Financial Data and Key Metrics Changes - The company reported total revenue of $11.5 million for Q3 2024, a decrease of 4% compared to $12 million in Q3 2023 [16][22] - Advanced Energy products sales decreased 6% year-over-year to $9.3 million, primarily due to soft generator capital sales [16][22] - Gross profit for Q3 2024 decreased by $1 million or 13% to $7 million, with a gross profit margin of 60.5% compared to 66.6% in the prior year [23] - Net loss attributable to shareholders was $4.7 million or $0.14 per share, compared to $4.6 million or $0.13 per share in the prior year [25] Business Line Data and Key Metrics Changes - Disposable handpiece revenue grew 9% overall and 15% in the United States, now accounting for more than 60% of total Advanced Energy revenue [17][19] - OEM segment sales increased by 3% to approximately $0.1 million in Q3 2024 compared to Q3 2023, driven by increased sales volumes to existing customers [22] Market Data and Key Metrics Changes - The company noted that the macroeconomic environment and the introduction of GLP-1 drugs have negatively impacted procedural volumes, leading to a postponement of aesthetic procedures [16][18] - The company anticipates that the growing population on GLP-1 drugs will create a significant tailwind for Renuvion, the only FDA-approved solution for loose skin [19] Company Strategy and Development Direction - Apyx Medical is implementing an organizational restructuring, reducing its US workforce by nearly 25% to streamline operations and focus resources [7][9] - The company is developing the Ayon body contouring system, which integrates multiple technologies into a single device, aiming for FDA submission by the end of Q1 2025 and a launch in the second half of 2025 [20][31] - Apyx Medical plans to enhance its direct-to-consumer marketing strategy to increase awareness of Renuvion and educate patients on treatment options [19][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth, citing the potential of the Ayon platform and the expected recovery in the capital equipment market [10][28] - The company anticipates total revenue for 2024 to be in the range of $46.6 million to $47.6 million, representing a decrease of approximately 11% to 9% year-over-year [28][31] Other Important Information - The company announced a $7 million registered direct cash investment from Nantahala Capital Management to strengthen its balance sheet [13][26] - Apyx Medical has amended its credit agreement with Perceptive Advisors, reducing revenue covenants and adding operating expense covenants for 2025 and 2026 [13][26] Q&A Session Summary Question: Where will the growth for Advanced Energy come from in 2025? - Management indicated that growth is expected to come from continued handpiece growth and some contribution from Ayon in the latter half of the year [33] Question: Can you elaborate on the Ayon product and its market potential? - Management described Ayon as a game changer that integrates various technologies, with a focus on making surgical procedures safer and more efficient [34][40] Question: How is the company positioning for growth in 2025 amidst changing market conditions? - Management highlighted an increase in direct-to-consumer marketing efforts and a focus on educating patients about treatment options [38] Question: What are the implications of the reduction in force? - The reduction was across the board, aimed at right-sizing the organization to focus on profitability [44] Question: Will Ayon cannibalize the Renuvion market? - Management clarified that Ayon will not replace Renuvion but will enhance the offerings for existing customers who have the Apyx One generator [39][40] Question: How quickly will the identified cost savings be implemented? - Management confirmed that the cost savings will be realized in the current quarter, with no additional one-time charges expected [49]

Apyx Medical (APYX) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.67%. A quarter ago, it was expected that this medical device maker would post a loss of $0.18 per share when it actually produced a loss of $0.19, delivering a surprise of -5.56%.Over the last four quarters, the company has ...

Exhibit 10.2 SECURITIES PURCHASE AGREEMENT This Securities Purchase Agreement (this "Agreement") is dated as of November 7, 2024, between Apyx Medical Corporation, a Delaware corporation (the "Company"), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a "Purchaser" and collectively the "Purchasers"). WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act (as ...

CLEARWATER, Fla., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Apyx Medical Corporation (NASDAQ:APYX) (“Apyx Medical” or the “Company”), the manufacturer of a proprietary helium plasma and radiofrequency platform technology marketed and sold as Renuvion®, today announced it has entered into a definitive purchase agreement with Nantahala Capital for the purchase and sale in a registered direct offering of 3,000,000 shares of the Company’s common stock at a purchase price of $1.18 per share and pre-funded warrants to pu ...

Strengthened balance sheet with a common stock registered direct offering with gross proceeds of approximately $7.0 million; and amended revenue covenants for the Company’s credit agreement with PerceptiveAnnounces cost savings restructuring program to better focus, optimize and streamline operations, including a nearly 25% reduction in U.S. workforce Announces 9% overall growth in single-use handpiece revenue and 15% growth in the U.S.Management to host a conference call today at 8:00 a.m. ET CLEARWATER, F ...

Company Overview - Apyx Medical Corporation is an advanced energy technology company focused on innovative products, including its Helium Plasma Platform Technology marketed as Renuvion in the cosmetic surgery market and J-Plasma in the hospital surgical market [2] - The effectiveness of Renuvion and J-Plasma is supported by over 90 clinical documents, showcasing the company's commitment to clinical validation [2] Financial Results Announcement - Apyx Medical will release its financial results for the third quarter of fiscal year 2024 before the market opens on November 8, 2024 [1] - Management will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss the quarterly results and conduct a question-and-answer session [1] - Interested parties can access the call by phone or through a live webcast, which will also be archived for future reference [1]

Core Viewpoint - Apyx Medical (APYX) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with near-term stock price movements [3]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [3]. Earnings Estimate Revisions - Apyx is projected to earn -$0.70 per share for the fiscal year ending December 2024, reflecting a year-over-year decline of 55.6% [5]. - Over the past three months, the Zacks Consensus Estimate for Apyx has increased by 6.7%, indicating a positive trend in earnings estimates [5]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [4]. - Apyx's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [7].

Group 1 - Renuvion has been recognized as the 1 trusted body contouring technology by plastic and cosmetic surgeons in an independent survey conducted by Wakefield Research, highlighting its effectiveness in targeting loose skin [1][3] - The technology is the first and only FDA-cleared device for contracting subcutaneous tissue and is preferred by 4 out of 5 surgeons for use after liposuction, which was the most common cosmetic surgical procedure in 2023 with nearly 2.3 million performed [3] - Apyx Medical has secured four FDA 510(k) clearances in the past two years, demonstrating its commitment to evidence-based outcomes through advanced technology [2] Group 2 - Renuvion has treated over 350,000 patients since its market launch, aiming to improve physical, mental, and emotional well-being [2] - The company emphasizes the importance of trust and results in the plastic surgery industry, supported by over 90 clinical papers and peer-reviewed studies [2] - Apyx Medical Corporation specializes in advanced energy technology, with products marketed as Renuvion in the cosmetic surgery market and J-Plasma in the hospital surgical market, providing controlled heat to tissue for desired surgical outcomes [4]

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 decreased 10% year-over-year to $12.1 million [6] - Gross profit decreased $1.8 million or 19% to $7.5 million, with a gross profit margin of 61.7% compared to 68.4% in the prior period [16] - Net loss attributable to stockholders was $6.6 million or $0.19 per share, compared to $1 million or $0.03 per share in the prior year period [18] - Adjusted EBITDA loss increased $2.7 million or 166% to $4.3 million compared to $1.6 million in Q2 2023 [19] Business Line Data and Key Metrics Changes - Sales of Advanced Energy products decreased 17% year-over-year to $9.8 million, while OEM products increased 29% year-over-year to $2.4 million [6] - Handpiece sales increased by more than 20% year-over-year, helping to mitigate the impact of lower generator sales [7][15] Market Data and Key Metrics Changes - The cosmetic surgery market remains challenging, with prospective customers delaying purchase decisions due to macroeconomic concerns [6][7] - International sales comprised a higher percentage of total sales compared to the prior period, impacting gross margin [16] Company Strategy and Development Direction - The company is focused on raising awareness of Renuvion technology and educating surgeons and patients about its benefits [8][26] - A strategic review of the business is being conducted to enhance growth and unlock shareholder value [26] - The company aims to capitalize on long-term trends such as the increasing acceptance of aesthetic treatments and the rise of body contouring procedures [26][27] Management's Comments on Operating Environment and Future Outlook - Management expects the challenging capital equipment environment to continue impacting sales of generator systems throughout the year [24] - There is an expectation of continued growth in handpiece sales, with low double-digit growth anticipated for the second half of 2024 [24] - The company is managing expenses closely to optimize cash efficiency while preparing for a return to strong growth [26] Other Important Information - The company has launched the "Renewing Lives" campaign, a nationwide giveback program to fund Renuvion procedures for those who cannot afford them [14] Q&A Session Summary Question: What are the primary drivers for handpiece utilization? - Management noted that some growth is attributed to GLP-1 patients needing treatments for loose skin, contributing to strong handpiece sales [30] Question: Are there opportunities to add new geographies this year? - Management confirmed that registrations for South Korea and China are in place, and updates will be provided once news is available [32] Question: How did U.S. versus international handpiece sales perform? - Both U.S. and international handpiece sales were up more than 20% year-over-year, indicating strong performance in both markets [35] Question: What is the outlook for capital equipment sales? - Management indicated that the capital equipment environment remains challenged, and guidance reflects this ongoing difficulty [35] Question: How many system sales were to new customers? - The majority of system sales in the quarter were to new customers adopting the technology [40] Question: Is there an acceleration in utilization with the micro handpiece? - The micro handpiece is contributing to growth, but the primary driver remains the body contouring handpieces [42]

Apyx Medical (APYX) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.56%. A quarter ago, it was expected that this medical device maker would post a loss of $0.18 per share when it actually produced a loss of $0.22, delivering a surprise of -22.22%.Over the last four quarters, the company h ...