Apyx Medical (APYX) AI Stock Analysis

• Market Cap: $147.71M
• Dividend Yield: N/A
• Average Volume (3M): 120.72K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.02
• Revenue Growth: -1.32%
• EPS Growth: 55.62%
• Country: US
• Employees: 220
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.05
• Shares Outstanding: 41,029,620
• 10 Day Avg. Volume: 65,017
• 30 Day Avg. Volume: 120,723
• PEG Ratio: -0.11
• Price to Book (P/B): 3.95
• Price to Sales (P/S): 1.17
• P/FCF Ratio: -2.99
• Enterprise Value/Market Cap: 0.69
• Enterprise Value/Revenue: 2.12
• Enterprise Value/Gross Profit: 3.38
• Enterprise Value/Ebitda: -12.88
• 1Y Price Target: $6.00
• Price Target Upside: 91.69% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): -0.31
• Revenue Forecast (FY): $51.19M

• Rating: 60 Neutral
• Price Target: $4.50 ▲(43.77% Upside)

Apyx Medical's overall stock score reflects a mix of financial challenges and positive market momentum. The company's strong technical indicators and successful product launch are significant strengths, while ongoing financial losses and valuation concerns weigh on the score. The recent capital raise is a positive development, potentially improving financial stability.

Positive Factors

Product Launch Success

The successful launch of the AYON Body Contouring System indicates strong product innovation and market acceptance, which can drive long-term revenue growth and strengthen Apyx Medical's competitive position in the surgical aesthetics market.

Improved Gross Margins

Improved gross margins demonstrate effective cost management and pricing power, enhancing profitability potential and providing a buffer against future cost pressures, contributing to long-term financial health.

Capital Raise

The recent capital raise provides additional financial resources for working capital and potential acquisitions, strengthening Apyx Medical's market position and operational capabilities, which supports long-term growth strategies.

Negative Factors

Negative Cash Flow

Negative cash flow indicates challenges in generating sufficient cash from operations, which can constrain the company's ability to invest in growth opportunities and meet financial obligations, impacting long-term sustainability.

High Debt Levels

High debt levels can limit financial flexibility and increase vulnerability to economic downturns, potentially impacting Apyx Medical's ability to invest in strategic initiatives and maintain competitive advantage.

International Revenue Decline

Declining international revenue suggests challenges in expanding or maintaining market share abroad, which could limit growth potential and diversification benefits, impacting Apyx Medical's long-term global strategy.

Apyx Medical Business Overview & Revenue Model

Company Description

Apyx Medical Corporation (NASDAQ: APYX) is a medical technology company specializing in the development and commercialization of innovative surgical products. The company focuses on two main sectors: surgical energy and cosmetic dermatology. Apyx Medical's core product offerings include the Renuvion® technology, which utilizes helium plasma for skin rejuvenation and various surgical applications, as well as a range of devices designed for energy-based surgical procedures aimed at improving patient outcomes.

How the Company Makes Money

Apyx Medical generates revenue primarily through the sale of its surgical devices, particularly the Renuvion platform, which is used in both surgical and cosmetic procedures. The company has established key partnerships with healthcare providers and distributors to enhance its market reach. Revenue is derived from direct sales to hospitals, outpatient surgical centers, and aesthetic practices, as well as from training and support services provided to healthcare professionals. Additionally, the company may benefit from recurring revenue streams associated with consumable products related to its surgical technologies.

Apyx Medical Financial Statement Overview

Summary

Apyx Medical faces significant financial challenges, with consistent losses impacting profitability and cash flow. While there are improvements in gross profit margin and debt management, the company struggles with operational efficiency and cash flow generation. The financial position reflects a need for strategic adjustments to enhance stability and growth.

Income Statement

Apyx Medical's income statement shows a mixed performance. The company has a gross profit margin of 62.65% TTM, indicating strong cost management. However, the net profit margin is negative at -30.35% TTM, reflecting ongoing losses. Revenue growth is modest at 2.99% TTM, but the EBIT and EBITDA margins are negative, indicating operational challenges.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 0.79 TTM, which is an improvement from previous years but still indicates leverage concerns. The return on equity is negative, reflecting profitability issues. The equity ratio is not calculated due to missing data, but the overall leverage and equity position suggest financial instability.

Cash Flow

Cash flow analysis shows negative operating cash flow and free cash flow, with a slight improvement in free cash flow growth at -5.36% TTM. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is positive at 1.13, suggesting some efficiency in converting net income to free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	47.90M	48.10M	52.35M	44.51M	48.52M	27.71M
Gross Profit	30.01M	29.36M	33.76M	29.13M	33.60M	17.50M
EBITDA	-7.88M	-16.80M	-18.11M	-22.01M	-13.91M	-18.48M
Net Income	-14.54M	-23.46M	-18.71M	-23.18M	-15.17M	-11.90M
Balance Sheet
Total Assets	57.37M	64.84M	79.24M	51.77M	68.72M	74.11M
Cash, Cash Equivalents and Short-Term Investments	25.14M	31.74M	43.65M	10.19M	30.87M	41.91M
Total Debt	39.21M	38.76M	38.50M	796.00K	305.00K	676.00K
Total Liabilities	51.28M	50.51M	52.32M	13.98M	14.71M	10.25M
Stockholders Equity	5.85M	14.21M	26.70M	37.58M	53.70M	63.72M
Cash Flow
Free Cash Flow	-9.49M	-18.77M	-5.78M	-21.29M	-11.17M	-16.65M
Operating Cash Flow	-8.41M	-18.05M	-5.25M	-20.28M	-10.45M	-16.07M
Investing Cash Flow	-1.08M	-722.00K	6.73M	-1.01M	-723.00K	-581.00K
Financing Cash Flow	6.86M	6.75M	32.17M	217.00K	24.00K	-73.00K

Apyx Medical Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 3.13
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APYX, the sentiment is Neutral. The current price of 3.13 is below the 20-day moving average (MA) of 3.86, below the 50-day MA of 3.63, and above the 200-day MA of 2.24, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 43.70 is Neutral, neither overbought nor oversold. The STOCH value of 24.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for APYX.

Apyx Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XTNT	66 Neutral	$108.92M	76.27	3.64%	―	16.88%	―
APYX	60 Neutral	$147.71M	-9.88	-172.18%	―	-1.32%	55.62%
FONR	59 Neutral	$91.68M	13.14	4.34%	―	3.36%	-21.15%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ANIK	49 Neutral	$136.71M	-4.16	-8.73%	―	-31.29%	65.68%
NSPR	46 Neutral	$86.86M	-2.44	-87.61%	―	14.04%	-0.65%
RCEL	39 Underperform	$107.34M	―	-1746.27%	―	20.59%	18.61%

Apyx Medical Corporate Events

Apyx Medical Files Amendment with Delaware

On August 7, 2025, Apyx Medical Corporation held its Annual Meeting of Stockholders, where stockholders approved an amendment to the company’s Certificate of Incorporation. This amendment involved the removal of Article EIGHTH, which was replaced with ‘intentionally omitted.’ Subsequently, on December 8, 2025, the company filed a Certificate of Amendment with the Secretary of State of Delaware to implement this change.

Apyx Medical Raises $9.4M Through Stock Offering

On November 18, 2025, Apyx Medical Corporation entered into an underwriting agreement with Lucid Capital Markets to issue and sell 2,762,431 shares of common stock, with an option for an additional 414,365 shares, at an offering price of $3.62 per share. The offering, which closed on November 19, 2025, is expected to generate approximately $9.4 million in gross proceeds, which the company plans to use for working capital, corporate purposes, and potential acquisitions, thereby potentially enhancing its market position and operational capabilities.