|Over a week ago|
Fly Intel: Pre-market Movers » 09:0006/2306/23/20
TBIO, APYX, MYOV, SBUX, NRZ, XAIR, WTI, IVR, AAL, SPR, CBOE, MU
Check out this morning's…
Apyx Medical's expanded international sale 'important', says Piper Sandler » 19:1406/2206/22/20
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien keeps his Overweight rating and $7 price target on Apyx Medical after its update announcing clearance to sell is J-Plasma in 5 new countries earlier today. The analyst says the approval represents an "important step" for building out the company's international customer base and should contribute a "nice chunk" of growth in the coming years. O'Brien adds that Apyx Medical shares are still down significantly year-to-date, but he sees the company remaining in sound shape financially and expects shares to recover as the pandemic begins to subside.
Apyx Medical approved to sell Helium Plasma products in 5 new countries » 16:0706/2206/22/20
Apyx Medical announced…
Apyx Medical announced that the company has obtained regulatory approval to market and sell its Helium Plasma Technology products in five new countries: Australia, Brazil, Israel, Taiwan and Thailand. The company has contracted with distributors to market and sell its products in each country. "We are very pleased to obtain regulatory approvals to market and sell our Helium Plasma Technology products in these five new countries." said Charlie Goodwin, President and Chief Executive Officer. "We have been focused on pursuing regulatory clearances in international markets as one of our key strategic priorities to enhance Apyx Medical's long-term growth profile. This strategy is based on the prudent expansion of our commercial footprint outside the U.S. by securing the requisite product registrations for our Helium Plasma Technology products, and identifying strong distribution partners in each respective market. While we expect each of these new countries to contribute to our growth profile in the coming years, we are especially excited by the growth opportunity we have in Brazil, which is estimated to be the second largest cosmetic surgery market in the world in terms of both the total number of procedures performed and the number of surgeons. We shipped an initial commercial order to our distributor in Brazil in late-June and we expect to ship our initial commercial orders to each of the other new countries over the second half of 2020."
|Over a month ago|
Apyx Medical not providing FY20 guidance 'at this time' » 07:0805/1105/11/20
"Given the challenges and uncertainties posed by the ongoing global pandemic, Apyx Medical will not be providing full year 2020 financial guidance at this time. Assuming a more normalized business environment prevails at the time of our second quarter results conference call in August, we plan to provide updated expectations at that time."
Apyx Medical reports Q1 EPS (6c), consensus (25c) » 07:0805/1105/11/20
Reports Q1 revenue $5M,…
Reports Q1 revenue $5M, consensus $5.2M. "We reported first quarter sales results at the low-end of the guidance range we provided on March 16, 2020," said Charlie Goodwin, President and CEO. "While the first quarter revenue performance in our OEM business was in-line with our expectations, our revenue performance in our global Advanced Energy business was impacted significantly by the COVID-19 pandemic. Through the first two months of 2020, our Advanced Energy business was performing well with revenue up more than 30% year-over-year. Beginning in March, demand trends from our cosmetic surgery customers around the world slowed materially as a result of the preventative or protective actions taken by governments in each of our primary international markets. In the U.S., we saw a rapid deterioration in procedure trends over the last two weeks of March as states and cities implemented restrictions on elective procedures and temporary closure of non-essential businesses due to COVID-19. In response to the COVID-19 pandemic we acted quickly to protect the health and safety of our employees, patients, surgeon customers and international distributor partners around the world. We have instituted protocols intended to reduce the risk to our manufacturing employees and their families and all non-essential employees are working remotely. We have also taken preemptive steps to curtail spending, including implementing hiring restrictions, reducing most discretionary spending, reducing capital expenditures, and delaying certain R&D projects and clinical research studies. I am proud of the resolve our organization has demonstrated during these incredibly challenging times and appreciate their continued efforts to support our customers and ensure business continuity." Mr. Goodwin continued: "We continue to monitor the crisis caused by COVID-19 in our primary markets and, to date, the impacts of the containment efforts and the restrictions on elective procedures have had a significant impact on our global Advanced Energy sales. There is a significant amount of uncertainty as to when these actions will be lifted, and when patients will choose to undergo elective cosmetic procedures once our customers' practices are allowed to re- open. In the interim, we have a strong balance sheet with more than $51 million in cash at quarter-end and targeted plans to reduce near-term spending in this period of business disruption that together will allow the organization to continue to build on the progress we have made in recent years to enhance this Company's foundation for future growth. We have built a great team at Apyx Medical and we are intently focused on ensuring we are well positioned to return to executing on our growth strategy to expand our share global cosmetic surgery market as soon as the post-COVID recovery begins."
|Over a quarter ago|
Apyx Medical price target lowered to $7 from $10 at Piper Sandler » 05:3403/1703/17/20
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien lowered the firm's price target on Apyx Medical to $7 from $10 and keeps an Overweight rating on the shares. The company's guidance for Q1 was much lower than expected and the outlook for the remainder of 2020 was removed both due to the effect of the coronavirus, O'Brien tells investors in a research note. The analyst anticipates Apyx's business will be "quite soft" in Q2 and Q3 as a result of the virus but that a return to significant growth is in store "on the other side of the outbreak."
Apyx Medical to restate previously issued financial statements » 16:0703/1603/16/20
Apyx Medical announced it…
Apyx Medical announced it will be restating its previously issued consolidated financial statements for the twelve months ended December, 31 2018 and the quarterly statements for the three and nine months ended September 30, 2018 and three months ended March 31, 2019. This decision was approved by the Company's Board of Directors upon the recommendation of the Company's Audit Committee, and after consultation with Management and the Company's predecessor independent registered public accounting firm. Investors should no longer rely upon the Company's previously released financial statements for the time periods cited above. Similarly, related press releases, earnings releases, and investor communications describing the Company's financial statements for these periods should no longer be relied upon. The decision to restate these financial statements is based on the conclusion that the financial statements for the aforementioned financial periods cannot be relied upon as a result of the aggregation of errors identified by management and the Company's new accounting personnel during the preparation of its fiscal year 2019 Form 10-K and third quarter 2019 Form 10-Q.
Apyx sees Q1 revenue $5M-$5.6M, consensus $7.82M » 16:0703/1603/16/20
Sees Q1 adjusted EBITDA…
Sees Q1 adjusted EBITDA ($7.8M)-($7.4M).
Apyx reports Q4 EPS (16c), consensus (19c) » 16:0603/1603/16/20
Reports Q4 revenue…
Reports Q4 revenue $8.38M, consensus $7.86M. "We are excited to bring 2019 to a strong close, with revenue growth of 58% in our Advanced Energy business during the fourth quarter, which was fueled by high demand for our Helium Plasma Technology products from customers in the U.S. cosmetic surgery market as well as our international distributors," said Charlie Goodwin, President and Chief Executive Officer. "In addition to our impressive fourth quarter sales performance, we were also pleased to announce the initiation of enrollment in two new clinical studies evaluating use of our Renuvion technology in dermal resurfacing procedures and skin laxity procedures during the fourth quarter, which represent important milestones in our journey to obtain new clinical indications for specific cosmetic surgery procedures."
Apyx Medical management to meet with Craig-Hallum » 04:5501/1401/14/20
Meeting to be held in San…
Meeting to be held in San Francisco, CA on January 14 hosted by Craig-Hallum.