A
Apyx Medical Corp
APYXCIK 0000719135NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-11.21M
Total Assets
$66.84M
Equity
$14.54M
Shares Out
41.83M
Op. Cash Flow
$-8.00M
Business
Apyx Medical Corp is an advanced energy technology company that develops and commercializes helium plasma energy systems for surgical and aesthetic procedures. Its main products and technologies include the Renuvion and J‑Plasma helium plasma platforms, the Apyx One electrosurgical console, single‑use handpieces, and the AYON body contouring system integrating liposuction, aspiration, ultrasound‑assistance, electrocoagulation and volume enhancement modalities. The company operates through two reportable segments: Advanced Energy (proprietary clinical products) and OEM (development and contract manufacturing for other device makers). It sells directly to U.S. physicians and surgical centers and through an international distributor network, with manufacturing and development operations in multiple countries.
Summary from filing dated 2025-03-13
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Sales, net | 53 | 48 | 52 | — | — | |
| Cost of sales | 20 | 19 | 19 | 15 | 15 | |
| Gross profit | 33 | 29 | 34 | 29 | 34 | |
| Research and development | 3 | 5 | 5 | 5 | 4 | |
| Professional services | 6 | 7 | 7 | 9 | 8 | |
| Salaries and related costs | 14 | 17 | 19 | — | — | |
| Selling, general and administrative | 16 | 19 | 22 | 20 | 19 | |
| Total other costs and expenses | 39 | 48 | 54 | 53 | 48 | |
| Loss from operations | −6 | −19 | −17 | −24 | −14 | |
| Interest income | 1 | 2 | 921,000 | — | — | |
| Interest expense | −6 | −6 | −2 | — | — | |
| Other Operating Income (Expense), Net | 92,000 | −161,000 | 622,000 | 509,000 | −373,000 | |
| Total other expense, net | −4 | −4 | −4 | — | — | |
| Loss before income taxes | −11 | −23 | −21 | −23 | −15 | |
| Income tax expense | 270,000 | 252,000 | −2 | 367,000 | 380,000 | |
| Net loss | −11 | −24 | −19 | −23 | −15 | |
| Net loss attributable to non-controlling interest | 106,000 | −96,000 | −137,000 | −94,000 | −28,000 | |
| Net loss attributable to stockholders | −11 | −23 | −19 | −23 | −15 | |
| Basic and diluted (in dollars per share) | −0.27 | −0.66 | −0.54 | −0.67 | −0.44 | |
| Weighted average number of shares outstanding - basic and diluted (in shares) | 41 | 36 | 35 | 35 | 34 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 32 | 32 | 44 | 10 | 31 | |
| Trade accounts receivable, net of allowance of $1,020 and $1,000 | 17 | 15 | 14 | 11 | 13 | |
| Inventories, net of provision for obsolescence of $1,207 and $1,032 | 9 | 8 | 10 | 12 | 7 | |
| Prepaid expenses and other current assets | 1 | 2 | 3 | 3 | 2 | |
| Total current assets | 58 | 56 | 70 | 43 | 61 | |
| Property and equipment, net | 2 | 2 | 2 | 7 | 7 | |
| Operating lease right-of-use assets | 4 | 5 | 5 | 710,000 | 121,000 | |
| Finance lease right-of-use assets | 28,000 | 48,000 | 69,000 | 115,000 | 178,000 | |
| Other assets | 2 | 2 | 2 | 1 | 1 | |
| Total assets | 67 | 65 | 79 | 52 | 69 | |
| Accounts payable | 3 | 3 | 3 | 3 | 3 | |
| Accrued expenses and other current liabilities | 8 | 8 | 10 | 9 | — | |
| Current portion of operating lease liabilities | 407,000 | 335,000 | 347,000 | 216,000 | 122,000 | |
| Current portion of finance lease liabilities | 21,000 | 20,000 | 20,000 | 37,000 | 165,000 | |
| Total current liabilities | 12 | 11 | 13 | 12 | 13 | |
| Long-term debt, net of debt discounts and issuance costs | 35 | 34 | 33 | 0 | — | |
| Long-term operating lease liabilities | 4 | 4 | 5 | 470,000 | 0 | |
| Long-term finance lease liabilities | 12,000 | 33,000 | 53,000 | 73,000 | 18,000 | |
| Long-term contract liabilities | 1 | 1 | 1 | 1 | 1 | |
| Other liabilities | 347,000 | 259,000 | 198,000 | 181,000 | 166,000 | |
| Total liabilities | 52 | 51 | 52 | 14 | 15 | |
| Commitments and Contingencies (Note 17) | — | — | — | — | — | |
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 issued and outstanding as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.001 par value; 75,000,000 shares authorized; 41,785,946 issued and outstanding as of December 31, 2025, and 37,793,886 issued and outstanding as of December 31, 2024 | 42,000 | 38,000 | 35,000 | 35,000 | 34,000 | |
| Additional paid-in capital | 104 | 92 | 81 | 73 | 66 | |
| Accumulated deficit | −89 | −78 | −54 | −36 | −13 | |
| Total stockholders equity | 15 | 14 | 27 | 38 | 54 | |
| Non-controlling interest | 291,000 | 125,000 | 221,000 | 211,000 | 305,000 | |
| Total equity | 15 | 14 | 27 | 38 | 54 | |
| Total liabilities and equity | 67 | 65 | 79 | 52 | 69 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 655,000 | 599,000 | 692,000 | 890,000 | 903,000 | |
| Provision for inventory obsolescence | 341,000 | 163,000 | 523,000 | — | — | |
| Provision for product warranties | 214,000 | 304,000 | 261,000 | — | 318,000 | |
| Loss on disposal of property and equipment | 19,000 | 13,000 | −3 | 75,000 | — | |
| Stock based compensation | 2 | 4 | 5 | 7 | 5 | |
| Allowance for credit losses | 423,000 | 396,000 | 279,000 | 315,000 | 128,000 | |
| Non-cash lease expense | 86,000 | 112,000 | 87,000 | — | — | |
| Non-cash interest expense | 956,000 | 1 | 545,000 | — | — | |
| Trade receivables | −1 | −2 | −4 | 2 | −5 | |
| Prepaid expenses and other assets | 237,000 | 857,000 | −188,000 | −523,000 | 1 | |
| Inventories | −1 | 2 | 1 | −6 | −3 | |
| Accounts payable | 355,000 | −63,000 | 25,000 | 67,000 | 1 | |
| Accrued and other liabilities | 209,000 | −2 | 276,000 | −1 | 3 | |
| Net cash used in operating activities | −8 | −18 | −5 | −20 | −10 | |
| Purchases of property and equipment | −1 | −722,000 | −533,000 | −1 | −723,000 | |
| Net cash used in investing activities | −1 | −722,000 | 7 | −1 | −723,000 | |
| Proceeds from stock option exercises | 488,000 | 0 | 86,000 | 365,000 | — | |
| Proceeds from capital raise | 9 | 7 | — | — | — | |
| Payment of direct incremental costs in capital raise | −248,000 | −224,000 | — | — | — | |
| Payment of debt costs | 0 | −11,000 | −3 | 0 | — | |
| Repayment of finance lease liabilities | −20,000 | −20,000 | −37,000 | −148,000 | — | |
| Contributions from non-controlling interest | 60,000 | 0 | 147,000 | 0 | 195,000 | |
| Net cash provided by financing activities | 10 | 7 | 32 | 217,000 | 24,000 | |
| Net change in cash and cash equivalents | −1,000 | −12 | 33 | −21 | −11 | |
| Effect of exchange rates on cash | −466,000 | 113,000 | — | — | — | |
| Interest | 5 | 5 | 2 | 15,000 | 10,000 | |
| Income taxes | 258,000 | 382,000 | 329,000 | — | — | |
| Fair value of common stock issued in debt amendment | 0 | 183,000 | 0 | — | — | |
| Transfer of machinery and equipment to inventory | 78,000 | 62,000 | 0 | — | — |
Filings
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