Zynex Inc. Files 10-Q for Q3 2024

TL;DR

**ZYNEX 10-Q FILED: Q3 2024 financials are in. Check Englewood, CO HQ.**

AI Summary

Zynex Inc. filed its 10-Q for the period ending September 30, 2024. The company, incorporated in Nevada, operates in the electromedical apparatus sector. Key financial data and business addresses are provided, with the company's headquarters located in Englewood, Colorado.

Why It Matters

This filing provides investors with the latest financial performance and operational details of Zynex Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but specific risks related to supplier concentration and accounts receivable are mentioned, warranting a medium risk assessment.

Key Numbers

• 3845 — Standard Industrial Classification (Electromedical & Electrotherapeutic Apparatus)
• 1231 — Fiscal Year End (Indicates the end of the company's annual reporting cycle.)

Key Players & Entities

• ZYNEX INC (company) — Filer
• Englewood, Colorado (location) — Business Address
• 9655 Maroon Circle (location) — Business Address Street
• 20240930 (date) — Period of Report
• 20241024 (date) — Filing Date

FAQ

Key Financial Figures

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

Filing Documents

• zyxi-20240930x10q.htm (10-Q) — 1507KB
• zyxi-20240930xex31d1.htm (EX-31.1) — 14KB
• zyxi-20240930xex31d2.htm (EX-31.2) — 15KB
• zyxi-20240930xex32d1.htm (EX-32.1) — 6KB
• zyxi-20240930xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-013642.txt ( ) — 7211KB
• zyxi-20240930.xsd (EX-101.SCH) — 49KB
• zyxi-20240930_cal.xml (EX-101.CAL) — 56KB
• zyxi-20240930_def.xml (EX-101.DEF) — 196KB
• zyxi-20240930_lab.xml (EX-101.LAB) — 399KB
• zyxi-20240930_pre.xml (EX-101.PRE) — 354KB
• zyxi-20240930x10q_htm.xml (XML) — 1285KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 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 29

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 PER SHARE DATA) September 30, 2024 December 31, (unaudited) 2023 ASSETS Current assets Cash and cash equivalents $ 37,630 $ 44,579 Accounts receivable, net 21,623 26,838 Inventory, net 15,708 13,106 Prepaid expenses and other 3,389 3,332 Total current assets 78,350 87,855 Property and equipment, net 3,169 3,114 Operating lease asset 10,510 12,515 Finance lease asset 1,215 587 Deposits 409 409 Intangible assets, net of accumulated amortization 7,476 8,158 Goodwill 20,401 20,401 Deferred income taxes 4,529 3,865 Total assets $ 126,059 $ 136,904 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 9,282 $ 8,433 Operating lease liability 3,979 3,729 Finance lease liability 284 196 Income taxes payable 390 633 Accrued payroll and related taxes 5,933 5,541 Total current liabilities 19,868 18,532 Convertible senior notes, less issuance costs 58,320 57,605 Operating lease liability 11,175 14,181 Finance lease liability 923 457 Total liabilities 90,286 90,775 Commitments and contingencies (Note 15) Stockholders' equity Preferred stock, $ 0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 100,000,000 shares authorized; 42,204,300 issued and 31,840,092 outstanding as of September 30, 2024, 41,980,166 issued and 32,933,776 outstanding as of December 31, 2023 32 33 Additional paid-in capital 92,538 90,878 Treasury stock of 9,856,758 and 8,545,044 shares at September 30, 2024 and December 31, 2023, respectively, at cost ( 87,186 ) ( 71,562 ) Retained earnings 30,389 26,780 Total stockholders' equity 35,773 46,129 Total liabilities and stockholders' eq

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View this 10-Q filing on SEC EDGAR