NASDAQ : APYX
Apyx Medical Corporation — Financial statements
Healthcare · Medical Devices · United States
Last price 2.6 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 109.52M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Apyx Medical Corporation (APYX) reported revenue of 58.41M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 58.41M | 52.84M | 48.10M | 52.35M | 44.51M | 48.52M |
| Cost of Revenue | 21.32M | 19.80M | 18.74M | 18.59M | 15.38M | 14.92M |
| Gross Profit | 37.09M | 33.04M | 29.36M | 33.76M | 29.13M | 33.60M |
| Selling, General & Admin | 37.33M | 36.12M | 43.12M | 48.27M | 47.90M | 43.73M |
| Research & Development | 3.30M | 3.37M | 5.08M | 5.44M | 4.54M | 4.32M |
| Operating Expenses | 40.63M | 39.49M | 48.20M | 53.71M | 52.44M | 48.05M |
| Operating Income | -3.54M | -6.45M | -18.84M | -19.95M | -23.31M | -14.45M |
| Interest Expense | -5.58M | -5.59M | -5.91M | -2.48M | -15.00K | -10.00K |
| Interest & Investment Income | 1.02M | 1.11M | 1.61M | 921.00K | 157.00K | 11.00K |
| Other Non Operating Income (Expenses) | 130.00K | 92.00K | -161.00K | 622.00K | 509.00K | -373.00K |
| EBT Excluding Unusual Items | -7.97M | -10.84M | -23.31M | -20.89M | -22.66M | -14.82M |
| Gain (Loss) on Sale of Assets | 2.69M | |||||
| Legal Settlements | -250.00K | |||||
| Other Unusual Items | -3.09M | |||||
| Pretax Income | -7.97M | -10.84M | -23.31M | -21.28M | -22.91M | -14.82M |
| Income Tax Expense | 439.00K | 270.00K | 252.00K | -2.43M | 367.00K | 380.00K |
| Earnings From Continuing Operations | -8.41M | -11.11M | -23.56M | -18.85M | -23.28M | -15.20M |
| Net Income to Company | -8.41M | -11.11M | -23.56M | -18.85M | -23.28M | -15.20M |
| Minority Interest in Earnings | -224.00K | -106.00K | 96.00K | 137.00K | 94.00K | 28.00K |
| Net Income | -8.63M | -11.21M | -23.46M | -18.71M | -23.18M | -15.17M |
| Net Income to Common | -8.63M | -11.21M | -23.46M | -18.71M | -23.18M | -15.17M |
| Shares Outstanding (Basic) | 42.63M | 41.09M | 35.54M | 34.62M | 34.52M | 34.33M |
| Shares Outstanding (Diluted) | 42.63M | 41.09M | 35.54M | 34.62M | 34.52M | 34.33M |
| EPS (Basic) | -0.20 | -0.27 | -0.66 | -0.54 | -0.67 | -0.44 |
| EPS (Diluted) | -0.20 | -0.27 | -0.66 | -0.54 | -0.67 | -0.44 |
| Free Cash Flow | -11.05M | -9.12M | -18.77M | -5.78M | -21.29M | -11.17M |
| Free Cash Flow Per Share | -0.26 | -0.22 | -0.53 | -0.17 | -0.62 | -0.33 |
| Gross Margin | 63.50% | 62.53% | 61.04% | 64.49% | 65.45% | 69.26% |
| Operating Margin | -6.06% | -12.20% | -39.18% | -38.11% | -52.38% | -29.78% |
| Profit Margin | -14.78% | -21.21% | -48.78% | -35.75% | -52.09% | -31.27% |
| Free Cash Flow Margin | -18.91% | -17.25% | -39.02% | -11.04% | -47.83% | -23.03% |
| EBITDA | -2.75M | -5.79M | -18.25M | -19.26M | -22.42M | -13.54M |
| EBITDA Margin | -4.72% | -10.96% | -37.93% | -36.79% | -50.38% | -27.92% |
| D&A For EBITDA | 783.00K | 655.00K | 599.00K | 692.00K | 890.00K | 903.00K |
| EBIT | -3.54M | -6.45M | -18.84M | -19.95M | -23.31M | -14.45M |
| EBIT Margin | -6.06% | -12.20% | -39.18% | -38.11% | -52.38% | -29.78% |
| Advertising Expenses | 1.60M | 1.30M | 1.80M | 2.30M | 1.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 27.62M | 31.74M | 31.74M | 43.65M | 10.19M | 30.87M |
| Cash & Short-Term Investments | 27.62M | 31.74M | 31.74M | 43.65M | 10.19M | 30.87M |
| Accounts Receivable | 13.61M | 16.88M | 15.58M | 14.12M | 10.70M | 13.14M |
| Other Receivables | 7.64M | 8.12M | ||||
| Receivables | 13.61M | 16.88M | 15.58M | 14.12M | 18.35M | 21.26M |
| Inventory | 10.75M | 8.60M | 7.56M | 9.92M | 11.80M | 6.78M |
| Prepaid Expenses | 1.18M | 1.25M | 1.55M | 2.66M | 2.64M | 1.83M |
| Total Current Assets | 53.16M | 58.47M | 56.44M | 70.36M | 42.97M | 60.74M |
| Property, Plant & Equipment | 6.14M | 6.62M | 6.74M | 7.15M | 7.59M | 6.87M |
| Other Long-Term Assets | 1.78M | 1.75M | 1.66M | 1.73M | 1.22M | 1.11M |
| Total Assets | 61.07M | 66.84M | 64.84M | 79.24M | 51.77M | 68.72M |
| Accounts Payable | 2.19M | 3.06M | 2.62M | 2.71M | 2.67M | 2.63M |
| Accrued Expenses | 3.38M | 4.87M | 3.46M | 5.21M | 3.78M | 6.69M |
| Current Portion of Leases | 472.00K | 428.00K | 355.00K | 367.00K | 253.00K | 287.00K |
| Current Unearned Revenue | 874.00K | 643.00K | 693.00K | 488.00K | 853.00K | 533.00K |
| Other Current Liabilities | 2.44M | 2.70M | 3.60M | 3.97M | 4.29M | 3.07M |
| Total Current Liabilities | 9.35M | 11.70M | 10.72M | 12.74M | 11.85M | 13.21M |
| Long-Term Debt | 35.33M | 34.85M | 33.89M | 33.19M | ||
| Long-Term Leases | 3.83M | 4.06M | 4.52M | 4.95M | 543.00K | 18.00K |
| Long-Term Unearned Revenue | 1.13M | 1.05M | 1.12M | 1.25M | 1.41M | 1.32M |
| Other Long-Term Liabilities | 336.00K | 347.00K | 259.00K | 198.00K | 181.00K | 166.00K |
| Total Liabilities | 49.98M | 52.01M | 50.51M | 52.32M | 13.98M | 14.71M |
| Common Stock | 42.00K | 42.00K | 38.00K | 35.00K | 35.00K | 34.00K |
| Additional Paid-In Capital | 105.09M | 103.62M | 92.08M | 81.11M | 73.28M | 66.22M |
| Retained Earnings | -94.47M | -89.12M | -77.91M | -54.45M | -35.73M | -12.55M |
| Total Common Equity | 10.66M | 14.54M | 14.21M | 26.70M | 37.58M | 53.70M |
| Minority Interest | 427.00K | 291.00K | 125.00K | 221.00K | 211.00K | 305.00K |
| Shareholders' Equity | 11.09M | 14.83M | 14.34M | 26.92M | 37.79M | 54.01M |
| Total Liabilities & Equity | 61.07M | 66.84M | 64.84M | 79.24M | 51.77M | 68.72M |
| Total Debt | 39.63M | 39.34M | 38.76M | 38.50M | 796.00K | 305.00K |
| Net Cash (Debt) | -12.01M | -7.60M | -7.02M | 5.15M | 9.40M | 30.57M |
| Net Cash Per Share | -0.28 | -0.18 | -0.20 | 0.15 | 0.27 | 0.89 |
| Filing Date Shares Outstanding | 42.12M | 41.83M | 37.79M | 34.64M | 34.60M | 34.43M |
| Total Common Shares Outstanding | 42.12M | 41.79M | 37.79M | 34.64M | 34.60M | 34.41M |
| Working Capital | 43.80M | 46.77M | 45.72M | 57.62M | 31.12M | 47.53M |
| Book Value Per Share | 0.25 | 0.35 | 0.38 | 0.77 | 1.09 | 1.56 |
| Tangible Book Value | 10.66M | 14.54M | 14.21M | 26.70M | 37.58M | 53.70M |
| Tangible Book Value Per Share | 0.25 | 0.35 | 0.38 | 0.77 | 1.09 | 1.56 |
| Land | 1.60M | 1.60M | ||||
| Buildings | 4.43M | 4.43M | ||||
| Machinery | 6.14M | 5.06M | 4.83M | 5.09M | 5.04M | |
| Construction In Progress | 162.00K | 635.00K | 400.00K | 507.00K | 654.00K | |
| Leasehold Improvements | 361.00K | 281.00K | 212.00K | 178.00K | 171.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -8.63M | -11.21M | -23.46M | -18.71M | -23.18M | -15.17M |
| Depreciation & Amortization | 783.00K | 655.00K | 599.00K | 692.00K | 890.00K | 903.00K |
| Loss (Gain) From Sale of Assets | 19.00K | 19.00K | 13.00K | -2.53M | 75.00K | 48.00K |
| Stock-Based Compensation | 2.42M | 2.00M | 4.01M | 5.11M | 6.70M | 5.09M |
| Provision & Write-off of Bad Debts | 323.00K | 423.00K | 396.00K | 279.00K | 315.00K | 128.00K |
| Other Operating Activities | 1.74M | 1.70M | 1.64M | 4.37M | 144.00K | 399.00K |
| Change in Accounts Receivable | -2.73M | -1.32M | -2.04M | -3.57M | 1.92M | -4.90M |
| Change in Inventory | -2.51M | -1.07M | 2.26M | 1.46M | -5.57M | -2.86M |
| Change in Accounts Payable | -682.00K | 355.00K | -63.00K | 25.00K | 67.00K | 1.15M |
| Change in Income Taxes | 7.54M | 97.00K | 12.00K | |||
| Change in Other Net Operating Assets | -856.00K | 446.00K | -1.41M | 88.00K | -1.73M | 4.75M |
| Operating Cash Flow | -10.13M | -8.00M | -18.05M | -5.25M | -20.28M | -10.45M |
| Capital Expenditures | -920.00K | -1.11M | -722.00K | -533.00K | -1.01M | -723.00K |
| Sale of Property, Plant & Equipment | 7.27M | |||||
| Investing Cash Flow | -920.00K | -1.11M | -722.00K | 6.73M | -1.01M | -723.00K |
| Long-Term Debt Issued | 43.47M | |||||
| Long-Term Debt Repaid | -20.00K | -20.00K | -11.07M | -148.00K | -238.00K | |
| Total Debt Repaid | -20.00K | -20.00K | -20.00K | -11.07M | -148.00K | -238.00K |
| Net Debt Issued (Repaid) | -20.00K | -20.00K | -20.00K | 32.41M | -148.00K | -238.00K |
| Issuance of Common Stock | 9.88M | 9.79M | 7.00M | 86.00K | 365.00K | 67.00K |
| Other Financing Activities | -248.00K | -188.00K | -235.00K | -327.00K | 195.00K | |
| Financing Cash Flow | 9.61M | 9.58M | 6.75M | 32.17M | 217.00K | 24.00K |
| Foreign Exchange Rate Adjustments | -244.00K | -466.00K | 113.00K | -191.00K | 395.00K | 103.00K |
| Net Cash Flow | -1.68M | -1.00K | -11.91M | 33.46M | -20.68M | -11.04M |
| Free Cash Flow | -11.05M | -9.12M | -18.77M | -5.78M | -21.29M | -11.17M |
| Free Cash Flow Margin | -18.91% | -17.25% | -39.02% | -11.04% | -47.83% | -23.03% |
| Free Cash Flow Per Share | -0.26 | -0.22 | -0.53 | -0.17 | -0.62 | -0.33 |
| Levered Free Cash Flow | -9.63M | -7.11M | -11.58M | -1.90M | -5.54M | -5.33M |
| Unlevered Free Cash Flow | -6.14M | -3.61M | -7.88M | -350.38K | -5.53M | -5.33M |
| Cash Interest Paid | 4.62M | 4.64M | 4.75M | 1.94M | 15.00K | 10.00K |
| Cash Income Tax Paid | 348.00K | 258.00K | 382.00K | 329.00K | 128.00K | 111.00K |
| Change in Working Capital | -6.77M | -1.59M | -1.25M | 5.54M | -5.22M | -1.84M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 109.52M | 143.60M | 59.48M | 90.77M | 80.96M | 440.29M |
| Enterprise Value | 121.54M | 157.91M | 70.47M | 83.26M | 67.17M | 410.10M |
| Last Close Price | 2.60 | 3.50 | 1.58 | 2.62 | 2.34 | 12.82 |
| Forward PE | 267.00 | 267.00 | 267.00 | 267.00 | 267.00 | |
| PS Ratio | 1.87 | 2.72 | 1.24 | 1.73 | 1.82 | 9.07 |
| PB Ratio | 10.27 | 9.68 | 4.15 | 3.37 | 2.14 | 8.15 |
| P/TBV Ratio | 10.27 | 9.88 | 4.19 | 3.40 | 2.15 | 8.20 |
| PEG Ratio | 20.63 | 20.63 | 20.63 | 20.63 | 20.63 | |
| EV/Sales Ratio | 2.08 | 2.99 | 1.47 | 1.59 | 1.51 | 8.45 |
| Debt / Equity Ratio | 3.57 | 2.65 | 2.70 | 1.43 | 0.02 | 0.01 |
| Net Debt / Equity Ratio | 1.08 | 0.51 | 0.49 | -0.19 | -0.25 | -0.57 |
| Net Debt / EBITDA Ratio | -4.36 | -1.31 | -0.39 | 0.27 | 0.42 | 2.26 |
| Net Debt / FCF Ratio | -1.09 | -0.83 | -0.37 | 0.89 | 0.44 | 2.74 |
| Asset Turnover | 0.98 | 0.80 | 0.67 | 0.80 | 0.74 | 0.68 |
| Inventory Turnover | 2.25 | 2.45 | 2.14 | 1.71 | 1.66 | 2.75 |
| Quick Ratio | 4.41 | 4.16 | 4.41 | 4.54 | 2.41 | 3.95 |
| Current Ratio | 5.68 | 5.00 | 5.26 | 5.52 | 3.63 | 4.60 |
| Return on Equity (ROE) | -90.69% | -76.15% | -114.21% | -58.26% | -50.71% | -25.79% |
| Return on Assets (ROA) | -3.71% | -6.12% | -16.35% | -19.04% | -24.18% | -12.64% |
| Return on Capital Employed (ROCE) | -6.80% | -11.70% | -34.80% | -30.00% | -58.40% | -26.00% |
| Earnings Yield | -7.79% | -7.81% | -39.45% | -20.62% | -28.64% | -3.45% |
| FCF Yield | -10.09% | -6.35% | -31.56% | -6.37% | -26.30% | -2.54% |
| Buyback Yield / Dilution | -10.48% | -15.62% | -2.66% | -0.31% | -0.54% | -0.35% |