ANGO · CIK 0001275187
What AngioDynamics, Inc. told the SEC could break it.
AngioDynamics' disclosures cluster on manufacturing geography: 34% of its long-lived assets sit in Israel (65% in the U.S.), where it manufactures amid the Israel/Hamas war that has disrupted companies operating in the region, while a portion of its components run through China, leaving it exposed to U.S. tariffs and export restrictions that have already pressured gross margin and could force price hikes or relocation. That footprint is itself in motion — it is transferring certain production out of Queensbury, NY to third-party manufacturers across the U.S., Costa Rica, Latvia, Italy, Israel and China, ceding control over timing, quality and price. As a medical-device maker it also depends on FDA clearances and equivalent foreign approvals, often via distributors, and is subject to the U.S. Foreign Corrupt Practices Act.
4 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Regulatory & policy
- China component sourcing exposed to U.S.-China tariffs/export restrictions (would force price hikes or relocation)medium
A portion of AngioDynamics' component sourcing, supply chain and manufacturing is conducted in or sourced from China; new tariffs or export restrictions on China imports could force the company to raise customer prices or locate alternative manufacturing capacity / relocate operations out of China, and tariffs already negatively impacted gross margin.
“The imposition of tariffs or export restrictions on products imported by us from China could require us to (i) increase prices to our customers or (ii) locate suitable alternative manufacturing capacity or relocate our operations from China to other countries.”
- global medical-device regulation (FDA 510(k)/PMA, EU MDR CE Mark, Canada/Japan/China/Brazil) plus FCPA; reliance on distributors for foreign approvalsmedium
AngioDynamics' products require FDA 510(k)/PMA clearance and equivalent approvals abroad (EU MDR CE Mark, Health Canada, Japan PMDA, China, Brazil ANVISA), and it relies on international distributors to obtain many foreign clearances; its international business practices are also subject to the U.S. Foreign Corrupt Practices Act, violations of which could bring significant fines and criminal sanctions.
“our business practices in international markets are subject to the requirements of the U.S. Foreign Corrupt Practices Act of 1977, as amended, any violation of which could subject us to significant fines, criminal sanctions and other penalties.”
Geographic concentration
- 34% of long-lived assets in Israel; manufacturing footprint exposed to Israel/Hamas war and regional conflicthigh
AngioDynamics has 34% of its long-lived assets located in Israel (65% in the U.S.) and conducts manufacturing/assembly in Israel among other sites; the Israel/Hamas war and broader Middle East conflict have disrupted operations of companies doing business in the region, concentrating geopolitical and supply-continuity risk in Israel.
“65 % of long-lived assets are located within the United States and 34 % are located within Israel.”
Supplier concentration
- reliance on third-party manufacturers; mid-transfer of production from Queensbury, NY to outsourced sites (US, Costa Rica, Latvia, Italy, Israel, China)medium
AngioDynamics relies on third-party manufacturers for a portion of its products and is executing a plan (targeted for completion Q3 FY2026) to transfer certain manufacturing from Queensbury, NY to third-party manufacturers in the US, Costa Rica, Latvia, Italy, Israel and China; loss of control over manufacturing, delivery timing, quality and price at these outsourced facilities could cause lost revenue or reduced profitability.
“We currently rely on third-party manufacturers for a portion of our products. We also announced a plan to transfer certain product manufacturing processes from Queensbury, NY to third-party manufacturers located in various parts of the world, including, but not limited to the United States, Costa Rica, Latvia, I”
SEC filing →As of 2025
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