Zynex reports Q2 EPS (66c) with items vs. 4c last year

Q2 EPS includes a non-cash adjustement of (66c) per share. Reports Q2 revenue $22.3M, consensus $27.38M. “In Q2, we completed two transformational events. First, we appointed Steven Dyson as our new CEO. Steven brings over 25 years of experience in the medical technology sector, primarily through his leadership at Apax, a global private equity firm. Steven brings deep expertise and a proven track record in the medical sector,” said Thomas Sandgaard, Founder and CEO of Zynex (ZYXI). “Second, we submitted our NiCO laser pulse oximeter to the FDA. This submission marks a historic milestone in the evolution of pulse oximetry and a major breakthrough in our mission to improve the quality of care and patient outcomes through our patient monitoring products…We have implemented several efficiency improvements to internal operations, reallocating staff to more profitable business lines, reducing our cost of goods sold, and updating our organizational structure while driving the sales force to become more efficient and productive. These improvements will result in annualized savings of approximately $40M, most of which will take full effect in the third and fourth quarters of this year.”