Full Press Release Details
Zynex Announces 70% Order Growth and Increases
Q3 2021 Adjusted EBITDA Estimate
CO - October 13, 2021 - 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
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."
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
contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform
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.
Investor Relations Contact:
Amato and Partners, LLC
Investor Relations Counsel