Procore signs multi-year strategic collaboration agreement with AWS
On Monday, Citizens JMP analyst David Turkaly maintained a Market Perform rating on Apyx Medical (TASE:BLWV) Corp. (NASDAQ: NASDAQ:APYX) after evaluating the company’s fourth-quarter financial results. The firm’s assessment comes in the wake of Apyx Medical’s announcement of their quarterly performance, which revealed total sales of $14.2 million. This figure represents a slight decline of 3% year-over-year but still surpasses the anticipated $13.4 million projected by analysts. According to InvestingPro data, the company maintains a healthy gross margin of 61% despite an overall revenue decline of 8.11% in the last twelve months. The medical device maker, currently valued at $49.13 million, shows signs of being slightly undervalued based on InvestingPro’s Fair Value analysis.
The Advanced Energy (NASDAQ:AEIS) segment of Apyx Medical reported stable year-over-year figures, while the OEM division experienced a more significant drop, with a 16% decrease compared to the previous year. However, the company saw an increase in handpiece shipments, which grew by 5% globally. Notably, the U.S. market showed robust growth with a 20% year-over-year increase in shipments. InvestingPro analysis reveals that while the company maintains strong liquidity with a current ratio of 5.26, it faces profitability challenges. Subscribers can access 6 additional ProTips and comprehensive financial metrics to better understand Apyx’s market position.
Apyx Medical also disclosed the recent submission of their 510k for the Ayon body contouring system. This innovative system is designed to be a comprehensive solution for surgeons, enabling them to conduct a broad spectrum of aesthetic procedures using a single console. The management team at Apyx Medical has indicated plans to launch this new platform in the second half of 2025, signaling a potential future growth avenue for the company. With analysts projecting continued losses in 2025, this new product launch could be crucial for the company’s path to profitability.
In other recent news, Apyx Medical Inc. reported its Q4 2024 earnings, revealing a stronger-than-expected performance. The company achieved an earnings per share (EPS) of -$0.12, surpassing the forecasted -$0.16, and reported revenue of $14.2 million, exceeding the projected $13.02 million. The Advanced Energy segment maintained its revenue levels year-over-year, despite a 3% overall decline in total revenue. Apyx Medical also announced the submission of its Aon (NYSE:AON) body contouring system to the FDA ahead of schedule, with plans for a product launch in the latter half of 2025. The company has implemented workforce reductions and cost-saving measures, which are expected to lower operating expenses in 2025. Analysts from firms such as Piper Sandler and Craig Hallum have shown interest in the company’s strategies and market adaptation. Apyx Medical’s CEO, Charlie Goodwin, expressed optimism about the future, highlighting the potential impact of GLP-1 weight loss drugs on the market. The company anticipates maintaining a gross margin of 60% and expects its cash reserves to support operations into 2027.
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