Apyx Medical Corporation (NASDAQ:APYX) Q3 2019 Earnings Conference Call - Final Transcript

Nov 11, 2019 • 04:30 pm ET


Apyx Medical Corporation (NASDAQ:APYX) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon, ladies and gentlemen, and welcome to the third quarter of fiscal-year 2019 earnings conference call for Apyx Medical Corporation. At this time, all participants are in placed in a listen-only mode. At the end of the company's prepared remarks, we will conduct a question-and-answer session. Please note that this conference call is being recorded and that the recording will be available on the company's website for replay shortly.

Before we begin, I would like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements that are based on the current expectations of management, and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated, including those identified in the Risk Factors section of our most recent annual report on Form 10-K filed with the Securities and Exchange Commission, as well as our most recent 10-Q filing. Such factors may be updated from time-to-time in our filings with the SEC, which are available on our website. We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise. This call will also include references to certain financial measures that are not calculated in accordance with Generally Accepted Accounting Principles or GAAP. We generally refer to these as non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most comparable measures calculated and presented in accordance with GAAP are available in the earnings press release on the Investor Relations portion of our website.

I would now like to turn the call over to Mr. Charlie Goodwin, Apyx Medical's President and Chief Executive Officer. Please go ahead sir.

Charles D. Goodwin

Thanks operator. Welcome everyone to our third quarter of fiscal-year 2019 earnings call. I am joined on this afternoon's call by our Chief Financial Officer, Tara Semb.

Let me provide you with a quick agenda for today's call. I'll begin my prepared remarks with an overview of our third-quarter revenue performance and the primary drivers of our revenue growth during the period. Then I'll discuss our recent operational progress with updates on the four strategic initiatives that we are pursuing, as part of our longer-term growth strategy, as well as the enhancements we have made to our product portfolio. Tara will then provide you with a detailed revenue of our financial results for the third quarter, as well as our fiscal year guidance for 2018, which we updated in our earnings press release this afternoon. I'll then share some additional closing remarks before we open the call for questions.

During the third quarter of 2019, we generated impressive revenue growth, continuing the strong financial performance that we saw during the first half of 2019. We reported total revenue in the third quarter of $7.6 million, which represented growth of $3.9 million or 106% growth year-over-year. Our total revenue growth continued to be driven by strong global demand for our Advanced Energy products. We achieved impressive sales performance in our Advanced Energy