Apyx Medical Corporation, an energy technology company, designs, develops, manufactures, and sells electrosurgical equipment and medical devices in the United States and ...
Apyx Medical Corporation, formerly Bovie Medical Corporation, is an advanced energy technology company headquartered in Clearwater, Florida. Incorporated in 1982, the company specializes in the development and commercialization of innovative electrosurgical products. It operates through two segments: Surgical Aesthetics and Original Equipment Manufacturing (OEM). The Surgical Aesthetics segment offers helium ...Apyx Medical Corporation, formerly Bovie Medical Corporation, is an advanced energy technology company headquartered in Clearwater, Florida. Incorporated in 1982, the company specializes in the development and commercialization of innovative electrosurgical products. It operates through two segments: Surgical Aesthetics and Original Equipment Manufacturing (OEM). The Surgical Aesthetics segment offers helium plasma generators and single-use handpieces for cutting, coagulating, and ablating soft tissue, marketed under the Renuvion® brand for cosmetic procedures and J-Plasma® for hospital surgeries. The company recently launched the AYON Body Contouring System™, which received FDA clearance and is being commercially launched in 2025. The OEM segment develops and manufactures electrosurgical generators and accessories for other medical device companies. Apyx Medical has a global presence, with sales in the U.S. and internationally. Financially, the company has faced challenges, with negative net income and operating cash flow in recent periods, but maintains a strong balance sheet with a current ratio of 5.68 and no dividend payments. The company is led by CEO Charles D. Goodwin, who has over 25 years of experience. Recent strategic hires support the AYON launch and global expansion. As of the latest data, the company has a market capitalization of approximately $145 million, with revenue per share of $1.385 and a negative price-to-earnings ratio. The company's commitment to innovation is evidenced by its R&D spending (5.7% of revenue) and a focus on expanding indications for its products. With a team of 205 employees, Apyx Medical aims to elevate people's lives through its energy-based solutions in the medical aesthetics and surgical fields.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$52.8M
+9.9%
+11.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-11.2M
+52.2%
-53.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+36.0%
-41.0%
+70.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-12.2%
+68.9%
-78.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-21.2%
+56.5%
-38.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-9.1M
+51.4%
-462.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-17.2%
+55.8%
-406.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
270.6%
-0.8%
+20.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
5.00x
-5.1%
-2.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good afternoon, ladies and gentlemen, and welcome to the Apyx Medical 2Q '26 Earnings Conference Call. [Operator Instructions ] This call is being recorded on Thursday, August 6, 2026. I would now like to turn the conference over to Jeremy Feffer, LifeSci Advisors. Please go ahead.
Jeremy Feffer: Thank you, and welcome, everyone, to our second quarter 2026 earnings call. Representing the company on the call are Charlie Goodwin, Chief Executive Officer; and Matt Hill, Chief Financial Officer of Apyx. Before we begin, I would like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements. That are based on the current expectations of management and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated. Including, without limitation, those identified in the Risk Factors section of our most recent annual report on Form 10-K, our most recent 10-Q filing and the company's other filings with the Securities and Exchange Commission. Such factors may be updated from time to time in our filings with the SEC, which are available on our website. We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise. This call will also include references to certain financial measures that are not calculated in accordance with generally accepted accounting principles or GAAP. We generally refer to these as non-GAAP financial measures. Reconciliations of those non-GAAP financial measures to the most comparable measures calculated and presented in accordance with GAAP are available in the earnings press release on the Investor Relations portion of our website. I would now like to turn the call over to Mr. Charlie Goodwin, Apyx Medical's President and Chief Executive Officer. Please go ahead.
Charles Goodwin: Thank you, Jeremy, and thank you all for joining us today. For our usual format on these quarterly calls, I will begin with a review of our performance over the past several months and then turn the call over to Matt for a review of our second quarter 2026 financial results, along with our guidance for full year 2026. We will then open the call for questions. Let me begin with a review of a few key highlights from our second quarter 2026 performance. We reported quarterly revenue of $13.9 million compared to $11.4 million in the same period last year, an increase of 22%. This growth was driven by a 28% increase in sales of our Surgical Aesthetics products to $12.4 million for the second quarter, primarily attributable to sales of our AYON Body Contouring System, increased Renuvion generator sales internationally and increased volume of single-use handpieces domestically. This marks our fourth consecutive quarter of AYON sales following its full commercial launch in September of 2025, and we are pleased to see increasing awareness of and demand for the platform …