Zynex Reports Fourth Quarter and Full Year 2024 Financial Results

PR Newswire03-11

ENGLEWOOD, Colo., March 11, 2025 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2518708375?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2025-03-12 04:08","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2518708375","market":"us","top_or_hot":-1,"title":"Zynex Reports Fourth Quarter and Full Year 2024 Financial Results","media":"PR Newswire","content":"<div>\n<p>ENGLEWOOD, Colo., March 11, 2025 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain ...</p>\n\n<a href=\"https://finance.yahoo.com/news/zynex-reports-fourth-quarter-full-200800826.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zynex Reports Fourth Quarter and Full Year 2024 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZynex Reports Fourth Quarter and Full Year 2024 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-03-12 04:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/zynex-reports-fourth-quarter-full-200800826.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ENGLEWOOD, Colo., March 11, 2025 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain ...</p>\n\n<a href=\"https://finance.yahoo.com/news/zynex-reports-fourth-quarter-full-200800826.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4082","symbol_name":"医疗保健设备","start_time":0,"source_url":"https://finance.yahoo.com/news/zynex-reports-fourth-quarter-full-200800826.html","article_id":"2518708375","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/zynex-reports-fourth-quarter-full-200800826.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2518708375","pubTimestamp":1741723680,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"ENGLEWOOD, Colo., March 11, 2025 /PRNewswire/ -- Zynex, Inc. , an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring,today reported its financial and operational results for the fourth quarter and full year ended December 31, 2024.FY 2024 net revenue increased 4% to $192.4 million. \"Additionally, we completed the NiCO laser pulse oximeter human clinical trial at Duke University with positive results. The NiCO pulse oximeter utilizes highly precise laser technology to measure fractional blood oxygenation levels, compared to LED-based pulse oximeter products which have been shown to incorrectly estimate oxygen levels in several populations, most prominen","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4082":"医疗保健设备","ZYXI":"Zynex, Inc."},"translate_title":"Zynex报告2024年第四季度和全年财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ZYXI":0.6},"content_text":"ENGLEWOOD, Colo., March 11, 2025 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring, today reported its financial and operational results for the fourth quarter and full year ended December 31, 2024.\n\n  \n\nKey Highlights and Business Update\n\nFY 2024 orders increased 16% year-over-year\nFY 2024 net revenue increased 4% to $192.4 million\nFY 2024 net income of $3.0 million; Diluted EPS $0.09\nFY 2024 cash flow from operations of $12.7 million\nReceived FDA Clearance for new TensWave device\n\nManagement Commentary \n\"In the fourth quarter of 2024 we continued our steady growth in orders and delivered another year of revenue growth and profitability,\" said Thomas Sandgaard, President and CEO of Zynex. \"We generated $12.7 million of positive cash flow from operations and $10.9 million of Adjusted EBITDA in 2024.\n\"Our fourth quarter revenue was less than expected. The shortfall was due to slower than normal payments from certain payers and we were recently notified that Tricare has temporarily suspended payments as they review prior claims. We continue to be in-network and have maintained good relations with Tricare. We have a meeting with Tricare in April and believe we have good evidence to get payments reinstated.  TriCare currently represents approximately 20-25% of our annual revenue. As directed by Tricare, we continue to support both existing patients and new patients as we receive their prescriptions.\n\"Due to the temporary payment suspension and lack of clarity on the timing of a resolution, we are restructuring our staff to align with current revenue. We are decreasing our overall staff by approximately 15%, which primarily affects employees in our corporate departments. This staff reduction along with other expense reductions made during the second half of 2024 and the first quarter of 2025 will result in savings of approximately $35 million annually. Although these processes are never easy, it is critical for us to be prudent and conservative in adapting to external changes and execute these expense adjustments immediately.  We are confident that long-term, our pain management business is still solid with significant growth potential.\n\"We continue to accelerate our payer expansion and expect it to offset some of the near-term revenue challenges. Building relationships with new payers is a process, but we have been working on expansion in several areas during 2024 and expect those to start yielding results in 2025.\n\"Additionally, we completed the NiCO laser pulse oximeter human clinical trial at Duke University with positive results. The NiCO pulse oximeter utilizes highly precise laser technology to measure fractional blood oxygenation levels, compared to LED-based pulse oximeter products which have been shown to incorrectly estimate oxygen levels in several populations, most prominently in individuals with darker skin pigmentation.\n\"We maintain a flexible and healthy balance sheet and it's important to note over the past few years we have been able to buy back over $80 million worth of shares on the open market, directly increasing shareholder value.\n\"Over the long term we believe we will remain a leader of holistic, non-invasive approaches to pain management and patient monitoring and continue to pursue additional lines of revenue that improve patient outcomes and overall health,\" concluded Sandgaard.\nFourth Quarter 2024 Financial Results\nNet revenue was $46.0 million for the three months ended December 31, 2024, compared to $47.3 million in the prior year quarter.\nGross profit in the quarter ended December 31, 2024, was $36.0 million, or 78% of revenue, as compared to $37.0 million or 78% of revenue, in 2023.\nSales and marketing expense for the three months ended December 31, 2024, decreased 11% to $19.3 million from $21.7 million for the same period in 2023, primarily due to decreased headcount in the sales force.\nGeneral and administrative expenses for the three months ended December 31, 2024, were $17.3 million, versus $13.0 million in the prior year period.\nNet loss for the three months ended December 31, 2024, totaled ($0.6) million, or ($0.02) per basic and diluted share, as compared to net income of $1.2 million, or $0.04 per basic and diluted share, in the quarter ended December 31, 2023.\nAdjusted EBITDA for the three months ended December 31, 2024, was $0.6 million, as compared to $9.9 million in the quarter ended December 31, 2023.\nCash flows from operations for the three months ended December 31, 2024, was $2.4 million. As of December 31, 2024, the Company had working capital of $58.3 million. Cash and cash equivalents were $39.6 million at December 31, 2024, up 5% from September 30, 2024.\nFull Year 2024 Financial Results\nNet revenue was $192.4 million for the year ended December 31, 2024, a 4% increase compared to $184.3 million in 2023.\nGross profit in the year ended December 31, 2024, was $152.9 million, or 80% of revenue, as compared to $146.0 million or 79% of revenue, in 2023.\nSales and marketing expense for the year ended December 31, 2024, decreased slightly to $86.6 million from $86.7 million for 2023, primarily due to decreased headcount in the sales force.\nGeneral and administrative expenses for the year ended December 31, 2024, were $60.4 million, versus $48.5 million in the prior year.\nNet income for the year ended December 31, 2024, totaled $3.0 million, or $0.09 per basic and diluted share, as compared to net income of $9.7 million, or $0.27 per basic and diluted share, in 2023.\nAdjusted EBITDA for the year ended December 31, 2024, was $10.9 million, as compared to $22.3 million in the year ended December 31, 2023.\nCash flows from operations for the year ended December 31, 2024, was $12.7 million and $17.8 million for the year ended December 31, 2023.\nFirst Quarter 2025 Guidance\nThe Company expects Q1 2025 net revenue of at least $30 million. Loss per share is expected to be ($0.30) per share or better. The Company expects quarterly revenues to increase throughout the year with the usual seasonality typically experienced. The reduction in expenses which were undertaken throughout the second half of 2024 and more aggressively during Q1 2025 will show a significant impact on the bottom line in Q2 and going forward.\nConference Call and Webcast Details\nTuesday, March 11, 2025, at 4:15 PM Eastern Time (2:15 PM Mountain Time)To register and participate in the webcast, interested parties should click on the following link or dial in approximately 10-15 minutes prior to the webcast: 4Q 2024 Webcast LinkU.S. & Canada dial-in number: 800-836-8184International number: 646-357-8785\nNon-GAAP Financial Measures\nZynex reports its financial results in accordance with accounting principles generally accepted in the U.S. (GAAP). In addition, the Company is providing in this news release financial information in the form of Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, other income/expense, stock compensation, restructuring, receivables adjustment and non-cash lease charges). Management believes these non-GAAP financial measures are useful to investors and lenders in evaluating the overall financial health of the Company in that they allow for greater transparency of additional financial data routinely used by management to evaluate performance. Adjusted EBITDA can be useful for investors or lenders as an indicator of available earnings. Non-GAAP financial measures should not be considered in isolation from, or as an alternative to, the financial information prepared in accordance with GAAP.\nSafe Harbor Statement\nThis press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, as amended. our results of operations and the plans, strategies and objectives for future operations; the timing and scope of any potential stock repurchase; and other similar statements.\nWords such as \"anticipate,\" \"believe,\" \"continue,\" \"could,\" \"designed,\" \"endeavor,\" \"estimate,\" \"expect,\" \"intend,\" \"may,\" \"might,\" \"plan,\" \"potential,\" \"predict,\" \"project,\" \"seek,\" \"should,\" \"target,\" \"preliminary,\" \"will,\" \"would\" and similar expressions are intended to identify forward-looking statements. The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company makes no express or implied representation or warranty as to the completeness of forward-looking statements or, in the case of projections, as to their attainability or the accuracy and completeness of the assumptions from which they are derived. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain CE marking of new products; the acceptance of new products as well as existing products by doctors and hospitals, larger competitors with greater financial resources; the need to keep pace with technological changes; our dependence on the reimbursement for our products from health insurance companies; our dependence on fourth party manufacturers to produce our products on time and to our specifications' implementation of our sales strategy including a strong direct sales force, the impact of COVID-19 on the global economy; market conditions; the timing, scope and possibility that the repurchase program may be suspended or discontinued; economic factors, such as interest rate fluctuations; and other risks described in our filings with the Securities and Exchange Commission.\nThese and other risks are described in our filings with the Securities and Exchange Commission including but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2024, as well as our quarterly reports on Form 10-Q and current reports on Form 8-K. Any forward-looking statements contained in this press release represent Zynex's views only as of today and should not be relied upon as representing its views as of any subsequent date. Zynex explicitly disclaims any obligation to update any forward-looking statements, except to the extent required by law.\nAbout Zynex, Inc.\nZynex, founded in 1996, develops, manufactures, markets, and sells medical devices used for pain management and rehabilitation as well as non-invasive fluid, sepsis, and laser-based pulse oximetry monitoring systems for use in hospitals. For additional information, please visit: www.zynex.com.\nInvestor Relations Contact:Brian Prenoveau, CFAMZ Group – MZ North AmericaZYXI@mzgroup.us+561 489 5315\n\n\n\n\nZYNEX, INC. \n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS \n\n\n(AMOUNTS IN THOUSANDS) \n\n\n(unaudited) \n\n\n\n\n\n\n\nDecember 31,  \n\nDecember 31,  \n\n\n\n\n2024 \n\n2023 \n\n\nASSETS \n\n\n\n\n\n\n\n\nCurrent assets: \n\n\n\n\n\n\n\n\nCash and cash equivalents \n\n$ \n39,631 \n\n$ \n44,579 \n\n\nAccounts receivable, net \n\n\n18,022 \n\n\n26,838 \n\n\nInventory, net \n\n\n13,919 \n\n\n13,106 \n\n\nPrepaid expenses and other \n\n\n3,607 \n\n\n3,332 \n\n\nTotal current assets \n\n\n75,179 \n\n\n87,855 \n\n\n\n\n\n\n\n\n\n\n\nProperty and equipment, net \n\n\n3,084 \n\n\n3,114 \n\n\nOperating lease asset \n\n\n9,820 \n\n\n12,515 \n\n\nFinance lease asset \n\n\n1,141 \n\n\n587 \n\n\nDeposits \n\n\n408 \n\n\n409 \n\n\nIntangible assets, net of accumulated amortization                                        ‍ \n\n\n7,247 \n\n\n8,158 \n\n\nGoodwill \n\n\n20,401 \n\n\n20,401 \n\n\nDeferred income taxes \n\n\n4,799 \n\n\n3,865 \n\n\nTotal assets \n\n$ \n122,079 \n\n$ \n136,904 \n\n\n\n\n\n\n\n\n\n\n\nLIABILITIES AND STOCKHOLDERS' EQUITY \n\n\n\n\n\n\n\n\nCurrent liabilities: \n\n\n\n\n\n\n\n\nAccounts payable and accrued expenses \n\n\n7,091 \n\n\n8,433 \n\n\nOperating lease liability \n\n\n4,030 \n\n\n3,729 \n\n\nFinance lease liability \n\n\n287 \n\n\n196 \n\n\nIncome taxes payable \n\n\n— \n\n\n633 \n\n\nAccrued payroll and related taxes \n\n\n5,456 \n\n\n5,541 \n\n\nTotal current liabilities \n\n\n16,864 \n\n\n18,532 \n\n\nLong-term liabilities: \n\n\n\n\n\n\n\n\nConvertible senior notes, less issuance costs \n\n\n58,567 \n\n\n57,605 \n\n\nOperating lease liability \n\n\n10,151 \n\n\n14,181 \n\n\nFinance lease liability \n\n\n789 \n\n\n457 \n\n\nTotal liabilities \n\n\n86,371 \n\n\n90,775 \n\n\n\n\n\n\n\n\n\n\n\nStockholders' equity: \n\n\n\n\n\n\n\n\nCommon stock \n\n\n32 \n\n\n33 \n\n\nAdditional paid-in capital \n\n\n93,088 \n\n\n90,878 \n\n\nTreasury stock  \n\n\n(87,186) \n\n\n(71,562) \n\n\nRetained earnings \n\n\n29,774 \n\n\n26,780 \n\n\nTotal stockholders' equity \n\n\n35,708 \n\n\n46,129 \n\n\nTotal liabilities and stockholders' equity \n\n$ \n122,079 \n\n$ \n136,904 \n\n\n\n\n\n\n\n\nZYNEX, INC. \n\n\nCONDENSED CONSOLIDATED STATEMENTS OF INCOME \n\n\n(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) \n\n\n(unaudited) \n\n\n\n\n\n\nFor the  Quarter EndedDecember 31, \n\nFor the Years EndedDecember 31,  \n\n\n\n2024 \n\n2023 \n\n2024 \n\n2023 \n\n\nNET REVENUE \n\n\n\n\n\n\n\n\n\n\n\n\n\nDevices \n$ \n14,809 \n\n$ \n16,279 \n\n$ \n59,612 \n\n$ \n58,822 \n\n\nSupplies \n\n31,165 \n\n\n31,005 \n\n\n132,742 \n\n\n125,500 \n\n\nTotal net revenue \n\n45,975 \n\n\n47,284 \n\n\n192,354 \n\n\n184,322 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCOSTS OF REVENUE AND OPERATING EXPENSES \n\n\n\n\n\n\n\n\n\n\n\n\n\nCosts of revenue - devices and supplies \n\n9,983 \n\n\n10,271 \n\n\n39,429 \n\n\n38,366 \n\n\nSales and marketing \n\n19,262 \n\n\n21,677 \n\n\n86,581 \n\n\n86,659 \n\n\nGeneral and administrative \n\n17,292 \n\n\n13,038 \n\n\n60,354 \n\n\n48,517 \n\n\nTotal costs of revenue and operating expenses \n\n46,537 \n\n\n44,986 \n\n\n186,364 \n\n\n173,542 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIncome (loss) from operations \n\n(563) \n\n\n2,298 \n\n\n5,990 \n\n\n10,780 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOther income (expense) \n\n\n\n\n\n\n\n\n\n\n\n\n\nGain on disposal of assets \n\n— \n\n\n— \n\n\n19 \n\n\n39 \n\n\nChange in fair value of contingent consideration \n\n— \n\n\n(1) \n\n\n— \n\n\n2,854 \n\n\nInterest expense, net \n\n(615) \n\n\n(366) \n\n\n(2,382) \n\n\n(1,094) \n\n\nOther income (expense), net \n\n(615) \n\n\n(367) \n\n\n(2,363) \n\n\n1,799 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIncome (loss) from operations before income taxes \n\n(1,178) \n\n\n1,931 \n\n\n3,627 \n\n\n12,579 \n\n\nIncome tax expense (benefit) \n\n(563) \n\n\n716 \n\n\n633 \n\n\n2,847 \n\n\nNet income (loss) \n$ \n(615) \n\n$ \n1,215 \n\n$ \n2,994 \n\n$ \n9,732 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet income (loss) per share: \n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic \n$ \n(0.02) \n\n$ \n0.04 \n\n$ \n0.09 \n\n$ \n0.27 \n\n\nDiluted \n$ \n(0.02) \n\n$ \n0.04 \n\n$ \n0.09 \n\n$ \n0.27 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWeighted average basic shares outstanding \n\n31,885 \n\n\n33,595 \n\n\n31,941 \n\n\n35,555 \n\n\nWeighted average diluted shares outstanding \n\n32,187 \n\n\n34,013 \n\n\n32,299 \n\n\n36,142 \n\n\n\n\n\n\n\n\nZYNEX, INC. \n\n\nCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS \n\n\n(AMOUNTS IN THOUSANDS) \n\n\n(unaudited) \n\n\n\n\n\n\n\n\n\n\n\n\n\nFor the Years Ended December 31,  \n\n\n\n\n2024 \n\n2023 \n\n\nCASH FLOWS FROM OPERATING ACTIVITIES: \n\n\n\n\n\n\n\n\nNet income \n\n$ \n2,994 \n\n$ \n9,732 \n\n\nAdjustments to reconcile net income to net cash provided by operating activities: \n\n\n\n\n\n\n\n\nDepreciation \n\n\n2,901 \n\n\n2,684 \n\n\nAmortization \n\n\n1,881 \n\n\n1,536 \n\n\nNon-cash reserve charges \n\n\n— \n\n\n(91) \n\n\nStock-based compensation \n\n\n2,989 \n\n\n2,296 \n\n\nNon-cash lease expense \n\n\n(1,033) \n\n\n904 \n\n\nBenefit for deferred income taxes \n\n\n(934) \n\n\n(2,303) \n\n\nChange in fair value of contingent consideration \n\n\n— \n\n\n(2,854) \n\n\nGain on disposal of assets \n\n\n(19) \n\n\n(39) \n\n\nChange in operating assets and liabilities: \n\n\n\n\n\n\n\n\nShort-term investments \n\n\n— \n\n\n(190) \n\n\nAccounts receivable \n\n\n8,816 \n\n\n8,225 \n\n\nPrepaid and other assets \n\n\n(67) \n\n\n(1,150) \n\n\nAccounts payable and other accrued expenses \n\n\n(2,072) \n\n\n269 \n\n\nInventory \n\n\n(2,736) \n\n\n(1,445) \n\n\nDeposits \n\n\n1 \n\n\n182 \n\n\nNet cash provided by operating activities \n\n\n12,721 \n\n\n17,756 \n\n\n\n\n\n\n\n\n\n\n\nCASH FLOWS FROM INVESTING ACTIVITIES: \n\n\n\n\n\n\n\n\nPurchase of property and equipment \n\n\n(578) \n\n\n(1,206) \n\n\nPurchase of short-term investments \n\n\n— \n\n\n(9,810) \n\n\nMaturity of short-term investments \n\n\n— \n\n\n10,000 \n\n\nProceeds on sale of fixed assets \n\n\n— \n\n\n50 \n\n\nNet cash used in investing activities \n\n\n(578) \n\n\n(966) \n\n\n\n\n\n\n\n\n\n\n\nCASH FLOWS FROM FINANCING ACTIVITIES: \n\n\n\n\n\n\n\n\nPayments on finance lease obligations \n\n\n(334) \n\n\n(128) \n\n\nCash dividends paid \n\n\n(9) \n\n\n(3) \n\n\nPurchase of treasury stock \n\n\n(15,625) \n\n\n(37,924) \n\n\nExcise tax payments on net treasury stock purchases \n\n\n(473) \n\n\n— \n\n\nProceeds from issuance of convertible senior notes, net of issuance costs \n\n\n— \n\n\n57,018 \n\n\nProceeds from the issuance of common stock on stock-based awards \n\n\n22 \n\n\n86 \n\n\nPrincipal payments on long-term debt \n\n\n— \n\n\n(10,667) \n\n\nTaxes withheld and paid on employees' equity awards \n\n\n(672) \n\n\n(737) \n\n\nNet cash provided by (used in) financing activities \n\n\n(17,091) \n\n\n7,645 \n\n\n\n\n\n\n\n\n\n\n\nNet increase (decrease) in cash and cash equivalents \n\n\n(4,948) \n\n\n24,435 \n\n\nCash and cash equivalents at beginning of year \n\n\n44,579 \n\n\n20,144 \n\n\nCash and cash equivalents at end of year \n\n$ \n39,631 \n\n$ \n44,579 \n\n\n\n\n\n\n\n\nZYNEX, INC. \n\n\n\nRECONCILIATION OF GAAP TO NON-GAAP MEASURES \n\n\n\n(AMOUNTS IN THOUSANDS) \n\n\n\n(unaudited) \n\n\n\n\n\n\n\n\n For the Three Months Ended December 31,   \n\n For the Year EndedDecember 31,   \n\n\n\n\n2024 \n\n2023 \n\n2024 \n\n2023 \n\n\n\n\n Adjusted EBITDA:  \n\n\n\n\n\n\n\n\n\n\n\n Net income (loss) \n$           (615) \n\n$           1,215 \n\n$              2,994 \n\n$               9,732 \n\n\n\n\n Depreciation and Amortization*  \n503 \n\n423 \n\n1,872 \n\n1,660 \n\n\n\n\n Stock-based compensation expense  \n644 \n\n676 \n\n2,989 \n\n2,296 \n\n\n\n\n    Interest expense and other, net  \n615 \n\n366 \n\n2,363 \n\n1,055 \n\n\n\n\n    Change in value of contingent consideration  \n- \n\n1 \n\n- \n\n(2,854) \n\n\n\n\n    Non-cash lease expense **  \n- \n\n362 \n\n- \n\n1,340 \n\n\n\n\n    Non-cash receivables adjustment ***  \n- \n\n6,183 \n\n- \n\n6,183 \n\n\n\n\n    Income tax expense (benefit)   \n(563) \n\n716 \n\n633 \n\n2,847 \n\n\n\n\n Adjusted EBITDA   \n$            584 \n\n$            9,942 \n\n$             10,851 \n\n$             22,259 \n\n\n\n\n % of Net Revenue  \n1 % \n\n21 % \n\n6 % \n\n12 % \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n * Depreciation does not include amounts related to units on lease to third parties which are depreciated and included in cost of goods sold.  \n\n\n\n\n ** Amount expensed under building lease agreements in excess of cash payments due to abated rent   \n\n\n\n*** Amount of non-recurring reduction in net revenue, booked as a charge against revenue, related to slow collecting receivables from a prior period \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n View original content to download multimedia:https://www.prnewswire.com/news-releases/zynex-reports-fourth-quarter-and-full-year-2024-financial-results-302398958.html\nSOURCE Zynex, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.33.2","shortVersion":"4.33.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2518708375"}