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Apyx Medical Corp (APYX) stock

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NASDAQ: APYX Nasdaq Health Care Equipment Next results ~November 5, 2026

C+ Fundamentals grade

Apyx Medical Corp is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.6

Valuation models combined (3)

Base case. Range ~$0.9–$2.8. Weighted average of 3 models (growth cash-flow model, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Apyx Medical Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds33 adding, 32 cuttingOf 16 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Apyx Medical files

Where Apyx Medical stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $58m, up 25.6% on a year earlier, faster than the 18.2% growth a quarter earlier. Free-cash-flow margin rose to -18.9% from -21.6% a year earlier. Operating margin widened to -6.1% from -26.5%. The diluted share count is up 10.5% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $2.92 a share, against a share price of $2.52.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Apyx Medical Corp's trailing-twelve-month revenue grew 25.6% year on year, with a free-cash-flow margin of -18.9%. Where it stands out: change in growth rate of +7.4pp ranks 18 of 129 health care equipment companies we cover. Where it lags: long-term debt as % of assets of 57.8% ranks 79 of 87 health care equipment companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 10.1% while net income grew 50.0%: a 60pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 25.6% over the last 12 months, against a median of 9.1% for health care equipment companies we cover.
  • Growth speeding up. The growth rate is 7.4 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 20.4 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Loss-making. Operating margin is -6.1%: costs exceed revenue.
  • Burning cash. Free cash flow was -18.9% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 10.5% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 74% and a beta of 1.4 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 57.8% ranks 79 of 87 health care equipment companies we cover (median 24.2%).
  • Below peers: days sales outstanding. Days sales outstanding of 85 days ranks 99 of 118 health care equipment companies we cover (median 57 days).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.07 against an average estimate of -$0.08: beat by 14.6%
Revenue
$14m, up 22.1% on a year earlier
Share reaction
-2.2% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
total revenue $59m to $60m (year ending December 31, 2026); surgical Aesthetics revenue $54m to $55m (year ending December 31, 2026)
Next report
November 5, 2026; average EPS estimate -$0.09

Apyx Medical's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day0.0%
  • 1 week+5.7%
  • 1 month+2.0%
  • This year-25.7%
  • 1 year-14.2%
  • 5 years-82.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$58.4M
Operating margin
-6.1%
Net margin
-14.8%
EPS (TTM, diluted)
$-0.20

Growth

Revenue growth
+25.6%
Change in growth rate
+7.4 pts
Share count change
+10.5%

Cash

Free cash flow (TTM)
-$11M
FCF margin
-18.9%
Stock pay % of revenue
4.1%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Leadership
  3. Results
  4. Guidance
  5. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Apyx Medical Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Apyx Medical Corp as an operating company, with every model that fits that kind of business. Cost of equity 11.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.45 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.9 ~$0.5–$1.1 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.9 ~$2.1–$7.3 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$2.8 ~$2.1–$3.7 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.6 ~$0.9–$2.8 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Apyx Medical Corp with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2019202020212022202320242025Now
Share price$8.46$7.20$12.82$2.34$2.62$1.58$3.50$2.60
Market value$288m$246m$440m$81m$91m$56m$144m$111m
+ Net debt (− = net cash)−$59m−$42m−$31m−$10m−$6m$6m$6m$10m
Enterprise value$230m$204m$409m$71m$85m$62m$150m$121m
Multiples
Price / sales 10.2x8.9x9.1x1.8x1.7x1.2x2.7x1.9x
Price / earnings ————————
Price / free cash flow ————————
EV / EBITDA ————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

44 /100

Weak moat

How hard Apyx Medical's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Cash operating profit has been a median 12.6% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 64.3%, moving by 4.7 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -42.9%; its worst year was -96.5%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -25.3% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 24.4% over five years; stock-based pay has been a median 10.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $13m and EPS of −$0.09 (range −$0.13 to −$0.07) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.27 +2% $59m +12%
Next −$0.25 +5% $66m +11%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −5.4% on 90 days ago. In the last 30 days, 4 analysts raised Apyx Medical Corp's forecast and 0 cut it.

Consensus EPS forecast Apyx Medical Corp, last 90 days
−$0.30 −$0.20 −$0.10 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.28 Current fiscal year, 60 days ago: −$0.27 Current fiscal year, 30 days ago: −$0.27 Current fiscal year, 7 days ago: −$0.27 Current fiscal year, Now: −$0.27 −$0.27 Next fiscal year, 90 days ago: −$0.26 Next fiscal year, 60 days ago: −$0.25 Next fiscal year, 30 days ago: −$0.26 Next fiscal year, 7 days ago: −$0.26 Next fiscal year, Now: −$0.25 −$0.25

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.28−$0.26
60 days ago −$0.27−$0.25
30 days ago −$0.27−$0.26
7 days ago −$0.27−$0.26
Now −$0.27−$0.25

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.08 −$0.07 +14.6%
Mar 2026 −$0.11 −$0.05 +54.5%
Dec 2025 −$0.06 −$0.03 +46.4%
Sept 2025 −$0.10 −$0.05 +51.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Total revenue year ending December 31, 2026 $59m to $60m Maintained
    “Total revenue in the range of $59.0 million to $60.0 million, compared with $52.8 million reported for the year ended December 31, 2025.” source
  • Surgical Aesthetics revenue year ending December 31, 2026 $54m to $55m Maintained
    “Surgical Aesthetics revenue is expected to be in the range of $54.0 million to $55.0 million, compared with approximately $45.3 million reported for the year ended December 31, 2025.” source
  • OEM revenue year ending December 31, 2026 about $5m Maintained
    “OEM revenue is expected to be approximately $5.0 million, compared with approximately $7.5 million for the year ended December 31, 2025.” source
  • Operating expenses year ended December 31, 2026 — Maintained
    “Total Company continues to expect operating expenses of less than $45.0 million for the year ended December 31, 2026 .” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

6 analysts, Oct 2026
Buy6100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026246
  2. Sep 2026145
  3. Aug 2026145

Counts of recommendations published by analysts covering Apyx Medical Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.5%
of tradable shares
Days to cover
1.39
at average volume
Short interest, 1 month
−2%
to October 15, 2026
Held by institutions
50%
of shares
Held by insiders
13.5%
of shares
Employees
205
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −14.2%

$3.03 on October 31, 2025 to $2.60

ThenNowEffect
Revenue (last 12 months) $47m $58m +25.6%
P/S multiple 2.5x 1.9x −24.5%
Share count 39m 43m −9.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −0.8%

$2.62 on November 3, 2023 to $2.60

ThenNowEffect
Revenue (last 12 months) $47m $58m +23.1%
P/S multiple 1.9x 1.9x −0.7%
Share count 35m 43m −18.9%

Biggest factor: share count. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
APYX+78%−82%+12%−40%+122%−26%
Industry peers (median)−9%−37%−9%−19%−16%−13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
APYX58%33%58%33%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
APYX−30%−89%−80%−63%−49%−51%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since January 2, 2019: 95% from November 22, 2021 to April 8, 2025. Getting back needed a 1895% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.36 – $4.86
From 52-week high
−46.5%
vs 50-day average
−5.8%
vs 200-day average
−27.7%
Volatility (1 year)
74%
Beta vs S&P 500
1.41

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±11.9%
After a week
10 up, 2 down
typical move ±17.7%
After a month
9 up, 3 down
typical move ±25.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −2.2% +0.5% −26.6% −26.3%
May 7, 2026 +25.7% +0.5% +49.3% +63.4%
March 10, 2026 +14.6% −0.3% +9.0% +16.6%
January 12, 2026 +11.2% 0.0% +10.3% +12.3%
November 6, 2025 +23.2% −1.0% +29.6% +26.1%
August 7, 2025 +6.9% +0.7% +3.9% +1.0%
May 8, 2025 −7.2% +0.6% +18.4% +38.4%
March 13, 2025 −6.5% +0.7% +8.4% −10.5%
January 13, 2025 −10.1% +0.3% −3.8% −14.5%
November 8, 2024 +21.3% +0.5% +3.3% +50.8%
August 8, 2024 +3.0% +2.8% +36.6% +23.8%
May 9, 2024 +11.1% +0.7% +13.3% +18.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Apyx Medical Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Apyx Medical Corp
$45M $50M $55M $60M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $50.3M Revenue (TTM), FY23 Q4: $52.3M Revenue (TTM), FY24 Q1: $50.5M Revenue (TTM), FY24 Q2: $49M Revenue (TTM), FY24 Q3: $48.5M Revenue (TTM), FY24 Q4: $48.1M Revenue (TTM), FY25 Q1: $47.3M Revenue (TTM), FY25 Q2: $46.5M Revenue (TTM), FY25 Q3: $47.9M Revenue (TTM), FY25 Q4: $52.8M Revenue (TTM), FY26 Q1: $55.9M Revenue (TTM), FY26 Q2: $58.4M $58.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $50.3M
FY23 Q4 $52.3M
FY24 Q1 $50.5M
FY24 Q2 $49M
FY24 Q3 $48.5M
FY24 Q4 $48.1M
FY25 Q1 $47.3M
FY25 Q2 $46.5M
FY25 Q3 $47.9M
FY25 Q4 $52.8M
FY26 Q1 $55.9M
FY26 Q2 $58.4M
Revenue growth, TTM YoY Apyx Medical Corp
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 3.2% Revenue growth, TTM YoY, FY23 Q4: 17.6% Revenue growth, TTM YoY, FY24 Q1: 14.2% Revenue growth, TTM YoY, FY24 Q2: 3.4% Revenue growth, TTM YoY, FY24 Q3: -3.5% Revenue growth, TTM YoY, FY24 Q4: -8.1% Revenue growth, TTM YoY, FY25 Q1: -6.3% Revenue growth, TTM YoY, FY25 Q2: -5.1% Revenue growth, TTM YoY, FY25 Q3: -1.3% Revenue growth, TTM YoY, FY25 Q4: 9.9% Revenue growth, TTM YoY, FY26 Q1: 18.2% Revenue growth, TTM YoY, FY26 Q2: 25.6% 25.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 3.2%
FY23 Q4 17.6%
FY24 Q1 14.2%
FY24 Q2 3.4%
FY24 Q3 -3.5%
FY24 Q4 -8.1%
FY25 Q1 -6.3%
FY25 Q2 -5.1%
FY25 Q3 -1.3%
FY25 Q4 9.9%
FY26 Q1 18.2%
FY26 Q2 25.6%
Operating margin (TTM) Apyx Medical Corp
-60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -34.6% Operating margin (TTM), FY23 Q4: -33.0% Operating margin (TTM), FY24 Q1: -36.2% Operating margin (TTM), FY24 Q2: -46.0% Operating margin (TTM), FY24 Q3: -44.4% Operating margin (TTM), FY24 Q4: -39.2% Operating margin (TTM), FY25 Q1: -32.3% Operating margin (TTM), FY25 Q2: -26.5% Operating margin (TTM), FY25 Q3: -19.8% Operating margin (TTM), FY25 Q4: -12.2% Operating margin (TTM), FY26 Q1: -7.7% Operating margin (TTM), FY26 Q2: -6.1% -6.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -34.6%
FY23 Q4 -33.0%
FY24 Q1 -36.2%
FY24 Q2 -46.0%
FY24 Q3 -44.4%
FY24 Q4 -39.2%
FY25 Q1 -32.3%
FY25 Q2 -26.5%
FY25 Q3 -19.8%
FY25 Q4 -12.2%
FY26 Q1 -7.7%
FY26 Q2 -6.1%
FCF margin (TTM) Apyx Medical Corp
-40% -30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -16.2% FCF margin (TTM), FY23 Q4: -11.0% FCF margin (TTM), FY24 Q1: -20.2% FCF margin (TTM), FY24 Q2: -19.9% FCF margin (TTM), FY24 Q3: -36.9% FCF margin (TTM), FY24 Q4: -39.0% FCF margin (TTM), FY25 Q1: -27.8% FCF margin (TTM), FY25 Q2: -21.6% FCF margin (TTM), FY25 Q3: -19.8% FCF margin (TTM), FY25 Q4: -17.2% FCF margin (TTM), FY26 Q1: -16.1% FCF margin (TTM), FY26 Q2: -18.9% -18.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -16.2%
FY23 Q4 -11.0%
FY24 Q1 -20.2%
FY24 Q2 -19.9%
FY24 Q3 -36.9%
FY24 Q4 -39.0%
FY25 Q1 -27.8%
FY25 Q2 -21.6%
FY25 Q3 -19.8%
FY25 Q4 -17.2%
FY26 Q1 -16.1%
FY26 Q2 -18.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 27 24 25 28 24 28 30 9 10 17 28 28 49 45 52 48 53 58
Gross profit 12 10 11 11 9 9 13 5 7 11 19 18 34 29 34 29 33 37
EBITDA 1 −2 1 2 −3 −5 −6 −11 −13 −14 −20 −19 −14 −23 −17 −18 −6 −3
Operating income 1 −3 −0 1 −4 −6 −7 −11 −14 −14 −21 −20 −14 −24 −17 −19 −6 −4
Net income 1 −2 0 1 −4 −17 −5 −12 −5 63 −20 −12 −15 −23 −19 −23 −11 −9
Diluted EPS $0.03 −$0.09 $0.01 $0.03 −$0.40 −$1.03 $0.24 −$0.15 −$0.17 $1.83 −$0.58 −$0.35 −$0.44 −$0.67 −$0.54 — — −$0.20
Growth (year on year)
Revenue — −10.1% +4.9% +8.9% −14.5% +17.0% +6.6% −70.1% +16.0% +62.3% +70.0% −1.9% +75.1% −8.3% +17.6% −8.1% +9.9% +25.6%
EBITDA — −235.3% — +143.3% −258.8% — — — — — — — — — — — — —
Operating income — −484.9% — — −450.5% — — — — — — — — — — — — —
Net income — −357.6% — — −803.2% — — — — — −131.4% — — — — — — —
Diluted EPS — −400.0% — — <−999% — — — — — −131.7% — — — — — — —
Margins
Gross margin 44.0% 41.2% 42.2% 41.0% 38.9% 32.5% 42.5% 58.0% 68.0% 65.2% 67.6% 63.2% 69.3% 65.4% 64.5% 61.0% 62.5% 63.5%
EBITDA margin 5.5% −8.3% 2.9% 6.5% −12.0% −18.0% −20.9% −120.9% −128.9% −81.9% −71.2% −69.3% −27.9% −50.9% −31.6% −37.9% −11.0% −4.7%
Operating margin 2.7% −11.4% −0.1% 3.8% −15.5% −21.1% −23.7% −129.2% −135.7% −86.0% −73.9% −72.5% −29.8% −52.9% −33.0% −39.2% −12.2% −6.1%
Net margin 2.2% −6.3% 0.4% 2.2% −18.3% −62.4% −18.2% −131.0% −49.5% 377.7% −69.8% −42.9% −31.3% −52.1% −35.7% −48.8% −21.2% −14.8%
Free-cash-flow margin −9.5% −3.0% 5.3% −2.1% −13.2% −3.8% −21.0% −35.4% −42.3% −127.9% −70.0% −60.1% −23.0% −47.8% −11.0% −39.0% −17.2% −18.9%
Cash flow
Cash from operations −0 −1 2 0 −3 −0 −6 −3 −4 −21 −18 −16 −10 −20 −5 −18 −8 −10
Capital spending 2 0 1 1 1 1 0 0 1 0 1 1 1 1 1 1 1 1
Free cash flow −3 −1 1 −1 −3 −1 −6 −3 −4 −21 −20 −17 −11 −21 −6 −19 −9 −11
Stock-based pay 0 0 0 0 1 0 1 1 1 2 4 4 5 7 5 4 2 2
Free cash flow after stock pay −3 −1 1 −1 −4 −1 −7 −4 −5 −23 −23 −21 −16 −28 −11 −23 −11 −13
Balance sheet
Cash 2 4 5 4 8 6 12 14 10 17 59 42 31 10 44 32 32 28
Total debt 0 0 0 0 3 — 3 3 3 0 0 0 0 0 38 38 38 38
Net debt (negative = net cash) −2 −4 −5 −4 −5 −6 −9 −12 −7 −16 −59 −42 −31 −10 −6 6 6 10
Diluted shares 17m 17m 18m 18m 18m 18m 28m 27m 31m 34m 34m 34m 34m 35m 35m 36m 41m 43m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $61m
Short-term assets $53mLonger-term assets $8m
What it owes, and who funded it · $61m
Short-term liabilities $9mLonger-term liabilities $41mShareholders' equity $11m
  • Short-term assets cover short-term liabilities $53m of assets due within a year against $9m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $53m short-term assets against $41m of longer-dated liabilities.
  • More cash than debt $28m of cash against $35m of debt.
  • Debt below 40% of shareholders' equity Debt is 331% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$10m of operating cash flow against $35m of debt.
  • Operating profit covers interest at least five times over Operating income of −$4m against $6m of interest.

From Apyx Medical Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+10.5%
year over year
R&D spending
5.7%
of revenue
Sales & admin spending
29.3%
of revenue
Days sales outstanding
85 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated APYX LNSR CVRX APT IRIX SENS Median
Revenue, last 12 months $58m $60m $61m $62m $52m $49m $99m
Revenue growth, last 12 months 25.6% 3.3% 12.0% 5.7% 3.7% 90.6% 9.2%
Revenue growth, 3-year average 7.2% 16.4% 25.7% 2.9% −2.9% 38.0% 13.5%
Revenue growth, latest quarter 22.1% 18.4% 15.6% 12.0% −7.4% 117.8% 10.2%
Gross margin 63.5% 48.3% 86.9% 38.0% 35.9% 54.9% 61.2%
Operating margin −6.1% −13.5% −79.5% 7.5% −5.4% −223.2% −8.5%
Operating margin, 3-year average −26.2% −22.5% −99.3% 6.7% −11.3% −261.7% −17.9%
Net margin −14.8% 57.6% −84.9% 6.8% −6.9% −225.3% −12.0%
Cash from operations / revenue −17.3% −12.1% −66.1% 10.4% −3.4% −197.6% −1.9%
Free-cash-flow margin −18.9% −12.1% −67.1% 9.4% −3.9% −199.5% −3.9%
Free-cash-flow margin, 3-year average −20.1% −14.5% −75.1% 6.9% −9.1% −230.3% −7.0%
Stock pay / revenue 4.1% 4.6% 20.0% 0.9% 1.4% 23.2% 6.1%
Change in share count 10.5% 33.3% 5.8% −5.3% 3.3% −2.8% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 25.6% 9.1% 29 of 129
Change in growth rate Growth +7.4pp -0.6pp 18 of 129
Gross margin Profitability 63.5% 61.9% 56 of 123
Operating margin Profitability -6.1% -8.3% 61 of 132
Net margin Profitability -14.8% -12.0% 72 of 133
Free-cash-flow margin Cash generation -18.9% -3.4% 79 of 128
Stock pay as % of revenue Cash generation 4.1% 6.1% 53 of 123
Long-term debt as % of assets Balance sheet 57.8% 24.2% 79 of 87
Change in share count Balance sheet 10.5% 3.3% 84 of 115
Days sales outstanding Balance sheet 85 days 57 days 99 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Surgical Aesthetics $45.3M 85.8% ▲ 17.4%
Oem $7.5M 14.2% ▼ 20.9%
Geography
Region Revenue Share YoY
United States $38.8M 73.4% ▲ 14.0%
Outside the US $14M 26.6% ▼ 0.3%

From Apyx Medical Corp's 10-K filed March 10, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$109M
Institutions reporting
67
Shares held vs prior quarter
▲ 18.2%
Positions opened / closed
10 / 10

Top buyers and sellers, Q2 2026: 33 institutions bought and 32 sold ; the biggest buyer was Nantahala Capital Management, LLC (+3.1M shares) and the biggest seller Sei Investments Co (−317K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Nantahala Capital Management, LLC $29.4M 6.5M 27.0% ▲ 90.1%
Royce & Associates LP $14.7M 3.3M 13.5% ▲ 25.4%
Archon Capital Management LLC $11.9M 2.6M 10.9% ▼ 5.2%
Vanguard Capital Management LLC $6.9M 1.5M 6.3% ▼ 1.3%
Essex Investment Management Co LLC $5.1M 1.1M 4.7% ▲ 26.1%
Aigh Capital Management LLC $5.1M 1.1M 4.6% ▲ 2.1%
Silverberg Bernstein Capital Management LLC $4.7M 1.0M 4.3% ▼ 0.1%
Commonwealth Equity Services, LLC $2.9M 649K 2.7% 0.0%
Horizon Kinetics Asset Management LLC $2.6M 585K 2.4% ▼ 4.9%
Blackrock, Inc. $2.5M 561K 2.3% ▲ 6.3%
Renaissance Technologies LLC $2.5M 554K 2.3% ▲ 83.3%
Taylor Frigon Capital Management LLC $1.9M 414K 1.7% ▼ 0.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Apyx Medical Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 6, 2026
  • May 7, 2026
  • March 10, 2026
  • January 12, 2026
  • November 6, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Apyx Medical Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Apyx Medical Corp in brief

What does Apyx Medical Corp do?
Apyx Medical Corp is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Apyx Medical Corp's stock ticker?
Apyx Medical Corp trades under the ticker APYX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Apyx Medical Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Apyx Medical Corp reported revenue of $58.4M, 25.6% higher than a year earlier, according to its SEC filings.
What is Apyx Medical Corp's free cash flow?
Apyx Medical Corp's free-cash-flow margin is -18.9% of revenue over the trailing twelve months, ranking 79 of the 128 health care equipment companies we cover.
Who are Apyx Medical Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Nantahala Capital Management, LLC, Royce & Associates LP and Archon Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Apyx Medical Corp's market cap?
On November 2, 2026, Apyx Medical Corp's market capitalisation was about $111M and net debt of $9.9M. Market figures come from third-party market data and may be delayed.
How much debt does Apyx Medical Corp have?
Apyx Medical Corp's debt-to-equity ratio is 331.3%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Apyx Medical Corp's competitors?
In our Health Care Equipment peer group, the companies closest to Apyx Medical Corp are Lensar, Inc., Cvrx, Inc., Alpha PRO Tech LTD, Iridex Corp and Senseonics Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Apyx Medical Corp's.
When is Apyx Medical Corp's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Apyx Medical Corp announces its own schedule.