To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...

PresentationGood morning, ladies and gentlemen, and thank you for standing by. Welcome to the Zynex Third Quarter 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to Vikram Bajaj, Chief Financial Officer of Zynex. Please go ahead.Vikram BajajChief Financial Officer Thank you, operator, and good afternoon, everyone. Yesterday, we released financial results for the third quarter September 30, 2025. A copy of t ...

Zynex (NasdaqGS:ZYXI) Q3 2025 Earnings Call November 18, 2025 09:00 AM ET Company ParticipantsStephen Dyson - CEOVikram Bajaj - CFOOperatorGood morning, ladies and gentlemen, and thank you for standing by. Welcome to the Zynex third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded. I would now like to turn the conference over to Vikram Bajaj, Chief Financial Officer of Zynex. Please go ahead.Vikram BajajThank yo ...

Zynex (NasdaqGS:ZYXI) Q3 2025 Earnings Call November 18, 2025 09:00 AM ET Company ParticipantsStephen Dyson - CEOVikram Bajaj - CFOOperatorGood morning, ladies and gentlemen, and thank you for standing by. Welcome to the Zynex third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded. I would now like to turn the conference over to Vikram Bajaj, Chief Financial Officer of Zynex. Please go ahead.Vikram BajajThank yo ...

Zynex (NasdaqGS:ZYXI) Q3 2025 Earnings Call November 18, 2025 09:00 AM ET Speaker2Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Zynex third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded. I would now like to turn the conference over to Vikram Bajaj, Chief Financial Officer of Zynex. Please go ahead.Speaker1Thank you, Operator, and good afternoon, everyone. Yesterday, we rele ...

Zynex, Inc. (NASDAQ: ZYXI) Faces Financial Challenges Despite New Management's EffortsZynex, Inc. (NASDAQ: ZYXI) is a prominent player in the medical technology sector, specializing in non-invasive devices for pain management and rehabilitation. Based in Englewood, Colorado, Zynex is navigating a transformative phase under new management since August 2025. The company is focused on overcoming business challenges and enhancing its financial health.On November 17, 2025, Zynex reported its earnings, revealing ...

Revenue Performance - Net revenue decreased by $36.6 million or 73% to $13.4 million for the three months ended September 30, 2025, compared to $50.0 million for the same period in 2024[168] - For the nine months ended September 30, 2025, net revenue decreased by $84.2 million or 57% to $62.2 million from $146.4 million in the same period in 2024[168] - Device revenue decreased by $7.8 million or 53% to $7.1 million for the three months ended September 30, 2025, from $14.9 million for the same period in 2024[176] - Device revenue decreased by $14.8 million or 33% to $30.0 million for the nine months ended September 30, 2025, from $44.8 million for the same period in 2024[176] - Supplies revenue decreased by $28.8 million or 82% to $6.3 million for Q3 2025, and by $69.3 million or 68% to $32.2 million for the nine months ended September 30, 2025[178] Operational Challenges - Device orders decreased by 35% and 20% for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024[168] - The decrease in supplies revenue was significantly impacted by the Tricare payment suspension, resulting in a $13.3 million decline for Q3 2025[179] - Device revenue declined by approximately $2.0 million (from the same period in 2024) due to a temporary Tricare payment suspension and workforce reductions[177] Financial Position - Cash used in operating activities was $23.0 million during the nine months ended September 30, 2025, compared to cash provided by operating activities of $10.3 million during the same period in 2024[169] - Working capital deficit was $41.8 million as of September 30, 2025, compared to working capital of $58.3 million as of December 31, 2024[169] - As of September 30, 2025, the company had $13.3 million in cash and cash equivalents and $6.7 million in net accounts receivable[192] Expenses and Impairments - The company recognized pre-tax non-cash asset impairment charges of $30.7 million during the quarter ended September 30, 2025, primarily related to goodwill and certain fixed assets associated with Zynex Monitoring Solutions[154] - Cost of revenue for devices and supplies decreased by $4.9 million or 48% to $5.3 million for Q3 2025, but as a percentage of revenue, it increased to 40% from 20%[180] - General and administrative expenses decreased by $3.5 million or 23% to $11.8 million for Q3 2025, with the percentage of revenue increasing to 88% from 31%[186] - The company recorded non-cash impairment charges totaling $30.7 million during Q3 2025 related to its ZMS subsidiary[189] Net Loss and Default Risk - The company has incurred net losses of $73.3 million for the nine months ended September 30, 2025, compared to net income of $3.6 million during the same period in 2024[198] - The company has not made an interest payment of approximately $1.5 million due on November 15, 2025, which could lead to an event of default[201] Workforce and Severance - The company expects to incur aggregate pre-tax cash severance charges of approximately $0.7 million in the fourth quarter of 2025 due to workforce reductions[154] - Tricare historically represented approximately 20-25% of the company's annual revenue, with cash collections from Tricare amounting to $48.8 million and $38.8 million for the years ended December 31, 2024 and 2023, respectively[165]

Financial Performance - Net revenue for Q3 2025 was $13.4 million, a decline of 73% compared to $50.0 million in Q3 2024, primarily due to Tricare payment suspension and a $2.8 million revenue reduction during the suspension period[6] - Gross profit for the quarter was $8.1 million, representing 60% of revenue, down from $39.8 million or 80% of revenue in Q3 2024[7] - Net loss for Q3 2025 totaled ($42.9) million, or ($1.42) per share, significantly impacted by a non-cash asset impairment charge of $30.7 million[9] - Adjusted EBITDA loss for Q3 2025 was ($12.3) million, compared to an Adjusted EBITDA of $5.1 million in Q3 2024[10] - Total net revenue for Q3 2025 was $13,360,000, a decrease of 73% compared to $49,966,000 in Q3 2024[20] - Net income (loss) for the nine months ended September 30, 2025, was $(73,343,000), compared to $3,609,000 for the same period in 2024[21] - Adjusted EBITDA for Q3 2025 was $(12,343,000), representing -92% of net revenue, compared to 10% in Q3 2024[23] - Total costs of revenue and operating expenses for Q3 2025 were $57,322,000, an increase from $46,164,000 in Q3 2024[20] Cash Flow and Assets - Cash flow from operations for Q3 2025 was ($6.3) million, with total cash and cash equivalents at $13.3 million as of September 30, 2025[10] - Cash and cash equivalents at the end of Q3 2025 were $13,259,000, down from $37,630,000 at the end of Q3 2024[21] - Total current assets decreased to $37.0 million as of September 30, 2025, down from $75.2 million at the end of 2024[19] Liabilities and Debt - Total liabilities increased to $86.7 million as of September 30, 2025, compared to $86.4 million at the end of 2024[19] - Zynex has entered a 30-day grace period and will not make a $1.5 million interest payment on its $60 million Convertible Notes due in May 2026[4] - The company incurred interest expense of $890,000 in Q3 2025, compared to $625,000 in Q3 2024[20] Revenue Breakdown - Devices revenue for Q3 2025 was $7,057,000, down from $14,858,000 in Q3 2024[20] - Supplies revenue for Q3 2025 was $6,303,000, compared to $35,108,000 in Q3 2024[20] Expenses - Sales and marketing expenses decreased by 54% to $9.5 million from $20.7 million in Q3 2024, primarily due to reduced sales force headcount[8] - The company reported impairment charges of $30,740,000 for the nine months ended September 30, 2025[20] Strategic Initiatives - The company has engaged Province, LLC to evaluate strategic alternatives, including potential capital raising and restructuring strategies[3] Shareholder Information - Weighted average basic shares outstanding decreased to 30,314,000 in Q3 2025 from 31,775,000 in Q3 2024[20]

Accessibility StatementSkip Navigation ENGLEWOOD, Colo., Nov. 17, 2025 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, and rehabilitation, today reported its financial and operational results for the third quarter ended September 30, 2025. Management Commentary and Recent Events "Since joining the Company in August, the new management team has worked tirelessly to address the ...

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...