Business
CORRECTING and REPLACING Apyx Medical Corporation Reports Third Quarter of 2019 Financial Results and Updates Fiscal Year 2019 Outlook
Advanced Energy Sales of $6.1 million in Q3, up 104% year-over-year CLEARWATER, Fla.--(BUSINESS WIRE)-- In the "2019 Financial Outlook" section, the fifth
About this update from Apyx Medical Corporation
[{"type":"text","content":"\nAdvanced Energy Sales of $6.1 million in Q3, up 104% year-over-year\n\n CLEARWATER, Fla.--(BUSINESS WIRE)--\nIn the \"2019 Financial Outlook\" section, the fifth bulleted item should read: GAAP net loss in the range of $20.3 million to $19.8 million... (instead of GAAP net loss in the range of $20.3 million to $219.8 million...).\n\n\nThe corrected release reads:\n\n\nAPYX MEDICAL CORPORATION REPORTS THIRD QUARTER OF 2019 FINANCIAL RESULTS AND UPDATES FISCAL YEAR 2019 OUTLOOK\n\n\nAdvanced Energy Sales of $6.1 million in Q3, up 104% year-over-year\n\n\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 financial results for its third quarter ended September 30, 2019.\n\n\nThird Quarter 2019 Financial Summary:\n\n\n\nTotal Q3 revenue from continuing operations of $7.6 million, up 106% year-over-year.\n\n\nAdvanced Energy revenue of $6.1 million, up 104% year-over-year.\n\n\nOEM revenue of $1.5 million, up 116% year-over-year.\n\n\n\n\nTotal Q3 GAAP net loss from continuing operations of $4.3 million versus total GAAP net loss from continuing operations of $0.4 million for the third quarter of 2018.\n\n\nTotal Q3 adjusted EBITDA loss from continuing operations of $3.7 million versus adjusted EBITDA loss from continuing operations of $2.4 million for 2018.\n\n\n\nHighlights Subsequent to Quarter End:\n\n\n\nOn October 14, 2019, the Company announced that it has initiated subject enrollment in an FDA approved U.S. Investigational Device Exemption clinical study evaluating the use of its Renuvion technology in skin laxity procedures in the neck and submental region.\n\n\nOn October 14, 2019, the Company announced that it received U.S. Food and Drug Administration 510(k) clearance to market and sell the Apyx Plasma/RF Handpiece, a new addition to the Renuvion product family.\n\n\n\nManagement Comments:\n\n\n“Our performance during the third quarter was impressive and represents a continuation of the better-than-expected growth and profitability performance we have generated throughout 2019,” said Charlie Goodwin, President and Chief Executive Officer. “I am extremely proud of the organization’s ability to execute our str...