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Zynex Inc (NASDAQ: ZYXI), founded in 1996, is a trailblazer in the medical technology sector. The company designs, manufactures, and markets non-invasive medical devices aimed at pain management, rehabilitation, and patient monitoring. Operating through its subsidiaries, Zynex Medical, Zynex Monitoring Solutions, and Zynex NeuroDiagnostics, the company has a diverse product portfolio and a strong commitment to improving the quality of life for its patients.
Zynex Medical leads the charge in developing electrotherapy devices for home use, aiding in the treatment of chronic and acute pain while also facilitating muscle activation and rehabilitation. Their product lineup includes the likes of NexWave, NeuroMove, InWave, and E-Wave, all of which are FDA/CE cleared and commercially available.
Zynex Monitoring Solutions focuses on cardiac monitoring devices used in hospital settings. Although still in development, these products aim to revolutionize patient care by providing advanced monitoring solutions that are non-invasive and highly effective.
Zynex NeuroDiagnostics specializes in the development of devices for electromyography (EMG) and electroencephalography (EEG) applications within neurology. These cutting-edge diagnostic tools are designed to assist healthcare professionals in diagnosing and treating neurological conditions.
The company has made significant strides in recent years. In 2024, Zynex was recognized as the 9th among the Top 25 Medical Device Companies by The Healthcare Technology Report. This recognition underscores the company's influence and innovation within the medical technology landscape.
In terms of financial performance, Zynex has shown robust growth. For the fiscal year 2023, the company reported net revenues of $184.3 million, reflecting a 17% increase from the previous year. This growth is attributed to a 43% increase in device orders, highlighting the expanding reach and effectiveness of Zynex's sales strategy.
In addition to financial success, Zynex has introduced new products aimed at diversifying its revenue streams. The Zynex Pro Hybrid LSO, a versatile 3-in-1 spinal orthosis, and the Zynex DynaComp Cold Compression, a device combining cold therapy and compression, are recent additions that have received positive market feedback.
Looking ahead, Zynex is poised for continued growth and innovation. The company anticipates a 23% increase in net revenue for 2024, driven by new product introductions and an expanding direct sales force. With a focus on non-invasive, holistic approaches to pain management and patient care, Zynex aims to set new standards in the medical technology industry.
Zynex reported strong financial results for Q3 2021, with revenue increasing 74% year-over-year to $34.8 million. The company achieved a record net income of $6.1 million, translating to a diluted EPS of $0.17. Adjusted EBITDA was reported at $9.3 million. Working capital grew by 13% to $59.6 million, with cash on hand reaching $35.4 million. The company anticipates Q4 revenue between $40.0 and $43.0 million and a full-year revenue estimate of $130.0 to $133.0 million, reflecting a growth of 62% to 66% compared to 2020.
Zynex, a medical technology company, will host a webcast for its 2021 third quarter earnings on November 2, 2021, at 2:15 PM MT (4:15 PM ET). The company specializes in non-invasive medical devices for pain management, stroke rehabilitation, and more. Interested participants can register for the webcast through the provided link. Founded in 1996, Zynex focuses on innovative solutions, including the NeuroMove device for stroke recovery. For more details, visit Zynex.com.
Zynex, Inc. (NASDAQ: ZYXI) announced a strong performance for Q3 2021, reporting a 70% year-over-year order growth and projecting Q3 revenue between $34.5 million and $36 million. The company has increased its Adjusted EBITDA estimate to $9 million to $10 million, up from a prior estimate of $5 million to $6 million. For the full year, Zynex estimates revenue between $130 million and $137.5 million, reflecting an increase of 62% to 72% compared to the previous year. This growth supports Zynex's strategy to provide non-opioid pain management solutions.
Zynex, Inc. (NASDAQ: ZYXI) announced participation in the American Society of Anesthesiologists Annual Conference from October 8-12, 2021, showcasing its CM-1500 Fluid Management Device. The event, held in San Diego, will highlight Zynex's advancements in non-invasive medical technology, specifically in fluid monitoring for hospitals and surgical centers. Founded in 1996, Zynex specializes in electrotherapy medical devices for pain management and rehabilitation. The press release includes a safe harbor statement regarding forward-looking statements and potential risks to the business.
Zynex reported a 61% year-over-year revenue increase for Q2 2021, totaling $31.0 million. Orders surged by 247%, with a net income of $2.8 million and diluted EPS of $0.08. Adjusted EBITDA reached $4.8 million. The company expects Q3 revenue between $34.5 million and $36.0 million, representing a 72% to 80% increase from Q3 2020. Full-year revenue guidance is lowered to $130.0 million to $137.5 million, still reflecting a 62% to 72% increase from 2020.
Zynex, Inc. (Nasdaq: ZYXI), a leader in non-invasive medical devices, announced its 2021 second quarter earnings investor webcast scheduled for July 29, 2021, at 2:15 p.m. MT (4:15 p.m. ET). The webcast will cover insights into their financial performance and product developments related to pain management and rehabilitation technologies. Participants can register via the provided link. Founded in 1996, Zynex specializes in manufacturing devices such as the NeuroMove, aimed at aiding stroke recovery.
Zynex, Inc. (NASDAQ: ZYXI) reported a remarkable 247% growth in orders year-over-year for Q2 2021, with a 186% increase for the first half of the year. The company confirmed its revenue estimate for Q2 2021 between $31.0 million and $32.5 million, while Adjusted EBITDA is projected to rise to between $4.2 million and $5.2 million, up from prior estimates. For the full year, revenue is expected to be between $135.0 million and $150.0 million, marking a 68% to 87% increase from last year's $80.1 million.
Zynex (NASDAQ: ZYXI) announced its uplisting to the Nasdaq Global Select Market, effective July 14, 2021. This achievement highlights Zynex's strong growth and financial performance, meeting stringent financial, liquidity, and governance criteria. CEO Thomas Sandgaard emphasized the importance of this milestone for enhancing shareholder value. The company specializes in non-invasive medical devices for pain management, stroke rehabilitation, and cardiac monitoring. Zynex's proprietary products include electrotherapy devices and blood volume monitors.
Zynex (NASDAQ: ZYXI), a leader in non-invasive medical devices, announced that its CFO, Dan Moorhead, will present virtually at the Ladenburg Thalmann Annual Healthcare Conference on July 13, 2021. The presentation is scheduled from 12:00 PM to 12:25 PM ET, and Moorhead will also engage in one-on-one meetings with investors. Zynex specializes in devices for pain management, stroke rehabilitation, and cardiac monitoring. Further details can be found on the company's website.
Zynex reported a strong Q1 2021 with a 58% increase in revenue to $24.1 million year-over-year. Orders surged by 140%, yet the company faced a net loss of $0.7 million, marking a GAAP loss per share of $0.02. Gross margins were robust at 76%. The CEO anticipates a profitability ramp-up in Q2 with projected Adjusted EBITDA of over $3 million. Guidance for Q2 revenue is estimated between $31 million and $32.5 million, while full-year revenue is expected between $135 million and $150 million.
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