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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), a leading medical technology firm, has announced its participation in the Gilmartin Group Emerging Growth Company Showcase on August 31, 2022, at 11:00 am ET. The event will be held virtually, allowing interested parties to access the live and archived webcast via Zynex's investor relations page. Founded in 1996, Zynex specializes in non-invasive medical devices for pain management and rehabilitation. For further details and registration, visit their official site.
Zynex, Inc. (Nasdaq: ZYXI) has initiated enrollment in a clinical trial for its second-generation fluid monitoring system, the CM-1600, designed for apheresis procedures. The trial builds on data collected from its predicate device, the CM-1500, which received FDA clearance in February 2020. Currently, 53 subjects are participating in the study, with completion of enrollment expected by Q4 2022. Zynex aims to demonstrate the CM-1600's enhanced sensitivity and accuracy in various clinical settings to support its market value.
Zynex, Inc. (NASDAQ: ZYXI) reported strong financial results for Q2 2022, with revenue increasing 18% year-over-year to $36.8 million. Net income rose 19% to $3.3 million, yielding a diluted EPS of $0.08. Adjusted EBITDA also showed a significant increase of 16%, reaching $5.5 million. The company completed a $10 million share buyback and announced an additional program of $10 million. With the highest order volume recorded, Zynex reaffirms its full-year revenue guidance of $150-$170 million and third-quarter revenue expected between $40-$43 million.
Zynex, Inc. (NASDAQ: ZYXI) announced it will report its second quarter 2022 financial results on July 28, 2022. The management will also conduct a conference call at 4:15 p.m. ET to discuss financial results and provide corporate updates. Zynex specializes in non-invasive medical devices for pain management, rehabilitation, and monitoring. Founded in 1996, the company is focused on developing innovative medical technologies. Stakeholders can register for the webcast via the provided link.
Zynex, Inc. (NASDAQ: ZYXI) reported strong preliminary second-quarter results for 2022, revealing a 19% sequential increase in orders compared to Q1 2022 and a 10% increase over Q2 2021. The company anticipates revenue between $35.0 million and $38.0 million with adjusted EBITDA between $4.0 million and $6.0 million, aligning with its full-year guidance of $150 million to $170 million in revenue. Zynex emphasized efficient sales force execution, aiming for sustained profitable growth.
Zynex, Inc. (NASDAQ: ZYXI), a medical technology company, announced the change of its independent registered accounting firm from Plante & Moran to Marcum LLP, effective June 13, 2022. This decision followed a thorough evaluation process and received approval from the Board of Directors and Audit Committee. CEO Thomas Sandgaard expressed gratitude to Plante & Moran for their service over the past five years, indicating no disagreements or reportable events during that period. Zynex specializes in non-invasive medical devices for pain management and rehabilitation.
Zynex, Inc. (NASDAQ: ZYXI) announced a $10 million share buyback program effective from June 10, 2022, aimed at enhancing shareholder value and reflecting board confidence in the company's growth strategy. This program follows the completion of a previous buyback in less than 50 days. The purchase will be financed through existing cash balances and is not expected to materially impact capital levels. The board believes the current market value does not accurately represent the company's true value, making this buyback an attractive opportunity for capital deployment.
Zynex, a leading medical technology company, will participate in two key investor conferences in May 2022. The management will present virtually at the H.C. Wainwright Annual Global Investment Conference on May 24, 2022, at 7 AM ET. Additionally, Zynex will present at the UBS Global Healthcare Conference on May 25, 2022, at 12:15 PM ET. Investors can access webcasts of both events through the company's investor relations website. Zynex specializes in non-invasive medical devices for pain management, rehabilitation, and patient monitoring.
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