WEB NEWS Research
Zynex Inc (OOTC:ZYXI), a medical device company, announced an additional share buyback program of $10.0 million of the Company's common stock. The program will commence on November 1, 2022 and is scheduled to terminate on October 31, 2023 or when the $10.0 million buyback limit is reached.
"We are committed to driving long-term value for our shareholders and believe that the current strength of our balance sheet presents a strategic opportunity for a third buyback program," said Thomas Sandgaard, founder, and CEO of Zynex. "We've repurchased $20 million of our common stock thus far in 2022 and an additional $10 million share buyback reiterates our commitment to creating value. We believe our consistent performance and ability to maintain profitability is not reflected in Zynex's market valuation and are initiating this buyback program as an attractive opportunity to deploy capital and return value to our shareholders."
Research
Zynex Inc (OOTC:ZYXI) ($2.99; $97.8M market cap), a medical device company which has been one of our best performing microcap Run to One performers, announced Q3 2018 results:
Sales of $8.1 million vs $6.8 million in the prior year
EPS of $0.08 vs $0.07 in the prior year
Board declares special cash dividend of $0.07
Q4 revenue guidance of $8.6 to $9.1 million and adjusted EBITDA of $3.0 to $3.5 million
"We recently obtained a patent on our Blood Volume Monitor. I am very excited for this important milestone for this product that is fully developed while we are awaiting FDA clearance for the US market and CE marking for the European markets.
I am also pleased to announce that our Board of Directors has declared a special cash dividend of $0.07 per share of the Company's common stock. The dividend is payable on January 18, 2019 to shareholders of record as of January 2, 2019. The total dividend is currently estimated to be approximately $2.3 million. With our continued strong financial performance, it is appropriate to reward our shareholders for their support and confidence in the Company.
We continue to advocate for pain patients and for physicians to prescribe our NexWave technology as the first line of defense in treating chronic acute pain without side effects. We are dedicated to marketing our technology in order to remove patient addiction and other side effects from prescription opioids."
Research
Zynex Inc (OOTC:ZYXI) ($3.05; $98.9M market cap) , a medical device company, announced its board of directors approved a program to buy back an additional $2 million of the Company's common stock. The new program will commence on May 14, 2018 and is scheduled to terminate on May 13, 2019 or when the $2 million buyback limit is reached. The Company previously re-purchased 495,091 shares of its common stock under a prior buyback program from December 6, 2017 through March 6, 2018.
Research
Zynex Inc (OOTC:ZYXI) ($3.37; $109.3M market cap) , a medical device company, announced Q1 2018 results:
Quotes from management:
"I am pleased to report revenue of $6.9 million in the first quarter with net income of $1.9 million or $0.06 per share. Adjusted EBITDA was $2.0 million and the quarterly revenue was twice the revenue of the first quarter of 2017. Revenue was less than the $8.1 million recorded in the fourth quarter of 2017 due to insurance company deductibles not being met early in the year, a seasonal trend we see every year in this industry. The investment in growing our sales force has led to device order growth of 36% compared to the first quarter of 2017 and 8% growth compared to the fourth quarter of 2017.
Guidance for Q2 2018:
We currently estimate our second quarter revenue to range between $7.5 million and $8.0 million with Adjusted EBITDA between $2.5 million and $3.0 million. The revenue estimate is approximately 49% to 59% above last year's second quarter and the Adjusted EBITDA estimate is 24% to 48% above last year.
See our full coverage on ZYXI here.
Research
Zynex Inc (OOTC:ZYXI) ($4.98; $163.6M market cap) , a medical device company,announced Q4 2017 results:
Quotes from management:
"We currently estimate our first quarter revenue to range between $6.5 and $7.0 million with Adjusted EBITDA between $2.0 and $2.5 million. First quarter revenue is historically affected by health insurance deductibles not being met in the beginning of the year. The revenue estimate is approximately 89% to 104% above last year's first quarter revenue of $3.4 million."
Comments & Business Outlook
Zynex Inc (OOTC:ZYXI) ($3.15; $103.4M market cap) , a medical device company, announced Q4 and year end 2017 guidance:
“Zynex updates its Fourth Quarter Revenue Estimate to between $7.5 and $8.0 million. The previous estimate, established in November 2017 was between $7.0 and $7.5 million. The revenue in the fourth quarter of 2016 was $2.9 million and the most recent third quarter of 2017 was $6.8 million. The full year 2017 revenue is now estimated to come in between $22.8 and $23.3 million compared to $13.3 million in 2016. The company expects to file its full year and fourth quarter financials on or before March 31, 2018.”
We first highlighted ZYXI on June 6, 2017 when shares were trading at $0.36, disclosing our long position that same day when the stock was trading at $0.40 We also added it to our Run to One Mock Portfolio . On December 7, 2017 we mentioned that Maj’s meeting with ZYXI was one of his favorites at the LD conference in the beginning of December 2017. ZYXI has been one of our best performers of late, with shares up over 700% since our initial alert.
Deal Flow
ONE TREE, Colo., July 6, 2017 /PRNewswire/ -- Zynex (OTCQB: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, neurodiagnostic equipment, cardiac and blood volume monitoring, announces today that it has paid off the entire remaining loan balance to Triumph Healthcare Finance.
Thomas Sandgaard, CEO commented: "We owed Triumph $2.2 million at the end of the first quarter and improvements in our billing and collection efforts have enabled us to pay off the loan balance entirely during the second quarter. This is a huge win for the company, as we defaulted on this agreement in 2014 and have been in a forbearance agreement since then which has been a huge constraint on our operating flexibility. All of the funds used to pay off the loan were a result of cash generated from the operations of the company. Our orders were up 7% in the second quarter compared to the first quarter. As a result of the improved operating performance, we now estimate our second quarter results will exceed our previous estimate. We are in the process of closing our second quarter books and will provide as update as soon as the results are available."
