Business
Apyx Medical Corporation Reports Preliminary Full Year and Fourth Quarter 2020 Revenue Results
Advanced Energy Sales of approximately $9.5 to $9.8 million in Q4, up 39% to 43% year-over-year CLEARWATER, Fla.--(BUSINESS WIRE)-- Apyx Medical Corporation
About this update from Apyx Medical Corporation
[{"type":"text","content":"\nAdvanced Energy Sales of approximately $9.5 to $9.8 million in Q4, up 39% to 43% year-over-year \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® in the cosmetic surgery market and J-Plasma® in the hospital surgical market, today reported preliminary revenue results for the full year and fourth quarter ended December 31, 2020.\n\nPreliminary Fourth Quarter 2020 Revenue Summary:\n\n\nTotal Q4 revenue in a range of approximately $10.9 to $11.3 million, up approximately 30% to 35% year-over-year.\n\n\nAdvanced Energy revenue in a range of approximately $9.5 to $9.8 million, up approximately 39% to 43% year-over-year.\n\n\nOEM revenue in a range of approximately $1.35 to $1.45 million, down approximately 5% to 11% year-over-year.\n\n\n\n\nPreliminary Full Year 2020 Revenue Summary:\n\n\nTotal revenue in a range of approximately $27.1 to $27.5 million, down approximately 3% to 4% year-over-year.\n\n\nAdvanced Energy revenue in a range of approximately $21.9 to $22.2 million, down approximately 2% to 4% year-over-year.\n\n\nOEM revenue in a range of approximately $5.25 to $5.35 million, down approximately 4% to 5% year-over-year.\n\n\n\n\nManagement Comments:\n\n“Our fourth quarter preliminary total sales growth of approximately 30% to 35% year-over-year was driven by approximately 39% to 43% growth in our Advanced Energy business as a result of strong demand for our innovative Helium Plasma Technology products by our cosmetic surgery customers in both the U.S. and international markets,” said Charlie Goodwin, President and Chief Executive Officer. “Despite the continued challenges in our operating environment due to the impacts of the COVID-19 pandemic, we saw strong utilization of our Renuvion® handpieces which led to sales of handpieces increasing 80% year-over-year in the U.S. and increasing 75% year-over-year outside the U.S. in the fourth quarter. While our global handpiece sales trends in the fourth quarter were impressive, the pace of the global recovery continues to impact the demand for generators. Generator sales increased more than 20% year-over-year in the fourth quarter driven by 80% sales growth to international customers, including shipments to customers...