Apyx Medical (APYX) Q2 2026 earnings summary

Executive summary

• Revenue grew 22.1% year-over-year to $13.9 million in Q2 2026, driven by strong AYON platform and Surgical Aesthetics sales, with increased handpiece volumes domestically and internationally.

• OEM segment sales declined 12% year-over-year as focus shifted to Surgical Aesthetics.

• Gross margin improved to 63.9% from 62.3% year-over-year, reflecting favorable segment and product mix.

• Net loss attributable to stockholders narrowed to $3.2 million ($0.07 per share) from $3.8 million ($0.09 per share) year-over-year; adjusted EBITDA loss improved to $0.7 million from $2.0 million.

• Expanded FDA 510(k) clearance for AYON Body Contouring System to include power liposuction, with limited commercial launch at the end of June 2026.

Financial highlights

• Surgical Aesthetics segment revenue rose 28% year-over-year to $12.4 million, while OEM segment revenue declined to $1.5 million.

• Gross profit increased 25% to $8.9 million, with gross margin at 63.9%.

• Operating expenses increased to $10.7 million, mainly due to higher SG&A and salaries.

• Net cash used in operating activities was $3.5 million; cash and equivalents stood at $27.6 million as of June 30, 2026.

• Working capital at June 30, 2026 was $43.8 million.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $59–$60 million, up from $52.8 million in 2025.

• Surgical Aesthetics revenue expected at $54–$55 million; OEM revenue projected at $5 million.

• Gross margin guidance maintained at 62–63%; total operating expenses not to exceed $45 million.

• Liquidity expected to be sufficient into 2027–2028, with focus on achieving cash flow positivity.

• Anticipates continued net losses and cash outflows in the near term, with plans to fund operations through existing cash, product sales, and potentially additional financing.