ENGLEWOOD,
Colo. , July 11,
2022 /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 second quarter 2022 and reiterated full
year guidance.
"Our order growth remained strong throughout the second quarter,
wherein June and Q2 saw the highest number of monthly and quarterly
orders in the Company's history, respectively. Second quarter
orders grew 19% sequentially over Q1 2022 and 10% over Q2 2021,
which had, to date, been the highest order total in Company
history. Additionally, cash collections remained strong during the
quarter. We are confirming our previous estimates for second
quarter revenue of $35.0 to $38.0
million and adjusted EBITDA between $4.0 and $6.0
million," said Thomas
Sandgaard, CEO of Zynex. "These figures are in line with our
full year guidance range, and we remain committed to executing on
our strategic growth while maintaining financial health. Our Q2
2022 revenue estimate is approximately 18% higher than Q2
2021."
"As the year progresses, we look forward to emphasizing the
efficiency of our sales force and expect to see profitable growth
with a hyperfocused cohort of reps," said Sandgaard. "Zynex is
fostering a high standard of performance within the sales team and
anticipates new and existing reps to be able to sell more
effectively in the coming quarters."
The Company reiterates its full year 2022 guidance of
$150 to $170
million in revenue and adjusted EBITDA between $25 and $35
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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/zynex-reports-preliminary-second-quarter-2022-results-and-reiterates-full-year-revenue-and-ebitda-guidance-301583511.html
SOURCE Zynex