Apyx Medical (APYX) financial statements
Apyx Medical reported revenue of $53M in fiscal 2025, up 22.0% a year over 9 years.
Net income was -$11M and the operating margin -12.2%, against -129.2% in 2016.
Free cash flow was -$9M.
The diluted share count rose 50% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Apyx Medical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9M | $10M | $17M | $28M | $28M | $49M | $45M | $52M | $48M | $53M |
| Cost of revenue | $4M | $3M | $6M | $9M | $10M | $15M | $15M | $19M | $19M | $20M |
| Gross profit | $5M | $7M | $11M | $19M | $18M | $34M | $29M | $34M | $29M | $33M |
| Research and development | $1M | $2M | $3M | $4M | $4M | $4M | $5M | $5M | $5M | $3M |
| Selling, general and admin | $6M | $9M | $9M | $14M | $12M | $19M | $20M | $22M | $19M | $16M |
| Operating income | -$11M | -$14M | -$14M | -$21M | -$20M | -$14M | -$24M | -$17M | -$19M | -$6M |
| Interest expense | $158,000 | $136,000 | $104,000 | $8,000 | $46,000 | $10,000 | $15,000 | $2M | $6M | $6M |
| Pre-tax income | -$11M | -$14M | -$15M | -$20M | -$19M | -$15M | -$23M | -$21M | -$23M | -$11M |
| Income tax | $64,000 | -$156,000 | -$4M | -$130,000 | -$8M | $380,000 | $367,000 | -$2M | $252,000 | $270,000 |
| Net income | -$12M | -$5M | $63M | -$20M | -$12M | -$15M | -$23M | -$19M | -$23M | -$11M |
| EPS (diluted) | -$0.15 | -$0.17 | $1.83 | -$0.58 | -$0.35 | -$0.44 | -$0.67 | -$0.54 | -$0.66 | -$0.27 |
| Diluted shares | 27M | 31M | 34M | 34M | 34M | 34M | 35M | 35M | 36M | 41M |
| Gross margin | 58.0% | 68.0% | 65.2% | 67.6% | 63.2% | 69.3% | 65.4% | 64.5% | 61.0% | 62.5% |
| Operating margin | -129.2% | -135.7% | -86.0% | -73.9% | -72.5% | -29.8% | -52.9% | -33.0% | -39.2% | -12.2% |
| Net margin | -131.0% | -49.5% | 377.7% | -69.8% | -42.9% | -31.3% | -52.1% | -35.7% | -48.8% | -21.2% |
Balance sheet
Fiscal years, from Apyx Medical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $14M | $10M | $78M | $59M | $82M | $31M | $10M | $44M | $32M | $32M |
| Receivables | $5M | $5M | $5M | $8M | $8M | $13M | $11M | $14M | $15M | $17M |
| Inventory | $6M | $4M | $5M | $5M | $4M | $7M | $12M | $10M | $8M | $9M |
| Total current assets | $27M | $23M | $90M | $77M | $66M | $61M | $43M | $70M | $56M | $58M |
| Property, plant and equipment | $6M | $6M | $6M | $7M | $7M | $7M | $7M | $2M | $2M | $2M |
| Goodwill | $185,000 | $185,000 | $185,000 | — | — | — | — | — | — | — |
| Total assets | $35M | $31M | $96M | $85M | $74M | $69M | $52M | $79M | $65M | $67M |
| Total current liabilities | $5M | $6M | $9M | $12M | $9M | $13M | $12M | $13M | $11M | $12M |
| Long-term debt | $3M | $2M | $0 | — | — | — | $0 | $33M | $34M | $35M |
| Total liabilities | $9M | $9M | $9M | $13M | $10M | $15M | $14M | $52M | $51M | $52M |
| Shareholders' equity | $26M | $22M | $87M | $71M | $64M | $54M | $38M | $27M | $14M | $15M |
| Net debt | -$12M | -$7M | -$17M | -$59M | -$42M | -$31M | -$10M | -$10M | $2M | $3M |
Cash flow
Fiscal years, from Apyx Medical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3M | -$4M | -$21M | -$18M | -$16M | -$10M | -$20M | -$5M | -$18M | -$8M |
| Capital spending | $286,000 | $624,000 | $363,000 | $1M | $581,000 | $723,000 | $1M | $533,000 | $722,000 | $1M |
| Free cash flow | -$3M | -$4M | -$21M | -$20M | -$17M | -$11M | -$21M | -$6M | -$19M | -$9M |
| Stock-based compensation | $809,000 | $871,000 | $2M | $4M | $4M | $5M | $7M | $5M | $4M | $2M |
| Net borrowing | — | -$239,000 | -$3M | $0 | — | — | $0 | $43M | $0 | — |
| Free cash flow margin | -35.4% | -42.3% | -127.9% | -70.0% | -60.1% | -23.0% | -47.8% | -11.0% | -39.0% | -17.2% |
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Open APYX in InvestinglyQuestions
What was Apyx Medical's revenue in 2025?
$53M in fiscal 2025, from its 10-K filing.
How much free cash flow does Apyx Medical generate?
-$9M in fiscal 2025 (operating cash flow minus capital spending).
From Apyx Medical's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.