Zynex Tightens Q1 Sales, EBITDA Guidance; CM-1600 Blood & Fluid Monitor Awaits FDA Approval

Zynex Inc ZYXI expects Q1 FY22 sales of $30.5 million - $31.5 million, approximately 26% higher than Q1 2021, in line with the consensus of $31.04 million.
Earlier, the Company had forecasted sales of $29 million - $32 million.
The Company expects adjusted EBITDA between $3 million - $4 million versus the prior guidance of $3 million - $4.5 million, up approximately 900% year over year."
Zynex reiterates its FY22 guidance of $150 million - $170 million in revenue and adjusted EBITDA between $25 million - $35 million.
The pain management division saw Q1 order growth of 3% Y/Y with 15% fewer sales reps. The Company says it is relatively modest growth directly resulting from constraints regarding recruiting new sales reps in the tightened labor force.
Zynex's pipeline products include non-invasive CM-1600 blood and fluid monitor, NiCo laser-based co-oximetry, a HemeOx hemoglobin monitor, and a monitoring device to detect sepsis early.
The CM-1600 device is awaiting FDA 510(k) clearance, and Zynex expects to respond to FDA comments throughout Q2 while ramping up the manufacturing capabilities of the product.
Clinical studies validating the CM1600 are ongoing.
A peer-reviewed publication from Wake Forest University is in progress and expected to be published in the coming months.
Additional studies will begin in the second and third quarters of 2022. They will focus on significant blood/fluid changes and complex clinical scenarios.
Price Action: ZYXI shares are down 3.40% at $5.98 on the last check Friday.

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