Apyx Medical ( (APYX) ) has released its Q4 earnings. Here is a breakdown of the information Apyx Medical presented to its investors.
Apyx Medical Corporation is an advanced energy technology company specializing in helium plasma and radiofrequency platform technology, marketed as Renuvion for cosmetic surgery and J-Plasma for hospital surgical applications. The company also collaborates with other medical device manufacturers through OEM agreements.
In its latest earnings report, Apyx Medical Corporation announced its financial results for the fourth quarter and full year of 2024, highlighting a significant increase in the shipment of single-use handpiece units and a strategic submission to the FDA for its AYON Body Contouring System. The company also reported a decrease in net loss and adjusted EBITDA loss compared to the previous year.
Key financial metrics from the report include a total revenue of $14.2 million for the fourth quarter of 2024, with Advanced Energy revenue showing a 30% increase from the previous quarter. Despite a decrease in OEM revenue, the company managed to reduce its net loss by 52% to $4.6 million. Apyx Medical also implemented a cost-saving restructuring program, resulting in significant operational savings.
Looking ahead, Apyx Medical is preparing for the launch of its AYON Body Contouring System in the latter half of 2025, pending FDA clearance. The company aims to capitalize on the growing demand in the aesthetics market and expects to maintain operating expenses below $40 million for 2025, as part of its strategic financial guidance.