Apyx Medical (APYX) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue rose 32.4% year-over-year to $12.5 million, driven by strong AYON and Surgical Aesthetics sales, and robust international demand.

• Net loss attributable to stockholders narrowed to $2.1 million ($0.05/share), improved from $4.2 million ($0.10/share) year-over-year.

• Gross margin improved to 63.5% from 60.1% year-over-year, reflecting favorable segment and product mix.

• AYON body contouring system adoption is in early stages, with strong engagement and FDA clearance for power liposuction expected in Q2 2026.

• Lean operating structure and cost controls have reduced expenses and cash burn, enabling reinvestment in growth initiatives.

Financial highlights

• Surgical Aesthetics segment revenue increased 36% to $10.7 million; OEM segment up 13.8% to $1.8 million year-over-year.

• Gross profit rose 40% to $7.9 million, with gross margin at 63.5%.

• Operating expenses were flat at $8.8 million; loss from operations narrowed to $0.9 million from $3.1 million.

• Adjusted EBITDA loss reduced to $0.3 million from $2.4 million year-over-year.

• Cash and equivalents stood at $31.1 million as of March 31, 2026.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $59–$60 million, with Surgical Aesthetics expected at $54–$55 million and OEM at $5 million.

• Gross margin expected at 62–63% for 2026; operating expenses not to exceed $45 million.

• Cash runway projected through 2027 based on current uptake and cost controls.

• Expects OEM segment revenue to decrease over time as focus shifts to Surgical Aesthetics.

• Awaiting FDA clearance for AYON label expansion to include power liposuction in Q2 2026.