Zynex Announces Additional Share Buyback Program Englewood , CO

Zynex Announces Additional Share Buyback Program

November 1, 2022 - Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture

and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring, today announced that its board

of directors approved a program to buy back $10.0 million of the Company's common stock. The program will commence on November 1, 2022

and is scheduled to terminate on October 31, 2023 or when the $10.0 million buyback limit is reached.

"We are committed to driving long-term value for our shareholders

and believe that the current strength of our balance sheet presents a strategic opportunity for a third buyback program," said

Thomas Sandgaard, founder, and CEO of Zynex. "We've repurchased $20 million of our common stock thus far in 2022 and an additional

$10 million share buyback reiterates our commitment to creating value. We believe our consistent performance and ability to maintain

profitability is not reflected in Zynex's market valuation and are initiating this buyback program as an attractive opportunity

to deploy capital and return value to our shareholders."

Under the share buyback program, buybacks may be made from time-to-time

in open market and negotiated purchases, effective immediately through the next twelve months. These buybacks will be made in compliance

with the SEC's Rule 10b-18, subject to market conditions, available liquidity, cash flow, applicable legal requirements, and other factors.

The specific prices, numbers of shares, and timing of purchase transactions will be determined by the Company from time to time in its

sole discretion. This program does not obligate the Company to acquire any particular amount of common stock, and the program

may be suspended or discontinued at any time, including in the event the Company would be deemed to be making an acquisition of its own

shares under Rule 13e-3 of the Securities Exchange Act of 1934, as amended.

The Company expects to finance the purchases with existing cash

balances, which is not expected to have a material impact on capital levels.

Zynex, Inc. had approximately 41.6 million shares issued and 37.5

million shares outstanding as of November 1, 2022.

Zynex, founded in 1996, develops, manufactures, markets, and sells medical devices used for pain management and rehabilitation as

well as non-invasive fluid, sepsis, and laser-based pulse oximetry monitoring systems for use in hospitals. For additional information,

please visit: www.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, 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 products 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, 2021 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.