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Side-by-side financial comparison of Apyx Medical Corp (APYX) and ARROW FINANCIAL CORP (AROW). Click either name above to swap in a different company.

ARROW FINANCIAL CORP is the larger business by last-quarter revenue ($35.0M vs $19.2M, roughly 1.8× Apyx Medical Corp). ARROW FINANCIAL CORP runs the higher net margin — 24.6% vs -6.8%, a 31.4% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs 7.1%). ARROW FINANCIAL CORP produced more free cash flow last quarter ($7.5M vs $-2.8M). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs 6.4%).

Bovie Medical Corporation was an American medical device manufacturer of medical devices, electrosurgical products and energy technologies. It was based in Clearwater, Florida with a manufacturing facility in Bulgaria.

Flagstar Bank, N.A. (FLG), is an American regional financial services holding company headquartered in Hicksville, New York. In 2023, the bank operated 395 branches However, they rebranded all of these under the Flagstar name on February 21, 2024.

APYX vs AROW — Head-to-Head

Bigger by revenue
AROW
AROW
1.8× larger
AROW
$35.0M
$19.2M
APYX
Growing faster (revenue YoY)
APYX
APYX
+27.6% gap
APYX
34.7%
7.1%
AROW
Higher net margin
AROW
AROW
31.4% more per $
AROW
24.6%
-6.8%
APYX
More free cash flow
AROW
AROW
$10.3M more FCF
AROW
$7.5M
$-2.8M
APYX
Faster 2-yr revenue CAGR
APYX
APYX
Annualised
APYX
36.8%
6.4%
AROW

Income Statement — Q4 FY2025 vs Q2 FY2024

Metric
APYX
APYX
AROW
AROW
Revenue
$19.2M
$35.0M
Net Profit
$-1.3M
$8.6M
Gross Margin
62.6%
Operating Margin
0.1%
Net Margin
-6.8%
24.6%
Revenue YoY
34.7%
7.1%
Net Profit YoY
71.9%
42.3%
EPS (diluted)
$0.52

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
APYX
APYX
AROW
AROW
Q4 25
$19.2M
Q3 25
$12.9M
Q2 25
$11.4M
Q1 25
$9.4M
Q4 24
$14.2M
Q3 24
$11.5M
Q2 24
$12.1M
$35.0M
Q1 24
$10.2M
$34.3M
Net Profit
APYX
APYX
AROW
AROW
Q4 25
$-1.3M
Q3 25
$-2.0M
Q2 25
$-3.8M
Q1 25
$-4.2M
Q4 24
$-4.6M
Q3 24
$-4.7M
Q2 24
$-6.6M
$8.6M
Q1 24
$-7.6M
$7.7M
Gross Margin
APYX
APYX
AROW
AROW
Q4 25
62.6%
Q3 25
64.4%
Q2 25
62.3%
Q1 25
60.1%
Q4 24
63.0%
Q3 24
60.5%
Q2 24
61.7%
Q1 24
58.1%
Operating Margin
APYX
APYX
AROW
AROW
Q4 25
0.1%
Q3 25
-6.5%
Q2 25
-22.6%
Q1 25
-32.4%
Q4 24
-21.4%
Q3 24
-31.6%
Q2 24
-45.7%
Q1 24
-64.6%
Net Margin
APYX
APYX
AROW
AROW
Q4 25
-6.8%
Q3 25
-15.4%
Q2 25
-33.2%
Q1 25
-44.0%
Q4 24
-32.5%
Q3 24
-40.9%
Q2 24
-54.0%
24.6%
Q1 24
-74.0%
22.3%
EPS (diluted)
APYX
APYX
AROW
AROW
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
$-0.19
$0.52
Q1 24
$-0.22
$0.45

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
APYX
APYX
AROW
AROW
Cash + ST InvestmentsLiquidity on hand
$31.7M
Total DebtLower is stronger
$37.5M
Stockholders' EquityBook value
$14.5M
$383.0M
Total Assets
$66.8M
$4.2B
Debt / EquityLower = less leverage
2.58×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
APYX
APYX
AROW
AROW
Q4 25
$31.7M
Q3 25
$25.1M
Q2 25
$29.3M
Q1 25
$31.0M
Q4 24
$31.7M
Q3 24
$28.0M
Q2 24
$32.7M
Q1 24
$37.3M
Total Debt
APYX
APYX
AROW
AROW
Q4 25
$37.5M
Q3 25
$37.5M
Q2 25
$37.5M
Q1 25
$37.5M
Q4 24
$37.5M
Q3 24
$37.5M
Q2 24
Q1 24
Stockholders' Equity
APYX
APYX
AROW
AROW
Q4 25
$14.5M
Q3 25
$5.8M
Q2 25
$7.3M
Q1 25
$10.5M
Q4 24
$14.2M
Q3 24
$11.0M
Q2 24
$14.7M
$383.0M
Q1 24
$20.3M
$378.0M
Total Assets
APYX
APYX
AROW
AROW
Q4 25
$66.8M
Q3 25
$57.4M
Q2 25
$58.2M
Q1 25
$60.2M
Q4 24
$64.8M
Q3 24
$60.7M
Q2 24
$65.4M
$4.2B
Q1 24
$70.7M
$4.3B
Debt / Equity
APYX
APYX
AROW
AROW
Q4 25
2.58×
Q3 25
6.41×
Q2 25
5.17×
Q1 25
3.57×
Q4 24
2.64×
Q3 24
3.40×
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
APYX
APYX
AROW
AROW
Operating Cash FlowLast quarter
$-2.5M
$9.1M
Free Cash FlowOCF − Capex
$-2.8M
$7.5M
FCF MarginFCF / Revenue
-14.6%
21.5%
Capex IntensityCapex / Revenue
1.4%
4.5%
Cash ConversionOCF / Net Profit
1.06×
TTM Free Cash FlowTrailing 4 quarters
$-9.1M
$9.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
APYX
APYX
AROW
AROW
Q4 25
$-2.5M
Q3 25
$-3.5M
Q2 25
$-1.2M
Q1 25
$-702.0K
Q4 24
$-2.9M
Q3 24
$-4.4M
Q2 24
$-4.3M
$9.1M
Q1 24
$-6.3M
$10.3M
Free Cash Flow
APYX
APYX
AROW
AROW
Q4 25
$-2.8M
Q3 25
$-4.1M
Q2 25
$-1.5M
Q1 25
$-757.0K
Q4 24
$-3.2M
Q3 24
$-4.6M
Q2 24
$-4.6M
$7.5M
Q1 24
$-6.4M
$9.2M
FCF Margin
APYX
APYX
AROW
AROW
Q4 25
-14.6%
Q3 25
-31.5%
Q2 25
-13.2%
Q1 25
-8.0%
Q4 24
-22.4%
Q3 24
-40.0%
Q2 24
-38.0%
21.5%
Q1 24
-62.2%
26.8%
Capex Intensity
APYX
APYX
AROW
AROW
Q4 25
1.4%
Q3 25
4.0%
Q2 25
2.3%
Q1 25
0.6%
Q4 24
1.7%
Q3 24
1.3%
Q2 24
2.4%
4.5%
Q1 24
0.3%
3.4%
Cash Conversion
APYX
APYX
AROW
AROW
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
1.06×
Q1 24
1.35×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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