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Sep 30, 2023
Zynex Q3 2023 Earnings Report
Zynex's third quarter results were released, demonstrating revenue growth and profitability.
Key Takeaways
Zynex reported a 20% increase in revenue to $49.9 million and EPS of $0.10 for Q3 2023. The company achieved record-high order numbers and positive cash flow, driven by its pain management division. They also introduced three new therapy products and are developing the next generation of patient monitoring equipment.
Q3 2023 revenue increased 20% year-over-year to $49.9 million.
Net income reached $3.6 million, with a diluted EPS of $0.10.
Orders increased 39% year-over-year, marking the highest number of orders in Company history for the 6th consecutive quarter.
Cash from operations was $8.9 million in the third quarter, the highest in Company history.
Revenue by Segment
Forward Guidance
Zynex estimates fourth quarter 2023 revenue to be $52.5-$57.5 million, and diluted EPS to be $0.17-$0.22. 2023 estimates are revenue of $189.5-$194.5 million and Diluted EPS of $0.40-$0.45 per share.
Positive Outlook
- Fourth quarter 2023 revenue is estimated to be $52.5-$57.5 million, an increase of approximately 13% from Q4 2022.
- Fourth quarter Diluted EPS is estimated to be $0.17-$0.22.
- 2023 revenue is estimated to be $189.5-$194.5 million.
- 2023 Diluted EPS is estimated to be $0.40-$0.45 per share.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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