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Side-by-side financial comparison of Apyx Medical Corp (APYX) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
WEST BANCORPORATION INC is the larger business by last-quarter revenue ($26.9M vs $19.2M, roughly 1.4× Apyx Medical Corp). WEST BANCORPORATION INC runs the higher net margin — 39.2% vs -6.8%, a 46.0% gap on every dollar of revenue. On growth, Apyx Medical Corp posted the faster year-over-year revenue change (34.7% vs 16.6%). WEST BANCORPORATION INC produced more free cash flow last quarter ($12.4M vs $-2.8M). Over the past eight quarters, Apyx Medical Corp's revenue compounded faster (36.8% CAGR vs 17.3%).
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.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
APYX vs WTBA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $19.2M | $26.9M |
| Net Profit | $-1.3M | $10.6M |
| Gross Margin | 62.6% | — |
| Operating Margin | 0.1% | 50.0% |
| Net Margin | -6.8% | 39.2% |
| Revenue YoY | 34.7% | 16.6% |
| Net Profit YoY | 71.9% | 34.8% |
| EPS (diluted) | — | $0.61 |
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 | — | $26.9M | ||
| Q4 25 | $19.2M | $24.2M | ||
| Q3 25 | $12.9M | $25.0M | ||
| Q2 25 | $11.4M | $23.8M | ||
| Q1 25 | $9.4M | $23.1M | ||
| Q4 24 | $14.2M | $20.9M | ||
| Q3 24 | $11.5M | $20.3M | ||
| Q2 24 | $12.1M | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | $-1.3M | $7.4M | ||
| Q3 25 | $-2.0M | $9.3M | ||
| Q2 25 | $-3.8M | $8.0M | ||
| Q1 25 | $-4.2M | $7.8M | ||
| Q4 24 | $-4.6M | $7.1M | ||
| Q3 24 | $-4.7M | $6.0M | ||
| Q2 24 | $-6.6M | $5.2M |
| Q1 26 | — | — | ||
| 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 26 | — | 50.0% | ||
| Q4 25 | 0.1% | 39.6% | ||
| Q3 25 | -6.5% | 45.8% | ||
| Q2 25 | -22.6% | 43.4% | ||
| Q1 25 | -32.4% | 43.4% | ||
| Q4 24 | -21.4% | 30.9% | ||
| Q3 24 | -31.6% | 36.6% | ||
| Q2 24 | -45.7% | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | -6.8% | 30.7% | ||
| Q3 25 | -15.4% | 37.3% | ||
| Q2 25 | -33.2% | 33.5% | ||
| Q1 25 | -44.0% | 34.0% | ||
| Q4 24 | -32.5% | 34.0% | ||
| Q3 24 | -40.9% | 29.3% | ||
| Q2 24 | -54.0% | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | — | $0.44 | ||
| Q3 25 | — | $0.55 | ||
| Q2 25 | — | $0.47 | ||
| Q1 25 | — | $0.46 | ||
| Q4 24 | — | $0.41 | ||
| Q3 24 | — | $0.35 | ||
| Q2 24 | $-0.19 | $0.31 |
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 | $362.0M |
| Total DebtLower is stronger | $37.5M | — |
| Stockholders' EquityBook value | $14.5M | $270.7M |
| Total Assets | $66.8M | $4.0B |
| Debt / EquityLower = less leverage | 2.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $31.7M | $471.1M | ||
| Q3 25 | $25.1M | $232.9M | ||
| Q2 25 | $29.3M | $345.2M | ||
| Q1 25 | $31.0M | — | ||
| Q4 24 | $31.7M | $243.5M | ||
| Q3 24 | $28.0M | — | ||
| Q2 24 | $32.7M | — |
| 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 | — | $270.7M | ||
| Q4 25 | $14.5M | $266.0M | ||
| Q3 25 | $5.8M | $255.1M | ||
| Q2 25 | $7.3M | $240.9M | ||
| Q1 25 | $10.5M | $237.9M | ||
| Q4 24 | $14.2M | $227.9M | ||
| Q3 24 | $11.0M | $235.4M | ||
| Q2 24 | $14.7M | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $66.8M | $4.1B | ||
| Q3 25 | $57.4M | $4.0B | ||
| Q2 25 | $58.2M | $4.1B | ||
| Q1 25 | $60.2M | $4.0B | ||
| Q4 24 | $64.8M | $4.0B | ||
| Q3 24 | $60.7M | $4.0B | ||
| Q2 24 | $65.4M | $4.0B |
| 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 | $12.9M |
| Free Cash FlowOCF − Capex | $-2.8M | $12.4M |
| FCF MarginFCF / Revenue | -14.6% | 46.0% |
| Capex IntensityCapex / Revenue | 1.4% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-9.1M | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $-2.5M | $46.5M | ||
| Q3 25 | $-3.5M | $11.4M | ||
| Q2 25 | $-1.2M | $13.5M | ||
| Q1 25 | $-702.0K | $9.7M | ||
| Q4 24 | $-2.9M | $39.8M | ||
| Q3 24 | $-4.4M | $12.9M | ||
| Q2 24 | $-4.3M | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | $-2.8M | $43.2M | ||
| Q3 25 | $-4.1M | $10.8M | ||
| Q2 25 | $-1.5M | $12.8M | ||
| Q1 25 | $-757.0K | $8.3M | ||
| Q4 24 | $-3.2M | $13.7M | ||
| Q3 24 | $-4.6M | $7.0M | ||
| Q2 24 | $-4.6M | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | -14.6% | 178.3% | ||
| Q3 25 | -31.5% | 43.0% | ||
| Q2 25 | -13.2% | 53.6% | ||
| Q1 25 | -8.0% | 35.7% | ||
| Q4 24 | -22.4% | 65.6% | ||
| Q3 24 | -40.0% | 34.2% | ||
| Q2 24 | -38.0% | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | 1.4% | 13.7% | ||
| Q3 25 | 4.0% | 2.6% | ||
| Q2 25 | 2.3% | 3.2% | ||
| Q1 25 | 0.6% | 6.5% | ||
| Q4 24 | 1.7% | 125.3% | ||
| Q3 24 | 1.3% | 29.4% | ||
| Q2 24 | 2.4% | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | — | 6.26× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.70× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 5.61× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
