ZYNEX INC - ZYXI STOCK NEWS

Zynex reported third-quarter 2020 results with revenue reaching $20.0 million, a 69% year-over-year increase. The company achieved a net income of $1.3 million with diluted EPS at $0.04. Orders surged 96% compared to the same quarter in 2019. Adjusted EBITDA was $2.4 million, with working capital increasing to $50.3 million. For the full year, Zynex estimates revenue between $80 million and $81 million, reflecting an increase of 76% to 78% over 2019. The company remains optimistic despite COVID-19 challenges, emphasizing growth strategies and sales force expansion.

Zynex, Inc. (NASDAQ: ZYXI) announced the appointment of Neil Friery as President and COO of its Monitoring Solutions Division. This division focuses on non-invasive medical devices, including the CM-1500 Blood Volume Monitor, which received FDA clearance earlier this year. Founder and CEO Thomas Sandgaard expressed confidence in Friery's leadership, anticipating advancements in early detection technology for internal bleeding. Friery brings experience from Zimmer Biomet, where he significantly increased revenue in the Surgical Division.

Zynex, a medical technology company, announced its 2020 third quarter earnings investor webcast scheduled for October 27, 2020, at 2:15 p.m. MT (4:15 p.m. ET). The company specializes in non-invasive medical devices for pain management and rehabilitation. Interested participants can register via their provided link or dial in. Zynex is also known for its proprietary NeuroMove device for stroke recovery and plans to develop a new blood volume monitor for hospitals. For further inquiries, contact details are provided.

Zynex, Inc. (NASDAQ: ZYXI) reported a 96% year-over-year order growth for Q3 2020, and 87% sequential growth. However, orders were below previous projections due to COVID-19 impacts. The revenue estimate for Q3 is now $20.0 to $20.5 million, down from $22.3 to $22.8 million. Full-year revenue is projected between $80 to $81 million, reflecting a 76% to 78% increase from last year. Adjusted EBITDA estimates have been revised down to $12.5 to $13.5 million due to increased hiring of sales reps, linked to the pandemic's effects on revenue.

Zynex, Inc. (NASDAQ: ZYXI) announced the lease of a new 50,488 square foot warehouse facility to accommodate its expanding manufacturing and inventory needs. The company reported an order growth of 84% in 2019 and 76% in the first half of 2020, despite COVID-19 challenges. The new facility, located close to headquarters, will enhance inventory capacity by three to five times and support growing operations. The lease lasts 65 months, commencing upon completion of tenant improvements or by January 15, 2021.

Zynex, Inc. (NASDAQ: ZYXI), a leader in non-invasive medical devices, announced it has reached 400 sales representatives in the U.S., surpassing its target of 400 ahead of the September 30 deadline. The company aims to increase this number to 500 by the end of 2020 and over 600 by the end of 2021. CEO Thomas Sandgaard highlighted the opportunity presented by increased unemployment due to COVID-19, improving rep productivity, and positioning the NexWave device as a non-opioid treatment option. Zynex focuses on advocating for pain management solutions to reduce addiction risks.

Zynex, a medical technology company, reported an 83% increase in aggregate orders for July and August 2020 compared to the previous year, surpassing the 37% growth in Q2 2020. The company’s full-year revenue estimate is $80 to $85 million, marking a 76% to 87% rise from 2019's $45.5 million. Zynex emphasizes the demand for its NexWave device as a non-opioid pain management solution, and continues expanding its sales force across the U.S. The estimated adjusted EBITDA for 2020 is $15 to $18 million.

Zynex, Inc. (NASDAQ: ZYXI) reported its second quarter financial results for 2020, showcasing a net revenue of $19.3 million, an impressive 87% increase from the previous year. The company's gross margins stood at 79%, with a net income of $3.0 million and an Adjusted EBITDA of $4.8 million. As of June 30, 2020, working capital rose to $23.8 million, with cash on hand at $16.9 million. The outlook for Q3 2020 predicts revenues between $22.3 million and $22.8 million, significantly higher than 2019 levels.

Zynex (Nasdaq: ZYXI) has announced it will host its second quarter earnings webcast on July 28, 2020, at 2:15 p.m. Mountain Time (4:15 p.m. Eastern Time). The company, known for its innovative medical devices in pain management and rehabilitation, invites interested parties to register for the event. Founded in 1996, Zynex focuses on developing non-invasive devices, including its proprietary NeuroMove for stroke recovery. The press release underscores the company's commitment to transparency and communication with investors.