Apyx Medical Corporation Reports Preliminary Full Year and Fourth Quarter 2019 Revenue Results

Apyx Medical Corporation (NASDAQ:APYX) (the “Company”), a maker of medical devices and supplies and the developer of Helium Plasma Technology, marketed and sold as Renuvion in the cosmetic surgery market and J-Plasma in the hospital surgical market, today reported preliminary revenue results for the full year and fourth quarter ended December 31, 2019.

Preliminary Full Year 2019 Revenue Summary:

• Total revenue from continuing operations in a range of approximately $27.9 to $28.1 million, up approximately 67% to 68% year-over-year.
  • Advanced Energy revenue in a range of approximately $22.3 to $22.6 million, up approximately 71% to 73% year-over-year.
  • OEM revenue of approximately $5.5 million, up approximately 52% year-over-year.

Preliminary Fourth Quarter 2019 Revenue Summary:

• Total Q4 revenue from continuing operations in a range of approximately $8.1 to $8.3 million, up approximately 36% to 41% year-over-year.
  • Advanced Energy revenue of approximately $6.6 to $6.9 million, up approximately 52% to 58% year-over-year.
  • OEM revenue of approximately $1.5 million, down approximately 7% year-over-year.

Management Comments:

“We are pleased with our impressive sales performance during the fourth quarter, with Advanced Energy revenue growth of more than 52%, driven by strong demand for our innovative Helium Plasma Technology products in both the U.S. cosmetic surgery market and abroad,” said Charlie Goodwin, President and Chief Executive Officer. “During the fourth quarter, we also continued to advance our regulatory strategy to expand our addressable market opportunity in the U.S. cosmetic surgery market by initiating enrollment in two new clinical studies evaluating use of our Renuvion technology in dermal resurfacing procedures and skin laxity procedures, respectively. Our strong fourth quarter sales performance capped off a year of strong growth in our Advanced Energy business where we generated sales growth in excess of 71% in 2019.”

Mr. Goodwin continued: “Our success in 2019 is an affirmation that we are pursuing the appropriate strategy and executing effectively to grow our share of the $1.5 billion opportunity in the U.S. cosmetic surgery market, and expanding adoption and utilization internationally as well. With an attractive global market opportunity, innovative technology and a strong balance sheet, we are excited about our prospects for 2020. We will continue to build upon the achievements we made this past year, and lay the foundation for future growth and improving profitability, by investing thoughtfully in our business and remaining focused on creating value for both our customers and shareholders.”