Zynex (NASDAQ: ZYXI) reported its Q4 and full-year 2024 financial results, showing mixed performance. Full-year 2024 highlights include a 4% revenue increase to $192.4 million, net income of $3.0 million (EPS $0.09), and operating cash flow of $12.7 million.
However, Q4 2024 showed challenges with revenue declining to $46.0 million from $47.3 million year-over-year, resulting in a net loss of ($0.6) million. A significant development is Tricare's temporary payment suspension, affecting 20-25% of annual revenue. In response, Zynex is implementing a 15% staff reduction and other cost-cutting measures, expected to save approximately $35 million annually.
The company received FDA clearance for its new TensWave device and completed positive clinical trials for the NiCO laser pulse oximeter at Duke University. For Q1 2025, Zynex projects revenue of at least $30 million with an expected loss per share of ($0.30) or better.
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