APYX - Apyx Medical beats Q1 top and bottom line estimates; updates FY23 outlook

2023-05-11 07:10:37 ET

• Apyx Medical press release ( NASDAQ: APYX ): Q1 GAAP EPS of -$0.10 beats by $0.04 .
• Revenue of $12.1M (-3.2% Y/Y) beats by $1.26M .
• Adjusted EBITDA loss of $4.0 million, compared to $4.0 million for the first quarter of 2022.

• The Company is updating financial guidance for the year ending December 31, 2023 to:

  • Total revenue in the range of $59.0 million to $62.0 million vs. consensus of $58.05B, representing growth of approximately 33% to 39% year-over-year, compared to total revenue of $44.5 million for the year ended December 31, 2022. The Company’s prior guidance range for total revenue was $58.0 million to $61.0 million, representing growth of 30% to 37% year-over-year.
  • Advanced Energy revenue in the range of $51.0 million to $54.0 million, representing growth of approximately 39% to 47% year-over-year, compared to Advanced Energy revenue of $36.8 million for the year ended December 31, 2022. The Company’s prior guidance range for Advanced Energy revenue was $50.0 million to $53.0 million, representing growth of approximately 36% to 44% year-over-year.
  • OEM revenue of approximately $8 million, representing growth of approximately 4% year-over-year, compared to $7.7 million for the year ended December 31, 2022. This is unchanged versus the Company’s prior guidance assumptions.
  • Net loss attributable to stockholders of approximately $10.5 million, compared to $23.2 million for the year ended December 31, 2022. The Company’s prior guidance for net loss attributable to stockholders was approximately $14.0 million.

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