Apyx Medical(US:APYX)2020-11-18 10:28Company Overview - Apyx Medical Corporation, formerly Bovie Medical Corporation, focuses on Advanced Energy and OEM segments[6, 11, 15] - The company rebranded as Apyx Medical Corporation on January 1, 2019, following a transaction with Symmetry Surgical, Inc[6, 15] - As of September 30, 2020, the company had 264 full-time employees[12] - As of November 10, 2020, Apyx Medical had a market capitalization of approximately $243 million[13] Market Opportunity - The company estimates a $1.5+ billion potential market opportunity in the U S cosmetic surgery market[6, 18] - The generator market is estimated at ~$1.3 billion, while the handpiece market is estimated at ~$255 million annually[18] - Renuvion has a potential market of ~$170 million for subdermal coagulation following liposuction and ~$85 million for dermal skin resurfacing procedures[18] Financial Performance - Q3 2020 revenue was $6.954 million, a decrease of 8.2% year-over-year[46] - For the first nine months of 2020, revenue was $16.247 million, an 18.2% decrease year-over-year[46] - The company reported a net loss of $3.728 million for Q3 2020 and $10.369 million for the first nine months of 2020[59] - As of September 30, 2020, cash and cash equivalents totaled $43.539 million[52]