APYX - Apyx Medical shares surge on Advanced Energy business driven Q2 beat

Apyx Medical shares surge (APYX +16.6%) after the company reported second-quarter results that beat Wall Street estimates, helped by the strength in its Advanced Energy business. Advanced Energy revenue increased 248% YOY to $10M in the second-quarter. "...we saw impressive growth in global sales of our Advanced Energy handpieces, which increased by over 270% year-over-year, driven by utilization-based demand both domestically and internationally," CEO Charlie Goodwin said. The company's total quarterly revenue went up 160% to $11.22M, beating analysts' average estimate by $2.36M. Net loss in the quarter narrowed to $4M, compared to net loss of $4.7M in the same period last year. As of June 30, 2021, the company had cash and cash equivalents of $34.7M, compared to $41.9M as of December 31, 2020. Previously (Aug. 12): Apyx Medical EPS beats by $0.03, beats on revenue.

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Apyx Medical shares surge on Advanced Energy business driven Q2 beat