Welcome to our dedicated page for Apyx Medical Corporation news (Ticker: APYX), a resource for investors and traders seeking the latest updates and insights on Apyx Medical Corporation stock.
Apyx Medical Corporation (NASDAQ: APYX) is a cutting-edge energy technology company that develops, manufactures, and markets advanced medical devices for the cosmetic and surgical markets globally. The company operates through two primary segments: Advanced Energy and Original Equipment Manufacturing (OEM).
Under the Renuvion brand, Apyx Medical offers proprietary helium plasma and radiofrequency technology, which is widely used in cosmetic surgery. This innovative technology provides surgeons with the ability to apply controlled heat to tissues, optimizing results in procedures such as body contouring and liposuction. The J-Plasma system, marketed for surgical applications within hospitals, minimizes unintended tissue trauma during surgical operations.
Recent achievements underline Apyx Medical's commitment to advancing medical technology. In the third quarter of 2023, the company reported a 31% year-over-year increase in total revenue, highlighted by a 39% increase in Advanced Energy sales. Significant strides were made in developing the Apyx One Generator and associated accessories, which have seen robust global demand.
From a financial perspective, Apyx Medical continues to strengthen its position. For the year ending December 31, 2023, the company secured a new five-year credit agreement with Perceptive Advisors, providing up to $45 million in capital. This new agreement enhances the company's financial flexibility and supports its growth strategy.
The company's OEM segment collaborates with other medical device manufacturers to design, develop, and produce electrosurgical generators and related accessories. This segment saw a 14% year-over-year growth in revenue during the first three quarters of 2023.
Apyx Medical remains focused on leveraging regulatory clearances and expanding its market reach. Noteworthy is its active participation in industry conferences, such as the American Academy of Cosmetic Surgery’s Annual Meeting, where it showcases its innovative products and clinical findings. The company continues to invest in research and development to enhance its product offerings, and is committed to maintaining rigorous safety and efficacy standards, supported by an extensive portfolio of clinical evidence.
In summary, Apyx Medical Corporation is at the forefront of medical energy technology, providing innovative solutions that elevate patient care in both cosmetic and surgical markets. With a robust financial outlook, strategic industry partnerships, and a continuous drive for product excellence, Apyx Medical is poised for sustained growth and market leadership.
Apyx Medical (NASDAQ: APYX) announced that Renuvion has been named the #1 trusted body contouring technology by doctors in an independent survey. This recognition highlights Renuvion's effectiveness in targeting loose skin for body contouring procedures. Key points include:
- Renuvion is the first and only technology targeting loose skin from the inside out
- 4 out of 5 surgeons prefer Renuvion over other treatments following liposuction
- Over 350,000 patients have been treated with Renuvion
- Apyx Medical has secured four FDA 510(k) clearances in the past two years
- Renuvion is the only FDA-cleared device for contracting subcutaneous tissue and for use after liposuction
This recognition underscores Apyx Medical's commitment to providing evidence-based outcomes through advanced technology in plastic surgery.
Apyx Medical (NASDAQ:APYX) announced the publication of a peer-reviewed study in Plastic and Reconstructive Surgery—Global Open comparing their Renuvion Helium Plasma Technology to InMode's Bipolar RF System following liposuction or body contouring procedures. The study, involving over 450 patients, found that Renuvion exhibited statistically significant fewer adverse events (p-value <0.0001) compared to Bipolar RF.
Key findings include:
- 45 adverse events in 34 Renuvion patients vs. 93 in 62 Bipolar RF patients
- 28 procedure-related events with Renuvion vs. 69 with Bipolar RF
- Significantly fewer burns, hematomas, hypertrophic scars, and seromas with Renuvion
Researchers concluded that Renuvion may offer a safer alternative with shorter procedural times and higher patient satisfaction rates.
Apyx Medical (NASDAQ: APYX) reported its Q2 2024 financial results and updated its FY 2024 outlook. Total Q2 revenue was $12.1 million, down 10% year-over-year. Advanced Energy revenue decreased by 17% to $9.8 million, while OEM revenue increased by 29% to $2.4 million. Net loss attributable to stockholders rose to $6.6 million, a 560% increase year-over-year, partly due to a $2.7 million gain on a prior year's sale-leaseback. Adjusted EBITDA loss increased to $4.3 million.
The company highlighted continued challenges in the cosmetic surgery market affecting Advanced Energy sales but noted a 20% growth in handpiece sales globally. For FY 2024, Apyx revised its guidance, expecting total revenue between $50.6 million and $52.1 million, reflecting a 0-3% decrease. Net loss guidance is adjusted to $23.5-$24.5 million. The company remains focused on promoting its Renuvion technology and managing operating expenses.
Apyx Medical (NASDAQ:APYX), the manufacturer of Renuvion®, a proprietary helium plasma and radiofrequency platform technology, has announced that it will release its second quarter fiscal year 2024 financial results on August 8, 2024, after market close. The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results and conduct a Q&A session.
Interested parties can dial 888-645-4404 (or 862-298-0702 for international callers) with access code 13747529 to join the call. A live webcast will also be available via the company's Investor Relations website. A telephonic replay will be accessible for two weeks following the call.
Apyx Medical (NASDAQ: APYX) has launched the 'Renewing Lives' campaign, a nationwide initiative offering Renuvion treatments to individuals who would benefit from this advanced medical technology but may not have access to it. Renuvion is unique as the only FDA-cleared device for contracting subcutaneous tissue, targeting loose skin to improve physical appearance and potentially mental health.
Through this campaign, for every Renuvion procedure performed in the U.S., Apyx Medical will make donations to fund treatments for those in need. This program aims to enhance confidence and overall well-being. Interested individuals can submit their personal stories to potentially receive treatment and be featured in Apyx Medical's 'Real Patients. Real Results' campaign. For more information and to participate, visit www.Renuvion.com/RenewingLives.
Apyx Medical reported their first-quarter 2024 financial results with total revenue of $10.2 million, a 16% decrease year-over-year. The company reaffirmed its full-year 2024 financial outlook. The Advanced Energy segment revenue decreased by 23% while OEM segment revenue increased by 14%. Net loss attributable to stockholders increased by 118% year-over-year. The company announced various developments post quarter-end, including new data and treatment insights showcased at the Renuvion Users' Summit. Management reaffirmed the 2024 financial guidance, focusing on leveraging new clinical indications and products to drive market awareness.
Apyx Medical announced the retirement of Andrew Makrides as Chairman of the Board, who served the company since 1982, and the appointment of Stavros Vizirgianakis as the new Chairman. Makrides contributed to the company's growth over the years, while Vizirgianakis brings extensive medical device industry experience to the role.
FAQ
What is the current stock price of Apyx Medical Corporation (APYX)?
What is the market cap of Apyx Medical Corporation (APYX)?
What does Apyx Medical Corporation specialize in?
What are the key product lines of Apyx Medical?
What recent financial achievements has Apyx Medical reported?
What significant recent projects has Apyx Medical undertaken?
Who are the typical customers for Apyx Medical's Renuvion technology?
What recent strategic financial move has Apyx Medical made?
How does Apyx Medical contribute to the OEM market?
What role does research and development play at Apyx Medical?
Where can I find more information about Apyx Medical's products?
What industry events does Apyx Medical participate in?
