Apyx Medical Corporation Reports Third Quarter 2026 Financial Results
Cash and cash equivalents fell to $25.777 million at September 30, 2026, from $31.740 million at year-end 2025.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Apyx Medical (NASDAQ: APYX) reported third-quarter 2026 revenue of $14.0 million, up from the same quarter a year earlier. Revenue rose 9.0%, with Surgical Aesthetics sales increasing 17.2% to $12.970 million and OEM sales falling 41.5% to $1.060 million. Net loss attributable to stockholders narrowed to $1.785 million, or $0.04 per share, from $1.984 million, or $0.05 per share. Adjusted EBITDA, a non-GAAP earnings measure, turned positive at $0.4 million versus a $0.1 million loss.
The company reaffirmed its 2026 revenue outlook of $59.0 million to $60.0 million and lowered expected operating expenses to $41.0 million–$42.5 million from less than $45.0 million. It began the full commercial launch of AYON’s reusable power liposuction handpiece during the quarter, following FDA clearance earlier in 2026. Quarterly operating cash use fell to $1.6 million from $3.5 million.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThird-quarter revenue rose 9.0% year over year to $14.030 million.
- Moderate pointAdjusted EBITDA reached $0.4 million in the third quarter, versus a $0.1 million loss a year earlier.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Expected 2026 operating expenses lowered to $41.0 million–$42.5 million, from previous guidance of less than $45.0 million.
- Moderate pointThird-quarter operating cash use fell to $1.6 million, from $3.5 million a year earlier.
- Minor pointSurgical Aesthetics revenue rose 17.2% year over year to $12.970 million in the third quarter.
20 minor points
- Minor pointThird-quarter stockholder loss narrowed to $1.785 million, or $0.04 per share, from $1.984 million, or $0.05.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 revenue guidance reaffirmed at $59.0 million–$60.0 million, versus $52.8 million in 2025.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 Surgical Aesthetics revenue expected at $54.0 million–$55.0 million, versus approximately $45.3 million in 2025.
- Minor pointThird-quarter gross profit increased to $9.001 million from $8.297 million a year earlier.
- Minor pointThird-quarter operating loss narrowed to $571,000 from $832,000 a year earlier.
- Minor pointDomestic third-quarter revenue rose 4.0% year over year to $9.703 million.
- Minor pointInternational third-quarter revenue rose 22.1% year over year to $4.327 million.
- Minor pointAYON power liposuction handpiece entered full commercial launch in the third quarter, following FDA clearance earlier in 2026.
- Minor pointRenuvion study: six participants completing six-month follow-up showed 30% greater elastin fiber density versus untreated control areas.
- Minor pointRenuvion study: treated tissue showed 34% less inflammation versus untreated control areas among six participants completing six-month follow-up.
- Minor pointNine-month revenue rose 20.0% year over year to $40.404 million.
- Minor pointNine-month Surgical Aesthetics revenue rose 26.1% year over year to $36.090 million.
- Minor pointNine-month domestic revenue rose 14.1% year over year to $27.223 million.
- Minor pointNine-month international revenue rose 34.1% year over year to $13.181 million.
- Minor pointNine-month gross profit increased to $25.796 million from $21.045 million a year earlier.
- Minor pointNine-month operating loss narrowed to $3.288 million from $6.457 million a year earlier.
- Minor pointNine-month stockholder loss narrowed to $7.136 million, or $0.16 per share, from $9.912 million, or $0.24.
- Minor pointProfessional-services expenses declined to $1.148 million in the third quarter from $1.321 million a year earlier.
- Minor pointNine-month professional-services expenses declined to $3.614 million from $4.182 million a year earlier.
- Minor pointNine-month research and development expenses declined to $2.407 million from $2.429 million a year earlier.
Negative
- Moderate pointCash and cash equivalents declined to $25.777 million at September 30, 2026, from $31.740 million at year-end 2025.
- Moderate pointThird-quarter OEM revenue fell 41.5% year over year to $1.060 million on lower existing-customer sales volume.
- Moderate pointStockholders’ equity declined to $9.631 million at September 30, 2026, from $14.540 million at year-end 2025.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 OEM revenue expected at approximately $5.0 million, versus approximately $7.5 million in 2025.
- Minor pointDomestic standalone-generator and global single-use handpiece sales declined, partially offsetting third-quarter Surgical Aesthetics growth.
10 minor points
- Minor pointThird-quarter gross margin was 64.2%, versus 64.4% a year earlier.
- Minor pointThird-quarter salaries and related costs increased to $3.595 million from $3.191 million a year earlier.
- Minor pointThird-quarter selling, general and administrative expenses increased to $3.980 million from $3.816 million a year earlier.
- Minor pointThird-quarter research and development expenses increased to $849,000 from $801,000 a year earlier.
- Minor pointThird-quarter other expense, net increased to $1.119 million from $1.045 million a year earlier.
- Minor pointNine-month OEM revenue fell 14.7% year over year to $4.314 million.
- Minor pointNine-month salaries and related costs increased to $10.222 million from $9.344 million a year earlier.
- Minor pointNine-month selling, general and administrative expenses increased to $12.841 million from $11.547 million a year earlier.
- Minor pointNine-month other expense, net increased to $3.350 million from $3.232 million a year earlier.
- Minor pointLong-term debt, net rose to $35.573 million at September 30, 2026, from $34.849 million at year-end 2025.
News Explained
Apyx Medical disclosed 42,124,023 common shares issued and outstanding at
Key Figures
- Total revenue
- $14.0 million, up 9%
- Third quarter 2026 versus $12.9 million in third quarter 2025
- Surgical Aesthetics revenue
- $13.0 million, up 17%
- Third quarter 2026
- OEM revenue
- Approximately $1.1 million, down 42%
- Third quarter 2026 year over year
- Net loss attributable to stockholders
- $1.8 million
- Third quarter 2026 versus $2.0 million in third quarter 2025
- Adjusted EBITDA
- $0.4 million
- Third quarter 2026 versus an adjusted EBITDA loss of $0.1 million in third quarter 2025
- FY2026 revenue guidance
- $59.0 million to $60.0 million
- Reaffirmed full-year 2026 guidance
- FY2026 operating expense guidance
- $41.0 million to $42.5 million
- Updated from previous guidance of less than $45.0 million
- Cash and cash equivalents
- $25.8 million
- As of September 30, 2026
Previous Earnings Reports
-
Revenue and Surgical Aesthetics grew, while OEM revenue declined and adjusted EBITDA loss narrowed.
-
Revenue growth prompted management to raise full-year 2026 revenue guidance.
-
Reported prior-year third-quarter revenue and Surgical Aesthetics results provide a comparable baseline.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
elastin fiber density medical
fda clearance regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Reported total revenue of
$14.0 million in the third quarter of 2026 driven by17% growth in the Surgical Aesthetics segment - Initiated successful full commercial launch of the power liposuction handpiece for the AYON system in the third quarter
- Reaffirmed total revenue guidance for FY2026 of
$59.0 million to$60.0 million - Management to host a conference call today at 8:00 a.m. ET
CLEARWATER, Fla., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Apyx Medical Corporation (NASDAQ:APYX) (“Apyx Medical;” the “Company”), the leader in surgical aesthetics marketed and sold as Renuvion® and the AYON Body Contouring System™ (AYON), today reported financial results for its third quarter ended September 30, 2026.
Recent Financial and Operating Highlights:
- Reported total revenue of
$14.0 million in the third quarter of 2026, compared with$12.9 million in the same period last year.- Surgical Aesthetics revenue increased to
$13.0 million in the third quarter of 2026, compared with$11.1 million in the third quarter of 2025, which was the result of sales of AYON domestically and Renuvion generators internationally. - OEM revenue was approximately
$1.1 million in the third quarter of 2026, representing a decrease of42% from the same period last year.
- Surgical Aesthetics revenue increased to
- Net loss attributable to stockholders of
$1.8 million in the third quarter of 2026, compared with a net loss attributable to stockholders of$2.0 million in the third quarter of 2025. - Adjusted EBITDA was
$0.4 million for the third quarter of 2026, compared with Adjusted EBITDA loss of$0.1 million for the third quarter of 2025. - Initiated the full commercial launch of the reusable power liposuction handpiece for the AYON Body Contouring System in third quarter of 2026, following positive feedback from key early adopter surgeons.
- Published prospective clinical study supporting Renuvion’s effects on biological markers associated with skin quality in the peer-reviewed academic journal Plastic and Reconstructive Surgery—Global Open. Among six participants completing six-month follow-up, treated tissue demonstrated
30% greater elastin fiber density and34% less inflammation compared with untreated control areas.
“We are pleased to report
The following tables present revenue by reportable segment and geography:
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||
| (In thousands) | 2026 | 2025 | Change | 2026 | 2025 | Change | ||||||||||||||||||
| Sales by Reportable Segment | ||||||||||||||||||||||||
| Surgical Aesthetics | $ | 12,970 | $ | 11,065 | 17.2 | % | $ | 36,090 | $ | 28,622 | 26.1 | % | ||||||||||||
| OEM | 1,060 | 1,812 | (41.5 | )% | 4,314 | 5,058 | (14.7 | )% | ||||||||||||||||
| Total | $ | 14,030 | $ | 12,877 | 9.0 | % | $ | 40,404 | $ | 33,680 | 20.0 | % | ||||||||||||
| Sales by Domestic and International | ||||||||||||||||||||||||
| Domestic | $ | 9,703 | $ | 9,332 | 4.0 | % | $ | 27,223 | $ | 23,851 | 14.1 | % | ||||||||||||
| International | 4,327 | 3,545 | 22.1 | % | 13,181 | 9,829 | 34.1 | % | ||||||||||||||||
| Total | $ | 14,030 | $ | 12,877 | 9.0 | % | $ | 40,404 | $ | 33,680 | 20.0 | % | ||||||||||||
Third Quarter 2026 Results:
Total revenue for the three months ended September 30, 2026 increased
Gross profit for the three months ended September 30, 2026, increased
Operating expenses increased to
Other expense, net increased slightly to
Net loss attributable to stockholders was
Adjusted EBITDA for the three months ended September 30, 2026 was
For the three months ended September 30, 2026, net cash used in operating activities was
Financial Guidance for Full Year 2026:
The Company reaffirmed its revenue guidance targets and updated its operating expenses target for the year ending December 31, 2026:
- Total revenue in the range of
$59.0 million to$60.0 million , compared with$52.8 million reported for the year ended December 31, 2025.- Total revenue guidance assumes:
- Surgical Aesthetics revenue is expected to be in the range of
$54.0 million to$55.0 million , compared with approximately$45.3 million reported for the year ended December 31, 2025. - OEM revenue is expected to be approximately
$5.0 million , compared with approximately$7.5 million for the year ended December 31, 2025.
- Surgical Aesthetics revenue is expected to be in the range of
- Total revenue guidance assumes:
- The Company expects gross margins in the range of
63% to65% . - The Company now expects operating expenses in the range of
$41.0 million to$42.5 million for the year ended December 31, 2026 down from the previous guidance of less than$45.0 million .
Conference Call Details:
Management will host a conference call at 8:00 a.m. Eastern Time today, November 5th, to discuss the results of the third quarter ended September 30, 2026, followed by a question-and-answer session. To listen to the call by phone, interested parties may dial 800-717-1738 (or 646-307-1865 for international callers) and provide access code 20167. Participants should ask for the “Apyx Medical Corporation Call”. A live webcast of the call will be accessible via the following link: Apyx Medical Earnings Webcast and via the Investor Relations section of the Company’s website, where it will also be archived for future reference.
An archive of the webcast will be accessible approximately one hour after the live event ends on the Investor Relations section of the Company’s website (click here).
Investor Relations Contact:
Jeremy Feffer, Managing Director, LifeSci Advisors
OP: 212-915-2568
jfeffer@lifesciadvisors.com
About AYON Body Contouring System™:
AYON is a groundbreaking, surgeon-designed body contouring system that combines precision, versatility and innovation in an all-in-one platform. It seamlessly integrates advanced fat removal technologies, Renuvion’s tissue contraction and electrosurgical capabilities, empowering surgeons to deliver the most comprehensive body contouring treatments for patients. With advanced features like LIFT Technology for real-time adjustments and Renuvion for enhanced tissue contraction, AYON sets a new standard in surgical care, streamlining procedures and maximizing patient outcomes. Backed by Apyx Medical’s expertise and evidence-based design, AYON delivers consistent, reliable performance and an unmatched return on investment. As the first of its kind, AYON is revolutionizing body contouring and shaping the future of aesthetic surgery.
About Apyx Medical Corporation:
Apyx Medical Corporation is a surgical aesthetics company with a passion for elevating people’s lives through innovative products including its Helium Plasma Platform Technology products marketed and sold as Renuvion®, the AYON Body Contouring SystemTM in the cosmetic surgery market and J-Plasma® in the hospital surgical market. Renuvion and J-Plasma offer surgeons a unique ability to provide controlled heat to tissue to achieve their desired results. The effectiveness of Renuvion and J-Plasma are supported by more than 90 clinical documents. The AYON Body Contouring System is an FDA-cleared, groundbreaking, surgeon-designed body contouring system that combines precision, versatility and innovation in an all-in-one platform. It seamlessly integrates fat removal, closed loop contouring, electrosurgical capabilities and Renuvion for tissue contraction, empowering surgeons to deliver the most comprehensive body contouring treatments for patients. The Company also leverages its decades of experience in unique waveforms through OEM agreements with other medical device manufacturers. For further information about the Company and its products, please refer to the Apyx Medical Corporation website at www.ApyxMedical.com.
Cautionary Statement on Forward-Looking Statements:
Certain matters discussed in this release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to, projections of net revenue, margins, expenses, net earnings, net earnings per share, or other financial items; projections or assumptions concerning the possible receipt by the Company of any regulatory approvals from any government agency or instrumentality including but not limited to the U.S. Food and Drug Administration (the “FDA”), supply chain disruptions, component shortages, manufacturing disruptions or logistics challenges; or macroeconomic or geopolitical matters and the impact of those matters on the Company’s financial performance.
Forward-looking statements and information are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause the Company’s actual results to differ materially and that could impact the Company and the statements contained in this release include but are not limited to risks, uncertainties and assumptions relating to the regulatory environment in which the Company is subject to, including the Company’s ability to gain requisite approvals for its products from the FDA and other governmental and regulatory bodies, both domestically and internationally; sudden or extreme volatility in commodity prices and availability, including supply chain disruptions; changes in general economic, business or demographic conditions or trends; changes in and effects of the geopolitical environment; liabilities and costs which the Company may incur from pending or threatened litigations, claims, disputes or investigations; and other risks that are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and the Company’s other filings with the Securities and Exchange Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
APYX MEDICAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (In thousands, except per share data)
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Sales, net | $ | 14,030 | $ | 12,877 | $ | 40,404 | $ | 33,680 | ||||||||
| Cost of sales | 5,029 | 4,580 | 14,608 | 12,635 | ||||||||||||
| Gross profit | 9,001 | 8,297 | 25,796 | 21,045 | ||||||||||||
| Other costs and expenses: | ||||||||||||||||
| Research and development | 849 | 801 | 2,407 | 2,429 | ||||||||||||
| Professional services | 1,148 | 1,321 | 3,614 | 4,182 | ||||||||||||
| Salaries and related costs | 3,595 | 3,191 | 10,222 | 9,344 | ||||||||||||
| Selling, general and administrative | 3,980 | 3,816 | 12,841 | 11,547 | ||||||||||||
| Total other costs and expenses | 9,572 | 9,129 | 29,084 | 27,502 | ||||||||||||
| Loss from operations | (571 | ) | (832 | ) | (3,288 | ) | (6,457 | ) | ||||||||
| Interest income | 286 | 292 | 780 | 874 | ||||||||||||
| Interest expense | (1,414 | ) | (1,413 | ) | (4,177 | ) | (4,182 | ) | ||||||||
| Other income, net | 9 | 76 | 47 | 76 | ||||||||||||
| Total other expense, net | (1,119 | ) | (1,045 | ) | (3,350 | ) | (3,232 | ) | ||||||||
| Loss before income taxes | (1,690 | ) | (1,877 | ) | (6,638 | ) | (9,689 | ) | ||||||||
| Income tax expense | 116 | 78 | 383 | 176 | ||||||||||||
| Net loss | (1,806 | ) | (1,955 | ) | (7,021 | ) | (9,865 | ) | ||||||||
| Net (loss) income attributable to non-controlling interest | (21 | ) | 29 | 115 | 47 | |||||||||||
| Net loss attributable to stockholders | $ | (1,785 | ) | $ | (1,984 | ) | $ | (7,136 | ) | $ | (9,912 | ) | ||||
| Loss per share: | ||||||||||||||||
| Basic and diluted | $ | (0.04 | ) | $ | (0.05 | ) | $ | (0.16 | ) | $ | (0.24 | ) | ||||
APYX MEDICAL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
| September 30, 2026 | ||||||||
| (Unaudited) | December 31, 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 25,777 | $ | 31,740 | ||||
| Trade accounts receivable, net of allowance of | 14,872 | 16,776 | ||||||
| Inventories, net of provision for obsolescence of | 11,950 | 8,602 | ||||||
| Prepaid expenses and other current assets | 1,244 | 1,353 | ||||||
| Total current assets | 53,843 | 58,471 | ||||||
| Property and equipment, net of accumulated depreciation and amortization of | 2,193 | 2,371 | ||||||
| Operating lease right-of-use assets | 3,880 | 4,218 | ||||||
| Finance lease right-of-use assets | 12 | 28 | ||||||
| Other assets | 1,742 | 1,752 | ||||||
| Total assets | $ | 61,670 | $ | 66,840 | ||||
| LIABILITIES AND EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 3,513 | $ | 3,058 | ||||
| Accrued expenses and other current liabilities | 6,872 | 8,214 | ||||||
| Current portion of operating lease liabilities | 467 | 407 | ||||||
| Current portion of finance lease liabilities | 18 | 21 | ||||||
| Total current liabilities | 10,870 | 11,700 | ||||||
| Long-term debt, net of debt discounts and issuance costs | 35,573 | 34,849 | ||||||
| Long-term operating lease liabilities | 3,688 | 4,051 | ||||||
| Long-term finance lease liabilities | — | 12 | ||||||
| Long-term contract liabilities | 1,167 | 1,050 | ||||||
| Other liabilities | 335 | 347 | ||||||
| Total liabilities | 51,633 | 52,009 | ||||||
| EQUITY | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 42 | 42 | ||||||
| Additional paid-in capital | 105,847 | 103,620 | ||||||
| Accumulated deficit | (96,258 | ) | (89,122 | ) | ||||
| Total stockholders’ equity | 9,631 | 14,540 | ||||||
| Non-controlling interest | 406 | 291 | ||||||
| Total equity | 10,037 | 14,831 | ||||||
| Total liabilities and equity | $ | 61,670 | $ | 66,840 | ||||
Use of Non-GAAP Financial Measure:
The Company has presented the following non-GAAP financial measure in this press release: adjusted EBITDA. The Company defines adjusted EBITDA as its reported net loss attributable to stockholders (GAAP) plus income tax expense (benefit), interest income and expense, depreciation and amortization, stock-based compensation expense and other significant non-recurring items.
We present the following non-GAAP measure of adjusted EBITDA because we believe such measure is a useful indicator of our operating performance. Our management uses adjusted EBITDA principally as a measure of our operating performance and believes that this measure is useful to investors because it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We also believe that this measure is useful to our management and investors as a measure of comparative operating performance from period to period. The non-GAAP financial measure presented in this release should not be considered as a substitute for, or preferable to, the measures of financial performance prepared in accordance with GAAP.
APYX MEDICAL CORPORATION
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP ADJUSTED EBITDA
(Unaudited)
| Three Months Ended | Nine Months Ended | |||||||||||||||
| (In thousands) | September 30, | September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net loss attributable to stockholders | $ | (1,785 | ) | $ | (1,984 | ) | $ | (7,136 | ) | $ | (9,912 | ) | ||||
| Interest income | (286 | ) | (292 | ) | (780 | ) | (874 | ) | ||||||||
| Interest expense | 1,414 | 1,413 | 4,177 | 4,182 | ||||||||||||
| Income tax expense | 116 | 78 | 383 | 176 | ||||||||||||
| Depreciation and amortization | 187 | 164 | 585 | 434 | ||||||||||||
| Stock-based compensation | 753 | 530 | 2,139 | 1,501 | ||||||||||||
| Adjusted EBITDA | $ | 399 | $ | (91 | ) | $ | (632 | ) | $ | (4,493 | ) | |||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Apyx Medical’s third-quarter 2026 earnings results?
Apyx Medical reported $14.030 million in revenue and a $1.785 million loss attributable to stockholders, or $0.04 per share. Revenue increased 9.0% year over year, while the stockholder loss narrowed from $1.984 million, or $0.05 per share.
What is Apyx Medical’s full-year 2026 financial outlook?
Apyx Medical expects $59.0 million to $60.0 million in 2026 revenue and operating expenses of $41.0 million to $42.5 million. Its outlook includes Surgical Aesthetics revenue of $54.0 million to $55.0 million, OEM revenue of approximately $5.0 million, and gross margins of 63% to 65%.
What did Apyx Medical’s Renuvion clinical study find?
Among six participants completing six-month follow-up, treated tissue demonstrated 30% greater elastin fiber density and 34% less inflammation compared with untreated control areas. The prospective study was published in the peer-reviewed journal Plastic and Reconstructive Surgery—Global Open.