The following is a summary of the Zynex, Inc. (ZYXI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Zynex reported a 10% increase in Q1 2024 revenue year-over-year, despite slight disruptions caused by a cyber event.

• An estimated revenue of $1 million, delayed due to the cyber event, is expected to be recognized throughout 2024.

• The company reconfirmed its 2024 guidance of at least $227 million.

• Positive cash flow from operations in Q1 2024 was $2.1 million.

Business Progress:

• The company's sales team is consistently expanding, supporting the growth in earnings and revenue.

• FDA clearance has been received for the M-Wave Neuromuscular Electrical Stimulation device which has begun shipping to patients.

• Significant advancements have been seen in the monitoring division, specifically in the blood and fluid monitor technologies.

• FDA clearance was achieved for the second generation blood and fluid monitor in the previous year.

• Several products are in the pipeline, including a laser-based pulse oximeter, a sepsis detection monitor, and a total hemoglobin level monitor.

• Additional regulatory milestones are expected in 2024.

• Zynex is transitioning new prescriptions from the older E-Wave model to their M-Wave product.

• NexWave products now comprise around 27%-28% of orders.

• In 2025, the company plans to commercialize the NICO product.

• Zynex is considering the option of going private.

• Approximately $15 million remains from a previously announced $20 million share buyback plan.

More details: Zynex IR

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