BUZZ-Zynex falls on lower Q4 revenue

Reuters03-11

** Shares of medtech co Zynex ZYXI.O fall 14.7% to $5.97 aftermarket

** Reports Q4 net revenue of $46 mln compared to $47.3 mln a year ago

** Says that the revenue shortfall was due to slower-than-normal payments from certain payers as well as a temporary suspension of payments from healthcare service provider Tricare

** Co says TriCare represents about 20%-25% of annual revenue

** Says due to the temporary payment suspension, co is cutting jobs by about 15%

** The staff reduction along with other expense reductions will result in savings of about $35 mln annually — ZYXI

** Co expects Q1 2025 net revenue of at least $30 mln vs estimates of $53.5 mln — LSEG data

** Stock has fallen 26.5% in 2024

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com))

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