Welcome to our dedicated page for Apyx Medical Corporation news (Ticker: APYX), a resource for investors and traders seeking the latest updates and insights on Apyx Medical Corporation stock.
Apyx Medical Corporation (NASDAQ: APYX) is a cutting-edge energy technology company that develops, manufactures, and markets advanced medical devices for the cosmetic and surgical markets globally. The company operates through two primary segments: Advanced Energy and Original Equipment Manufacturing (OEM).
Under the Renuvion brand, Apyx Medical offers proprietary helium plasma and radiofrequency technology, which is widely used in cosmetic surgery. This innovative technology provides surgeons with the ability to apply controlled heat to tissues, optimizing results in procedures such as body contouring and liposuction. The J-Plasma system, marketed for surgical applications within hospitals, minimizes unintended tissue trauma during surgical operations.
Recent achievements underline Apyx Medical's commitment to advancing medical technology. In the third quarter of 2023, the company reported a 31% year-over-year increase in total revenue, highlighted by a 39% increase in Advanced Energy sales. Significant strides were made in developing the Apyx One Generator and associated accessories, which have seen robust global demand.
From a financial perspective, Apyx Medical continues to strengthen its position. For the year ending December 31, 2023, the company secured a new five-year credit agreement with Perceptive Advisors, providing up to $45 million in capital. This new agreement enhances the company's financial flexibility and supports its growth strategy.
The company's OEM segment collaborates with other medical device manufacturers to design, develop, and produce electrosurgical generators and related accessories. This segment saw a 14% year-over-year growth in revenue during the first three quarters of 2023.
Apyx Medical remains focused on leveraging regulatory clearances and expanding its market reach. Noteworthy is its active participation in industry conferences, such as the American Academy of Cosmetic Surgery’s Annual Meeting, where it showcases its innovative products and clinical findings. The company continues to invest in research and development to enhance its product offerings, and is committed to maintaining rigorous safety and efficacy standards, supported by an extensive portfolio of clinical evidence.
In summary, Apyx Medical Corporation is at the forefront of medical energy technology, providing innovative solutions that elevate patient care in both cosmetic and surgical markets. With a robust financial outlook, strategic industry partnerships, and a continuous drive for product excellence, Apyx Medical is poised for sustained growth and market leadership.
Apyx Medical reported their first-quarter 2024 financial results with total revenue of $10.2 million, a 16% decrease year-over-year. The company reaffirmed its full-year 2024 financial outlook. The Advanced Energy segment revenue decreased by 23% while OEM segment revenue increased by 14%. Net loss attributable to stockholders increased by 118% year-over-year. The company announced various developments post quarter-end, including new data and treatment insights showcased at the Renuvion Users' Summit. Management reaffirmed the 2024 financial guidance, focusing on leveraging new clinical indications and products to drive market awareness.
Apyx Medical announced the retirement of Andrew Makrides as Chairman of the Board, who served the company since 1982, and the appointment of Stavros Vizirgianakis as the new Chairman. Makrides contributed to the company's growth over the years, while Vizirgianakis brings extensive medical device industry experience to the role.
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