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Zynex
(NASDAQ:ZYXI)
Zynex (ZYXI) vs. SPDR S&P 500 ETF (SPY)
Zynex Business Overview & Revenue Model
Zynex Earnings Call Summary
Zynex Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 108.20M | 192.35M | 184.32M | 158.17M | 130.30M | 80.12M |
| Gross Profit | 77.51M | 152.93M | 145.96M | 126.16M | 103.38M | 62.70M |
| EBITDA | -64.31M | 10.79M | 17.89M | 25.77M | 24.65M | 11.74M |
| Net Income | -73.96M | 2.99M | 9.73M | 17.05M | 17.10M | 9.07M |
Balance Sheet | ||||||
| Total Assets | 45.32M | 122.08M | 136.90M | 120.35M | 133.27M | 74.22M |
| Cash, Cash Equivalents and Short-Term Investments | 13.26M | 39.63M | 44.58M | 20.14M | 42.61M | 39.17M |
| Total Debt | 71.62M | 73.82M | 76.17M | 26.96M | 38.06M | 7.33M |
| Total Liabilities | 86.69M | 86.37M | 90.78M | 53.99M | 59.35M | 17.37M |
| Stockholders Equity | -41.37M | 35.71M | 46.13M | 66.36M | 73.92M | 56.85M |
Cash Flow | ||||||
| Free Cash Flow | -21.00M | 12.14M | 16.55M | 13.33M | 6.34M | -167.00K |
| Operating Cash Flow | -20.57M | 12.72M | 17.76M | 13.75M | 6.95M | 818.00K |
| Investing Cash Flow | -431.00K | -578.00K | -966.00K | -418.00K | -16.61M | -985.00K |
| Financing Cash Flow | -3.37M | -17.09M | 7.64M | -35.80M | 13.10M | 25.30M |
Zynex Technical Analysis
Zynex Risk Analysis
Zynex Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $8.44B | 22.64 | 11.39% | ― | 3.51% | 29.65% | |
66 Neutral | $2.87B | 14.81 | 11.29% | ― | -0.02% | -1.87% | |
56 Neutral | $1.80B | 44.56 | 25.85% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
40 Underperform | $35.55M | ― | ― | ― | -44.13% | -1719.49% | |
39 Underperform | $207.29M | ― | -184.47% | ― | -37.09% | -2639.44% |
Zynex Corporate Events
Zynex Inc. faces significant business risks due to ongoing litigation and regulatory investigations that could materially impact its financial condition and operations. The company is embroiled in a securities fraud class action and shareholder derivative actions, alleging misleading statements and breaches of fiduciary duties by its executives. Additionally, Zynex is under investigation by the SEC and various government bodies, which could lead to severe penalties or operational restrictions. These legal challenges, regardless of their outcomes, could be costly, damage the company’s reputation, and divert management’s focus, thereby adversely affecting its business prospects.
Zynex, Inc. is a medical technology company that develops, manufactures, and sells non-invasive medical devices for pain management and rehabilitation, as well as monitoring systems for hospital use. In its third-quarter 2025 financial report, Zynex revealed significant financial challenges, including a substantial decline in revenue and a net loss, attributed to payment suspensions and operational setbacks. The company’s net revenue for the quarter was $13.4 million, a sharp decrease from $50 million in the same period the previous year, primarily due to issues with Tricare payments and changes in payer claim practices. Zynex reported a net loss of $42.9 million, exacerbated by a $30.7 million non-cash asset impairment charge. The company is actively exploring strategic alternatives to address its liquidity challenges, including potential capital raising and restructuring strategies, with the assistance of financial advisory firm Province, LLC. Looking ahead, Zynex’s management remains focused on navigating its current financial difficulties and exploring strategic options to stabilize and potentially grow the company in the future.
Zynex Inc. Faces Financial Challenges Amid Revenue Decline
Zynex, Inc. has announced a delay in filing its Form 10-Q (Quarter Report) for the financial period ending September 30, 2025. The delay is primarily due to the need for additional time to finalize the financial statements and related disclosures. The company is facing substantial doubt about its ability to continue as a going concern due to insufficient cash resources. Zynex expects to file the report within the five-day grace period allowed by the SEC. Financially, the company anticipates reporting a net loss of approximately $42.9 million for the quarter, a significant decline from the previous year’s net income of $2.4 million. This downturn is attributed to a temporary Tricare payment suspension and other operational challenges. The notification was signed by Vikram S. Bajaj, the Chief Financial Officer, who assured ongoing compliance efforts.
The most recent analyst rating on (ZYXI) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Zynex stock, see the ZYXI Stock Forecast page.
Zynex, Inc. announced that Anna Lucsok resigned as Chief Commercial Officer, effective October 10, 2025, and was placed on paid leave during negotiations for her separation terms, finalized on October 27, 2025. As part of her resignation, Ms. Lucsok will receive severance payments and benefits as per her employment agreement, and the Compensation Committee approved the accelerated vesting of 60,746 unvested restricted shares, subject to compliance with her separation agreement.
The most recent analyst rating on (ZYXI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Zynex stock, see the ZYXI Stock Forecast page.
On October 7, 2025, Zynex, Inc. expanded its Board of Directors from five to six members by appointing Bret W. Wise, a seasoned executive with extensive experience in the medical device sector, as a director. Mr. Wise will also serve as Chair of the Audit Committee and participate in the Compensation and Nominating and Governance Committees. His appointment is expected to enhance Zynex’s governance and strategic oversight. Additionally, Thomas Sandgaard, who retired as CEO on August 18, 2025, continues to serve as Chair of the Board and Technology Committee, while Anna Lucsok resigned as Chief Commercial Officer, effective October 10, 2025.
The most recent analyst rating on (ZYXI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Zynex stock, see the ZYXI Stock Forecast page.
On October 1, 2025, Zynex, Inc. announced a strategic shift to seek a commercialization partner for its NiCO™ CO-Oximeter instead of pursuing independent commercialization. This decision led to the termination of most employees at Zynex Monitoring Solutions, Inc., resulting in expected cost savings and pre-tax charges, including $0.1 million for severance and up to $31.0 million for asset impairment. The company aims to continue seeking third-party commercialization opportunities, though success is not guaranteed.
The most recent analyst rating on (ZYXI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Zynex stock, see the ZYXI Stock Forecast page.
On September 16, 2025, Anna Lucsok transitioned from the role of Chief Operating Officer to Chief Commercial Officer at Zynex, Inc. While she remains an executive officer, her responsibilities for manufacturing, IT, and regulatory matters have been redistributed within the company.
The most recent analyst rating on (ZYXI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Zynex stock, see the ZYXI Stock Forecast page.