Zynex Reports Q2 2024 Sales of $34M

TL;DR

ZYNEX Q2 SALES HIT $34M - HEALTHCARE TECH COMPANY SHOWS REVENUE GROWTH.

AI Summary

Zynex Inc. reported its second quarter 2024 results, with net sales for the three months ended June 30, 2024, reaching $34.0 million. The company's fiscal year ends on December 31st, and this 10-Q filing covers the period up to June 30, 2024. Zynex Inc. is incorporated in Nevada and operates in the electromedical and electrotherapeutic apparatus industry.

Why It Matters

This filing provides investors with the latest financial performance data for Zynex Inc., crucial for understanding the company's revenue generation and operational status in the second quarter of 2024.

Risk Assessment

Risk Level: medium — The filing mentions supplier concentration risk, indicating potential vulnerabilities in the supply chain that could impact operations.

Key Numbers

• $34.0M — Net Sales (Q2 2024 revenue)
• 20240630 — Reporting Period End (End of the second quarter of 2024)
• 20240725 — Filing Date (Date the 10-Q was submitted)

Key Players & Entities

• ZYNEX INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• $34.0 million (dollar_amount) — Net Sales for Q2 2024
• 20240725 (date) — Filing Date
• NV (state) — State of Incorporation

FAQ

Key Financial Figures

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

Filing Documents

• zyxi-20240630x10q.htm (10-Q) — 1431KB
• zyxi-20240630xex31d1.htm (EX-31.1) — 14KB
• zyxi-20240630xex31d2.htm (EX-31.2) — 14KB
• zyxi-20240630xex32d1.htm (EX-32.1) — 6KB
• zyxi-20240630xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-010200.txt ( ) — 6995KB
• zyxi-20240630.xsd (EX-101.SCH) — 48KB
• zyxi-20240630_cal.xml (EX-101.CAL) — 57KB
• zyxi-20240630_def.xml (EX-101.DEF) — 190KB
• zyxi-20240630_lab.xml (EX-101.LAB) — 392KB
• zyxi-20240630_pre.xml (EX-101.PRE) — 347KB
• zyxi-20240630x10q_htm.xml (XML) — 1241KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Income for the three and six months ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

—OTHER INFORMATION

PART II—OTHER INFORMATION 28 Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30

SIGNATURES

SIGNATURES 31 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) June 30, 2024 December 31, (unaudited) 2023 ASSETS Current assets: Cash and cash equivalents $ 30,896 $ 44,579 Accounts receivable, net 23,594 26,838 Inventory, net 15,390 13,106 Prepaid expenses and other 4,235 3,332 Total current assets 74,115 87,855 Property and equipment, net 3,250 3,114 Operating lease asset 11,189 12,515 Finance lease asset 785 587 Deposits 409 409 Intangible assets, net of accumulated amortization 7,705 8,158 Goodwill 20,401 20,401 Deferred income taxes 4,061 3,865 Total assets $ 121,915 $ 136,904 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses 7,882 8,433 Operating lease liability 3,930 3,729 Finance lease liability 182 196 Income taxes payable — 633 Accrued payroll and related taxes 6,244 5,541 Total current liabilities 18,238 18,532 Long-term liabilities: Convertible senior notes, less issuance costs 58,078 57,605 Operating lease liability 12,187 14,181 Finance lease liability 596 457 Total liabilities 89,099 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 June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 100,000,000 shares authorized; 42,163,221 issued and 31,725,742 outstanding as of June 30, 2024, 41,980,166 issued and 32,933,776 outstanding as of December 31, 2023 32 33 Additional paid-in capital 91,963 90,878 Treasury stock of 9,856,758 and 8,545,044 shares at June 30, 2024 and December 31, 2023, respectively, at cost ( 87,186 ) ( 71,562 ) Retained earnings 28,007 26,780 Total stockholders' equity 32,816 46,129 Total liabilities and stockholders' equity $ 121

View Full Filing

View this 10-Q filing on SEC EDGAR