Apyx Medical Corporation (APYX) stock soared 17.84% in the after-market trading session at the price of $19.55 despite no fundamental reason. The last published news was its financial results for the three months ended on 30th September 2021.
APYX is an advanced energy technology corporation that designs innovative cosmetic and surgical products to raise life standards. The company aims to bring transformative solutions for both patients and physicians using its Helium Plasma Technology.
APYX Third Quarter 2021 Financial Results
On 11th November 2021, APYX announced its earnings report for the third quarter ended on 30th September 2021 and presented corporate updates. The company has also renewed its financial outlook for the year ending 31st December 2021.
Financial Summary
For the three months ended 30th September 2021, APYX reported total revenue of $11.8 million. It represents a gain of 70%, or $4.9 million, from $7.0 million in the third quarter of 2020. For the third quarter of 2021, Advanced Energy revenue was $10.3 million, 88% year-over-year growth. Gross profit totaled $8.1 million for the three months ended on 30th September 2021. It indicates a surge of 70%, or $3.3 million, from $4.7 million in the third quarter of 2020.
APYX reported a gross margin of 68.1% for the third quarter of 2021. The gross margin was 67.9% for the three months ended on 30th September 2020. For the third quarter of 2021, operating expenses were $12.0 million. It represents a gain of $2.9 million, or 32%, from $9.1 million in the same quarter of last year. Net loss attributable to stockholders totaled $4.2 million for the third quarter of 2021. For the third quarter of 2020, net loss attributable to stockholders was $3.7 million.
The company reported an adjusted EBITDA (loss) of $2.7 million for the third quarter of 2021. For the third quarter of 2020, adjusted EBITDA (loss) totaled $3.1 million. On 30th September 2021, APYX had cash and cash equivalents of $30.9 million. Cash and cash equivalents were $41.9 million as of 31st December 2020. On 30th September 2021, the company reported a working capital of $48.2 million.
