NASDAQ$ZYXIQ
Zynex Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Zynex's first quarter results for 2024 were released, revealing a 10% increase in revenue year-over-year, reaching $46.5 million, despite underperforming guidance due to delayed insurer payments, with net income at $10,000 and diluted EPS at $0.00.
Zynex reported a 10% increase in revenue for Q1 2024, reaching $46.5 million, although it underperformed guidance due to delayed insurer payments. Net income was $10,000, with diluted EPS at $0.00. The company reaffirmed its 2024 revenue guidance of at least $227 million, driven by order growth and new product introductions.
- Q1 2024 revenue increased 10% year-over-year to $46.5 million, but underperformed guidance due to delayed insurer payments from a cyber incident.
- Q1 2024 net income was $10,000, with diluted EPS at $0.00.
- Orders increased 23% year-over-year, marking the highest number of orders in Company history for the eighth consecutive quarter.
- Company reaffirms 2024 revenue guidance of at least $227 million.
Headline financials
Revenue & EPS history
Zynex · Revenue · Quarterly
$46.5M
Revenue by segment
Zynex · $49.9M total across 2 segments · Q3 2023
- Supplies$33.1M—66.2%
- Devices$16.9M—33.8%
Forward guidance
Second quarter 2024 revenue is estimated to be at least $52.0 million, an increase of approximately 16% from Q2 2023. Second quarter Diluted EPS is estimated to be at least $0.08. The Company expects 2024 net revenue of at least $227 million, a 23% increase from 2023. Diluted EPS is expected to be at least $0.50 per share, an 85% increase compared to 2023.
Tailwinds
- Second quarter 2024 revenue is estimated to be at least $52.0 million, an increase of approximately 16% from Q2 2023.
- Second quarter Diluted EPS is estimated to be at least $0.08.
- The Company expects 2024 net revenue of at least $227 million, a 23% increase from 2023.
- Diluted EPS is expected to be at least $0.50 per share, an 85% increase compared to 2023.
- Innovative new products and aggressive promotion from an expanding direct salesforce are diversifying revenue streams and ensuring sustained growth.
Headwinds
- Revenue underperformed guidance of $47.5 million due to payments from a number of insurers being delayed due to a cyber incident.
- Approximately $1.0 million in revenue for the quarter was impacted by payments from a large number of insurers being delayed due to a cyber incident which impacted payers industry-wide.
- FDA 510(k) submission for NiCO is now tracking to the second half of 2024.
- Net income for the three months ended March 31, 2024, totaled $10,000, or $0.00 per basic and diluted share, as compared to net income of $1.6 million, or $0.04 per basic and diluted share, in the quarter ended March 31, 2023.
- Payments from a number of insurers being delayed due to a cyber incident which impacted healthcare payers industry-wide.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2024
+0.4%
Avg return
Earnings day
-1.8%
Avg return
5 days after
-6.5%
Avg return
30 days after
46%
29 / 63 earnings
Positive
+38.5%
Q3 2014
Best reaction
-51.6%
Q1 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2024 | -51.3% | — | — | |
| Q3 2025 | +0.0% | +0.0% | -98.2% | |
| Q2 2025 | +0.0% | +0.0% | +0.0% | |
| Q1 2025 | -25.6% | +0.0% | +0.0% | |
| Q3 2024 | +9.1% | +0.0% | +0.0% | |
| Q2 2024 | -11.4% | +0.0% | +0.0% | |
| Q1 2024 | +2.8% | +0.0% | +0.0% | |
| Q4 2023 | -8.8% | +0.0% | +0.0% | |
| Q3 2023 | +17.5% | +0.0% | +0.0% | |
| Q2 2023 | +3.3% | +0.0% | +0.0% | |
| Q1 2023 | +2.5% | +0.0% | +0.0% | |
| Q4 2022 | +16.7% | +0.0% | +0.0% | |
| Q3 2022 | +15.0% | +0.0% | +0.0% | |
| Q2 2022 | +13.3% | +0.0% | +0.0% | |
| Q1 2022 | -8.6% | +0.0% | +0.0% | |
| Q4 2021 | -1.7% | +0.0% | +0.0% | |
| Q3 2021 | +10.0% | +0.0% | +0.0% | |
| Q2 2021 | -19.3% | +0.0% | +0.0% | |
| Q1 2021 | -9.2% | -12.0% | -6.3% | |
| Q4 2020 | -21.2% | -22.4% | -18.8% | |
| Q3 2020 | -6.5% | — | — | |
| Q2 2020 | -6.0% | — | — | |
| Q1 2020 | -1.1% | — | — | |
| Q4 2019 | +3.1% | — | — | |
| Q3 2019 | -7.9% | — | — | |
| Q2 2019 | +9.8% | — | — | |
| Q1 2019 | +7.9% | — | — | |
| Q4 2018 | -11.1% | — | — | |
| Q3 2018 | +3.4% | — | — | |
| Q2 2018 | -3.3% | — | — | |
| Q1 2018 | +4.5% | — | — | |
| Q4 2017 | -20.7% | — | — | |
| Q3 2017 | +6.6% | — | — | |
| Q2 2017 | +34.6% | — | — | |
| Q1 2017 | -5.6% | — | — | |
| Q4 2016 | +9.7% | — | — | |
| Q3 2016 | +23.1% | — | — | |
| Q2 2016 | +34.8% | — | — | |
| Q1 2016 | +0.0% | — | — | |
| Q4 2015 | +0.0% | — | — | |
| Q3 2015 | -4.3% | — | — | |
| Q2 2015 | -5.4% | — | — | |
| Q4 2014 | +0.0% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q3 2014 | +38.5% | — | — | |
| Q2 2014 | +2.2% | — | — | |
| Q1 2014 | -0.2% | — | — | |
| Q4 2013 | -3.6% | — | — | |
| Q3 2013 | +13.6% | — | — | |
| Q2 2013 | +7.1% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +3.4% | — | — | |
| Q3 2012 | +5.6% | — | — | |
| Q2 2012 | -5.1% | — | — | |
| Q1 2012 | -6.3% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2010 | +12.9% | — | — | |
| Q3 2011 | +12.9% | — | — | |
| Q2 2011 | +1.1% | — | — | |
| Q1 2011 | -8.2% | — | — | |
| Q4 2010 | +0.0% | — | — | |
| Q2 2010 | +2.0% | — | — | |
| Q1 2010 | -51.6% | — | — |
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