Zynex(US:ZYXI)2025-03-11 20:15Revenue Performance - Fourth quarter 2024 net revenue was $46.0 million, a decrease from $47.3 million in the prior year quarter[8] - Full year 2024 net revenue increased 4% to $192.4 million compared to $184.3 million in 2023[13] - Total net revenue for Q4 2024 was $45,974 million, a decrease of 2.8% from $47,284 million in Q4 2023[26] Net Income and Earnings - Full year 2024 net income was $3.0 million, or $0.09 per share, down from $9.7 million, or $0.27 per share, in 2023[14] - Net income for the year 2024 was $2,994 million, down 69.1% from $9,732 million in 2023[28] - The company reported a loss from operations of $563 million in Q4 2024, compared to a profit of $2,298 million in Q4 2023[26] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $0.6 million, significantly lower than $9.9 million in Q4 2023[11] - Adjusted EBITDA for Q4 2024 was $584 million, representing only 1% of net revenue compared to 21% in Q4 2023[30] Cash Flow and Expenses - Cash flow from operations for the full year 2024 was $12.7 million, down from $17.8 million in 2023[15] - Cash and cash equivalents at the end of 2024 were $39,631 million, a decrease from $44,579 million at the beginning of the year[28] - Total costs of revenue and operating expenses increased to $46,537 million in Q4 2024, up 3.4% from $44,986 million in Q4 2023[26] - Sales and marketing expenses for the year 2024 were $86,581 million, nearly unchanged from $86,659 million in 2023[26] - The company incurred interest expense of $615 million in Q4 2024, compared to $366 million in Q4 2023[30] Future Outlook - The company expects Q1 2025 net revenue of at least $30 million, with a projected loss per share of ($0.30) or better[16] - Orders for FY 2024 increased by 16% year-over-year[9] - The company plans to continue focusing on new product development and market expansion strategies in the upcoming year[30] Product Development and Innovation - The company received FDA clearance for a new TensWave device in 2024[9] - The NiCO laser pulse oximeter clinical trial at Duke University yielded positive results, utilizing advanced laser technology for more accurate blood oxygenation measurement[6] Restructuring and Cost Savings - The company is restructuring its staff, reducing headcount by approximately 15%, which is expected to save about $35 million annually[4] Shareholder Information - Weighted average diluted shares outstanding decreased to 32,187 million in Q4 2024 from 34,013 million in Q4 2023[26]