Financial Analysis

"COMMITMENTS AND CONTINGENCIES Other Commitments and Contingencies The following table summarizes the Company's other future commitments and contingencies as of May 31, 2026: (in thousands) 2027 2028 2029 2030 2031 and thereafter Total Royalties (1) $ 3,220 $ 3,220 $ 3,220 $ 3,220 $ 12,680 $ 25,560 $ 3,220 $ 3,220 $ 3,220 $ 3,220 $ 12,680 $ 25,560 (1) These are future minimum royalty payments. Legal Proceedings The Company is involved in various legal proceedings, including commercial, intellectual property, product liability, and regulatory matters of a nature considered normal for its business. The Company accrues for amounts related to these matters if it is probable that a liability has been incurred, and an amount can be reasonably estimated. The Company discloses such matters when there is at least a reasonable possibility that a material loss may have been incurred. However, the Company cannot predict the outcome of any litigation or the potential for future litigation. C.R. Bard, Inc. v. AngioDynamics, Inc. On January 11, 2012, C.R. Bard, Inc. (Bard) filed a suit in the United States District Court of Utah claiming certain of the Company's implantable port products infringe on three U.S. patents held by Bard (US Patent Nos. 7,785,302 (""302""), 7,959,615 (615) and 7,947,022 (""022"")). On March 10, 2015, Bard and Bard Peripheral Vascular filed suit in the District of Delaware claiming certain of the Company's implantable port products infringe on three U.S. patents he …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

The following tables summarize net sales by Med Tech, Med Device and by geography: Year ended May 31, 2026 Year ended May 31, 2025 (in thousands) United States International Total United States International Total Net sales Med Tech $ 129,830 $ 20,124 $ 149,954 $ 109,254 $ 17,399 $ 126,653 Med Device 145,093 25,127 170,220 141,729 24,116 165,845 Total $ 274,923 $ 45,251 $ 320,174 $ 250,983 $ 41,515 $ 292,498 Year ended May 31, 2024 (in thousands) United States International Total Net sales Med Tech $ 90,361 $ 16,042 $ 106,403 Med Device 161,125 36,386 197,511 Total $ 251,486 $ 52,428 $ 303,914

DisaggregationOfRevenueTableTextBlock

FAIR VALUE OF FINANCIAL INSTRUMENTS On a recurring basis, the Company measures certain financial assets and financial liabilities at fair value based upon quoted market prices, where available. Where quoted market prices or other observable inputs are not available, the Company applies valuation techniques to estimate fair value. FASB ASC Topic 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows: Level 1 - Inputs to the valuation methodology are quoted market prices for identical assets or liabilities. Level 2 - Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs. Level 3 - Inputs to the valuation methodology are unobservable inputs based on managements best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. The Company's financial instruments include cash and cash equivalents, accounts receivable and accounts payable. The carrying amount of cash and cash equivalents, accounts receivable, and accounts payable approximates fair value due to their immediate …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

INCOME TAXES The components of loss before income tax expense (benefit) are as follows: Year ended May 31, (in thousands) 2026 2025 2024 Income (loss) before tax expense: U.S. $ (37,787) $ (30,172) $ (177,314) Non U.S. 1,487 (3,860) (14,324) $ (36,300) $ (34,032) $ (191,638) Income tax expense (benefit) is comprised of the following: Year ended May 31, (in thousands) 2026 2025 2024 Current Federal $ $ 13 $ 147 State 113 608 171 Non U.S. 186 328 361 299 949 679 Deferred Federal (6,427) State (612) Non U.S. 143 (988) (929) 143 (988) (7,968) Income tax expense (benefit) $ 442 $ (39) $ (7,289) Temporary differences that give rise to deferred tax assets and liabilities are summarized as follows: (in thousands) May 31, 2026 May 31, 2025 Deferred tax assets Net operating loss carryforward $ 46,341 $ 34,388 Stock-based compensation 4,901 3,396 Federal and state R&D tax credit carryforward 7,852 8,275 Inventories 1,302 1,016 Expenses incurred not currently deductible 11,903 18,188 Accrued liabilities 36 34 Gross deferred tax asset 72,335 65,297 Deferred tax liabilities Depreciation and amortization 12,072 10,915 12,072 10,915 Valuation allowance (65,493) (58,440) Net deferred tax liability $ (5,230) $ (4,058) The net deferred tax liability of $5.2 million and $4.0 million as of May 31, 2026 and 2025, respectively, principally relates to the stock acquisition of Eximo Medical Ltd., related to book intangibles partially offset by tax net operating losses and capitalized R&D expe …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"LEASES The Company determines if an arrangement is a lease at inception of the contract. The Company has operating leases for buildings, primarily for office space, R&D and warehousing. The Company has financing arrangements for manufacturing and distribution. Financing Arrangement On December 24, 2024, the Company entered into an agreement to sell the manufacturing facilities in Queensbury, NY and Glens Falls, NY for a purchase price of $5.5 million and $1.2 million, respectively, and net proceeds of $5.2 million and $1.1 million, respectively. The Company simultaneously entered into lease agreements with future lease payments of $4.6 million over seven years for the Queensbury, NY facility and $0.4 million over three years for the Glens Falls, NY facility. Based on certain criteria, the transaction was accounted for as a financing arrangement, as it did not meet the criteria for a sale-leaseback. As a result, the assets remain in ""Property, plant and equipment, net"" on the Consolidated Balance Sheets at their historical book value and are depreciated over the term of the lease agreements. A financing arrangement was recorded in the amount of the net proceeds received. The Company will recognize monthly rent as a reduction of the finance arrangement and interest expense, using the effective interest rate method. No gain or loss was recognized related to the financing arrangement for the twelve months ended May 31, 2026. As of May 31, 2026, the carrying value of the fi …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"LONG-TERM DEBT On May 28, 2025, the Company entered into a new Credit Agreement (the Credit Agreement) with its subsidiary RITA Medical Systems, LLC (RITA and, together with the Company, the Loan Parties), the lenders party thereto and JPMorgan Chase Bank, N.A., individually and as administrative agent, issuing bank and swingline lender. The Credit Agreement provides for a $25.0 million secured revolving credit facility (the ""Revolving Facility""), which is subject to a borrowing base comprised of certain working capital assets of the Company. Additionally, until such time as the Company has demonstrated a fixed charge coverage ratio greater than 1.10 to 1.00, the Revolving Facility will be further reduced by $5,000,000 (such period, the Availability Block Period). To the extent requested by the Company, and subject to certain customary limitations, the lenders will make revolving loan advances to the Company and the issuing bank will issue letters of credit for the account of the Company, in each case in an aggregate amount not exceeding the availability under the Revolving Facility. Issuances of letters of credit under the Revolving Facility shall further be limited by an issuance cap, which as at the closing date is set at $2,000,000. The proceeds of the Revolving Facility may be used for working capital and for general corporate needs of AngioDynamics and its subsidiaries. The Credit Agreement has a two-year maturity. Interest on the Revolving Facility will be based, at …

LongTermDebtTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements - Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures This ASU improves the income tax disclosure requirements on an annual basis by (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. June 1, 2025 The Company adopted the new standard in fiscal year 2026 and the related additional disclosures are contained in Note 9 to the consolidated financial statements in this Annual Report on Form 10-K. Recently Issued Accounting Pronouncements - Not Yet Applicable or Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-04): Disaggregation of Income Statement Expenses This ASU improves the disclosures about a public business entity's costs and expenses by requiring the Company to disclose more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization and depletion) included in each relevant income statement caption. June 1, 2027 The Company plans to adopt the new standard for the fiscal year 2028 and is assessing the impact to the consolidated financial statements. …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

RETIREMENT PLANSThe Company has a 401(k) plan under which eligible employees can defer a portion of their compensation, part of which is matched by the Company. Matching contributions were $4.4 million, $4.5 million and $4.6 million in 2026, 2025 and 2024, respectively. There are also various immaterial foreign retirement plans.

PensionAndOtherPostretirementBenefitsDisclosureTextBlock

"ACQUISITION, RESTRUCTURING AND OTHER ITEMS, NET Acquisition, restructuring and other items, net consisted of: Year ended May 31, (in thousands) 2026 2025 2024 Legal (1) $ 2,012 $ 715 $ 34,942 Mergers and acquisitions (2) 737 399 Transition service agreement (3) (1,540) (1,838) (1,092) Plant Closure (4) 13,119 13,761 9,481 Manufacturing Relocation (5) 587 Intangible and other asset impairment (6) 6,260 CEO Transition (7) 1,629 Other (8) 2,378 2,245 2,605 Total $ 17,598 $ 15,620 $ 53,182 (1) Legal expenses related to litigation that is outside the normal course of business. For the year ended May 31, 2024 , a $19.3 million settlement expense was recorded as a result of the Settlement Agreement that was entered into between the Company and BD. (2) Mergers and acquisitions expenses related to investment banking, legal and due diligence. (3) Transition services agreement that were entered into with Merit and Spectrum. (4) Plant closure expense, related to the restructuring of our manufacturing footprint which was announced on January 5, 2024. (5) Expenses to relocate manufacturing lines out of Queensbury, NY. (6) An impairment of $3.4 million on intangible and fixed assets and an inventory write-off of $2.9 million was taken in the third quarter of fiscal year 2024 relating to the abandonment of the Syntrax and RF product lines. (7) CEO retirement and transition expenses related to the CEO search and retention agreements with the Company's executive leadership team. (8) Included …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

"REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue Recognition Under ASC 606, Revenue from Contracts with Customers , revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company has one primary revenue stream which is the sales of its products. Disaggregation of Revenue The following tables summarize net sales by Med Tech, Med Device and by geography: Year ended May 31, 2026 Year ended May 31, 2025 (in thousands) United States International Total United States International Total Net sales Med Tech $ 129,830 $ 20,124 $ 149,954 $ 109,254 $ 17,399 $ 126,653 Med Device 145,093 25,127 170,220 141,729 24,116 165,845 Total $ 274,923 $ 45,251 $ 320,174 $ 250,983 $ 41,515 $ 292,498 Year ended May 31, 2024 (in thousands) United States International Total Net sales Med Tech $ 90,361 $ 16,042 $ 106,403 Med Device 161,125 36,386 197,511 Total $ 251,486 $ 52,428 $ 303,914 Net Product Revenue The Company's products consist of medica …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENTS AND GEOGRAPHIC INFORMATION Segment information The Company regularly reviews its segments and the approach used by the chief operating decision maker, the President and CEO, to evaluate performance and allocate resources. The Company manages its operations through two operating segments, Med Tech and Med Device. The CEO evaluates these two operating segments based on gross margin to, among other items, allocate resources and assess performance. The CEO uses gross margin in the budgeting and forecasting process to assess profitability and enable decision making regarding strategic initiatives, investments and personnel across the two operating segments. Executives reporting to the CEO include those responsible for commercial operations, manufacturing operations, regulatory and quality and certain corporate functions. The Med Tech segment is comprised of our technology portfolio including Auryon, the thrombus management platform and NanoKnife. The Med Device segment is comprised of our Core, Venous, Ports and other Oncology products. The Company manages its assets on a total company basis, not by operating segment; therefore, the CEO does not review any asset information by operating segment and, accordingly, asset information is not reported or evaluated by operating segment. The table below summarizes net sales, cost of sales and gross margin by Med Tech and Med Device: Year ended May 31, (in thousands) 2026 2025 2024 Med Tech Net Sales $ 149,954 $ 126,653 $ 106,403 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"STOCKHOLDERS EQUITY Capitalization On October 29, 2014, the Board of Directors approved the Amended and Restated Certificate of Incorporation (the Amended Certificate). Under the Amended Certificate, the authorized capital stock is 80,000,000 shares, consisting of 75,000,000 shares of common stock, par value $.01 per share and 5,000,000 shares of preferred stock, par value $.01 per share. The holders of common stock are entitled to one vote for each share held. Subject to preferences applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to receive ratably dividends, if any, as may be declared by the Board of Directors out of funds legally available for dividend payments. If the Company liquidates, dissolves, or winds up, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities and liquidation preferences of any outstanding shares of preferred stock. Holders of common stock have no pre-emptive rights or rights to convert their common stock into any other securities. There are no redemption or sinking fund provisions applicable to the common stock. The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that the Company may designate in the future. The Board of Directors has the authority to (i) issue the undesignated preferred stock in one or more s …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

The following table summarizes net sales by Med Tech, Med Device and by geography: Three Months Ended February 28, 2026 Three Months Ended February 28, 2025 (in thousands) United States International Total United States International Total Net sales Med Tech $ 32,314 $ 4,968 $ 37,282 $ 27,000 $ 4,341 $ 31,341 Med Device 34,964 6,177 41,141 34,340 6,323 40,663 Total $ 67,278 $ 11,145 $ 78,423 $ 61,340 $ 10,664 $ 72,004 Nine Months Ended February 28, 2026 Nine Months Ended February 28, 2025 (in thousands) United States International Total United States International Total Net sales Med Tech $ 94,127 $ 14,069 $ 108,196 $ 79,023 $ 11,840 $ 90,863 Med Device 107,201 18,170 125,371 104,476 17,001 121,477 Total $ 201,328 $ 32,239 $ 233,567 $ 183,499 $ 28,841 $ 212,340

DisaggregationOfRevenueTableTextBlock

SHARE-BASED COMPENSATION On October 13, 2020, the Company's shareholders approved the 2020 Stock and Incentive Award Plan (the 2020 Plan). The 2020 Plan provides for the grant of incentive stock options, non-statutory stock options, restricted stock, restricted stock units, stock appreciation rights, performance share units, performance shares and other incentive awards to the Company's employees, directors and other service providers. On November 12, 2024 the Company's shareholders approved an amendment to the 2020 Plan to increase the reserve of shares of common stock available for future grants by 3.2 million shares. As of February 28, 2026, there was a maximum of 2.6 million shares of common stock available for future grant under the 2020 Plan. Prior to the adoption of the 2020 Plan, equity awards were issued under the 2004 Stock and Incentive Award Plan (the 2004 Plan). The adoption of the 2020 Plan did not impact the administration of equity awards issued under the 2004 Plan but following the adoption of the 2020 Plan, equity award grants are no longer made under the 2004 Plan. The Company also has an employee stock purchase plan. As of February 28, 2026, there was a maximum of 2.5 million shares of common stock available for future grant under the employee stock purchase plan. For the three months ended February 28, 2026 and 2025, share-based compensation expense was $2.7 million and $2.4 million, respectively. For the nine months ended February 28, 2026 and 2025, shar …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE On a recurring basis, the Company measures certain financial assets and financial liabilities at fair value based upon quoted market prices, where available. Where quoted market prices or other observable inputs are not available, the Company applies valuation techniques to estimate fair value. FASB ASC Topic 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows: Level 1 - Inputs to the valuation methodology are quoted market prices for identical assets or liabilities. Level 2 - Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs. Level 3 - Inputs to the valuation methodology are significant unobservable inputs based on managements best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. The Company's financial instruments include cash and cash equivalents, accounts receivable and accounts payable. The carrying amount of cash and cash equivalents, accounts receivable, and accounts payable approximates fair value due to their immediate or short-term …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"INCOME TAXES The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year adjusted for any discrete events, which are recorded in the period that they occur. The estimated annual effective tax rate prior to discrete items was (0.8)% as of the third quarter of fiscal year 2026, as compared to 1.9% for the same period in fiscal year 2025. In fiscal year 2026, the Companys effective tax rate differs from the U.S. statutory rate primarily due to the impact of the valuation allowance, foreign taxes, and other non-deductible permanent items (such as non-deductible meals and entertainment, Section 162(m) excess compensation and non-deductible share-based compensation). The Company regularly assesses its ability to realize its deferred tax assets. Assessing the realization of deferred tax assets requires significant management judgment. In determining whether its deferred tax assets are more likely than not realizable, the Company evaluated all available positive and negative evidence, and weighted the evidence based on its objectivity. Based on the review of all available evidence, the Company determined that it has not yet attained a sustained level of profitability and the objectively verifiable negative evidence outweighed the positive evidence. Therefore, the Company has provided a valuation allowance on its federal and state net operating loss carryforwards, federal and state Research and Development …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"COMMITMENTS AND CONTINGENCIES The Company is involved in various legal proceedings, including commercial, intellectual property, product liability, and regulatory matters of a nature considered normal for its business. The Company accrues for amounts related to these matters if it is probable that a liability has been incurred, and an amount can be reasonably estimated. The Company discloses such matters when there is at least a reasonable possibility that a material loss may have been incurred. However, the Company cannot predict the outcome of any litigation or the potential for future litigation. C.R. Bard, Inc. v. AngioDynamics, Inc. On January 11, 2012, C.R. Bard, Inc. (Bard) filed a suit in the United States District Court of Utah claiming certain of the Company's implantable port products infringe on three U.S. patents held by Bard (US Patent Nos. 7,785,302 (""302""), 7,959,615 (615) and 7,947,022 (""022"")). On March 10, 2015, Bard and Bard Peripheral Vascular filed suit in the District of Delaware claiming certain of the Company's implantable port products infringe on three U.S. patents held by Bard (US Patent Nos. 8,475,417, 8,545,460, 8,805,478). The Court entered Judgement on June 1, 2023 in favor of the Company. On March 8, 2021, Bard filed suit in the District of Delaware asserting certain of the Companys port products (including certain related infusion sets) infringe U.S. Patent Nos. 8,025,639, 9,603,992 and 9,603,993. The Company counterclaimed, alleging tha …

LegalMattersAndContingenciesTextBlock · excerpt; the full note is in the filing

"LEASES The Company determines if an arrangement is a lease at inception of the contract. The Company has operating leases for buildings, primarily for office space, R&D, manufacturing and warehousing. The Company has financing arrangement for manufacturing and distribution. Financing Arrangement On December 24, 2024, the Company entered into an agreement to sell the manufacturing facilities in Queensbury, NY and Glens Falls, NY for a purchase price of $5.5 million and $1.2 million, respectively, and net proceeds of $5.2 million and $1.1 million, respectively. The Company simultaneously entered into lease agreements with future lease payments of $4.6 million over seven years for the Queensbury, NY facility and $0.4 million over three years for the Glens Falls, NY facility. Based on certain criteria, the transaction was accounted for as a financing arrangement, as it did not meet the criteria for a sale-leaseback. As a result, the assets remain in ""Property, plant and equipment, net"" on the Consolidated Balance Sheets at their historical book value and are depreciated over the term of the lease agreements. A financing arrangement was recorded in the amount of the net proceeds received. The Company will recognize monthly rent as a reduction of the finance arrangement and interest expense, using the effective interest rate method. No gain or loss was recognized related to the financing arrangement for the three and nine months ended February 28, 2026. As of February 28, 20 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"LONG-TERM DEBT On May 28, 2025, the Company entered into a new Credit Agreement (the Credit Agreement) with its subsidiary RITA Medical Systems, LLC (RITA and, together with the Company, the Loan Parties), the lenders party thereto and JPMorgan Chase Bank, N.A., individually and as administrative agent, issuing bank and swingline lender. The Credit Agreement provides for a $25.0 million secured revolving credit facility (the ""Revolving Facility""), which is subject to a borrowing base comprised of certain working capital assets of the Company. Additionally, until such time as the Company has demonstrated a fixed charge coverage ratio greater than 1.10 to 1.00, the Revolving Facility will be further reduced by $5,000,000 (such period, the Availability Block Period). To the extent requested by the Company, and subject to certain customary limitations, the lenders will make revolving loan advances to the Company and the issuing bank will issue letters of credit for the account of the Company, in each case in an aggregate amount not exceeding the availability under the Revolving Facility. Issuances of letters of credit under the Revolving Facility shall further be limited by an issuance cap, which at the closing date was set at $2,000,000. The proceeds of the Revolving Facility may be used for working capital and for general corporate needs of AngioDynamics and its subsidiaries. The Credit Agreement has a two-year maturity. Interest on the Revolving Facility will be based, at t …

LongTermDebtTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Pronouncements - Adopted There are no recently issued accounting pronouncements that have been adopted. Recently Issued Accounting Pronouncements - Not Yet Applicable or Adopted Standard Description Effective Date Effect on the Consolidated Financial Statements ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures This ASU improves the income tax disclosure requirements on an annual basis by (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. June 1, 2025 The Company plans to adopt the new standard for the fiscal year 2026 Annual Report on Form 10-K and is assessing the impact to the consolidated financial statements. ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-04): Disaggregation of Income Statement Expenses This ASU improves the disclosures about a public business entity's costs and expenses by requiring the Company to disclose more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization and depletion) included in each relevant income statement caption. June 1, 2027 The Company plans to adopt the new standard for the fiscal year 2028 and is assessing the impact to the consolidated financial statements. ASU 2025-05, Financial Instruments-Credit Losses (Topic 326): Measurement of C …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"ACQUISITION, RESTRUCTURING, AND OTHER ITEMS, NET Acquisition, Restructuring and Other Items Acquisition, restructuring and other items, net, consisted of: Three Months Ended Nine Months Ended (in thousands) Feb 28, 2026 Feb 28, 2025 Feb 28, 2026 Feb 28, 2025 Legal (1) $ 146 $ $ 1,831 $ 406 Mergers and acquisitions 737 Plant closure (2) 5,195 3,130 9,911 11,820 Transition service agreement (3) (555) (463) (1,523) (1,424) CEO retirement and transition (4) 870 870 Other 866 619 1,826 1,926 Total $ 6,522 $ 3,286 $ 12,915 $ 13,465 (1) Legal expenses related to litigation that is outside the normal course of business. (2) Plant closure expense, related to the restructuring of our manufacturing footprint which was announced on January 5, 2024. (3) Transition services agreements that were entered into with Merit and Spectrum. (4) CEO retirement and transition expenses related to the CEO search and retention agreements with the Company's executive leadership team. Restructuring The Company evaluates its performance and looks for opportunities to improve the overall operations of the Company on an ongoing basis. As a result of this evaluation, certain restructuring initiatives are taken to enhance the Companys overall operations. On January 5, 2024, the Company announced a restructuring to optimize its manufacturing efficiency, capabilities and footprint (the ""Plan""). In the second quarter of fiscal year 2025, the Company announced a modification to the Plan to maintain a presence i …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

"REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue Recognition Under ASC 606, Revenue from Contracts with Customers , revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company has one primary revenue stream which is the sales of its products. Disaggregation of Revenue The following table summarizes net sales by Med Tech, Med Device and by geography: Three Months Ended February 28, 2026 Three Months Ended February 28, 2025 (in thousands) United States International Total United States International Total Net sales Med Tech $ 32,314 $ 4,968 $ 37,282 $ 27,000 $ 4,341 $ 31,341 Med Device 34,964 6,177 41,141 34,340 6,323 40,663 Total $ 67,278 $ 11,145 $ 78,423 $ 61,340 $ 10,664 $ 72,004 Nine Months Ended February 28, 2026 Nine Months Ended February 28, 2025 (in thousands) United States International Total United States International Total Net sales Med Tech $ 94,127 $ 14,069 $ 108,196 $ 79,023 $ 11,840 $ 90,863 Med Device …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"SEGMENT AND GEOGRAPHIC INFORMATION Segment information The Company regularly reviews its segments and the approach used by the chief operating decision maker, the President and Chief Executive Officer (""CEO""), to evaluate performance and allocate resources. The Company manages its operations through two operating segments, Med Tech and Med Device. The CEO evaluates these two operating segments based on gross margin to, among other items, allocate resources and assess performance. The CEO uses gross margin in the budgeting and forecasting process to assess profitability and enable decision making regarding strategic initiatives, investments and personnel across the two operating segments. Executives reporting to the CEO include those responsible for commercial operations, manufacturing operations, regulatory and quality and certain corporate functions. The Med Tech segment is comprised of our technology portfolio including Auryon, the thrombus management platform and NanoKnife. The Med Device segment is comprised of our Core, Venous, Ports and other Oncology products. The Company manages its assets on a total company basis, not by operating segment; therefore, the CEO does not review any asset information by operating segment and, accordingly, asset information is not reported or evaluated by operating segment. The table below summarizes net sales, cost of sales and gross margin by Med Tech and Med Device: Three Months Ended Nine Months Ended (in thousands) Feb 28, 2026 Feb …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"EQUITYOn July 16, 2024, the Board of Directors approved a share repurchase program (the ""Repurchase Program"") under which they authorized the Company the option to repurchase up to $15.0million of its outstanding common stock. The timing and amount of any share repurchases under the authorization will be determined by management within certain parameters and based on market conditions and other considerations. There were no shares repurchased during the nine months ended February28, 2026. During fiscal year 2025, the Company repurchased 243,847 shares of common stock in the open market at an aggregate cost of $1.7million under the Repurchase Program. As of February28, 2026, $13.3million remained available for repurchase under the Repurchase Program." …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing