Apyx Medical Corporation · NASDAQ:APYX
Apyx Medical — Investor Presentation (June 2024)
25 slides from Apyx Medical's investor presentation, June 2024
Slide 1: Investor Presentation June 2024
Investor Presentation June 2024 1
Slide 2: Cautionary Statements
Cautionary Statements disruptions; changes in general economic, business or demographic conditions or trends; changes in and Forward-Looking Statements effects of the geopolitical environment; liabilities and costs which the Company may incur from pending or Certain matters discussed in this present
Slide 3: Apyx Medical at a Glance
Apyx® Medical at a Glance An advanced energy technology company, Ticker (Nasdaq) : APYX known for our Renuvion® helium plasma technology, with a passion for elevating Market Cap : ~$57.5M(1) people’s lives through innovative products in the cosmetic surgery market. Avg. Daily Vol (LTM) : ~179,000(2)
Slide 4: Value Proposition
Value Proposition With game-changing results in hundreds of thousands of cosmetic surgery procedures, supported by evidence-based outcomes, Renuvion has gained strong commercial traction and support from the surgeon community. Apyx Medical Corporation has embarked on a growth strategy to drive adopt
Slide 5: Investment Highlights
Investment Highlights • ~$3 billion addressable market opportunity in • Sales growth in the global cosmetic surgery the U.S. alone, including an annual opportunity market fueled by strong adoption and utilization in excess of $700 million based on the number trends of procedures performed each year;
Slide 6: U.S. Market Opportunity
U.S. Market Opportunity GENERATORS HANDPIECES ~$2.3B ~$750M Potential market Potential opportunity annual market opportunity ~$550M 2 ~$200M 3 ~15,0001 > 1 million annual surgical > 400K annual non- plastic surgeons, procedures surgical procedures cosmetic surgeons, • ~384K annual liposuction & derm
Slide 7: Experienced Leadership Team
Experienced Leadership Team Charlie Goodwin Joined Apyx: Matt Hill Joined Apyx: Todd Hornsby Joined Apyx: Moshe Citronowicz Joined Apyx: Chief Executive Officer Dec. 2017 Chief Financial Officer, Dec. 2023 Executive Vice President Global Aug. 2014 Senior Vice President Oct. 1993 25+ Years Experience
Slide 8: What is Renuvion?
What is Renuvion? Renuvion Apyx One Generator and Handpieces How The Device Works Handpiece inserted sub-dermally Contract skin via direct heating Longer-term skin contraction through neocollagenesis 8
Slide 9: The Dilemma
The Dilemma The optimal temperature for subdermal tissue contraction is 85°C. Most standard monopolar and bipolar radiofrequency devices can’t reach this temperature quickly enough without causing a concerning rise in skin temperature.1-5 1. Feldman LS, et al. (eds). The SAGES Manual on the Fundamen
Slide 10: Compelling Clinical and Real-World Evidence
Compelling Clinical and Real-World Evidence The safety and efficacy of Renuvion is supported by more than 90 published clinical papers, abstracts and posters, as well as 2 multi-site IDE clinical studies. Clinical Publications at: https://physicians.renuvion.com/library/ 10
Slide 11: Real Results
Real Results Skin Laxity Facial Renewal Before After Before After Patient: 65-year-old-female Patient: 55-year-old-female Results from IDE Clinical Study* where Results from IDE Clinical Study*, Renuvion was the only technology used. using a single-pass technique. *NCT04146467 on clinicaltrials.gov
Slide 12: 4 New FDA Clinical Indications and 4 FDA Product Clearances in 12 Months
4 New Specific FDA Clinical Indications and 4 FDA Product Clearances in 12 Months Jan 2019 May 2022 Oct 2022 Apr 2023 Changed Company 510(k) Clearance 510(k) 510(k) Clearance name to APYX® for Facial Clearance for for Specific Use Medical Renewal and the the Apyx One after Liposuction Dermal Console
Slide 13: Global Presence
Global Presence • U.S. direct sales model1 of: • 31 field-based selling professionals • 4 sales managers • 3 independent sales agencies • Driving growth by expanding customer base and increasing Contract utilization from existing accounts Manufacturing Partner We are also registered to sell our prod
Slide 14: Strong Track Record of Advanced Energy Sales Growth
Strong Track Record of Advanced Energy Sales Growth Fueled by Adoption and Utilization of Renuvion in the Global Cosmetic Surgery Market Advanced Energy Revenue 2018 – 2024 ($M) $50.0 $40.0 $30.0 $43.0 $43.4 $43.1 $20.0 $36.8 $22.7 $22.2 $10.0 $13.1 $0.0 2018 2019 2020 2021 2022 2023 2024E Represent
Slide 15: 2024 Strategic Initiatives
2024 Strategic Initiatives • Continue to raise awareness of Renuvion® • Facilitate new customer adoption and develop network OUS • Continue to expand library of clinical evidence supporting the use of our Advanced Energy products • Manage expenses while driving progress towards profitability 15
Slide 16: First global direct to consumer brand campaign
In January 2023, we launched our first global direct to consumer brand campaign 16
Slide 17: Financial Summary
pyx MEDICAL Financial Summary
Slide 18: Financial Highlights – Income Statement
Financial Highlights – Income ($ in 000's) Q1 2024 Q1 2023 Statement Advanced Energy Revenue OEM Revenue $7,453 2,791 $9,690 2,452 Total Revenue $10,244 $12,142 Total Revenue Growth (Y/Y) -15.6% Cost of Goods Sold 4,295 4,569 Gross Profit $5,949 $7,573 Gross Margin 58.1% 62.4% Total Other Costs and
Slide 19: FY'24 Financial Outlook
FY’24 Financial FY’24 Financial Outlook (reaffirmed May 9, 2024): Outlook Total revenue of $49.7 to $52.9 million, ~(-5%) to +1% year-over-year Total revenue guidance assumes: • Advanced Energy revenue of $41.6 to $44.6 million, (-4% )to +3% year-over-year • OEM revenue of $8.1 to $8.3 million, (-10
Slide 20: Appendix
\pyx MEDICAL Appendix
Slide 21: Regulatory Clearances for Target Indications
Regulatory Clearances for Target Indications • 510(k) Received April 28, 2023: Renuvion is the only device FDA cleared for coagulation of subcutaneous soft tissues following liposuction for aesthetic body contouring. • 510(k) Received February 23. 2023: Renuvion is the only device FDA cleared for th
Slide 22: Renuvion in the Media
Renuvion in the Media Renuvion mentioned by Dr. Paul Nassif in People Renuvion featured in Haute Beauty 22
Slide 23: Q1 2024 Financials – Balance Sheet
Q1 2024 Financials – Balance Sheet 23
Slide 24: Q1 2024 Financials – Statement of Operations
Three Months Ended March 31, Q1 2024 (unaudited) 2024 2023 Financials – Sales Cost of sales 10,244 4,295 12,142 4,569 Statement of Gross profit Gross Profit Margin % 5,949 58.1% 7,573 62.4% Operations Other costs and expenses: Research and development 1,397 1,271 Professional services 1,574 1,740 Sa
Slide 25: Q1 2024 Financials – EBITDA
The Company has presented the following non-GAAP financial measure in Q1 2024 this presentation: adjusted EBITDA. The Company defines adjusted EBITDA Financials – as its reported net income (loss) attributable to stockholders (GAAP) plus income tax expense (benefit), interest, depreciation and amort