Zynex, Inc. (ZYXI) Announces 140% Year over Year Order Growth in Q1

April 12, 2021 9:16 AM EDT

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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 orders for Q1 2021.

Thomas Sandgaard, CEO of Zynex said: "Our order growth in Q1 was strong at 140% year over year growth. Our sales team continues to do a great job as selling returns to a more normal cadence as the country slowly emerges from COVID-19.

The company is confirming its previous revenue estimate for the first quarter of 2021 of between $23.0 and $24.5 million and its first quarter Adjusted EBITDA loss estimate of between $0.5 and $1.5 million.

The company's full year 2021 revenue estimate is currently between $135.0 and $150.0 million. The revenue estimate is approximately 68% to 87% above last year's full year revenue of $80.1 million.

(*Consensus sees FY revenue of $138 million)

2021 full year estimated Adjusted EBITDA is currently estimated between $15.0 to $25.0 million comparted to 2020's full year Adjusted EBITDA of $13.7 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 U.S. 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."

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