Apyx Medical Corporation Common Stock (APYX)

FairStock Score: 41/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Apyx as a Graham-style bargain hunter, and the numbers do not yet qualify. The company sells electrosurgical devices for surgical aesthetics and OEM customers, but it has not earned a profit in the last four years. In fiscal 2025, the year ended 2025-12-31, revenue was $52.8 million and net income was a loss of $11.2 million. That was an improvement from fiscal 2024, the year ended 2024-12-31, when revenue was $48.1 million and net loss was $23.5 million, but the business is still consuming cash: FairStock calculates trailing free cash flow of negative $11.0 million, a negative 10.1% yield on the $109.5 million market cap at the 2026-10-13 close. The latest quarter, fiscal Q2 2026 ended 2026-06-30, showed revenue of $13.9 million versus $11.4 million in fiscal Q2 2025, the quarter ended 2025-06-30, and the net loss narrowed to $3.2 million from $3.8 million. That is progress, but not profitability. Balance-sheet risk is serious: FairStock calculates debt-to-equity of 3.57, return on equity of negative 90.69%, and an Altman Z-Score of 0.14, which is in distress territory. The Piotroski F-Score of 2/9 confirms weak financial momentum. A medical device company can have regulatory and switching-cost advantages, but I cannot see a durable moat in these figures. At $2.60, with a price-to-book of 10.40, I am not being paid for the uncertainty. I would want evidence of sustainable positive free cash flow and a much stronger balance sheet before calling this a value opportunity.

In plain English: Apyx Medical makes surgical and aesthetic devices that use energy to cut and treat tissue. Sales are growing, but the company still loses money, burns cash, and carries a lot of debt. At the 2026-10-13 closing price of $2.60, the shares do not look cheap compared with those weak financial results.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer