Steve Fox on revenue projections
From Zynex Inc. CEO Highlights growth and Innovation in Pain Management and Hospital Monitoring · · Proactive Investors
“We expect long term revenues to eventually hit, or exceed 800 million. And this is all powered by NextWave.”
On , Steve Fox, Executive Vice President of Sales at ZYNEX INC, spoke about revenue projections during Zynex Inc. CEO Highlights growth and Innovation in Pain Management and Hospital Monitoring on Proactive Investors.
About Steve Fox
In a September 2024 interview, Zynex CEO Thomas Sandgaard discussed the company's growth and product pipeline. Sandgaard stated that Zynex, which he founded 28 years ago, expects to reach $200 million in revenue this year, up from $11 million seven or eight years ago, and that the company continues to grow at a double-digit percentage. He said the company has been able to buy back stock and invest tens of millions of dollars in hospital monitoring while remaining profitable and cash-flow positive. Sandgaard described the NextWave device as the company's flagship and current primary revenue generator, noting it is often prescribed by orthopedic surgeons for post-surgery pain relief and to increase blood circulation. He said the company expects long-term pain management revenues to eventually hit or exceed $800 million. Regarding hospital monitoring, Sandgaard said Zynex has four products in development, including one that he said can more accurately measure oxygen levels in patients with dark skin pigmentation, a flaw he attributed to existing devices. He said the company expects to submit an application to the FDA for that product in the fourth quarter of 2024.