Apyx Medical Corp (APYX) 2023 Q4 法說會逐字稿

Yes, hello, and welcome, ladies and gentlemen, to the fourth quarter and fiscal year 2023 earnings conference call for Apex Medical Corporation. At this time, all participants have been placed in a listen only mode. At the end of the Company's prepared remarks, we will conduct a question and answer session. Please note that this conference call is being recorded and the recording will be available on the company's website for replay shortly.

是的，女士們、先生們，大家好，歡迎參加 Apex Medical Corporation 第四季和 2023 財年財報電話會議。此時，所有參與者均已置於僅聽模式。在公司準備好的發言結束後，我們將舉行問答環節。請注意，本次電話會議正在錄音，錄音很快就會在公司網站上提供重播。

Before we begin, I'd like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements that are based on the current expectations of management and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated, including without limitation, those are identified in the Risk Factors section of our most recent annual report on Form 10-K, our most recent 10-Q filing and the company's or other filings with the Securities and Exchange Commission. Such factors may be updated from time to time in our filings with the SEC, which are available on our website.

在開始之前，我想提醒大家，我們今天的言論和對你們問題的回答可能包含基於管理層當前預期的前瞻性陳述，並涉及固有風險和不確定性，可能導致實際結果與實際結果有重大差異。這些指出的，包括但不限於我們最新的 10-K 表年度報告、我們最近的 10-Q 文件以及公司向美國證券交易委員會提交的文件或其他文件的風險因素部分中確定的內容。這些因素可能會在我們向 SEC 提交的文件中不時更新，這些文件可在我們的網站上找到。

We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise. This call will also include references to certain financial measures that are not calculated in accordance with generally accepted accounting principles or GAAP. We generally refer to these non-GAAP financial measures. Reconciliations of those non-GAAP financial measures to the most comparable calculated and presented in accordance with GAAP are available in the earnings press release on the Investor Relations portion of our website.

我們不承擔因新資訊、未來事件或其他情況而公開更新或修改我們的前瞻性陳述的義務。這次電話會議也將提及某些未依公認會計原則或公認會計原則計算的財務指標。我們通常指的是這些非公認會計準則財務指標。這些非公認會計原則財務指標與根據公認會計原則計算和呈現的最具可比性的財務指標的調節可在我們網站投資者關係部分的收益新聞稿中找到。

I will now turn the call over to Mr. Charlie Goodwin, Apyx Medical's President and Chief Executive Officer, please go ahead.

現在我將把電話轉給 Apyx Medical 總裁兼執行長 Charlie Goodwin 先生，請繼續。

Thanks, operator, and welcome, everyone, to our fourth quarter and fiscal year 2023 earnings call. I'm joined on today's call by Matt Hill, our Chief Financial Officer, before we delve in, let me provide a quick outline for the call. First, I'll discuss our quarterly revenue performance as well as some of the notable operational progress we made during the fourth quarter.

感謝營運商，歡迎大家參加我們的第四季和 2023 財年財報電話會議。我們的財務長 Matt Hill 參加了今天的電話會議，在我們深入探討之前，讓我先簡單介紹一下這次電話會議的大綱。首先，我將討論我們的季度營收表現以及我們在第四季取得的一些顯著的營運進度。

Matt will then review our quarterly financial results and our 2024 fiscal guidance, which we introduced in today's earnings release. I'll conclude by sharing some additional thoughts on our outlook and priorities for 2024 before we open the call for questions with this as a backdrop, let's begin with the review of our fourth quarter revenue results total revenue in the fourth quarter increased 16% year over year to $14.7 million. Our total revenue growth was predominantly driven by sales of our advanced energy products which increased 15% year over year to $12.1 million. However, we also saw strong contributions from sales of our OEM products, which increased 22% year over year $2.5 million.

然後，Matt 將審查我們在今天的財報中介紹的季度財務業績和 2024 年財務指引。最後，在我們開始提問之前，我將分享一些關於2024 年前景和優先事項的額外想法，在此背景下，讓我們先回顧一下我們第四季度的收入結果，第四季度的總收入同比增長了16%全年增至 1,470 萬美元。我們的總收入成長主要得益於先進能源產品的銷售，年增 15% 至 1,210 萬美元。然而，我們也看到了 OEM 產品銷售額的強勁貢獻，年增 22%，達 250 萬美元。

Turning to a more detailed discussion of the growth drivers in our Advanced Energy segment. From a product standpoint, our Advanced Energy sales growth was driven by double digit growth in sales of both generators and handpieces, which increased by more than 25% and 10% respectively. And from a geographic standpoint, the majority of our advanced energies sales growth was driven by sales to our U.S. customers in the US. Specifically, our Advanced Energy sales growth was fueled primarily by sales of our handpieces, which increased by more than 35% year over year, reflecting an uptick in utilization face demand. We also saw double digit growth in US generator sales, which increased by more than 15% year over year, our U.S. generator sales growth benefited from sales of our next-generation generator system, the APEX one console to existing customers.

接下來更詳細討論先進能源領域的成長動力。從產品角度來看，我們的 Advanced Energy 銷售額成長是由發電機和手機銷售額兩位數成長推動的，分別成長超過 25% 和 10%。從地理角度來看，我們先進能源銷售成長的大部分是由對美國客戶的銷售所推動的。具體來說，我們的 Advanced Energy 銷售成長主要是由手機銷售推動的，該銷售年增超過 35%，反映出利用率需求的上升。我們也看到美國發電機銷售出現兩位數成長，年成長超過 15%，我們美國發電機銷售的成長得益於我們向現有客戶銷售下一代發電機系統 APEX one 主機。

As a reminder, when we launched this new generator system, at the beginning of 2023, we introduced an upgrade program for our existing users, enabling them to trade in their prior generation system to obtain discounted pricing on the APEX one. Meanwhile, sales of our generators to new U.S. customers decreased slightly year over year as demand for capital equipment in the cosmetic surgery market continued to be impacted, which I will discuss in further detail shortly.

提醒一下，當我們在 2023 年初推出這項新的發電機系統時，我們為現有用戶推出了一項升級計劃，使他們能夠以以上一代系統進行交易，以獲得 APEX 系統的折扣價格。同時，由於整容手術市場對固定設備的需求持續受到影響，我們對美國新客戶的發電機銷量同比略有下降，我將很快對此進行更詳細的討論。

With respect to our Advanced Energy sales growth outside the United States, international sales of our generators increased by more than 80% year over year. This performance was largely offset by sales of our handpieces, which decreased more than 15% year over year.

就我們的 Advanced Energy 在美國以外的銷售成長而言，我們發電機的國際銷售年增了 80% 以上。這一業績在很大程度上被我們手機的銷量所抵消，該銷量同比下降了 15% 以上。

In summary, the 15% year-over-year growth that we saw in global Advanced Energy revenue was driven by double digit growth in sales of both generators and handpieces due to growth in global generator sales and U.S. handpiece sales. As we shared in our preliminary earnings release in January, our Advanced Energy sales performance fell short of the guidance we provided on our third quarter earnings call, which had called for Advanced Energy revenue in the fourth quarter of at least $13.3 million relative to our expectations. We were pleased with our handpiece sales performance in the fourth quarter. We saw the saw strong sequential improvements relative to the third quarter, which was consistent with the guidance related assumptions that we articulated on our last earnings call with respect to generator sales. As a reminder, during the third quarter we observed softness in the overall market for cosmetic surgery capital equipment with more prospective customers, delaying capital equipment purchases, citing broader macro economic uncertainty and high interest rates. Our team moved quickly to expand our support for prospective surgeon customers, introducing additional financing options in September to provide them with further financial flexibility.

總而言之，我們看到全球 Advanced Energy 營收年增 15%，這是由於全球發電機銷量和美國手機銷量的成長，發電機和手機銷量的兩位數成長推動的。正如我們在1 月份的初步財報中所分享的那樣，我們的Advanced Energy 銷售業績未達到我們在第三季度財報電話會議上提供的指導，該電話會議要求Advanced Energy 第四季度的收入相對於我們的預期至少為1,330 萬美元。我們對第四季手機的銷售業績感到滿意。我們看到相對於第三季的強勁連續改善，這與我們在上次財報電話會議上闡述的有關發電機銷售的指導相關假設一致。提醒一下，在第三季度，我們觀察到整容手術資本設備整體市場疲軟，潛在客戶增多，因此推遲了資本設備採購，理由是更廣泛的宏觀經濟不確定性和高利率。我們的團隊迅速採取行動，擴大對潛在外科醫生客戶的支持，並於 9 月推出了額外的融資選項，為他們提供進一步的財務靈活性。

As we shared on our last earnings call, our guidance has assumed that the capital equipment buying environment would remain similarly challenged in the fourth quarter. However, we expect to see sequential growth in generator sales from Q3 to Q4 as the fourth quarter has traditionally represented our seasonally strongest quarter of the year. From a generator sales perspective, the capital equipment environment in the fourth quarter proved to be more challenging than we had anticipated with more prospective customers delaying investments, given continued concerns related to broader macro economic uncertainty as well as the financing environment. As a result, generator revenue growth in the fourth quarter was essentially flat relative to the third. Ultimately, we managed to generate significant year-over-year growth in our Advanced Energy business. In spite of these headwinds, with global generator sales increasing by more than 25% year over year, fueled by growth in the US and internationally. Our sales performance in the fourth quarter enabled us to return to double digit double digit revenue growth on a full year basis in 2023. And in addition to our revenue performance, our continued focus on controlling our expenses position us to deliver improvements in our annual net loss attributable to stockholders and adjusted EBITDA loss of 19% and 13% respectively, along with significant reduction in cash used in operations this past year.

正如我們在上次財報電話會議上分享的那樣，我們的指導假設第四季度資本設備購買環境仍將面臨類似的挑戰。然而，我們預計第三季至第四季發電機銷量將連續成長，因為第四季傳統上代表了我們一年中季節性最強的季度。從發電機銷售的角度來看，鑑於對更廣泛的宏觀經濟不確定性以及融資環境的持續擔憂，第四季度的資本設備環境比我們預期的更具挑戰性，更多的潛在客戶推遲了投資。因此，第四季發電機收入成長與第三季基本持平。最終，我們的先進能源業務實現了同比顯著成長。儘管存在這些不利因素，在美國和國際市場成長的推動下，全球發電機銷量仍年增 25% 以上。第四季的銷售業績使我們能夠在 2023 年全年恢復兩位數的營收成長。除了我們的收入表現外，我們繼續專注於控制開支，使我們能夠將股東應佔的年度淨虧損和調整後的 EBITDA 虧損分別改善為 19% 和 13%，同時營運中使用的現金也大幅減少。過去的一年。

Turning to our fourth quarter operational highlights, we made notable progress in several key areas during the quarter, introducing new products, raising awareness in the market, strengthening our balance sheet and enhancing our team from a new product standpoint, we completed the limited market release of our Renuvion micro handpiece during the initial weeks of the fourth quarter, which provided us with important feedback to enhance our surgeon training protocols. In late November, we initiated our full U.S. commercial launch of the micro handpiece, consistent with our stated goal of launching by year end during the initial weeks following the launch, we have been pleased to see that the response from our US customers has been consistent with the feedback obtained during our limited market release. As a reminder, our Renuvion micro handpiece features a smaller profile instrument shaft with a diameter that is half the width of our Renuvion APR handpiece surgeons have shared that devices, smaller profile, make it ideal for accessing and delivering energy contracting the soft tissue in more delicate and sensitive areas of the body in addition to completing and expanding the capabilities of our existing product offering. Remember that our Renuvion micro handpiece is only compatible with our latest generation generator system. The APEX one console, in addition to the APEX one's enhanced features, the Renuvion micro handpiece represents another important benefit to adopting our next generator next generation generator system.

談到我們第四季度的營運亮點，本季我們在幾個關鍵領域取得了顯著進展，推出新產品，提高市場認知度，加強我們的資產負債表，從新產品的角度增強我們的團隊，我們完成了有限的市場發布我們在第四季度的最初幾週內對我們的 Renuvion 微型手機進行了測試，這為我們提供了重要的反饋，以加強我們的外科醫生培訓方案。11 月下旬，我們開始在美國全面商業推出微型手機，這符合我們在推出後最初幾週內於年底前推出的既定目標，我們很高興看到美國客戶的反應一致以及我們在有限市場發布期間獲得的反饋。提醒一下，我們的Renuvion 微型手機具有外形較小的儀器軸，其直徑是我們的Renuvion APR 手機寬度的一半。外科醫生表示，外形較小的設備使其成為獲取和傳遞能量以更多方式收縮軟組織的理想選擇。除了完善和擴展我們現有產品的功能之外，還可以針對身體脆弱和敏感的部位。請記住，我們的 Renuvion 微型手機僅與我們最新一代的發電機系統相容。APEX one 控制台除了 APEX one 的增強功能外，Renuvion 微型手機代表了採用我們的下一代發電機下一代發電機系統的另一個重要優勢。

In addition to introducing the micro handpiece, our team remained focused on educating the market about the strong safety and efficacy profile of our Renuvion technology as well as our latest FDA clearances with specific clinical indications for use, we participated in seven medical meetings and trade shows during the fourth quarter. The highlight of which was the ASPS. Plastic Surgery meeting hosted in late October. Our programming at the event featured an educational session led by three surgeons, which drew attendance from approximately 60 clinicians. We also hosted our second Latin America users meeting during the fourth quarter with panel discussions and presentations from 27 speakers, including some of the most successful surgeon customers. This event was attended by more than 130 clinicians from 14 countries. Ultimately, our Renuvion technology was featured in approximately 40 podium presentations at medical meetings and other industry events during the course of the fourth quarter, helping to broaden the awareness of our technology and its capabilities in the medical community and at the patient level, we continue to develop our DTC. initiatives, launching a new campaign near the end of the year that emphasizes Renuvion role in body contouring procedures with materials illustrating the real results obtained by Renuvion patients. We also made important progress in our efforts to enhance our sales, marketing and executive leadership teams with the addition of key personnel. As we shared last quarter, we conducted a strategic reorganization of our sales and marketing team during the fourth quarter. On the sales side, we implemented several planned departures within our team of direct sales reps in the US and expanded the territory of some of our top performers to improve the overall predicted productivity of our sales team internationally, we also brought in new leadership to manage our distributor relations in East Asia. From a marketing perspective, we hired a new head of marketing with extensive experience in developing and managing direct-to-consumer advertising campaigns for medical device and other health care companies. And most recently, we added a new Senior Director of Marketing who joins our team with over a decade of experience in the medical device industry, including significant experience in the cosmetic surgery space.

除了推出微型手機外，我們的團隊仍然專注於向市場宣傳我們的 Renuvion 技術的強大安全性和有效性，以及我們最新的 FDA 許可和特定臨床使用適應症，我們參加了七次醫療會議和貿易展覽第四季期間。其中的亮點是ASPS。十月下旬舉辦的整形外科會議。我們在此次活動中安排了由三名外科醫生主持的教育課程，吸引了大約 60 名臨床醫生參加。我們還在第四季度舉辦了第二次拉丁美洲用戶會議，其中包括 27 位發言人（其中包括一些最成功的外科醫生客戶）的小組討論和演示。來自 14 個國家的 130 多名臨床醫生參加了這項活動。最終，我們的 Renuvion 技術在第四季度的醫療會議和其他行業活動中的大約 40 場講台演講中得到了展示，有助於擴大醫學界和患者層面對我們的技術及其能力的認識，我們繼續開發我們的DTC。倡議，在年底發起了一項新的活動，強調 Renuvion 在身體輪廓手術中的作用，並提供說明 Renuvion 患者獲得的真實結果的材料。透過增加關鍵人員，我們在增強銷售、行銷和執行領導團隊方面也取得了重要進展。正如我們上季度分享的那樣，我們在第四季度對銷售和行銷團隊進行了策略重組。在銷售方面，我們在美國的直銷代表團隊中實施了多次計劃離職，並擴大了一些表現出色的人員的業務範圍，以提高我們國際銷售團隊的整體預測生產力，我們還引入了新的領導層來管理我們在東亞的經銷商關係。從行銷角度來看，我們聘請了一位新的行銷主管，他在為醫療器材和其他醫療保健公司開發和管理直接面向消費者的廣告活動方面擁有豐富的經驗。最近，我們增加了一位新的高級行銷總監，他加入我們的團隊，在醫療器材行業擁有十多年的經驗，包括在整容手術領域的豐富經驗。

In addition to this key talent, we were pleased to announce the appointment of Matt Hill as our Chief Financial Officer. Matt joined our executive leadership team with over 30 years of financial and operational experience. More than 20 years of his career had been devoted to the life science industry, where Matt has served as CFO of four publicly traded companies most recently at PDS, biotech and scrap to STRATA Skin Sciences. I'd like to take the opportunity on today's call to welcome Matt and the other new members of the APEX medical team.

除了這些關鍵人才之外，我們還很高興地宣布任命馬特希爾 (Matt Hill) 為我們的財務長。Matt 加入我們的執行領導團隊時擁有 30 多年的財務和營運經驗。他 20 多年的職業生涯一直致力於生命科學行業，Matt 曾擔任四家上市公司的首席財務官，最近擔任 PDS、生物技術和 STRATA Skin Sciences 的廢料公司的首席財務官。我想藉此機會歡迎馬特和 APEX 醫療團隊的其他新成員。

Lastly, we enhanced our balance sheet condition and financial flexibility. We entered into a new five year agreement with Perceptive Advisors for a facility of up to $45 million in senior secured loans, providing us with $37.5 million of proceeds. At closing, we used approximately $11 million of these proceeds to satisfy all obligations under the prior credit agreement, as well as approximately $2.7 million of transaction fees and other expenses related to the transactions. We were pleased to leverage the progress we've made as an organization over the course of 2023 to negotiate this new facility, which expanded our access to capital and at more favorable terms.

最後，我們增強了資產負債表狀況和財務靈活性。我們與 Perceptive Advisors 簽訂了一項新的五年協議，提供高達 4,500 萬美元的優先擔保貸款，為我們提供了 3,750 萬美元的收益。在交易完成時，我們使用了其中約 1,100 萬美元的收益來履行先前信貸協議項下的所有義務，以及約 270 萬美元的交易費用和與交易相關的其他費用。我們很高興利用我們作為一個組織在 2023 年取得的進展來談判這項新設施，這擴大了我們以更優惠的條件獲得資本的機會。

In summary, 2023 as a whole proved to be an important transitional year for Apyx Medical. We set out with four stated strategic objectives first to secure additional clinical indications for use, addressing the remaining limitations of the FDA safety communication and improving our ability to market our technology, second, to enhance our new product portfolio. Third, to expand our portfolio of clinical evidence supporting the use of our products and force to manage our expenses while driving progress towards profitability. I'm pleased our team was able to accomplish each of these four objectives during the course of the year with the progress made on all of these fronts. We believe that we are well positioned to expand our presence in the global cosmetic surgery market and with $44 million of cash and equivalents at year end. We believe we are sufficiently capitalized to fund our initiatives as we continue to target achieving sustainable and profitable growth in the future.

綜上所述，2023年對Apyx Medical來說是重要的過渡年。我們制定了四個明確的策略目標，首先是確保額外的臨床使用適應症，解決 FDA 安全溝通的剩餘限制並提高我們的技術行銷能力，其次是增強我們的新產品組合。第三，擴大支持我們產品使用的臨床證據組合，並強制管理我們的費用，同時推動獲利。我很高興我們的團隊能夠在這一年中實現這四個目標，並在所有這些方面取得進展。我們相信，我們有能力擴大我們在全球整容手術市場的影響力，到年底我們將擁有 4400 萬美元的現金和等價物。我們相信，我們有足夠的資本來資助我們的舉措，因為我們繼續致力於在未來實現可持續和盈利的成長。

Matt will now review the fourth quarter financial results in more detail, along with our financial guidance for 2024, which we introduced in today's release at.

Matt 現在將更詳細地回顧第四季度的財務業績，以及我們在今天的新聞稿中介紹的 2024 年財務指引。

Thanks, Charlie.

謝謝，查理。

I'm excited to join the Apex medical team during this important stage in the Company's development and look forward to continue building on the progress made in the recent years.

我很高興能在公司發展的這個重要階段加入 Apex 醫療團隊，並期待在近年來取得的進步的基礎上繼續前進。

Given that Charlie has discussed, our revenue results I will begin at the gross profit line. Unless noted otherwise, all references to fourth quarter financial results are on a GAAP and year over year basis. Gross profit for the fourth quarter of 2023 increased $0.7 million or 8% to $8.9 million. Gross profit margin was 60.9% compared to 65.3% in the prior year period.

鑑於查理已經討論過，我們的收入結果我將從毛利線開始。除非另有說明，所有對第四季度財務表現的引用均按公認會計準則和同比計算。2023 年第四季毛利增加 70 萬美元，或 8%，達到 890 萬美元。毛利率為 60.9%，去年同期為 65.3%。

The decrease in our gross margin was driven primarily by changes in the product mix within our Advanced Energy segment as well as lower average selling prices due to changes in our customer mix, higher material and inbound shipping costs to manufacture our inventory and additional reserves on inventories as a result of lower than expected sales operating expenses increased $0.5 million or 4% to $14.7 million. The increase in net operating expenses was primarily driven by selling, general and administrative expenses as well as salaries and related costs, which increased by $0.9 million and $0.2 million respectively.

毛利率下降的主要原因是先進能源部門產品結構的變化，以及客戶結構變化導致的平均售價降低、製造庫存的材料和入境運輸成本增加以及庫存額外儲備由於銷售低於預期，運營費用增加了50萬美元，即4%，達1,470 萬美元。淨營運費用的增加主要是由銷售、一般和管理費用以及工資和相關成本推動，分別增加了 90 萬美元和 20 萬美元。

These increases were offset partially by professional services expenses, which decreased by $0.6 million. Loss from operations for the fourth quarter of 2023 decreased $0.2 million or 3% to $5.8 million. Total other expense net it was $3.8 million compared to income of $19,000 in the fourth quarter of 2023. The change was driven by $3.1 million in expenses recognized in the fourth quarter of 2023 related to the extinguishment of our prior credit agreements, along with increased net interest expense related to our outstanding debt obligations we had no outstanding borrowings in the prior year period.

這些增長被專業服務費用減少了 60 萬美元部分抵消。2023 年第四季營運虧損減少 20 萬美元，或 3%，至 580 萬美元。其他費用淨額總額為 380 萬美元，而 2023 年第四季的收入為 19,000 美元。這項變更是由於2023 年第四季確認的與我們先前信貸協議的終止相關的310 萬美元費用，以及與我們的未償債務義務相關的淨利息費用的增加，我們在上一年期間沒有未償還的借款。

Income tax expense decreased $0.1 million or 42% to $0.1 million in the fourth quarter of 2023. Net loss attributable to stockholders increased $3.6 million or 59% to $9.6 million, or $0.28 per share in the fourth quarter of 2023 compared to $6 million or $0.17 per share in the fourth quarter of 2022. Adjusted EBITDA loss increased $0.6 million or 14% to $4.7 million compared to $4.1 million in the prior year period. As a reminder, we provide a detailed reconciliation from net loss attributable to stockholders to non-GAAP adjusted EBITDA loss in our earnings press release for the three months ended December 31, 2023, cash used from operating activities was $2.2 million compared to $4.5 million in the prior year period. The decrease was driven primarily by improvements in our working capital as of December 31, 2023, we had cash and cash equivalents of approximately $44 million compared to $10.2 million as of December 31st, 2022.

2023 年第四季所得稅費用減少 10 萬美元，或 42%，至 10 萬美元。2023 年第四季股東應佔淨虧損增加 360 萬美元，即 59%，達到 960 萬美元，即每股 0.28 美元，而 2022 年第四季為 600 萬美元，即每股 0.17 美元。調整後 EBITDA 虧損增加 60 萬美元，或 14%，達到 470 萬美元，去年同期為 410 萬美元。謹此提醒，我們在截至2023 年12 月31 日的三個月收益新聞稿中提供了股東淨虧損與非GAAP 調整後EBITDA 虧損的詳細調節表，經營活動使用的現金為220 萬美元，而2023年12 月31 日的現金為450 萬美元。上一年期間。這項減少主要是由於截至 2023 年 12 月 31 日我們的營運資金有所改善，我們的現金和現金等價物約為 4,400 萬美元，而截至 2022 年 12 月 31 日為 1,020 萬美元。

Turning to a review of our 2024 financial guidance, which we introduced in our earnings press release today for the 12 months ending December 31, 2024, we expect total revenue in the range of $49.7 million to $52.9 million, representing a decrease of approximately 5% to growth of approximately 1%. Our total revenue guidance range assumes Advanced Energy revenue of $41.6 million to $44.6 million, representing a decrease of approximately 4% to growth of approximately 3% and OEM revenue of approximately $8.1 million to $8.3 million, representing a decrease of 10% to 7%.

回顧我們今天在收益新聞稿中介紹的 2024 年財務指引，截至 2024 年 12 月 31 日的 12 個月，我們預計總收入在 4,970 萬美元至 5,290 萬美元之間，下降約 5%增長約1% 。我們的總收入指引範圍假設 Advanced Energy 收入為 4,160 萬美元至 4,460 萬美元，下降約 4%，增長約 3%；OEM 收入約 810 萬美元至 830 萬美元，下降 10% 至 7%。

In terms of our profitability guidance for fiscal year 2024 we expect a net loss attributable to stockholders of approximately $26.5 million to $24.3 million compared to $18.7 million in 2023 the low end of our formal financial guidance for net loss attributed to stockholders assumes the following for modeling purposes. First, gross margins of approximately 61% this year compared to 64.5% last year.

就我們2024 財年的獲利指引而言，我們預期股東應佔淨虧損約為2,650 萬至2,430 萬美元，而2023 年為1,870 萬美元。我們對股東淨虧損的正式財務指引的下限假設如下進行建模目的。首先，今年毛利率約為61%，而去年為64.5%。

The year over year decrease in gross margins is primarily driven by changes in revenue mix with roughly half attributed to changes in revenue mix within our OEM segment and the other half in travel, geographical geographic revenue mix in our Advanced Energy segment and the full year impact of incremental rent expense related to our sales leaseback for our Clearwater facility, which occurred in 2023.

毛利率的同比下降主要是由收入結構的變化所驅動的，其中大約一半歸因於我們的OEM 部門的收入結構的變化，另一半歸因於我們先進能源部門的旅行、地理地理收入結構的變化以及全年的影響與 2023 年發生的克利爾沃特設施銷售回租相關的增量租金費用。

Second, total operating expenses of approximately $52 million, down approximately 3% year over year. Third GAAP net interest expense of approximately $4.1 million compared to $1.6 million in 2023. And for the low end of our net loss guidance range also assumes income tax expense of approximately $2 million compared to income tax benefits of $2.4 million last year and a non-controlling interest benefit of approximately $0.2 million.

其次，總營運費用約5,200萬美元，較去年同期下降約3%。第三次 GAAP 淨利息支出約 410 萬美元，而 2023 年為 160 萬美元。對於我們淨虧損指引範圍的下限，也假設所得稅費用約為 200 萬美元，而去年的所得稅優惠為 240 萬美元，非控制權益優惠約為 20 萬美元。

Lastly, at the low end of our net loss range. We expect cash used in operations in 2024 approximately $19 million compared to normalized cash used in operations of approximately $13 million in 2023. Excluding the one-time tax benefit year over year. Change in cash used in operations is driven by the change in net loss, offset by improvements in our working capital.

最後，處於我們淨虧損範圍的低端。我們預計 2024 年營運中使用的現金約為 1,900 萬美元，而 2023 年營運中使用的標準化現金約為 1,300 萬美元。不包括逐年一次性稅收優惠。營運中使用的現金變動是由淨虧損變化所驅動的，並被我們營運資本的改善所抵銷。

With that, I'll turn the call back to Charlie for closing remarks.

之後，我會將電話轉回給查理，讓其結束語。

Thanks, Matt. Our total revenue guidance for 2024 reflects a different near term growth profile as we navigate the continued challenges in the cosmetic surgery capital equipment environment, and we return to a more normalized ordering from our OEM customers.

謝謝，馬特。我們對 2024 年的總收入指引反映了不同的近期成長狀況，因為我們應對整容手術資本設備環境中的持續挑戰，並且我們恢復了 OEM 客戶更加標準化的訂購。

With respect to key assumptions of our Advanced Energy segment. While the environment remains challenging, we are pleased that customer utilization remains strong, and we expect growth in sales of our handpieces driven by demand from both existing customers and new users globally will help offset the impact of slower generator sales in 2024. Our full year Advanced Energy revenue range assumes that capital equipment adoption trends in the first half of 2024 remain similar to what we saw in the second half of 2023. We expect to see improving trends in the second half of this year. For avoidance of doubt, our first quarter is challenged by the impact of this dynamic, along with the seasonal purchasing patterns that we have experienced in prior years to that. And while we expect positive momentum in our generator pipeline over the balance of the first quarter. The low end of our full year Advanced Energy revenue range assumes approximately 40% decrease in the first quarter compared to the fourth quarter of 2023. Despite the continuation of this challenging market environment over the near term, we believe we are better positioned than we have ever been and the level of regulatory, clinical and customer support for our technology has never been higher.

關於我們先進能源部門的關鍵假設。儘管環境仍然充滿挑戰，但我們很高興客戶利用率仍然強勁，我們預計全球現有客戶和新用戶需求推動的手機銷售成長將有助於抵消 2024 年發電機銷售放緩的影響。我們的全年先進能源收入範圍假設 2024 年上半年資本設備採用趨勢與我們在 2023 年下半年看到的情況相似。我們預計今年下半年將出現改善趨勢。為避免疑義，我們的第一季受到這種動態以及我們前幾年經歷的季節性採購模式的影響的挑戰。儘管我們預計第一季剩餘時間我們的發電機管道將出現積極勢頭。我們全年先進能源收入範圍的低端假設第一季與 2023 年第四季相比下降約 40%。儘管這種充滿挑戰的市場環境在短期內持續存在，但我們相信我們的定位比以往任何時候都更好，並且對我們技術的監管、臨床和客戶支援水平從未如此高。

Moreover, we believe the longer longer-term outlook for our addressable market remains compelling according to the latest global survey report of the International Society of Aesthetic Plastic Surgery, liposuction procedures grew 21% year over year to an estimated $2.3 million in 2022 and continue to be the number one static surgical procedure globally. We believe the cosmetic surgery industry's focus on body contouring and customizable procedures that target specific fat deposits engaging in fat transfer and addressing skin laxity represents an important long-term tailwind for our business. As a reminder, we believe our Renuvion APR handpiece is the only technology with FDA five 10 K clearance for the coagulation of subcutaneous soft tissues following liposuction for aesthetic body contouring. And we believe social and cultural dynamics, including the role of social media, the increasing acceptance of minimally invasive cosmetic procedures across a broader portion of the population and the increasing adoption of GLP. one drugs for weight loss will play an important role in driving demand for technologies that demonstrate success and Kwikee rating and contracting soft tissues for aesthetic purposes.

此外，根據國際美容整形外科學會最新的全球調查報告，我們相信我們的目標市場的長期前景仍然引人注目，抽脂手術同比增長 21%，預計 2022 年達到 230 萬美元，並將繼續增長。成為全球第一的靜態外科手術。我們相信，整容手​​術行業對身體輪廓的關注和針對特定脂肪沉積的可定製程序，參與脂肪轉移和解決皮膚鬆弛問題，對我們的業務來說是一個重要的長期推動力。提醒一下，我們相信我們的 Renuvion APR 手機是唯一獲得 FDA 5 10 K 許可的技術，用於抽脂後皮下軟組織凝固，以達到美觀的身體輪廓。我們相信社會和文化動態，包括社交媒體的作用、更廣泛的人群對微創整容手術的日益接受以及 GLP 的日益採用。減肥藥將在推動對展示成功和 Kwikee 評級以及收縮軟組織以達到美容目的的技術的需求方面發揮重要作用。

As I mentioned earlier, the progress made by our team in 2023, enhanced our strategic and financial positioning with new clinical indications, new products, increased market awareness for Renuvion safety and efficacy, and improved balance sheet and financial conditions.

正如我之前提到的，我們團隊在2023 年取得的進展透過新的臨床適應症、新產品增強了我們的策略和財務定位，提高了市場對Renuvion 安全性和有效性的認識，並改善了資產負債表和財務狀況。

In 2024, we are focused on building on this progress by continuing to position Renuvion for future success by educating the market to drive awareness and adoption of Renuvion, leveraging and expanding our compelling portfolio of clinical evidence and supporting both our US customers and international distributors with $44 million in cash and equivalents at year end, we believe we have sufficient capital to execute our strategy and we continue to manage our resources effectively and invest strategically as we pursue our strategic initiatives as market conditions improve, we look forward to capitalizing on the multi-billion dollar addressable market opportunity as well as the favorable long-term tailwinds in our industry by helping surgeons and patients appreciate remove eOn's ability to achieve their desired outcomes. And importantly, we remain focused on delivering sustainable and profitable growth in the future.

到2024 年，我們的重點是在此基礎上再接再厲，透過教育市場來提高Renuvion 的認知度和採用率，利用和擴展我們令人信服的臨床證據組合，並為我們的美國客戶和國際分銷商提供支持，繼續為Renuvion 奠定未來的成功基礎。截至年底，我們擁有4400 萬美元的現金和等價物，我們相信我們有足夠的資本來執行我們的策略，隨著市場狀況的改善，我們將繼續有效地管理我們的資源並進行策略性投資，以實施我們的策略性舉措，我們期待著利用多方面的優勢- 透過幫助外科醫生和患者認識到eOn 實現其預期結果的能力，可帶來數十億美元的潛在市場機會以及我們行業的有利長期順風。重要的是，我們仍然專注於未來實現可持續和盈利的成長。

I'd like to conclude my remarks today by congratulating the entire Apyx Medical team for their accomplishments this past year, which were made possible through their hard work and dedication, thanks as well to our distributor partners, customers and shareholders for their support.

在今天的演講結束時，我想祝賀整個Apyx Medical 團隊在過去一年中所取得的成就，這些成就是透過他們的辛勤工作和奉獻精神取得的，同時也感謝我們的經銷商合作夥伴、客戶和股東的支持。

With that, operator, let's now open the call for questions.

接線員，現在讓我們開始提問。

Thank you. And if you'd like to ask a question, please signal by pressing star one on your telephone. If you're using a speakerphone, please make sure your mute function is turned off to allow your signal to reach our equipment. We do ask that you limit yourself to one question and one follow-up. If you would like to me ask additional questions. We invite you to add yourself to the queue again by pressing star one.

謝謝。如果您想提問，請按電話上的星號一號。如果您使用免持電話，請確保您的靜音功能已關閉，以便您的訊號到達我們的裝置。我們確實要求您將自己限制在一個問題和一個後續行動上。如果您想向我詢問其他問題。我們邀請您按一號星再次將自己加入隊列。

Our first question comes from the line of Frank Tachyon with Lake Street Capital Markets. Please proceed with your question.

我們的第一個問題來自 Lake Street Capital Markets 的 Frank Tachyon。請繼續你的問題。

Great.

偉大的。

Thanks for taking the questions.

感謝您提出問題。

I was hoping to start by asking a little bit more about the guide.

我希望首先詢問更多有關該指南的資訊。

You gave us a lot of different pieces to kind of model up the sequential cadence of revenue.

你給了我們很多不同的部分來模擬收入的連續節奏。

I think the implied number for Q1 is in the high eight millions range to get to that 40% down quarter over quarter of that backs us into a pretty good sequential ramp ramp throughout the year.

我認為第一季的隱含數字在 800 萬左右，季度環比下降 40%，這支持我們全年實現相當不錯的連續成長。

So maybe talk about how you envision this playing out. Are you starting to see some of the capital equipment overhang lift and you expect that to accelerate to the back end of the year, the funnel indicating that this should allow you to accelerate into the back end of the year? Just maybe give us a little bit more color on the assumptions around how you ramp through 2024?

所以也許可以談談你對這件事的設想如何。您是否開始看到一些資本設備過剩的提升，並且您預計這會加速到今年年底，漏斗表明這應該會讓您加速到今年年底？或許能給我們更多關於您如何度過 2024 年的假設？

Yes. Thanks, Frank. Appreciate the question on.

是的。謝謝，弗蘭克。感謝這個問題。

We believe that the capital equipment purchasing environment continues to be challenging. And really we have not seen any evidence of sustained improvement so far in Q1.

我們認為資本設備採購環境仍充滿挑戰。事實上，到目前為止，我們還沒有看到任何第一季持續改善的證據。

Okay. And in the interest of transparency, we said at the low end of our full year revenue guidance contemplated a roughly 40% decrease in Advanced Energy in Q1 versus Q4 of 23. And we always see that seasonal quarter-over-quarter decline from Q4 to Q1, it's typically about 30%. But because of the capital equipment environment, we've brought it down to 40%. And our expectations for Q1 also reflect continued headwinds in this capital opportunity purchasing environment that we have there.

好的。出於透明度考慮，我們表示，在全年收入指引的低端，預計先進能源公司第一季的營收將比第四季的 23% 下降約 40%。我們總是看到從第四季到第一季的季節性環比下降，通常約為 30%。但由於資本設備環境的原因，我們已將其降低至 40%。我們對第一季的預期也反映了我們所處的資本機會購買環境中持續存在的阻力。

And as we look out the year, we would I've see that back half getting a little bit better, but we still see headwinds over the year.

當我們展望這一年時，我們會看到後半段情況會有所好轉，但今年我們仍然看到逆風。

We're not forecasting a change or when that's going to really change in the back half. We still believe that our consumer, our handpiece business is strong and that will continue to be strong throughout the year, but from a capital purchasing environment where and we're not forecasting a huge turnaround this year.

我們並沒有預測會發生什麼變化，或是什麼時候會在後半段真正改變。我們仍然相信我們的消費者、我們的手機業務強勁，並將在全年繼續強勁，但從資本購買環境來看，我們預計今年不會出現巨大轉變。

Okay.

好的。

That's helpful color.

這是有用的顏色。

And then maybe for my second one, just an update on the GLP-1 dynamic, and I've talked about it in many of the previous calls and how it's a longer-term tailwind. Is there any chance that it's potentially cutting a little bit of an air pocket right now as those who are on GLP ones work through the treatment regimen and then they may become a candidate for skin tightening six to 12 months after starting the treatment?

然後也許是我的第二個，只是 GLP-1 動態的更新，我在之前的許多電話會議中都談到過它，以及它如何成為長期的推動力。當接受 GLP 治療的患者完成治療方案後，他們可能會在開始治療 6 至 12 個月後成為緊膚手術的候選者，是否有可能現在就減少一點氣穴？

Or is the overhang you're seeing strictly related to the capital equipment market?

或您所看到的過剩與資本設備市場密切相關？

Yes. So a few, if you remember, if you look at what we did in Q4 from a procedure perspective was exactly what we thought.

是的。所以，如果你還記得的話，如果你從程序的角度來看我們在第四季所做的事情正是我們所想的。

And handpieces were up strong, especially in the US, but based on the feedback we've heard from surgeons. We continue to believe that this represents a very long, huge long-term tailwind. And first, if you remember from the GLP-1 drugs, most of those patients were not candidates for renewal beyond because of their BMIs before. And so this brings in a whole bunch of new candidates on into the funnel. And yes, they do need to lose the weight before they have body contouring, but we're actually starting to see now that these patients are even more inclined to have a static procedures than the traditional patients because they've been through this journey and there could be some type of lag in them because they have to lose the weight and have to do that. There's no question about it, but we think in 24, we will start to see a lot of these patients come through the door.

手機的成長強勁，尤其是在美國，但基於我們從外科醫生那裡聽到的回饋。我們仍然相信，這代表著一個非常長期、巨大的長期推動力。首先，如果您還記得 GLP-1 藥物，大多數患者由於先前的 BMI 而不是更新的候選者。因此，這將一大群新候選人帶入漏斗。是的，他們確實需要在進行身體塑形之前減肥，但我們現在實際上開始看到，這些患者比傳統患者更傾向於進行靜態手術，因為他們已經經歷過這個過程並且他們可能會有某種類型的滯後，因為他們必須減肥並且必須這樣做。毫無疑問，但我們認為在 24 年，我們將開始看到許多這樣的患者前來就診。

Okay.

好的。

That's helpful color cost up there.

這對顏色成本很有幫助。

Thanks for taking the questions.

感謝您提出問題。

Thank you. Our next question comes from the line of George Tong with Stephens, Inc., please proceed with your question.

謝謝。我們的下一個問題來自 Stephens, Inc. 的 George Tong，請繼續您的問題。

Hey, good morning and thanks for taking the question. Maybe to start with the gross margin piece. Could you just break out the drivers to that OEM. gross margin headwind, inflation or weaker pricing or some combination of those two? How should we think about this on a go-forward basis is a weaker OEM gross margin contribution, the new normal?

嘿，早上好，感謝您提出問題。也許要從毛利率開始。您能否將驅動程式分發給該 OEM？毛利率逆風、通膨或定價疲軟或這兩者的某種組合？我們該如何看待未來 OEM 毛利率貢獻減弱這一新常態？

Yes, that's a great question.

是的，這是一個很好的問題。

I'm going to give that over to Matt and have him walk you through the puts and takes of the of the gross margin.

我將把這個問題交給馬特，讓他帶你了解毛利率的看跌期權和賣出期權。

So let's talk about by the way, thanks for your question. Good question was we analyze the gross margin very carefully from a perspective of Q4, our gross margins in Q4 were down to 16.9%. A little more than half of that was related to inventory cleanup at year-end for some slow-moving inventory from with additional reserves. And the remainder was associated with primarily with a mix product mix in our A. segment, both product and customer mix and then the excuse me in the environment that we're in, we saw some additional material and shipping costs. Now as we look out into 2024, what we're looking at right now is our low end of the guidance assumes gross margins about 61% in '24.

那我們就順便聊聊吧，謝謝你的提問。好問題是我們從第四季的角度非常仔細地分析了毛利率，我們第四季的毛利率下降到了16.9%。其中一半多一點與年底清理庫存有關，這些庫存是透過額外的儲備來清理一些滯銷庫存。其餘的則主要與我們 A 部門的混合產品組合有關，包括產品和客戶組合，然後對不起，在我們所處的環境中，我們看到了一些額外的材料和運輸成本。現在，當我們展望 2024 年時，我們現在關注的是我們的指導下限，假設 24 年毛利率約為 61%。

Okay. And year over year margin largely reflects the headwinds headwinds related to our anticipated revenue mix so most of that is going the revenue mix within our OEM and the other half is going to be a full year impact of rent expense associated with that sale leaseback that we did in 2023, and it will be some geographic revenue mix in our Advanced Energy segment. Okay.

好的。同比利潤率在很大程度上反映了與我們預期收入組合相關的不利因素，因此其中大部分將用於我們的OEM 內的收入組合，另一半將是與我們的銷售回租相關的租金費用的全年影響2023 年，這將是我們先進能源領域的一些地理收入組合。好的。

That's really helpful.

這真的很有幫助。

Thank you for that that color switching gears a little bit to the advanced energy piece. I'm just curious, could you remind us where you are in converting existing customers to the APEX one and then win that discounted program?

感謝您為高級能量片提供了一點顏色切換齒輪。我只是很好奇，您能否提醒我們，您在將現有客戶轉化為 APEX 客戶並贏得該折扣計劃方面處於什麼階段？

we'll end, we are we are pleased with the progress that we've made this past year in upgrading existing users from our recently launched micro handpiece represents another benefit to adopting Apex one and four practices, though that are focused on those procedures. And we still see significant room to expand adoption across our existing user base in 2024. That said, our guidance still implies that our generator sales will be slower due to the challenging environment because obviously those doctors have to have a capital purchase also. And remember, it's only going to be the doctors that want to use the micro handpiece. That will be the ones that will be adopting first, the ones that are doing a lot of body work on data and not going to use the micro right away, they wouldn't need to adopt right away. So we still see these these trends as being a little bit slower in this and 2024 also.

我們將結束，我們對過去一年在從最近推出的微型手機升級現有用戶方面取得的進展感到高興，這是採用 Apex 1 和 4 實踐的另一個好處，儘管重點是這些程序。我們認為，到 2024 年，我們現有用戶群的採用仍有很大的空間。也就是說，我們的指導仍然意味著，由於充滿挑戰的環境，我們的發電機銷售將會放緩，因為顯然這些醫生也必須進行資本購買。請記住，只有醫生想要使用微型手機。這將是那些首先採用的，那些在數據上做大量工作但不會立即使用微型計算機的人，他們不需要立即採用。因此，我們仍然認為這些趨勢在 2024 年和 2024 年都會放緩一些。

Okay. Okay. Got it. And then as you think about the rest of 2024 and into 2025 as well is micro head piece and the other new technologies that you'll have in the pipeline, are those sort of the key drivers to getting existing customers and then also new customers to adopt the APEX one or is the improved technology of the APEX one driving that new user adoption as well?

好的。好的。知道了。然後，當您考慮 2024 年剩餘時間和 2025 年以及即將推出的微型頭件和其他新技術時，這些都是吸引現有客戶以及新客戶的關鍵驅動因素採用APEX 1 還是APEX 1 的改進技術也推動了新用戶的採用？

Yes, new user adoption will be primarily Apex ones for new users, but the growth in our handpieces as a whole is going to be a driver for us in '24 and '25 and beyond. Remember, there's $2.3 million liposuction procedures that are done on a worldwide basis every single year. And we've got a long ways to go to make Renuvion the standard of care for liposuction. So the handpieces, whether they're micro, whether they're for the body, whether they're for everything else. And that still remains a huge driver of our business as we move forward from '24 and for many years to come.

是的，新用戶的採用將主要是 Apex 新用戶，但我們手機的整體成長將成為我們 24 年、25 年及以後的驅動力。請記住，全世界每年都會進行價值 230 萬美元的抽脂手術。要讓 Renuvion 成為抽脂手術護理標準，我們還有很長的路要走。所以手機，無論它們是微型的，無論是用於身體的，還是用於其他一切的。從 24 世紀開始以及未來許多年，這仍然是我們業務的巨大推動力。

Okay, great. I'll leave it there and thanks again for taking the questions.

好的，太好了。我將其留在那裡，再次感謝您提出問題。

Thank you.

謝謝。

Matt Hewitt with Craig-Hallum Capital Group.

克雷格-哈勒姆資本集團的馬特·休伊特。

Good morning. Thank you for taking the questions. Maybe just a follow-up on your last response there, Charlie, given the tough macro environment, particularly with the higher interest rates, is there anything that you could do from a pricing perspective that would drive generator sales over the near term? Obviously you're seeing the utilization grow, but getting those generators into the practice sands, I think is the key here. And I'm just wondering if there's something you could do from a pricing perspective and to encourage and kind of motivate the purchase and get those boxes in place?

早安.感謝您提出問題。查理，考慮到嚴峻的宏觀環境，特別是利率上升，也許只是您上次回應的後續行動，從定價角度來看，您能做些什麼來推動短期內發電機的銷售嗎？顯然，您會看到利用率的成長，但我認為將這些發電機投入練習是關鍵。我只是想知道您是否可以從定價角度做一些事情來鼓勵和激勵購買並將這些盒子安裝到位？

Yes. Look, I we've obviously talked about programs that we've had to buy down the interest rates for leases and things like that. And we're constantly evaluating what we're doing from a capital perspective in order to make it as easy as possible for new adoption of our generators. And obviously, it's something that we will continue to look at and monitor and drive. And it's obviously huge focus of the entire organization globally for new customer adoption in '24.

是的。聽著，我們顯然已經討論過我們必須降低租賃利率的計劃以及類似的事情。我們不斷從資本角度評估我們正在做的事情，以便盡可能輕鬆地採用我們的發電機。顯然，我們將繼續關注、監控和推動這一點。顯然，全球整個組織都非常關注 24 年新客戶的採用情況。

So it's always something that we're evaluating and always something that we're looking at.

因此，我們總是在評估和關注它。

I believe at least historically you have not factored in additional international clearances in to your forecast. Is that still the case? Are there still a few countries out there that you that you think or you're hopeful that you could garner approvals in that could be incremental to your guidance?

我相信至少從歷史上看，您的預測中沒有考慮到額外的國際許可。現在還是這樣嗎？您認為或希望在哪些國家/地區獲得批准，這可能會增加您的指導？

Yes. Our guidance just like always does not assume any material contributions from any new countries in 2024. As we've talked in the past, the two big ones that we're working on are Korea and China and I think they're the third and fifth largest cosmetic markets, depending on how you look at them or what things you look at. But obviously, until we get those, it doesn't make any sense to talk about them, quite frankly.

是的。我們的指導一如既往，不假設任何新國家在 2024 年做出任何實質貢獻。正如我們過去所說，我們正在研究的兩個大市場是韓國和中國，我認為它們是第三大和第五大化妝品市場，這取決於您如何看待它們或您關注什麼。但顯然，坦白說，在我們得到這些之前，談論它們沒有任何意義。

Got it.

知道了。

All right.

好的。

Thank you.

謝謝。

Thank you.

謝謝。

And Kim has a reminder if you'd like to join the question queue, please press star one on your telephone keypad.

Kim 提醒您，如果您想加入問題隊列，請按下電話鍵盤上的星號一。

Our next question comes from the line of Matt O'Brien with Piper Sandler. Please proceed with your question.

我們的下一個問題來自馬特·奧布萊恩和派珀·桑德勒的對話。請繼續你的問題。

And this is Samantha on for Matt. Thanks so much for taking our question. And you provided a bunch of color on the sales guidance for the year and we were just wondering and what does what is the higher end of that range expected, what would it take for you to oreach that.

這是薩曼莎為馬特代言的。非常感謝您提出我們的問題。您提供了有關今年銷售指導的大量信息，我們只是想知道預期範圍的高端是什麼，您需要什麼才能實現這一目標。

It does the delta between the high end and low end of our guidance basically assumes increased generator sales so it's just us being more successful with generator sales.

它在我們的指導的高端和低端之間實現了增量，基本上假設發電機銷量增加，因此我們在發電機銷售方面更加成功。

Okay, got it. Thank you. And then one more on the DTC initiatives. I know this has been a really big focus recently, how do you expect that to be a contributor throughout the year?

好，知道了。謝謝。然後再談一談 DTC 舉措。我知道這是最近的一大焦點，您預計它會如何成為全年的貢獻者？

Yes, I think that we will continue to drive awareness both from a consumer point of view and a customer point of view, physician point of view to the benefits of Renew beyond what they can do for their practice, not only in body traditional body contouring with liposuction, but also to help treat the patient population that is going to be coming through their doors that are on the GLP-1 drugs. And that will be something that you will see from a DTC. perspective as we start to talk and educate both groups.

是的，我認為我們將繼續從消費者的角度和客戶的角度以及醫生的角度提高人們對Renew 的好處的認識，這些好處超出了他們可以為他們的實踐做的事情，而不僅僅是在傳統的身體輪廓方面抽脂手術，同時也幫助治療即將接受 GLP-1 藥物治療的患者群體。您將從 DTC 中看到這一點。當我們開始談論和教育這兩個群體時。

as I think you I mean, you've mentioned previously that and you had patients come in and talking about Renuvion.

正如我所想的那樣，我的意思是，您之前提到過，您有病人進來談論 Renuvion。

Are you still seeing that specifically so far early this year?

今年年初到目前為止，您還看到這種情況嗎？

Yes.

是的。

So the great thing about awareness and a great thing about building on this is every day every week every year, awareness of the technology becomes more and more. And that word of mouth helps to spread not only from a patient perspective, but also from a physician perspective. And so that will be something that we'll keep building as we go throughout the years here for sure.

因此，意識的偉大之處以及在此基礎上繼續發展的偉大之處在於，每天、每週、每年，對科技的認識變得越來越多。這種口碑不僅有助於從患者的角度傳播，而且從醫生的角度也有助於傳播。因此，這肯定是我們多年來將繼續建造的東西。

Thank you.

謝謝。

Thank you.

謝謝。

Thank you. Our next question comes from the line of David Turkaly with G. Citizen's, JMP. Please proceed with your question.

謝謝。我們的下一個問題來自 David Turkaly 和 G. Citizen's、JMP。請繼續你的問題。

Hey, good morning, Tellium. Just one quick one then.

嘿，早安，泰利姆。那就快一點吧。

Given all the progress you made with the label or the sort of expansion you got there.

考慮到您在品牌方面取得的所有進展或您所取得的擴張。

I'm just curious what are the conversations like with the docs here domestically? Specifically, I know you mentioned the capital challenges we've talked about that, but does it resonate, let's say, vis a vis the competition with the surgeons. Are they aware of these labels? Are they aware that others don't have? And is it anything how often does that come up in conversation. Any sort of color you can give us in terms of the benefit from all that work you did?

我只是好奇與國內醫師的對話呢？具體來說，我知道您提到了我們討論過的資本挑戰，但它是否會引起共鳴，比如說，相對於與外科醫生的競爭。他們知道這些標籤嗎？他們知道其他人不知道嗎？這在談話中出現的頻率是多少？就您所做的所有工作所帶來的好處而言，您能給我們什麼顏色嗎？

Yes.

是的。

No, I it's it's a great question and I appreciate the question.

不，這是一個很好的問題，我很欣賞這個問題。

And yes, it does resonate with doctors, in fact, yes, the frustrating thing is our pipeline has probably never been stronger than it is right now. And it's not a function of doctors saying no or saying they don't want it or they don't or they want us to go away. It's just come back and see me in a little bit. They're just unsure of what the environment is going to be. And it's and they're unsure to make capital purchases in this time. And we're seeing it not just here it's been seen throughout the industry right now. And you know, that's that's really the thing.

是的，它確實引起了醫生的共鳴，事實上，是的，令人沮喪的是我們的管道可能從未像現在這樣強大。這並不是醫生說不、或他們不想要、或他們不希望我們離開的結果。它只是一會兒回來見我而已。他們只是不確定環境會變成怎樣。他們不確定這次是否會進行資本購買。我們不僅在這裡看到了這種情況，現在整個行業都看到了這種情況。你知道，這就是真正的事情。

But yes, it does resonate with doctors and yes, they are appreciative of that and not only is it just the clearances that we've got, but we now have over 92 clinical papers that talk about the safe and effective use of our technology. And I don't know of anybody else in what we're doing, that's got even close to that body of evidence. And so all of that stuff that evidence-based medicine definitely resonates with plastic surgeons for sure.

但是，是的，它確實引起了醫生的共鳴，是的，他們對此表示讚賞，這不僅是我們獲得的許可，而且我們現在有超過 92 篇臨床論文談論我們技術的安全和有效使用。我不知道還有誰在我們正在做的事情中，有更接近的證據。因此，實證醫學的所有內容肯定會引起整形外科醫生的共鳴。

Thank you.

謝謝。

Thank you. We're currently showing no remaining questions at this time. That does conclude our conference for today. Thank you for your participation.

謝謝。目前，我們沒有顯示任何剩餘問題。我們今天的會議到此結束。感謝您的參與。