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Apyx Medical Corporation Reports First Quarter 2022 Financial Results and Updates Full Year 2022 Financial Outlook
Advanced Energy sales increased 41% year-over-year in Q1 CLEARWATER, Fla.--(BUSINESS WIRE)-- Apyx Medical Corporation (NASDAQ:APYX) (the “Company”), a maker
About this update from Apyx Medical Corporation
[{"type":"text","content":"\nAdvanced Energy sales increased 41% year-over-year in Q1\n\n CLEARWATER, Fla.--(BUSINESS WIRE)--\nApyx Medical Corporation (NASDAQ:APYX) (the “Company”), a maker of medical devices and supplies and the developer of Helium Plasma Technology, marketed and sold as Renuvion® and J-Plasma® in surgical markets, today reported financial results for its first quarter ended March 31, 2022, and updated financial expectations for the full year ending December 31, 2022.\n\nFirst Quarter 2022 Financial Summary:\n\n\nTotal revenue of $12.5 million, up 45% year-over-year.\n\n\nAdvanced Energy revenue of $10.8 million, up 41% year-over-year.\n\n\nOEM revenue of $1.7 million, up 72% year-over-year.\n\n\n\n\nNet loss attributable to stockholders of $5.9 million, compared to $4.9 million for the first quarter of 2021.\n\n\nAdjusted EBITDA loss of $4.0 million, compared to adjusted EBITDA loss of $3.4 million for the first quarter of 2021.\n\n\nFirst Quarter 2022 Operating Summary:\n\n\nOn February 17, 2022, the Company announced the publication of a peer-reviewed article in the journal, Lasers in Surgery and Medicine, the official journal of the American Society for Laser Medicine & Surgery, featuring the results of its U.S. IDE clinical study evaluating the Renuvion Dermal Handpiece using Apyx’s Helium Plasma Technology for dermal resurfacing procedures.\n\n\nOn February 17, 2022, the Company announced the submission of a 510(k) premarket notification (“510(k) submission”) to the U.S. Food and Drug Administration, which is intended to obtain a general indication for use of the Renuvion Dermal handpiece in dermatological procedures requiring ablation and resurfacing of the skin.\n\n\nOn March 14, 2022, the Company announced it had been notified by the U.S. Food and Drug Administration (“FDA”; “Agency”) that the Agency intended to post a Medical Device Safety Communication related to the Company’s Advanced Energy products. The Safety Communication was subsequently posted by the FDA on March 14, 2022.\n\n\nHighlights & Developments Subsequent to Quarter End:\n\n\nOn April 4, 2022, the Company announced it had submitted a 510(k) premarket notification to the U.S. Food and Drug Administration. The 510(k) submission is intended to expand its general indication for the Renuvion APR Handpiece to include a specific indication for use in subcutaneous der...