Zynex Inc Stock Price, News & Analysis

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.

Zynex, Inc. (NASDAQ: ZYXI), a leader in non-invasive medical devices, announced it has reached 400 sales representatives in the U.S., surpassing its target of 400 ahead of the September 30 deadline. The company aims to increase this number to 500 by the end of 2020 and over 600 by the end of 2021. CEO Thomas Sandgaard highlighted the opportunity presented by increased unemployment due to COVID-19, improving rep productivity, and positioning the NexWave device as a non-opioid treatment option. Zynex focuses on advocating for pain management solutions to reduce addiction risks.

Zynex, a medical technology company, reported an 83% increase in aggregate orders for July and August 2020 compared to the previous year, surpassing the 37% growth in Q2 2020. The company’s full-year revenue estimate is $80 to $85 million, marking a 76% to 87% rise from 2019's $45.5 million. Zynex emphasizes the demand for its NexWave device as a non-opioid pain management solution, and continues expanding its sales force across the U.S. The estimated adjusted EBITDA for 2020 is $15 to $18 million.

Zynex, Inc. (NASDAQ: ZYXI) reported its second quarter financial results for 2020, showcasing a net revenue of $19.3 million, an impressive 87% increase from the previous year. The company's gross margins stood at 79%, with a net income of $3.0 million and an Adjusted EBITDA of $4.8 million. As of June 30, 2020, working capital rose to $23.8 million, with cash on hand at $16.9 million. The outlook for Q3 2020 predicts revenues between $22.3 million and $22.8 million, significantly higher than 2019 levels.

Zynex (Nasdaq: ZYXI) has announced it will host its second quarter earnings webcast on July 28, 2020, at 2:15 p.m. Mountain Time (4:15 p.m. Eastern Time). The company, known for its innovative medical devices in pain management and rehabilitation, invites interested parties to register for the event. Founded in 1996, Zynex focuses on developing non-invasive devices, including its proprietary NeuroMove for stroke recovery. The press release underscores the company's commitment to transparency and communication with investors.

Zynex (Nasdaq: ZYXI) announced the pricing of an underwritten public offering of 2,500,000 shares of common stock at $22.00 per share, aiming for gross proceeds of approximately $27.5 million. The offering consists of equal contributions from Zynex and certain stockholders. The funds will be used to expand the sales force, enhance marketing efforts, launch a new blood volume monitor, and for general corporate purposes. The offering is expected to close on July 17, 2020, subject to customary conditions.

Zynex, a medical technology company, announced a public offering of its common stock. The offering involves Zynex and certain stockholders proposing to sell shares, with a 30-day option for underwriters to purchase additional shares. Funds from the offering will be used to expand the sales force, marketing efforts, and launch a new blood volume monitor. The offering is subject to market conditions, and Zynex will not receive proceeds from sales made by stockholders. Piper Sandler is the sole book-running manager for this offering.

Zynex, Inc. (NASDAQ: ZYXI), a medical technology company, reported a 37% increase in orders for Q2 2020 compared to Q2 2019, though orders were 23% lower than Q1 2020 due to COVID-19 impacts. The company updated its Q2 revenue estimate to between $18.9 million and $19.4 million, up from a previous estimate of $17.5 million to $18 million. Zynex also increased its full-year revenue estimate to between $80 million and $85 million, a projected increase of 76% to 87% over last year's revenue of $45.5 million.