Here are 1-3 brief analogies for Apyx Medical:

• Apyx Medical is like an InMode (a company known for energy-based aesthetic devices) that also applies its unique helium plasma technology to the broader surgical market.
• Apyx Medical is like a specialized Stryker (a major medical technology company) focused on advanced energy-based devices for tissue modification in both cosmetic and surgical procedures.

• Renuvion Products: Branded medical devices designed for the cosmetic surgery market, enabling controlled heat application to tissue for desired results.
• J-Plasma Products: Branded medical devices utilized in the hospital surgical market, employing helium plasma technology to cut, coagulate, and ablate soft tissue.
• Disposable Hand Pieces: Consumable components manufactured for use with their medical energy generators.
• OEM Generators and Accessories: Medical generators and related accessories produced for other companies as an original equipment manufacturer.

• Hospitals and Surgical Centers: These institutions are customers for Apyx Medical's J-Plasma branded products and its Helium Plasma Generator, which are used in open and laparoscopic surgical procedures.
• Cosmetic Surgery Practices and Clinics: Plastic surgeons, fascial plastic surgeons, and cosmetic physicians operating in these practices and clinics are customers for Apyx Medical's Renuvion branded products, which are designed for the cosmetic surgery market.
• Other Medical Device Manufacturers (OEM Partners): Through its Original Equipment Manufacturing (OEM) segment, Apyx Medical develops, manufactures, and sells generators and accessories to other companies in the medical device industry, who then integrate these components or systems into their own product offerings.

Charles D. Goodwin, II, Chief Executive Officer, President, and Director

Appointed CEO and Director of Apyx Medical in December 2017, Charles D. Goodwin, II, has over 35 years of experience in the medical device industry. He holds a B.A. in Finance and Economics from Eastern Washington University. Prior to joining Apyx Medical, he served as CEO (U.S.) for MIS Implants Technologies, Inc., a private dental implants business, from 2014 to 2016. From approximately 2008 to 2013, Mr. Goodwin was Group Vice President, Global Surgical Energy at Olympus/Gyrus ACMI, overseeing commercial strategy, research and development, and operations. Earlier in his career, as President, Worldwide Sales for Gyrus ACMI from 2002 to 2008, he was instrumental in building global distribution and achieving significant sales growth, contributing to the company's $2.2 billion sale to Olympus in 2008.

Matthew Hill, Chief Financial Officer, Treasurer, and Secretary

Matthew Hill was appointed Chief Financial Officer of Apyx Medical, effective December 4, 2023. He brings over 30 years of financial and operational experience, including more than two decades in the healthcare industry where he has served as CFO for four publicly-traded healthcare companies. Mr. Hill earned a Bachelor and Master of Science from Fairleigh Dickinson University and an MBA from Columbia University's business school, and he is a Certified Public Accountant. Before joining Apyx Medical, he served as Chief Financial Officer of PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company. He also held the CFO position at Strata Skin Sciences (Nasdaq: SSKN), a medical technology company, from 2018 to 2021. His previous roles also include Executive Vice President and CFO for AngioDynamics, Inc., CFO at Extreme Reach, Inc., Senior Vice President Corporate Finance and Chief Accounting Officer at Cimpress N.V., and Global Controller for GE's Water and Processing Technologies division.

Todd Hornsby, Executive Vice President

Todd Hornsby serves as an Executive Vice President at Apyx Medical.

Moshe Citronowicz, Senior Vice President

Moshe Citronowicz holds the position of Senior Vice President at Apyx Medical.

Shawn D. Roman, Chief Operating Officer

Shawn D. Roman is the Chief Operating Officer of Apyx Medical.

The key risks to Apyx Medical (APYX) are:

1. Ongoing Operating Losses and Liquidity Risks: Apyx Medical has a history of incurring recurring net losses and cash outflows from operations, which raises concerns about its ability to continue as a going concern. The company has explicitly stated that it may need to secure additional capital to fund its operations, and there is no certainty that such financing will be available on acceptable terms. Any new equity offerings to raise capital would likely dilute existing shareholders and could negatively impact the stock price.

2. Regulatory and Product Approval Risks: As a medical technology company, Apyx Medical faces continuous regulatory hurdles, especially with the FDA in the U.S. and other global health authorities. The company's ability to develop, obtain necessary approvals for, and commercialize its products, such as Renuvion and the new AYON Body Contouring System, is critical to its business. Delays or failures in securing these regulatory clearances, or adverse regulatory actions (like past FDA safety communications), can materially impede product adoption and market access.

3. Macroeconomic Environment and Market/Competitive Risks: Apyx Medical's business is susceptible to the broader macroeconomic environment, which has contributed to ongoing uncertainty in the cosmetic surgery market. This uncertainty has led customers to delay decisions on purchasing capital equipment, impacting generator sales. The company also faces competitive pressures and is actively monitoring evolving demand trends, including the potential impact of GLP-1 drugs on the aesthetics market, which could shift consumer preferences and affect demand for its products.

• Continued Adoption and Expansion of the AYON Body Contouring System: The successful commercial launch of the AYON body contouring system in September 2025 has significantly contributed to Apyx Medical's revenue, particularly in the surgical aesthetics segment, with demand exceeding initial expectations. The company also anticipates further growth from the expected mid-2026 market clearance of a 510(k) application for AYON label expansion to include power-assisted liposuction, which could enable activation on existing systems and introduce new revenue streams from power-assisted handpieces.
• Strategic Focus on the Surgical Aesthetics Segment: Apyx Medical is strategically shifting its resources and focus towards the higher-growth Surgical Aesthetics segment, reducing its emphasis on the Original Equipment Manufacturing (OEM) segment. This strategic pivot is expected to result in a projected 17% to 19% increase in surgical aesthetics revenue for 2026, indicating a concentrated effort to capitalize on the opportunities within this market.
• Increased Demand Driven by GLP-1 Drug Usage: The growing number of patients utilizing GLP-1 drugs for rapid weight loss is creating a new and expanding market for treatments addressing loose and lax skin. Apyx Medical's Renuvion (also known as J-Plasma) technology is well-positioned as an FDA-cleared solution for skin tightening, and this demographic is expected to fuel higher procedure volumes and recurring consumable revenue for the company.
• Expansion and Strengthening of the Commercial Sales Organization: To further accelerate market share growth and product adoption, Apyx Medical is actively investing in and strengthening its commercial organization. This includes acquiring high-caliber sales talent to enhance its ability to build market share, provide comprehensive surgeon support, and facilitate training and practice development, all of which are critical for the next phase of growth.

Share Issuance

• Apyx Medical completed a $7.0 million registered direct offering in November 2024, issuing 3 million shares and over 2.9 million pre-funded warrants.
• In November 2025, the company completed an underwritten public offering, raising approximately $9.1 million in net proceeds by selling over 2.7 million shares at $3.62 each.
• A new shelf registration statement for up to $100 million in securities was filed in December 2025, replacing a prior expired shelf to provide flexibility for future capital raises.

Inbound Investments

• In February 2023, Apyx Medical entered into a new five-year secured credit facility with MidCap Financial for up to $35 million, including term loans and a revolving facility, with approximately $8.0 million in net proceeds at closing.
• The company secured a new five-year credit agreement in November 2023 for up to $45 million, comprising an initial loan of $37.5 million and a delayed draw loan of $7.5 million.
• Apyx Medical closed on a Purchase Agreement in May 2023 and executed a 10-year leaseback agreement for its Clearwater, FL facility, generating net cash proceeds of approximately $6.6 million.

Capital Expenditures

• Apyx Medical is investing in the launch and commercialization of its AYON Body Contouring System, which received FDA 510(k) clearance in May 2025 and commercially launched in September 2025.
• Operating expenses were reduced to below $40 million in 2025, down from $48.2 million in 2024 and $53.7 million in 2023, due to cost-cutting measures.
• For the year ended December 31, 2025, the company reported using $8.0 million of cash in operations.