ENGLEWOOD, Colo., Sept. 3, 2020 /PRNewswire/ -- Zynex, Inc.
(NASDAQ: ZYXI), an innovative medical technology company
specializing in manufacturing and selling non-invasive medical
devices for pain management, stroke rehabilitation, cardiac
monitoring and neurological diagnostics, today announced order
growth for July and August 2020.
Aggregate orders in July and August were 83% above the prior
year July and August aggregate and well above the 37% growth in the
second quarter of 2020.
Thomas Sandgaard, CEO of Zynex
said: "In June, as many cities re-opened their doors for business,
we have seen consistent order growth and it has continued in the
third quarter as we posted 83% year-over-year order growth in July
and August as we move closer to pre-COVID-19 sales rep productivity
levels. We don't typically give order growth updates on a monthly
basis but we thought it was important to share our progress as
business returns to normal. Our continued order growth during this
pandemic shows the strength of relationships our sales force has
with many prescribers and the need for them to prescribe
non-opioid, non-addictive prescription strength solutions for their
patients in pain."
The Company's full year 2020 revenue estimate is between
$80 and $85
million which is approximately 76% to 87% above last
year's full year revenue of $45.5
million.
2020 full year estimated adjusted EBITDA is $15.0 to $18.0
million.
Our prescription-strength NexWave device is a healthy
alternative to prescribing opioids as the first line of defense
when treating pain. We continue to add additional sales reps in
territories throughout the US that we have not covered
previously.
We continue to advocate for pain patients, and for physicians to
prescribe our NexWave technology as the first line of defense in
treating chronic and acute pain without side effects. We are
dedicated to promoting our technology in an effort to remove
patient addiction and other side effects from prescription
opioids."
About Zynex
Zynex, founded in 1996, markets and
sells its own design of electrotherapy medical devices used for
pain management and rehabilitation; and the Company's proprietary
NeuroMove device designed to help recovery of stroke and spinal
cord injury patients. Zynex is also developing a new blood volume
monitor for use in hospitals and surgery centers. For
additional information, please visit: 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,
forecasts, 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 goods 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 our
Annual Report on Form 10-K for the year ended December 31,
2019 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.
(303) 703-4906
Investor Relations Contact:
Amato and Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com
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SOURCE Zynex