APYX MEDICAL Reports Record Second Quarter Earnings for FY2023
August 18, 2023
🌥️Earnings Overview
APYX MEDICAL ($NASDAQ:APYX) released their earnings report for the second quarter of FY2023, ending June 30 2023, on August 10 2023. The total revenue earned was USD 13.6 million, a growth of 31.9% compared to the same period last year. Furthermore, the net income reported was USD -0.99 million, much better than the -5.43 million registered during the same quarter of the previous year.
Stock Price
APYX MEDICAL reported strong growth in its core product lines, with medical devices and software solutions continuing to perform well. Sales in the medical device segment increased substantially year-over-year, and the company has been able to capitalize on the trend of increased adoption of digital healthcare solutions. Furthermore, the company has also launched several new products, including a series of medical imaging and AI-based software solutions that are proving popular with customers. The company’s strong financial results were met with positive reactions from investors, who have responded favorably to the news.
With a strong focus on innovation and product development, APYX MEDICAL is well positioned to continue its rapid growth in the coming quarters and years. The company’s robust financial performance indicates that management is taking the right steps to ensure future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Apyx Medical. More…
| Total Revenues | Net Income | Net Margin |
| 47.44 | -16.29 | -39.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Apyx Medical. More…
| Operations | Investing | Financing |
| -16.62 | 6.67 | 8.28 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Apyx Medical. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 62.43 | 25.7 | 1.06 |
Key Ratios Snapshot
Some of the financial key ratios for Apyx Medical are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.4% | – | -37.2% |
| FCF Margin | ROE | ROA |
| -36.3% | -30.3% | -17.7% |
Analysis
GoodWhale has conducted an analysis of APYX MEDICAL‘s fundamentals. According to our Star Chart, APYX MEDICAL is classified as ‘rhino’, meaning it has achieved moderate revenue or earnings growth. It is strong in asset, medium in growth and weak in dividend, profitability. Given its intermediate health score of 4/10 considering its cashflows and debt, we believe APYX MEDICAL is likely to sustain future operations in times of crisis. That being said, the type of investors that might be interested in APYX MEDICAL would be those who value stability over aggressive growth and are looking to diversify their portfolio with a more reliable company. More…
Peers
The medical device industry is highly competitive, with Apyx Medical Corp competing against Therma Bright Inc, NeuroOne Medical Technologies Corp, and Brain Scientific Inc. All four companies are vying for a share of the market, with each company offering a unique product or service.
– Therma Bright Inc ($TSXV:THRM)
Therma Bright Inc is a medical device company that develops, manufactures, and markets LED-based therapies. Its products are used for the treatment of acne, psoriasis, and other skin conditions. The company has a market cap of 31.14M as of 2022 and a return on equity of -263.61%.
– NeuroOne Medical Technologies Corp ($NASDAQ:NMTC)
NeuroOne Medical Technologies Corp is a medical device company that develops and commercializes electrode technologies for the treatment of neurological disorders. The company has a market cap of 15.89M and a ROE of -59.33%. The company’s electrode technologies are based on a thin-film platform that is designed to provide superior performance and patient outcomes. The company’s products are used in a variety of neurosurgical procedures, including deep brain stimulation, epilepsy surgery, and neurostimulation.
– Brain Scientific Inc ($OTCPK:BRSF)
NeuroScientific Inc is a biotechnology company that focuses on the development and commercialization of drugs for the treatment of neurological disorders. The company has a market cap of 12.24M as of 2022 and a return on equity of 632.23%. NeuroScientific’s products are designed to target specific areas of the brain, which the company believes will lead to more effective treatments for neurological disorders. The company’s products are in various stages of development, and it has partnered with several major pharmaceutical companies to commercialize its products.
Summary
APYX MEDICAL reported their second quarter of FY2023 earnings results on August 10 2023, showing total revenue of USD 13.6 million, a 31.9% increase year over year. The net income was USD -0.99 million, an improvement from the -5.43 million reported for the same period last year. Despite these positive financial results, the stock price moved down the same day, indicating that investors are uncertain about the outlook of APYX MEDICAL. To gain more insights on the potential of the company, investors should take into account their financial performance, competitive landscape and potential growth opportunities.
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