Zynex, Inc. (ZYXI) research, news, and more from GeoInvesting

Company description

Fri, 11 Jul 2008 04:00:00 GMT

Zynex, Inc. (founded in 1996) engineers, manufactures, markets and sells its own design of electrotherapy medical devices in two distinct markets: standard digital electrotherapy products for pain relief and pain management; and the NeuroMove(TM) for stroke and spinal cord injury (SCI) rehabilitation. Zynex's product lines are fully developed, FDA-cleared, commercially sold, and have been developed to uphold the Company's mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain.

Research

Mon, 21 Nov 2022 12:25:44 GMT

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

Mon, 21 Feb 2022 05:00:00 GMT

June 1, 2020 marked the highest price that Zynex Inc. (NASDAQ:ZYXI) traded in the past 19 months, $27.03. It was shortly thereafter, on June 11, 2020, that Night Market Research (@NMRtweet) saw what likely appeared to them as an opportunity to strike when they released a critical report on the company titled, “Zynex: Deteriorating Fundamentals and Signs of Reimbursement Pressure.” The short seller contended that ZYXI had deteriorating profitability, looming insurance reimbursement pressure, alleged poor efficacy of its products, deductible woes and violations, investigations levied against them, and analyst estimates unrepresentative of real world circumstances facing the company.

If you rewind a little further back in time, ZYXI, specializing in pain management medical devices, was a stock that sat in our Long Disclosures Model Portfolio from June 6, 2017 to June 10, 2019, netting us a 2,175% return.

Our coverage was ironically born from a speculative turnaround scenario in which, as is often the case, we were interested in tracking the company’s return to profitability and improved balance sheet, but had yet to do further diligence.

The stock continued its ascent to its June 2020 high, without us, but we were of the opinion that it surely got way ahead of itself and were a bit uncertain of the efficacy of the company’s products, so we were happy with our returns.

The 2-year duration of ZYXI’s tenure in our Model Portfolio saw the company markedly improve its financials. Analyst price targets gradually increased as the company posted improved qoq comps and increased order flow. As we neared the closing of our coverage, we noted:

“After holding for just over two years and reaping 2000%+ gains, we have closed out our long position in Zynex, Inc.(OOTC:ZYXI) ($8.43; $273.0M market cap). We first highlighted ZYXI on June 6, 2017 when shares were trading at $0.36, disclosing our long position and adding it to our “Run to One” portfolio the same day, while the stock was trading at $0.40. The stock has had an amazing run, but at current levels we can no longer justify the valuation. We have closed out our long position and will remove the stock from all of our portfolio screens.”

Today’s analyst estimates of $20.47 (Sentieo) are more than 185% higher than ZYXI’s current price of $7.00, a price that we think might represent a “coming back down to earth” scenario, where valuation should be reassessed, even in light of a new February 17, 2022 report by Night Market Research on the company titled, “Zynex: UnitedHealthcare Terminating Contract – An Undisclosed Loss That Accounts For 50%+ EBITDA.” This time, the activist firm noted that:

“We’ve long suspected Zynex was reliant on billing UnitedHealthcare (NYSE: UNH) for excessive quantities of electrodes. When UHC recently introduced a new TENS coverage policy it appeared the insurer finally detected the impropriety but might continue to pay Zynex claims if at reduced rates. However, it appears UHC has taken decisive action to put an end to Zynex’s abusive tactics.”

Noted in a letter observed by Night Market Research, “Zynex Medical will no longer be a part of the UnitedHealthcare Network”.

On the seemingly positive side, the company also just acquired Kestrel Labs and is seeking FDA approval for CM-1600, ZYXI’s next generation fluid monitoring system and a follow-up to its already FDA cleared CM-1500 Fluid Monitoring System:

“I am thrilled to announce that we have submitted a 510(k) premarket notification to the FDA for our CM-1600. We have worked diligently at adding key enhancements to our FDA-cleared CM-1500 Fluid Monitoring System, including wireless connectivity to the non-invasive wrist wearable,” said Thomas Sandgaard, CEO. “This 510(k) submission is an important step in the evolution of our fluid monitoring system, which we believe will become a vital tool to ensure optimal fluid management and quality care for patients at risk for hemorrhagic events.”

Given the tug of war between the positive and negative, should we view the continued coverage by Night Market Research as worrisome, especially that this a material event was allegedly undisclosed to investors?

Alas, they feel that their original research was vindicated:

However, Zynex claims that there will be no material change in terms of profitability as they will just process the claims as they usually do through out-of-network claims, something they will talk about in a webcast on February 24, 2022.

After all, some investors are still bullish, especially due to other products.

You might be asking, where are we going with this?

Frankly, given the stock’s pullback, we are intrigued again, so Zynex is back on our radar so we can monitor how the company’s management handles adversity and to see if their lack of concern of losing an insurance carrier partner is warranted

Let’s get this straight, this does not mean we are putting the stock on any of our Model Portfolios, nor would we even consider this idea generation in a classic sense. This is us observing the potential for a company to address skeptics in a responsible and transparent manner. Given our past in dealing with companies who are in the crosshairs of scandals, and at times being the quarterback spearheading investigations into malfeasance, we feel we are in a unique position to call it as it is.

The stock did so well for us in the past, and we want to see if there is another window of opportunity should ZYXI successfully dispel the concerns that the loss of the major partner will cripplie its ability to mitigate this loss of revenue through other channels, as they claim they’ll be able to do.

Analyst price targets call for ZYXI to report EPS of $0.59 in 2022, $1.17 2023 and $1.89 in 2024 vs. $0.42 in 2021 (Source: Sentieo). So the stock is trading at a meager P/Es of 11.86 on 2022, 5.89 on 2023, and 3.70 on 2024 estimates. Likewise, revenue is expected to grow 63.83% to 131.26M in 2022 and then 32.32% to 173.68M in 2023, putting the 2023 P/S at only 1.08. (Source: Sentieo)

Night Market Research thinks that guidance will need to be dropped, but is this really the case? Will the UnitedHealthcare Network want to get back money for which they were supposedly overbilled, or will they have already lost their leverage and window of opportunity, being that they were originally part of Zynex’s network? Will the new acquisition dilute shareholders since more than half of it was stock-based, and how accretive will it be? How will this affect estimates?

We’ll likely have more to say as the situation unfolds, and especially after the webcast ZYXI is holding in a few days.

Research

Wed, 30 Oct 2019 19:03:36 GMT

Zynex Inc (OOTC:ZYXI) ($9.54; $293.0M market cap), a medical device company announced its Q3 2019 results:

Sales of $11.8 million vs $8.1 million in the prior year
EPS of $0.06 vs $0.08

"In the third quarter we continued our strong growth with revenue of $11.8 million and net income of $2.0 million. Orders grew 95% compared to the third quarter of 2018 and were 65% higher year to date compared to 2018.

In the third quarter, we continued to expand our sales force. We expect the addition of new sales reps to have an impact on order and revenue growth this year and going forward. In addition, we continue to invest in our infrastructure to support the increase in order volume.

We continue to advocate for pain patients, and for physicians to prescribe our NexWave technology as the first line of defense in treating chronic and acute pain without side effects. We are dedicated to promoting our technology in an effort to remove patient addiction and other side effects from prescription opioids."

Guidance:

“The estimate range for the fourth quarter revenue is between $12.3 and $12.8 million with Adjusted EBITDA between $2.3 and $2.8 million as we continue to invest in growing our sales force. The revenue estimate is approximately 32% to 37% above last year's fourth quarter revenue of $9.3 million.”

Investors should note two things that have been causing downward pressure on the stock. First, on October 22, 2019 there was a bearish article published on Seeking Alpha claiming the company is dependent on abusive pricing strategy. You can see the full article here.

On October 29, 2019, the Company announced a $50 million ATM offering, known as an At-the-Market offering, or “ATM”, under which they may offer and sell shares of common stock from time to time through a broker-dealer sales agent.

Research

Tue, 11 Jun 2019 15:29:59 GMT

Closed Out Our Long Position In ZYXI

After holding for just over two years and reaping 2000%+ gains, we have closed out our long position in Zynex, Inc.(OOTC:ZYXI) ($8.43; $273.0M market cap). We first highlighted ZYXI on June 6, 2017 when shares were trading at $0.36, disclosing our long position and adding it to our “Run to One” portfolio the same day, while the stock was trading at $0.40. The stock has had an amazing run, but at current levels we can no longer justify the valuation. We have closed out our long position and will remove the stock from all of our portfolio screens.

Research

Wed, 27 Feb 2019 05:00:00 GMT

Zynex Inc (OOTC:ZYXI) ($5.40; $174.9M market cap), a medical device company announced Q4 2018 results:

Sales of $9.3 million vs $8.1 million in the prior year
EPS of $0.08 vs $0.10 in the prior year

“We continue to invest in expanding our sales force and have recently increased the pace of adding new sales reps. We expect the addition of new sales reps to have an impact in order and revenue growth this year and going forward.”

First Quarter 2019 Guidance:

“The estimate range for the first quarter revenue is between $8.3 and $8.8 million with Adjusted EBITDA between $2.2and $2.7 million. The revenue estimate is approximately 21% to 28% above last year's first quarter revenue of $6.9 million. First quarter revenue is historically affected by health insurance deductibles not being met in the beginning of the year.”

ZYXI has been one of our best performing Run to One stocks with shares up 1400% since we first highlighted the company on June 6, 2017 when shares were trading at $0.36, disclosing our long position that same day at $0.40.

Research

Tue, 06 Nov 2018 05:00:00 GMT

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

Thu, 02 Aug 2018 14:41:17 GMT

Zynex Inc (OOTC:ZYXI) ($2.99; $97.8M market cap), a medical device company which has been one of our best performing Micro-cap Run to One performers, announced Q2 2018 results:

Sales of $7.6 million vs $5.0 million in the prior year
EPS of $0.07 vs $0.05 in the prior year

We currently estimate our third quarter revenue to range between $7.7 million and $8.2 million with Adjusted EBITDA between $2.8 million and $3.3 million. The revenue estimate is approximately 13% to 20% above last year's third quarter and the Adjusted EBITDA estimate is in line with third quarter 2017 Adjusted EBITDA of $3.1 million.

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."

In late May 2018 we added ZYXI to our Buy on Pullback Mock 7.0 portfolio as we felt shares could regain/surpass its previous highs in the near to mid term. Analyst EPS estimates for 2018 are $0.27. Applying a P/E range of 15 to 25 would equate to a price target range of $4.05 to $6.75.

Research

Mon, 21 May 2018 14:44:59 GMT

Adding ZYXI to our Buy on Pullback Mock Portfolio 7.0

Zynex Inc (OOTC:ZYXI) ($3.25; $106.0M market cap), a medical device company which has been one of our best performing Micro-cap Run to One performers will now be added to our Buy on Pullback Portfolio.

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.

At its peak, shares reached $5.50, or an increase of over 1200% from our initial long call.

Shares have since pulled back off highs, even with the company continuing to report strong quarters. On May 8, 2018 the company reported its Q1 2018 results with sales up 100% and EPS of $0.06 vs $0.01 in the prior year.

We are adding ZYXI to our Buy on Pullback Mock 7.0 portfolio as we feel shares could regain/surpass its previous highs in the near to mid term. Analyst EPS estimates for 2018 are $0.27, applying a P/E range of 15 to 25 would equate to a price target range of $4.05 to $6.75.

Research

Mon, 14 May 2018 14:57:32 GMT

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

Tue, 08 May 2018 15:37:18 GMT

Zynex Inc (OOTC:ZYXI) ($3.37; $109.3M market cap), a medical device company, announced Q1 2018 results:

Sales of $6.8 million vs $3.4 million in the prior year
EPS of $0.06 vs $0.01 in the prior year

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

Wed, 28 Feb 2018 15:23:45 GMT

Zynex Inc (OOTC:ZYXI) ($4.98; $163.6M market cap), a medical device company,announced Q4 2017 results:

Sales of $8.1 million vs $2.9 million in the prior year and ahead of analyst estimates of $7.07 million
EPS of $0.10 vs $0.01 in the prior year and ahead of analyst estimates of $0.08

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

Mon, 08 Jan 2018 17:11:32 GMT

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.

Research

Wed, 27 Dec 2017 17:17:23 GMT

Locked In Some ZYXI

Shares of ZYXI are back near 52 week highs after a two week dip to the low $2 level. We sold a portion of our position during yesterday’s trading session, locking in gains of over 600%.

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 ZYXI was one of Maj’s favorite meetings at the LD conference in the beginning of December. ZYXI has been one of our best performers of late, with shares up over 700% since our initial alert.

While we locked in some profits, we remain long.

Research

Thu, 07 Dec 2017 19:00:58 GMT

Zynex Inc (OTCQB:ZYXI) ($2.25; $73.8M market cap), a medical device company, announced a share buyback program yesterday shortly after the open, approving $2 million in buybacks. In light of management's comments from the release, we view the pullback mentioned above as a buying opportunity:

"We are committed to delivering shareholder value, and this buyback program authorization reflects the board's confidence in both our short-term prospects and our long term growth strategy. We believe that the current market value of our shares does not accurately reflect the underlying value of the Company and the buyback program represents an attractive opportunity to deploy capital in a way that will benefit stockholders."

Research

Mon, 13 Nov 2017 16:15:27 GMT

Zynex Inc (OTCQB:ZYXI) ($2.86), a medical device company announced its Q3 2017 results:

Sales of $6.8 million vs $3.6 million in the prior year and ahead of analyst estimates of $5.4 million
EPS of $0.07 vs $0.02 in the prior year and ahead of analyst estimates of $0.06
Q4 2017 guidance of $7.0 to $7.5 million well ahead of analyst estimates of $4.3 million and Adjusted EBITDA to be between $3.0 to $3.5 million. The company reported adjusted EBITDA of $3.1 million this quarter, which translated into EPS of $0.07. Assuming similar margins Q4 EPS should be $0.07 with current analyst estimates only calling for $0.02.

Quotes from management:

"I am very excited to report strong net income of $2.2 million in the third quarter which continues our trend of bottom line improvement. Our revenue grew to $6.8 million, an increase of 35% compared to the second quarter and 88% above the third quarter of last year. Our gross profit margin remained 80% versus 76% in Q3-2016. Our focus on processing orders more effectively to improve collections and cost controls to keep fixed expenses low is paying off in terms of positive cash flow and profitability.”

We first highlighted ZYXI on June 6, 2017 when shares were trading at $0.36. We disclosed our long position that same day when the stock was trading at $0.40 and added it to our Run to One Mock Portfolio. ZYXI has been one of our best performers of late, with shares up over 600% since our initial alert.

Research

Tue, 22 Aug 2017 15:04:49 GMT

ZYXI ($1.21) - Taglich Brothers initiated ZYXI with “Speculative Buy” rating and $2.30 price target. The report calls for EPS estimates of $0.14 and $0.19 for fiscal 2017 and 2018 respectively. See the full report. Shares have now tripled since our original note on June 6, 2017 when the stock was trading at $0.36. We disclosed our long position that same day when the stock was trading at $0.40 and added it to our Run to One mock portfolio.

Research

Mon, 14 Aug 2017 14:29:44 GMT

Looking to Add to Our ZYXI Long Position

Shares of $ZYXI ($0.81) have more than doubled since our original note on June 6, 2017 when shares were trading at $0.36. We disclosed our long position that same day when the stock was trading at $0.40 and added it to our Run to One mock portfolio.

Today, the Company announced blowout Q2 2017 results:

Sales $5.04 million vs $3.38 million in the prior year
EPS of $0.05 vs a loss of $0.01 in the prior year
EBITDA of $2.0 million vs a loss of $0.02 million in the prior year
Q3 guidance of $5.4 to $5.8 million and $2.0 and $2.4 million EBITDA

Quotes from management:

Our focus on processing orders better to improve collections while keeping fixed expenses minimized is paying off in terms of positive cash flow and profitability.

We were able to strengthen our balance sheet at the end of the second quarter when we paid off the entire balance on our credit facility, to which we owed $2.2 million at the end of the first quarter 2017. Not only are we now saving significant amount of interest and fees but it also provides much more flexibility for us to operate. Our increasing profitability and cash flows will allow us to invest in sales growth initiatives during the second half of 2017.

Unfortunately we have been unable to speak with ZYXI management yet. We will be on the earnings conference call later this morning to gain more clarity on the Company’s growth objectives.

Research

Fri, 14 Jul 2017 15:18:51 GMT

$ZYXI ($0.82)

Shares of ZYXI have more than doubled since our original note on June 6, 2017 when shares were trading at $0.36 and also since we disclosed our long position on June 6, 2017 when the stock was trading at $0.40. The stock’s recent uptick the last few days has been fueled by the July 6, 2017 debt repayment news in which the company announced it has fully paid off the entire remaining loan balance to Triumph Healthcare Finance. The Company also announced it expects its Q2 results to exceed previous guidance estimates. ZYXI had been on track to report $0.04 to $0.06 EPS for fiscal 2017. You can see our complete coverage here. We have been unable to secure an interview with management, but plan to do so in the near term to determine if the Company’s growth trajectory can continue into fiscal 2018.

Deal Flow

Thu, 06 Jul 2017 04:00:00 GMT

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."

Research

Tue, 06 Jun 2017 16:07:19 GMT

Established Speculative Long Position in ZYXI ($0.40)

On June 2, 2017 we stated we were taking a closer look at this medical device company due to its Q1 2017 results. We have established a starter speculative position and plan to interview management to obtain a better understanding of the Company’s full product offerings, FDA clearances and insurance reimbursement offerings.

Research

Fri, 02 Jun 2017 14:13:11 GMT

ZYXI ($0.36) is an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics. We are taking a closer look at the Company due to the Company’s Q1 2017 results. While sales were flat for the quarter, the Company turned profitable vs a loss in the prior year at the same sales levels due to lowering fixed cost expenses. The company believes this trend will continue throughout 2017. First quarter 2017 results:

Sales of $3.4 million vs $3.4 million in the prior year
EPS of $0.01 vs loss of $0.01 in the prior year

Quotes from the release:

"We received financing of $1 million towards the end of the first quarter which has been extremely helpful in terms of building enough products to keep up with sales orders and now providing our sales force with demonstration units. We are also experiencing a significant improvement in cash collections as a result of improved billing efforts and are streamlining our infrastructure to accommodate further growth in orders. Sales order growth had been limited the past couple of quarters due to cash constraints and not having any availability to borrow under our line of credit. We continue to reduce the balance on our line of credit and the balance at the end of April 2017 was $1.9 million, down from $2.7 million at the beginning of the year.

Q2 2017 Guidance:

Sales of $3.8 million
Net income of $500,000 (Q1 was $478,000)
EBITDA of $650,000 (Q1 was $580,000)

Long term goals:

"Our long term goals continue to be taking advantage of the huge void in the electrotherapy industry realizing annual revenue in excess of $250 million, a listing of a national stock exchange and also launching our Blood Volume Monitor into the hospital market for non-invasively detecting blood loss and internal bleeding."

Full year 2017 guidance (only given on conference call)

Sales of $15 million and EBITDA over $2 million

We need to take a closer look at the company’s full product offerings and FDA clearances as well as insurance reimbursement offerings.