AngioDynamics at Canaccord Conference: Strategic Shift to High-Growth Areas

On Tuesday, 12 August 2025, AngioDynamics (NASDAQ:ANGO) presented at Canaccord Genuity’s 45th Annual Growth Conference. The company outlined its strategic transformation towards high-growth, high-margin sectors, focusing on cardiovascular disease and cancer treatment. While the Med Tech segment showed promising expansion, the Med Device segment faced stagnation, illustrating a mixed financial landscape.

Key Takeaways

• AngioDynamics’ Med Tech segment exhibited a 25% CAGR over the past five years.
• FY25 revenue growth was over 8%, with Med Tech growth at 20%.
• FY26 guidance projects $305 million to $310 million in revenue, with Med Tech expected to grow 12% to 15%.
• The NanoKnife system’s recent FDA approval for prostate cancer treatment is a significant growth opportunity.
• The company aims for positive cash flow and EBITDA growth in FY26.

Financial Results

• FY25 Revenue: Grew over 8% as a company.
• Med Tech Segment: Demonstrated 20% growth.
• Venous Thromboembolism (VTE) Revenue: $40 million, up from $30 million in 2024.
• FY26 Revenue Guidance: $305 million to $310 million.
• FY26 Med Tech Growth Guidance: 12% to 15% year-over-year.
• Med Device Business: Expected to remain flat.
• FY26 EBITDA: Expected to grow, with positive cash flow anticipated.

Operational Updates

• Venous Thromboembolism: AlphaVac designed for efficient clot removal, with sales force expansion in the U.S.
• Peripheral Arterial Disease (PAD): AURYON grew over 20% last year, now third in its market, with international expansion generating $1 million in Europe in Q4.
• Solid Tumor Cancer (NanoKnife): Received FDA approval for prostate cancer treatment, with a new CPT code activation expected to boost growth.

Future Outlook

• Venous Thromboembolism: AlphaVac projected as a double-digit growth driver, potentially surpassing AngioVac in size.
• Peripheral Arterial Disease: AURYON expected to grow in double digits, with exploration into DVT treatment.
• Solid Tumor Cancer: NanoKnife anticipated to see double-digit growth post-CPT code activation in January 2026, with a focus on urologist education.

Q&A Highlights

• Med Tech Growth Drivers: Mechanical thrombectomy (AngioVac/AlphaVac) poised for fast growth.
• AURYON Growth: Expected mid-teens growth, with potential upside.
• AlphaVac and AngioVac: Continued growth expected into FY26.
• NanoKnife: Anticipated acceleration in growth following CPT code activation.

For a deeper dive into AngioDynamics’ strategic initiatives and financial outlook, refer to the full conference call transcript.

Full transcript - Canaccord Genuity’s 45th Annual Growth Conference:

John Young, Med Tech Analyst, Canaccord: Good morning, everyone. Thank you so much for joining us for Canaccord’s forty fifth annual global growth conference. My name is John Young. I’m one of Canaccord’s med tech analysts here. We’re excited to host AngioDynamics, and with us today is Jim Clemmer, the company’s CEO, and Steve Trowbridge, the company’s CFO.

The format today will be a brief overview, then we’ll follow-up with a fireside chat q and a session. So with that, Jim, you wanna give the overview.

Jim Clemmer, CEO, AngioDynamics: Great. Thank you, John. Thanks Thanks to Canaccord for the invitation and hosting a great conference. So there we go. Here we go.

Did it click? There we go. So before I begin, I remind investors, please do your research. Make sure that you listen to what we say today. What we’ll give you is our best perspective of our direction, our vision of the marketplace, and how we’ll grow significant value for our shareholders.

But please do your research as we cannot guarantee anything, without your extra homework. So AngioDynamics is a company in transformation. We’re transforming this forty year old company that was founded to serve the interventional radiology community many years ago. We’ve got a great base and a lot of respect from those folks for making high quality tools and products. But we had to shift our company to become more valuable into areas of higher margin, higher growth.

We did that. So today, you’ll hear our company’s focused on the two leading causes of mortality around the world, cardiovascular disease and cancer. That’s what we’re focused on treating these two large areas. Today, company is, through this transformation, now shifted our portfolio to two reportable segments that we run our business in. Our med device segment is our more historic products, slower growth, doesn’t require a lot of investment, actually provides us with free cash and EBIT during this period to fund our investments in our fast growing med tech segment, which is really our future, a high growth segment.

And you’ll see already really great growth that we’ve posted. Over the last five years, we’ve actually got a 25% CAGR of growth in our med tech segment. Three really special properties we’ll talk to you about. Our company has a unique fiscal year. June 1 is when we start.

So about three or four weeks ago, we just gave you our q four and final year, report for our f y twenty five that ended on May 31. We also gave you guidance I’ll share in a few minutes for what you can expect in f y twenty six. So our company is run-in the two segments I mentioned. This slide will show them. On the top is med tech.

The bottom is med device. It’s a little busy slide. We have a lot going on. And on the left side is our cardiovascular products. On the right is our cancer treatment products.

Trying to make it easy to show you that we compete in really large TAMs. These TAMs are also fast growing. And they’re areas where innovation matters, and you have to back up your innovation with data to prove the science of your products work. But we’re really excited. So the med tech market you see here, The US TAMs alone are about $7,000,000,000 in the three areas that we’re in in med tech.

Global TAMs are about $10,000,000,000. That’s a far cry from 2019 when we started our transformation. The whole company’s TAM was only about a billion 5 at that point. So we’ve done a good job strategically, divesting assets that didn’t fit and investing in products that we think can expand our markets, expand the value of our company, higher growth, fast growing markets. So what are they and why do they matter?

So in a med tech segment, we do cardiovascular disease retreat. We treat the venous system, veins, and the arterial system, arteries. The venous market is really exciting right now. So many of you may be familiar with Stryker who purchased Anari earlier this year. We’ll give Anari a lot of credit.

They were really the market leader in using a mechanical way to treat venous thromboembolism, focusing really on PE. Anari did a nice job helping to establish this market. What we’re trying to do together, Us and Anari and Penumbra are the three good companies in this space today. There are a lot of small guys trying to get in. But what we’re trying to do today is give doctors an alternative treatment where lytic based therapies or blood thinners have been their historic treatment for PE for years.

Well, we think using a mechanical intervention, getting the clot out, is a better, safer way to treat these patients. So the three of us will continue to grow this market development activity for years to come. We think today less than twenty percent of PEs are being treated with a mechanical thrombectomy product like ours. Our AlphaVac product that received PE indication about a little over a year ago was launched last year. Our APEC study that supported us getting our indication showed that AlphaVac can pull more clot than an ARI, the market leader.

We do it faster than the market leader. And we lose less blood in the process. The doctor gets clot out and not a lot of blood that you want to keep in the body. Alphavac was designed purposely to do those things better. We feel we have the best product in the market.

Now we’re the smallest of the three companies in the space, but we’re investing forward in the space. We’ve got the best product. For f y twenty six, we just expanded our US sales force from 40 direct sales reps to 50. We’ll look to continue to expand as we’re getting really great feedback in this space about our products from doctors who are converting over to us from our competitors and we know how much room there is over time to grow. So venous thromboembolism I’ll say that again.

No spelling test here. Venous thromboembolism is really important for us. Treating veins is a really important growth area for our company. In 2024, AngioVac and Alfavac, our two products in this space, generated about $30,000,000 of revenue. Last year, FY ’25 was $40,000,000 of revenue.

We expect to do over $50,000,000 this year. So this will be a double digit grower for years to come for us. We’ll also invest and expand our sales force over time to continue that growth. While cardiovascular disease also affects arteries, peripheral arterial disease, or PAD, leads to over one hundred and fifty thousand amputations in The US alone if PAD is not treated. Using atherectomy, we think, is one of the most versatile forms of treatment.

Breaking up the plaque or calcium that clogs those arteries is really important. We launched our product called Aureon nearly five years ago, September 2020. We entered the market. There are five other players there. So we entered into market share slot of number six out of six.

Today, we’re number three. We’re really, really proud. This product is really safe and effective, uses laser energy that we deliver through our disposable catheters into the arterial system, breaks up plaque or calcium above or below the knee. We also treat instant restenosis in a very safe and effective manner. So we’ve passed some pretty good companies.

Beck and Dickinson, Boston Scientific, and Phillips Medical, really good companies. We’re now number three in this market. We grew over 20% last year. We expect to grow double digits for years to come and even open up new areas for treatment. We believe our product can be safely and effectively used to treat coronary atherectomy disease as well, treat CAD.

We’re looking to get on label, working with the FDA to get an outline for a study to get on label for CAD, which is a market we think double the size of the PAD market that we’re in today. We also just launched our AURYON system outside of The US, got our CE marks last year. And in our q four numbers, reported about a million dollars of revenue in Europe in q four. We expect that to contribute even more in our f y twenty six and beyond. So AngioDynamics cardiovascular business is focused on treating arteries and veins.

With these two basic products, these are really, really large potential markets. We’ve got really great products today. We have R and D pipeline at our disposal to continue to add innovation to these products. And like any company in our space, we’re investing in data collection to expand opportunities for indications of what we can treat and where we can treat it. So globally, these are really large markets and will be a large player for years to come in these spaces.

The third part of our med tech portfolio is treating solid tumor cancers using our NanoKnife system. NanoKnife is a unique ablation product. It does not use thermal energy, but it uses electrical pulses of energy. NanoKnife can treat a tumor by disrupting the cell wall, creating nano sized particles in the cell wall, letting the cells die naturally. It’s really, really effective in things like prostate treatment.

We just got on label in December with the FDA for a focal treatment prostate option. We’re getting our CPT one code kicks in this January 1, about four and a half months from now. So we’ll have the best option, we believe, to treat people with a focal treatment, which is today about forty percent of the men diagnosed annually. Three hundred thousand men are diagnosed every year in The US with prostate cancer. We believe about forty percent of those fall in the Gleason seven range and are ideal candidates in between watchful waiting where you don’t do anything or radical prostatectomy.

Has still, even with a robot, a really high rate of incontinence or impotence. The PRESERVE study that supported our indication showed that we can treat the patient safely and effectively and really reduce the risk of incontinence or impotence. It’s the only device in the market that does all three of those things. We’re really excited about the opportunity that NanoLife brings for interventional oncology. The way it works, the science about it is special.

Delivers that energy to the cell wall using electricity no heat, no thermal energy, and not disrupting the other organs in the body. So it allows us to treat that prostate, interior or posterior, any part of the prostate, disrupt the tumor that’s growing, and safely let the man have his dignity back on incontinence or impotence, not having a side effect there. So we’re really, really excited about this product. FY ’26, we’ll have our reimbursement kick in halfway through. And FY ’27 and beyond, we’ll have full reimbursement with a great clinical study for NanoLife.

So AngioDynamics now is a company with this medical tech segment that’s grown at a 25% CAGR over the last five years while we’re kind of building this plane, getting indications, getting our products launched. Here we are today as we look forward. This will be our growth driver for years to come. We think AngioDynamics will have a stable revenue base with our med device products. Lower margin, lower growth, but gives us stable business to build med tech on going forward.

We’ll be a true we’ll be a company that’s hard to define as a growth company totally. FY ’25, we grew a little over 8% as a company, 20% med tech. We’re always gonna have a balance there between our two businesses. Here’s the guidance we gave in July for FY ’26. We expect med tech again to compete and grow at double digit rates.

Our med device business will be roughly flat, which we’re fine with going forward. So here we are. We’re a company in transformation, but not in the first inning, guys. We’ve done this. We’re in we’re playing the game.

We’re delivering growth in areas of value and delivering growth in areas that are higher gross margins. So over time, a company’s gonna have a p and l with high revenue growth, increasing gross margins due to the mix of these products taking a higher percentage, and bottom line EBITDA being generated. FY ’25 was our first year we broke even, generated positive adjusted EBITDA in FY ’25. We’re still investing going forward, but in this year, FY ’26, we’ll grow our EBITDA and we’ll be breakthrough on cash. So we’ll generate positive cash flow this year as well and beyond.

That’s our company. Thank you guys for joining. I’m going to ask Steve Trowbridge, our CFO, to join me and John Young.

John Young, Med Tech Analyst, Canaccord: Thanks, Jim, for that overview. It’s really helpful. I I think we’ll probably actually start on on the guidance. I’m during the last slides that you gave, probably more for you Steve, to kick it off. You provided fiscal year twenty twenty six guidance on the recent fiscal Q4 earnings call, which was revenue in the range of $3.00 $5,000,000 to $310,000,000 The high growth med tech business, as we just talked about, was projected to be in the range of 12% to 15% year over year growth and med devices is supposed to be flat.

So, you know, can we just walk through how you’re expecting each of the three med tech franchises to contribute to that 12 to 15% year over year growth throughout 2026?

Steve Trowbridge, CFO, AngioDynamics: Yeah. So, Jim, in his presentation, he walked through the products that comprise our med tech segment. So, it’s our mechanical thrombectomy business, which is made up of AngioVacAlphaVac. It’s our peripheral arterial disease business, is the AURYON business, and then NanoKnife. So if you look at last year, we were really pleased with the growth that we saw in the med tech segment, so it was right around 20% for the full year.

We exited Q4 even a little bit ahead of that. The AURYON business, the PAD, grew a little bit north of 20% that year. We were really pleased with the performance of that business. We took that business over the last three or four years, went from zero revenue and now as Jim said to over $50,000,000 in revenue in that business. We think of that going forward as kind of a mid teens grower with some potential upside from from there.

So you should think about Ariana as being in the mid teens. It’s the mechanical thrombectomy business that we expect to continue to drive growth probably at the fastest pace in f y twenty six, and we saw that in f y twenty five too. If you look at AlphaVac, really strong growth in terms of AlphaVac, but it’s coming off of low numbers. I expect that growth into ’26 to actually exceed what we saw in ’25. And then one of the really nice stories for us for ’25 was AngioVac returning to growth.

We’re really seeing some nice synergistic selling opportunities when you put AngioVac and Alphavac together in our bag. So, we expect AngioVac to continue to be a grower as well. It grew over 20% last year. It may not grow at 20% this year, it’s a little of a larger number, a higher base. That’s gonna continue to grow, and then you’re gonna see AlphaVac really start to accelerate.

At some point, it may not be this year, but it may be relatively soon, you’re gonna see AlphaVac on an aggregate basis be a larger product line than AngioVac going forward. And then the third piece of our med tech business is is NanoKnife. And as Jim said, we’ve got the CPT code that’s kicking in in January. We expect to see double digit growth in in probes and maybe with a little bit of an acceleration towards the back half of this year after that code kicks in in January 26.

John Young, Med Tech Analyst, Canaccord: And just a follow-up on that one too. Any color on capital versus disposables for NanoKnife as you think about that code coming online and more people being attracted to the prostate opportunity?

Steve Trowbridge, CFO, AngioDynamics: Definitely more people are being attracted to the prostate opportunity. We’re really excited about the enthusiasm that we are seeing in the urology community today. People looking for an alternative treatment, particularly looking for a focal treatment, and the flexibility that NanoKnife offers really sets it apart from other focal modalities that are out there. So, there’s no doubt that the enthusiasm is increasing and we expect that

Jim Clemmer, CEO, AngioDynamics: to

Steve Trowbridge, CFO, AngioDynamics: continue throughout this year and into the future. Capital sales, we had said last year that we expected capital to be about half of what it was the year before. We had a pretty big capital year in ’24, and then ’25 capital actually outpaced our expectations. It came in at about maybe 30% decline as opposed to a 50% decline. Still don’t expect to see a huge uptick in capital this year.

There’s a little bit of a different dynamic in terms of capital sales when you’re talking about the urology community versus when we were primarily focused in pancreas and liver that was in a surgery setting in the hospital. We don’t want access to capital to be a governor on the number of urologists that are choosing NanoKnife or starting up a program. So, we’re looking at other placement models. It could be through use agreements, it could be through leases. We wanna make sure that we have capital in their hands and drive disposables.

Disposables is what’s gonna be the barometer of the health of that business going forward. So, we’ve always know, with the last three, four years, we’ve broken out capital and disposables in terms of how we’ve reported this business. I think the thing to do is to look at the disposable sales. Capital is going to be lumpy. It’s going continue to be a little bit lumpy, but that growth trajectory of disposables is what we’re looking at.

John Young, Med Tech Analyst, Canaccord: And, I think actually it might be a good segue to just think about cash flow. In fiscal year 2026, Q1 you’ve guided to burn of $20,000,000 but you’ll be cash flow generating for the rest of the year. First want to ask you, considering these alternate models capital, is that factored into the cash flow guidance today? And then also, can you think you could achieve cash flow breakeven without having to use the revolver that you have currently?

Steve Trowbridge, CFO, AngioDynamics: Yes. So we do. Our expectations today are to not use the revolver. We put the revolver in place towards the end of last year more as a sign of just good financial housekeeping. It’s always good to have a safety net.

We know that the the capital markets today are different than they were five, six years ago. Right? So it’s important for us to build that that safety net. But more importantly, we want to continue to prove that the business is going to generate positive cash going forward. So, you know, we had guided to a cash utilization of about $20,000,000 for last year, kind of came in at exactly that in ’26.

We will be cash flow positive for this full year. We’re no different than any other company. Our Q1 is going to have a lot of cash utilization, that’s when incentive compensation, sales compensation, D and O insurance, which is more expensive these days. There’s a lot of things that happen in q one that then don’t repeat as you go through the through the rest of the year. So look for us to to use cash here in in q one, but then for the balance of the year, the aggregate of q two, ’3, and four, we’re gonna get back and we’ll be positive cash flow, and that’s dealing with what you talked about in terms of the capital dynamic, that’s also dealing with what our expectations are currently in tariffs.

We’re gonna chew through

John Young, Med Tech Analyst, Canaccord: that. Perfect. And have your expectations on tariffs moved since the conference call?

Steve Trowbridge, CFO, AngioDynamics: So, it’s a great question. So, my answer is yes and no. Right? It’s yes in that your expectations on tariffs moves every day. Probably moves five times during the day as you’re reading social media or news or whatever it is at that time.

In the aggregate, the answer is no. Right? I think that what we try to do is we don’t wanna whipsaw the investor community in terms of how they wanna track this every time that, you know, it changes based upon some piece of news that comes out. So we still feel that that around a $5,000,000 number overall is is what we can do. We’re looking to mitigate that every day, but we don’t think even with some of the changes that have come out recently, it’s gonna derail our plans.

We’re gonna be cash flow positive this year. We’re gonna continue to see some some nice movement in terms of gross margin with or without tariffs.

John Young, Med Tech Analyst, Canaccord: Awesome. So Jim, I want to start on Orion. Really great performance this last fiscal year. I wanted to start just talking about how penetrated are you today in The U. S.

Opportunity in terms of the OBL but also The US hospital outpatient? And then how much do you think the mix will be in terms of OBL to hospital in fiscal year twenty six?

Jim Clemmer, CEO, AngioDynamics: Yeah, we launched this product in September 2020, six months into the pandemic. The office based lab setting was the most available to us at the time. Most hospitals said, hey. Guys, stand down. So we got a lot of initial penetration growth in OBLs couple years ago when things came more back to normal after COVID.

We’ve started penetrating the hospitals. Our team has done a terrific job, and many doctors who used us in OBLs wanted to bring us in the hospital. You know how safe and effective the product was. So today, John, we think our mix is nearly 40% hospital, 60% OBL. That’s terrific for us.

We’re gonna grow the hospital business at a faster rate. It’s higher gross margin. It’s higher ASP. It’s more stable. So going forward, John, we’ll probably get to about a fifty fifty mix over the next year or two, and that might be sustainable for years to come.

We think that’s a good mix of keeping the AURYON business there for our US business.

John Young, Med Tech Analyst, Canaccord: And can you remind us of the premium that you get in the hospital setting compared

Jim Clemmer, CEO, AngioDynamics: to OBL? Nearly double. It’s about $3,000 per catheter, whereas it’s under $1,500 for OBL. So to us, the margin hit, gross margin hit, stable business, and a lot of upside in the hospital. And we’re being well received.

So you saw our business last year grew at a really great rate.

John Young, Med Tech Analyst, Canaccord: And you recently got CE marked for the product and launched internationally. I believe you had about $1,000,000 in OUS revenue last quarter for the product. So how should we think of the OUS opportunity for this for Orion too?

Jim Clemmer, CEO, AngioDynamics: So atherectomy is not used as a PA to treatment at the ratio of OUS that it is here, so we’ll grow, we’ll have good growth OUS. I don’t think you’ll see that great ramp we did in The US over years. We’re going to expand atherectomy. We just launched a new study showing. We’re sponsoring a study as we speak today showing that patients who don’t have atherectomy as treatment today should be utilized.

So we’re in response to the randomized control trial that just started as we can expand and open up the etherectomy market, we believe, globally, which will help expand our TAM here and grow over time.

John Young, Med Tech Analyst, Canaccord: And that’s Ambition BTK, You got

it. What’s the timeline, you think, for enrollment for that study?

Jim Clemmer, CEO, AngioDynamics: So we just started enrollment. We think we’ll enroll in about two years for the full studies. A lot of enthusiasm in the space. So a lot of doctors really were excited that we had the courage to do this. Doctors had wanted our community to do it for a while, and we know how good our product is.

We weren’t afraid of the risk that you take when you do a randomized controlled trial.

John Young, Med Tech Analyst, Canaccord: And I think this last one, this one, just long term, how should we think about this technology in terms of timelines being applied to either DVTs or coronary interventions that you just talked about earlier?

Jim Clemmer, CEO, AngioDynamics: Yeah. You know, each of these three products in our tech business are platforms. These are really good platforms that have large TAMs. What’s unique about AURYON today is treating PAD. I mentioned earlier, coronary is a market we think we’re gonna be safe and effective in.

Then finally, John, you know, you and I have talked before back to VTE, venous thrombolysis venous thrombolysis for venous disease. We’re treating PE today with AlphaVac. We think AURYON could be a DVT treatment option. The way it works, a smaller catheter size, it can disrupt the clot, and we think it would give us another option to enter a larger market that we’re not in today. So AURYON has a lot of legs.

John Young, Med Tech Analyst, Canaccord: And I think we’ll move to VTE too, the time we have remaining. It’s been an interesting dynamic between AlphaVac, which is your newer DVT off circuit PE product versus AngioVac. Last quarter, AlphaVac was a bit lighter I think than investors had expected, but AngioVac had a really fantastic quarter. Can you just talk about what’s going on with AlphaVac, the cross selling, where one is being used versus the other, and this really the potential for Alpha VAC growth.

Jim Clemmer, CEO, AngioDynamics: Yeah. We again, as Steve has said earlier, we think Alpha VAC could be our largest product in three or four years. When we started this, our company was an IR focused company. So we sold mostly interventional radiologists. Two years ago when we launched AlphaVac and started expanding our sales force, we’re now calling on interventional cardiologists, who now make up the largest user for AlphaVac.

These guys didn’t know us two years ago. We didn’t know them. So we built some new relationships based on the product on AlphaVac. Well, while we’re there, they said, wait a minute. You’ve got this AngioVac product with simultaneous reinfusion.

Maybe I could try this in a patient I didn’t know I could treat. So we’re seeing really good cross selling out cross selling opportunities. But, ultimately, with the Alphavac market is much, much larger. So now we’re calling on the ICs and the cardiovascular surgeons that we think will drive Alphavac sales over time. We designed the device to be better than an Aria Penumbra.

We had to. We’re third in. They’ve got great devices. Ours is better. Pull more clot out, take less time, and less blood is lost.

So we’re the smallest company, but we’ve got the best product. We’ll invest in that going forward.

John Young, Med Tech Analyst, Canaccord: And I think you have, like, you have 50 reps now selling this product. How do you expect that to grow? And then also, how do you expect the randomized data we’ll be seeing in this space in the fall essentially to, you know, impact your sales either positively or negatively?

Jim Clemmer, CEO, AngioDynamics: Yeah. So I think the data that other folks are collecting will help expand the usage for all of us, help us capture, as I said earlier, less than twenty percent of PEs today are being treated by a device in one of our three companies. We think that can expand that market. We’ll we’ll participate in market development with the other two companies. We think that’s important, and we’ll be opportunistic here.

Go back to the AURYON thing you mentioned a few minutes ago. We went from zero revenue less than five years ago. This year, we’ll do well over 60,000,000. So we showed we can build a startup in this old operating company and grow. So we think we can do the same thing with Alphabet.

John Young, Med Tech Analyst, Canaccord: And we have one minute left, I just wanna touch quickly just on NanoKnife. There’s been a lot of enthusiasm around the preserved data, around the prostate opportunity too. Just how should we think about once this CPT level one code comes online on January 1? I know you guys are not predicting hockey stick growth.

Jim Clemmer, CEO, AngioDynamics: Yeah.

John Young, Med Tech Analyst, Canaccord: But, how should the street model prostate growth essentially, and and how are you thinking about it through the the the whole fiscal twenty twenty six?

Jim Clemmer, CEO, AngioDynamics: Yeah. So so a hundred twenty thousand men in America, five hundred men tonight will go home being told by a a a urologist they have intermediate risk prostate cancer. Five hundred men tomorrow, five hundred yesterday. And they’re not being treated, in a focal manner. They’re being either radical prostatectomy, having no side effects, or no treatment.

There’s a giant spot there for us. So we’re going to now prove the effectiveness of our device, how safe and effective it is. The PRESERVE study showed it. And we’re going to capitalize on, educating, creating awareness for patients in the urologist community to grow this product for years to come at double digits.

John Young, Med Tech Analyst, Canaccord: Okay. And it’s really a a January 1 inflection point? Yeah.

Jim Clemmer, CEO, AngioDynamics: We’re on label now. We can talk about it, educate, and create awareness, and now we’ll have reimbursement, consistent reimbursement kicking in to get the doctors paid. So we’re really excited about this

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