Zynex, Inc. (NASDAQ:ZYXI) Q1 2022 Earnings Conference Call April 28, 2022 4:15 PM ET

Company Participants

Louisa Smith – Investor Relations-Gilmartin Group

Thomas Sandgaard – Chairman, President and Chief Executive Officer

Anna Lucsok – Chief Operating Officer

Don Gregg – Vice President of Zynex Monitoring Solutions

Dan Moorhead – Chief Financial Officer

Conference Call Participants

Marc Wiesenberger – BRiley

Jeffrey Cohen – Ladenburg Thalmann

Yi Chen – H.C. Wainwright

Operator

Good afternoon, ladies and gentlemen. And welcome to the Zynex First 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 Louisa Smith from the Gilmartin Group. Please go ahead.

Louisa Smith

Thank you, Joe, and good afternoon, everyone. Earlier today, Zynex released financial results for the first 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 first quarter 2022 earnings call. We had another solid quarter of growth and profitability. Our total revenue was 31.1 million for the quarter, an increase of 29% year-over-year, all generated in our Pain Management Division. Our earnings for the quarter were $0.03 per share, up from $0.02 per share loss a year ago, and adjusted EBITDA was $3.1 million.

Our order growth continues with a month of March recording the highest number of orders in the company's history.

Several months ago, we announced a $10 million share buyback program to signal our confidence in the long-term success and growth of Zynex. We have always been committed to delivering shareholder value and we believe purchasing shares at these prices creates value for our long-term shareholders.