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Side-by-side financial comparison of Apyx Medical Corp (APYX) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
Apyx Medical Corp is the larger business by last-quarter revenue ($19.2M vs $14.9M, roughly 1.3× EVERSPIN TECHNOLOGIES INC.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -6.8%, a 4.8% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs 13.2%). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs 18.2%).
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.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
APYX vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $19.2M | $14.9M |
| Net Profit | $-1.3M | $-296.0K |
| Gross Margin | 62.6% | 52.7% |
| Operating Margin | 0.1% | 29.0% |
| Net Margin | -6.8% | -2.0% |
| Revenue YoY | 34.7% | 13.2% |
| Net Profit YoY | 71.9% | — |
| EPS (diluted) | — | $-0.01 |
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.
| Q1 26 | — | $14.9M | ||
| Q4 25 | $19.2M | $14.8M | ||
| Q3 25 | $12.9M | $14.1M | ||
| Q2 25 | $11.4M | $13.2M | ||
| Q1 25 | $9.4M | $13.1M | ||
| Q4 24 | $14.2M | $13.2M | ||
| Q3 24 | $11.5M | $12.1M | ||
| Q2 24 | $12.1M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $-1.3M | $1.2M | ||
| Q3 25 | $-2.0M | $54.0K | ||
| Q2 25 | $-3.8M | $-670.0K | ||
| Q1 25 | $-4.2M | $-1.2M | ||
| Q4 24 | $-4.6M | $1.2M | ||
| Q3 24 | $-4.7M | $2.3M | ||
| Q2 24 | $-6.6M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 62.6% | 50.8% | ||
| Q3 25 | 64.4% | 51.3% | ||
| Q2 25 | 62.3% | 51.3% | ||
| Q1 25 | 60.1% | 51.4% | ||
| Q4 24 | 63.0% | 51.3% | ||
| Q3 24 | 60.5% | 49.2% | ||
| Q2 24 | 61.7% | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | 0.1% | -7.2% | ||
| Q3 25 | -6.5% | -11.0% | ||
| Q2 25 | -22.6% | -14.9% | ||
| Q1 25 | -32.4% | -14.7% | ||
| Q4 24 | -21.4% | -11.8% | ||
| Q3 24 | -31.6% | -17.5% | ||
| Q2 24 | -45.7% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | -6.8% | 8.1% | ||
| Q3 25 | -15.4% | 0.4% | ||
| Q2 25 | -33.2% | -5.1% | ||
| Q1 25 | -44.0% | -8.9% | ||
| Q4 24 | -32.5% | 9.2% | ||
| Q3 24 | -40.9% | 18.8% | ||
| Q2 24 | -54.0% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | — | $0.05 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | $0.07 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | $-0.19 | $-0.12 |
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 | $40.5M |
| Total DebtLower is stronger | $37.5M | — |
| Stockholders' EquityBook value | $14.5M | $70.2M |
| Total Assets | $66.8M | $83.2M |
| Debt / EquityLower = less leverage | 2.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $31.7M | $44.5M | ||
| Q3 25 | $25.1M | $45.3M | ||
| Q2 25 | $29.3M | $45.0M | ||
| Q1 25 | $31.0M | $42.2M | ||
| Q4 24 | $31.7M | $42.1M | ||
| Q3 24 | $28.0M | $39.6M | ||
| Q2 24 | $32.7M | $36.8M |
| Q1 26 | — | — | ||
| 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 26 | — | $70.2M | ||
| Q4 25 | $14.5M | $68.9M | ||
| Q3 25 | $5.8M | $65.8M | ||
| Q2 25 | $7.3M | $64.1M | ||
| Q1 25 | $10.5M | $63.0M | ||
| Q4 24 | $14.2M | $62.6M | ||
| Q3 24 | $11.0M | $59.3M | ||
| Q2 24 | $14.7M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $66.8M | $84.6M | ||
| Q3 25 | $57.4M | $80.3M | ||
| Q2 25 | $58.2M | $78.9M | ||
| Q1 25 | $60.2M | $80.2M | ||
| Q4 24 | $64.8M | $77.8M | ||
| Q3 24 | $60.7M | $72.6M | ||
| Q2 24 | $65.4M | $64.6M |
| Q1 26 | — | — | ||
| 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 | — | — |
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 | $570.0K |
| 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.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-2.5M | $2.6M | ||
| Q3 25 | $-3.5M | $881.0K | ||
| Q2 25 | $-1.2M | $5.0M | ||
| Q1 25 | $-702.0K | $1.4M | ||
| Q4 24 | $-2.9M | $3.8M | ||
| Q3 24 | $-4.4M | $2.8M | ||
| Q2 24 | $-4.3M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.8M | $-975.0K | ||
| Q3 25 | $-4.1M | $543.0K | ||
| Q2 25 | $-1.5M | $3.0M | ||
| Q1 25 | $-757.0K | $527.0K | ||
| Q4 24 | $-3.2M | $2.1M | ||
| Q3 24 | $-4.6M | $2.8M | ||
| Q2 24 | $-4.6M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | -14.6% | -6.6% | ||
| Q3 25 | -31.5% | 3.9% | ||
| Q2 25 | -13.2% | 22.9% | ||
| Q1 25 | -8.0% | 4.0% | ||
| Q4 24 | -22.4% | 15.8% | ||
| Q3 24 | -40.0% | 22.9% | ||
| Q2 24 | -38.0% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 24.3% | ||
| Q3 25 | 4.0% | 2.4% | ||
| Q2 25 | 2.3% | 15.1% | ||
| Q1 25 | 0.6% | 6.9% | ||
| Q4 24 | 1.7% | 13.2% | ||
| Q3 24 | 1.3% | 0.5% | ||
| Q2 24 | 2.4% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.19× | ||
| Q3 25 | — | 16.31× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.16× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APYX
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
