ST. PETERSBURG, FL / ACCESSWIRE / March 8, 2018 / Consilium Global Research (CGR) an Investor Recognition Company that connects Companies with Investors, today announced that it has issued an Update Report on Zynex Inc. (OTCQB: ZYXI).
Zynex is the leading provider of Electrotherapy Medical Devices used for pain management and rehabilitation. The company is also pioneering development of an Innovative Blood Volume Monitor.
1. ZYXI reported 4Q17 EPS of $0.10, on revenue of $8.1 million, exceeding our forecast of $0.09 on revenue of $7.3 million. An improvement in sales coupled with higher margin consumables and an improved reimbursement strategy drove the strong results. For 2017, EPS was $0.22 on revenue of $23.4 million, up from $0.00 on revenue of $13.3 million at the end of 2016.
2.As a result of the improved performance and our conversations with management after the earnings call, we are adjusting our forecasts. We now forecast 2018E revenues of $34.2 million, up from $33.0 million. For 2019E we now forecast revenue of $47.9 million, up from our previous forecast of $46.3 million. For 2018E we now forecast EBITDA of $15.9 million up from $15.4 million. For 2019E, we now forecast EBITDA of $24.3 million up from $23.4 million previously. For 2018E, we are leaving our EPS forecast unchanged at $0.31. For 2019E we now forecast EPS of $0.41, up from $0.39.
Our Investment Thesis is intact and we are glad to see that the on-going paradigm shift at ZYXI is proving beneficial to investors. As a result, we are raising our estimate of fair value to $7, from $6, which assumes ZYXI can achieve an EV/EBITDA of 11.6x, a P/E of 17.2x and an EV/Sales of 2.4X. We believe this is fair as the company's business momentum is continuing.
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SOURCE: Stock Market Manager