Zynex Q3 2022 Earnings Report
Key Takeaways
Zynex reported a 19% increase in net revenue to $41.5 million compared to Q3 2021. Net income increased by 46% from the previous quarter to $4.9 million. The company had $23.5 million in cash on hand and generated $7.4 million in operating cash flow.
Net revenue increased by 19% year-over-year to $41.5 million.
Net income was $4.9 million, a 46% increase from the second quarter of 2022.
Operating cash flows reached $7.4 million, marking the second-best period in the company's history.
The company completed a $10 million stock buyback, bringing the year-to-date total to $20 million.
Zynex
Zynex
Forward Guidance
The estimated range for fourth quarter 2022 revenue is between $48-$51 million, an increase of approximately 23% from Q4 2021. Adjusted EBITDA for the fourth quarter 2022 is estimated to range between $10-$12 million. Based on the fourth quarter estimates, the full year 2022 revenue estimate now ranges between $157.4-$160.4 million and Adjusted EBITDA between $26.7-$28.7 million.
Positive Outlook
- Fourth quarter revenue is estimated to be between $48-$51 million, a 23% increase from Q4 2021.
- Fourth quarter Adjusted EBITDA is estimated to be between $10-$12 million.
- Full year 2022 revenue is estimated to be between $157.4-$160.4 million.
- Full year 2022 Adjusted EBITDA is estimated to be between $26.7-$28.7 million.