Overview

• Surgical aesthetics firm's Q4 revenue rose 34.7% yr/yr, beating analyst expectations

• Adjusted EBITDA for Q4 was positive, beating analyst estimates

• Company scaling U.S. launch of AYON Body Contouring System amid strong demand

Outlook

• Apyx Medical expects FY2026 total revenue between $57.5 mln and $58.5 mln

• Company anticipates FY2026 Surgical Aesthetics revenue between $53 mln and $54 mln

• Apyx Medical projects FY2026 OEM revenue to be approximately $4.5 mln

Result Drivers

• AYON LAUNCH - Scaling U.S. commercial launch of AYON Body Contouring System to meet strong market demand

• SURGICAL AESTHETICS GROWTH - Surgical Aesthetics revenue increased 38.1% in Q4 2025, driven by U.S. sales of AYON

• OEM REVENUE INCREASE - OEM revenue rose 15.6% in Q4 2025, but future focus remains on Surgical Aesthetics

Company press release: ID:nGNX5wHZMQ

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Sales	Beat	$19.16 mln	$18.40 mln (4 Analysts)
Q4 EPS		-$0.03
Q4 Net Income		-$1.24 mln
Q4 Adjusted EBITDA	Beat	$689,000	$3,000 (3 Analysts)
Q4 Gross Margin		62.60%
Q4 Income From Operations		$11,000
Q4 Pretax Profit		-$1.15 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Apyx Medical Inc is $5.50, about 60.3% above its March 9 closing price of $3.43

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