APYX - Earnings call transcript Q3 2020 | Apyx Medical Corporation

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Operator

Good morning, ladies and gentlemen and welcome to the Third Quarter of Fiscal Year 2020 Earnings Conference Call for Apyx Medical Corporation. At this time, all participants have been 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 Securities and Exchange Commission, as well as our most recent 10-Q filing. from available our on updated SEC, with maybe are which our factors time-to-time filings in the Such website. future result We update undertake new a or publicly otherwise. information, of revise our no forward-looking statements obligation events or to as certain This are measures generally accounting not call GAAP. with that principles, accordance financial or references in will include accepted also to calculated generally refer to We these measures. as non-GAAP financial press presented to release in portion website. non-GAAP these comparable most of in Relations the the the financial available in measures earnings with Investor of accordance calculated Reconciliations GAAP are and measures our to like I turn would now to the conference over Mr. Apyx and Goodwin, Executive Officer. Charlie Medical’s President Chief sir. Please ahead, go

Charlie Goodwin

Chief Thanks, operator. Officer. quarter on third am Welcome the joined to our everyone the call call by Financial for XXXX. morning I earnings of this our Semb, Tara

quick the provide third for COVID-XX of begin revenue you I will of a of a the pandemic results our for results. me summary call. impact with with a today’s review our quarterly the on including agenda quarter, Let

strategy. provide Tara initiatives review our Following some four recent we our this on discussion, I of as have made our the you with highlights part and provide operational results, you update are progress will pursuing with our we of on financial as for a an assumptions the as detailed well modeling considerations quarter. fourth then financial and our growth in long-term performance will

sales decreased while decreased year-over-year total geographic From of decrease quarter to $X.X to of some a thoughts review the $X our sales standpoint, results. on with for additional XXXX with representing year-over-year. reported revenue near-term X% XXXX, of outlook conclude third get quarter will our international questions. for year-over-year million. revenue call U.S. open total the We third I $X.X With before a for our of long-term XX% remarks, we the million, Tara’s that, million Following of total started the and let’s X%

million. $X.X by business, year-over-year were In terms segments, essentially in total in in offset year-over-year driven OEM business at our year-over-year. of year-over-year, impact COVID-XX business partially each was a utilization decreased strong million sales in Energy the our on in based XX% revenue XX% global sales business, demand XX% Advanced Despite handpiece were from Energy in handpiece recovery trends by cosmetic Most of generator decline which Advanced our Energy and revenue we increase to our our growth decline sales surgery sales capital performance The global $X.X revenue XX% was Advanced saw U.S. by we QX an sales, of continued in by flat the of that in progress. the of continued the XX% our our driven pleased notably, to in improving was as year-over-year customers.

Specifically, we saw growth U.S. handpiece year-over-year. XX% sales in

a consultations, period. cases backlog Many virtual were the entered spring. all as more very working reported at pandemic past this we trends U.S. detail, of of building Looking during reported in by handpiece to employing over closed offices strong in existing as third our pipelines why COVID caused the nearly result U.S. also our this practices, customers busy accommodate were have quarter, the their

As a was for result the in an of U.S. these our clinician exceptionally strong customers dynamics, month July

these of mid-August, both benefited we July dynamics growth we as from cases. accounts By backlog, that office reporting accounts their conference were able to softer to accommodate of in their prior to extending QX additional comparison for adding a call. that work with through also schedule our believe in order many they performance were their year discussed on majority Our these hours days the

of from which feedback weeks underlying we our our are trends. reporting Outside handpieces characterize of a of geographic through many remains difficult Renuvion This recent business U.S., in customers, backlog different world, have of their to consistent each of quarter, around to based continued it utilization we throughout after increased rates primary improving who is the given trends. received recovery working positive see the with cases. strong remaining Importantly, patient as for the our view demand volumes of the regions that U.S. sign we the

encouraging experienced the our handpiece improved demand during markets On in side, the primary third quarter. we OUS

have However, to of third the the recovery seen saw market, still lag U.S. improving that in the sales behind the were year-over-year while we the handpiece and continues in international trends demand quarter trends handpieces down we in

internationally. capital the early in equipment remains the stages U.S. front, the recoveries, purchasing overall On the environment and of in both

technology are the surgeon pandemic. reluctant We customers new see practices business uncertainty COVID-related potential disruption to and given overhang of future by in to their the invest that for created continue new the continued the

importantly, adoption. the continue access clinician impact in-person like rep the selling and of restrictions clinician to and lack tradeshows to ability More on opportunities, COVID drive our events new

decline that our year-over-year in from registrations OUS securing new product had experienced generator in third recent sale our global the success of we authorizing has team Helium While the Technology performance benefited the quarter, countries. sales Plasma in during our

with XX% that Advanced orders by and in orders business. saw Taiwan to the with the we the QX. Brazil the international Advanced global decrease we sequential during improvements sales quarter summary, initial and in trends Energy to registrations Energy are new report to increase our have of these continued helped year-over-year These Thailand. Australia. pleased in our X and in in very countries overall In COVID-XX, quarter to of shipped orders that impact and the product of despite third offset business handpiece encouraged this we receipt the In the year, orders shipped X are of initial Australia, announced During QX, pleased that we second am Brazil along recall I additional and new countries

through and adept supporting their working their after the that Our open, team becoming managing excellent The in is sustained we doing see continue distributors. to remain patients. while global their serve this our prioritizing our lastly, we new added to the majority international of of And and benefit practices while evidence Advanced the pleased U.S. the are backlog of and we capital safety more in patient OUS accounts sales surgeon sales existing of job from an stages year. we both in Energy performance U.S. are seeing our early efficiently, improvement that equipment in countries customers of volumes in recovery health at purchasing,

surgery of Medical on of procedures sell during us After restrictions indications market the Turning the made clinical in quarter, quarter, progress very pleased of starting continue for studies, progress the operational achievement to to key second which use lifted the to of discussion Renuvion to U.S. and both long-term in milestones our initiatives to skin considerable with our our procedures. targeted to new to clinical two specific respect four the progress first resurfacing elective during to IDE on growth position for were of will support intended our initiative these new we make we cosmetic strategic with on pursuit enable dermal the team and laxity pursue market, our that announce indications our procedures. are are Apyx Today, for studies.

completed announce study Renuvion First in for and resurfacing of that excited procedures. the our evaluating enrollment we week last technology I use foremost, clinical dermal have am to

in study Renuvion use progress in and make evaluating the neck laxity procedures of skin our in first the to submental the continue also phase We of IDE region.

to the focused the I reminder, safety that pleased collecting FDA data our the completing the for completed X-month X-month and working safety look to on be to As begin X-month FDA submitted safety with Phase requirements review. concluded that we week, X a FDA data Phase data am is to Phase in we to review FDA completed met review. announce our X. and of X Phase We to their for submitted Last safety study. enrollment of our X forward

U.S. on commercial expanding regulatory obtaining by clearance in focused are strategy, new our Technology we our our footprint for countries. to addition internationally Helium Plasma regulatory In

of pleased quarter, to our during and Brazil, earlier, to new regulatory with and registrations Israel, we Thailand in mentioned the and expanded receive profile. these market Latvia second new and in to products benefit In addition I international X of sell expect product the growth Australia, of long-term countries approval As Lithuania. countries, each footprint were both X Taiwan the our QX, further our we addition

the the peer-reviewed strategic our continued Renuvion clinical regulatory our to portfolio second XXXX, to new we Dermatological of not despite technology. ability our This team the were the materially the do respect two the were to we journal, these Reviews. of featured which pleased in countries to initiative, global efforts both we articles, use While our the progress the reflects expand country continued to of With expect contribute evidence drive either of publication addition of month, to announce COVID. in disruption past supporting performance to due

for when technology used The in first publication evaluated the independently submental liposuction coagulation our neck. of Renuvion

studies, body. when multiple in combination Renuvion treatment sub-dermal we various data publication Each evaluated strengthen for to risk benefit featured used of areas publication The second serves chart profile Renuvion. for believe which liposuction the of with review the coagulation in further retrospective

continue broad-based we its to adoption. and this Renuvion ability progress to on While demonstrate the technology facilitate further recent build of our clinical

for our strategic physician cosmetic to third and Moving surgery initiative, enhancing our support practice customers.

educational the events virtually. impacted Given pandemic ability has COVID continues in-person to team that programming our conduct our host to

by marketing approximately similar sales, the quarter, virtual of our some conducted mentoring events, and During events, were top or physicians. customers. were by which were field physician we traditionally PMP organized These education to third and the led events teams clinical in-person physician our program, X XXX physician that have attended

also further and organized our about were team our on training international technology. the for distributors, three educating benefits Our of which them focused virtual features sessions

also our videos include to In customers procedural available for programming, demand. addition expanded user online existing on to and of are we live pre-recorded that have our our resources webinars, platform experience videos

earlier discussed initiatives, focus one as to in quarters, respect been under our cost important implement strategic this areas I initiative our order with are in Energy have capabilities four most and These handpiece, has manufacturing which launched our manufacturing Advanced new efficiencies, improved prior of of improving to margins our of Lastly, efforts the per-unit reflected process our to this improvements APR year. we in products. reduce

of the the sales. Our larger already margin gross benefiting handpiece financial total improvement as handpiece are APR a becomes results from portion our

long-term the challenges strategy. the respect also me strategic quarter our QX, that, of expect drive ability benefits to continue this our customers, financial over to With third remaining the let progress organization in months demonstrate to discuss to pandemic turn our to effectively with XXXX ongoing We to our beyond. initiative results. continued over COVID call support of fourth their Tara profitability while to our the contributions back, Stepping long-term despite and Tara? driving of

Tara Semb

Charlie. Thanks,

Operating Charlie our The begin decrease $XX.X The our or mix initiatives year-over-year efficiency compared million $X.X between Gross our expense related selling, XXXX $X.X year-over-year to a or of a I our by a decreased the improved by in to in decrease is gross the was for $X.X million XX.X% results quarter and million operations professional the our million increase was review our the of from decrease detail, It quarter Advanced third by in general QX of XXXX and condition. of expenses third second compared spending to will quarter segment. costs our for tax a profit X.X% third within improved OEM million benefit loss $X.X attributable financial of offset important XXXX million tax in million of third margin within to third in was our approximately year. Gross expenses to profit to in benefited within the $X.X Energy manufacturing XX.X% CARES of from $X.X Act, of In the last $X.X XXXX The million U.S. segments. quarter gross million as initiatives operating expenses Energy third down the continuing $X driven operating financial reduce million and $X.X product to of year. decreased partially costs. services profit relief quarter the decrease segment quarter decrease mix benefit year-over-year my year-over-year the Income in for year-over-year for government third XXXX. to the impact response and XXXX, product covered in a from by GAAP expenses, P&L. on to coronavirus margins in which compared margins Advanced and of of COVID-XX we compared mix XXXX. note revenue million. quarter partially pandemic. of performance the was of margin was in that tax continued administrative As to the control $X.X enacted last quarter was our salaries result product the provide third and XXXX by by XX.X% to driven decrease offset was segment related our revenue for reflects discretionary $X.X in to income million the by Loss operating quarter

net we from NOL receive of As expect our cash discussed of the operating Act which $X.X call, loss for quarter CARES the to we end tax a XXXX. by first approximately includes on a refund provisions carry-back million

of offset quarter million share $X.X net or We GAAP against also federal quarter million share quarter are of per recognized for XXXX. $X.X further million effective $X.X to million losses in payments an There income $X.XX our approximately income tax the tax approximately net related of of loss or to incurred any of compared $X.XX XXXX. third to benefit Net per reduced XXXX for $X.X XXXX in loss, loss rate. was third XXXX a the which our tax the available of third

EBITDA loss million $X.X EBITDA $X.X adjusted loss was adjusted of year. XXXX quarter compared million an last to Third

reconciliation As EBITDA loss our this net in a adjusted GAAP to a press reminder, morning. we detailed release from provided

We EBITDA quarter. million despite we our of our are the year-over-year, reported in pleased improvement million loss in that third year-over-year decreasing adjusted $X.X $X.X revenue

of as December of XX, compared September the compared to million of of cash company XXXX equivalents The company million as capital XX, equivalents XX, of cash $XX.X of XXXX. $XX.X $XX.X December as of XXXX, XXXX. As million had and and XX, September to cash cash working $XX.X million had

on to we release Turning uncertainties business. call. our the full formal ongoing directional assist earnings COVID-XX providing elected to our the as have to morning, absence will additional we outlook, commentary mentioned by XXXX not In and provide guidance guidance, in today’s given the modeling global XXXX be of press pandemic, posed in challenges this our

to we Overall, move $X continue QX. trends We expect OEM in improvement million approximately continued XXXX. in as be expect our to through revenue we

basis. to continue year-over-year to total expect on revenue we a However, decline

return the QX what quarter hoped see expectations our in on to have shared Importantly, August, in we from fourth revenue results fourth the in a changed for had quarter. growth not the in U.S. we call our where to

a QX U.S. expect business Advanced to our year-over-year basis on sales basis. a and in year-over-year growth report on in international We Advanced Energy a decline Energy in

would lastly, compared this in due sequentially on into our on operating to to translate recent Charlie? our primarily sales to higher benefit Charlie back high Turning overall of margins manufacturing improvement the see I to marketing third would a single-digits to the turn P&L, and the call expenses revenue expect We that, by increase anticipate loss as of we driven but driven sequential to closing also gross the of initiatives primarily similar related handpiece for will result quarter-over-quarter. commissions by our in we year, higher remarks. expenses continued mix, expect QX With geographic sales. EBITDA quarter this the margin. will our And

Charlie Goodwin

Thanks, Tara.

Looking outlook optimistic Advanced ahead, near-term cautiously we respect to Energy business. remain with the for our

direct progresses. continuing practices clinical able result results that remains weather environment a truly we our achieve effects to In is is are surgeons their to this The demand. been of by capital looking with utilization well $XX.X uncertain, that market technology. of growth cash of crowded under-deliver, in results remain the for. million to we our recovery pandemic patients over-promise our and to Renuvion while technologies allows surgeons of have With with differentiate equipment as that a the our delivering the quarter, see capitalized to their at the the strategy the While very handpiece continued strong strength ongoing end that expect impressive execute

cosmetic quickly this multibillion surgery the out growth XXXX, share with our represents. the returning market strong Medical expand close to as to Apyx that to by elevate technology prepare possible opportunity as on for global continuing of and dollar our sustainable this we year focused As is market

the shareholders helping Before we today’s support distributors I like us progress operator, continued for call their in for on now and difficult let’s call With customers, I open impressive to for for this open this questions, commend under for our like quarter the personally their would to line very questions. interest thank achieve and our Medical. employees that everyone Apyx circumstances. would

Operator

And JMP question you. Thank Instructions] Turkaly from [Operator will David from Securities. come our first

live. Your line now is

David Turkaly

existing well you guess your Thanks for and detail. and I us can pipelines new servicing talked would the quarter as just I and know are new like about accounts hear how to like of some likely all can of you but customers think Tara, improve? thoughts with into move existing the are busy folks, fourth all more a continue XXXX folks? the they to bit sounds appreciate I you we your as difficulties as Do adding

Charlie Goodwin

Yes.

look, this we And beginning has And incredible. in U.S. is year-over-year U.S. the a based through that of the XX% steady first So, about before that get working And technology reflection and differentiate we are we July, believe strong is at continue with in QX August, in that these that that the and this now help incredibly after see demand happy with really case. just to and definitely been do the their half of sales to demand. to just of continue. consistent demand call the definitely doctors the they using that is it’s our with handpiece expect were but if you are utilization as this growth just are it’s really, we strong that, state and businesses utilization practices the we able are physicians their of patients, and backlog a after it’s business – of talked

David Turkaly

be received FDA on you I on Got was indications if for those of us you. could thoughts both? latest it. And Thank just as your wondering a sort congrats quick could updates. give follow-up, final the when

Charlie Goodwin

remember go each sometime information, then the February. has we through XX-day will to have last the up enrollment last are to patient as you we completed after follow-up meaning followed need prepare a patient the we that we when analyzed remember, they talking third-party it by that And gather we submission. about need dermal, to in week. So that, reviewers, And XXX(k) be have to need the that

we to from sometime got So with that data and will start the in very do that we start FDA X X. submit IDE that because for Phase believe. then And the them expect everybody, enrollment to are Phase laxity, excited And the working of safety we with are requirements tell we Phase skin that. dermal in of when we met be notification study, will the just that X, we the I with the we start May

So release we will do X. begin when via we press Phase that

David Turkaly

you. Thank

Operator

Thank you.

next Our coming Sandler. question today Matthew is O’Brien from Piper from

Your now line live. is

Matthew O’Brien

these – still guess some Good I great, morning. hotspots guess about that, the I a of California, what U.S., handpieces growth in OUS in are that in COVID questions. but know or and you out Thanks are mean, around your early confidence could breaking what that perspective, can get Tara, the taking QX doing U.S. ‘XX? are you for some cases generator in cases? starters, just confidence? you really of I then you seeing for and to from you that talk I increasing then Illinois, Charlie the gives back the what with that with here gives Texas, these

Charlie Goodwin

Yes.

good very a it’s So, question.

were California seen was in about, that happened Texas, practice, safe over and even able manage think in Arizona keep I their their in you of some customers summer we Florida, what that that them, even demand talking still our that confidence to is that the hotspots there. the and patients that that are have

able now will doctors really assuming between capital are the that lockdowns our fourth we that and of the end major the is of that our in the material And do the mindset and end was they is now the not QX. the so keep that able any with the any the spring will even is it’s – not of and to they And that in between doing environment procedures improvement that in they and weren’t Xth now thing, quarter, will in mindset year. is be there the issue And year. that that to November, be

and So, technology using customers the the the strength demand is of patients. it from existing strength handpiece the of our really demand their our and

Matthew O’Brien

That’s really then… helpful. And

Charlie Goodwin

there. States becomes a little United bit mixed the Outside and obviously it’s trickier a bag

the little Some strict. a of bit are lockdowns in the countries more

the don’t So United it’s fourth why tougher in obviously see and that’s we growth the States outside quarter. there

Matthew O’Brien

it. Got helpful, And that’s then thank you.

you X subderm mentioned submitting think with be I that am on in just, of just to-date months… going are to you for last follow-up a typical the a question As assuming May, approval I kind

Charlie Goodwin

dermal. Dermal,

Matthew O’Brien

Sorry, May. in on dermal

by ‘XX? making and year of new to hopefully investment anticipate we So, ramp next end of as kind what that you be is the you that prepared up head then and expectation approval that get the the into for indication

Charlie Goodwin

Yes.

submit FDA. and we little targeting in whether we has be we back with what of do May. submission publicly So and a it will you because And is at that more, will to in May, been COVID that be running when some remotely will still May days it are been in bit know that XXXX time. who It in that they cases work actually working XX of knows will then submission XXX(k) typically be the submission whether or let

getting there of with But will size come back that be now. media able the to with that will that. far a distribution to hopefully happy there are but be amount investment existing the go really goes, indication won’t in that, of of a social the tremendous as some our not more able to sales stuff force will talk be – be laxity investment will right investment that. in about in investment of And the As on on general the With will we XXXX. our channels amount handle obviously, huge have we also

Matthew O’Brien

you. Thank it. Got

Operator

you. Thank

Matt is Group. today Craig-Hallum from Capital next Our coming Hewitt question from

is line live. now Your

Matt Hewitt

congratulations all the and progress morning here. on Good

balance over reluctance about with bit to things is guess, them going your there months they here just function customers I are uncertain – business little winter of how play am I back of Charlie, question, and that buy of themselves by to up, to of of mentioned a pick you kind some technology they COVID, that new a next normal operations their of First getting and kind is or are the that couple I of of maybe want is a a months? over and function don’t the to sheets more guess

Charlie Goodwin

Yes.

and to that they answer that and It pandemic on they something think view have. is how situation in new investing depends individual the both. I don’t each already that

And so I don’t our got both the along the have I bit think people technology into already, trickier, come for about factors issue in of the don’t fact think into all lot try coming trying to into in the because rules they the to of We pandemic, those technology, of keep obviously have accounts have safe. But the have because partner there are those business patients a you because getting COVID that ours. acquire little practice in that to are the that office their play, that is with that offices a you is have accounts already a where new technology play.

Matt Hewitt

thinking opportunities looking good for Got success year And near-term despite you be next targets at on up Thank had obviously fiscal I of are maybe you. how QX, what any importantly, we the the then and as guess international front? kind ‘XX, international pandemic, some year are look then it. you opening pretty more ongoing should you this there markets have about some new

Charlie Goodwin

Yes.

have fourth the or that into from we things is we countries in are the we we are do. have that obviously, So And quarter XXXX. for to we we these first in going here never and directional thing the talked are contribution the to provided places that the outlook returning growth going international not is baked already this about that

when things work we And extremely been will that how are in to a it know done the group add pursuing there. – focus the want other major are during And we has of is period. We the you to get baked in will with obviously let different do when and to of the all even that So, we area. we we do, has countries still still yes, happy this that registrations And COVID have be. this countries. – ours we and continue that

Matt Hewitt

Thank it. you. Got

Operator

Thank you.

Kyle Our coming from Securities. from Colliers next question is Bauser

live. is line Your now

Kyle Bauser

on color early kind Appreciate morning able call be growth and July, U.S. able October to little on earnings to good updates Advanced how you things about if I Hi, QX ‘XX. trended last talked when quarter is in how of this, but if the in here. the similar and just being in trending you on updates wondering have far missed kind I Energy are bit the division would just any of any on to am a to sorry great? OUS congrats so thoughts return provide additional this

Charlie Goodwin

normalized Yes. Look, give quarter the more into to not – we are to way. for the how was trends back October a going go going to are we

baked into direction. November know, me excuse October happen already you think that directionally gave As – we we what is quarter and obviously is going to in the or fourth

kind So of – as we to get to here. trying much back normal back to going are as get to we can

Kyle Bauser

Sure.

Charlie Goodwin

Yes.

Kyle Bauser

it. regarding the here. quick maybe trials, clinical ones just And Got two

that the time. kind to dermal but it updates I of I on resurfacing, time the the should by enroll X on that submit time appreciate together the by follow-up efficacy So might is And that, a think May, data? be take just trial Does part? to enough off? there Phase the make of then can the of second the shoot do skin long on check events that laxity thought May any was there application adverse to then so sure to kind safety in kind take And May, X-month hit guess just you timing put you how and just then hope weren’t question

Charlie Goodwin

Yes.

other it a is on X-month the is study, IDE follow-up dermal for patients. the XX-day for The So the study.

– has that clear of is X-month needs Okay, resurfacing. so that just submit need there a for laxity, lot the the XXX(k). data and to is things then that, But happen of to for need to one be skin the there is we from lot the a is evaluations to crunched, that of add are evaluators that XX third-party the days so the dermal on XX-day is we

is our obviously, And it do May get so, can we as that plan then we do our as – right it right and it plan also plan we is that our possibly fast we in is to but submit to and to sure way. done the make

that, that, will about do that it’s we our I you And know, the the dermal. when like then on So, usually typically, plan. XX after we days said is let submit but it’s for dermal

For late last IDE, got from the we notification FDA look, the just week. just

update Phase that is know and on Phase we in And we will that that then next everything begin X when X will you In the that. publicly study so to are working point at we start we time. outline let of

Kyle Bauser

Well, great. queue back thanks jump updates the in Alright, it. today. there. for I Got will

Charlie Goodwin

Kyle. Thanks,

Operator

you. Thank

Our from Our next coming Cleveland next Russell Cleveland. is Instruction] today with Renn is Russell Capital. question question [Operator

Your live. line is now

Russell Cleveland

Thanks number. the for

XX% that is on encouraging. very, very the So, sale handpiece plus

the So, our now, as it goals there? the handpieces numbers. on question And important and more more margins on is my around will our increase, margins, handpieces, become the what quarterly are

So, give on equipment to me handpieces margins what for some the color our objectives our the as sale? opposed here are on

Charlie Goodwin

don’t between point break margins we capital out this So, in time. and at equipment the consumables

fourth manufacturing we we drive the the And is, are margins between margin a it continue margins and capital the – gross continue product having and expansion disposable. our I will the improvements so to way but for that’s but and in drive mix into to that breakout just the will XXXX, don’t quarter

Russell Cleveland

am is the interpreting I sales over can margins way obviously that higher that handpiece the much right? have But time,

Charlie Goodwin

Well, move we the don’t but overall the like capital margin XXXX. yes, disposables, gross business, will the forward continue breakout we of for as into into QX I said,

Russell Cleveland

so much for the Okay, thanks numbers.

Charlie Goodwin

Russell. Thanks,

Operator

Thank you.

and our We gentlemen, teleconference. that question-and-answer conclude have reached of end the ladies today’s And session. does

We a thank your wonderful you You have time this at may day. participation for line today. and your disconnect

Tara Semb

Thank you.

Apyx Medical (APYX) 9 Nov 202020 Q3 Earnings call transcript