Zynex Inc. Reports Net Income of $1.57 Million in First Quarter of 2023

Zynex Inc.(ZYXI), a leading medica l technology company, has released its condensed consolidated financial statements for the first quarter ended March 31, 2023. The company reported a net income of $1.57 million for the quarter, showcasing its continued growth and profitability. Additionally, Zynex Inc. generated a total net revenue of $42.17 million during the same period, reflecting a significant increase compared to the previous year. Let's delve into the financial details and performance of Zynex Inc. for the first quarter of 2023.

Net Income and Revenue Analysis

Zynex Inc. witnessed a remarkable performance in the first quarter of 2023, with a net income of $1.57 million, demonstrating the company's ability to generate substantial profits. This figure represents an increase from the net income of $1.38 million reported during the same period in the previous year.

The company's net revenue for the first quarter of 2023 stood at $42.17 million, showcasing a substantial growth compared to the net revenue of $31.08 million generated in the corresponding period of 2022. This surge in revenue can be attributed to strong sales in both the Devices and Supplies segments. Zynex Inc. reported net revenues of $11.94 million and $30.23 million for Devices and Supplies, respectively.