Apyx Medical Posts Lower-Than-Expected 4Q Loss, Beats On Revenues


Apyx Medical Corp. reported a smaller-than-feared loss in the fourth quarter. Moreover, revenues topped analysts’ expectations. Shares of the advanced energy technology company rose 2.2% to close at $9.88 on March 30.

Apyx Medical (APYX) incurred a loss of $0.04 per share in 4Q, compared to the $0.11 loss per share estimated by analysts. A loss of $0.16 per share was reported in the same quarter last year. Total revenues generated in the quarter increased 36.8% to $11.5 million and came in well ahead of the consensus estimate of $9.62 million.

The company’s Advanced Energy segment sales jumped 44% year-over-year, while sales for the OEM segment grew 4%. Additionally, gross margin increased 80 basis points to 67.2%. (See Apyx Medical stock analysis on TipRanks)

Apyx Medical CEO Charlie Goodwin said, “We introduced full year 2021 financial guidance which calls for revenue growth in the range of 32% to 40% year-over-year, driven by Advanced Energy growth of 45% to 55% year-over-year. Importantly, our guidance assumes that strong handpiece demand from global customers will be the largest contributor to our year-over-year growth, coupled with measured improvement in the capital equipment environment as we move through the year.”

For 2021, the company projects total revenues to land between $36.7 million and $38.7 million, versus the consensus estimate of $39.15 million. Net loss is forecasted to be in the range of $20.7 million to $18.4 million.

On March 30, Colliers Securities analyst Kyle Bauser maintained a Buy rating and a price target of $14 (41.7% upside potential).

Apyx Medical shares have exploded 175.2% over the past year, while the stock still scores a Strong Buy consensus rating, based on 4 unanimous Buys. That’s alongside an average analyst price target of $12.50, which implies 26.5% upside potential to current levels.

On top of this, Apyx Medical scores a 9 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

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