Zynex Q1 2022 Earnings Report
Key Takeaways
Zynex reported a strong first quarter with a 29% increase in net revenue and a 296% increase in net income compared to Q1 2021. The company's cash collections were strong, and they initiated a stock buyback program.
Net revenue increased by 29% compared to the first quarter of 2021.
Gross margins remained strong at 78%.
Net income increased by 296% compared to Q1 2021.
Cash on hand was $39.2 million at the end of the quarter.
Zynex
Zynex
Forward Guidance
Zynex expects continued growth throughout 2022. Full year 2022 revenue is estimated in the range of $150-$170 million and Adjusted EBITDA between $25 and $35 million. The estimated range for second quarter 2022 revenue is between $35.0 and $38.0 million and Second quarter 2022 Adjusted EBITDA is estimated to range between $4.0 and $6.0 million.
Positive Outlook
- Full year 2022 revenue is estimated in the range of $150-$170 million
- Full year 2022 Adjusted EBITDA is estimated between $25 and $35 million
- Second quarter 2022 revenue is estimated to range between $35.0 and $38.0 million
- Second quarter 2022 Adjusted EBITDA is estimated to range between $4.0 and $6.0 million
- Profitability is expected to grow as sales reps become more efficient