Overview

• US surgical aesthetics firm's Q1 revenue rose 32% yr/yr, beating analyst expectations

• Q1 adjusted EBITDA loss narrowed and beat analyst expectations

• Company raised full-year 2026 revenue guidance on strong Surgical Aesthetics and international sales

Outlook

• Apyx Medical raises 2026 total revenue guidance to $59.0 mln-$60.0 mln, up from $57.5 mln-$58.5 mln

• Company expects 2026 Surgical Aesthetics revenue of $54.0 mln-$55.0 mln, up from $53.0 mln-$54.0 mln

• Apyx Medical expects OEM revenue of about $5.0 mln in 2026, up from $4.5 mln prior guidance

Result Drivers

• SURGICAL AESTHETICS GROWTH - Revenue growth driven by increased adoption of AYON in the U.S., higher international sales of Renuvion generators, and greater volume of single-use handpieces

• INTERNATIONAL SALES - International sales exceeded expectations, helped by Apyx One Console and handpiece sales in South Korea after regulatory approval

• GROSS MARGIN IMPROVEMENT - Higher gross margin attributed to greater share of Surgical Aesthetics in sales mix and product mix within OEM segment

Company press release: ID:nGNX3t3Dzg

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Sales	Beat	$12.49 mln	$10.87 mln (4 Analysts)
Q1 EPS		-$0.05
Q1 Net Income		-$2.14 mln
Q1 Adjusted EBITDA	Beat	-$326,000	-$3.31 mln (3 Analysts)
Q1 Gross Margin		63.50%
Q1 Income From Operations		-$911,000
Q1 Pretax Profit		-$2 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Apyx Medical Inc is $6.00, about 105.5% above its May 6 closing price of $2.92

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