Quarterly Revenue Growth and Raised Full-Year Guidance
Total revenue increased 8.9% YoY to $78.4M in Q3. Management raised FY2026 net sales guidance to $313.5M-$315.5M (up from $312M-$314M), implying 7.1%–7.8% growth vs FY2025. Adjusted EBITDA guidance was raised to $10M-$12M (from $8M-$10M).
Med Tech Segment Momentum
Med Tech revenue was $37.3M, up 19.0% YoY and now represents 48% of company revenue versus 44% a year ago (YTD Med Tech +19.1%), reflecting favorable portfolio mix shift into higher-growth, higher-margin markets.
Auryon: Long-Running Durable Growth
Auryon revenue was $16.3M, up 17.9% YoY and marking the 19th consecutive quarter of double-digit YoY growth. Management attributes growth to product extensions and increased hospital adoption (higher price/volume mix).
Mechanical Thrombectomy — Rapid Adoption (AlphaVac & AngioVac)
Combined Mechanical Thrombectomy revenue was $11.5M, up 17.9% YoY. AlphaVac grew to $4.4M (+47.4% YoY and >24% sequential increase vs Q2), while AngioVac was $7.2M (+5% YoY). Company enrolled first patients in the APEX-Return pivotal trial with an expected approval process targeted in Q1 2027 — a potential adoption catalyst.
NanoKnife: Strong Disposable and Capital Growth, Reimbursement & Regulatory Progress
NanoKnife revenue totaled $7.6M, up 21% YoY; probes increased ~20% and capital sales rose 24.9%. CPT 1 Code became effective Jan 1 and company announced expanded European indications for liver, pancreas, kidney and prostate soft tissue ablation.
Profitability Improvements and Financial Position
Adjusted EBITDA improved to $1.8M in Q3 (from $1.3M prior year). Adjusted net loss narrowed slightly to $3.0M ($0.07/sh) from $3.1M ($0.08/sh). Company maintains zero debt and a strong balance sheet; expects substantial cash generation in Q4 consistent with historical seasonality.
Commercial Execution and Training Momentum
Sales momentum driven by hospital site-of-care wins and uptake of training/clinical education programs. Management highlighted new accounts, increasing utilization in existing accounts, and physician demand as drivers of sustained growth.