Apyx Medical Corp (APYX)

NASDAQHealth CareMedical - SpecialtiesSnapshot 2026-10-23

$2.37-1.66%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Apyx Medical Corp’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	19.73M
EPS	—	-0.05
FY 2026 · Annual
OEM revenue	About $5M	—
Raised revenue	$59M–$60M	—
Reaffirmed revenue	$59M–$60M	—
Revenue	—	59.41M
Surgical Aesthetics revenue	$54M–$55M	—
EPS	—	-0.265
Operating expenses	Under $45M	—
FY 2027 · Annual
Revenue	—	65.98M
EPS	—	-0.252

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Operating income improves from negative $911,000 in Q1 2026	A primary condition in Apyx Medical Corp's published investment case. The stated target is Operating income improves toward break-even or better.	Under Pressure	Operating income remains below negative $911,000 over next year	Operating income: $-1.806M FY2026-Q2; GAAP. Published target: Operating income improves toward break-even or better. Target period is not explicitly aligned with this observation. Source published Aug 6, 2026-1,806,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 51440459-8e7a-4275-98db-bb86613feca3. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Cash flow from operations turns positive	Management aims to improve profits and cash flow.	Broken	Cash flow from operations remains negative over next year	Cash from operations: $-3.49M FY2026-Q2; GAAP. Published target: > 0. Target period is not explicitly aligned with this observation. Source published Aug 6, 2026-3,490,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Total revenue reaches at least $59 million in FY2026	A primary condition in Apyx Medical Corp's published investment case. The stated target is >= $59 million.	Intact	Total revenue falls below $59 million in FY2026	Revenue: $13.884M FY2026-Q2; GAAP. Published target: >= $59 million. Target period is not explicitly aligned with this observation. Source published Aug 6, 202613,884,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 51440459-8e7a-4275-98db-bb86613feca3. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 recent quarters. Total revenue grew from $20.8 million in first half 2025 to $26.4 million in first half 2026, driven by 28% growth in the Surgical Aesthetics segment to $12.4 million in 2026-Q2. Management reaffirmed FY2026 revenue guidance of $59.0 million to $60.0 million in 2026-Q2, indicating delivery on growth expectations. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPSUnavailable

Unavailable → Unavailable · observed estimates

FY2027 revenueUnavailable

Unavailable → Unavailable · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	3 / 3
2026-07-25	$-0.25	$66,115,400	5 / 5
2026-07-26	$-0.25	$66,115,400	5 / 5
2026-07-27	Unavailable	Unavailable	3 / 3
2026-07-28	$-0.25	$66,115,400	5 / 5
2026-07-29	$-0.25	$66,115,400	5 / 5
2026-07-30	$-0.25	$66,115,400	5 / 5
2026-07-31	$-0.25	$66,115,400	5 / 5
2026-08-01	$-0.25	$66,115,400	5 / 5
2026-08-02	$-0.25	$66,115,400	5 / 5
2026-08-03	$-0.25	$66,115,400	5 / 5
2026-08-04	$-0.25	$66,115,400	5 / 5
2026-08-05	$-0.25	$66,115,400	5 / 5
2026-08-06	$-0.25	$66,115,400	5 / 5
2026-08-07	Unavailable	Unavailable	3 / 3
2026-08-08	$-0.25	$66,115,400	5 / 5
2026-08-09	$-0.25	$66,115,400	5 / 5
2026-08-10	$-0.25	$66,115,400	5 / 5
2026-08-11	$-0.26	$66,031,800	5 / 5
2026-08-12	$-0.26	$66,031,800	5 / 5
2026-08-13	$-0.26	$66,031,800	5 / 5
2026-08-14	Unavailable	Unavailable	3 / 3
2026-08-15	Unavailable	Unavailable	3 / 3
2026-08-16	Unavailable	Unavailable	3 / 3
2026-08-17	Unavailable	Unavailable	3 / 3
2026-08-18	Unavailable	Unavailable	3 / 3
2026-08-19	Unavailable	Unavailable	3 / 3
2026-08-20	Unavailable	Unavailable	3 / 3
2026-08-21	Unavailable	Unavailable	3 / 3
2026-08-22	Unavailable	Unavailable	3 / 3
2026-08-23	Unavailable	Unavailable	3 / 3
2026-08-24	Unavailable	Unavailable	3 / 3
2026-08-25	Unavailable	Unavailable	3 / 3
2026-08-26	Unavailable	Unavailable	3 / 3
2026-08-27	Unavailable	Unavailable	3 / 3
2026-08-28	Unavailable	Unavailable	3 / 3
2026-08-29	Unavailable	Unavailable	3 / 3
2026-08-30	Unavailable	Unavailable	3 / 3
2026-08-31	Unavailable	Unavailable	3 / 3
2026-09-01	Unavailable	Unavailable	3 / 3
2026-09-02	Unavailable	Unavailable	3 / 3
2026-09-03	Unavailable	Unavailable	3 / 3
2026-09-04	Unavailable	Unavailable	3 / 3
2026-09-05	Unavailable	Unavailable	3 / 3
2026-09-06	Unavailable	Unavailable	3 / 3
2026-09-07	Unavailable	Unavailable	3 / 3
2026-09-08	Unavailable	Unavailable	3 / 3
2026-09-09	Unavailable	Unavailable	3 / 3
2026-09-10	Unavailable	Unavailable	3 / 3
2026-09-11	Unavailable	Unavailable	3 / 3
2026-09-12	Unavailable	Unavailable	3 / 3
2026-09-13	Unavailable	Unavailable	3 / 3
2026-09-14	Unavailable	Unavailable	3 / 3
2026-09-15	Unavailable	Unavailable	3 / 3
2026-09-16	Unavailable	Unavailable	3 / 3
2026-09-17	Unavailable	Unavailable	3 / 3
2026-09-18	Unavailable	Unavailable	3 / 3
2026-09-19	Unavailable	Unavailable	3 / 3
2026-09-20	Unavailable	Unavailable	3 / 3
2026-09-21	Unavailable	Unavailable	3 / 3
2026-09-22	Unavailable	Unavailable	3 / 3
2026-09-23	Unavailable	Unavailable	3 / 3
2026-09-24	Unavailable	Unavailable	3 / 3
2026-09-25	Unavailable	Unavailable	3 / 3
2026-09-26	Unavailable	Unavailable	3 / 3
2026-09-27	Unavailable	Unavailable	3 / 3
2026-09-28	Unavailable	Unavailable	3 / 3
2026-09-29	Unavailable	Unavailable	3 / 3
2026-09-30	Unavailable	Unavailable	3 / 3
2026-10-01	Unavailable	Unavailable	4 / 4
2026-10-02	Unavailable	Unavailable	4 / 4
2026-10-03	Unavailable	Unavailable	4 / 4
2026-10-04	Unavailable	Unavailable	4 / 4
2026-10-05	Unavailable	Unavailable	4 / 4
2026-10-06	Unavailable	Unavailable	4 / 4
2026-10-07	Unavailable	Unavailable	4 / 4
2026-10-08	Unavailable	Unavailable	4 / 4
2026-10-09	Unavailable	Unavailable	4 / 4
2026-10-10	Unavailable	Unavailable	4 / 4
2026-10-11	Unavailable	Unavailable	4 / 4
2026-10-12	Unavailable	Unavailable	4 / 4
2026-10-13	Unavailable	Unavailable	4 / 4
2026-10-14	Unavailable	Unavailable	4 / 4
2026-10-15	Unavailable	Unavailable	4 / 4
2026-10-16	Unavailable	Unavailable	4 / 4
2026-10-17	Unavailable	Unavailable	4 / 4
2026-10-18	Unavailable	Unavailable	4 / 4
2026-10-19	Unavailable	Unavailable	4 / 4
2026-10-20	Unavailable	Unavailable	4 / 4
2026-10-21	Unavailable	Unavailable	4 / 4
2026-10-22	Unavailable	Unavailable	4 / 4
2026-10-23	Unavailable	Unavailable	4 / 4
2026-10-24	Unavailable	Unavailable	4 / 4

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	5	0	0
2026-06-01	5	0	0
2026-07-01	5	0	0
2026-08-01	5	0	0
2026-09-01	6	0	0
2026-10-01	6	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 6 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Maxim GroupSep 29

$6.00New observation · no comparable prior

$0$3.30$6.60

0 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Operating income improves from negative $911,000 in Q1 2026Published status: Under Pressure
Cash flow from operations turns positivePublished status: Broken
Total revenue reaches at least $59 million in FY2026Revenue: $13.884M

Next proof point

Nov 5, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.9%Typical daily move · historical

Downside history

-51.4%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Apyx Medical Corp outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-risk growth and execution story, not an established profitable compounder. The long-term thesis is on watch: recent signals have improved mildly, but financial performance remains weak relative to the industry cohort.

What's priced into Apyx Medical Corp

The valuation model describes APYX as cheap versus peers, while also indicating that expectations sit well below its model benchmark; confidence in that assessment is medium. The snapshot labels expectations as justified and reports low valuation fragility, but this does not resolve the business risks created by losses and weak recent performance.

What the fundamentals likely do

Near term, revenue growth is a positive: first-half revenue rose from $20.8 million in 2025 to $26.4 million in 2026, and management reaffirmed FY2026 guidance of $59.0 million to $60.0 million. Surgical Aesthetics grew 28% in 2026-Q2, while AYON’s power liposuction feature has cleared FDA review and entered a limited launch; adoption remains to be shown. Losses, consecutive earnings misses, and a 36% estimated miss probability leave meaningful near-term execution risk.

What Apyx Medical Corp hinges on

The multi-year thesis depends on sustained revenue delivery and broader adoption of AYON’s expanded capabilities. A guidance cut would add pressure, while continued weakness in jobs data could weigh on cyclical healthcare names; stronger results and guidance from sector peers could support the backdrop. Clinical evidence for combined cellulite and skin-laxity treatment is encouraging, but its commercial impact is not established in the snapshot.

Bottom line

Over the next one to three years, APYX has growth initiatives and supportive sector signals, but the case remains unproven because losses and weak recent results make execution central. Not investment advice.

Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	19.73M
EPS	—	-0.05
FY 2026 · Annual
OEM revenue	About $5M	—
Raised revenue	$59M–$60M	—
Reaffirmed revenue	$59M–$60M	—
Revenue	—	59.41M
Surgical Aesthetics revenue	$54M–$55M	—
EPS	—	-0.265
Operating expenses	Under $45M	—
FY 2027 · Annual
Revenue	—	65.98M
EPS	—	-0.252

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPSUnavailable

Unavailable → Unavailable · observed estimates

FY2027 revenueUnavailable

Unavailable → Unavailable · observed estimates

Exact estimates & source dates

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	3 / 3
2026-07-25	$-0.25	$66,115,400	5 / 5
2026-07-26	$-0.25	$66,115,400	5 / 5
2026-07-27	Unavailable	Unavailable	3 / 3
2026-07-28	$-0.25	$66,115,400	5 / 5
2026-07-29	$-0.25	$66,115,400	5 / 5
2026-07-30	$-0.25	$66,115,400	5 / 5
2026-07-31	$-0.25	$66,115,400	5 / 5
2026-08-01	$-0.25	$66,115,400	5 / 5
2026-08-02	$-0.25	$66,115,400	5 / 5
2026-08-03	$-0.25	$66,115,400	5 / 5
2026-08-04	$-0.25	$66,115,400	5 / 5
2026-08-05	$-0.25	$66,115,400	5 / 5
2026-08-06	$-0.25	$66,115,400	5 / 5
2026-08-07	Unavailable	Unavailable	3 / 3
2026-08-08	$-0.25	$66,115,400	5 / 5
2026-08-09	$-0.25	$66,115,400	5 / 5
2026-08-10	$-0.25	$66,115,400	5 / 5
2026-08-11	$-0.26	$66,031,800	5 / 5
2026-08-12	$-0.26	$66,031,800	5 / 5
2026-08-13	$-0.26	$66,031,800	5 / 5
2026-08-14	Unavailable	Unavailable	3 / 3
2026-08-15	Unavailable	Unavailable	3 / 3
2026-08-16	Unavailable	Unavailable	3 / 3
2026-08-17	Unavailable	Unavailable	3 / 3
2026-08-18	Unavailable	Unavailable	3 / 3
2026-08-19	Unavailable	Unavailable	3 / 3
2026-08-20	Unavailable	Unavailable	3 / 3
2026-08-21	Unavailable	Unavailable	3 / 3
2026-08-22	Unavailable	Unavailable	3 / 3
2026-08-23	Unavailable	Unavailable	3 / 3
2026-08-24	Unavailable	Unavailable	3 / 3
2026-08-25	Unavailable	Unavailable	3 / 3
2026-08-26	Unavailable	Unavailable	3 / 3
2026-08-27	Unavailable	Unavailable	3 / 3
2026-08-28	Unavailable	Unavailable	3 / 3
2026-08-29	Unavailable	Unavailable	3 / 3
2026-08-30	Unavailable	Unavailable	3 / 3
2026-08-31	Unavailable	Unavailable	3 / 3
2026-09-01	Unavailable	Unavailable	3 / 3
2026-09-02	Unavailable	Unavailable	3 / 3
2026-09-03	Unavailable	Unavailable	3 / 3
2026-09-04	Unavailable	Unavailable	3 / 3
2026-09-05	Unavailable	Unavailable	3 / 3
2026-09-06	Unavailable	Unavailable	3 / 3
2026-09-07	Unavailable	Unavailable	3 / 3
2026-09-08	Unavailable	Unavailable	3 / 3
2026-09-09	Unavailable	Unavailable	3 / 3
2026-09-10	Unavailable	Unavailable	3 / 3
2026-09-11	Unavailable	Unavailable	3 / 3
2026-09-12	Unavailable	Unavailable	3 / 3
2026-09-13	Unavailable	Unavailable	3 / 3
2026-09-14	Unavailable	Unavailable	3 / 3
2026-09-15	Unavailable	Unavailable	3 / 3
2026-09-16	Unavailable	Unavailable	3 / 3
2026-09-17	Unavailable	Unavailable	3 / 3
2026-09-18	Unavailable	Unavailable	3 / 3
2026-09-19	Unavailable	Unavailable	3 / 3
2026-09-20	Unavailable	Unavailable	3 / 3
2026-09-21	Unavailable	Unavailable	3 / 3
2026-09-22	Unavailable	Unavailable	3 / 3
2026-09-23	Unavailable	Unavailable	3 / 3
2026-09-24	Unavailable	Unavailable	3 / 3
2026-09-25	Unavailable	Unavailable	3 / 3
2026-09-26	Unavailable	Unavailable	3 / 3
2026-09-27	Unavailable	Unavailable	3 / 3
2026-09-28	Unavailable	Unavailable	3 / 3
2026-09-29	Unavailable	Unavailable	3 / 3
2026-09-30	Unavailable	Unavailable	3 / 3
2026-10-01	Unavailable	Unavailable	4 / 4
2026-10-02	Unavailable	Unavailable	4 / 4
2026-10-03	Unavailable	Unavailable	4 / 4
2026-10-04	Unavailable	Unavailable	4 / 4
2026-10-05	Unavailable	Unavailable	4 / 4
2026-10-06	Unavailable	Unavailable	4 / 4
2026-10-07	Unavailable	Unavailable	4 / 4
2026-10-08	Unavailable	Unavailable	4 / 4
2026-10-09	Unavailable	Unavailable	4 / 4
2026-10-10	Unavailable	Unavailable	4 / 4
2026-10-11	Unavailable	Unavailable	4 / 4
2026-10-12	Unavailable	Unavailable	4 / 4
2026-10-13	Unavailable	Unavailable	4 / 4
2026-10-14	Unavailable	Unavailable	4 / 4
2026-10-15	Unavailable	Unavailable	4 / 4
2026-10-16	Unavailable	Unavailable	4 / 4
2026-10-17	Unavailable	Unavailable	4 / 4
2026-10-18	Unavailable	Unavailable	4 / 4
2026-10-19	Unavailable	Unavailable	4 / 4
2026-10-20	Unavailable	Unavailable	4 / 4
2026-10-21	Unavailable	Unavailable	4 / 4
2026-10-22	Unavailable	Unavailable	4 / 4
2026-10-23	Unavailable	Unavailable	4 / 4
2026-10-24	Unavailable	Unavailable	4 / 4

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings