The following is a summary of the Apyx Medical Corporation (APYX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Reported a total quarterly revenue of $11.5 million, a decrease of 4% year-over-year.

• Gross profit for the quarter decreased 13% to $7 million with a margin of 60.5%, compared to 66.6% in the prior year.

• Loss from operations decreased 22% to $3.6 million.

• Net loss for shareholders increased slightly to $4.7 million or $0.14 per share.

• Revised full year guidance anticipates a decrease in total revenue by approximately 11% to 9% year-over-year to $46.6 million to $47.6 million.

Business Progress:

• Undergoing a strategic restructuring including a reduction of the U.S. workforce by 25%.

• Introduction of the Ayon body contouring system; planning to submit a 510(k) to the FDA, expected to launch in the second half of 2025.

• Announced promotion of Shawn Roman to Chief Operating Officer.

• Expanding direct-to-consumer campaigns and initiatives to educate both physicians and patients on Renuvion technology.

Opportunities:

• Projected increase in demand for Renuvion technology due to the side effects of GLP-1 drugs, leading to a growing market for surgical treatments of loose skin.

• Anticipation of capturing new market shares and expanding the total addressable market in aesthetic surgery with the upcoming launch of the Ayon body contouring system.

Risks:

• Continued soft performance in generator capital sales attributed to macroeconomic pressures and competition from non-invasive aesthetic procedures.

• Potential near term impacts on capital equipment sales as customers may postpone purchases in anticipation of the new Ayon system.

• Dependency on the successful review and approval by the FDA of the new Ayon system, and effective integration of numerous surgical technologies.

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