Apyx Medical (APYX) AI Stock Analysis

• Market Cap: $90.39M
• Dividend Yield: N/A
• Average Volume (3M): 63.03K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.42
• Revenue Growth: -5.14%
• EPS Growth: 44.86%
• Country: US
• Employees: 220
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.09
• Shares Outstanding: 37,819,477
• 10 Day Avg. Volume: 92,556
• 30 Day Avg. Volume: 63,028
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.12
• Enterprise Value/Revenue: 2.18
• Enterprise Value/Gross Profit: 3.54
• Enterprise Value/Ebitda: -8.85
• 1Y Price Target: $4.00
• Price Target Upside: 67.36% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 47 Neutral
• Price Target: $2.00 ▼(-16.32% Downside)

Apyx Medical's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenue and persistent losses. While technical analysis shows some positive trends, the valuation remains unattractive due to a negative P/E ratio and lack of dividend yield. The earnings call provided some optimism with strategic shifts and improved guidance, but financial challenges remain the most significant factor.

Positive Factors

Strategic Leadership Appointments

The appointment of experienced sales leaders is expected to drive growth in domestic and international markets, enhancing the company's market position and sales execution over the long term.

Expansion into China

The launch of Renuvion in China opens access to a large and growing aesthetic market, potentially increasing revenue and market share in a key international region.

AYON System Launch

The successful launch and strong presales of the AYON system indicate robust demand and could drive future revenue growth, reinforcing the company's innovation-driven business model.

Negative Factors

Declining Revenue

The decline in revenue reflects challenges in maintaining sales momentum, which could impact long-term financial stability and necessitate strategic adjustments.

OEM Segment Sales Decline

A significant drop in OEM sales suggests potential issues in product demand or competitive pressures, which could affect future revenue streams and market competitiveness.

Cash Flow Challenges

Persistent negative cash flows indicate liquidity issues, limiting the company's ability to invest in growth opportunities and potentially affecting long-term operational sustainability.

Apyx Medical Business Overview & Revenue Model

Company Description

Apyx Medical Corporation, an energy technology company, develops, manufactures, and sells medical devices in the cosmetic and surgical markets worldwide. The company operates in two segments, Advanced Energy and Original Equipment Manufacturing (OEM). It offers Helium Plasma Generator for delivery of RF energy and helium to cut, coagulate and ablate soft tissue during open and laparoscopic surgical procedures. The company offers Renuvion branded products for the cosmetic surgery market that enable plastic surgeons, fascial plastic surgeons, and cosmetic physicians to provide controlled heat to the tissue to achieve their desired results; and J-Plasma branded products for the hospital surgical market. It also develops, manufactures, and sells disposable hand pieces, and OEM generators and accessories. The company was formerly known as Bovie Medical Corporation and changed its name to Apyx Medical Corporation in January 2019. Apyx Medical Corporation was incorporated in 1982 and is based in Clearwater, Florida.

How the Company Makes Money

Apyx Medical generates revenue primarily through the sale of its Renuvion devices and consumables, which are used in various surgical and aesthetic applications. The company has established a recurring revenue model through the sale of disposable components that accompany its devices, contributing significantly to its earnings. Additionally, Apyx Medical engages in strategic partnerships with healthcare providers and distributors to expand its market reach and drive adoption of its technologies. These partnerships often include training and support services that promote the effective use of its products, further enhancing revenue opportunities. The company's focus on innovation and expanding its product portfolio also plays a critical role in attracting new customers and retaining existing ones, thereby strengthening its financial performance.

Apyx Medical Financial Statement Overview

Summary

Apyx Medical faces substantial financial challenges across all verticals. The income statement shows declining revenue and persistent losses. The balance sheet reflects improved leverage but continued negative returns. Cash flow metrics indicate liquidity issues, with negative cash flows and growth rates. Overall, the company needs to address its profitability and cash flow concerns to improve its financial health.

Income Statement

Apyx Medical's income statement reveals significant challenges. The company has experienced declining revenue growth, with a negative growth rate in the TTM period. Profitability metrics such as net profit margin and EBIT margin are negative, indicating ongoing losses. Although the gross profit margin remains relatively stable, the overall financial health is concerning due to persistent negative earnings.

Balance Sheet

The balance sheet shows a mixed picture. The debt-to-equity ratio has improved in the TTM period compared to the previous year, suggesting better leverage management. However, the return on equity remains negative, reflecting continued losses. The equity ratio indicates a moderate level of equity financing, but the company's financial stability is undermined by ongoing losses.

Cash Flow

Cash flow analysis highlights significant issues. The company has negative operating and free cash flows, with a declining free cash flow growth rate. The operating cash flow to net income ratio is negative, indicating cash flow challenges. Despite a positive free cash flow to net income ratio, the overall cash flow position is weak, raising concerns about liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	46.51M	48.10M	52.35M	44.51M	48.52M	27.71M
Gross Profit	28.67M	29.36M	33.76M	29.13M	33.60M	17.50M
EBITDA	-11.49M	-16.80M	-18.11M	-22.01M	-13.91M	-18.48M
Net Income	-17.26M	-23.46M	-18.71M	-23.28M	-15.20M	-11.91M
Balance Sheet
Total Assets	58.19M	64.84M	79.24M	51.77M	68.72M	74.11M
Cash, Cash Equivalents and Short-Term Investments	29.30M	31.74M	43.65M	10.19M	30.87M	41.91M
Total Debt	4.71M	38.76M	38.50M	796.00K	305.00K	676.00K
Total Liabilities	50.73M	50.51M	52.32M	13.98M	14.71M	10.25M
Stockholders Equity	7.25M	14.21M	26.70M	37.58M	53.70M	63.72M
Cash Flow
Free Cash Flow	-10.03M	-18.77M	-5.78M	-21.29M	-11.17M	-16.65M
Operating Cash Flow	-9.31M	-18.05M	-5.25M	-20.28M	-10.45M	-16.07M
Investing Cash Flow	-718.00K	-722.00K	6.73M	-1.01M	-723.00K	-581.00K
Financing Cash Flow	6.80M	6.75M	32.17M	217.00K	24.00K	-73.00K

Apyx Medical Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.39
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 2.39 is above the 20-day moving average (MA) of 2.12, above the 50-day MA of 2.08, and above the 200-day MA of 1.65, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 62.77 is Neutral, neither overbought nor oversold. The STOCH value of 83.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for APYX.

Apyx Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVNO	58 Neutral	$18.63M	―	-64.55%	―	―	15.60%
ECOR	58 Neutral	$37.99M	―	-210.58%	―	30.16%	22.51%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TELA	49 Neutral	$61.80M	―	-676.41%	―	16.34%	34.86%
APYX	47 Neutral	$90.39M	―	-156.90%	―	-5.14%	44.86%
RBOT	39 Underperform	$42.02M	―	-125.63%	―	―	6.48%

Apyx Medical Corporate Events

Apyx Medical Holds Annual Stockholders Meeting

On August 7, 2025, Apyx Medical Corporation held its annual stockholders meeting where several key proposals were voted on. The stockholders elected five directors, ratified RSM US LLP as the independent accounting firm for 2025, approved executive compensation resolutions, and amended the company’s Certificate of Incorporation. These decisions are expected to influence the company’s governance and operational strategies moving forward.