Zynex ( NASDAQ: ZYXI ) stock rose ~12% on July 29 after Q2 results beat analysts' estimates and the company reaffirmed its FY22 revenue outlook a day ago.
The Englewood, Colo.-based medical device maker's Q2 revenue grew +18.49% Y/Y to $36.76M.
"Our reps are becoming highly efficient and revenue projections reflect our confidence in the sales force to produce exceptional results. The record orders we posted in second quarter will put us in a position to realize strong results in the second half of 2022," said Zynex President and CEO Thomas Sandgaard.
Revenue from Devices segment increased +21% Y/Y to ~$9.51M, while Supplies segment grew +18% Y/Y to $27.25M.
Net income increased +19% Y/Y to $3.35M, while adjusted EBITDA grew 16% Y/Y to $5.54M.
As of June 30, the company had working capital of $51.8M.
Cash on hand at the end of Q2 was $26.9M.
Outlook :
Q3 : Zynex said it expects Q3 revenue to be between $40M and $43M, growing ~20% Y/Y. Consensus Revenue Estimate for Q3 is $41.90M. Adjusted EBITDA is estimated to be in the range of $7M to $9M.
Full year 2022 : Zynex said it was reaffirming its 2022 revenue estimates in the range of $150M to $170M; Consensus Revenue Estimate for 2022 is $158.97M.
- Adjusted EBITDA expected between $25M and $35M.
For further details see:
Zynex stock soars 12% as Q2 revenue grows Y/Y, maintains FY22 outlook