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Sep 30, 2021
Zynex Q3 2021 Earnings Report
Reported a 74% increase in revenue and a net income of $6.1 million.
Key Takeaways
Zynex reported record revenue of $34.8 million and net income of $6.1 million for the third quarter of 2021. The company's order growth increased by 70%, driving increasing revenue. They also submitted their next generation CM-1600 for FDA clearance within the next ninety days.
Net revenue increased by 74% compared to Q3 2020.
Gross margins were 80% in Q3 2021.
Net income was $6.1 million in Q3 2021.
Cash on hand was $35.4 million at the end of Q3 2021.
Zynex
Zynex
Forward Guidance
The estimated range for fourth quarter revenue is between $40.0 and $43.0 million with Adjusted EBITDA between $9.0 and $10.0 million. Full year 2021 revenue is estimated between $130.0 and $133.0 million with Adjusted EBITDA between $22.7 and $23.7 million.