Apyx Medical (APYX) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue increased 12.1% year-over-year to $12.9 million, driven by a 19.1% rise in Surgical Aesthetics sales and strong demand for the AYON Body Contouring System, partially offset by an 18% decline in OEM sales.

• Net loss narrowed to $2.0 million ($0.05/share) from $4.7 million ($0.14/share) year-over-year, with adjusted EBITDA loss decreasing 96% to $0.1 million.

• The AYON Body Contouring System received FDA 510(k) clearance in May 2025 and launched commercially in September 2025, with pre-order demand exceeding expectations.

• Achieved significant operational improvements following 2024 restructuring, reducing cash burn and strengthening financial health.

• Rebranded Advanced Energy segment as Surgical Aesthetics to align with mission and product evolution.

Financial highlights

• Q3 2025 total revenue was $12.9 million (up 12.1% year-over-year); Surgical Aesthetics revenue rose 19% to $11.1 million, while OEM sales declined 18% to $1.8 million.

• Gross profit increased to $8.3 million, with gross margin improving to 64.4% from 60.5% year-over-year.

• Operating expenses fell to $9.1 million from $10.6 million, reflecting cost reductions.

• Cash and cash equivalents stood at $25.1 million as of September 30, 2025.

• Operating cash outflow for the nine months ended September 30, 2025, decreased to $5.5 million from $15.1 million year-over-year.

Outlook and guidance

• FY2025 revenue guidance raised to $50.5–$52.5 million, up from previous $50.0–$52.0 million and original $47.6–$49.5 million.

• Surgical Aesthetics segment guidance increased to $43–$45 million; OEM guidance lowered to $7.5 million.

• Gross margin expected at approximately 61% for 2025; operating expenses not to exceed $40 million.

• Cash projections indicate sufficient liquidity through 2027.

• Ongoing focus on achieving cash-flow breakeven through cost-saving initiatives and continued investment in AYON commercialization and label expansion.