Zynex Q1 2023 Earnings Report
Key Takeaways
Zynex announced strong Q1 2023 results, marked by a 36% increase in net revenue year-over-year, reaching $42.2 million. The company also reported a 14% increase in net income, amounting to $1.6 million. The company's cash from operations increased by 10% compared to the same period in 2022.
Net revenue increased by 36% year-over-year to $42.2 million.
Gross margins were 78%.
Net income increased by 14% year-over-year to $1.6 million.
Cash from operations increased by 10% compared to the same period in 2022, reaching $1.9 million.
Zynex
Zynex
Forward Guidance
Zynex anticipates revenue between $43.5 - $45.5 million for Q2 2023, an approximate 21% increase from Q2 2022. The company estimates revenue ranging from $180 - $200 million for the full year 2023 and diluted EPS of $0.40 - $0.50 per share.
Positive Outlook
- Second quarter 2023 revenue is estimated to range between $43.5 - $45.5 million, an increase of approximately 21% from Q2 2022.
Challenges Ahead
- Diluted EPS is impacted by increased operating expenses to support ZMS.
- Diluted EPS is impacted as the Laser-based Pulse Oximetry products are prepared for FDA submission.
- Diluted EPS is impacted as the fluid monitor is readied for the market.