Apyx Medical Corporation reported its financial results for the third quarter of 2025, revealing a total revenue of $12.9 million, a 12.1% increase from $11.5 million in the same period last year. The Surgical Aesthetics segment, which includes the recently launched AYON Body Contouring System, saw a significant sales increase of 19.1%, contributing $11.1 million to total sales. In contrast, the OEM segment experienced a decline of 17.6%, generating $1.8 million. For the nine months ending September 30, 2025, total revenue decreased slightly to $33.7 million from $33.9 million in the prior year, with Surgical Aesthetics sales up 8.0% and OEM sales down 31.4%.
The company reported a net loss of $1.96 million for the third quarter, an improvement from a loss of $4.72 million in the same quarter of 2024. The loss per share for the quarter was $0.05, compared to $0.14 in the prior year. For the nine-month period, the net loss was $9.87 million, down from $18.90 million in the previous year. The gross profit for the third quarter increased by 19.3% to $8.3 million, with a gross margin of 64.4%, up from 60.5% in the prior year, attributed to a favorable sales mix and improved domestic sales.
In terms of operational developments, Apyx Medical has focused on strategic cost-saving measures, including a workforce reduction of nearly 25% in late 2024, which is expected to yield annual savings of approximately $4.3 million. The company has also streamlined its board of directors and reduced cash compensation significantly. As of September 30, 2025, Apyx had approximately $25.1 million in cash and cash equivalents, down from $31.7 million at the end of 2024, with working capital also decreasing to $37.8 million.
Geographically, Apyx Medical's international sales accounted for approximately 27.5% of total revenues in the third quarter, a slight decrease from 29.2% in the previous year. The company has sold products in over 60 countries, with a notable increase in domestic sales, which rose by over 30% year-over-year. The company continues to monitor market conditions, including the impact of GLP-1 receptor agonists on the aesthetic surgery market, which may influence future sales of its products.
Looking ahead, Apyx Medical anticipates ongoing net losses and cash outflows but plans to fund operations through existing cash and product sales, with potential additional equity or debt financing if necessary. The company is focused on achieving cash-flow breakeven and reducing annual operating expenses below $40 million in 2025. The recent launch of the AYON Body Contouring System is expected to drive future growth, and the company is actively pursuing FDA label expansions to enhance its market offerings.
About Apyx Medical Corp
Apyx Medical Corporation develops and manufactures advanced energy medical devices featuring proprietary Helium Plasma Technology, marketed as Renuvion for cosmetic surgery and J-Plasma for hospital surgical applications. Serving plastic surgeons and medical professionals globally, the company offers electrosurgical generators, handpieces, and accessories that deliver precise tissue treatment with controlled heat. Its business model combines direct sales, distributor networks, OEM manufacturing, and a strong focus on innovation, clinical support, and intellectual property protection.
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