Covid cuts into Clearwater medical device company’s Q2 revenue
August 10, 2020 - Apyx Medical Corp. reported $4.3 million in total revenue for the second quarter of 2020, a 35 percent decrease in revenue from the same period a year ago. The net loss for the three months ended June 30 was $4.7 million, or 14 cents a share, compared to a net loss of $4.3 million, or 13 cents a share, for the second quarter of 2019. The decrease was primarily due to lower sales as a result of Covid-19, the Clearwater-based company said in a news release. Apyx (Nasdaq: APYX) makes medical devices and supplies, including for the cosmetic surgery market. Demand was down from cosmetic surgery customers worldwide as a result of preventative or protective actions taken by governments in each of the company's primary markets in response to the pandemic, said Charlie Goodwin, president and CEO. As temporary closures of non-essential businesses and restrictions on elective procedures were lifted in May, the company saw a steady increase in the number of practices reopening and a resumption of patient treatment activity, Goodwin said.