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Side-by-side financial comparison of Apyx Medical Corp (APYX) and FTC Solar, Inc. (FTCI). Click either name above to swap in a different company.
FTC Solar, Inc. is the larger business by last-quarter revenue ($32.9M vs $19.2M, roughly 1.7× Apyx Medical Corp). Apyx Medical Corp runs the higher net margin — -6.8% vs -110.7%, a 104.0% gap on every dollar of revenue. On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs 34.7%). Apyx Medical Corp produced more free cash flow last quarter ($-2.8M vs $-8.4M). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 36.8%).
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.
FTC Solar, Inc. is a leading global provider of advanced solar tracker systems, associated components, and supporting software for solar projects. It serves utility-scale, commercial, and industrial solar segments across key global markets, helping customers boost energy generation efficiency and lower overall project costs.
APYX vs FTCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $19.2M | $32.9M |
| Net Profit | $-1.3M | $-36.4M |
| Gross Margin | 62.6% | 14.9% |
| Operating Margin | 0.1% | -17.2% |
| Net Margin | -6.8% | -110.7% |
| Revenue YoY | 34.7% | 148.9% |
| Net Profit YoY | 71.9% | -197.4% |
| EPS (diluted) | — | $-2.31 |
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 | $32.9M | ||
| Q3 25 | $12.9M | $26.0M | ||
| Q2 25 | $11.4M | $20.0M | ||
| Q1 25 | $9.4M | $20.8M | ||
| Q4 24 | $14.2M | $13.2M | ||
| Q3 24 | $11.5M | $10.1M | ||
| Q2 24 | $12.1M | $11.4M | ||
| Q1 24 | $10.2M | $12.6M |
| Q4 25 | $-1.3M | $-36.4M | ||
| Q3 25 | $-2.0M | $-23.9M | ||
| Q2 25 | $-3.8M | $-15.4M | ||
| Q1 25 | $-4.2M | $-3.8M | ||
| Q4 24 | $-4.6M | $-12.2M | ||
| Q3 24 | $-4.7M | $-15.4M | ||
| Q2 24 | $-6.6M | $-12.2M | ||
| Q1 24 | $-7.6M | $-8.8M |
| Q4 25 | 62.6% | 14.9% | ||
| Q3 25 | 64.4% | 6.1% | ||
| Q2 25 | 62.3% | -19.6% | ||
| Q1 25 | 60.1% | -16.6% | ||
| Q4 24 | 63.0% | -29.1% | ||
| Q3 24 | 60.5% | -42.5% | ||
| Q2 24 | 61.7% | -20.5% | ||
| Q1 24 | 58.1% | -16.7% |
| Q4 25 | 0.1% | -17.2% | ||
| Q3 25 | -6.5% | -29.6% | ||
| Q2 25 | -22.6% | -57.5% | ||
| Q1 25 | -32.4% | -50.8% | ||
| Q4 24 | -21.4% | -101.7% | ||
| Q3 24 | -31.6% | -147.8% | ||
| Q2 24 | -45.7% | -104.3% | ||
| Q1 24 | -64.6% | -99.3% |
| Q4 25 | -6.8% | -110.7% | ||
| Q3 25 | -15.4% | -92.0% | ||
| Q2 25 | -33.2% | -77.2% | ||
| Q1 25 | -44.0% | -18.4% | ||
| Q4 24 | -32.5% | -92.7% | ||
| Q3 24 | -40.9% | -151.5% | ||
| Q2 24 | -54.0% | -107.1% | ||
| Q1 24 | -74.0% | -69.7% |
| Q4 25 | — | $-2.31 | ||
| Q3 25 | — | $-1.61 | ||
| Q2 25 | — | $-1.18 | ||
| Q1 25 | — | $-0.58 | ||
| Q4 24 | — | $-0.95 | ||
| Q3 24 | — | $-1.21 | ||
| Q2 24 | $-0.19 | $-0.97 | ||
| Q1 24 | $-0.22 | $-0.70 |
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 | $21.1M |
| Total DebtLower is stronger | $37.5M | $9.9M |
| Stockholders' EquityBook value | $14.5M | $-43.0M |
| Total Assets | $66.8M | $111.8M |
| Debt / EquityLower = less leverage | 2.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.7M | $21.1M | ||
| Q3 25 | $25.1M | $24.4M | ||
| Q2 25 | $29.3M | $3.5M | ||
| Q1 25 | $31.0M | $5.9M | ||
| Q4 24 | $31.7M | $11.2M | ||
| Q3 24 | $28.0M | $8.3M | ||
| Q2 24 | $32.7M | $10.8M | ||
| Q1 24 | $37.3M | $14.0M |
| Q4 25 | $37.5M | $9.9M | ||
| Q3 25 | $37.5M | $16.6M | ||
| Q2 25 | $37.5M | $10.9M | ||
| Q1 25 | $37.5M | $10.2M | ||
| Q4 24 | $37.5M | $9.5M | ||
| Q3 24 | $37.5M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $14.5M | $-43.0M | ||
| Q3 25 | $5.8M | $-13.7M | ||
| Q2 25 | $7.3M | $9.0M | ||
| Q1 25 | $10.5M | $15.5M | ||
| Q4 24 | $14.2M | $19.0M | ||
| Q3 24 | $11.0M | $30.4M | ||
| Q2 24 | $14.7M | $44.2M | ||
| Q1 24 | $20.3M | $55.2M |
| Q4 25 | $66.8M | $111.8M | ||
| Q3 25 | $57.4M | $111.5M | ||
| Q2 25 | $58.2M | $83.0M | ||
| Q1 25 | $60.2M | $84.1M | ||
| Q4 24 | $64.8M | $89.9M | ||
| Q3 24 | $60.7M | $91.7M | ||
| Q2 24 | $65.4M | $100.3M | ||
| Q1 24 | $70.7M | $115.0M |
| Q4 25 | 2.58× | — | ||
| Q3 25 | 6.41× | — | ||
| Q2 25 | 5.17× | 1.20× | ||
| Q1 25 | 3.57× | 0.65× | ||
| Q4 24 | 2.64× | 0.50× | ||
| 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 | $-8.0M |
| Free Cash FlowOCF − Capex | $-2.8M | $-8.4M |
| FCF MarginFCF / Revenue | -14.6% | -25.7% |
| Capex IntensityCapex / Revenue | 1.4% | 1.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-9.1M | $-34.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $-8.0M | ||
| Q3 25 | $-3.5M | $-14.6M | ||
| Q2 25 | $-1.2M | $-2.3M | ||
| Q1 25 | $-702.0K | $-8.5M | ||
| Q4 24 | $-2.9M | $-16.7M | ||
| Q3 24 | $-4.4M | $-2.4M | ||
| Q2 24 | $-4.3M | $-3.8M | ||
| Q1 24 | $-6.3M | $-11.9M |
| Q4 25 | $-2.8M | $-8.4M | ||
| Q3 25 | $-4.1M | $-15.1M | ||
| Q2 25 | $-1.5M | $-2.5M | ||
| Q1 25 | $-757.0K | $-8.6M | ||
| Q4 24 | $-3.2M | $-17.0M | ||
| Q3 24 | $-4.6M | $-2.6M | ||
| Q2 24 | $-4.6M | $-4.5M | ||
| Q1 24 | $-6.4M | $-12.3M |
| Q4 25 | -14.6% | -25.7% | ||
| Q3 25 | -31.5% | -57.9% | ||
| Q2 25 | -13.2% | -12.4% | ||
| Q1 25 | -8.0% | -41.2% | ||
| Q4 24 | -22.4% | -128.6% | ||
| Q3 24 | -40.0% | -25.6% | ||
| Q2 24 | -38.0% | -39.2% | ||
| Q1 24 | -62.2% | -97.6% |
| Q4 25 | 1.4% | 1.3% | ||
| Q3 25 | 4.0% | 1.7% | ||
| Q2 25 | 2.3% | 0.9% | ||
| Q1 25 | 0.6% | 0.4% | ||
| Q4 24 | 1.7% | 2.2% | ||
| Q3 24 | 1.3% | 2.2% | ||
| Q2 24 | 2.4% | 6.1% | ||
| Q1 24 | 0.3% | 3.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APYX
Segment breakdown not available.
FTCI
| Products | $26.2M | 80% |
| Services | $6.7M | 20% |
