Full Press Release Details
83% Order Growth for July and August
CO - September 3, 2020 - 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 order growth for July and August 2020.
Aggregate orders in July and August
were 83% above the prior year July and August aggregate and well above the 37% growth in the second quarter of 2020.
Thomas Sandgaard, CEO of Zynex said:
"In June, as many cities re-opened their doors for business, we have seen consistent order growth and it has continued in
the third quarter as we posted 83% year-over-year order growth in July and August as we move closer to pre-COVID-19 sales rep
productivity levels. We don't typically give order growth updates on a monthly basis but we thought it was important to
share our progress as business returns to normal. Our continued order growth during this pandemic shows the strength of relationships
our sales force has with many prescribers and the need for them to prescribe non-opioid, non-addictive prescription strength solutions
for their patients in pain."
The Company's full year 2020
revenue estimate is between $80 and $85 million which is approximately 76% to 87% above last year's full year revenue of
2020 full year estimated adjusted
EBITDA is $15.0 to $18.0 million.
Our prescription-strength NexWave
device is a healthy alternative to prescribing opioids as the first line of defense when treating pain. We continue to add additional
sales reps in territories throughout the US that we have not covered previously.
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."
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 is also
developing a new blood volume monitor for use in hospitals and surgery centers. For additional information, please visit: Zynex.com.
Safe Harbor Statement
release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation
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 our Annual Report on Form
10-K for the year ended December 31, 2019 as well as our quarterly reports on Form 10-Q and current reports on Form
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