Zynex, Inc. (NASDAQ:ZYXI) Q4 2023 Earnings Conference Call February 29, 2024 6:15 PM ET

Company Participants

Quinn Callanan - Investor Relations

Thomas Sandgaard - Chairman, President and Chief Executive Officer

Daniel Moorhead - Chief Financial Officer

Anna Lucsok - Chief Operating Officer

Donald Gregg - Vice President, Zynex Monitoring Solutions

Conference Call Participants

Jeffrey Cohen - Ladenburg Thalmann

Shagun Singh - RBC

Yi Chen - H.C. Wainwright

Operator

Good afternoon, ladies and gentlemen. And welcome to the Zynex Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to Quinn Callanan from MZ North America. Please go ahead.

Quinn Callanan

Thank you, operator and good afternoon everyone. Earlier today, Zynex released financial results for the fourth quarter ending December 31, 2023. 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, 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 202 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'll now turn the call over to Thomas.

Thomas Sandgaard

Thanks, Quinn. And good afternoon, everyone. Thank you for joining us today for the fourth quarter and full year 2023 earnings call. 2023 was highlighted by ongoing revenue momentum, leading to a record revenue for the year of $184 million, up 17% from the prior year.

The fourth quarter marked our 11th consecutive quarter of profitability and seventh straight quarter of record high order numbers. Once again, we received the highest number of prescriptions in company history, exceeding our previous record. I'm proud to announce that we also produced a $17.8 million in positive cash from operations in 2023, another all-time record for the company. With that, we are able to continue to invest in further sales growth also in our monitoring division and aggressively be buying back stock on the open market.