Apyx revenue drops in Q3 but company sees improvements ahead
November 10, 2020 - Apyx Medical, a Clearwater medical device company, reported total revenue of $7 million for the third quarter of 2020, down 8. 2 percent from Q3 2019. The company posted a net loss of $3.7 million, or 11 cents a share, for the three months ended Sept. 30, compared to a net loss of $4.4 million, or 13 cent a share, in the same period a year ago. Sales dropped due to the impact of ovid-19, Apyx (Nasdaq: APYX) said in a news release. The company makes products used in cosmetic surgery procedures. There were restrictions on elective procedures in many parts of the U.S. earlier this year, so that hospitals would have capacity for Covid patients. Those restrictions generally were lifted during the second quarter, and many of Apyx's customers, who are cosmetic surgeons, are very busy working to accommodate the backlog in cases caused by the pandemic, Charlie Goodwin, president and CEO, told analysts on a quarterly earnings call.