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Apyx Medical
(NASDAQ:APYX)
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Rating:46Neutral
Price Target:
$3.00
▼(-23.47% Downside)
Action:Reiterated
Date:08/09/26
APYX scores in the mid-range primarily because financial performance remains pressured (ongoing losses, negative operating and free cash flow, and leverage risk), which outweighs improving trends. The earnings call meaningfully lifts the outlook due to reaffirmed 2026 guidance, strong Surgical Aesthetics momentum, and regulatory/product progress, but technical signals are only neutral and valuation lacks support given the negative P/E and no dividend.
Positive Factors
Surgical Aesthetics Growth
Strong growth in the core Surgical Aesthetics segment indicates improving adoption of Apyx’s platform across procedures and geographies. Higher generator placements and handpiece usage can expand the installed base and support recurring consumable revenue over time.
Negative Factors
Persistent Cash Burn
Apyx is not yet funding operations internally, leaving growth dependent on cash reserves, working-capital improvement or external financing. Continued burn could constrain investment in commercialization and reduce flexibility if the product ramp takes longer than expected.
Read all positive and negative factors
Positive Factors
Negative Factors
Surgical Aesthetics Growth
Strong growth in the core Surgical Aesthetics segment indicates improving adoption of Apyx’s platform across procedures and geographies. Higher generator placements and handpiece usage can expand the installed base and support recurring consumable revenue over time.
Read all positive factors
Apyx Medical (APYX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$132.69M
Dividend YieldN/A
Average Volume (3M)120.72K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth25.59%
EPS Growth55.35%
CountryUS
Employees205
SectorHealthcare
Sector Strength45
IndustryMedical - Specialties
Share Statistics
EPS (TTM)-0.21
Shares Outstanding42,124,023
10 Day Avg. Volume65,017
30 Day Avg. Volume120,723
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)10.15
Price to Sales (P/S)2.79
P/FCF Ratio-16.19
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$6.50Price Target Upside65.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.27
Revenue Forecast (FY)$59.55M
Apyx Medical Business Overview & Revenue Model
Company Description
Apyx Medical Corporation, an energy technology company, designs, develops, manufactures, and sells electrosurgical equipment and medical devices in the United States and internationally. The company operates through two segments: Surgical Aestheti...
How the Company Makes Money
Apyx Medical makes money primarily by selling (1) capital equipment (its RF/helium plasma surgical generator/system) and (2) recurring disposable/consumable products used with the system (e.g., single-use handpieces and related procedure consumabl...
Apyx Medical Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presented solid commercial and clinical momentum: double-digit top-line growth (22% total, 28% surgical aesthetics), improved gross profit/margin and narrower operating and adjusted EBITDA losses, supported by FDA clearance for power liposuction and favorable clinical data. Offsetting risks include continued OEM decline, increased operating cash use and near-term manufacturing/cost pressures for new Power Lipo units, plus tariff-related cost uncertainty. On balance, the positive revenue and margin trends, clinical validation, product approvals and reaffirmed guidance outweigh the challenges.Positive Updates
Quarterly Revenue Growth
Total revenue of $13.9M in Q2 2026, up 22% year-over-year from $11.4M, driven primarily by Surgical Aesthetics growth.
Negative Updates
OEM Segment Decline
OEM revenue decreased 12% to $1.5M (from $1.7M) and company expects OEM revenue to continue declining for the year and over time (2026 guidance ~ $5.0M vs $7.5M in 2025).
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Total revenue of $13.9M in Q2 2026, up 22% year-over-year from $11.4M, driven primarily by Surgical Aesthetics growth.
Read all positive updates
Company Guidance
Management reaffirmed full‑year 2026 guidance of total revenue of $59.0–$60.0 million (vs. $52.8M in 2025), with Surgical Aesthetics revenue of $54.0–$55.0 million (vs. ≈$45.3M) and OEM revenue of ≈$5.0 million (vs. ≈$7.5M), gross margins of 62–63%, and total operating expenses not to exceed $45.0 million; the outlook assumes AYON uptake (Power Lipo is embedded in the guidance), working‑capital management and strict cost controls, does not include potential tariff refunds, and management noted cash and cash equivalents of $27.6 million at June 30, 2026 with expected sufficient liquidity into 2028.Apyx Medical Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
42
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.41M | 52.84M | 48.10M | 52.35M | 44.51M | 48.52M |
| Gross Profit | 19.83M | 19.03M | 29.36M | 33.76M | 29.13M | 33.60M |
| EBITDA | -1.64M | -4.59M | -16.80M | -18.11M | -22.01M | -13.91M |
| Net Income | -8.63M | -11.21M | -23.46M | -18.71M | -23.18M | -15.17M |
Balance Sheet | ||||||
| Total Assets | 61.07M | 66.84M | 64.84M | 79.24M | 51.77M | 68.72M |
| Cash, Cash Equivalents and Short-Term Investments | 27.62M | 31.74M | 31.74M | 43.65M | 10.19M | 30.87M |
| Total Debt | 39.63M | 39.34M | 38.76M | 38.50M | 796.00K | 305.00K |
| Total Liabilities | 49.98M | 52.01M | 50.51M | 52.32M | 13.98M | 14.71M |
| Stockholders Equity | 10.66M | 14.54M | 14.21M | 26.70M | 37.58M | 53.70M |
Cash Flow | ||||||
| Free Cash Flow | -11.05M | -9.12M | -18.77M | -5.78M | -21.29M | -11.17M |
| Operating Cash Flow | -10.13M | -8.00M | -18.05M | -5.25M | -20.28M | -10.45M |
| Investing Cash Flow | -920.00K | -1.11M | -722.00K | 6.73M | -1.01M | -723.00K |
| Financing Cash Flow | 9.61M | 9.58M | 6.75M | 32.17M | 217.00K | 24.00K |
Apyx Medical Technical Analysis
Negative
3.92
Price Trends
4.03
Negative
3.94
Negative
3.85
Negative
Market Momentum
-0.30
Positive
30.85
Neutral
16.06
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APYX, the sentiment is Negative. The current price of 3.92 is above the 20-day moving average (MA) of 3.62, below the 50-day MA of 4.03, and above the 200-day MA of 3.85, indicating a bearish trend. The MACD of -0.30 indicates Positive momentum. The RSI at 30.85 is Neutral, neither overbought nor oversold. The STOCH value of 16.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $284.52M | -79.18 | -2.70% | ― | -2.50% | 93.57% | |
57 Neutral | $319.78M | -6.96 | 231.87% | ― | 1.00% | 26.76% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $42.30M | -1.81 | -79.21% | ― | 53.42% | 22.08% | |
46 Neutral | $132.69M | -14.66 | -78.70% | ― | 25.59% | 55.35% | |
44 Neutral | $46.31M | -4.05 | -23.45% | ― | -14.27% | -132.84% |
* Healthcare Sector Average
APYX
Apyx Medical
3.03
0.97
47.09%
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NSPR
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XTNT
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0.33
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Apyx Medical Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Apyx Medical Shareholders Back Board and Incentive Plan
Positive
Aug 7, 2026
On August 6, 2026, Apyx Medical stockholders elected five directors to serve on the board until the 2027 annual meeting, reaffirming the company’s existing leadership structure. Shareholders also ratified RSM US LLP as the independent audito...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Apyx Medical Revamps Board Committees, Enhances Governance Oversight
Positive
Jul 24, 2026
On July 24, 2026, Apyx Medical’s Board of Directors restructured the membership and leadership of its Audit, Governance and Nominating, Regulatory Compliance, and Compensation committees, appointing Lawrence J. Waldman, Minnie Baylor-Henry, ...
Executive/Board Changes
Apyx Medical Names Vizirgianakis Executive Chairman, Grants RSUs
Positive
Jun 17, 2026
On June 11, 2026, Apyx Medical Corporation entered into a letter agreement with Board Chairman Stavros Vizirgianakis to formalize his new role as Executive Chairman, under which he will provide strategic leadership, governance oversight, and suppo...
Business Operations and StrategyProduct-Related Announcements
Apyx Medical Highlights New Data on Renuvion Cellulite Treatment
Positive
May 21, 2026
On May 21, 2026, Apyx Medical announced new clinical data in Aesthetic Surgery Journal Open Forum showing that a combination of Avéli and its Renuvion technology can significantly improve cellulite and skin laxity in women. The prospective in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.