--News Direct--
Zynex Inc CEO Thomas Sandgaard joined Steve Darling from Proactive to announce the company's financial and operational results for the second quarter ending June 30, 2024, in an interview with Proactive. The company achieved a remarkable 20% year-over-year increase in orders, marking the ninth consecutive quarter of record-breaking order numbers. Zynex reported an 11% year-over-year increase in second-quarter revenue, totaling $49.9 million, and a 20% increase in year-to-date cash flow from operations, reaching $3.2 million.
Sandgaard emphasized the company's ongoing efforts to secure FDA approvals for next-generation devices and expand its product line in pain management. The pain management division saw a significant 20% improvement in orders compared to the previous year, highlighting strong market demand. Looking ahead, Zynex has provided guidance for the third quarter, with revenue expected to reach at least $50.0 million.
Zynex's pain management devices are prescribed for various conditions, from post-surgical recovery to general pain management, by a diverse group of medical professionals, including surgeons, general practitioners, and chiropractors.
.In terms of innovation, Zynex is developing new monitoring devices, including a pulse oximeter based on laser technology for more accurate blood measurements, which could also detect sepsis. This product, along with others in development, positions Zynex to potentially capture significant market share. The company aims to diversify its product portfolio.
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