APYX

MKT CAP:$157M

Apyx Medical Corporation

Market Cap

$157M

Healthcare·Medical - Devices·🇺🇸 United States·NASDAQ

Healthcare·Medical - Devices·🇺🇸·NASDAQ

Stock Price

$3.80+$0.30 (+8.57%)

Apr 23, 2026

Company Details

Apyx Medical Corporation, an energy technology company, develops, manufactures, and sells medical devices in the cosmetic and surgical markets worldwide. The company operates in two segments, Advanced Energy and Original Equipment Manufactu...

CEO

Charles D. Goodwin

IPO Date

Jan 2, 2019

Website

www.apyxmedical.com

Key Metrics TTM

Revenue

$45M

-10.7% YoY

Net Income

-$20M

EPS (Diluted)

-$0.58

Free Cash Flow

-$16M

Revenue / Share

$1.10

Gross Margin

50.8%

Operating Margin

-35.9%

Net Margin

-45.3%

FCF Margin

-35.4%

P/S

3.5x

P/E

—

Earnings Reports

Q4 2025

May 14, 2026

PENDING

Q3 2025

Nov 6, 2025

$13MEPS -$0.05

Q1 2025

May 8, 2025

$9M-7.9%EPS -$0.12

FY 2024

Mar 13, 2025

$48MEPS -$0.66

Q2 2024

Aug 8, 2024

$12MEPS -$0.19

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$5M	$3M	-$7M
Q2 20	$4M	$2M	-$6M
Q3 20	$7M	$5M	-$4M
Q4 20	$11M	$8M	-$2M
Q1 21	$9M	$6M	-$5M
Q2 21	$11M	$8M	-$4M
Q3 21	$12M	$8M	-$4M
Q4 21	$17M	$12M	-$2M
Q1 22	$12M	$8M	-$6M
Q2 22	$10M	$7M	-$6M
Q4 22	$13M	$8M	-$6M
Q4 23	$15M	$4M	-$6M
Q1 24	$10M	$6M	-$7M
Q2 24	$12M	$3M	-$6M
Q1 25	$9M	$6M	-$3M
Q3 25	$13M	$8M	-$832.0K

Valuation

Quarter	P/S	P/E
Q1 20	5.2x	—
Q2 20	8.4x	—
Q3 20	7.4x	—
Q4 20	8.8x	—
Q1 21	10.6x	—
Q2 21	9.4x	—
Q3 21	11.0x	—
Q4 21	9.3x	—
Q1 22	4.1x	—
Q2 22	4.0x	—
Q4 22	1.6x	—
Q4 23	1.7x	—
Q1 24	1.0x	—
Q2 24	0.9x	—
Q1 25	1.1x	—
Q3 25	2.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	-$7M	-$7M
Q2 20	-$5M	-$5M
Q3 20	-$3M	-$3M
Q4 20	-$1M	-$1M
Q1 21	-$2M	-$2M
Q2 21	-$5M	-$5M
Q3 21	-$4M	-$4M
Q4 21	$214.0K	-$118.0K
Q1 22	-$5M	-$5M
Q2 22	-$6M	-$6M
Q4 22	-$5M	-$5M
Q4 23	-$458.0K	-$551.0K
Q1 24	-$6M	-$6M
Q2 24	-$4M	-$5M
Q1 25	-$702.0K	-$757.0K
Q3 25	-$4M	-$4M

Capital Expenditures

Quarter	CapEx
Q1 20	$90.0K
Q2 20	$94.0K
Q3 20	$9.0K
Q4 20	$388.0K
Q1 21	$192.0K
Q2 21	$29.0K
Q3 21	$170.0K
Q4 21	$332.0K
Q1 22	$279.0K
Q2 22	$401.0K
Q4 22	$142.0K
Q4 23	$93.0K
Q1 24	$35.0K
Q2 24	$289.0K
Q1 25	$55.0K
Q3 25	$519.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 20	+36.1%	+93.1%
Q2 20	-27.5%	-5.5%
Q3 20	+19.4%	+2.7%
Q4 20	+74.5%	+22.5%
Q1 21	+72.9%	+7.2%
Q2 21	+161.3%	+45.9%
Q3 21	+70.1%	+39.5%
Q4 21	+46.8%	+37.0%
Q1 22	+44.6%	+37.2%
Q2 22	-8.3%	+6.6%
Q4 22	+6.6%	+17.4%
Q4 23	-12.9%	+10.4%
Q1 24	-18.0%	-8.2%
Q2 24	+18.0%	+8.8%
Q1 25	-25.2%	-32.7%
Q3 25	-12.2%	-32.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$1M	21.0%
Q2 20	$1M	25.5%
Q3 20	$1M	15.3%
Q4 20	$1M	8.7%
Q1 21	$1M	13.8%
Q2 21	$1M	12.2%
Q3 21	$1M	10.0%
Q4 21	$1M	8.0%
Q1 22	$2M	13.2%
Q2 22	$2M	16.7%
Q4 22	$2M	13.0%
Q4 23	$914.0K	6.2%
Q1 24	$1M	11.0%
Q2 24	$1M	8.6%
Q1 25	$451.0K	4.8%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 20	$980.0K	$9M	—
Q2 20	$975.0K	$7M	—
Q3 20	$1M	$8M	—
Q4 20	$918.0K	$9M	—
Q1 21	$1M	$9M	—
Q2 21	$1M	$10M	—
Q3 21	$1M	$11M	—
Q4 21	$947.0K	$13M	—
Q1 22	$1M	$13M	—
Q2 22	$1M	$12M	—
Q4 22	$1M	$13M	—
Q4 23	$1M	$13M	—
Q1 24	$1M	$11M	—
Q2 24	$1M	$12M	—
Q1 25	$804.0K	$8M	—
Q3 25	$801.0K	$1M	$7M

Revenue Segments

Quarter	Advanced Energy	Oem
Q1 20	$4M	$1M
Q2 20	$3M	$1M
Q3 20	$5M	$1M
Q4 20	$10M	$2M
Q1 21	$8M	$978.0K
Q2 21	$10M	$1M
Q3 21	$10M	$2M
Q4 21	$15M	$2M
Q1 22	$11M	$2M
Q2 22	$8M	$2M
Q4 22	$11M	$2M
Q4 23	$12M	$3M
Q1 24	$7M	$3M
Q2 24	$10M	$2M
Q1 25	$8M	$2M

Revenue by Geography

Quarter	Non-US	United States
Q1 20	$1M	$4M
Q2 20	$903.0K	$3M
Q3 20	$2M	$5M
Q4 20	$5M	$7M
Q1 21	$3M	$6M
Q2 21	$4M	$7M
Q3 21	$4M	$8M
Q4 21	$5M	$12M
Q1 22	$5M	$8M
Q2 22	$2M	$8M
Q4 22	$4M	$9M
Q4 23	$4M	$11M
Q1 24	$3M	$7M
Q2 24	$3M	$9M
Q1 25	$3M	$7M
Q3 25	$4M	$9M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$26M	$0	$26M
Q2 22	$20M	$0	$20M
Q3 22	$15M	$0	$15M
Q4 22	$10M	$0	$10M
Q1 23	$16M	$0	$16M
Q2 23	$18M	$0	$18M
Q3 23	$22M	$0	$22M
Q4 23	$44M	$0	$44M
Q1 24	$37M	$0	$37M
Q2 24	$33M	$0	$33M
Q3 24	$28M	$0	$28M
Q4 24	$32M	$0	$32M
Q1 25	$31M	$0	$31M
Q2 25	$29M	$0	$29M
Q3 25	$25M	$0	$25M
Q4 25	$32M	$0	$32M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	34M	+2.4%	-2.2%
Q2 20	34M	+0.0%	+1.5%
Q3 20	34M	+0.1%	+2.6%
Q4 20	34M	+0.2%	+2.7%
Q1 21	34M	+0.1%	+0.4%
Q2 21	34M	+0.1%	+0.4%
Q3 21	34M	+0.0%	+0.3%
Q4 21	34M	+0.1%	+0.3%
Q1 22	34M	+0.2%	+0.4%
Q2 22	34M	+0.1%	+0.4%
Q4 22	35M	+0.4%	+0.8%
Q4 23	35M	+0.1%	+0.8%
Q1 24	35M	0.0%	+0.6%
Q2 24	35M	0.0%	+0.5%
Q1 25	36M	+2.6%	+2.7%
Q3 25	41M	+14.6%	+17.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 20	$18.8K	266
Q2 20	$16.2K	266
Q3 20	$26.1K	266
Q4 20	$43.1K	266
Q1 21	$32.5K	266
Q2 21	$42.2K	266
Q3 21	$44.5K	266
Q4 21	$61.9K	272
Q1 22	$45.9K	272
Q2 22	$37.8K	272
Q4 22	$18.0K	700
Q4 23	$20.9K	700
Q1 24	$14.6K	700
Q2 24	$17.4K	700
Q1 25	$13.5K	700
Q3 25	$18.4K	700

Revenue / Employee