Zynex, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 05:01 pm
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Zynex, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 49.92 million compared to USD 41.52 million a year ago. Net income was USD 3.59 million compared to USD 4.87 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 0.13 a year ago.
For the nine months, revenue was USD 137.04 million compared to USD 109.36 million a year ago. Net income was USD 8.52 million compared to USD 9.6 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to USD 0.25 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to USD 0.24 a year ago.
Zynex, Inc. 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. The Companyâs devices are intended for pain management to reduce reliance on medications and provide rehabilitation and increased mobility through the utilization of non-invasive muscle stimulation, electromyography technology, interferential current, neuromuscular electrical stimulation and transcutaneous electrical nerve stimulation. The Companyâs products include Zynex Medical Products, which includes NexWave, NeuroMove, InWave, E-Wave and M-Wave; Private Labeled Supplies, which includes Electrodes and Batteries; Distributed Complementary, which includes Comfortrac/Saunders, JetStream/Pain Management Technologies, LSO Back Braces and Bracing, and Zynex Monitoring Solutions Products, which includes CM-1500, CM-1600, NiCO CO-Oximeter and HemeOx tHb Oximeter.