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Mar 31, 2020
Zynex Q1 2020 Earnings Report
Reported a 66% increase in revenue and a net income of $2.9 million.
Key Takeaways
Zynex reported a strong first quarter with a 66% increase in revenue to $15.2 million and a net income of $2.9 million, marking the fifteenth consecutive quarter of positive net income. The company also saw significant order growth and generated $0.6 million in cash from operations.
Net revenue increased by 66% compared to the first quarter of 2019.
Net income reached $2.9 million.
Orders grew 126% compared to the first quarter of 2019.
Cash from operations was $0.6 million.
Forward Guidance
The estimated range for second quarter revenue is between $17.5 and $18.0 million with Adjusted EBITDA between $3.2 and $3.7 million as we continue to invest in growing our sales force. Full year 2020 estimates are unchanged. Revenue is estimated between $78.0 and $83.0 million with Adjusted EBITDA between $15.0 and $18.0 million.
Positive Outlook
- Second quarter revenue is expected to be between $17.5 and $18.0 million.
- Adjusted EBITDA for the second quarter is projected to be between $3.2 and $3.7 million.
- Full year revenue is estimated between $78.0 and $83.0 million.
- Full year Adjusted EBITDA is projected to be between $15.0 and $18.0 million.
- Order volumes have stabilized and remained steady during the last 3 weeks of March and through April.
Challenges Ahead
- The COVID-19 pandemic continues to impact the availability of physicians to prescribe products.
- Employee and supply chain issues are being navigated due to COVID-19.
- Second quarter revenue estimate is approximately 70% to 75% above 2019 second quarter revenue of $10.3 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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