ZYXI - Why Zynex Stock Is Crashing Today
Shares of Zynex (NASDAQ: ZYXI) were crashing 17.8% lower as of 11:21 a.m. EST on Friday. The steep drop came after the medical technology company announced its fourth-quarter results following the market close on Thursday.
It wasn't that Zynex's Q4 results were bad. The company reported that revenue soared 81% year over year to an all-time high of $25.6 million. It generated earnings in the fourth quarter of $1.8 million, or $0.05 per diluted share. The problem was that those numbers didn't quite meet Wall Street's expectations.
An even bigger issue, though, was that Zynex's 2021 Q1 forecast fell short of analysts' views. The company projects Q1 revenue between $23 million and $24.5 million. This midpoint of that range is well below the average analyst estimate of $27.4 million. And while Wall Street was looking for earnings of $0.07 per share in the first quarter, Zynex anticipates a "small loss."
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Why Zynex Stock Is Crashing Today