This morning medical technology company specializing in manufacturing and selling non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics Zynex Inc. (ZYXI:NASDAQ) announced 95% year-over-year order growth for the third quarter 2019.
The firm elaborated in the release that orders in the third quarter of 2019 grew by 95% compared to the third quarter of 2018 and were 30% above the second quarter of 2019. The firm further noted that in the second quarter of 2019, orders grew 65% year-over-year.
The report did not provide specific revenue data or any breakdown of the orders booked by product category. In the same corresponding period in Q3/18 the firm reported revenue of $8.131 million and in Q2/19 the firm previously advised that revenue in that quarter was $10.297 million.
The company's CEO Thomas Sandgaard commented, "The investment in our sales force expansion is clearly beginning to bear fruit. Our prescription-strength NexWave device is clearly a healthy alternative to prescribing opioids as the first line of defense when treating pain. We continue to aggressively add additional sales reps in territories throughout the U.S. that we have not covered previously...We 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."
Zynex was founded in 1996 and describes itself as an innovative medical technology company specializing in manufacturing and selling non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics. The firm markets and sells its own design of electrotherapy medical devices, which include NexWave, InWave, Electrodes and Batteries, and the company's proprietary NeuroMove device designed to help recovery of stroke and spinal cord injury patients. The firm's devices are intended for pain management to reduce reliance on drugs and medications. Zynex indicates that is also developing a new blood volume monitor for use in hospitals and surgery centers.
Zynex shares opened higher today at $10.05 (+$0.32, +3.29%) over yesterday's $9.73 closing price. The stock has traded today between $9.96 and $11.13/share and currently is trading at $10.90 (+$1.17, +12.02%).
[NLINSERT]Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
