2024 Q2 Form 10-Q Financial Statement

#000071913524000026 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $12.15M $10.24M
YoY Change -10.47% -15.63%
Cost Of Revenue $4.656M $4.295M
YoY Change 8.53% -6.0%
Gross Profit $7.493M $5.949M
YoY Change -19.25% -21.44%
Gross Profit Margin 61.68% 58.07%
Selling, General & Admin $4.838M $4.897M
YoY Change -10.04% -6.81%
% of Gross Profit 64.57% 82.32%
Research & Development $1.424M $1.397M
YoY Change 18.77% 24.62%
% of Gross Profit 19.0% 23.48%
Depreciation & Amortization $156.0K $157.0K
YoY Change 3.31% -22.66%
% of Gross Profit 2.08% 2.64%
Operating Expenses $13.04M $12.56M
YoY Change -1.26% -4.7%
Operating Profit -$5.547M -$6.615M
YoY Change 349.15% 17.89%
Interest Expense $1.427M $1.396M
YoY Change 162.8% 496.58%
% of Operating Profit
Other Income/Expense, Net -$989.0K -$922.0K
YoY Change -450.71% 390.43%
Pretax Income -$6.536M -$7.537M
YoY Change 585.83% 29.97%
Income Tax $50.00K $53.00K
% Of Pretax Income
Net Earnings -$6.556M -$7.576M
YoY Change 559.56% 117.51%
Net Earnings / Revenue -53.96% -73.96%
Basic Earnings Per Share -$0.19 -$0.22
Diluted Earnings Per Share -$0.19 -$0.22
COMMON SHARES
Basic Shares Outstanding 34.64M shares 34.64M shares
Diluted Shares Outstanding 34.64M shares 34.64M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.68M $37.28M
YoY Change 76.84% 129.36%
Cash & Equivalents $32.68M $37.28M
Short-Term Investments
Other Short-Term Assets $1.960M $2.362M
YoY Change -36.77% -67.86%
Inventory $9.324M $9.795M
Prepaid Expenses
Receivables $12.71M $12.49M
Other Receivables $0.00 $0.00
Total Short-Term Assets $56.67M $61.93M
YoY Change 7.16% 17.54%
LONG-TERM ASSETS
Property, Plant & Equipment $1.918M $1.779M
YoY Change -9.44% -15.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.811M $1.893M
YoY Change -5.08% 52.78%
Total Long-Term Assets $8.723M $8.785M
YoY Change -8.6% 114.27%
TOTAL ASSETS
Total Short-Term Assets $56.67M $61.93M
Total Long-Term Assets $8.723M $8.785M
Total Assets $65.39M $70.71M
YoY Change 4.75% 24.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.348M $2.103M
YoY Change -11.66% 10.39%
Accrued Expenses $7.493M $7.918M
YoY Change 6.91% 17.18%
Deferred Revenue $515.0K
YoY Change -51.09%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00K $20.00K
YoY Change -99.78% -99.77%
Total Short-Term Liabilities $10.64M $10.56M
YoY Change -44.09% -43.02%
LONG-TERM LIABILITIES
Long-Term Debt $33.63M $33.41M
YoY Change 53277.78% 49026.47%
Other Long-Term Liabilities $192.0K $194.0K
YoY Change 3.78% 4.86%
Total Long-Term Liabilities $33.82M $33.60M
YoY Change 18181.08% 18062.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.64M $10.56M
Total Long-Term Liabilities $33.82M $33.60M
Total Liabilities $50.47M $50.25M
YoY Change 96.41% 144.29%
SHAREHOLDERS EQUITY
Retained Earnings -$68.58M -$62.02M
YoY Change 70.55% 58.15%
Common Stock $35.00K $35.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.75M $20.25M
YoY Change
Total Liabilities & Shareholders Equity $65.39M $70.71M
YoY Change 4.75% 24.53%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$6.556M -$7.576M
YoY Change 559.56% 117.51%
Depreciation, Depletion And Amortization $156.0K $157.0K
YoY Change 3.31% -22.66%
Cash From Operating Activities -$4.329M -$6.341M
YoY Change -10.78% 233.74%
INVESTING ACTIVITIES
Capital Expenditures $289.0K $35.00K
YoY Change 85.26% -68.18%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$289.0K -$35.00K
YoY Change -104.06% -68.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.000K -$5.000K
YoY Change -110.87% -100.06%
NET CHANGE
Cash From Operating Activities -4.329M -$6.341M
Cash From Investing Activities -289.0K -$35.00K
Cash From Financing Activities -5.000K -$5.000K
Net Change In Cash -4.623M -$6.370M
YoY Change -300.56% -205.06%
FREE CASH FLOW
Cash From Operating Activities -$4.329M -$6.341M
Capital Expenditures $289.0K $35.00K
Free Cash Flow -$4.618M -$6.376M
YoY Change -7.79% 217.21%

Facts In Submission

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CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has reclassified certain amounts presented in the prior period to conform to the current period presentation. These amounts primarily relate to management salaries that were previously included within salaries and related costs and are now included within research and development. These reclassifications had no impact on previously reported net loss, accumulated deficit or cash flows for the periods presented.</span></div>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1468929 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.36
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
569 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.50
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
298079 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.63
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8513164 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.58
CY2024Q1 apyx Stock Issued During Period Shares Stock Swaps Equity Instruments Received
StockIssuedDuringPeriodSharesStockSwapsEquityInstrumentsReceived
531 shares
CY2024Q1 apyx Stock Issued During Period Shares Stock Swaps
StockIssuedDuringPeriodSharesStockSwaps
38 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.040
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.042
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.921
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.943
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
53000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2267000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.007
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.391
CY2023Q1 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-2100000 usd
CY2024Q1 us-gaap Purchase Obligation
PurchaseObligation
2700000 usd
CY2024Q1 apyx Purchase Obligation Expected Purchase Period
PurchaseObligationExpectedPurchasePeriod
P12M
CY2024Q1 apyx Related Party Transaction Number Of Related Parties
RelatedPartyTransactionNumberOfRelatedParties
2 related_party
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10244000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6615000 usd
CY2024Q1 us-gaap Interest Income Operating
InterestIncomeOperating
495000 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
1396000 usd
CY2024Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-21000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
53000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12142000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5611000 usd
CY2023Q1 us-gaap Interest Income Operating
InterestIncomeOperating
51000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
234000 usd
CY2023Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-5000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2267000 usd
CY2024Q1 apyx Total Revenue Percent
TotalRevenuePercent
0.319
CY2023Q1 apyx Total Revenue Percent
TotalRevenuePercent
0.269
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10244000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12142000 usd

Files In Submission

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0000719135-24-000026-index-headers.html Edgar Link pending
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0000719135-24-000026.txt Edgar Link pending
0000719135-24-000026-xbrl.zip Edgar Link pending
a2024q110-kexhibit311.htm Edgar Link pending
a2024q110-kexhibit312.htm Edgar Link pending
a2024q110-kexhibit321.htm Edgar Link pending
a2024q110-kexhibit322.htm Edgar Link pending
apyx-20240331.htm Edgar Link pending
apyx-20240331.xsd Edgar Link pending
apyx-20240331_g1.jpg Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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apyx-20240331_def.xml Edgar Link unprocessable
apyx-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
apyx-20240331_htm.xml Edgar Link completed
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apyx-20240331_lab.xml Edgar Link unprocessable
apyx-20240331_cal.xml Edgar Link unprocessable