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Side-by-side financial comparison of Apyx Medical Corp (APYX) and NextPlat Corp (NXPL). Click either name above to swap in a different company.
Apyx Medical Corp is the larger business by last-quarter revenue ($19.2M vs $12.8M, roughly 1.5× NextPlat Corp). Apyx Medical Corp runs the higher net margin — -6.8% vs -40.2%, a 33.4% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs -21.1%). NextPlat Corp produced more free cash flow last quarter ($-339.0K vs $-2.8M). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs -14.4%).
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.
APYX vs NXPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $19.2M | $12.8M |
| Net Profit | $-1.3M | $-5.1M |
| Gross Margin | 62.6% | 14.3% |
| Operating Margin | 0.1% | -28.9% |
| Net Margin | -6.8% | -40.2% |
| Revenue YoY | 34.7% | -21.1% |
| Net Profit YoY | 71.9% | -70.6% |
| EPS (diluted) | — | — |
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 | $12.8M | ||
| Q3 25 | $12.9M | $13.8M | ||
| Q2 25 | $11.4M | $13.2M | ||
| Q1 25 | $9.4M | $14.5M | ||
| Q4 24 | $14.2M | $16.2M | ||
| Q3 24 | $11.5M | $15.4M | ||
| Q2 24 | $12.1M | $17.0M | ||
| Q1 24 | $10.2M | $17.5M |
| Q4 25 | $-1.3M | $-5.1M | ||
| Q3 25 | $-2.0M | $-2.2M | ||
| Q2 25 | $-3.8M | $-1.8M | ||
| Q1 25 | $-4.2M | $-1.3M | ||
| Q4 24 | $-4.6M | $-3.0M | ||
| Q3 24 | $-4.7M | $-4.2M | ||
| Q2 24 | $-6.6M | $-5.3M | ||
| Q1 24 | $-7.6M | $-1.5M |
| Q4 25 | 62.6% | 14.3% | ||
| Q3 25 | 64.4% | 19.9% | ||
| Q2 25 | 62.3% | 21.8% | ||
| Q1 25 | 60.1% | 23.8% | ||
| Q4 24 | 63.0% | 16.8% | ||
| Q3 24 | 60.5% | 23.2% | ||
| Q2 24 | 61.7% | 34.5% | ||
| Q1 24 | 58.1% | 27.8% |
| Q4 25 | 0.1% | -28.9% | ||
| Q3 25 | -6.5% | -14.5% | ||
| Q2 25 | -22.6% | -13.8% | ||
| Q1 25 | -32.4% | -10.2% | ||
| Q4 24 | -21.4% | -14.1% | ||
| Q3 24 | -31.6% | -52.1% | ||
| Q2 24 | -45.7% | -64.1% | ||
| Q1 24 | -64.6% | -10.5% |
| Q4 25 | -6.8% | -40.2% | ||
| Q3 25 | -15.4% | -15.9% | ||
| Q2 25 | -33.2% | -13.5% | ||
| Q1 25 | -44.0% | -9.2% | ||
| Q4 24 | -32.5% | -18.6% | ||
| Q3 24 | -40.9% | -27.4% | ||
| Q2 24 | -54.0% | -31.3% | ||
| Q1 24 | -74.0% | -8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.22 | ||
| Q2 24 | $-0.19 | — | ||
| Q1 24 | $-0.22 | $-0.08 |
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 | $13.7M |
| Total DebtLower is stronger | $37.5M | $1.3M |
| Stockholders' EquityBook value | $14.5M | $17.3M |
| Total Assets | $66.8M | $27.5M |
| Debt / EquityLower = less leverage | 2.58× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.7M | $13.7M | ||
| Q3 25 | $25.1M | $13.9M | ||
| Q2 25 | $29.3M | $16.6M | ||
| Q1 25 | $31.0M | $17.7M | ||
| Q4 24 | $31.7M | $20.0M | ||
| Q3 24 | $28.0M | $20.4M | ||
| Q2 24 | $32.7M | $24.9M | ||
| Q1 24 | $37.3M | $23.5M |
| Q4 25 | $37.5M | $1.3M | ||
| Q3 25 | $37.5M | $1.2M | ||
| Q2 25 | $37.5M | $1.2M | ||
| Q1 25 | $37.5M | $1.3M | ||
| Q4 24 | $37.5M | $1.4M | ||
| Q3 24 | $37.5M | $1.5M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $1.4M |
| Q4 25 | $14.5M | $17.3M | ||
| Q3 25 | $5.8M | $21.4M | ||
| Q2 25 | $7.3M | $23.5M | ||
| Q1 25 | $10.5M | $25.3M | ||
| Q4 24 | $14.2M | $27.3M | ||
| Q3 24 | $11.0M | $22.5M | ||
| Q2 24 | $14.7M | $26.5M | ||
| Q1 24 | $20.3M | $31.2M |
| Q4 25 | $66.8M | $27.5M | ||
| Q3 25 | $57.4M | $30.0M | ||
| Q2 25 | $58.2M | $31.0M | ||
| Q1 25 | $60.2M | $35.2M | ||
| Q4 24 | $64.8M | $37.1M | ||
| Q3 24 | $60.7M | $41.1M | ||
| Q2 24 | $65.4M | $51.5M | ||
| Q1 24 | $70.7M | $65.1M |
| Q4 25 | 2.58× | 0.07× | ||
| Q3 25 | 6.41× | 0.05× | ||
| Q2 25 | 5.17× | 0.05× | ||
| Q1 25 | 3.57× | 0.05× | ||
| Q4 24 | 2.64× | 0.05× | ||
| Q3 24 | 3.40× | 0.07× | ||
| Q2 24 | — | 0.05× | ||
| Q1 24 | — | 0.04× |
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 | $-302.0K |
| Free Cash FlowOCF − Capex | $-2.8M | $-339.0K |
| FCF MarginFCF / Revenue | -14.6% | -2.6% |
| Capex IntensityCapex / Revenue | 1.4% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-9.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $-302.0K | ||
| Q3 25 | $-3.5M | $-2.7M | ||
| Q2 25 | $-1.2M | $-1.0M | ||
| Q1 25 | $-702.0K | $-2.1M | ||
| Q4 24 | $-2.9M | $-476.0K | ||
| Q3 24 | $-4.4M | $-4.6M | ||
| Q2 24 | $-4.3M | $2.3M | ||
| Q1 24 | $-6.3M | $-2.7M |
| Q4 25 | $-2.8M | $-339.0K | ||
| Q3 25 | $-4.1M | — | ||
| Q2 25 | $-1.5M | $-1.1M | ||
| Q1 25 | $-757.0K | $-2.1M | ||
| Q4 24 | $-3.2M | $-508.0K | ||
| Q3 24 | $-4.6M | $-4.7M | ||
| Q2 24 | $-4.6M | $2.2M | ||
| Q1 24 | $-6.4M | $-2.7M |
| Q4 25 | -14.6% | -2.6% | ||
| Q3 25 | -31.5% | — | ||
| Q2 25 | -13.2% | -8.0% | ||
| Q1 25 | -8.0% | -14.3% | ||
| Q4 24 | -22.4% | -3.1% | ||
| Q3 24 | -40.0% | -30.6% | ||
| Q2 24 | -38.0% | 13.2% | ||
| Q1 24 | -62.2% | -15.7% |
| Q4 25 | 1.4% | 0.3% | ||
| Q3 25 | 4.0% | 0.0% | ||
| Q2 25 | 2.3% | 0.1% | ||
| Q1 25 | 0.6% | 0.2% | ||
| Q4 24 | 1.7% | 0.2% | ||
| Q3 24 | 1.3% | 0.6% | ||
| Q2 24 | 2.4% | 0.4% | ||
| Q1 24 | 0.3% | 0.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APYX
Segment breakdown not available.
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
