Zynex, Inc. (NASDAQ: ZYXI) reported Q2 EPS of $0.09, in-line with the analyst estimate of $0.09. Revenue for the quarter came in at $19.26 million versus the consensus estimate of $19.12 million.

President and CEO Commentary:

Thomas Sandgaard, CEO said: "I am excited to announce our sixteenth consecutive quarter of positive net income. In the second quarter, we posted revenue of $19.3 million, which is the highest quarterly revenue in the history of the Company and net income of $3.0 million. Orders grew 37% compared to the second quarter of 2019.

Similar to most companies we have seen the impact of the COVID-19 pandemic, not only on the availability of physicians to prescribe our products but also on navigating employee and supply chain issues. Our continued order growth during this pandemic shows the strength of relationships our sales force has with many prescribers and the need for them to prescribe non-opioid, non-addictive prescription strength solutions for their patients in pain.

In the second quarter, we continued to focus on the execution of our growth strategy and the related growth of our sales force as we eclipsed 300 sales reps. We expect the addition of new sales reps to have an impact on order and revenue growth later this year and going forward. In addition, we continue to invest in our infrastructure to support the increase in order volume.

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."

GUIDANCE:

Zynex, Inc. sees Q3 2020 revenue of $22.3-22.8 million, versus the consensus of $22.06 million.

Zynex, Inc. sees FY2020 revenue of $80-85 million, versus the consensus of $83.5 million.

For earnings history and earnings-related data on Zynex, Inc. (ZYXI) click here.