Zynex falls on lower Q4 revenue

Shares of medtech co Zynex ZYXI.O fall 14.7% to $5.97 aftermarket

Reports Q4 net revenue of $46 mln compared to $47.3 mln a year ago

Says that the revenue shortfall was due to slower-than-normal payments from certain payers as well as a temporary suspension of payments from healthcare service provider Tricare

Co says TriCare represents about 20%-25% of annual revenue

Says due to the temporary payment suspension, co is cutting jobs by about 15%

The staff reduction along with other expense reductions will result in savings of about $35 mln annually — ZYXI

Co expects Q1 2025 net revenue of at least $30 mln vs estimates of $53.5 mln — LSEG data

Stock has fallen 26.5% in 2024