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ZYXI 
Zynex Inc (ZYXI)
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Upturn Advisory Summary
12/01/2025: ZYXI (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
3 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $3.7
1 Year Target Price $3.7
| 0 | Strong Buy |
| 1 | Buy |
| 2 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -43.02% | Avg. Invested days 21 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/01/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 37.38M USD | Price to earnings Ratio - | 1Y Target Price 3.7 |
Price to earnings Ratio - | 1Y Target Price 3.7 | ||
Volume (30-day avg) 3 | Beta 1.01 | 52 Weeks Range 0.38 - 8.72 | Updated Date 12/1/2025 |
52 Weeks Range 0.38 - 8.72 | Updated Date 12/1/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -2.41 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2025-11-11 | When - | Estimate -0.1733 | Actual -1.42 |
Profitability
Profit Margin -68.35% | Operating Margin (TTM) -98.97% |
Management Effectiveness
Return on Assets (TTM) -27.11% | Return on Equity (TTM) -168.22% |
Valuation
Trailing PE - | Forward PE 16.61 | Enterprise Value 96648680 | Price to Sales(TTM) 0.35 |
Enterprise Value 96648680 | Price to Sales(TTM) 0.35 | ||
Enterprise Value to Revenue 0.89 | Enterprise Value to EBITDA 20.66 | Shares Outstanding 30388635 | Shares Floating 15791758 |
Shares Outstanding 30388635 | Shares Floating 15791758 | ||
Percent Insiders 48.16 | Percent Institutions 13.78 |
Upturn AI SWOT
Zynex Inc
Company Overview
History and Background
Zynex, Inc. was founded in 1996. It is a medical technology company specializing in the design, manufacture, and marketing of non-invasive medical devices for pain management, rehabilitation, and neurological diagnosis.
Core Business Areas
- Pain Management: Develops and markets electrotherapy devices to manage chronic and acute pain.
- Rehabilitation: Offers devices aiding in muscle re-education and functional restoration.
- Neurological Diagnosis: Manufactures and sells EMG and EEG systems for neurological assessment.
Leadership and Structure
Thomas Sandgaard is the Chairman, President, and CEO. The company has a traditional hierarchical organizational structure with departments for R&D, manufacturing, sales, marketing, finance, and operations.
Top Products and Market Share
Key Offerings
- NexWave: A multi-modal electrotherapy device used for pain relief. The market share is difficult to pinpoint exactly due to the fragmented nature of the pain management device market, but Zynex is a significant player in the electrotherapy segment. Competitors include BSN medical, DJO Global, and NeuroMetrix.
- Evolver: An EMG (electromyography) system used for neurological diagnostics. Market share data is not readily available. Competitors include Natus Medical Incorporated and Cadwell Laboratories.
- NeuroMove: A device used for stroke rehabilitation to help muscle re-education and functional restoration. Market share data is not readily available. Competitors include Hocoma, Tyromotion and Bioness.
Market Dynamics
Industry Overview
The medical device industry is experiencing growth driven by an aging population, technological advancements, and increasing demand for non-invasive treatment options. The market is competitive and heavily regulated.
Positioning
Zynex positions itself as a provider of innovative, non-invasive medical devices focusing on pain management and rehabilitation. Its competitive advantages include its patented technologies, direct sales force, and focus on customer service.
Total Addressable Market (TAM)
The TAM for pain management and rehabilitation devices is estimated to be billions of dollars globally. Zynex is positioned to capture a portion of this market through its product offerings and expansion strategies.
Upturn SWOT Analysis
Strengths
- Proprietary technology
- Direct sales force
- Strong brand recognition within its niche
- Vertically Integrated Manufacturing
Weaknesses
- Reliance on a few key products
- Limited international presence
- Susceptibility to reimbursement changes
- Small Market Cap
Opportunities
- Expanding product line
- Entering new geographic markets
- Acquiring complementary businesses
- Capitalizing on telehealth and remote patient monitoring trends
Threats
- Increased competition
- Changes in healthcare regulations
- Product liability claims
- Economic downturns
Competitors and Market Share
Key Competitors
- BSN Medical
- DJO Global
- NeuroMetrix
- Natus Medical Incorporated
- Cadwell Laboratories
Competitive Landscape
Zynex faces competition from both large, established medical device companies and smaller, specialized players. Its advantages include its focus on non-invasive pain management and its direct sales model. Disadvantages may include its smaller size and limited resources compared to larger competitors.
Growth Trajectory and Initiatives
Historical Growth: Zynex has experienced growth in recent years, driven by increased sales of its pain management devices.
Future Projections: Future growth projections depend on market conditions and the company's ability to execute its strategies. Analyst estimates are needed for specific figures.
Recent Initiatives: Recent initiatives have included new product launches and expansion of the sales force.
Summary
Zynex is a specialized medical device company focused on pain management and rehabilitation. Its core products are well-received, and the company operates with a direct sales model. However, Zynex faces competition from larger players and is susceptible to regulatory changes. Continued innovation and market expansion are key to its long-term success.
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Sources and Disclaimers
Data Sources:
- Company Website
- SEC Filings
- Industry Reports
- Analyst Reports
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It is not financial advice. Market share data is often estimated and may not be precise. Please conduct your own research before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Zynex Inc
Exchange NASDAQ | Headquaters Englewood, CO, United States | ||
IPO Launch date 2002-12-31 | CEO & Director Dr. Steven Lewis Dyson Ph.D. | ||
Sector Healthcare | Industry Medical Distribution | Full time employees 1000 | Website https://www.zynex.com |
Full time employees 1000 | Website https://www.zynex.com | ||
Zynex, Inc., together with its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain, and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; NeuroMove, an electromyography and electric stimulation technology device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; E-Wave, an NMES device; and M-Wave, an NMES device. It also supplies private labeled products, including electrodes for the delivery of electrical current to the body; and batteries for use in electrotherapy products. In addition, the company distributes Comfortrac/Saunders for cervical traction, JetStream for hot/cold therapy, LSO Back Braces for lumbar support, braces for rehabilitation support for knee and wrist, and Dynacomp for cold compression therapy. Further, it develops Zynex Fluid Monitoring System (CM-1500); Zynex Wireless Fluid Monitoring System (CM-1600), a noninvasive monitoring device designed to measure relative changes in fluid volume in adult patients; NiCO CO-Oximeter, a laser photoplethysmographic patient monitoring device; and HemeOx tHb Oximeter, a laser-based total hemoglobin pulse oximeter. The company provides its products for use in pain management and control; stroke and spinal cord injury rehabilitation; and fluid monitoring and pulse oximetry monitoring. It sells its products through direct sales force primarily in the United States. Zynex, Inc. was founded in 1996 and is headquartered in Englewood, Colorado.
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