Welcome to our dedicated page for ZYNEX news (Ticker: ZYXI), a resource for investors and traders seeking the latest updates and insights on ZYNEX stock.
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, Inc. (NASDAQ: ZYXI) has announced its relocation to a new corporate headquarters in Englewood, Colorado, expanding its space from 86,000 square feet to 110,754 square feet. The new lease, effective May 3, 2021, spans 84 months and includes an option for an additional 56,158 square feet. CEO Thomas Sandgaard highlighted competitive lease rates and significant rent credits that enhance the company's financial position. This move aligns with Zynex's growth in manufacturing and sales of non-invasive medical devices for pain management and rehabilitation.
Zynex, Inc. (NASDAQ: ZYXI) has initiated a $10.0 million share buyback program aimed at enhancing shareholder value. Announced on March 8, 2021, the program will commence immediately and conclude by September 8, 2021, or once the buyback limit is reached. Zynex's leadership, including President and CEO Thomas Sandgaard, expressed confidence in the company's growth prospects and stated that the current market valuation does not reflect its true value. The buybacks will be funded through existing cash and are expected to have no material impact on the company’s capital levels.
Zynex reported a remarkable 76% revenue increase for 2020, totaling $80.1 million. Fourth quarter revenue also surged by 81% to $25.6 million, with a net income of $1.8 million and adjusted EBITDA of $3.4 million. The company maintains a strong cash position with $39.2 million on hand. For 2021, Zynex projects revenue between $135 million and $150 million, indicating a potential growth of 68% to 87% compared to 2020. Despite anticipated challenges in Q1 due to seasonal factors, the company expects profitability to improve throughout the year.
Zynex, Inc. (Nasdaq: ZYXI), a leader in medical technology, announced an earnings webcast for Q4 and full-year 2020 on February 25, 2021, at 2:15 p.m. MT (4:15 p.m. ET). The webcast will cover their financial performance, although specific metrics were not disclosed in the PR. Stakeholders can register to attend the event online or via the provided dial-in numbers. Zynex specializes in non-invasive medical devices for pain management and rehabilitation.
Zynex, Inc. (NASDAQ: ZYXI) has promoted Anna Lucsok to Chief Operating Officer of Zynex Medical as of January 28, 2021, succeeding Joseph Papandrea. Lucsok, who previously served as Vice President of Reimbursement and Sales Operations, has extensive experience in healthcare operations and has significantly contributed to the company's sales and patient experience improvements. CEO Thomas Sandgaard expressed gratitude for Papandrea's contributions and optimism for Lucsok's leadership in driving growth and success in the company's operations.
Zynex, Inc. (NASDAQ: ZYXI) announced the filing for a provisional patent for a noninvasive sepsis monitor aimed at improving early detection of sepsis, a critical condition affecting over 1.7 million adults annually in the U.S. The monitor is designed to significantly enhance patient monitoring by providing advanced warnings of deteriorating health conditions due to sepsis. This innovation is expected to save lives and complement Zynex's existing CM-1500 Blood Volume Monitor, enhancing their product portfolio in medical technology.
Zynex, Inc. (NASDAQ: ZYXI) reported a remarkable 117% year-over-year growth in orders for Q4 2020, concluding the year with a 96% increase in orders despite the challenges posed by COVID-19. The company anticipates Q4 revenue between $25.5 million and $26.5 million, with an Adjusted EBITDA estimate of $3.1 million to $4.1 million. Zynex's full-year revenue is projected to be $80 million to $81 million, up 76% to 78% from last year. The company also increased its sales force to over 500 reps, aiming for approximately 600 by year-end 2021.
Zynex, Inc (NASDAQ: ZYXI) announced the acquisition of a second U.S. Utility patent for its Blood Volume Monitor Device, enhancing protection for its non-invasive technology. Inventor Thomas Sandgaard has assigned the patent to Zynex Monitoring Solutions. This innovation aims to address the critical need for managing patient blood volume in surgical contexts, particularly regarding internal bleeding in recovery and intensive care units. The FDA-cleared CM-1500 device is currently in full production.
Zynex, Inc. (NASDAQ: ZYXI) has been recognized as the 13th fastest-growing medical device company in North America by Deloitte's 2020 Technology Fast 500, with a remarkable revenue growth of 242% from 2016 to 2019. In 2019, Zynex reported revenues of $45.5 million and projects 2020 revenues between $80.0 million and $81.0 million. This accolade highlights Zynex's commitment to innovation in non-invasive medical devices, including pain management and stroke rehabilitation products.
FAQ
What is the current stock price of ZYNEX (ZYXI)?
What is the market cap of ZYNEX (ZYXI)?
What does Zynex Inc specialize in?
What are the key products offered by Zynex Medical?
Is Zynex a publicly traded company?
What recent achievements has Zynex Inc made?
What are Zynex's future growth plans?
What subsidiaries does Zynex operate through?
What financial performance did Zynex report for 2023?
Are Zynex's products FDA approved?
What new products has Zynex recently introduced?
Where can I find more information about Zynex Inc?
