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Dec 31, 2022
Zynex Q4 2022 Earnings Report
Reported a 21% increase in net revenue and a 53% increase in net income compared to Q3 2022.
Key Takeaways
Zynex, Inc. reported strong Q4 2022 financial results with a 21% increase in net revenue and a 53% increase in net income from the previous quarter. The company's cash flow from operations allowed for significant stock buybacks, and Zynex Monitoring Solutions is making progress with clinical data collection.
Net revenue increased by 21% compared to Q4 2021.
Net income increased by 53% compared to Q3 2022.
Cash on hand was $20.1 million at the end of the fourth quarter.
The company bought back over $26 million of its common stock during 2022.
Forward Guidance
Full year 2023 revenue is estimated to range between $180 - $200 million and with Diluted EPS of $0.40 - $0.50 per share. First quarter 2023 revenue is estimated to range between $39.0 - $41.0 million, an increase of approximately 29% from Q1 2022. First quarter Diluted EPS is estimated to range between $0.00- $0.03.
Positive Outlook
- Full year 2023 revenue is estimated to range between $180 - $200 million.
- Full year 2023 Diluted EPS is estimated to range between $0.40 - $0.50 per share.
- First quarter 2023 revenue is estimated to range between $39.0 - $41.0 million.
- First quarter 2023 revenue represents an increase of approximately 29% from Q1 2022.
Challenges Ahead
- Diluted EPS is impacted by increased operating expenses to support ZMS.
- Increased operating expenses are to support ZMS as the Laser-based Pulse Oximetry products are prepared for FDA submission and the fluid monitor is readied for the market.
- First quarter revenue is affected by the resetting of health insurance deductibles in the beginning of a calendar year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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