Apyx Medical (APYX) Canaccord Genuity's 46th Annual Growth Conference summary

Industry trends and market dynamics

• GLP-1 drugs have reshaped the aesthetics market, creating a surge in demand for body contouring and skin tightening as 63% of GLP-1 users are new to aesthetics.

• The patient population is shifting, leading to more combination procedures involving both incisional and minimally invasive techniques.

• Non-invasive therapies are down 30% due to increased skin laxity, driving demand for surgical interventions.

• Google search trends show high interest in skin tightening, loose skin, liposuction, and body contouring.

• The aesthetics market opportunity is estimated at $10 billion, with significant growth potential for surgical solutions.

Product innovation and technology

• Renuvion is the only FDA-approved device for subdermal skin tightening, with a strong consumable business model.

• AYON Body Contouring System integrates multiple technologies, including electrosurgery, ultrasound, power-assisted liposuction, and fat transfer, offering a comprehensive solution.

• The ultrasound component provides real-time feedback, improving safety and efficiency in fat emulsification.

• Power-assisted liposuction handpiece received 510(k) clearance in May, completing the AYON system and addressing 80% of body contouring needs.

• AYON allows faster, safer, and more versatile procedures compared to legacy technologies.

Business performance and strategy

• 2026 revenue guidance is $59–$60 million, with surgical aesthetics expected to contribute $54–$55 million.

• OEM business is intentionally declining to focus resources on AYON manufacturing and growth.

• Operating expenses are capped at $45 million, with a strong focus on achieving profitability.

• Recent quarters show an EBITDA loss of about $400,000, with ongoing efforts to improve the balance sheet.

• AYON launch is a multi-year opportunity, with expansion plans for international markets and ongoing registration efforts.