Apyx Medical Corporation Reports Fourth Quarter and Full Year 2025 Financial Results

Core Insights - Apyx Medical Corporation reported a record total revenue of $19.2 million for Q4 2025, a 34.7% increase from $14.2 million in Q4 2024, driven by strong demand for the AYON Body Contouring System [4][5][7] - The company anticipates total revenue for FY2026 to be between $57.5 million and $58.5 million, with Surgical Aesthetics revenue projected to be in the range of $53.0 million to $54.0 million [4][20] Financial Performance - Surgical Aesthetics revenue for Q4 2025 was $16.7 million, up 38.1% from $12.1 million in Q4 2024, primarily due to nearly 50% growth in U.S. sales [5][7] - OEM revenue for Q4 2025 was approximately $2.5 million, reflecting a 15.6% increase from $2.1 million in Q4 2024 [5][6] - For the full year 2025, total revenue increased by 9.9% to $52.8 million compared to $48.1 million in 2024 [12][16] Profitability Metrics - Gross profit for Q4 2025 rose to $12.0 million, with a gross margin of 62.6%, slightly down from 63.0% in the prior year [8] - Adjusted EBITDA for Q4 2025 was $0.7 million, a significant improvement from an adjusted EBITDA loss of $2.2 million in Q4 2024 [11][34] - The net loss attributable to stockholders for Q4 2025 was $1.3 million, compared to a net loss of $4.6 million in Q4 2024 [10][34] Operating Expenses - Operating expenses remained flat at $12.0 million for Q4 2025, with minor fluctuations in various expense categories [9] - For the full year 2025, operating expenses decreased to $39.5 million from $48.2 million in 2024, driven by reductions in salaries, administrative, and research expenses [15] Market Position and Product Development - The AYON Body Contouring System, launched in September 2025, is expected to drive significant growth as awareness increases [3][4] - The company submitted a new 510(k) premarket notification to the FDA for AYON's label expansion to include power liposuction, with potential clearance anticipated in mid-2026 [5][21]