Q2 2024 Apyx Medical Corp Earnings Call Transcript
Key Points
- OEM product sales increased by 29% year-over-year, exceeding expectations.
- Handpiece sales grew by more than 20% year-over-year, driven by demand from both new and existing users.
- The company is actively engaging with prospective customers to facilitate generator adoption through creative financing solutions.
- Apyx Medical Corp (APYX) has a strong portfolio of clinical evidence supporting the efficacy and safety of its Renuvion technology.
- The company is expanding its direct-to-consumer initiatives, resulting in increased social media presence and engagement.
- Total revenue decreased by 10% year-over-year to $12.1 million.
- Sales of advanced energy products decreased by 17% year-over-year due to a challenging cosmetic surgery market.
- Gross profit margin declined from 68.4% to 61.7%, primarily due to changes in sales mix.
- Net loss attributable to stockholders increased significantly to $6.6 million, or $0.19 per share.
- The challenging capital equipment environment is expected to persist, impacting generator sales throughout the year.
Hello, and welcome, ladies and gentlemen, to the second quarter of fiscal year 2024 earnings conference call for Apyx Medical Corp. (Operator instructions) Please note that this conference call is being recorded and that the recording will be available on the company's website for replay shortly.
Before we begin, I would like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements that are based on the current expectations of management and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated, including without limitation, those identified in the Risk Factors section of our most recent annual report on Form 10-K, our most recent 10-Q filings and the company's other filings with the Securities and Exchange Commission. Such factors may be updated from time to time in our filings with the SEC, which are available on our website.
We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise.
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