ZYXI - Zynex stock soars 15% as Q4 revenue climbs eyes 'double-digit growth going forward'

2023-03-13 11:31:46 ET

Zynex ( NASDAQ: ZYXI ) stock rose ~15% on Monday after Q4 earnings beat estimates.

Q4 GAAP EPS declined -13% to $0.20, but surpassed estimates.

Total net revenue grew +20.9% Y/Y to ~$48.81M, however missed analysts expectations.

Devices revenue increased +19.2% Y/Y to ~$15.92M, while Supplies revenue climbed +21.7% Y/Y to ~$32.89M.

The company said orders increased 48%, its highest number of orders in Zynex history for the 3rd consecutive quarter.

Outlook :

"Additionally, Zynex Monitoring Solutions (ZMS) is making significant progress with clinical data collection, and we expect to hit several regulatory milestones in 2023. We look forward to maintaining shareholder value through continued financial health and double-digit growth going forward," said President and CEO Thomas Sandgaard.

Full Year 2023 :

The company expects full year 2023 revenue to be between $180M and $200M ( consensus $196.06M). EPS is expected in the range of $0.40 to $0.50.

Zynex noted that the revenue range is based on its  estimates of labor market conditions and sales rep productivity.

The company added that diluted EPS is impacted by increased operating expenses to support ZMS as the Laser-based Pulse Oximetry products are prepared for FDA submission and the fluid monitor is readied for the market.

Q1 : Zynex anticipates Q1 revenue in the range of $39M to $41M ( consensus $39.05M).

Zynex added that Q1 revenue is affected by the resetting of health insurance deductibles at the start of the year, seasonably lower revenues in Q1 are a historical trend for the company and an industry norm.

Q1 EPS is expected between $0.00 and $0.03.

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