Benzinga | Aug 12, 2021 07:27AM EDT

Apyx Medical Sees FY21 Sales $40.6M-$42.6M vs $38.65M Est.

Full Year 2021 Financial Outlook:

The Company is updating financial guidance for the year ending December 31, 2021 to:

* Total revenue in the range of $40.6 million to $42.6 million, representing growth of 46% to 54% year-over-year, compared to total revenue of $27.7 million for the year ended December 31, 2020. The Company's prior guidance range for total revenue was $37.6 million to $39.7 million, representing growth of 36% to 43% year-over-year. Total revenue guidance assumes: Advanced Energy revenue in the range of approximately $36.0 million to $38.0 million, representing growth of 62% to 71% year-over-year, compared to Advanced Energy revenue of $22.2 million for the year ended December 31, 2020. The Company's prior guidance range for Advanced Energy revenue was $33.1 million to $35.2 million, representing growth of 49% to 59% year-over-year. The Advanced Energy revenue range assumes that U.S. growth is only driven by contributions from Renuvion sales related to its use as a sub-dermal coagulator following liposuction procedures and that international growth is driven primarily by demand in existing international markets. OEM revenue of approximately $4.6 million, representing a decline of 16% year-over-year, compared to $5.5 million for the year ended December 31, 2020. The Company's prior guidance for OEM revenue was approximately $4.4 million, representing a decline of 20% year-over-year.

* Net loss attributable to stockholders in the range of $19.3 million to $18.0 million, compared to net loss attributable to stockholders of $11.9 million for the year ended December 31, 2020. Net loss attributable to stockholders for the year ended December 31, 2020 included an income tax benefit of $7.7 million. The Company's prior guidance range for net loss attributable to stockholders was $20.3 million to $18.0 million.

* Adjusted EBITDA loss in the range of $13.1 million to $11.5 million, compared to adjusted EBITDA loss of $14.5 million for the year ended December 31, 2020. The Company's prior guidance range for Adjusted EBITDA loss was $14.1 million to $11.5 million.