Apyx Medical surges after reporting first profitable quarter
Medical device maker beats earnings estimates on strong AYON body contouring sales
Apyx Medical Corporation shares jumped nearly 10% on Tuesday after the medical device company reported its first profitable quarter and sharply raised full-year guidance, driven by stronger-than-expected sales of its new AYON Body Contouring System.
The Clearwater, Florida-based company reported a net loss of $1.3 million, or $0.03 per share, for the fourth quarter of 2025, compared with a loss of $4.6 million, or $0.12 per share, in the same period a year earlier. The results significantly beat analyst expectations, which had called for a loss of $0.06 per share.
Revenue surged 35% year-over-year to a record $19.2 million, well above consensus estimates of approximately $12 million. Perhaps most importantly for investors, Apyx achieved its first quarter of positive adjusted EBITDA of $0.7 million, compared with an adjusted EBITDA loss of $2.2 million in the prior-year quarter.
The company's Surgical Aesthetics segment drove the outperformance, with revenue increasing 38.1% to $16.7 million. U.S. Surgical Aesthetics sales grew nearly 50% from the prior year period, fueled by the commercial launch of the AYON Body Contouring System in September 2025.
"Customer demand for AYON has continued to exceed our internal expectations," Apyx Medical stated in its earnings announcement. "We are scaling U.S. commercial launch efforts to meet this demand."
Building on the momentum, Apyx raised its fiscal year 2026 revenue guidance to $57.5 million to $58.5 million, representing approximately 9% year-over-year growth. The company expects Surgical Aesthetics revenue between $53.0 million and $54.0 million, with OEM revenue of approximately $4.5 million. Management also forecasts operating expenses to be less than $45.0 million for the full year.
Analysts responded positively to the results, with several raising price targets to $6.00, representing roughly 75% upside from current levels. Of the five analysts covering the stock, four rate it a buy, with one holding a neutral rating.
Looking ahead, investors are watching for potential regulatory clearance of AYON for power liposuction applications. The company submitted a 510(k) premarket notification to the FDA in October 2025 and now anticipates potential clearance by mid-2026. Such approval would significantly expand the market opportunity for the AYON platform.
Apyx Medical specializes in energy-based medical devices for cosmetic and surgical markets. The company's technology portfolio includes radiofrequency and plasma-based devices designed for minimally invasive procedures, positioning it to benefit from growing consumer demand for aesthetic treatments.
The stock has been volatile over the past 12 months, trading in a range between $0.76 and $4.50. Tuesday's rally brought shares to $3.43, still well below the 52-week high but representing a significant recovery from the lows. The company's market capitalization stands at approximately $128 million.