Core Viewpoint - Apyx Medical Corporation has announced a public offering of 2,762,431 shares of its common stock at a price of $3.62 per share, with the offering expected to close on or about November 19, 2025 [1][2]. Group 1: Offering Details - The offering is underwritten by Lucid Capital Markets, which is acting as the sole book-running manager [2]. - The company has granted the underwriter a 45-day option to purchase an additional 414,365 shares at the public offering price [2]. - The net proceeds from the offering will be used for working capital and general corporate purposes [3]. Group 2: Regulatory and Documentation - The offering is made pursuant to a shelf registration statement filed with the SEC, which was declared effective on December 2, 2022 [3]. - A preliminary prospectus supplement and accompanying prospectus have been filed with the SEC and are available on their website [4]. Group 3: Company Overview - Apyx Medical Corporation specializes in surgical aesthetics, offering products like Renuvion and the AYON Body Contouring System, which provide innovative solutions in cosmetic surgery [6]. - The company’s technologies, including Helium Plasma Platform Technology, are supported by over 90 clinical documents, demonstrating their effectiveness [6]. - The AYON Body Contouring System is FDA-cleared and designed to integrate multiple surgical capabilities, enhancing the treatment options available to surgeons [6].

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 increased by 12% to $12.9 million compared to $11.5 million in the same period last year [5][16] - Gross profit for Q3 2025 increased to $8.3 million, with a gross profit margin of 64.4%, up from 60.5% in the prior year [17][19] - Net loss attributable to stockholders decreased to $2 million, or $0.05 per share, compared to $4.7 million, or $0.14 per share in the prior year [19] Business Line Data and Key Metrics Changes - Revenue from the Surgical Aesthetics segment increased by 19% to $11.1 million, driven by the AYON Body Contouring System launch and increased sales of single-use handpieces [5][16] - OEM revenue decreased by 18% to $1.8 million, attributed to reduced sales volumes to existing customers [7][17] Market Data and Key Metrics Changes - Domestic revenue increased by 20% year-over-year to $9.3 million, while international revenue decreased by 4% to $3.5 million [17] - The company noted that the medical device industry typically experiences seasonality, with revenue trends generally lowest in the first and third quarters [17] Company Strategy and Development Direction - The company announced the rebranding of its Advanced Energy segment to Surgical Aesthetics to better align with its mission and product offerings [5] - The focus has shifted towards the Surgical Aesthetics segment, particularly the AYON launch, which is seen as the future of the company [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market's response to AYON, highlighting strong pre-sales and initial deliveries [6][15] - The company anticipates continued growth driven by the increasing adoption of GLP-1 medications, which create a demand for body contouring solutions [12][34] Other Important Information - The company has successfully reduced operating expenses to $9.1 million for Q3 2025, down from $10.6 million in the prior year [18] - Cash used in operating activities decreased to $3.5 million for Q3 2025, compared to $4.4 million in the prior year [19][20] Summary of Q&A Session Question: Clarification on generator sales decline - Management clarified that the decline in generator sales is due to customers integrating existing generators with AYON, rather than purchasing new generators [25][26] Question: Gross margin impact and future guidance - Management refrained from providing specific guidance on gross margins but indicated that the Surgical Aesthetics business typically has the highest gross margins [27][29] Question: Expectations for consumables uptake - Management noted that the greatest driver of consumable sales will come from new customers adopting Renuvion technology [32] Question: Market demand trends and GLP-1 dynamics - Management stated that the market is being disrupted by GLP-1 drugs, with a significant percentage of patients being new to aesthetics [34][35] Question: Growth in single-use handpieces - Management indicated that growth in handpieces is driven by new doctors adopting the technology and higher attach rates for Renuvion [39] Question: Pipeline growth and installation processes - Management confirmed an increase in guidance for Surgical Aesthetics and highlighted the effective management of supply chain and installations [45][46] Question: International rollout of AYON - Management discussed plans for international registration of AYON, with a focus on Europe and other regions in the future [48][49]

Core Insights - Apyx Medical Corporation reported a 19% increase in Surgical Aesthetics revenue for Q3 2025, driven by the successful commercialization of the AYON Body Contouring System [3][9] - The company anticipates further growth in sales following the pending FDA clearance for the AYON's label expansion to include power liposuction [4][7] - Total revenue for Q3 2025 reached $12.9 million, a 12.1% increase compared to $11.5 million in the same period last year [7][9] Financial Performance - Surgical Aesthetics revenue for Q3 2025 was $11.1 million, up from $9.3 million in Q3 2024, reflecting a 19% increase [9][10] - OEM revenue decreased by 18% to approximately $1.8 million in Q3 2025 compared to $2.2 million in Q3 2024 [7][9] - Gross profit for Q3 2025 increased to $8.3 million, with a gross margin of 64.4%, up from 60.5% in the prior year [10][12] Operating Expenses and Losses - Operating expenses decreased by $1.5 million to $9.1 million in Q3 2025 compared to $10.6 million in Q3 2024 [11] - Net loss attributable to stockholders was $2.0 million in Q3 2025, an improvement from a net loss of $4.7 million in Q3 2024 [12][24] - Adjusted EBITDA loss decreased significantly to $0.1 million for Q3 2025, compared to $2.4 million for the same period in 2024 [13][31] Future Outlook - The company raised its total revenue guidance for FY2025 to a range of $50.5 million to $52.5 million, up from the previous guidance of $50.0 million to $52.0 million [6][20] - Surgical Aesthetics revenue is expected to be between $43.0 million and $45.0 million for FY2025, compared to approximately $38.6 million reported for FY2024 [20] - The company plans to continue expanding the user base for AYON, which is expected to drive growth in single-use handpiece sales [4][6]

Core Insights - Apyx Medical Corporation has launched Renuvion in China, marking a significant step in its global expansion strategy [2][3] - The company has entered into a distribution agreement with GlamMoon Medical Technology, a division of BeauCare Clinics Investment Co., Ltd., to facilitate the sales and marketing of Renuvion in the Chinese market [1][2] - Initial market clearance has been received from the National Medical Products Administration of China, indicating regulatory approval for the product [1] Company Overview - Apyx Medical Corporation specializes in advanced energy technology, focusing on innovative products such as Renuvion and J-Plasma, which provide controlled heat to tissue for surgical applications [3] - The effectiveness of Renuvion and J-Plasma is supported by over 90 clinical documents, showcasing the company's commitment to clinical validation [3] Partner Overview - BeauCare Clinics Investment Co., Ltd. (BCC) is a leading player in China's medical aesthetics industry, operating over 60 medical aesthetics hospitals and clinics across 15 cities [4] - BCC has established a strong supply chain and a group purchasing alliance with over 400 members, enhancing its market position in the medical aesthetics sector [4]

Core Insights - Apyx Medical Corporation reported a total revenue of $9.4 million for Q1 2025, a decrease from $10.2 million in the same period last year, primarily due to a significant drop in OEM revenue [5][7] - The Advanced Energy segment saw a 6% increase in revenue to $7.9 million, driven by strong sales of generator units and single-use handpieces [4][5] - The company is preparing to launch the AYON Body Contouring System in the second half of 2025, pending FDA clearance, which is expected to enhance its market position in surgical aesthetics [3][5] Financial Performance - Total revenue decreased by 8% year-over-year, with Advanced Energy revenue increasing by 6% while OEM revenue fell by 45% [5][7] - Gross profit for Q1 2025 was $5.7 million, with a gross profit margin of 60%, up from 58% in the prior year [8] - Operating expenses decreased significantly by $3.8 million to $8.7 million, reflecting cost-cutting measures implemented in the previous quarter [9] Loss and Adjusted EBITDA - The net loss attributable to stockholders decreased by 45% to $4.2 million, or $0.10 per share, compared to a loss of $7.6 million, or $0.22 per share, in Q1 2024 [11][20] - Adjusted EBITDA loss improved to $2.4 million from $5.3 million in the prior year, indicating better operational efficiency [11][26] Market Position and Strategy - Renuvion, the company's flagship product, was awarded the 2025 NewBeauty Award for "Best Minimally Invasive Skin Tightener," highlighting its growing recognition in the market [5][11] - The company aims to capitalize on the increasing demand for aesthetic procedures, particularly among patients using GLP-1 drugs for weight loss [3][5] - Apyx Medical's management expressed confidence in the company's path to profitability following recent restructuring and cost management efforts [6][9]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $14.2 million, a decrease of 3% compared to $14.7 million in Q4 2023 [7][23] - Gross profit for Q4 2024 increased to $9 million, with a gross profit margin of 63.0%, up from 60.9% in the prior year [25] - Net loss attributable to stockholders was $4.6 million or $0.12 per share for Q4 2024, compared to a net loss of $9.6 million or $0.28 per share in Q4 2023 [28] Business Segment Data and Key Metrics Changes - Advanced Energy segment revenue was flat at approximately $12.1 million, with a 30% increase compared to Q3 2024 [8][24] - OEM segment sales decreased by 16% to approximately $1.6 million in Q4 2024 compared to Q4 2023 [24] - Domestic revenue increased by 1% year-over-year to $10.6 million, while international revenue decreased by 8% to $3.7 million [25] Market Data and Key Metrics Changes - The aesthetic market has faced challenges due to the macroeconomic environment and the adoption of GLP-1 drugs, which have diverted discretionary spending [9][10] - The company believes that patients who have lost weight due to GLP-1 drugs will seek surgical solutions, positioning the Renuvion system favorably [11][12] Company Strategy and Development Direction - The company is focusing on the launch of the AYON Body Contouring System, expected in the second half of 2025, which integrates multiple surgical technologies [16][18] - Apyx Medical aims to capitalize on the growing demand for surgical aesthetics, particularly for patients experiencing skin laxity after significant weight loss [12][60] - A restructuring program was implemented to reduce U.S. workforce by nearly 25%, aiming for annualized cost savings of approximately $4.3 million [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum in the Advanced Energy segment and the potential for growth in 2025 [8][9] - The company anticipates total revenue for 2025 to be in the range of $47.6 million to $49.0 million, reflecting a slight increase from 2024 [30] - Management noted that the aesthetic space is experiencing disruption due to the impact of GLP-1 drugs, which could benefit companies with the right technologies [62] Other Important Information - The company completed a registered direct offering with net proceeds of approximately $6.8 million to strengthen its balance sheet [21] - Cash and cash equivalents as of December 31, 2024, were $31.7 million, down from $43.7 million a year earlier [29] Q&A Session Summary Question: Confirmation of gross margin for 2025 - Management confirmed that they expect gross margins to be around 60% for 2025 [34][35] Question: Timing and revenue expectations for AYON - Management indicated that the guidance for AYON has not been updated despite the earlier submission for FDA approval, and revenue expectations remain conservative [40][41] Question: Changes in direct-to-consumer campaign and future outlook - Management highlighted the success of the DTC campaign and the importance of addressing the needs of patients experiencing skin laxity due to weight loss [50][52] Question: Domestic vs. international market performance - Management noted that the U.S. market is performing better due to early adoption of GLP-1 drugs, with expectations for similar trends internationally [56][58] Question: Adoption of GLP-1s and utilization of Renuvion - Management reported growth in handpiece sales in the U.S. and noted that surgical practices are adapting to treat patients with skin laxity effectively [66][70] Question: Upgrades for the Apyx One Console - Management stated that there is still a significant number of customers who need to upgrade to the Apyx One Console before AYON's launch [72][75]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $14.2 million, a slight decrease of 3% compared to $14.7 million in Q4 2023 [7][23] - Gross profit for Q4 2024 increased to $9 million, with a gross profit margin of 63.0%, up from 60.9% in the prior year [25] - Net loss attributable to stockholders was $4.6 million or $0.12 per share for Q4 2024, compared to $9.6 million or $0.28 per share in Q4 2023 [28] Business Segment Data and Key Metrics Changes - Advanced Energy segment revenue was flat at approximately $12.1 million, with a 30% growth compared to Q3 2024 [8][24] - OEM segment sales decreased by 16% to approximately $1.6 million in Q4 2024 compared to Q4 2023 [24] - Domestic revenue increased by 1% year-over-year to $10.6 million, while international revenue decreased by 8% to $3.7 million [25] Market Data and Key Metrics Changes - The aesthetic market has faced softness due to macroeconomic factors and the adoption of GLP-1 drugs, which have diverted discretionary spending [9][10] - The company anticipates a surge in demand for surgical solutions as patients who have lost weight from GLP-1 drugs seek treatments for loose skin [11][12] Company Strategy and Development Direction - The company is focusing on the launch of the AYON Body Contouring System, expected in the second half of 2025, which integrates multiple surgical technologies [16][18] - Apyx Medical aims to position itself as a leader in surgical aesthetics, leveraging its proprietary technology and direct-to-consumer marketing strategies [12][15] Management's Comments on Operating Environment and Future Outlook - Management noted that the aesthetic space is undergoing significant changes due to the impact of GLP-1 drugs, which have disrupted traditional non-invasive procedures [61][62] - The company believes that its Renuvion system is uniquely positioned to meet the needs of patients post-weight loss, and it expects to see growth in surgical procedures as a result [11][12] Other Important Information - A restructuring program was implemented, reducing the U.S. workforce by nearly 25%, expected to yield annualized cost savings of approximately $4.3 million [20][21] - The company completed a registered direct offering with net proceeds of approximately $6.8 million to strengthen its balance sheet [21] Q&A Session Summary Question: Confirmation of gross margin for 2025 - Management confirmed that they expect gross margins to be around 60% for 2025, similar to 2024 [35][37] Question: Timing and revenue expectations for AYON - Management indicated that the guidance for AYON has not been updated despite the earlier submission for FDA approval, and revenue expectations remain conservative [40][42] Question: Success of direct-to-consumer campaign - Management highlighted that the direct-to-consumer campaign has significantly exceeded expectations, driven by the unique needs of patients experiencing skin laxity post-weight loss [52][53] Question: Domestic vs. international market performance - Management noted that the U.S. market is performing better due to early adoption of GLP-1 drugs, and they expect similar trends to emerge internationally [56][58] Question: Adoption of GLP-1s and utilization of Renuvion - Management reported growth in handpiece sales in the U.S. and noted that surgical practices are adapting to meet the needs of patients with skin laxity [67][70] Question: Upgrades for the Apyx One Console - Management stated that there is still a significant number of customers who need to upgrade to the Apyx One Console, and they plan to offer special pricing for existing customers [75]