Welcome to our dedicated page for Zynex news (Ticker: ZYXI), a resource for investors and traders seeking the latest updates and insights on Zynex stock.
Zynex Inc. develops, manufactures, markets, and sells non-invasive medical devices used for pain management, rehabilitation, and patient monitoring. Company updates have focused on financial results, payer and billing procedures, revenue and cash-flow performance, sales-force changes, and product activity in patient monitoring, including pulse oximetry.
Zynex news also covers governance and corporate-status developments, including board and leadership changes, compliance initiatives, strategic alternatives, and the company's court-supervised financial restructuring. Later regulatory disclosures document that the reorganization became effective and that the prior publicly traded common stock was cancelled.
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Zynex, Inc. (NASDAQ: ZYXI) has initiated a $10.0 million share buyback program aimed at enhancing shareholder value. Announced on March 8, 2021, the program will commence immediately and conclude by September 8, 2021, or once the buyback limit is reached. Zynex's leadership, including President and CEO Thomas Sandgaard, expressed confidence in the company's growth prospects and stated that the current market valuation does not reflect its true value. The buybacks will be funded through existing cash and are expected to have no material impact on the company’s capital levels.
Zynex reported a remarkable 76% revenue increase for 2020, totaling $80.1 million. Fourth quarter revenue also surged by 81% to $25.6 million, with a net income of $1.8 million and adjusted EBITDA of $3.4 million. The company maintains a strong cash position with $39.2 million on hand. For 2021, Zynex projects revenue between $135 million and $150 million, indicating a potential growth of 68% to 87% compared to 2020. Despite anticipated challenges in Q1 due to seasonal factors, the company expects profitability to improve throughout the year.
Zynex, Inc. (Nasdaq: ZYXI), a leader in medical technology, announced an earnings webcast for Q4 and full-year 2020 on February 25, 2021, at 2:15 p.m. MT (4:15 p.m. ET). The webcast will cover their financial performance, although specific metrics were not disclosed in the PR. Stakeholders can register to attend the event online or via the provided dial-in numbers. Zynex specializes in non-invasive medical devices for pain management and rehabilitation.
Zynex, Inc. (NASDAQ: ZYXI) has promoted Anna Lucsok to Chief Operating Officer of Zynex Medical as of January 28, 2021, succeeding Joseph Papandrea. Lucsok, who previously served as Vice President of Reimbursement and Sales Operations, has extensive experience in healthcare operations and has significantly contributed to the company's sales and patient experience improvements. CEO Thomas Sandgaard expressed gratitude for Papandrea's contributions and optimism for Lucsok's leadership in driving growth and success in the company's operations.
Zynex, Inc. (NASDAQ: ZYXI) announced the filing for a provisional patent for a noninvasive sepsis monitor aimed at improving early detection of sepsis, a critical condition affecting over 1.7 million adults annually in the U.S. The monitor is designed to significantly enhance patient monitoring by providing advanced warnings of deteriorating health conditions due to sepsis. This innovation is expected to save lives and complement Zynex's existing CM-1500 Blood Volume Monitor, enhancing their product portfolio in medical technology.
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.