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Apyx MEDICAL Energy Elevating Lives EXHIBIT 99.1 Apyx Medical Corporation Reports First Quarter 2021 Financial Results and Updates Full Year 2021 Outlook Advanced Energy Sales increased 92 % year - over - year in Q1 CLEARWATER , FL - MAY 12 , 2021 - Apyx Medical Corporation ( NASDAQ : APYX ) ( the " Company " ) , a maker of medical devices and supplies and the developer of Helium Plasma Technology , marketed and sold as Renuvion® in the cosmetic surgery market and J - PlasmaⓇ in the hospital surgical market , today reported financial results for its first quarter ended March 31 , 2021 , and updated financial expectations for the full year ending December 31 , 2021 . First Quarter 2021 Financial Summary : • • • • Total revenue of $ 8.6 million , up 72.9 % year - over - year . о Advanced Energy revenue of $ 7.7 million , up 92.2 % year - over - year . OEM revenue of $ 1.0 million , down 3.3 % year - over - year . Net loss of $ 4.9 million , compared to net loss of $ 2.0 million for the first quarter of 2020. Net loss in the first quarter of 2020 included an income tax benefit of $ 4.9 million . Adjusted EBITDA loss of $ 3.4 million , compared to adjusted EBITDA loss of $ 5.8 million for the first quarter of 2020 . As of March 31 , 2021 , the Company had cash and cash equivalents of $ 39.5 million , compared to $ 41.9 million as of December 31 , 2020. As of March 31 , 2021 , the Company had working capital of $ 53.3 million , including expected cash tax refunds of approximately $ 7.5 million the Company expects to receive during 2021 related to the net operating loss carrybacks resulting from the 2020 CARES Act . Management Comments : “ I would like to commend our team on their exceptional efforts during the quarter , which enabled us to achieve first quarter revenue results that exceeded our expectations , driven by strong global sales of our Advanced Energy products , " said Charlie Goodwin , President and Chief Executive Officer . “ In spite of the continued impacts of the COVID - 19 pandemic , we continued to see healthy utilization of our Helium Plasma Technology in the U.S. and key international markets , resulting in total handpiece growth in excess of 100 % year - over - year . We were also excited to see global generator sales increase by more than 80 % year - over - year , which was driven by strong demand in both the U.S. and our existing international markets . Importantly , we complemented our strong global sales performance in the first quarter with notable margin improvements , due in part to our efforts to reduce the per unit manufacturing costs of our Advanced Energy handpieces and managing our discretionary spending appropriately given the current operating environment . ' " Mr. Goodwin continued : " We are raising our full year 2021 financial guidance today to reflect the encouraging adoption and utilization trends that we have seen and confidence in our outlook for the balance of the year . With a strong balance sheet , a multi - billion dollar potential market opportunity and innovative technology supported by an expanding portfolio of evidence , Apyx Medical remains very well - positioned to deliver strong revenue growth and improving financial performance . We look forward to delivering exceptional performance as the world continues to recover from the effects of COVID , while continuing to lay the foundation for our future growth . "