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Apyx Medical (APYX)
:APYX
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Apyx Medical
(NASDAQ:APYX)
Rating:54Neutral
Price Target:
$1.50
▼( -2.60% Downside)
Positive Factors
Product Development
The company announced the 510k submission of the Ayon body contouring system, which encompasses a wide range of therapeutic offerings.
Technological Advantage
Renuvion is viewed as a differentiated helium-based plasma technology that can save significant time and provide superior clinical outcomes in several large, high-growth surgery markets.
Negative Factors
Financial Performance
APYX fell short of its revenue covenants mandated by its credit agreement with Perceptive Advisors due to the previously mentioned transient macro factors.
Market Challenges
There is uncertainty surrounding the timing of the company's ability to fully reengage with global customers and the overarching cosmetic market headwinds.
Apyx Medical (APYX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$58.20M
Dividend YieldN/A
Average Volume (3M)327.79K
Price to Earnings (P/E)―
Beta (1Y)1.99
Revenue Growth-6.27%
EPS Growth16.76%
CountryUS
Employees220
SectorHealthcare
Sector Strength41
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.10
Shares Outstanding37,793,884
10 Day Avg. Volume871,993
30 Day Avg. Volume327,792
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)4.88
Price to Sales (P/S)0.00
P/FCF Ratio-4.11
Enterprise Value/Market Cap0.48
Enterprise Value/Revenue0.13
Enterprise Value/Gross Profit1.14
Enterprise Value/Ebitda-0.36
Forecast
1Y Price Target
$4.00Price Target Upside159.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Apyx Medical Business Overview & Revenue Model
Company DescriptionApyx Medical Corporation is a leading manufacturer and developer of advanced energy surgical devices. The company operates primarily in the healthcare sector, providing innovative products that are utilized in a variety of surgical procedures. Apyx Medical is best known for its Helium Plasma Technology, which powers its flagship products, the Renuvion and J-Plasma systems. These systems are designed to enhance surgical precision and efficiency, offering solutions for both cosmetic and non-cosmetic procedures.
How the Company Makes MoneyApyx Medical generates revenue primarily through the sale of its advanced energy surgical devices, including the Renuvion and J-Plasma systems. The company earns money by marketing these systems to healthcare providers, hospitals, and surgical centers, where they are used for various procedures. Additionally, Apyx may derive income from the sale of consumables and accessories related to its core products. The company's revenue model is supported by partnerships with medical distributors and direct sales efforts that expand its market presence and customer base. Significant factors contributing to its earnings include the growing demand for minimally invasive surgical procedures and the continuous advancement of its proprietary technologies.
Apyx Medical Financial Statement Overview
Summary
Apyx Medical exhibits weaknesses in profitability and cash flow generation, with consistent losses and negative cash flows. While the company has a strong cash position compared to its debt, it faces high leverage and diminishing equity, posing risks to financial health. The financial statements suggest a need for strategic changes to improve operational efficiency and achieve sustainable growth.Income Statement
Apyx Medical's income statement shows challenges in profitability with negative net income and EBIT margins over recent periods. The TTM gross profit margin is 51.6%, but net profit margin is negative at -42.4%, indicating significant losses. Revenue growth has been inconsistent, with a recent decline compared to the prior year. These factors suggest difficulties in achieving sustainable revenue growth and controlling costs.45
Neutral
Balance Sheet
The balance sheet highlights a high debt-to-equity ratio due to rising liabilities relative to equity, with a recent equity ratio of 17.5%. Although the company maintains a positive stockholders' equity, it faces potential risks due to leverage. The company's cash position is relatively strong compared to its debt, but diminishing equity poses a concern for financial stability.50
Neutral
Cash Flow
Cash flow analysis reveals negative operating and free cash flows, indicating cash consumption rather than generation. The TTM operating cash flow to net income ratio is negative, reflecting cash challenges. Despite some financing inflows, the overall cash flow situation underscores a need for improved cash management and cost control.40
Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 47.29M | 48.10M | 52.35M | 44.51M | 48.52M | 27.71M | Gross Profit |
| 24.39M | 29.36M | 33.76M | 29.13M | 33.60M | 17.50M | EBIT |
| -15.28M | -18.84M | -17.26M | -23.56M | -14.45M | -20.08M | EBITDA |
| -14.41M | -16.80M | -18.11M | -22.01M | -13.91M | -18.48M | Net Income Common Stockholders |
| -20.04M | -23.46M | -18.71M | -23.28M | -15.20M | -11.91M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 31.01M | 31.74M | 43.65M | 10.19M | 30.87M | 41.91M | Total Assets |
| 60.16M | 64.84M | 79.24M | 51.77M | 68.72M | 74.11M | Total Debt |
| 4.79M | 38.76M | 38.50M | 796.00K | 305.00K | 676.00K | Net Debt |
| -26.22M | 7.02M | -5.15M | -9.40M | -30.57M | -41.24M | Total Liabilities |
| 49.52M | 50.51M | 52.32M | 13.98M | 14.71M | 10.25M | Stockholders Equity |
| 10.51M | 14.21M | 26.70M | 37.58M | 53.70M | 63.72M |
| Cash Flow | Free Cash Flow | ||||
| -13.15M | -18.77M | -5.78M | -21.29M | -11.17M | -16.65M | Operating Cash Flow |
| -12.41M | -18.05M | -5.25M | -20.28M | -10.45M | -16.07M | Investing Cash Flow |
| -742.00K | -722.00K | 6.73M | -1.01M | -723.00K | -581.00K | Financing Cash Flow |
| 6.78M | 6.75M | 32.17M | 217.00K | 24.00K | -73.00K |
Apyx Medical Technical Analysis
Positive
1.54
Price Trends
1.16
Positive
1.29
Positive
1.31
Positive
Market Momentum
0.13
Negative
60.42
Neutral
69.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APYX, the sentiment is Positive. The current price of 1.54 is above the 20-day moving average (MA) of 1.28, above the 50-day MA of 1.16, and above the 200-day MA of 1.31, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 60.42 is Neutral, neither overbought nor oversold. The STOCH value of 69.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for APYX.
Apyx Medical Risk Analysis
Apyx Medical disclosed 28 risk factors in its most recent earnings report. Apyx Medical reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Apyx Medical Peers Comparison
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $58.75M | ― | -52.88% | ― | ― | 29.64% | |
58 Neutral | $36.88M | ― | -276.15% | ― | 41.54% | 42.59% | |
54 Neutral | $58.20M | ― | -130.26% | ― | -6.27% | 16.76% | |
53 Neutral | $5.14B | 3.03 | -44.09% | 2.83% | 16.75% | -0.06% | |
50 Neutral | $56.96M | ― | -267.29% | ― | 12.78% | 15.53% | |
39 Underperform | $39.63M | ― | -104.36% | ― | ― | -1455.58% |
* Healthcare Sector Average
Performance Comparison
APYX
Apyx Medical
1.54
-0.04
-2.53%
NVNO
enVVeno Medical
3.35
-1.61
-32.46%
ECOR
Electrocore
4.97
-1.83
-26.91%
TELA
TELA Bio
1.44
-4.30
-74.91%
RBOT
Vicarious Surgical
6.68
-3.25
-32.73%
Apyx Medical Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 23.20%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a mixed sentiment with several positive developments such as growth in advanced energy products, successful cost-cutting, and market recognition for Renuvion, alongside challenges like a significant decline in total and OEM revenues. The company is optimistic about future growth with the upcoming AYON platform launch.Q1-2025 Updates
Positive Updates
Advanced Energy Product Sales Growth
Sales of advanced energy products increased by 6% to $7.9 million in the first quarter of 2025 compared to the same period last year, indicating a positive trend in the U.S. market with stronger sales of single-use handpieces.
Cost-Cutting and Restructuring Success
Significant cost-cutting measures and a restructuring program have been implemented, resulting in reduced costs and cash burn, showcasing dedication to commercial strategy.
Renuvion's Market Recognition
Renuvion won the 2025 NewBeauty Award for best minimally invasive skin tightener, highlighting the innovation and effectiveness of the product in the aesthetic space.
AYON Platform Launch Preparedness
Plans for a soft launch of the AYON platform in the back half of 2025 are in place, indicating readiness to expand market share and address a growing aesthetic surgery market.
Improved Financial Metrics
Net loss attributable to shareholders decreased to $4.2 million from $7.6 million in the prior year. Adjusted EBITDA loss also decreased by 54% to $2.4 million.
Positive Cash Flow Management
Cash used in operating activities decreased significantly to $0.7 million from $6.3 million in the prior year, with expectations to return to normalized cash burn for the balance of 2025.
Negative Updates
Revenue Decline
Total revenue for the first quarter of 2025 decreased by 7.9% to $9.4 million compared to the prior year, primarily due to a decrease in OEM product sales.
OEM Sales Drop
OEM segment sales decreased by 44.7% due to a decrease in sales volume to existing customers, impacting the overall revenue.
International Revenue Decrease
International revenue decreased by 17.7% year-over-year to $2.7 million, contributing to the overall revenue decline.
Company Guidance
In the first quarter of 2025, Apyx Medical reported total revenue of $9.4 million, marking an 8% decrease from the $10.2 million in the same period the previous year. The company's Advanced Energy segment saw a 6% increase in sales to $7.9 million, driven by stronger sales of single-use handpieces in the U.S., despite a decline in OEM sales by 44.7%. Operating expenses decreased significantly to $8.7 million from $12.6 million, largely due to cost-cutting measures. Net loss attributable to shareholders was reduced to $4.2 million, or $0.10 per share, compared to $7.6 million, or $0.22 per share, in the prior year. The company maintained a strong cash position, with $31 million in cash and cash equivalents, and reiterated its full-year 2025 revenue guidance of $47.6 million to $49 million. Apyx is preparing for the launch of its AYON body contouring platform in late 2025, pending FDA clearance, which it expects will bolster equipment sales growth.Apyx Medical Corporate Events
Product-Related AnnouncementsBusiness Operations and Strategy
Apyx Medical Gains FDA Clearance for AYON System
Positive
May 13, 2025
On May 13, 2025, Apyx Medical Corporation announced it received FDA clearance for its AYON Body Contouring System, a pioneering all-in-one platform for aesthetic surgery. The system integrates multiple technologies to enhance surgical precision and patient outcomes, and its commercial launch is planned for the second half of 2025. This development positions Apyx Medical at the forefront of the growing body contouring market, driven by an increase in demand from patients experiencing rapid weight loss.
The most recent analyst rating on (APYX) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Apyx Medical stock, see the APYX Stock Forecast page.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.