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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, a medical technology company listed under Nasdaq: ZYXI, has announced it will report its first-quarter financial results for 2023 on April 27, 2023. The report will include insights into their non-invasive medical devices for pain management and rehabilitation. Management will discuss the results during a conference call and webcast scheduled for 2:15 PM MT / 4:15 PM ET. Interested participants can register via the provided link or dial in.
Founded in 1996, Zynex specializes in developing and selling medical devices used in hospitals and patient care. The company emphasizes its forward-looking statements regarding future conditions and the inherent uncertainties involved.
Zynex, Inc. (NASDAQ: ZYXI) reported preliminary results for Q1 2023, showcasing significant growth in the pain management division. Orders reached a record high, up 61% from Q1 2022. Revenue estimates for the quarter are projected between $39.0 million and $41.0 million, reflecting a 29% increase from the previous year. The company maintains its full-year guidance, forecasting revenue of $180 million to $200 million and earnings per share between $0.40 and $0.50. Seasonal trends in the healthcare industry affect Q1 revenues, aligning with historical patterns. CEO Thomas Sandgaard emphasized strong sales momentum and growth potential as the company expands its market presence.
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