Apyx Medical reports Q4 EPS (28c), consensus (18c)

Reports Q4 revenue $14.7M, consensus $14.85M. Reports Advanced Energy revenue of $12.1 million, an increase of 15% year-over-year. “We generated double-digit growth in sales of our Advanced Energy products in the fourth quarter, driven by growth in global generator and handpiece sales of more than 25% and 10% year-over-year, respectively,” said Charlie Goodwin, President and Chief Executive Officer. “As previously reported, our Advanced Energy revenue fell short of our expectations, as the capital equipment purchasing environment proved to be more challenging than anticipated. Ultimately, we were pleased to return to double-digit revenue growth on a full year basis in 2023. In addition, we reduced our annual net loss attributable to stockholders and Adjusted EBITDA loss by 19% and 13%, respectively, and delivered a significant reduction in cash used in operations this year.”