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. On December 15, 2025, Zynex, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas.
Analyst Outlook | Price targets range from $12 to $16, with analysts projecting a return to 20% top-line growth by 2025 despite current headwinds |
Strategic Pivot | Explore Zynex's shift towards a diverse product mix and optimized sales force, aiming for over $1 million revenue per representative |
Financial Challenges | Despite impressive 80% gross margins, recent earnings miss and lowered guidance highlight short-term hurdles in Zynex's growth strategy |
Market Dominance | Zynex's strong position in the $900 million pain management market and expansion into the $3.7 billion patient monitoring sector signal significant growth potential |
Metrics to compare | ZYXIQ | Sector Sector - Average of metrics from a broad group of related Healthcare sector companies | Relationship RelationshipZYXIQPeersSector | |
|---|---|---|---|---|
P/E Ratio | 0.0x | −5.0x | −0.5x | |
PEG Ratio | 0.00 | −0.13 | 0.00 | |
Price / Book | 0.0x | 3.9x | 2.6x | |
Price / LTM Sales | 0.0x | 3.3x | 3.3x | |
Upside (Analyst Target) | - | 42.0% | 46.2% | |
Fair Value Upside | Unlock | 16.0% | 6.6% | Unlock |