Apyx Medical NASDAQ: APYX reported second-quarter revenue growth of 22% as sales in its surgical aesthetics business increased, led by adoption of its AYON Body Contouring System, international generator sales and domestic demand for single-use handpieces.
Total revenue for the quarter ended June 30 rose to $13.9 million from $11.4 million a year earlier. Surgical aesthetics revenue increased 28% to $12.4 million, while original equipment manufacturer, or OEM, revenue fell 12% to $1.5 million as sales volume to existing customers declined.
“This marks our fourth consecutive quarter of AYON sales following its full commercial launch in September 2025,” President and Chief Executive Officer Charlie Goodwin said. He said the company has seen increasing awareness and demand for the platform in the U.S. market.
AYON Expansion and Power Liposuction Rollout
During the quarter, Apyx received expanded FDA 510(k) clearance to add power liposuction to AYON. The technology uses a reciprocating cannula intended to support fat removal while reducing the physical effort required by surgeons.
The company conducted a limited commercial launch of a reusable power-liposuction handpiece with selected surgeons in targeted markets after receiving clearance. Goodwin said feedback from physicians was “exceptional,” and Apyx began initial commercial shipments in June. He said the company plans a full commercial launch in the third quarter.
In response to analyst questions, Goodwin said AYON purchasers include physicians who had not previously used Renuvion. He said customers are primarily plastic or cosmetic surgeons treating body-contouring patients, including patients who have experienced weight loss associated with GLP-1 medications.
Goodwin said the company expects more than 95% of customers purchasing an AYON system to include the power-liposuction capability. While the handpieces and probes are reusable, they have a useful life measured in hours and require replacement over time, he said. A busy practice may use two to four handpieces annually, according to Goodwin.
The company did not disclose the number of AYON systems placed since launch. Goodwin also noted that each AYON procedure can generate recurring revenue from Renuvion handpieces as well as approximately $100 in tubing and canisters per case.
Clinical Data and Market Positioning
Management discussed two clinical studies during the call. A retrospective study involving 113 patients found that a combination of Renuvion and liposuction was associated with statistically significantly higher patient satisfaction, lower rates of abdominoplasty and surgical revision, and comparable complication rates versus liposuction-only procedures, Goodwin said.
A separate prospective study evaluating a single-session treatment combining Avéli and Renuvion showed visible improvements in cellulite and skin laxity, including reductions in dimple volume, surface area and depth. In a subset of patients, histological analysis showed increases in collagen and elastin through 180 days, according to the company.
Goodwin said Apyx views the growing use of GLP-1 medications as a long-term market opportunity, as patients who experience substantial weight loss may seek surgical treatments for loose skin, skin laxity, excess fat and other body-contouring needs.
The company also showcased Renuvion and AYON at Miami Swim Week through its “Body by Apyx” event, which featured Renuvion patients discussing their treatment experiences and walking a runway.
Margins, Losses and Liquidity
Gross profit increased 25% to $8.9 million, while gross margin expanded to 63.9% from 62.3% in the prior-year quarter. Chief Financial Officer Matt Hill said the margin improvement primarily reflected a greater contribution from surgical aesthetics revenue and product mix within OEM. Tariffs that began affecting the company in the second half of 2025 partially offset those factors.
Operating expenses rose to $10.7 million from $9.7 million. The increase included a $1 million rise in selling, general and administrative expenses and a $0.3 million increase in salaries and related costs, partly offset by a $0.3 million decrease in professional services.
Loss from operations narrowed to $1.8 million from $2.6 million. Net loss attributable to stockholders was $3.2 million, or $0.07 per share, compared with $3.8 million, or $0.09 per share, a year earlier. Adjusted EBITDA loss improved to $0.7 million from $2 million.
Net cash used in operating activities was $3.5 million during the quarter, compared with $1.2 million in the prior-year period, primarily due to working-capital changes. As of June 30, the company had $27.6 million in cash and cash equivalents. Hill said Apyx expects to maintain sufficient liquidity into 2028 based on projected AYON uptake, working-capital management and cost controls.
2026 Outlook Reaffirmed
Apyx reaffirmed its full-year 2026 revenue guidance of $59 million to $60 million, compared with $52.8 million in 2025. The outlook assumes surgical aesthetics revenue of $54 million to $55 million and OEM revenue of approximately $5 million.
- Expected 2026 gross margin: 62% to 63%
- Expected total operating expenses: no more than $45 million
- Expected 2026 OEM revenue: approximately $5 million, down from approximately $7.5 million in 2025
Goodwin said power-liposuction revenue is included in the company’s guidance for the second half of the year. He added that Apyx is pursuing possible tariff refunds, though any such refunds are not included in current guidance.
The company also announced that Stavros Vizirgianakis has been appointed executive chairman of its board. Goodwin said Vizirgianakis has supported the company’s strategic priorities, financing initiatives and operational focus over the past two years.
About Apyx Medical (NASDAQ:APYX)
Apyx Medical NASDAQ: APYX is a medical device company focused on the development and commercialization of energy-based solutions for surgical and aesthetic applications. The company's product portfolio includes devices that utilize radiofrequency energy, cold plasma and proprietary technologies designed to deliver precise thermal control and tissue treatment. Its key offerings encompass the J-Plasma technology under the Renuvion brand, which is primarily used for subdermal skin tightening and aesthetic procedures, and its portfolio of advanced energy medical devices for general surgery, gynecology and dermatology.
Leveraging its dual focus on surgical and aesthetic markets, Apyx Medical serves physicians and healthcare providers across North America, Europe and select international regions.
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