ENGLEWOOD, Colo., Oct. 13, 2021 /PRNewswire/ -- Zynex, Inc.
(NASDAQ: ZYXI), an innovative medical technology company
specializing in manufacturing and selling non-invasive medical
devices for pain management, stroke rehabilitation, cardiac
monitoring and neurological diagnostics, today announced orders and
an increased Adjusted EBITDA estimate for Q3 2021.
Thomas Sandgaard, CEO of Zynex
said: "Our order growth in Q3 remained strong at 70% year over year
and 134% for the first three quarters of 2021. We are pleased with
our continued revenue growth and the related profitability as we
continue to leverage the sales investments we've made over the last
couple years. Q3 2021 Adjusted EBITDA is by far the largest in
company history and reaffirms our growth strategy. As our reps
continue to get more efficient, our profitability will remain
strong.
We are confirming our previous revenue estimate for the third
quarter of 2021 of between $34.5 and
$36.0 million. Q3 2021 Adjusted
EBITDA is now expected to come in between $9.0 and $10.0
million compared to the previous estimate of $5.0 to $6.0
million.
The company's current full year 2021 revenue estimate is
currently between $130.0 and
$137.5 million. The revenue estimate
is approximately 62% to 72% above last year's full year revenue of
$80.1 million. The 2021 full
year estimated Adjusted EBITDA is currently estimated between
$16.5 to $21.5
million compared to 2020's full year Adjusted EBITDA of
$13.7 million.
The company will provide updated full year revenue and Adjusted
EBITDA estimates with its Q3 2021 earnings release in late
October.
Our prescription-strength NexWave device is a healthy
alternative to prescribing opioids as the first line of defense
when treating pain.
We continue to advocate for pain patients, and for physicians to
prescribe our NexWave technology as the first line of defense in
treating chronic and acute pain without side effects. We are
dedicated to promoting our technology in an effort to remove
patient addiction and other side effects from prescription
opioids."
About Zynex
Zynex, founded in 1996, markets and sells its own design of
electrotherapy medical devices used for pain management and
rehabilitation; and the Company's proprietary NeuroMove device
designed to help recovery of stroke and spinal cord injury
patients. Zynex also has a fluid monitor for use in hospitals and
surgery centers. For additional information, please
visit: Zynex.com.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
forecasts, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict
and many of which are outside of our control. Our actual results
and financial condition may differ materially from those indicated
in the forward-looking statements. Therefore you should not rely on
any of these forward looking statements. The Company makes no
express or implied representation or warranty as to the
completeness of forward looking statements or, in the case of
projections, as to their attainability or the accuracy and
completeness of the assumptions from which they are derived.
Factors that could cause actual results to materially differ from
forward-looking statements include, but are not limited to, the
need to obtain CE marking of new products, the acceptance of new
products as well as existing products by doctors and hospitals,
larger competitors with greater financial resources, the need to
keep pace with technological changes, our dependence on the
reimbursement for our products from health insurance companies, our
dependence on third party manufacturers to produce our goods on
time and to our specifications, implementation of our sales
strategy including a strong direct sales force, the impact of
COVID-19 on the global economy and other risks described in our
filings with the Securities and Exchange Commission, including but
not limited to our Annual Report on Form 10-K for the year
ended December 31, 2020 as well as our quarterly reports
on Form 10-Q and current reports on Form 8-K.
Any forward-looking statement made by us in this release is
based only on information currently available to us and speaks only
as of the date on which it is made. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Contact:
Zynex, Inc.
(800) 495-6670
Investor Relations Contact:
Amato and Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com
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SOURCE Zynex