025 Net Sales Amount	Year-over-Year Growth (Q4 FY2025 vs Q4 FY2024)
Med Tech Net Sales	$35.8 million	22.0%
Med Device Net Sales	$44.4 million	6.2%
Total U.S. Net Sales	$67.5 million	11.0%
International Net Sales	$12.7 million	22.8%

Healthcare professionals (HCPs) seeking advanced clinical education.

While direct revenue figures for education programs aren't itemized, the commitment to clinical evidence and product adoption implies a strong focus on HCP engagement. The company hosted a Virtual Cardiovascular Investor Event on April 2, 2025, and a Virtual NanoKnife Investor Event on January 8, 2025, showing direct engagement with the clinical and investment communities. Furthermore, the company is projecting approximately 10% of sales going forward to R&D initiatives to support long-term growth, much of which underpins the clinical data needed for education and adoption.

AngioDynamics, Inc. (ANGO) - Canvas Business Model: Cost Structure

You're looking at the cost side of AngioDynamics, Inc. (ANGO)'s business as of late 2025. It's a structure heavily influenced by product complexity, regulatory hurdles, and strategic investments in growth platforms like Auryon.

The Cost of Goods Sold (COGS) is a major driver, particularly due to the nature of their specialized medical devices and external factors like tariffs. For the full fiscal year 2025, AngioDynamics, Inc. reported a GAAP gross margin of 53.9% on pro forma net sales of $292.7 million. This margin was inclusive of tariff headwinds totaling 56 basis points for the full year. To be fair, the fourth quarter of fiscal year 2025 showed a GAAP gross margin of 52.7%, which specifically included a $1.6 million, or 204 basis point, tariff impact on COGS. Absent these tariff impacts for the full year, the gross margin would have been 54.5%. The Med Tech segment, which includes high-growth items like Auryon, saw its Q4 FY2025 gross margin at 59.0%, but this was down 510 basis points from the prior year, driven by tariffs, hardware depreciation, and product mix.

Here's a quick look at the major annual operating cost categories for the full fiscal year 2025 (pro forma basis):

Cost Category	FY 2025 Amount (Millions of US $)	Context
SG&A Expenses	$149	Covers the dedicated sales force and general overhead.
Research And Development Expenses	$26.35	Investment in pipeline development and clinical evidence generation.
Operating Expenses (Total)	$198	Sum of R&D, SG&A, and other operating costs.

The company commits significant capital to Research & Development (R&D) and clinical trials to build evidence for its premium technologies. A prime example is the AMBITION BTK Randomized Controlled Trial (RCT), sponsored by AngioDynamics, Inc., designed to evaluate the Auryon Atherectomy System. This trial, which began enrolling patients in Q1 FY2026, will enroll up to 200 subjects across up to 30 hospital-based sites, with a companion Registry adding up to 1,500 subjects. Generating this level of clinical data is a substantial, necessary cost center.

Sales, General, and Administrative (SG&A) expenses are high because AngioDynamics, Inc. maintains a specialized, dedicated sales force to drive adoption of complex technologies like Auryon and NanoKnife across different clinical specialties. The full-year FY 2025 SG&A spend was $149 million. This structure supports the Med Tech segment's growth, which saw net sales increase by 19.5% in FY 2025.

Costs related to regulatory compliance and post-market surveillance are inherent to the medical device industry. While a specific dollar amount isn't broken out, the investment is evidenced by recent milestones that require rigorous regulatory support, such as receiving CPT Category I Codes for the NanoKnife System for prostate and liver lesions, effective January 1, 2026.

You should also note the costs associated with operational shifts, such as manufacturing transition and consolidation. In the second quarter of fiscal year 2025, the gross margin for the Med Device business saw a decrease partly due to costs associated with the transition to outsourced manufacturing, alongside inflationary pressures. This kind of shift, while often intended to lower future COGS, carries upfront costs for setup, validation, and inventory management.

• Tariff impact on Q4 FY2025 COGS: $1.6 million.
• Med Tech Q4 FY2025 gross margin decline due to tariffs: 510 basis points.
• Full Year FY2025 GAAP Gross Margin: 53.9%.
• AMBITION BTK RCT enrollment target: Up to 200 subjects.

AngioDynamics, Inc. (ANGO) - Canvas Business Model: Revenue Streams

You're looking at how AngioDynamics, Inc. (ANGO) converts its value proposition into cash, and right now, the story is clearly about the shift toward its high-growth Med Tech platforms. For the full fiscal year 2025, AngioDynamics, Inc. achieved total pro forma Net Sales of $292.7 million. This represented an overall growth rate of 8.1% over the prior year, but that number hides the real engine: the Med Tech segment, which saw its net sales climb by 19.5%.

Here's a quick look at the top-line performance for the full fiscal year 2025:

Revenue Component	FY 2025 Pro Forma Net Sales	Year-over-Year Growth
Total Net Sales	$292.7 million	8.1%
Med Tech Net Sales	$126.7 million	19.5%
Med Device Net Sales	$166.0 million	0.8%

The revenue streams are fundamentally split between recurring consumables and upfront equipment purchases. The high-margin disposable probes and catheters are key to long-term value capture across the advanced platforms.

The sale of high-margin disposable probes and catheters for the NanoKnife, Auryon, and thrombectomy systems drives recurring revenue. For instance, in the fourth quarter of fiscal 2025 alone, NanoKnife disposable sales reached $5.7 million, showing a 5.5% increase year-over-year. This consumable stream is what management points to for steady, high-margin income.

Capital equipment sales provide the initial revenue for system adoption. The NanoKnife generator, for example, costs doctors approximately $375,000 per unit. Similarly, the Auryon laser system represents a significant capital outlay for a facility. These upfront sales are less predictable than the disposables, but they are necessary to unlock the recurring revenue from the procedure kits.

The business model relies on two distinct revenue bases:

• Revenue from the Med Tech segment (NanoKnife, Auryon, AlphaVac) is the primary growth driver, evidenced by its 19.5% sales increase in FY2025 to $126.7 million.
• Revenue from the Med Device segment (legacy products) provides a stable base, with sales of $166.0 million in FY2025, growing only 0.8%.

To give you a sense of the device sales within the growth engine, Q4 2025 saw Auryon sales hit $15.6 million, a 19.7% jump, and Mechanical Thrombectomy revenue (AngioVac and AlphaVac) was $11.3 million, up 44.7%. The gross margin profile also reflects this mix; the Med Tech business posted a gross margin of 59.0% in Q4 2025 (or 62.1% absent tariff impacts). The legacy Med Device segment, by contrast, had a gross margin of 47.4% in Q4 2025.