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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, Inc. (NASDAQ: ZYXI) announced the rescheduled release date for its fourth quarter and full-year 2022 financial results, now set for March 13, 2023. The company specializes in non-invasive medical devices for pain management and rehabilitation. A conference call will occur at 6:30 a.m. MT / 8:30 a.m. ET to discuss these results and provide a corporate update. Zynex has a longstanding commitment to innovation in medical technology and is focused on delivering advanced solutions for patient care.
Zynex, Inc. (NASDAQ: ZYXI) announced the postponement of its fourth quarter and full year 2022 financial results and conference call originally scheduled for March 6, 2023. The company aims to allow more time for year-end closing procedures. The specific date for the rescheduled announcement will be provided in a future press release.
Zynex specializes in non-invasive medical devices for pain management, rehabilitation, and patient monitoring. Founded in 1996, the company continues to innovate in the medical technology sector.
Zynex, Inc. (NASDAQ: ZYXI) announced it will report its fourth quarter and full-year 2022 financial results on March 6, 2023. The event will include a conference call at 2:15 p.m. MT / 4:15 p.m. ET to discuss financial outcomes and provide a corporate update. Zynex specializes in non-invasive medical devices for pain management and rehabilitation. Investors may participate by registering through the provided links or dialing in. Key factors influencing Zynex's performance include their dependence on insurance reimbursements, product acceptance in the medical community, and competition from larger firms.
Zynex, Inc. (NASDAQ: ZYXI) announced the leasing of a new 41,000 square foot facility to support the growth of its Zynex Monitoring Solutions (ZMS) division. This expansion reflects a 94% increase in headcount over the past year, emphasizing the company's commitment to advancing its patient monitoring devices. The 66-month lease will commence on July 1, 2023, and the facility is conveniently located near Zynex's headquarters in Englewood, Colorado. Thomas Sandgaard, CEO, stated that the additional space is crucial for upcoming regulatory submissions and future business developments.
Zynex, Inc. (NASDAQ: ZYXI) announced its inclusion in the MSCI USA Small Cap Index, effective after market close on February 28, 2023. This inclusion is seen as a significant milestone, enhancing Zynex's visibility among investors. The MSCI USA Small Cap Index includes 1,935 constituents, representing approximately 14% of the U.S. equity market's free float-adjusted capitalization, and is widely utilized by investment managers for index funds and benchmarks. CEO Thomas Sandgaard expressed delight at the inclusion, highlighting the potential to raise awareness about Zynex’s mission to improve quality of life for patients with debilitating conditions.
Intrinsic LLC, a valuation and transaction advisory firm, announced it issued two fairness opinions for publicly traded clients in 2022. The firm provided an opinion to
Zynex, Inc. (NASDAQ: ZYXI) has announced a community blood donation drive to be held on February 1, 2023, at its Englewood, CO headquarters in partnership with Vitalant. This initiative aims to address the critical shortage of blood while providing a unique opportunity for research. Participants will be monitored using Zynex's CM-1600 system during the donation, contributing to an IRB-approved clinical trial assessing the system's efficacy in detecting blood loss. The CM-1600 is currently under FDA review, building upon the CM-1500, which received FDA clearance in February 2020.
Zynex, Inc. (Nasdaq: ZYXI) has been recognized in The Power 500 Healthcare Technology Companies, ranking 27th among medical device firms. This accolade underscores Zynex's role as a leader in the healthcare technology sector, particularly in non-invasive medical devices for pain management and rehabilitation. CEO Thomas Sandgaard emphasized that this recognition is a testament to the company's operational performance and commitment to improving patient health. Zynex aims for continued innovation and growth in its offerings.
Zynex, Inc. (NASDAQ: ZYXI) reported record order growth for Q4 2022, with orders increasing by 48% compared to Q4 2021. This significant growth resulted in a 23% increase in full-year orders. CEO Thomas Sandgaard highlighted a 11% rise in orders over Q3 2022 as well. The company confirmed expected Q4 revenue between $48.0-$51.0 million and adjusted EBITDA of $10.0-$12.0 million. For the full year, revenue estimates are between $157.4-$160.4 million and adjusted EBITDA between $26.7-$28.7 million. The positive financial performance underscores Zynex's strong sales strategy and product demand.
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