Zynex, Inc. (OTCMKTS:ZYXI) Files An 8-K Results of Operations and Financial Condition
ITEM 2.02
On July 9, 2020, Zynex, Inc. (the “Company”) issued a press release announcing select estimated results for the three months ended June 30, 2020 and updated guidance for the full year 2020. The full text of the press release is furnished herewith as Exhibit 99.1.
Non-GAAP Financial Measures
The Company reports its financial results in accordance with accounting principles generally accepted in the U.S. (GAAP). In addition, the Company provided in the furnished press release financial information in the form of Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, other income/expense and stock compensation). The Company’s management believes this non-GAAP financial measure is useful to investors and lenders in evaluating the overall financial health of the Company in that it allows for greater transparency of additional financial data routinely used by management to evaluate performance. Adjusted EBITDA can be useful for investors or lenders as an indicator of available earnings. Non-GAAP financial measures should not be considered in isolation from or as an alternative to the financial information prepared in accordance with GAAP.
The Company’s income tax expense for the three months ended June 30, 2020 has not yet been finalized and is currently estimated to range from 10% to 20% of pre-tax income.
The following is a reconciliation of GAAP to Non-GAAP financial measures provided in the furnished press release assuming a 10% or 20% effective tax rate:
| 99.1 | Zynex, Inc. Press Release dated July 9, 2020 |
ZYNEX INC Exhibit
EX-99.1 2 tm2024637d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Zynex Announces 37% Order Growth and Increases Q2 and Full-Year Revenue Estimates ENGLEWOOD,…
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About Zynex, Inc. (OTCMKTS:ZYXI)
Zynex, Inc. operates through the Electrotherapy and Pain Management Products segment. The Company conducts its business through its subsidiaries and the operating subsidiary is Zynex Medical, Inc. (ZMI). Its other subsidiaries include Zynex Monitoring Solutions, Inc. (ZMS) and Zynex Europe, ApS (ZEU). ZMI designs, manufactures and markets medical devices that treat chronic and acute pain, as well as activate and exercise muscles for rehabilitative purposes with electrical stimulation. ZMS is in the process of developing its blood volume monitoring product for non-invasive cardiac monitoring. ZEU intends to focus on sales and marketing its products within the international marketplace, upon receipt of necessary regulatory approvals. It markets and sells Zynex-manufactured products and distributes private labeled products. Its products include NexWave, NeuroMove, InWave, Electrodes and Batteries. ZMI devices are intended for pain management to reduce reliance on drugs and medications.
