Medical technology company Zynex, Inc. (NASDAQ: ZYXI) has reported its preliminary first-quarter 2022 results. The company expects to post revenues in the range of $30.5 million to $31.5 million in the quarter. It further expects adjusted EBITDA between $3 million and $4 million.
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Thomas Sandgaard, the CEO of Zynex, said, “Our Q1 2022 revenue estimate is approximately 26% higher than Q1 2021 and adjusted EBITDA is estimated to increase approximately 900% year-over-year.”
Meanwhile, the company has reaffirmed its guidance for full-year 2022. It continues to expect revenue in the range of $150 million to $170 million and adjusted EBITDA between $25 million and $35 million.
Following the announcement, shares of ZYXI declined 1.6% on Friday to close at $6.08.
About Zynex
Based out of Colorado, Zynex design, manufacture and sells medical devices. It offers electrotherapy medical devices used for pain management and rehabilitation. The company is developing non-invasive patient fluid, pulse oximetry and sepsis monitoring systems.
Stock Rating
Overall, the stock has a Moderate Buy consensus rating based on two Buys and one Hold. ZYXI’s average price target of $12.33 implies 102.8% upside potential. Shares have lost nearly 56% over the past year.
Conclusion
Zynex is scheduled to release its first-quarter results on May 3. The company managed to surpass expectations in all quarters of Fiscal 2021. If the trend continues in the first quarter as well, the stock is likely to receive a boost.
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