APYX - Apyx Medical narrows FY revenue guidance guides Q4 and FY revenue outlook below estimates

January, 10 2023 07:51 AM Apyx Medical Corporation

Apyx Medical ( NASDAQ: APYX ) has reported preliminary revenue results for the Q4 and FY22.
Q4 total revenue is anticipated to be in a range of $12.1M to $12.5M, representing a decline of 28% to 26% Y/Y, vs consensus of $13.36M .
Q4 Advanced Energy revenue in a range of $10.1M to $10.5M, representing a decline of 33% to 30% Y/Y.
Q4 OEM revenue of ~$2.0M, representing growth of 12% Y/Y.
FY total revenue now expected in a range of $44.0M to $44.4M, representing a decline of 9% to 8% Y/Y, from the prior guidance of $44.8M to $47.9M , vs consensus of $45.25M .
FY Advanced Energy revenue in a range of $36.4M to $36.8M, representing a decline of 15% to 14% Y/Y.
FY OEM revenue of ~$7.6M, representing growth of 37% Y/Y.
CEO update: “.....In 2023, we expect to deliver growth in global sales of our Advanced Energy products of more than 35% year-over-year, fueled by strong execution on our commercial and regulatory objectives and improving generator demand trends as we move through fiscal 2023. We remain focused on maximizing our resources through prudent expense management and have recently implemented activities to eliminate certain operating expenses to improve cash flow, while preserving our capabilities as an organization. We also continue to actively evaluate all potential options to enhance our liquidity and financial condition.”

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