Loading...
•
Jun 30, 2021
Zynex Q2 2021 Earnings Report
Reported a 61% increase in revenue and a net income of $2.8 million.
Key Takeaways
Zynex reported a strong second quarter with record revenue of $31.0 million, a 61% increase year-over-year, and a net income of $2.8 million. The company's order growth was significant at 247%.
Net revenue increased by 61% compared to Q2 2020, reaching $31.0 million.
Gross margins were 77% for the second quarter of 2021.
Net income was $2.8 million for the second quarter.
Order growth in the second quarter was 247%.
Zynex
Zynex
Forward Guidance
The estimated range for third quarter revenue is between $34.5 and $36.0 million with Adjusted EBITDA between $5.0 and $6.0 million. Full year 2021 revenue is estimated between $130.0 and $137.5 million with Adjusted EBITDA between $16.5 and $21.5 million.
Positive Outlook
- Third quarter revenue is expected to be between $34.5 and $36.0 million.
- Third quarter Adjusted EBITDA is expected to be between $5.0 and $6.0 million.
- Full year revenue is estimated between $130.0 and $137.5 million.
- Full year Adjusted EBITDA is expected to be between $16.5 and $21.5 million.
- Third quarter revenue is expected to be approximately 72% to 80% above 2020 third quarter revenue.
Challenges Ahead
- The full year revenue estimate is on the lower end of previously provided guidance.
- Competitive job market is impacting the number of sales reps.
- Slower hiring due to a very competitive job market.
- Fewer sales reps than expected.
- Cash decreased slightly during the quarter due to the Company spending $2.0 million on its stock buy-back program.