EXHIBIT 99.1 Apyx Medical Corporation Reports Second Quarter 2024 Financial Results; Updates Full Year 2024 Financial Outlook CLEARWATER, FL — August 8, 2024 - Apyx Medical Corporation (NASDAQ:APYX) ("Apyx Medical;" the "Company"), the manufacturer of a proprietary helium plasma and radiofrequency platform technology marketed and sold as Renuvion , today reported financial results for its second quarter ended June 30, 2024; and updated its financial expectations for the full year ending December 31, 2024. ® ...

Renuvion is the only device FDA-cleared for contracting subcutaneous tissue CLEARWATER, Fla., June 26, 2024 /PRNewswire/ -- Apyx® Medical Corporation (NASDAQ: APYX) ("Apyx Medical;" the "Company"), the manufacturer of a proprietary helium plasma and radiofrequency technology marketed and sold as Renuvion®, today announced the launch of the "Renewing Lives" campaign, a nationwide, life-changing give-back program that will provide Renuvion treatments to people who can most benefit from this advanced medical t ...

Apyx Medical Corporation (NASDAQ:APYX) Q1 2024 Results Conference Call May 9, 2024 8:00 AM ET Company Participants Charles Goodwin - President, Chief Executive Officer & Director Matt Hill - Chief Financial Officer Conference Call Participants Phillip Paul Dantoin - Piper Sandler Frank Takkinen - Lake Street Capitals Matt Hewitt - Craig-Hallum Capital George Sellers - Stephens Inc Operator Hello, and welcome, ladies and gentlemen, to the First Quarter of Fiscal Year 2024 Earnings Conference Call for Apyx Me ...

[Part I. Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) [Condensed Consolidated Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) For the first quarter ended March 31, 2024, Apyx Medical reported total sales of $10.2 million, a 15.6% decrease year-over-year. The company experienced a wider loss from operations of $6.6 million and a net loss of $7.6 million, compared to a $3.5 million net loss in the prior year's quarter. The balance sheet shows a decrease in cash and cash equivalents to $37.3 million and a reduction in total equity to $20.5 million. Net cash used in operating activities increased significantly to $6.3 million [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets were $70.7 million, down from $79.2 million at year-end 2023, primarily due to a decrease in cash and cash equivalents from $43.7 million to $37.3 million. Total liabilities decreased slightly to $50.3 million, while total equity declined from $26.9 million to $20.5 million, driven by the net loss during the quarter Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $37,282 | $43,652 | | Total current assets | $61,926 | $70,362 | | Total assets | $70,711 | $79,240 | | **Liabilities & Equity** | | | | Total current liabilities | $10,556 | $12,740 | | Long-term debt, net | $33,406 | $33,185 | | Total liabilities | $50,251 | $52,318 | | Total equity | $20,460 | $26,922 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended March 31, 2024, sales decreased 15.6% to $10.2 million from $12.1 million in the prior-year period. Gross profit fell to $5.9 million from $7.6 million. The loss from operations widened to $6.6 million from $5.6 million, and the net loss increased to $7.6 million, or $(0.22) per share, compared to a net loss of $3.5 million, or $(0.10) per share, in Q1 2023 Q1 2024 vs Q1 2023 Statement of Operations (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Sales | $10,244 | $12,142 | | Gross Profit | $5,949 | $7,573 | | Loss from operations | $(6,615) | $(5,611) | | Net loss attributable to stockholders | $(7,576) | $(3,483) | | Loss per share (Basic and diluted) | $(0.22) | $(0.10) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first quarter of 2024, net cash used in operating activities was $6.3 million, a significant increase from $1.9 million used in the same period of 2023. This was primarily due to a larger operating loss and payment of accrued bonuses. Investing activities used a minimal $35,000. The company's cash and cash equivalents decreased by $6.4 million, ending the period at $37.3 million Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(6,341) | $(1,881) | | Net cash used in investing activities | $(35) | $(110) | | Net cash (used in) provided by financing activities | $(5) | $8,112 | | **Net change in cash and cash equivalents** | **$(6,370)** | **$6,063** | | Cash and cash equivalents, end of period | $37,282 | $16,255 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the company's debt structure, litigation contingencies, and segment performance. The company has a credit agreement with Perceptive with specific financial covenants, including minimum revenue targets and a $3 million cash balance requirement. Apyx is facing several product liability lawsuits and has accrued a total of $2.75 million for estimated defense costs. Segment data shows a significant decline in Advanced Energy sales, while OEM sales grew - The company operates in two segments: Advanced Energy (Renuvion® and J-Plasma® products) and OEM (agreements with other medical device manufacturers)[23](index=23&type=chunk)[60](index=60&type=chunk) - The company has a term loan with Perceptive Credit Holdings with a floating interest rate of one-month SOFR plus **7.0%** (**12.3%** at March 31, 2024). The agreement includes covenants for minimum revenue targets and maintaining a **$3 million** cash balance[31](index=31&type=chunk)[33](index=33&type=chunk) - The company has accrued probable losses for legal defense costs related to two sets of product liability lawsuits, totaling **$1.45 million** and **$1.3 million** respectively[53](index=53&type=chunk)[54](index=54&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 15.6% year-over-year revenue decline to a 23.1% drop in Advanced Energy segment sales, particularly in domestic generator sales, citing economic uncertainty in the aesthetic capital equipment market. This was partly offset by a 13.8% increase in OEM sales. Gross margin decreased from 62.4% to 58.1% due to an unfavorable sales mix. The net loss widened, and cash used in operations increased. The company believes its existing cash and potential financing facilities are sufficient to fund operations, despite anticipating continued near-term losses Sales by Reportable Segment (in thousands) | Segment | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Advanced Energy | $7,453 | $9,690 | (23.1)% | | OEM | $2,791 | $2,452 | 13.8% | | **Total** | **$10,244** | **$12,142** | **(15.6)%** | - The decrease in Advanced Energy sales was driven by lower domestic sales of generators due to economic uncertainty in the aesthetic capital equipment market, as well as a decrease in single-use handpieces[75](index=75&type=chunk) - Gross margin decreased to **58.1%** from **62.4%** in the prior year, primarily due to changes in sales mix, with the lower-margin OEM segment and international sales comprising a higher percentage of total sales[77](index=77&type=chunk)[78](index=78&type=chunk) - Net cash used in operating activities increased to **$6.3 million** in Q1 2024 from **$1.9 million** in Q1 2023, mainly due to the payment of accrued bonuses in 2024 and a higher operating loss[91](index=91&type=chunk) - The company has a credit facility of up to **$45 million** from Perceptive, with an initial loan of **$37.5 million** drawn and a potential delayed draw of **$7.5 million** available upon meeting a revenue target[94](index=94&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=23&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This item is not applicable for the company as a smaller reporting company - The company has indicated that this section is not applicable[116](index=116&type=chunk) [Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2024. There were no material changes in the company's internal control over financial reporting during the quarter - Based on an evaluation as of the end of the reporting period, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[118](index=118&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[119](index=119&type=chunk) [Part II. Other Information](index=25&type=section&id=Part%20II.%20Other%20Information) [Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in several product liability lawsuits concerning its Helium Plasma technology. For one set of related cases, it has accrued an estimated loss of $1.45 million for defense costs. For another group of lawsuits filed in March 2024 related to alleged off-label use and mismarketing, it has accrued an estimated loss of $1.3 million. The company denies liability and intends to defend these suits vigorously - This section refers to Note 10 of the financial statements for details on legal proceedings[121](index=121&type=chunk) - The company has determined that a loss is probable for defense costs in two separate sets of product liability lawsuits and has recorded estimated losses of **$1,450,000** and **$1,300,000**, respectively[53](index=53&type=chunk)[54](index=54&type=chunk) [Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 - The company states there have been no material changes to the risk factors described in its 2023 Form 10-K[123](index=123&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities or use of proceeds during the period - None reported[125](index=125&type=chunk) [Defaults Upon Senior Securities](index=27&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None reported[125](index=125&type=chunk) [Mine Safety Disclosures](index=27&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[125](index=125&type=chunk) [Other Information](index=27&type=section&id=Item%205.%20Other%20Information) The company reported no other information for this item - None reported[125](index=125&type=chunk) [Exhibits](index=28&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents, CEO/CFO certifications, and XBRL data files - Lists exhibits filed with the report, including Sarbanes-Oxley certifications and XBRL documents[127](index=127&type=chunk)

Apyx Medical (APYX) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -22.22%. A quarter ago, it was expected that this medical device maker would post a loss of $0.13 per share when it actually produced a loss of $0.19, delivering a surprise of -46.15%.Over the last four quarters, the company ...

Financial Performance - Total revenue for Q1 2024 was $10.2 million, a decrease of 16% year-over-year from $12.1 million in Q1 2023[2] - Advanced Energy revenue decreased by 23% year-over-year to $7.5 million, while OEM revenue increased by 14% year-over-year to $2.8 million[7] - Net loss attributable to stockholders for Q1 2024 was $7.6 million, an increase of 118% compared to $3.5 million in Q1 2023[10] - Adjusted EBITDA loss for Q1 2024 was $5.3 million, up from $4.0 million in the prior year[10] - The company reaffirmed its full-year 2024 revenue guidance of $49.7 million to $52.9 million, representing a decrease of approximately 5% to growth of approximately 1% year-over-year[11] - Advanced Energy revenue guidance for 2024 is projected to be between $41.6 million and $44.6 million, indicating a decrease of approximately 4% to growth of approximately 3% year-over-year[11] - OEM revenue guidance for 2024 is expected to be between $8.1 million and $8.3 million, representing a decrease of 10% to 7% year-over-year[11] - Gross profit for Q1 2024 was $5.9 million, a decrease of 21% year-over-year, with a gross profit margin of 58.1% compared to 62.4% in Q1 2023[8] - Adjusted EBITDA for the three months ended March 2024 was $(5,337) thousand, compared to $(3,997) thousand for the same period in 2023, reflecting a decline of approximately 33.6%[2] - Net loss attributable to stockholders increased from $(3,483) thousand for the three months ended March 31, 2023, to $(7,576) thousand for the same period in 2024, representing an increase of about 117.5%[2] Expenses and Liabilities - Operating expenses for Q1 2024 decreased by 5% year-over-year to $12.6 million, driven by reductions in selling, general and administrative expenses[9] - Interest expense rose significantly from $234 thousand in 2023 to $1,396 thousand in 2024, an increase of approximately 495.7%[2] - Stock-based compensation decreased slightly from $1,367 thousand in 2023 to $1,128 thousand in 2024, a reduction of about 17.5%[2] - Total current liabilities decreased from $12,740 thousand as of December 31, 2023, to $10,556 thousand as of March 31, 2024, a decrease of approximately 17.2%[1] - Total liabilities decreased from $52,318 thousand as of December 31, 2023, to $50,251 thousand as of March 31, 2024, a decline of about 3.9%[1] Assets and Deficits - Total current assets decreased from $70,362 thousand as of December 31, 2023, to $61,926 thousand as of March 31, 2024, representing a decline of approximately 12.3%[1] - Total assets decreased from $79,240 thousand as of December 31, 2023, to $70,711 thousand as of March 31, 2024, a reduction of about 10.8%[1] - The accumulated deficit increased from $(54,448) thousand as of December 31, 2023, to $(62,024) thousand as of March 31, 2024, indicating a worsening of approximately 14.5%[1] Corporate Governance - The company announced the retirement of Andrew Makrides as Chairman of the Board, with Stavros Vizirgianakis elected as the new Chairman effective May 7, 2024[3] Cash Flow - The company reported a decrease in cash and cash equivalents from $43,652 thousand as of December 31, 2023, to $37,282 thousand as of March 31, 2024, a decline of approximately 14.6%[1]

Financial Performance - For the year ended December 31, 2023, Apyx Medical incurred a loss from operations of $17.3 million and used $5.2 million of cash in operations, despite receiving a tax refund of approximately $8.1 million[21]. - As of December 31, 2023, Apyx Medical had cash and cash equivalents of $43.7 million, indicating a need for continued funding through existing cash and potential equity or debt financing[21]. - The company has a history of operating losses that have impacted overall cash flows and may affect its ability to continue as a going concern[85]. - The company anticipates needing to raise additional capital to fund future operations due to recurring net losses and the impact of FDA Safety Communication on demand[86]. - Higher inflation and interest rates could adversely impact the company's operating expenses and cash flows[81]. - Adverse macroeconomic conditions, including inflation and higher interest rates, could materially affect demand for the company's products and services[145]. Product Development and Regulatory Approvals - Apyx Medical received 510(k) clearance from the FDA for the Renuvion APR handpiece for coagulation of subcutaneous soft tissues following liposuction, which is expected to enhance product adoption[18]. - The company has received multiple 510(k) clearances from the FDA for its Renuvion products, including the Renuvion Dermal handpiece for dermal resurfacing and the Renuvion APR handpiece for subcutaneous procedures[111][112][113][114]. - The global regulatory environment for medical devices is becoming increasingly stringent, impacting the time and cost required for product approvals[108][121]. - The company may face challenges in successfully commercializing new products due to regulatory approvals and market acceptance[90]. Market and Competitive Landscape - The cosmetic surgery market is expected to grow steadily, with liposuction procedures increasing by 21.1% year-over-year, making it the number one aesthetic surgical procedure globally[30]. - The Advanced Energy segment contributed 82.9% of the consolidated total revenue for the year ended December 31, 2023, while the OEM segment contributed 17.1%[54]. - Apyx Medical Corporation's Renuvion technology is the only FDA-approved device for treating skin laxity post-liposuction, potentially increasing the total available market for its products[32]. - The cosmetic surgery market is adapting to the effects of GLP-1 drugs, which may initially reduce liposuction procedures but ultimately drive demand for body contouring solutions[32]. Operational Strategy and Management - Apyx Medical's management is reassessing operating expenditures to align with expected revenue levels, indicating a proactive approach to cost management[25]. - The company has entered into a Credit and Guaranty Agreement providing for a facility of up to $45 million, consisting of senior secured term loans, to support its operations[23]. - The company plans to sell and leaseback its Clearwater, FL property for a purchase price of $7.65 million, which will provide additional liquidity[24]. - The company has sold its facility in Clearwater, FL for $7.65 million and entered into a 10-year leaseback agreement, which is part of its strategy to enhance liquidity[24]. Innovation and Intellectual Property - Apyx Medical Corporation has been issued 39 patents in the United States and 46 foreign patents, with 17 pending patent applications in the United States and 48 pending foreign applications[35]. - The company has invested substantial resources in developing its Renuvion technology for the cosmetic surgery market, emphasizing the need for ongoing innovation[93]. - The company has significantly increased the number of physicians using its Helium Plasma Technology, expanding usage to include the U.S. cosmetic surgery market and surgical oncology market outside the U.S.[58]. Employee and Organizational Health - The voluntary employee turnover rate for 2023 was approximately 10.2%, with a total of 252 full-time employees worldwide[42]. - The company has a strong focus on employee health and safety, achieving no lost time accidents in 2023[51]. - The company relies on key personnel for its operations and may face challenges in attracting and retaining qualified individuals[139]. Supply Chain and Production Challenges - The company has experienced some delays in obtaining materials necessary for production but has not caused a meaningful backlog of sales orders[37]. - Fluctuations in the price and availability of raw materials could negatively affect the company's cost of sales and ability to meet customer demands[102]. - The company relies on certain suppliers and subcontractors for raw materials, making it vulnerable to supply chain disruptions[103]. Environmental, Social, and Governance (ESG) Initiatives - Apyx Medical Corporation maintains a commitment to environmental, social, and governance (ESG) initiatives, publishing its first ESG report in July 2022[41]. - The company is committed to sustainability, having published its first ESG report in July 2022, aligned with SASB Medical Equipment industry standards[41]. - Environmental regulations are tightening, potentially increasing compliance costs and impacting manufacturing processes for medical devices[124][127]. Risk Factors - The company is subject to increasing regulatory scrutiny, which may impact its financial condition and business operations[68]. - The company is subject to significant product liability risks, which could result in costly recalls or legal claims if quality issues arise[107][106]. - The company is exposed to anti-corruption regulations as it expands internationally, which could lead to severe penalties if violations occur[128][129]. - The company is subject to changing data privacy regulations, including the GDPR, which could result in legal liability if not adhered to[143]. - The company’s financial condition could be materially impacted by adverse regulatory actions or product liability claims[118][119]. - The company is subject to U.S. export control laws and regulations, which could impair its ability to compete internationally and may result in significant fines or penalties for non-compliance[130].

Apyx Medical Corporation (NASDAQ:APYX) Q4 2023 Earnings Conference Call March 21, 2024 8:00 AM ET Company Participants Charles D. Goodwin - President & CEO Matt Hill - CFO Conference Call Participants Frank Takkinen - Lake Street Capital Markets George Sellers - Stephens Inc. Matthew Hewitt - Craig-Hallum Capital Group Unidentified Analyst - Piper Sandler David Turkaly - JMP Securities Operator Hello, and welcome, ladies and gentlemen to the Fourth Quarter and Fiscal Year 2023 Earnings Conference Call for A ...

Apyx Medical (APYX) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -46.15%. A quarter ago, it was expected that this medical device maker would post a loss of $0.10 per share when it actually produced a loss of $0.13, delivering a surprise of -30%.Over the last four quarters, the company has ...

Group 1 - Apyx Medical Corporation will release its financial results for the fourth quarter and fiscal year 2023 on March 21st before the market opens [1] - A conference call will be held at 8:00 a.m. Eastern Time on the same day to discuss the results and answer questions [1] - Interested parties can access the call via phone or through a live webcast on the company's Investor Relations website [1] Group 2 - Apyx Medical Corporation specializes in advanced energy technology, particularly in helium plasma and radiofrequency technology [2] - The company's products, Renuvion and J-Plasma, are designed for cosmetic surgery and hospital surgical markets, providing controlled heat to tissue [2] - Apyx Medical also engages in OEM agreements with other medical device manufacturers, leveraging its expertise in unique waveforms [2]