Apyx Medical makes surgical energy devices for cosmetic surgeons, with its primary product being Renuvion, a proprietary helium plasma technology that delivers controlled heat to tighten loose or lax skin. Renuvion is the only FDA-cleared device for treating loose skin following liposuction, and it can also be used as a standalone skin-tightening treatment. In 2025, Apyx launched AYON, an all-in-one body contouring system that integrates Renuvion's tissue contraction capabilities with liposuction, fat transfer, and other modalities in a single platform. Apyx sells directly to plastic and cosmetic surgeons in the U.S. and through distributors internationally, including a recent expansion into China. The Surgical Aesthetics segment accounts for roughly 86% of revenue and includes both capital equipment sales (generators, AYON systems) and recurring single-use handpieces, which comprise over 60% of U.S. Surgical Aesthetics revenue. The remaining ~14% of revenue comes from an OEM segment, where Apyx manufactures electrosurgical devices for third parties, though management is actively de-emphasizing this business. Apyx's growth strategy leans on two themes: the GLP-1 tailwind, as patients experiencing rapid weight loss from drugs like Ozempic are left with skin laxity that Apyx argues requires surgical intervention, and AYON's ability to expand Apyx's addressable market into the broader liposuction space by displacing multiple competing devices with a single platform.