Zynex Inc · Q4 2023 earnings

Briefing

Zynex's financial results for Q4 and full year 2023 were reported, with FY 2023 revenue increasing 17% to $184.3 million and Q4 2023 revenue decreasing 3% year-over-year to $47.3 million.

Zynex reported a decrease in revenue for Q4 2023 to $47.3 million, a 3% decrease year-over-year, due to a $6.2 million non-recurring write-off. FY 2023 revenue increased 17% year-over-year to $184.3 million. The company's net income for Q4 2023 was $1.2 million, with diluted EPS of $0.04. The Board of Directors has approved an additional $20.0 million of the Company’s common stock.

• FY 2023 revenue increased 17% year-over-year to $184.3 million; Q4 2023 revenue decreased 3% year-over-year to $47.3 million due to a $6.2 million non-recurring write-off of slow collecting receivables from a prior period which are booked as a charge against revenue.
• FY 2023 net income of $9.7 million; Diluted EPS $0.27; Q4 2023 net income of $1.2 million; Diluted EPS $0.04.
• FY 2023 orders increased 43% year-over-year; Q4 orders increased 29% year-over-year, the highest number of orders in Company history for the seventh consecutive quarter.
• Company record FY 2023 cash flow from operations of $17.8 million, a 29% year-over-year increase.

Headline financials

Revenue & EPS history

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.