Zynex, Inc. (ZYXI) Announces 70% Order Growth in Q3, Increases EBITDA Guidance
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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 and an increased Adjusted EBITDA estimate for Q3 2021.
Thomas Sandgaard, CEO of Zynex said: "Our order growth in Q3 remained strong at 70% year over year and 134% for the first three quarters of 2021. We are pleased with our continued revenue growth and the related profitability as we continue to leverage the sales investments we've made over the last couple years. Q3 2021 Adjusted EBITDA is by far the largest in company history and reaffirms our growth strategy. As our reps continue to get more efficient, our profitability will remain strong.
We are confirming our previous revenue estimate for the third quarter of 2021 of between $34.5 and $36.0 million. Q3 2021 Adjusted EBITDA is now expected to come in between $9.0 and $10.0 million compared to the previous estimate of $5.0 to $6.0 million.
The company's current full year 2021 revenue estimate is currently between $130.0 and $137.5 million. The revenue estimate is approximately 62% to 72% above last year's full year revenue of $80.1 million. The 2021 full year estimated Adjusted EBITDA is currently estimated between $16.5 to $21.5 million compared to 2020's full year Adjusted EBITDA of $13.7 million.
The company will provide updated full year revenue and Adjusted EBITDA estimates with its Q3 2021 earnings release in late October.
Our prescription-strength NexWave device is a healthy alternative to prescribing opioids as the first line of defense when treating pain.
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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