Zynex Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Zynex Inc. filed its Q1 2024 10-Q report detailing financial positions and instruments.</b>

AI Summary

ZYNEX INC (ZYXIQ) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Zynex Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business is in electromedical and electrotherapeutic apparatus. The report includes financial data related to common stock, treasury stock, retained earnings, and additional paid-in capital as of March 31, 2024. Key financial instruments such as convertible debt, warrants, and employee stock options are detailed for the reporting period.

Why It Matters

For investors and stakeholders tracking ZYNEX INC, this filing contains several important signals. This filing provides investors with the latest financial performance and position of Zynex Inc. for the first quarter of 2024, crucial for investment decisions. The detailed breakdown of equity, debt, and stock options offers insights into the company's capital structure and potential future dilution.

Risk Assessment

Risk Level: medium — ZYNEX INC shows moderate risk based on this filing. The filing is a standard quarterly report, but the company operates in the medical device sector which can be subject to regulatory changes and market competition, requiring ongoing monitoring.

Analyst Insight

Monitor Zynex Inc.'s upcoming earnings calls and subsequent filings for updates on revenue growth, profitability, and any new product developments or regulatory approvals.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-04-30 — Filing Date (Filed as of Date)
• 2021-12-22 — Escrow Stock Date (zyxi:EscrowStockMember)
• 2023-02-01 — Related Party Transaction Date (zyxi:Mr.SandgaardMember)

Key Players & Entities

• ZYNEX INC (company) — Filer
• 2024-03-31 (date) — Conformed Period of Report
• 2024-04-30 (date) — Filed as of Date
• 0000846475 (company) — Central Index Key
• 3845 (industry) — Standard Industrial Classification
• NV (state) — State of Incorporation
• 9655 MAROON CIRCLE (address) — Business Address Street 1
• ENGLEWOOD (city) — Business Address City

FAQ

Risk Factors

• Supplier Concentration Risk [medium — financial]: Risk related to supplier concentration is mentioned in the context of Cost of Goods Total for periods including Q1 2024 and Q1 2023.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial performance and position.)

Convertible Debt

Debt that can be converted into equity. (Indicates potential future dilution of common stock.)

Treasury Stock

Stock that a company has repurchased or bought back from the open market. (Affects the number of outstanding shares and can be used for stock options or acquisitions.)

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ZYXI NASDAQ Stock Market

Filing Documents

• zyxi-20240331x10q.htm (10-Q) — 1182KB
• zyxi-20240331xex31d1.htm (EX-31.1) — 10KB
• zyxi-20240331xex31d2.htm (EX-31.2) — 13KB
• zyxi-20240331xex32d1.htm (EX-32.1) — 7KB
• zyxi-20240331xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-006284.txt (&nbsp;) — 6232KB
• zyxi-20240331.xsd (EX-101.SCH) — 46KB
• zyxi-20240331_cal.xml (EX-101.CAL) — 54KB
• zyxi-20240331_def.xml (EX-101.DEF) — 191KB
• zyxi-20240331_lab.xml (EX-101.LAB) — 388KB
• zyxi-20240331_pre.xml (EX-101.PRE) — 344KB
• zyxi-20240331x10q_htm.xml (XML) — 1010KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Income for the three months ended March 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 6 Unaudited Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

—OTHER INFORMATION

PART II—OTHER INFORMATION 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS ZYNEX, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT NUMBER OF SHARES) March 31, 2024 December 31, (unaudited) 2023 ASSETS Current assets: Cash and cash equivalents $ 32,861 $ 44,579 Accounts receivable, net 25,439 26,838 Inventory, net 15,476 13,106 Prepaid expenses and other 4,213 3,332 Total current assets 77,989 87,855 Property and equipment, net 3,234 3,114 Operating lease asset 11,857 12,515 Finance lease asset 537 587 Deposits 409 409 Intangible assets, net of accumulated amortization 7,932 8,158 Goodwill 20,401 20,401 Deferred income taxes 3,866 3,865 Total assets $ 126,225 $ 136,904 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses 10,325 8,433 Operating lease liability 3,881 3,729 Finance lease liability 183 196 Income taxes payable 637 633 Accrued payroll and related taxes 6,729 5,541 Total current liabilities 21,755 18,532 Long-term liabilities: Convertible senior notes, less issuance costs 57,839 57,605 Operating lease liability 13,184 14,181 Finance lease liability 347 457 Total liabilities 93,125 90,775 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 100,000,000 shares authorized; 42,048,385 issued and 31,879,892 outstanding as of March 31, 2024. 41,980,166 issued and 32,933,776 outstanding as of December 31, 2023. 32 33 Additional paid-in capital 91,259 90,878 Treasury stock of 9,666,879 and 8,545,044 shares at March 31, 2024 and December 31, 2023, respectively, at cost ( 84,981 ) ( 71,562 ) Retained earnings 26,790 26,780 Total stockholders' equity 33,100 46,129 Total liabilities and stockholders' equit

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View this 10-Q filing on SEC EDGAR