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Side-by-side financial comparison of Apyx Medical Corp (APYX) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
KKR Real Estate Finance Trust Inc. is the larger business by last-quarter revenue ($25.8M vs $19.2M, roughly 1.3× Apyx Medical Corp). Apyx Medical Corp runs the higher net margin — -6.8% vs -101.7%, a 95.0% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs -26.6%). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs -18.8%).
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.
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
APYX vs KREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $19.2M | $25.8M |
| Net Profit | $-1.3M | $-26.2M |
| Gross Margin | 62.6% | — |
| Operating Margin | 0.1% | -105.1% |
| Net Margin | -6.8% | -101.7% |
| Revenue YoY | 34.7% | -26.6% |
| Net Profit YoY | 71.9% | -229.6% |
| EPS (diluted) | — | $-0.49 |
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 | $25.8M | ||
| Q3 25 | $12.9M | $25.3M | ||
| Q2 25 | $11.4M | $30.2M | ||
| Q1 25 | $9.4M | $31.3M | ||
| Q4 24 | $14.2M | $35.1M | ||
| Q3 24 | $11.5M | $37.0M | ||
| Q2 24 | $12.1M | $40.4M | ||
| Q1 24 | $10.2M | $39.1M |
| Q4 25 | $-1.3M | $-26.2M | ||
| Q3 25 | $-2.0M | $13.8M | ||
| Q2 25 | $-3.8M | $-29.7M | ||
| Q1 25 | $-4.2M | $-4.9M | ||
| Q4 24 | $-4.6M | $20.3M | ||
| Q3 24 | $-4.7M | $-7.4M | ||
| Q2 24 | $-6.6M | $25.8M | ||
| Q1 24 | $-7.6M | $-3.1M |
| 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% | — |
| Q4 25 | 0.1% | -105.1% | ||
| Q3 25 | -6.5% | 50.4% | ||
| Q2 25 | -22.6% | -101.3% | ||
| Q1 25 | -32.4% | -18.3% | ||
| Q4 24 | -21.4% | 55.8% | ||
| Q3 24 | -31.6% | -19.6% | ||
| Q2 24 | -45.7% | 63.3% | ||
| Q1 24 | -64.6% | -8.7% |
| Q4 25 | -6.8% | -101.7% | ||
| Q3 25 | -15.4% | 54.4% | ||
| Q2 25 | -33.2% | -98.5% | ||
| Q1 25 | -44.0% | -15.5% | ||
| Q4 24 | -32.5% | 57.7% | ||
| Q3 24 | -40.9% | -20.0% | ||
| Q2 24 | -54.0% | 63.9% | ||
| Q1 24 | -74.0% | -7.9% |
| Q4 25 | — | $-0.49 | ||
| Q3 25 | — | $0.12 | ||
| Q2 25 | — | $-0.53 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | — | $-0.19 | ||
| Q2 24 | $-0.19 | $0.29 | ||
| Q1 24 | $-0.22 | $-0.13 |
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 | $84.6M |
| Total DebtLower is stronger | $37.5M | — |
| Stockholders' EquityBook value | $14.5M | $1.2B |
| Total Assets | $66.8M | $6.5B |
| Debt / EquityLower = less leverage | 2.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.7M | $84.6M | ||
| Q3 25 | $25.1M | $204.1M | ||
| Q2 25 | $29.3M | $107.7M | ||
| Q1 25 | $31.0M | $106.4M | ||
| Q4 24 | $31.7M | $104.9M | ||
| Q3 24 | $28.0M | $108.8M | ||
| Q2 24 | $32.7M | $107.2M | ||
| Q1 24 | $37.3M | $106.5M |
| 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 | $1.2B | ||
| Q3 25 | $5.8M | $1.2B | ||
| Q2 25 | $7.3M | $1.2B | ||
| Q1 25 | $10.5M | $1.3B | ||
| Q4 24 | $14.2M | $1.3B | ||
| Q3 24 | $11.0M | $1.4B | ||
| Q2 24 | $14.7M | $1.4B | ||
| Q1 24 | $20.3M | $1.4B |
| Q4 25 | $66.8M | $6.5B | ||
| Q3 25 | $57.4M | $6.5B | ||
| Q2 25 | $58.2M | $6.8B | ||
| Q1 25 | $60.2M | $6.6B | ||
| Q4 24 | $64.8M | $6.4B | ||
| Q3 24 | $60.7M | $6.8B | ||
| Q2 24 | $65.4M | $7.1B | ||
| Q1 24 | $70.7M | $7.3B |
| 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 | $72.3M |
| Free Cash FlowOCF − Capex | $-2.8M | — |
| FCF MarginFCF / Revenue | -14.6% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-9.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $72.3M | ||
| Q3 25 | $-3.5M | $18.5M | ||
| Q2 25 | $-1.2M | $21.1M | ||
| Q1 25 | $-702.0K | $15.9M | ||
| Q4 24 | $-2.9M | $132.6M | ||
| Q3 24 | $-4.4M | $49.1M | ||
| Q2 24 | $-4.3M | $30.6M | ||
| Q1 24 | $-6.3M | $34.5M |
| 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 | — | ||
| Q1 24 | $-6.4M | — |
| 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% | — | ||
| Q1 24 | -62.2% | — |
| 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% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
