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Dec 31, 2024
Zynex Q4 2024 Earnings Report
Zynex reported a revenue decline and a net loss in Q4 2024 due to slower payments from certain payers and Tricare’s temporary payment suspension.
Key Takeaways
Zynex reported Q4 2024 revenue of $46.0 million, a slight decline from the prior year. The company posted a net loss of $0.6 million, or ($0.02) per share. Adjusted EBITDA was significantly lower year-over-year at $0.6 million. Cash flow from operations for the quarter was $2.4 million. The company faces revenue challenges due to payment suspensions but is restructuring to manage costs and expects improvements in 2025.
Q4 2024 revenue declined 2.8% year-over-year to $46.0 million.
Net loss of $0.6 million compared to net income of $1.2 million in Q4 2023.
Adjusted EBITDA dropped to $0.6 million from $9.9 million last year.
Company reducing staff by 15% to cut costs amid payer-related revenue disruptions.
Zynex
Zynex
Zynex Revenue by Segment
Revenue by Segment
Medical Devices Revenue
CapyFin.comMedical Supplies Revenue
CapyFin.com Forward Guidance
Zynex expects Q1 2025 revenue of at least $30 million, with a projected per-share loss of ($0.30) or better. Cost-cutting measures are expected to positively impact profitability starting in Q2 2025.
Positive Outlook
- Revenue is expected to increase sequentially throughout 2025.
- Cost-cutting measures to yield $35 million in annual savings.
- Payer expansion efforts underway to diversify revenue sources.
- Successful clinical trials for the NiCO pulse oximeter at Duke University.
- Company maintains a strong balance sheet despite revenue headwinds.
Challenges Ahead
- Tricare's payment suspension continues to impact revenue.
- Q1 2025 is expected to report a loss per share of ($0.30) or better.
- Revenue pressures necessitate a 15% workforce reduction.
- Slower-than-expected payments from certain payers affecting cash flow.
- Near-term revenue challenges may persist until payer expansion efforts materialize.
Revenue & Expenses
Visualization of income flow from segment revenue to net income