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Apyx Medical cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.9M in Q3 2026 · −$8.9M over twelve months

Operating cash flow−$1.6M
Capital spending−$265K
Free cash flow−$1.9M
Cash conversion cycle249 days

Analysis

In Q3 2026, Apyx Medical generated −$1.6M of operating cash flow and spent $265K on capital projects, leaving free cash flow of −$1.9M. That is $2.2M more than in Q3 2025 (−$4.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$8.2M; the largest uses were operating cash flow ($8.2M), capital spending ($666K), net borrowing (+) / repaid (−) ($21K); besides operations, cash came from other financing ($9.1M), shares issued ($527K); the cash balance rose by $642K.

Operating cash flow was −$1.6M against net income of −$1.8M. The largest differences: receivables −$1.4M, payables +$1.3M, inventory −$1.3M.

Its cash conversion cycle was 249 days (receivables 93 + inventory 208 − payables 52).

Free cash flow

Apyx Medical: free cash flow by quarterApyx Medical: free cash flow by quarter−$3.2MQ4 2024−$757KQ1 2025−$1.5MQ2 2025−$4.1MQ3 2025−$2.8MQ4 2025−$632KQ1 2026−$3.6MQ2 2026−$1.9MQ3 2026
Operating cash flow less capital spending.
Apyx Medical: operating cash flow against capital spendingApyx Medical: operating cash flow against capital spendingOperating cash flowCapital spending−$2.9M$245KQ4 2024−$702K$55KQ1 2025−$1.2M$265KQ2 2025−$3.5M$519KQ3 2025−$2.5M$275KQ4 2025−$572K$60KQ1 2026−$3.5M$66KQ2 2026−$1.6M$265KQ3 2026
Latest (Q3 2026): Operating cash flow −$1.6M, Capital spending $265K.

Capital allocation, year by year

Apyx Medical: where the cash came from (up) and went (down), by fiscal yearApyx Medical: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$10.4MFY2021: Capital spending −$723KFY2021FY2022: Operating cash flow −$20.3MFY2022: Net borrowing −$148KFY2022: Shares issued $365KFY2022: Capital spending −$1.0M$365KFY2022FY2023: Operating cash flow −$5.2MFY2023: Net borrowing $32.4MFY2023: Shares issued $86KFY2023: Asset sales $7.3MFY2023: Capital spending −$533K$39.8MFY2023FY2024: Operating cash flow −$18.0MFY2024: Net borrowing −$20KFY2024: Capital spending −$722KFY2024FY2025: Operating cash flow −$8.0MFY2025: Net borrowing −$20KFY2025: Shares issued $488KFY2025: Capital spending −$1.1M$488KFY2025
Over these 5 years operating cash flow totalled −$62.0M; the largest uses were operating cash flow ($62.0M) and capital spending ($4.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$25.8M
Debt$37.5M
Net debt$11.7M
Cash runway2.9 years

Apyx Medical is burning cash: its operations consume cash, a free cash flow of −$8.9M a year at the current rate against $25.8M of cash and investments: a runway of about 2.9 years before any new financing.

Apyx Medical: debt maturities by year (FY2025)Apyx Medical: debt maturities by year (FY2025)$2.2MYear 2$35.3MYear 3
Principal due in each year as disclosed in the annual report, against $25.8M of cash and investments now.

Where the cash came from and went

Apyx Medical: sources (+) and uses (−) of cash, Q3 2026Apyx Medical: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$1.8MOperating cash flow−$1.6MCapital spending−$265KExchange rates$64KNet borrowing (+) / repaid (−)−$5K
Apyx Medical: sources (+) and uses (−) of cash, TTM to Q3 2026Apyx Medical: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$9.1MOperating cash flow−$8.2MCapital spending−$666KCash drawn (+) / kept (−)−$642KShares issued$527KExchange rates−$24KNet borrowing (+) / repaid (−)−$21K

From profit to cash

Apyx Medical: net income to operating cash flow, Q3 2026Apyx Medical: net income to operating cash flow, Q3 2026Net income−$1.8MDepreciation & amortization$187KStock-based pay$753KReceivables−$1.4MInventory−$1.3MPayables$1.3MAccrued liabilities$217KPrepaid and other assets−$33KOperating cash flow−$1.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20269320852249
Q2 20268618444227
Q1 202610617956229
Q4 20257111440145
Q3 20258717461199
Q2 20259216855205
Q1 202512918259253
Q4 20249214540198

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$1.6M−$265K−$5K—$1.8M−$1.9M
Q2 2026−$3.5M−$66K−$5K—$3.5M−$3.6M
Q1 2026−$572K−$60K−$5K$88K$603K−$632K
Q4 2025−$2.5M−$275K−$6K$439K−$6.6M−$2.8M
Q3 2025−$3.5M−$519K−$4K$49K$4.2M−$4.1M
Q2 2025−$1.2M−$265K−$5K—$1.7M−$1.5M
Q1 2025−$702K−$55K−$5K—$730K−$757K
Q4 2024−$2.9M−$245K−$5K—−$3.7M−$3.2M

Apyx Medical: income statement and cash flow

Apyx Medical, Q3 2026: revenue $14.0M (+9% year over year), operating margin -4.1%. The chart follows the revenue to costs, profit and cash.

Apyx Medical: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.