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APYX Apyx Medical

Apyx Medical Corp. operates as an energy-based medical technology company. The firm engages in developing, manufacturing, and marketing a range of electrosurgical products and technologies, as well as related medical products used the offices of doctors, surgery centers, and hospitals worldwide. It operates through the following segments: Advanced Energy and Original Equipment Manufacture (OME). The company was founded by Andrew Makrides in 1978 and is headquartered in Clearwater, FL.

Company profile

Ticker
APYX
Exchange
CEO
Robert Gershon
Employees
Incorporated
Location
Fiscal year end
Former names
AN CON GENETICS INC, BOVIE MEDICAL CORP, BOVIE MEDICAL Corp
SEC CIK
IRS number
112644611

APYX stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 Nov 20
2 Mar 21
31 Dec 21
Quarter (USD)
Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 43.54M 43.54M 43.54M 43.54M 43.54M 43.54M
Cash burn (monthly) 872.33K 1.99M 1.48M 1.91M 872K 1.63M
Cash used (since last report) 4.4M 10.01M 7.48M 9.62M 4.4M 8.24M
Cash remaining 39.14M 33.52M 36.06M 33.92M 39.14M 35.3M
Runway (months of cash) 44.9 16.9 24.3 17.8 44.9 21.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
29 Jan 21 Tara Semb Stock Option (Option to Buy) Common Stock Grant Aquire A No No 9.29 48,000 445.92K 48,000
29 Jan 21 Goodwin Charles D. II Common Stock Common Stock Grant Aquire A No No 9.29 121,500 1.13M 121,500
29 Jan 21 Todd Hornsby Stock Option (Option to Buy) Common Stock Grant Aquire A No No 9.29 50,000 464.5K 50,000
29 Jan 21 Moshe Citronowicz Stock Option (Option to Buy) Common Stock Grant Aquire A No No 9.29 36,000 334.44K 36,000
7 Oct 20 Craig A. Swandal Common Stock Option exercise Aquire M No No 7.28 7,084 51.57K 17,000
7 Oct 20 Craig A. Swandal Stock Option (Option to Buy) Common Stock Option exercise Dispose M No No 7.28 7,084 51.57K 0
4 Mar 20 Craig A. Swandal Common Stock Option exercise Aquire M No No 7.28 9,916 72.19K 17,000
4 Mar 20 Craig A. Swandal Stock Option (Option to Buy) Common Stock Option exercise Dispose M No No 7.28 9,916 72.19K 0
13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change

Financial report summary

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Competition
MedtronicConmedMedtronic
Risks
  • The energy-based medical device industry in the aesthetics market is highly competitive and we may be unable to compete effectively.
  • Maintaining strong relationships with plastic surgeons, cosmetic physicians, and other healthcare professionals, is critical to the success of our product commercialization strategy.
  • We rely on our internal sales force and sales partners to market and sell our products. If we are unable to hire, effectively train, and retain these professionals, future sales and profitability may be adversely affected.
  • If we are unable to successfully introduce new products or fail to keep pace with competitive advances in technology, our business, financial condition and results of operations could be adversely affected. In addition, our research and development efforts rely upon investments and alliances and we cannot guarantee that any previous or future investments or alliances will be successful.
  • Even if we are successful in developing new, or enhancing our existing products, there are various circumstances that could prevent their successful commercialization.
  • Our industry is highly regulated by the U.S. Food and Drug Administration and international regulatory authorities, as well as other governmental, state and federal agencies which have substantial authority to establish criteria which must be complied with in order for us to continue in operation.
  • Changes in U.S. trade policies could significantly increase the cost of imported goods into the United States, which may materially reduce our sales or profitability.
  • Our operations may experience higher costs to produce our products as a result of changes in prices for oil, gasoline and other commodities.
  • The recent Coronavirus outbreak has been declared a pandemic by the World Health Organization and recently has spread to the United States and many other parts of the world and may continue to adversely affect our business operations, employee availability, financial condition, liquidity and cash flow for an extended period of time.
  • We rely on certain suppliers, subcontractors, and manufacturers for raw materials and other products and are vulnerable to fluctuations in the availability and price of such products and services.
  • If we are unable to protect our patents or other proprietary rights, or if we infringe on the patents or other proprietary rights of others, our competitiveness and business prospects may be materially damaged.
  • We have been and may in the future become subject to litigation proceedings that could materially and adversely affect our business.
  • Our business is subject to the potential for recalls or safety alerts, litigation and negative publicity associated with defects or failures of our products, or their misuse\off-label use by physicians.
  • Economic conditions could adversely affect our business and financial condition.
  • There may be circumstances that arise that may cause us to use some of our existing financial assets ineffectively.
  • We may, in the future, identify deficiencies in controls over financial reporting.
  • We are at risk of being the victim of a cyber-attack or a security breach that may expose confidential customer, product and Company data or compromise our internal IT infrastructure. This could lead to liabilities resulting from failure to comply with US and foreign data security and privacy regulations and negative impacts to our business operations.
  • Our manufacturing facilities are located in Clearwater, Florida and Sophia, Bulgaria and could be affected due to multiple weather risks, including risks to our Florida facility from hurricanes and similar phenomena.
  • The market price of our stock has been and may continue to be highly volatile.
  • We have no present intention to pay dividends on our common stock and, even if we change that policy, we may be unable to pay dividends on our common stock.
  • Exercise of options issued by us will dilute the ownership interest of existing stockholders.
Management Discussion
  • Total revenue from continuing operations increased by 70.0% or approximately $11.6 million for the year ended December 31, 2019 when compared with 2018. Advanced Energy segment sales increased 74.6% or approximately $9.7 million for the year ended December 31, 2019 when compared with 2018. The increase is a result of the impact made by the additional sales force in the U.S. and new international distributors. In both the U.S. and internationally, strong sales growth of generators was coupled with utilization based demand for our handpieces. In addition, we entered four new markets in 2019, the largest of which were Mexico and Canada.
  • The OEM product line consists of proprietary products designed specifically for third party equipment manufacturers; revenue for this product line increased 53.6% or approximately $1.9 million when compared to 2018. The increase from 2018 is primarily attributable to sales to Symmetry under our Manufacture and Supply Agreement, which commenced following the disposition of the Core Business in August 2018.
  • Overall sales from continuing operations increased by 62.3% or approximately $6.4 million for the year ended December 31, 2018 when compared with 2017. Advanced Energy segment sales increased 70.1% or approximately $5.4 million for the year ended December 31, 2018 when compared with 2017. The increase was primarily driven by a continued focus of our selling into the cosmetic surgery market and sales growth in international markets. The OEM product line consists of proprietary products designed specifically for third party equipment manufacturers; revenue for this product line increased 39.3% or approximately $1.0 million when compared to 2017.
Content analysis
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Positive
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Legalese
Litigous
Readability
H.S. sophomore Avg
New words: advertising, confirm, cumulative, final, fourth, intrinsic, JV, older, ownership, percentage, registration, settled, successful, unknown
Removed: amortized, deductible, history