ENGLEWOOD, Colo., April 11,
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 first quarter 2023 and reiterated full year
guidance.
"We continue to execute in both our divisions, and in our pain
management division have posted another quarter of record order
growth for the first quarter of 2023. Q1 orders were the highest in
Company history, representing an increase of 61% over the same
period in 2022. This achievement follows a strong fourth quarter in
which Zynex saw 48% year-over-year growth, and we believe this to
be an indication that we can expect to maintain consistent revenue
growth as we further penetrate sales territories," said
Thomas Sandgaard, CEO of Zynex.
"We are confirming our previous estimates for first quarter
revenue of $39.0 - $41.0 million and earnings per share between
$0.00 - $0.03", said Sandgaard. "Our first quarter
revenue estimate is an increase of approximately 29% over the prior
year period, and I am pleased to begin the year with strong
momentum, solid order growth, and continued productivity in our
sales force."
The Company reiterates its full year 2023 guidance of
revenue between $180 - $200 million and earnings per share between
$0.40 - $0.50. First quarter revenue is affected by the
resetting of health insurance deductibles in the beginning of a
calendar year; seasonably lower revenues in the first quarter are a
historical trend for Zynex and an industry norm.
About Zynex, Inc.
Zynex, founded in 1996,
develops, manufactures, markets, and sells medical devices used for
pain management and rehabilitation as well as non-invasive fluid,
sepsis, and laser-based pulse oximetry monitoring systems for use
in hospitals. 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,
2022 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