Zynex, Inc. (NASDAQ:ZYXI) Q2 2024 Earnings Conference Call July 23, 2024 4:15 AM ET
Company Participants
Thomas Sandgaard - Chairman, President & Chief Executive Officer
Dan Moorhead - Chief Financial Officer
Donald Gregg - President, Zynex Monitoring Solutions
Quinn Callanan - MZ North America
Conference Call Participants
Jeffrey Cohen - Ladenburg Thalmann
Yi Chen - H.C. Wainwright
Operator
Good afternoon, ladies and gentlemen, and welcome to the Zynex Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a 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 Quinn Callanan from MZ North America. Please go ahead.
Quinn Callanan
Thank you, operator. Good afternoon, everyone. Earlier today, Zynex released financial results for the second quarter ended June 30, 2024. 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; 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 2023 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
Thank you, Quinn, and good afternoon everyone. Thank you for joining us today for the second quarter, 2024 earnings call. First, I want to say that unfortunately, our Chief Operating Officer, Anna Lucsok is traveling and couldn't be here today for the call. So I'll speak to the items around operations as well.
In the second quarter, we saw continued revenue momentum up 11% from the prior year and the 9th straight quarter of record high order numbers. While we continue to produce solid revenue growth, the second quarter and the full year 2024 revenue is less than originally anticipated. The decrease in our 2024 revenue versus prior estimates is due to a few factors, all of which long-term will put us in a better position for profitable future growth.