Zynex(ZYXI) Prnewswire·2025-03-11 20:08Core Insights - Zynex, Inc. reported steady growth in orders and profitability for 2024, despite a revenue shortfall in Q4 due to delayed payments from certain payers, particularly Tricare, which accounts for 20-25% of annual revenue [2][3][4] - The company is restructuring its workforce, reducing staff by approximately 15% to align with current revenue, which is expected to save around $35 million annually [4][5] - Zynex completed a successful clinical trial for its NiCO laser pulse oximeter, which utilizes advanced laser technology for more accurate blood oxygenation measurements [6] Financial Performance - Q4 2024 net revenue was $46.0 million, down from $47.3 million in Q4 2023, with a gross profit of $36.0 million, maintaining a gross margin of 78% [8] - For the full year 2024, net revenue increased by 4% to $192.4 million, with a gross profit of $152.9 million, representing 80% of revenue [12] - The company reported a net loss of $0.6 million in Q4 2024, compared to a net income of $1.2 million in Q4 2023, and an adjusted EBITDA of $0.6 million, down from $9.9 million in the prior year [10][12] Operational Updates - The company is focusing on payer expansion to mitigate near-term revenue challenges, with expectations for results to materialize in 2025 [5] - Zynex has maintained a healthy balance sheet, having repurchased over $80 million in shares, enhancing shareholder value [7] - The company anticipates Q1 2025 net revenue of at least $30 million, with a projected loss per share of ($0.30) or better, expecting revenue growth throughout the year [15]