Zynex Plans New $10M Stock Buyback Program

Zynex Inc ZYXI announced a new share buyback program of up to $10.0 million of its common stock.

The program will start on June 14, 2023, and is expected to conclude on June 13, 2024, or when the buyback limit of $10.0 million is reached.

As of June 13, 2023, Zynex had approximately 41.6 million shares issued and 36.4 million shares outstanding.

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In Q1 2023, the company completed the repurchase of shares worth $3.4 million.

The company expects to finance the purchases with existing cash balances, which is not expected to have a material impact on capital levels.

Zynex witnessed an operating cash flow of $1.9 million in the quarter and had $16.8 million of cash as of March 31, 2023. 

Price Action: ZYXI shares are up 9.63% at $9.45 on the last check Wednesday.