Zynex Reports Fourth Quarter 2022 Preliminary Results

ENGLEWOOD, Colo., Jan. 17, 2023 /PRNewswire/ — Zynex, Inc. (NASDAQ: ZYXI), an innovative company in medical technology that specializes in non-invasive medical devices for pain management and rehabilitation and patient monitoring, today announced preliminary results and reiterated full-year guidance.

“We had record fourth quarter order growth in 2022. The Company’s fourth quarter orders were at their highest level ever. We also saw an increase of 48% in orders over the same period 2021. This was the biggest growth figure for 2022 and resulted in a 23% increase on year. Furthermore, the third quarter 2022 orders were the highest ever recorded by company history. However, orders for the fourth quarter grew 11% more than Q3.” Thomas SandgaardZynex CEO,. “Our continuing performance is a testament the durability of the product offering and the improved productivity of our growing sales team.”

“We confirm our prior estimates for fourth-quarter revenue between $48.0–$51.0 million Adjusted EBITDA between $10.0–$12.0 millionSandgaard said, “Thank you.” “I was pleased with the strong end to 2022. I look forward to the Company’s growth and expansion in the next 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 millions.

About Zynex, Inc. 
Zynex was established in 1996 and markets and sells its own electrotherapy medical devices. It also develops noninvasive patient fluids, pulse oximetry, and sepsis monitoring system. Visit: www.zynex.com.

Safe Harbor Statement

This release contains forward-looking statements that are within the scope of U.S. safe harbor provisions. Private Securities Litigation Reform Act of 1996.

Forward-looking statements are neither historical facts nor assurances of future performance. These statements are based solely on our current beliefs, assumptions, and assumptions about the future of our business and future plans and strategies. They also include projections, trends, anticipated events, 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. Forward-looking statements may not reflect our actual results or financial situation. These forward-looking statements should not be relied upon. The Company does not make any express or implied warranty regarding the accuracy or completeness of forward-looking information or projections. 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.

Forward-looking statements in this release are made only on current information and reflect only the date of their publication. Any forward-looking statements, written or oral or both, are subject to change without notice, regardless of whether they have been made as a result new information, future developments, or any other factors.

Contact: Zynex, Inc. (800) 495-6670

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SOURCE Zynex