The following is a summary of the Apyx Medical Corporation (APYX) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 total revenue decreased 10% year-over-year to $12.1 million.

• Advanced Energy products revenue decreased 17% year-over-year to $9.8 million.

• OEM products revenue increased 29% year-over-year to $2.4 million.

• Gross profit decreased by 19% to $7.5 million from the previous year, with gross margin declining to 61.7% from 68.4%.

• Net loss attributable to stockholders widened from $1 million or $0.03 per share in the prior year period to $6.6 million or $0.19 per share.

Business Progress:

• Apyx witnessed strong global handpiece sales growth exceeding 20%, driven by both new and existing users of the technology.

• Successful execution of surgeon education and direct-to-consumer initiatives to drive awareness and adoption. Efforts include participation in industry conferences, hosting physician programs, and launching the Renewing Lives campaign.

• The company anticipates continuing challenges in the cosmetic surgery market but expects to offset these with initiatives tailored towards enhancing system sales and broadening awareness.

Opportunities:

• Increased awareness and adoption of Renuvion technology through ongoing clinical studies, proving its superiority over alternatives like Bipolar RF.

• Growth in handpiece sales, supported by market acceptance and education campaigns.

• Revised upward guidance for OEM segment, reflecting strong sales and promising engagement strategies addressing potential market contraction.

Risks:

• Ongoing challenges in the capital equipment market, particularly affected by the soft demand in cosmetic surgery due to macroeconomic uncertainties.

• Potential disruptions from the challenging financing environment and high interest rates, affecting customer purchasing decisions.

More details: Apyx Medical IR

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