Apyx Medical Corp 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-31885 APYX MEDICAL CORPORATION (Exact name of registrant as specified in its charter) 11-2644611(I.R.S. EmployerIdentification No.) Delaware(State or other jurisdiction ofincorporation or organization) 5115 Ulmerton Road, Clearwater, FL 33760 (Address of principal executive offices, zip code) (727) 384-2323 (Registrant’s telephone number)Securities Registered Pursuant to Section 12 (b) of the Act: Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports) and (2) has been subject to such filing requirements for the past 90 days. Yes:☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). Yes:☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐ Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes:☐No☒ As of May 6, 2026, 41,873,951shares of the registrant’s $0.001 par value common stock were outstanding. APYX MEDICAL CORPORATIONINDEX TO QUARTERLY REPORT ON FORM 10-QFor the quarterly period ended March 31, 2026 PagePart I.Financial Information2Item 1.Condensed Consolidated Financial Statements (Unaudited)2Condensed Consolidated Balance Sheets at March 31, 2026and December31, 20252Condensed Consolidated Statements of Operations for the threemonths ended March 31, 2026 and 20253Condensed Consolidated Statements of Changes in Equity for the three months ended March 31, 2026 and20254Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 20255Notes to Condensed Consolidated Financial Statements6Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations14Item 3.Quantitative and Qualitative Disclosures about Market Risk22Item 4.Controls and Procedures22Part II.Other Information23Item 1.Legal Proceedings23Item 1A.Risk Factors23Item 2.Unregistered Sales of Equity Securities and Use of Proceeds23Item 3.Defaults Upon Senior Securities23Item 4.Mine Safety Disclosures23Item 5.Other Information23Item 6.Exhibits24Signatures251 Table of Contents ITEM 1. Condensed Consolidated Financial Statements APYX MEDICAL CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except share and per share data) APYX MEDICAL CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)(In thousands, except per share data) Three Months EndedMarch 31,20262025Sales, net$12,490$9,430Cost of sales4,5653,765Gross profit7,9255,665Other costs and expenses:Research and development765804Professional services1,2421,365Salaries and related costs3,2533,081Selling, general and administrative3,5763,466Total other costs and expenses8,8368,716Loss from operations(911)(3,051)Interest income244304Interest expense(1,369)(1,376)Other income, net36—Total other expense, net(1,089)(1,072)Loss before income taxes(2,000)(4,123)Income tax expense14349Net loss(2,143)(4,172)Net loss attributable to non-controlling interest(35)(22)Net loss attributable to stockholders$(2,108)$(4,150)Loss per share:Basic and diluted$(0.05)$(0.10)The accompanying notes are an integral part of the condensed consolidated financial statements.3 APYX MEDICAL CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY(Unaudited)(In thousands) APYX MEDICAL CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands) APYX MEDICAL CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE 1.BASIS OF PRESENTATION Apyx Medical Corporation (“Company”, “Apyx”, “it” and similar terms) was incorporated in 1982, under the laws of the State ofDelaware and has its principal executive office at 5115 Ulmerton Road, Clearwater, FL 33760.