Apyx Medical Reports Preliminary FY23 Revenues Of ~$51.9M-$52.3M, Up 17%-18% Y/Y Versus Consensus Of $53.25M
Portfolio Pulse from Benzinga Newsdesk
Apyx Medical announced preliminary FY23 revenues of approximately $51.9M-$52.3M, reflecting a 17%-18% increase year-over-year, but slightly below the consensus estimate of $53.25M. The Advanced Energy segment is expected to generate $43.1M-$43.5M, up 17%-18% Y/Y, while OEM revenue is projected at $8.8M, up 14% Y/Y.
January 08, 2024 | 12:54 pm
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NEGATIVE IMPACT
Apyx Medical's preliminary FY23 revenue growth is positive, but the slight miss against consensus estimates may concern investors. The Advanced Energy and OEM segments show solid growth.
While Apyx Medical's revenue growth is a positive sign, the fact that it missed the consensus estimates, even by a small margin, could lead to a negative short-term impact on the stock price as investors adjust their expectations.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100