ENGLEWOOD, Colo., Jan. 17,
2023 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI),
an innovative medical technology company specializing in the
manufacture and sale of non-invasive medical devices for pain
management, rehabilitation, and patient monitoring, today announced
preliminary results for fourth quarter 2022 and reiterated full
year guidance.
"We experienced yet another quarter of record order growth in
the fourth quarter 2022. Q4 orders were the highest in Company
history and we saw a 48% increase in orders over the same period in
2021. This was the largest growth figure throughout 2022 and led to
full-year order growth of 23%. Additionally, where third quarter
2022 orders had been the highest in company history, fourth quarter
orders grew another 11% over Q3," said Thomas Sandgaard, CEO of Zynex. "Our continued
performance is a testament to the durability of our product
offering and the increased productivity of our growing sales
force."
"We are confirming our previous estimates for fourth quarter
revenue between $48.0-$51.0 million and adjusted EBITDA between
$10.0-$12.0
million," said Sandgaard. "I am pleased with a strong finish
to a successful and profitable 2022, and look forward to the
Company's expansion and growth throughout the coming year."
Based on the fourth quarter estimates, the full year 2022
revenue estimate now ranges between $157.4-$160.4 million and Adjusted EBITDA
between $26.7-$28.7 million.
About Zynex, Inc.
Zynex, founded in 1996,
markets and sells its own design of electrotherapy medical devices
used for pain management and rehabilitation as well as developing
noninvasive patient fluid, pulse oximetry and sepsis monitoring
systems. For additional information, please
visit: www.zynex.com.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to
the future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore you should not rely on any of
these forward looking statements. The Company makes no express or
implied representation or warranty as to the completeness of
forward-looking statements or, in the case of projections, as to
their attainability or the accuracy and completeness of the
assumptions from which they are derived. Factors that could cause
actual results to materially differ from forward-looking statements
include, but are not limited to, the need to obtain CE marking of
new products, the acceptance of new products as well as existing
products by doctors and hospitals, larger competitors with greater
financial resources, the need to keep pace with technological
changes, our dependence on the reimbursement for our products from
health insurance companies, our dependence on third party
manufacturers to produce our products on time and to our
specifications, implementation of our sales strategy including a
strong direct sales force, the impact of COVID-19 on the global
economy and other risks described in our filings with the
Securities and Exchange Commission including but not limited to,
our Annual Report on Form 10-K for the year ended December 31,
2021 as well as our quarterly reports on Form 10-Q and current
reports on Form 8-K.
Any forward-looking statement made by us in this release is
based only on information currently available to us and speaks only
as of the date on which it is made. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Contact: Zynex, Inc. (800) 495-6670
Investor Relations Contact:
Gilmartin Group
Investor Relations Counsel
ir@zynex.com
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SOURCE Zynex