Zynex Inc Stock Price, News & Analysis

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.

Zynex, Inc. (NASDAQ: ZYXI) announced its participation in the Piper Sandler 32nd Annual Virtual Healthcare Conference set for November 23 to December 3. Registered attendees can access presentations via the conference site, while 1X1 meetings are scheduled from December 1-3 and can be requested through Piper Sandler. Founded in 1996, Zynex specializes in non-invasive medical devices for pain management, stroke rehabilitation, and cardiac monitoring. For more details, visit Zynex.com.

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.