Performance was driven by a deliberate shift toward high-margin Med Tech markets, which now comprise 48% of total revenue compared to 44% in the prior year.

Auryon achieved its 19th consecutive quarter of double-digit growth by leveraging superior technology to capture market share and expanding successfully into the hospital setting.

The Mechanical Thrombectomy portfolio grew 18% year-over-year, supported by a 'portfolio selling' approach that allows physicians to choose between AlphaVac and AngioVac based on clinical preference.

AlphaVac saw its largest sequential revenue increase since launch, attributed to new account wins through hospital Value Analysis Committees (VAC) and increased utilization in existing accounts.

NanoKnife growth was bolstered by the new CPT Category 1 code effective January 1, which is facilitating broader market access and driving both capital sales and probe utilization.

Management attributes the sustained performance to a multi-year transformation strategy involving manufacturing transitions and the divestiture of legacy, lower-growth businesses.

Full-year net sales guidance was raised to $313.5M–$315.5M, reflecting 15% to 17% expected growth in the Med Tech segment.

Adjusted EBITDA guidance was increased to $10M–$12M, despite anticipated structural gross margin impacts and planned investments in clinical data development in the second half.

The company expects to complete the regulatory approval process for the AlphaReturn Blood Management System by the first quarter of calendar 2027.

Management anticipates generating substantial cash in the fourth fiscal quarter, maintaining a trajectory toward positive cash flow despite temporary inventory builds.

Strategic focus remains on expanding NanoKnife's international footprint following expanded European indications for multi-organ soft tissue ablation.

Gross margin decreased 110 basis points year-over-year due to the timing of tariffs, inflationary pressures, and costs associated with the ongoing manufacturing transition to Costa Rica.

The company expects to incur $4M to $6M in total tariff expenses for fiscal year 2026, a headwind that was not present in the prior year period.

A proactive $3M to $5M cash investment in inventory is planned for Q4 to mitigate potential supply disruptions caused by scheduled maintenance shutdowns at sterilization vendors.

The Board of Directors has initiated a formal search for a new CEO, with the current leadership committed to a seamless transition period.

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Growth is driven by hospital VAC approvals and physicians becoming more comfortable with the product's design, which removes more clot faster and safer than competitors.

Management expects AlphaVac to continue growing sequentially as it captures share in a large, expanding market.

Current guidance incorporates the best available estimates for dynamic factors like energy costs, inflation, and tariffs.

The company is successfully implementing price increases in both Med Tech and Med Device segments based on product superiority rather than just as a reaction to rising costs.

The strategic move into the hospital setting is improving pricing and setting the stage for future platform extensions into coronary applications.

Growth remains balanced between higher pricing in hospitals and increased procedure volumes within the Office-Based Lab (OBL) segment.

Management clarified that the company does not have significant risk related to component sourcing from China.

The sterilization shutdowns are temporary maintenance events; the decision to build inventory is a proactive measure enabled by a strong, debt-free balance sheet.

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