Zynex, Inc. (NASDAQ:ZYXI) Q2 2022 Results Conference Call July 28, 2022 4:15 PM ET

Company Participants

Louisa Smith - Investor Relations-Gilmartin Group

Thomas Sandgaard - Chairman, President and Chief Executive Officer

Dan Moorhead - Chief Financial Officer

Anna Lucsok - Chief Operating Officer

Don Gregg - Vice President of Zynex Monitoring Solutions

Conference Call Participants

Simran Kaur - Piper Sandler

Jeffrey Cohen - Ladenburg Thalmann

Marc Wiesenberger - B. Riley Securities

Yi Chen - H.C. Wainwright

Operator

Good afternoon, ladies and gentlemen, and welcome to the Zynex Second Quarter 2022 Earnings Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

I would now like to turn the conference over to Ms. Louisa Smith from the Gilmartin Group. Please go ahead.

Louisa Smith

Thank you, Chuck, and good afternoon, everyone. Earlier today, Zynex released financial results for the second quarter of 2022. A copy of the press release is available on the Company's website.

Joining me on today's call are Thomas Sandgaard, Chairman, President and Chief Executive Officer; Dan Moorhead, Chief Financial Officer; Anna Lucsok, Chief Operating Officer; and Donald Gregg, Vice President of Zynex Monitoring Solutions.

Before we begin, I'd like to remind you that during this conference call, the Company will make projections and forward-looking statements regarding future events. We encourage you to review the Company's past and future filings with the SEC, including, without limitation, the Company's 2021 Form 10-K and subsequent Form 10-Qs, which identify the specific factors that may cause actual results or events to differ materially from those described in these forward-looking statements. These factors may include, without limitation, statements regarding product development, product potential, the regulatory environment, sales and marketing strategies, capital resources or operating performance.

With that, I will now turn the call over to Thomas.

Thomas Sandgaard

Thank you, Louisa, and good afternoon, everyone. Thank you for joining us today for the second quarter 2022 earnings call.

This quarter's revenue and profitability remain exceptionally strong, as we continue to execute on our long-term growth plans. Total revenue was $36.8 million for the quarter, an increase of 18% year-over-year. Both in June and also for the second quarter, we saw the highest number of monthly and quarterly orders in the Company's history.

Second quarter orders grew 19% sequentially over the first quarter 2022 and 10% over the second quarter 2021. Earnings for the quarter were $0.08 per diluted share, and adjusted EBITDA was 5.5 million. And we are on track to achieving both top and bottom-line full year guidance.