Apyx Medical Corp (APYX) 2024 Q2 法說會逐字稿

Hello, and welcome, ladies and gentlemen, to the second quarter of fiscal year 2024 earnings conference call for Apyx Medical Corp. (Operator instructions) Please note that this conference call is being recorded and that the recording will be available on the company's website for replay shortly.

您好，女士們、先生們，歡迎參加Apyx Medical Corp. 2024 財年第二季度收益電話會議（操作員說明）請注意，本次電話會議正在錄音，錄音將在公司網站上提供，以供參考。

Before we begin, I would 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 identified in the Risk Factors section of our most recent annual report on Form 10-K, our most recent 10-Q filings and the company's 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預期結果存在重大差異指出的，包括但不限於我們最新的10-K 表格年度報告、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其他文件中風險因素部分確定的因素。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.

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。

We generally refer to those as non-GAAP financial measures. Reconciliations of those non-GAAP financial measures to the most comparable measures calculated and presented in accordance with GAAP are available in the earnings press release on the Investor Relations portion of our website.

我們通常稱之為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指標的調節表可在我們網站投資者關係部分的收益新聞稿中找到。

I would now like to turn the call over to Mr. Charlie Goodwin, Apyx Medical's President and Chief Executive Officer. Please go ahead, sir.

我現在想將電話轉給 Apyx Medical 總裁兼執行長 Charlie Goodwin 先生。請繼續，先生。

Thanks operator. And welcome everyone to our earnings call for the second quarter of 2024.

感謝運營商。歡迎大家參加我們 2024 年第二季的財報電話會議。

I'm joined on today's call by Matt Hill, our Chief Financial Officer. Let me provide you with a brief outline of today's call. I'll discuss our revenue performance in the second quarter and some of the highlights from our recent operational progress.

我們的財務長馬特希爾 (Matt Hill) 參加了今天的電話會議。讓我向大家簡要介紹一下今天的電話會議。我將討論我們第二季的營收表現以及我們最近營運進度的一些亮點。

Matt will review our Q2 financial results and full year guidance, which we updated in our earnings release today. I'll then share a few closing thoughts on our outlook and priorities for the balance of the year. Before we begin Q&A.

馬特將審查我們的第二季財務業績和全年指導，我們在今天的收益發布中更新了這些結果。然後，我將分享一些關於我們今年剩餘時間的前景和優先事項的總結想法。在我們開始問答之前。

Starting off with a review of our quarterly revenue results. In the second quarter, total revenue decreased 10% year-over-year to $12.1 million. By segment, sales of our advanced energy products decreased 17% year-over-year to $9.8 million, offset in part by OE -- by sales of our OEM products, which increased 29% year-over-year $2.4 million. We were pleased to see OEM sales that exceeded our expectations for the second quarter, driven primarily by stronger than expected sales to several customers.

首先回顧我們的季度收入結果。第二季總營收年減 10% 至 1,210 萬美元。按細分市場劃分，我們先進能源產品的銷售額年減 17%，至 980 萬美元，部分被 OE 所抵銷——我們的 OEM 產品銷售額年增 29%，達到 240 萬美元。我們很高興看到第二季 OEM 銷售超出了我們的預期，這主要是由於對幾個客戶的銷售強於預期。

Looking at the performance of our Advanced Energy segment in further detail, as we had anticipated and communicated in the expectation shared on our last earnings call. Our advanced energy performance in the second quarter continued to reflect the challenging environment in the cosmetic surgery market that we and other companies have experienced since the middle of last year.

正如我們在上次財報電話會議上所預期和傳達的那樣，進一步詳細了解我們先進能源部門的表現。我們第二季先進的能源表現繼續反映了我們和其他公司自去年年中以來經歷的整容手術市場充滿挑戰的環境。

Most notably, the market for capital equipment purchasing remained soft as prospective customers continued to delay purchase decisions given concerns about the broader macro economic environment. As expected, this continued to impact global generator sales throughout the second quarter, which drove the year-over-year decrease in Advanced Energy revenue.

最值得注意的是，由於對更廣泛的宏觀經濟環境的擔憂，潛在客戶繼續推遲購買決定，資本設備採購市場仍然疲軟。正如預期的那樣，這繼續影響整個第二季度的全球發電機銷售，從而導致 Advanced Energy 收入同比下降。

In spite of this challenging environment, we were pleased to drive strong growth in sales of our handpieces, fueled by demand from our global base of customers as well as new users. Handpiece sale to customers in both US and international markets increased by more than 20% year-over-year, helping to mitigate the impact of lower generator sales as anticipated.

儘管環境充滿挑戰，但在全球客戶群和新用戶需求的推動下，我們很高興能夠推動手機銷售的強勁成長。美國和國際市場客戶的手機銷量較去年同期成長超過 20%，有助於減輕預期發電機銷售下降的影響。

Our handpiece sales performance was largely consistent with our expectations for the quarter, and we expect continued growth in the second half of 2024 as well as I'll discuss later.

我們的手機銷售業績與我們對本季的預期基本一致，我們預計 2024 年下半年將繼續成長，我將在稍後討論。

In addition to driving sales performance, we remain equally focused on controlling cost to optimize our cash efficiency in this environment.

除了推動銷售業績外，我們仍然同樣注重控製成本，以在這種環境下優化我們的現金效率。

Turning to a discussion of our recent operational progress, our team has been working diligently to offset the challenging market environment by engaging with prospective surgeon customers to navigate the potential barriers to generator adoption.

談到我們最近的營運進展，我們的團隊一直在努力工作，透過與潛在的外科醫生客戶合作，克服發電機採用的潛在障礙，以應對充滿挑戰的市場環境。

Leveraging the extensive and growing portfolio of clinical evidence for Renuvion, which supports our technology is the best on the market, and executing our marketing strategy to raise awareness of our best-in-class technology and its benefits at both the surgeon and patient levels.

利用 Renuvion 廣泛且不斷增長的臨床證據組合，支持我們的技術是市場上最好的，並執行我們的行銷策略，以提高外科醫生和患者對我們一流技術及其益處的認識。

I'll now discuss our progress with respect to each of these three items in turn, beginning with our efforts to facilitate generator adoption. In this market, we've seen perspective surge and customers expressed concerns about the financing environment and high interest rates.

現在，我將依次討論我們在這三個項目方面取得的進展，首先是我們為促進發電機採用所做的努力。在這個市場上，我們看到前景激增，客戶對融資環境和高利率表示擔憂。

To address these concerns, our team is focused on educating surgeons on the purchasing options available through our third party partners and working with them to identify creative solutions to access our technology.

為了解決這些問題，我們的團隊致力於向外科醫生介紹透過我們的第三方合作夥伴提供的購買選項，並與他們合作找出創造性的解決方案來使用我們的技術。

As a reminder, in addition to traditional purchasing, we have third-party partners in place that are able to assist prospective customers in financing generator purchases through both subscription and leasing models.

提醒一下，除了傳統的採購之外，我們還有第三方合作夥伴，能夠幫助潛在客戶透過認購和租賃模式為發電機購買融資。

Beyond addressing these concerns, we continue to raise awareness about the compelling benefits of our best-in-class technology, leveraging our extensive portfolio of clinical evidence, by ionizing helium to create cold atmospheric plasma Renuvion enables surgeons to rapid -- rapidly heat soft tissue to the ideal temperature for contraction and cool it back down in fractions of a second.

除了解決這些問題之外，我們還繼續提高人們對我們一流技術的引人注目的優勢的認識，利用我們廣泛的臨床證據，透過電離氦氣產生冷大氣等離子體 Renuvion 使外科醫生能夠快速加熱軟組織達到收縮的理想溫度並在幾分之一秒內冷卻回來。

Because of this, we believe it is inherently safer, faster and more effective than alternative methods. Its strong safety and efficacy profile of our technology is supported by an extensive portfolio of more than 90 published clinical papers abstracts and posters, as well as three multisite IDE clinical studies.

正因為如此，我們相信它本質上比其他方法更安全、更快、更有效。我們技術的強大安全性和有效性得到了 90 多篇已發表的臨床論文摘要和海報以及三項多中心 IDE 臨床研究的廣泛支持。

Most recently, our retrospective continuous series study of 450 patients compared Renuvion to a commonly used bipolar RF technology. Its results were presented by its lead author, Dr. Michael Kluska at the AACS scientific meeting earlier this year, and was published yesterday in the peer-reviewed journal Plastic and Reconstructive Surgery global open.

最近，我們對 450 名患者進行了回顧性連續系列研究，將 Renuvion 與常用的雙極射頻技術進行了比較。其研究結果由其主要作者 Michael Kluska 博士在今年稍早的 AACS 科學會議上發表，並於昨天發表在同行評審期刊《整形與重建外科全球公開》上。

Dr. Kluska and his fellow researchers found that patients treated with Renuvion exhibited statistically significantly, fewer adverse events than those treated with bipolar-RF, including significantly fewer burns hematoma, hypertrophic scar and Sirona.

Kluska 博士和他的研究人員發現，與使用雙極射頻治療的患者相比，接受Renuvion 治療的患者表現出統計學上顯著更少的不良事件，包括顯著減少燒傷血腫、肥厚性疤痕和西羅娜(Sirona)。

They concluded that Renuvion may offer a safer alternative to bipolar-RF following liposuction or body contouring procedures. We believe these and other clinical studies demonstrate that we have the best in class technology on the market to coagulate and contract soft tissue, which addresses loose skin directly at the source.

他們得出的結論是，Renuvion 可以為抽脂或身體輪廓手術後的雙極射頻提供更安全的替代方案。我們相信這些和其他臨床研究表明，我們擁有市場上最好的凝固和收縮軟組織的技術，可以直接從源頭解決鬆弛的皮膚問題。

Our team drove awareness of our best in class technology during the second quarter by educating and training surgeons via multiple avenues. Throughout the quarter, we hosted five physician Mentor programs in key areas across the US, and participated in courses at the body contouring Academy, all of which enabled prospective surgeon customers to experience the use of Renuvion in live surgeries and learn from their peers in the industry.

我們的團隊在第二季度透過多種途徑對外科醫生進行教育和培訓，提高了人們對我們一流技術的認識。整個季度，我們在美國各地的關鍵地區舉辦了五個醫師導師計劃，並參加了身體輪廓學院的課程，所有這些都使潛在的外科醫生客戶能夠在現場手術中體驗 Renuvion 的使用，並向同行學習行業。

We participated in six industry conferences and trade shows as well, where Renuvion was featured in a total of 37 podium presentations, and we hosted a Renuvion users meeting in Las Vegas where 150 participants from 13 countries discuss techniques and approaches for applying our technology based on their clinical experiences and latest research, with 27 presentations over to two days. And lastly, in addition to the surgeon education activities, we continue and enhance our direct to consumer initiatives in order to raise awareness of Renuvion at the patient level as well.

我們還參加了6 場行業會議和貿易展覽，其中Renuvion 總共出現在37 場講台演講中，並且我們在拉斯維加斯主辦了一次Renuvion 用戶會議，來自13 個國家/地區的150 名與會者討論了基於以下內容應用我們技術的技術和方法：他們的臨床經驗和最新研究，在兩天內進行了 27 場演講。最後，除了外科醫生教育活動外，我們還繼續並加強直接面向消費者的舉措，以提高患者對 Renuvion 的認識。

After bringing on a new marketing leadership late last year, we've partnered with a leading communications firm to inform and support our DTC strategy. We've been pleased with our increased presence on social media in recent much months and responses we've seen in the form of strong sequential year-over-year growth in impressions, new followers and profile views.

去年年底任命了新的行銷領導層後，我們與一家領先的傳播公司合作，為我們的 DTC 策略提供資訊和支援。近幾個月來，我們在社群媒體上的曝光度有所增加，我們看到的反應是印像數、新追蹤者和個人資料瀏覽量逐年強勁增長，對此我們感到很高興。

As part of the broader evolution of our DTC initiatives. On June 26, we announced the renewing Lives campaign, a nationwide giveback program for every Renuvion procedure performed in the US. Apyx Medical will donate to a fund to fund Renuvion procedures for people who can most benefit from our technology, but they're not able to afford the treatment.

作為我們 DTC 計劃更廣泛發展的一部分。6 月 26 日，我們宣布了更新生命活動，這是一項針對在美國進行的每一次 Renuvion 手術的全國性回饋計畫。Apyx Medical 將向一個基金捐款，為那些最能從我們的技術中受益但無力負擔治療費用的人提供 Renuvion 手術資金。

In pursuing this giveback program, we aim to educate people about the positive impact of our body contouring technology can have on a patient's mental health and expand the perception of our treatment as we continue to raise awareness in the market. We intend to feature the stories and images from some of these patients who receive treatment under the renewing lives giveback program in our future marketing materials.

在推行這項回饋計畫的過程中，我們的目標是讓人們了解我們的身體輪廓技術對患者心理健康的正面影響，並隨著我們不斷提高市場意識而擴大對我們治療的認識。我們打算在未來的行銷資料中展示一些在生命更新回饋計畫下接受治療的患者的故事和圖像。

In summary, our team worked diligently during the second quarter to navigate the challenging environment in our industry. We engaged with prospective customers offering creative solutions to facilitate the adoption while educating the market on the unique benefits of our technology, supported our expanded portfolio of clinical publications and evolving DTC initiatives.

總而言之，我們的團隊在第二季度努力工作，以應對行業充滿挑戰的環境。我們與潛在客戶合作，提供創造性的解決方案以促進採用，同時讓市場了解我們技術的獨特優勢，支持我們擴大的臨床出版物組合和不斷發展的 DTC 計劃。

Through these efforts, we were pleased to partly offset the headwinds in our industry by driving global growth in our handpiece sales, which exceeded 20% year-over-year in addition to 29% growth of our OEM products. And we continue to manage our expenses, conserving capital as we execute our strategy to position Apyx Medical for strong growth and value creation as these near-term headwinds subside.

透過這些努力，我們很高興透過推動手機銷售的全球成長來部分抵消行業的不利因素，除了我們的 OEM 產品增長 29% 之外，我們的手機銷售同比增長超過 20%。隨著這些近期不利因素的消退，我們將繼續管理我們的開支，節省資本，同時執行我們的策略，使 Apyx Medical 實現強勁成長和價值創造。

With that, Hill, now review our second quarter financial results in more detail, along with our financial guidance for 2024, which we updated in today's release.

希爾現在更詳細地回顧我們第二季度的財務業績，以及我們在今天的新聞稿中更新的 2024 年財務指引。

Thanks Charlie. Since Charlie already covered our revenue results, I will begin at the gross profit line, all references to second quarter financial results will be on a GAAP and a year-over-year basis, unless noted otherwise.

謝謝查理。由於查理已經介紹了我們的收入業績，我將從毛利潤線開始，除非另有說明，所有對第二季度財務業績的引用都將基於公認會計準則和同比基礎。

Gross profit for the second quarter of 2024 decreased $1.8 million or 19% to $7.5 million. Gross profit margin was 61.7% compared to 68.4% in the prior period. The decrease in our gross margin was driven primarily by changes in the sales mix between our two segments, with our OEM segment comprising a higher percentage of total sales and geographic mix within our Advanced Energy segment, with international sales comprising a higher percentage total sales compared to the prior period.

2024 年第二季毛利減少 180 萬美元，降幅 19%，至 750 萬美元。毛利率為61.7%，去年同期為68.4%。我們毛利率的下降主要是由於我們兩個部門之間銷售組合的變化造成的，我們的OEM 部門在先進能源部門的總銷售額和地理組合中所佔的比例較高，國際銷售在總銷售額中所佔的比例較高至前期。

Operating expenses decreased $0.2 million or 1% to $13 million, reflecting our continued emphasis on controlling costs. The decrease in operating expenses was primarily driven by selling, general and administrative expenses and salaries and related costs which decreased $0.5 million and $0.2 million respectively.

營運費用減少 20 萬美元，即 1%，達到 1,300 萬美元，反映出我們對控製成本的持續重視。營運費用的減少主要是由於銷售、一般和管理費用以及工資和相關成本分別減少了 50 萬美元和 20 萬美元。

These decreases were partially offset by professional services expenses and research and development expense, which increased by $0.5 million and $0.1 million, respectively. Loss from operations increased $4.3 million or 349% to $5.5 million. It is important to note that the loss from operations in the second quarter of 2023 included a $2.7 million gain related to the sale leaseback transaction of our Clearwater property that was completed during the period.

這些減少被專業服務費用和研發費用分別增加 50 萬美元和 10 萬美元所部分抵銷。營運損失增加 430 萬美元，即 349%，達到 550 萬美元。值得注意的是，2023 年第二季的營運虧損包括與該期間完成的克利爾沃特房產售後回租交易相關的 270 萬美元收益。

Excluding that gain from our sale leaseback transaction in the second quarter of 2023, our loss from operations increased $1.6 million or 41%. Total other expense net was $1 million compared to income of $0.3 million in the second quarter of 2023.

不包括 2023 年第二季售後回租交易的收益，我們的營運虧損增加了 160 萬美元，即 41%。其他支出淨額總額為 100 萬美元，而 2023 年第二季的收入為 30 萬美元。

The change was driven primarily by increased net interest expense related to our outstanding debt obligations in the second quarter of 2024, as we had lower borrowings in the prior year period. In the second quarter of 2023, we also recorded the release of our joint and several payroll liability and a small insurance recovery that did not recur in 2024.

這項變更主要是由於 2024 年第二季與我們的未償債務相關的淨利息支出增加所致，因為我們上年同期的借款減少了。2023 年第二季度，我們也記錄了連帶工資負債的解除以及 2024 年未再次發生的小額保險追償。

Net loss attributable to stockholders was $6.6 million, or $0.19 per share compared to $1 million or $0.03 per share in the prior year period. Excluding the non-recurring gain related to the sale leaseback transaction in the second quarter of 2023, non-GAAP net loss attributable to stockholders increased $2.9 million or 78% yea-over-year.

股東應佔淨虧損為 660 萬美元，即每股 0.19 美元，去年同期為 100 萬美元，即每股 0.03 美元。剔除與 2023 年第二季售後回租交易相關的非經常性收益，股東應佔的非 GAAP 淨虧損增加 290 萬美元，較去年同期成長 78%。

Adjusted EBITDA loss increased $2.7 million or 166% to $4.3 million compared to $1.6 million in the second quarter of 2023. 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.

調整後 EBITDA 虧損增加 270 萬美元，或 166%，達到 430 萬美元，而 2023 年第二季為 160 萬美元。謹此提醒，我們在收益新聞稿中提供了股東淨虧損與非 GAAP 調整後 EBITDA 虧損的詳細調整表。

For the three months ended June 30, 2024, cash used from operating activities was $4.3 million compared to $4.9 million in the prior year period. The reduction in cash use was driven by improvements in our working capital. As of June 30, 2024, the company had cash and cash equivalents of $32.7 million compared to $43.7 million as of December 31, 2023.

截至 2024 年 6 月 30 日的三個月，經營活動使用的現金為 430 萬美元，去年同期為 490 萬美元。現金使用量的減少是由於我們營運資金的改善所致。截至2024年6月30日，該公司擁有現金及現金等價物為3,270萬美元，而截至2023年12月31日為4,370萬美元。

Turning to a review of our 2024 financial guidance, which we updated in our earnings press release today. For the 12 months ending December 31, 2024, we now expect, total revenue in the range of $50.6 million to $52.1 million, representing a decrease of approximately 3% to flat.

轉向我們對 2024 年財務指引的回顧，我們在今天的收益新聞稿中更新了該指引。截至 2024 年 12 月 31 日的 12 個月，我們目前預計總收入將在 5,060 萬美元至 5,210 萬美元之間，下降約 3% 至持平。

This compares to our prior range of $49.7 million to $52.9 million, representing a decrease of approximately 5% to growth of approximately 1%.

與我們之前的 4,970 萬美元至 5,290 萬美元區間相比，下降約 5%，成長約 1%。

Our total revenue guidance range assumes advanced energy revenue of $41.6 million to $43.1 million, representing a decrease of approximately 4% to 1%, which compares to our prior range of $41.6 million to $44.6 million, representing a decrease of approximately 4% to a growth of approximately 3%. And OEM revenue of approximately $9 million, representing a growth of 1%, which compares to our prior range of approximately $8.1 million to $8.3 million, down 10% to 7%.

我們的總收入指導範圍假設高級能源收入為 4,160 萬美元至 4,310 萬美元，下降約 4% 至 1%，而我們先前的指導範圍為 4,160 萬美元至 4,460 萬美元，下降約 4% 至增長約3 %。OEM 營收約為 900 萬美元，成長 1%，而我們先前的範圍約為 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 now expect net loss attributable to stockholders of approximately $24.5 million to $23.5 million compared to our prior expectation of approximately $26.5 million to $24.3 million. This updated net loss guidance reflects our revenue and loss results in the second quarter and revised expectation for the second half of 2024.

就我們 2024 財年的獲利指引而言，我們目前預期股東應佔淨虧損約為 2,450 萬美元至 2,350 萬美元，而我們先前的預期約為 2,650 萬美元至 2,430 萬美元。更新後的淨虧損指引反映了我們第二季的營收和虧損結果以及 2024 年下半年的修訂預期。

Specifically, the low end of our formal financial guidance for net loss attributable to stockholders now assumes the following for modeling purposes. First, gross margins of approximately 6% this year, compared to our prior expectation of approximately 61%.

具體而言，出於建模目的，我們對股東淨虧損的正式財務指導的下限現在假設如下。首先，今年的毛利率約為 6%，而我們先前的預期約為 61%。

Second, we now expect total operating expenses of approximately $50 million, a decrease of approximately 7% year-over-year compared to our prior expectation of approximately $52 million or a decrease of approximately 3% year-over-year.

其次，我們現在預計總營運費用約為 5,000 萬美元，年減約 7%，而我們先前的預期約為 5,200 萬美元，年減約 3%。

Third, we expect GAAP net interest expense of approximately $4.4 million versus our prior expectation of approximately $4.1 million.

第三，我們預期 GAAP 淨利息支出約為 440 萬美元，而我們先前的預期約為 410 萬美元。

And fourth, the low end of our net loss guidance range also assumes income tax expense of approximately $0.3 million compared to an income tax benefit of $2.4 million last year, and a non-controlling interest benefit of approximately $0.2 million.

第四，我們淨虧損指引範圍的下限也假設所得稅費用約為 30 萬美元，而去年的所得稅收益為 240 萬美元，非控制權益收益約為 20 萬美元。

Lastly, at the low end of our net loss guidance, which calls for a loss of $24.5 million. We now expect cash used in operations in 2024 of approximately $21 million. This is compared to the prior guidance which we assumed a $26.5 million and $19 million, respectively.

最後，我們淨虧損指引的下限，即虧損 2,450 萬美元。我們現在預計 2024 年營運中使用的現金約為 2,100 萬美元。與先前的指導值相比，我們分別假設為 2650 萬美元和 1900 萬美元。

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

至此，我將把電話轉回給查理，讓他發表結束語。

Thanks, Matt. Based on the trends observed in the first half of 2024. Our updated Advanced Energy revenue guidance assumes the challenging capital equipment environment in our industry will continue through the balance of the year, impacting sales of our generator systems.

謝謝，馬特。根據 2024 年上半年觀察到的趨勢。我們更新的先進能源收入指引假設我們行業中充滿挑戰的資本設備環境將在今年餘下時間持續下去，從而影響我們發電機系統的銷售。

As I mentioned earlier, we were pleased to drive strong handpiece sales during the second quarter with sales growth that exceeded 20% year-over-year, both in the US and internationally.

正如我之前提到的，我們很高興第二季手機銷售強勁，美國和國際銷售年增超過 20%。

We expect continued growth in handpiece sales over the second half of 2024, fueled by demand from both new and existing users of our technology. Specifically, our updated guidance range now assumes low double digit growth in global sales of our handpieces, which will help to significantly offset the impact of slower generator sales in 2024.

我們預計，在我們技術的新用戶和現有用戶需求的推動下，手機銷售將在 2024 年下半年持續成長。具體來說，我們更新後的指導範圍現在假設我們手機的全球銷售額成長兩位數，這將有助於顯著抵消 2024 年發電機銷售放緩的影響。

With respect to our OEM segment, we are raising our 2024 revenue guidance to reflect our strong sales in the second quarter. Our updated guidance range continues to assume nearly $4 million of OEM revenue in the second half of 2024, with more normalized customer ordering and order fulfillment.

對於我們的 OEM 部門，我們正在提高 2024 年收入指引，以反映我們第二季的強勁銷售。我們更新後的指導範圍繼續假設 2024 年下半年 OEM 收入接近 400 萬美元，客戶訂購和訂單履行更加標準化。

When thinking about our revenue on a quarterly basis in the second half of 2024. Remember that the fourth quarter tends to be the seasonally strongest quarter of the year in our Advanced Energy segment. The third quarter typically tends to be seasonally slower than the second and fourth quarters due to summer vacations during this period.

當考慮我們 2024 年下半年的季度收入時。請記住，第四季往往是我們先進能源領域一年中季節性最強的季度。由於暑假期間，第三季通常會比第二和第四季季節性放緩。

Looking ahead, our team remains focused on executing our growth strategy by continuing to raise awareness of Renuvion and educate surgeons and patients about the outcomes that can be achieved with our technology.

展望未來，我們的團隊將繼續專注於執行我們的成長策略，繼續提高對 Renuvion 的認識，並教育外科醫生和患者了解我們的技術可以實現的成果。

We have also conducted a strategic review of our business together with our new Chairman and evaluating ways to enhance our growth in order to further unlock value for our shareholders. In tandem, we continue to closely manage our expenses and control costs across the organization in order to optimize our cash efficiency while remaining poised for a return to strong sustained growth.

我們還與新任董事長一起對我們的業務進行了策略審查，並評估了促進我們成長的方法，以進一步為股東釋放價值。同時，我們繼續密切管理整個組織的開支並控製成本，以優化我們的現金效率，同時為恢復強勁的持續成長做好準備。

As the near term headwinds in our industry subside, we are well positioned to capitalize on multiple longer-term tailwinds, including the increasing social acceptance of aesthetic treatments, the rise of body contouring procedures and the adoption of GLP-1 drugs, whether it's results from rapid weight loss or the effects of natural aging process, loose skin remains a key issue that patients will seek to address in order to improve their appearance.

隨著我們行業的短期逆風消退，我們處於有利地位，可以利用多個長期利好，包括社會對美容治療的接受度不斷提高、塑身手術的興起以及 GLP-1 藥物的採用，無論結果如何由於體重快速減輕或自然老化過程的影響，皮膚鬆弛仍然是患者尋求解決以改善外觀的關鍵問題。

By coagulation and contracting soft tissue with cold atmospheric plasma. We believe Renuvion addresses the root cause of this issue safely quickly and effectively, and we are uniquely positioned to capitalize on this important clinical need going forward.

透過冷大氣等離子體凝固和收縮軟組織。我們相信 Renuvion 安全、快速、有效地解決了這個問題的根本原因，並且我們具有獨特的優勢，能夠在未來利用這一重要的臨床需求。

We will continue establishing Renuvion as an integral component following liposuction and body contouring surgical procedures as we continue to penetrate the multibillion-dollar global market opportunity that these procedures represent.

隨著我們繼續滲透這些手術所代表的數十億美元的全球市場機會，我們將繼續將 Renuvion 打造成抽脂和身體輪廓外科手術後不可或缺的組成部分。

I'd like to close by thanking my fellow colleagues and our distributor partners for their dedicated efforts in Q2 as well as our customers and shareholders for their support of Apyx Medical.

最後，我要感謝我的同事和我們的經銷商合作夥伴在第二季的奉獻努力，以及我們的客戶和股東對 Apyx Medical 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。

(Operator Instructions) Matt Hewitt, Craig-Hallum.

（操作員說明）Matt Hewitt，Craig-Hallum。

Good afternoon. Thanks for taking the questions and congratulations on the handpiece sales.

午安.感謝您提出問題並祝賀手機銷售。

And I guess I'd like to start off there. So you're still seeing strong growth with your hand piece. And obviously, some of that is just timed, the users are driving better adoption. But I'm curious as you look at the procedures where this is primarily being utilized it, can you attach a percentage of that to the GLP-1 or what do you think is that one or two primary drivers on the utilization side?

我想我想從這裡開始。因此，您的手機仍然會出現強勁的成長。顯然，其中一些只是適時的，用戶正在推動更好的採用。但我很好奇，當您查看主要利用它的程式時，您能否將其中的百分比附加到 GLP-1 上，或者您認為利用率方面的一兩個主要驅動因素是什麼？

Yeah. Hey, thanks for the question, Matt. And as we said in our prepared remarks, those we were very happy with our sales performance of our handpieces. And it was largely consistent with our expectations, in our budget that we had for the year. And we had global growth of over the 20% that we saw -- and we saw did see strong demand from our base.

是的。嘿，謝謝你的提問，馬特。正如我們在準備好的發言中所說，我們對手機的銷售表現非常滿意。這與我們今年的預算的預期基本一致。我們看到全球成長率超過 20%，而且我們確實看到了來自我們基地的強勁需求。

And yes, some of it is because some of the GLP-1 patients are starting to come in and need treatments for their loose skin. There's no question about that. And so we're happy with that performance. And we've as we mentioned, we plan on having double digit growth in handpieces for the entire year.

是的，部分原因是一些 GLP-1 患者開始就診，需要治療鬆弛的皮膚。毫無疑問。所以我們對這樣的表現感到滿意。正如我們所提到的，我們計劃全年手機銷量實現兩位數成長。

Well, that's great. And then maybe shifting gears a little bit on a new geography side, is there any opportunity for you to add a new geography or two yet this year? Or is that kind of been put on the back burner given the environment? Thank you.

嗯，那太好了。然後也許會在新的地理方面稍微改變一下，今年您是否有機會添加一兩個新的地理？或者考慮到環境，這種做法是否已被擱置？謝謝。

No worries. As we've mentioned before, the two markets that were not in our significant markets are South Korea and China, and we've got registrations into both of those countries. And so soon as we obviously get news on that would be something we would let you know.

不用擔心。正如我們之前提到的，韓國和中國不是我們重要市場中的兩個市場，我們已經在這兩個國家/地區進行了註冊。一旦我們明顯得到這方面的消息，我們就會讓您知道。

Got a current. Thank you.

有電流。謝謝。

Thank you.

謝謝。

(Operator Instructions) Frank Takkinen, Lake Street Capital.

（操作員說明）Frank Takkinen，Lake Street Capital。

Great. Thanks for taking the question. Also start with one on handpieces. I'm not sure if you parse it out as potentially intentional, but maybe can you talk about US versus international? I think that's a both were strong, but was one stronger than the other? And does that give you any insight into maybe capital equipment sales coming back if either of those geographies were stronger than the other?

偉大的。感謝您提出問題。也從手機上的一個開始。我不確定你是否將其視為潛在的故意​​，但也許你可以談談美國與國際？我認為兩者都很強，但其中一個比另一個更強嗎？如果這兩個地區中的任何一個地區比另一個地區更強，這是否能讓您了解資本設備銷售可能會回升？

Yeah. Look, both US and international were both up more than 20% year-over-year for handpieces. So they both had very nice performances. When you're talking about the capital environment, we still see that it is challenged and our guidance assumes that it will remain challenged throughout the rest of the year here in the US, that's basically how we see -- how we have it in our guidance.

是的。看，美國和國際手機的年增率均超過 20%。所以他們倆都有非常精彩的表演。當你談論資本環境時，我們仍然看到它面臨著挑戰​​，我們的指導假設在美國今年餘下的時間裡它仍將面臨挑戰，這基本上就是我們的看法——我們如何在我們的資本環境中遇到挑戰。

Okay. Fair enough. Then one more specifically on guidance and the comments about seasonality in Q3. Typically stepping down with that context in mind, it does imply a pretty good step up to Q4 also in line with regular seasonality. What's contemplated from a macro perspective in stepping back up into Q4? And what seems to be pretty solid year-over-year, double digit growth for Q4?

好的。很公平。然後是關於第三季季節性的指導和評論。通常考慮到這種情況，這確實意味著第四季度的一個相當好的進步，也符合常規季節性。進入第四季度，從宏觀角度考慮了什麼？第四季的兩位數年成長似乎相當穩健？

Yeah, you're correct. Our guidance does imply a stronger year-over-year growth in the second half of '24 compared to the first half of '24. As a reminder, we talked about that the challenging environment in the cosmetic surgery really began in the back half of '23. And with that in mind, our fiscal year '24 guidance has always assumed a stronger year-over-year growth in the second half versus the first half.

是的，你是對的。我們的指導確實意味著與 24 年上半年相比，24 年下半年的同比增長更為強勁。提醒一下，我們談到整容手術中充滿挑戰的環境真正開始於 23 年下半年。考慮到這一點，我們的 24 財年指引始終假設下半年的同比增長較上半年更為強勁。

Okay. Thanks for taking the questions.

好的。感謝您提出問題。

George cellars, Stephens.

喬治地窖，史蒂芬斯。

Hey, good afternoon and thanks for taking the question. Apologies if I've missed this in the prepared remarks, but I was just curious within system sales, how much of that was from new customers. How many systems are you placing with new customers versus practices that already have experience with renew beyond that or maybe upgrading to Apyx One?

嘿，下午好，感謝您提出問題。如果我在準備好的評論中錯過了這一點，我深表歉意，但我只是對系統銷售感到好奇，其中有多少來自新客戶。您向新客戶放置了多少系統，而不是已經擁有更新經驗或可能升級到 Apyx One 的實踐？

Yeah. No, that's a good question. We didn't break that actually out in their prepared remarks. So you didn't miss it at all. But I would say the vast majority of the quarter was new customers that are adopting the technology. We always have doctors that are expanding their practice and adding more things. But typically for us, the vast majority of sales of capital in any given quarter are two new customers.

是的。不，這是個好問題。我們並沒有在他們準備好的發言中真正闡明這一點。所以你根本就沒有錯過。但我想說，本季的絕大多數時間都是採用該技術的新客戶。我們總是有醫生在擴大他們的業務並增加更多的東西。但通常對我們來說，任何特定季度的絕大多數資本銷售都是兩個新客戶。

Okay. Got it. That's helpful. And then also on a similar vein, just curious with the customers who have upgraded Apyx One, what are the new customers who bought Apyx One, have you started seeing any acceleration in utilization with the micro handpiece or greater demand from a patient perspective with the micro handpiece? Is that a piece of what's driving the strong growth in handpieces.

好的。知道了。這很有幫助。同樣，我對升級 Apyx One 的客戶感到好奇，購買 Apyx One 的新客戶有哪些，您是否開始看到微型手機的使用加速或從患者角度來看更大的需求微型手機？這是推動手機強勁成長的因素嗎？

So the micro definitely is all of new micro sales or growth because there's no comparison for those in the past. So there's no question that that is a part of it. But remember, the Micro is just there for small areas of the body in the face, the hands, the knees, the labia areas like that.

因此，微觀肯定是所有新的微觀銷售或成長，因為與過去的那些沒有可比性。所以毫無疑問這是其中的一部分。但請記住，Micro 僅適用於臉部、手部、膝蓋、陰唇等身體的小區域。

The big driver of the growth for the handpieces is still on the body contouring handpieces that -- that's still the biggest driver that we see. But obviously, it's incremental growth anytime somebody picks up a micro handpiece.

手機成長的主要驅動力仍然是塑身手機，這仍然是我們看到的最大驅動力。但顯然，只要有人拿起微型手機，就會出現增量成長。

Okay, great. Thanks for that color. I'll leave it there.

好的，太好了。謝謝那個顏色。我會把它留在那裡。

Thank you.

謝謝。

We are currently showing no remaining questions at this time. That does conclude our conference for today. Thank you for your participation and have a wonderful rest of your day.

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，祝您有個愉快的一天。