Apyx Medical reduced U.S. workforce by 25% in restructuring program

Implemented a cost saving restructuring program that included an organizational reduction in force to better focus and streamline operations. Under the organizational changes, the Company reduced its U.S. workforce by nearly 25%. The annualized future cost savings from the reduction in force is estimated to be approximately $4.3 million. The Company incurred pre-tax charges of approximately $0.6 million in the fourth quarter of 2024, mostly represented as one-time severance expenditures and other employee termination benefits. The Company has identified over $4.0 million of additional cost savings and currently anticipates operating expenses to be below $40.0 million in 2025.