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Side-by-side financial comparison of Apyx Medical Corp (APYX) and FREQUENCY ELECTRONICS INC (FEIM). Click either name above to swap in a different company.
Apyx Medical Corp is the larger business by last-quarter revenue ($19.2M vs $17.1M, roughly 1.1× FREQUENCY ELECTRONICS INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -6.8%, a 17.3% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs 8.3%). FREQUENCY ELECTRONICS INC produced more free cash flow last quarter ($-1.1M vs $-2.8M). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs 11.8%).
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.
Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.
APYX vs FEIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $19.2M | $17.1M |
| Net Profit | $-1.3M | $1.8M |
| Gross Margin | 62.6% | 38.2% |
| Operating Margin | 0.1% | 10.0% |
| Net Margin | -6.8% | 10.5% |
| Revenue YoY | 34.7% | 8.3% |
| Net Profit YoY | 71.9% | -32.1% |
| EPS (diluted) | — | $0.18 |
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.
| Q4 25 | $19.2M | $17.1M | ||
| Q3 25 | $12.9M | $13.8M | ||
| Q2 25 | $11.4M | $20.0M | ||
| Q1 25 | $9.4M | $18.9M | ||
| Q4 24 | $14.2M | $15.8M | ||
| Q3 24 | $11.5M | $15.1M | ||
| Q2 24 | $12.1M | $15.6M | ||
| Q1 24 | $10.2M | $13.7M |
| Q4 25 | $-1.3M | $1.8M | ||
| Q3 25 | $-2.0M | $634.0K | ||
| Q2 25 | $-3.8M | $3.2M | ||
| Q1 25 | $-4.2M | $15.4M | ||
| Q4 24 | $-4.6M | $2.7M | ||
| Q3 24 | $-4.7M | $2.4M | ||
| Q2 24 | $-6.6M | $2.6M | ||
| Q1 24 | $-7.6M | $130.0K |
| Q4 25 | 62.6% | 38.2% | ||
| Q3 25 | 64.4% | 36.8% | ||
| Q2 25 | 62.3% | 37.5% | ||
| Q1 25 | 60.1% | 43.8% | ||
| Q4 24 | 63.0% | 48.2% | ||
| Q3 24 | 60.5% | 44.4% | ||
| Q2 24 | 61.7% | 40.3% | ||
| Q1 24 | 58.1% | 22.6% |
| Q4 25 | 0.1% | 10.0% | ||
| Q3 25 | -6.5% | 2.6% | ||
| Q2 25 | -22.6% | 16.4% | ||
| Q1 25 | -32.4% | 18.3% | ||
| Q4 24 | -21.4% | 16.5% | ||
| Q3 24 | -31.6% | 15.7% | ||
| Q2 24 | -45.7% | 16.0% | ||
| Q1 24 | -64.6% | -3.4% |
| Q4 25 | -6.8% | 10.5% | ||
| Q3 25 | -15.4% | 4.6% | ||
| Q2 25 | -33.2% | 16.0% | ||
| Q1 25 | -44.0% | 81.4% | ||
| Q4 24 | -32.5% | 16.8% | ||
| Q3 24 | -40.9% | 16.1% | ||
| Q2 24 | -54.0% | 16.9% | ||
| Q1 24 | -74.0% | 0.9% |
| Q4 25 | — | $0.18 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $0.33 | ||
| Q1 25 | — | $1.60 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | — | $0.25 | ||
| Q2 24 | $-0.19 | $0.28 | ||
| Q1 24 | $-0.22 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $31.7M | $3.0M |
| Total DebtLower is stronger | $37.5M | — |
| Stockholders' EquityBook value | $14.5M | $58.5M |
| Total Assets | $66.8M | $92.3M |
| Debt / EquityLower = less leverage | 2.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.7M | $3.0M | ||
| Q3 25 | $25.1M | $4.5M | ||
| Q2 25 | $29.3M | $4.7M | ||
| Q1 25 | $31.0M | $5.5M | ||
| Q4 24 | $31.7M | $9.7M | ||
| Q3 24 | $28.0M | $16.2M | ||
| Q2 24 | $32.7M | $18.3M | ||
| Q1 24 | $37.3M | $11.7M |
| 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 | — | — |
| Q4 25 | $14.5M | $58.5M | ||
| Q3 25 | $5.8M | $56.3M | ||
| Q2 25 | $7.3M | $55.6M | ||
| Q1 25 | $10.5M | $51.8M | ||
| Q4 24 | $14.2M | $36.2M | ||
| Q3 24 | $11.0M | $33.2M | ||
| Q2 24 | $14.7M | $39.8M | ||
| Q1 24 | $20.3M | $36.7M |
| Q4 25 | $66.8M | $92.3M | ||
| Q3 25 | $57.4M | $93.2M | ||
| Q2 25 | $58.2M | $93.7M | ||
| Q1 25 | $60.2M | $86.4M | ||
| Q4 24 | $64.8M | $77.8M | ||
| Q3 24 | $60.7M | $84.3M | ||
| Q2 24 | $65.4M | $83.3M | ||
| Q1 24 | $70.7M | $77.7M |
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.5M | $-523.0K |
| Free Cash FlowOCF − Capex | $-2.8M | $-1.1M |
| FCF MarginFCF / Revenue | -14.6% | -6.6% |
| Capex IntensityCapex / Revenue | 1.4% | 3.6% |
| Cash ConversionOCF / Net Profit | — | -0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $-9.1M | $-5.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $-523.0K | ||
| Q3 25 | $-3.5M | $1.2M | ||
| Q2 25 | $-1.2M | $-155.0K | ||
| Q1 25 | $-702.0K | $-3.6M | ||
| Q4 24 | $-2.9M | $3.8M | ||
| Q3 24 | $-4.4M | $-1.5M | ||
| Q2 24 | $-4.3M | $7.5M | ||
| Q1 24 | $-6.3M | $4.2M |
| Q4 25 | $-2.8M | $-1.1M | ||
| Q3 25 | $-4.1M | $385.0K | ||
| Q2 25 | $-1.5M | $-786.0K | ||
| Q1 25 | $-757.0K | $-4.0M | ||
| Q4 24 | $-3.2M | $3.3M | ||
| Q3 24 | $-4.6M | $-1.8M | ||
| Q2 24 | $-4.6M | $6.7M | ||
| Q1 24 | $-6.4M | $3.9M |
| Q4 25 | -14.6% | -6.6% | ||
| Q3 25 | -31.5% | 2.8% | ||
| Q2 25 | -13.2% | -3.9% | ||
| Q1 25 | -8.0% | -20.9% | ||
| Q4 24 | -22.4% | 20.8% | ||
| Q3 24 | -40.0% | -11.8% | ||
| Q2 24 | -38.0% | 42.8% | ||
| Q1 24 | -62.2% | 28.4% |
| Q4 25 | 1.4% | 3.6% | ||
| Q3 25 | 4.0% | 5.6% | ||
| Q2 25 | 2.3% | 3.2% | ||
| Q1 25 | 0.6% | 1.7% | ||
| Q4 24 | 1.7% | 3.3% | ||
| Q3 24 | 1.3% | 2.2% | ||
| Q2 24 | 2.4% | 5.3% | ||
| Q1 24 | 0.3% | 2.3% |
| Q4 25 | — | -0.29× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | — | -0.05× | ||
| Q1 25 | — | -0.24× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | -0.60× | ||
| Q2 24 | — | 2.85× | ||
| Q1 24 | — | 32.36× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APYX
Segment breakdown not available.
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
