Apyx Medical (TASE:PMCN) Corporation (NASDAQ:APYX), a Delaware-incorporated medical device company with a market capitalization of $52.33 million, has formalized the appointment of Shawn Roman as Chief Operating Officer through an Employment Agreement effective January 28, 2025. This development was disclosed in a recent SEC filing. According to InvestingPro data, the company’s stock has shown strong momentum with a 43.69% gain over the past six months, despite analysts anticipating sales decline this year.
Roman’s annual base salary is set at $305,760.52, with the chance to earn at least 50% of this amount as a bonus, contingent on meeting certain objectives. His compensation package also includes eligibility for equity-based incentives, subject to the Compensation Committee’s decisions.
In the event of termination under specified conditions, Roman is entitled to certain unpaid amounts and benefits, provided he complies with the agreement’s terms, including non-violation of restrictive covenants.
The details of this agreement were outlined in an 8-K form filed on Thursday, February 6, 2025. The company’s business address is 5115 Ulmerton Road, Clearwater, Florida, and it operates in the surgical and medical instruments sector.
This report is based on a press release statement and aims to provide only the most relevant information regarding Apyx Medical Corporation’s executive appointment and related compensatory arrangements.
In other recent news, Apyx Medical Corporation has submitted a 510(k) premarket notification to the U.S. Food and Drug Administration (FDA) for its AYON Body Contouring System. This all-in-one device is designed to provide surgeons with a comprehensive solution for body contouring procedures. The company plans to further expand the indications for AYON with an additional 510(k) submission later this year. However, these developments are subject to FDA approval and market reception.
In the company’s financial realm, Apyx Medical reported a decrease in its Q3 2024 total revenue to $11.5 million, a 4% drop from the same period last year, primarily due to a 6% decline in Advanced Energy (NASDAQ:AEIS) product sales. Despite this, the company is optimistic about its upcoming AYON body contouring system, which is expected to launch in the second half of 2025. Apyx Medical is also implementing significant cost-saving measures, including a nearly 25% workforce reduction, expected to save $4.3 million annually.
Lastly, Apyx Medical anticipates its 2024 total revenue to range from $46.6 million to $47.6 million, indicating a 9% to 11% decline from the previous year. For 2025, the company forecasts revenue growth of 2% to 6%, with figures estimated between $47.6 million and $49.5 million. The introduction of the AYON system is anticipated to drive equipment sales growth and expand the company’s market share in aesthetic surgery.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.