ZYXI - Earnings call transcript Q2 2019

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day and welcome to the Zynex's Second Quarter 2019 Earnings Conference Call. All participants will be in a listen-only mode [Operator Instructions].

Certain statements in this release are forward-looking and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Risk factors that could cause actual results to materially differ from forward-looking statements are described in our filings with the Securities and Exchange Commission, including the Risk Factors section of our annual report on Form 10-K for the year ending December 31, 2018, as well as forms 10-Q, 8-K and 8-K&A, press releases, and the company's website. event recorded. this that know is being Please

I to Chief Thomas like to Executive conference over turn the Sandgaard, Please ahead. would go now Officer. Founder, Chairman, and

Thomas Sandgaard

of Thomas Good name quarter Sandgaard, Zynex. call. Welcome President XXXX afternoon. earnings to is and My second our CEO

with to quarter that XXth announce income. pleased second quarter net I'm our was the consecutive positive

we XX% was second the reported in last fully diluted per quarter of income $X.XX quarter of income revenue Our net $X.X estimate the same Revenue positive was slightly compared increased $X.X net year, EBITDA for the $XX.X, our above and just with a Adjusted million, to share. quarter. million. over quarter

our the to our Many This from in as this release only Colorado earlier were last speaks net not also growing but of well. have month. perspective income two company you a seen years. during press controls cost named may growth We the fastest

proud to honor. have this We are very received

second end taxes. was position half including cash Our our income in the and the dividend $X.X a payment of cash first of million the $XX.X had amount significant first XXXX, of of at the some significant special payments quarter of quarter. million We

over footprint and As across the comparing products. our see our and continue sales we've strong grown we to keep quarter, force XX% we the growing geographic year-over-year, U.S., second reimbursement for

that over and is This early reps the and we all growth growth the an growth growth see as the sales saw we momentum to of order the every sales revenue see sign future result to expect adding quarters, becoming first month, sales force periods. is second subsequent grew XX% between order productive. and the Orders more new of to reps new the aggressively

already, to our relief. order know revenue for may continue and many over typically is months you continued device the pain use as supplies patients an related recognized of As the

sustained we sales quarter, force our second aggressive the In growth.

XXX sales should reps, That XX to and in of end XXXX approximately reps added our to XXXX. XXXX around reps us reps by in every sales down with XXXX get XX from through new We reps month. new all reduction the direct stemming add pace continue sales independent and XXX approximately before

gross XX%, also indication at see remain that is our the pleased an to level prescription strength still of margin industry a profit and not healthy but stable I'm viable. for very electrotherapies very only

and to a opioid abuse. country, this issue technology prescription The to and the be use strength our yearly treating with line working continues tens Currently, defense a increasingly impact opioid as thousands opioids the in where has devastating we due of propositioned epidemic serious get pain. patients die reached to are to off first of level

that We continue make to has develop no our effects. of literally to physicians aware more tools technology side

best some the products and for InWave out rehabilitation rehabilitation the pain management, for still The device product for stand and products as puts markets. of treatment NexWave Our in the in strong in position a stroke pain the rehabilitation, us very incontinence NeuroMove industry. our management for

volume as management, our in We also potential revenue-generating as for both well see our for our of product huge, pain continue area monitor. divisions, to potential the great existing blood unmet

XX our Russell XXXX getting were day listed to traded XX,XXX times in year The shares XXXX In has increased over presently. an per investor added transformational and traded approximately NASDAQ, traded been of daily in volume June, perspective. February, day from combination we to shares on a events these from XXX,XXX succeeded we per the Index. over

head as new we Joseph and help continued help growth to Operating into of talent accelerate facilitate also February, continue Sales, Chief added Brown We organization to and finish Both week, added us streamline will and Chris and our XXXX our Chris In we Joseph VP Officer, add as our our XXXX. growth. Papandrea. to a new last we

turn now call our over the Dan to will I CFO. Moorhead,

Dan Moorhead

Thanks, Thomas.

I'll review compared $X.X to $XX.X $X.X million revenue the to revenue increased from were year-over-year, XX% $X XX% up First, last million in million. drove million $X.X quarter. year-over-year net grew to XXXX XX% $X.X second Supplies quarter XX% to Orders increased Gross in million million, XX% which year. results. XXXX. second our margins Device revenue from

we XXXX, out growth. G&A compared to and order expense Much and we headcount greater was Beginning to the grow our of in related impact. and related Sales financial was from to year-over-year, sales began related and growth support grew marketing our functions breakout XX% force. expense of increased QX marketing XXX% increased This flat initiative to the overall patient year-over-year. our in G&A to sales our increase clarity statement billing provides XXXX. continue breaking as G&A. expenses sales

our our non-cash Second year. press was Adjusted million operating the EBITDA, We've other second quarter which us and $X.XX and or million, diluted position. compared stock-based income million, net last of per expense to $X.X share, calculation, to EBITDA exclusion in tax reconciled as release $X.X last the over income the $X.XX year-over-year an losses and diluted of per compensation in net income puts years, and two expense net was taxable our $X.X a second profitability utilized income of due quarter share, or XXXX. XXXX quarter plus in in increased standard is a which

net to revenue $XX.X Supplies XX% XX% year-over-year X% $XX.X compared net million million Adjusted to last year. year. to our increased $XX.X from results. million, XX% million, Gross of per compared drove $X.X XX% from which $XX.X million X% $X.X Device $X.X $X.XX to net revenue up million were $X.X million. share, year-over-year, diluted of last million, million million from up Orders XX% in increased XXXX. six-month on to $X.X was in last $X.X income the increased revenue year. half grew EBITDA to first or margins XXXX. XXXX to Now, income

affected by flows of both and of related operating which increased were tax during flows XXX% of to NOLs, tax months XXXX which in in utilized timing of XXXX to generated first XXXX. expense XXXX. million, six were compared in We cash payments, the Cash our XXXX were million $X.X the $X.X

balance our $XX.X mentioned XX% January. was expense million, the of of cash December capital Working dividend On $X.X in by $XX.X XX, $X.X XXst, grew to million QX, which XXXX. balance and already and as June special tax was the I've paid was fourth the million that to quarter compared sheet, XXXX, million as in affected of

there lease caused to sheet, are are to the capital During space, QX, for current. we of working on million all the us on We balance assets, so lease a those negative effect in non-current which liabilities office related lease. approximately entered into related approximately recorded additional a new new but record in $X.X which was the XXX,XXX nature,

back that, to With I'll turn over the Thomas. call

Thomas Sandgaard

compared sales especially you, huge force and clearly functions. management, our inside justifies to I'm revenue Thank in XX%. Dan. It's orders a and of our in our growth to investments year-over-year XX% growth our testament the our efforts personnel, of excited support to sales about grow sales

rate areas currently previously market Our to focus we continues to of cover take be large void don't a the left advantage growing in our two by at competitors. geographic the sales very which rapid force in

third increased million EBITDA and $X.X million our with larger sales profitability. due products estimate quarter be the Our adjusted $XX.X our million. and third revenue to with and strong for reimbursement combined $XX.X revenue a to between to between an increased $X.X in continue We drive force orders quarter

sales of huge domestic to rehabilitation competitors. to for management acquisitions pain advantage the goal includes is My growing to force, the continue market well as our electrotherapy huge our This grow and market for technologies. our of of prescription void take after main complementary the long-term the potential disappearance in share and our of as

including patent the staffing, of this and our blood also the more to We're last at cetera. our side, product product additional obtained development this indicates the with research to clinical more on our beginning business developing development, advertising, volume add to adding internally. looking monitor the On products next year of support phase et division division,

summary, another and forward. growth revenue, quarter which to organization, for the talent, of great a growth added sets plus in we us In COO seamless announced addition the strong great yet financial going orders performance including and with up some we strong

listeners. questions from now We will answer our

Operator

[Operator first Cohen go Ladenburg comes Please with from Instructions] question ahead. The Jeffrey Thalmann.

Jeffrey Cohen

Hi, Thomas Dan. How are you? and

Thomas Sandgaard

Jeff? doing, you are How Good.

Jeffrey Cohen

Just fine.

days. again, frequently Seem So, that quarter. saying these nice to fairly be

about sales So, talk a the little channel. bit

reps previous direct growing You for a total the of rest month. XXX year? plus Is at were envision about now XXX XX that that talking this you have, a independent good that XX way to

Thomas Sandgaard

Yeah, the of that's where of a sort year. we end for target at round-number should the be

Jeffrey Cohen

the correct? Fourth it. Got that me took Floor floor? And little talk X, you No. bit a on, to about facility

Thomas Sandgaard

That's floor. the third

engineering, the have quality, functions. IT, and we where and and many production, and first So, have we other floor

floor. third so have the much have basically fourth other building, moved in the We floor now group functions, was has which we that grown to all them and the our billing the

we of square building So, now. have total in a feet XX,XXX this

Jeffrey Cohen

total? count Or what's corporate total? in And in Okay. FT the Colorado

Dan Moorhead

It's about take. or give XXX,

Jeffrey Cohen

about little kind grapple getting And Got clinicians, it. of does and then, bit therapy to into with your a one technology? Perfect. to prescribers commentary the Thomas, regarding earlier more How getting talk as physicians, of and beyond. opposed first-line among favorable me

Thomas Sandgaard

spin can There's and force. so as discuss around therapists as have obviously our and these as reps parameters, meet sales we well our physicians alternative. option an really sales with two they to is the that all face-to-face footprint, One have geographical treatment physical

patients they message our prescribing of And lot as sales very obviously quality the for prescriptions opioids reps second, heading and are a more start whole device reps they of efficient terms write quality we important, for the should convincing before be deliver, of in physician the those the of can pain. better the the sales the to in into

Jeffrey Cohen

you to the stand first-line in you you where think Got first-line as do versus or at about the CAM successfully it. if closer what's get you how currently? And predominantly leapfrog then, currently drugs, the differential

Thomas Sandgaard

that rephrase you Could question?

Jeffrey Cohen

leapfrog today, market to that the you addressable where are how If you're size? able times successfully many first-line is into versus

Thomas Sandgaard

are pain they That's of it. much tens level patients treatment in obviously of in that some so seek for of the millions that

revenue talking tens typically prescription. we you when the on of by multiply average see an we're billions So, that

it's in tens of So, the billions.

Jeffrey Cohen

if times writing X-XX-XX first-line? you're in of get market upwards it's So, to more able greater

Thomas Sandgaard

of that successful up very in picking market this That's of obviously as the from of is terms market very all fruit right. billions on we in, into assuming that this well-developed, point traditionally reimbursement we we where all, that, low-hanging That's the in and long were the And the get long-term written of possibly that well-established the once in number prescriptions scenario, term. and are revenue well. further the past getting developing it that capture first

lives make better in send more the future. be people may process, That It come educational asking very of avoiding orders will our at part into sales on forward simple that look and our pain which more I to used different is and strategy providing that or than obviously just this technology it'll limiting our a play more the that educational hopefully the are for of is in but process rather prescribe require need really terms the that relief, that to instead, certainly also sales way time, there take. complex, in they amount getting same to pain yet opioids the and physicians

Jeffrey Cohen

currently believe front seeing lead that you therapy? trends drug are And prescribing to jumping of you're in you that

Thomas Sandgaard

Not necessarily.

hands have develop and very that we getting focused the them them the that are force and in management VP just sure deployed. good every reps these adding, We and of holding into we hiring that Sales keep with we sales a trained, getting on We now XX making five managers the sales sales regions sales now that quality force. of right reps regional month, sales are a our added develop new restructured

And force line, aligned more many force different now having with in primarily looked sales many scenarios. to independent comprised reps unified than the past, a that the rather the of which company how much was many, carrying are sales product also, compared sales different more

Jeffrey Cohen

does Perfect. Thank That me. it you. for

Thomas Sandgaard

Jeff. Thanks,

Operator

The next Please go of from HC Chen Yi question Wainwright. ahead. comes

Yi Chen

taking you Thank for questions. my

plan how quarters? quarter many is add in And you revenue each the question reps the reps sales number of forward? top-line going First have to past proportion more the to grows in added sales you've

Thomas Sandgaard

not directly that if days positively last to as surprised reps yes, XX-day the in well in performance see very the we're been your those last we now first answer that. how better reps than that approximately days so were got year, orders trained efficiently from reps performing. new question We've been also we've have hired those as to XX first introduced and by that year, seen of XXXX, last the hired we've XX% the compare these To encouraged first performance of training first, better new XX

but sales out really we significant were saw when And reps. something by the grow that we XX% a investment, It's second that all of in on look these quarter able the at stands adding we the that to increase orders year-over-year is orders. obviously

the XX%-XX% in for would that So, seen I'm being we've that as the to indicate a encouraged a continue compared because grow range, we'll very company. while to revenue growth

add that States we In XX-XX across a a today. XXX mapped million citizens terms reps, will to in in in get than from we reps ultimately sales and of how sales we with expect so the months have little territories we there United each to expect approximately territory, less

to guess the so eight math I add need the be can pace we'll next quarters, still we at. So, of do XXX approximately in you terms the hiring over

that approximately that's quarter needs So, XX be a to added.

so than way. less running of bit a little currently we a at, come XX a that should should So, together we're also that month little attrition, but expect it all

Yi Chen

the newly quarter, opioid and in My is received are what percentage Thank NexWave? to the treatments diagnosed product patients second treatment who each of device have NexWave patients switched were who question all of percentage what from them you. receiving patients second a

Thomas Sandgaard

Sometimes prescription expensive we some obtain the form we and we may prescription the printouts card, always handwritten we of records. a as barely we These from cases, of offices, they're receive the in contact medical same an day that the have doctors' have as information not but patient very insurance and hospitals information get the photocopy in just or a days and involved. patient and some

XX% guess, there. be I well that asking not be, have about it's So, able something exactly measure. we it But exactly you're to this would information, at that that don't scenario a that expect we're would so just point, below to probably qualified that but showing

Yi Chen

you. thank Okay,

Thomas Sandgaard

Thank you.

Operator

Marc Please go from with comes question ahead. next Riley Wiesenberger The B. FBR.

Marc Wiesenberger

staff you. impacts some to the about targeting sales Thank Good any the physicians you afternoon. Can and talk changes on is the types business? of

Thomas Sandgaard

for used are cases to device even increasing group some surgery after obviously before There's a lot is blood some to not how A pain that significant we're a the in in It's the who and technology getting patient but management targeting great, circulation surgeons. so whole is it introduced, right getting of targeting. change management orthopedic surgery. and we the pain operate orthopedic great

by a of rehabilitation amount a see medicine of quite also physical you therapy a from orders. expect doctors, and see anesthesiologists, management and also bit prescriptions and doctors we doctors, pain prescribed We significant can also of quite physical bit for probably account

mentioned et spread in chiropractors, family been primary literally a out has kinds a surgeons. And is all long of the are same, other all our focus. for percent still our we spectrum has then, the just But it's about specialties, That with but orthopedic in time podiatrists, it's terms of over very in range. target physicians, of cetera, but XX-something that coming of a That's orders physicians I very, couple changed nearly up XX% broad groups of nothing there see. the really

Marc Wiesenberger

that's sales and about and their realignment the how impacted even and alluded of talk regional Thank managers. On territories reps the Can Understood. the business? you. calls previous earlier, adding five sales to you you sales

Thomas Sandgaard

well. it's call impacted, defined very lot of of that then historically -- I expect legacy with something from into been always created but we reps the necessarily been of really years that that have sales question -- Obviously, high tell keep that gone to your carve computer-based some that's volume, about that can many talking and on for them fit that really a have when was they most, seeing we clinics a has It's being can population. gone not that produced reps some them noise. many we're that very kind you so the many, obviously And we us there exceptions that's out for few and a territories the that could we based well.

over trained. That's very actually working that at XX getting well-oiled very very a territory take so been and reps month for really per -- us implemented about really -- management structured should point. our the it that new and We've applaud team interviewing, a sales just I with hired whole like really and approached very it to so it's in the and gone well. in at this future, having or easy manner, It's up and professional delicately, machine one I them sets the plug territories qualifying a for time say

Marc Wiesenberger

that tight this with to labor Are goes really of and at of next ramp That's any point as with finding you hear, along anticipate kind sales question. good kind do trouble the difficulty And reps? process, that my having qualified having market? you you

Thomas Sandgaard

a we keep the sales sales it have in time every reps, might territory we're the that number the same or applicants way out a that the number we having the harder the we add see here reps, and little them but into, new that add of different. a logic as should miles more population amount good putting after mapped whether to territories be be the area can maybe sales a have, because the finding always it's applicants, I area, a rep square fact of is we interviewed of No. rural high-density

size of has every same percentage the population the background are or therefore is selling and But sales that of also the the that medical time. interested devices, a about in population,

for. there because new of cadence we the keep sustained why talent be for pace, is and slowing down to pool that's So, that and doesn't that any territory seem we can interview every

So, good that's actually news.

Marc Wiesenberger

dollar in for term? timing good your medium is maybe That near noticed you of in or reimbursements and are hear. in payments? Have to expectations any of what terms value changes And the

Thomas Sandgaard

XX this ago. same years month. ago, as that The the changing the XX several believe across before, it's most is But years company XX was years that, I difficult of years ago, other name is, It's it than now. what still the seen we've I the insurance as mentioned board, for constant. pretty keeps the It's thing that

mentioned a earnings level. company, orders about great three billing past mistakes the been can including keep and better the have we've past. high processing the fairly internally, as of lot grow, that or into constant files gotten not being and so We in parts making and at years, expect talent also the at getting I efficient department as we've be in talked the calls, many As all just a to and as previous we keep over I the seems

Marc Wiesenberger

Sure.

been With having, you've the competitive success new changes insurance? with you the any seeing in are landscape

Thomas Sandgaard

every that sure through seen on we I'm still would know grapevine sales one it same. I earnings anything. about haven't so the and we pretty hear another is up comes yet. that where Not question it's the really and the call, quickly force,

we basically are geographic with So, a our keep obviously adding we well-established a market, unique coverage. in no position and well-developed reps very with significant to competition, and reimbursement, expand here just sales

Marc Wiesenberger

guess Got one how question are have CE the and approval, me, one to call. blood well? clinical progressing as on on got studies final it. volume FDA the an I obligatory updates or from And Any Marking

Thomas Sandgaard

some today three then, are that. easy. well. FDA the studies and should all closer had at there weeks. an the clinical so would we organization, and studies I Marking, research site And after few were we we're are There have here That progressing Clinical probably terms the be doing ago. follow shortly initial than our of we a up fairly in say were should we test months in technicalities And CE lined that through where

Marc Wiesenberger

much. very you Thank Understood.

Operator

ahead. with The Please Capital. next Next Boyd Mark Shawn from question go comes

Shawn Boyd

Can OK? you Good hear afternoon. me

Thomas Sandgaard

Good Yeah. afternoon.

Shawn Boyd

XXX expansion, if -- at of XXX is sales now, force course and of you Great. to it here, dear were now I you years our about indicated one going hearts clarify understood correctly, about near to right thing. reps two just which to I The all want

Thomas Sandgaard

end. year By

but round year be we're end, kind the right XXX, in we target. XXX-XXX range, So, of now, that's a by number over more can maybe and

Shawn Boyd

end, then XX So, out, with that that XXX and that's to to months by year to or out, XX of another expand so got so and per you XXX intention cadence quarter? years two what

Thomas Sandgaard

Exactly. Yeah.

Shawn Boyd

involve I you kind reps little bit of are perhaps that originally a XXXX thought might misunderstood but on refined a And just slowdown I this, territories. adding

little you're just kind that and the hires. seeing changed just wrong, you the accelerated good plan hiring bit on the or your a either you possibly payback Can because I So, -- got of you

Thomas Sandgaard

than month, what down independent but us adding attrition, I'd else, reps we some little maybe you're continue have We a not to bottlenecks, we as built or a cushion say of to So, really that buys the do aggressively it also is a to as productive, soon any possible. that some don't does have could bit expected it but in like sales as has if barriers fast trim right. as cushion little and a to I'd of are and slow resistance, since that bit, or XX reps higher

XX months, get can to or of XX be instead XXX the we XX in even if obviously months So, better. that'll

Shawn Boyd

Thank for you it. Got clarification. very much the

Thomas Sandgaard

Okay.

Operator

from question next ahead. Kevin comes Mackey The with Instructions] Analyst. go [Operator Please

Kevin Mackey

questions, appreciate Thank you many thank given give wondering how I'm exact and the me my that us taking also, help. quarter? you've your responses I this number on for Hi. orders more previously, you could you for a had privately. you if

Dan Moorhead

the exact comfortable give, the materials we we numbers we don't from semi-extrapolate decks get but what with. to disclosure order. those, you that the give have, in give the is growth we're we can percentages, and We The

Kevin Mackey

All metropolitan next push on excluded previously that you the excluded bidding bidding XX-K for into right. round previously and from nine competitive had you that And from? said. those plan XXXX? do were is December, guys last to in my for had correct, Medicare, markets, due program you is markets year working believe your ended in If understanding you the Are I

Thomas Sandgaard

and don't excluded are don't we plan on We from we No. markets. any really bidding, that see

Kevin Mackey

to the hampering through product you that, from physician curious of acceptance? Is it years, Is might And to sounds that just that but amazing it I you please? have getting hurdle patient environment? and benefit what in sales amount marketing report a a have stick. speak from the NeuroMove, personally acceptance? negligible could like Is that, NeuroMove. be If of I'm it stroke that a the continued device. to could you've it Okay. an the you had from know really people in terms

Thomas Sandgaard

Yeah, it is.

detect introduced, muscles. your The NeuroMove trying it's attempts be literally It a very so can revenue designed revenue unique from more when can exciting is the years few device. when total hands, it be could only when you're device attempting annually. used revenue and device. And and XX decent so move also we of than right. very had brain in came was our actually It ago, fingers the the a million NeuroMove a to a You're of home. to Nearly it amount half the from was extend dollars

NeuroMove therefore, on the decreased translates significant we've financial marketing lifting, that revenue heavy device. bit something promoting What efforts has of we quite happened since so is we've, require to until of see investment pain really creating recently, had that focus a terms it. that. also fairly company in growing limited profits decision get for resources. the market, We management and growing been will the into It's saw a in bigger to opportunity a deliberate on therefore significant Unfortunately, and a on the it's the in very revenue, of

much and some occasionally of lot We every sale, more new this option, do are with we there's patient-friendly stroke something of here. so could so There low obviously a in potential a have year programs sell it's we to XXX,XXX it as terms or self-pay promoting in survivors. clinical strokes more to of country, clinics relatively a

fortunately, the we bit, things call going thin, too to to little more force. spread still could of but do our answers you're one order in of I and revenue a the sales ourselves it's it somewhat focusing for on not as hope alluding diversify that pain market, -- point our management be However, same the of forward to, we're

Kevin Mackey

they also fielding FDA, Thank responding reports in blood have. what the mention monitor, better can might you. volume you helps progress a guys you're yeah, get be your for Yeah, been how the of kind just from that and we of feel that us questions to that responses so an you is coming? have lot. give idea your finally, what on Could a that those questions questions And

Thomas Sandgaard

additional fit done very back it standard We have There's to time. literally those while tests. that. In that over have changed get introduced some our so that meantime, to to of time pass application up a spent had nature was our safety getting and the questions framework. much beginning, to that as been on little time took been device done it a new the questions at in pointed that The write testing so inability those some additional the their

specific more through. to here five questions into to it wording trying the the combine the it we to get and used specific the so six recently, we have that an of they And XX-K as fits had into right getting clearances parameters framework are index, basically

aligned answering questions. the response, have should we a as with with and submitted recently, so should keep that So, a questions further response any the be things, nearly have they word-for-word bit luck, or just phrase suggestions how their we suggestions to don't of next us, to we'll else,

respond heavy, very are takes unfortunately, the get -- to back we they to getting have back there time any us. difficult months a of that round time technicalities just able right. get several summary, times really And then before questions. and some been It's -- every very in hasn't it we them, to to So, questions,

the forward moving of it's on unfortunately, kind CE somewhat And terms the it's of different all some in time. taking similar, So, Marking questions, process.

Kevin Mackey

placed. and last the up how quarter, are And many looks your for in that, ones if that growth revenue particular orders one it wondering kind you. but Thank for have, order your me, the I'm to department, numbers billing they're revenue speak be rough maybe what your from you understand reps that your you're like per orders went the to responsible rep you last just I per could sales went ran slightly. on the based collecting trying that after just some the revenue create it efficiency down there I because and

aware slightly, there. be that down if going of with wondering should anything So, we number just there's

Dan Moorhead

quarter, It's aren't or a There you reimbursement bring can it still when people large of any sales end really order so the submission. per the number or in quarter, in at have account of into productivity. the dollars beginning to the per you number that revenue take numbers, changes of huge skew headcount aren't

I aren't think say I your So, numbers correct. would

Kevin Mackey

for Thank it. you that. for All right. it That's Appreciate me.

Thomas Sandgaard

Okay, thanks again.

Operator

This conference Sandgaard any back and concludes answer like to for I would to over Thomas closing turn our question session. the remarks.

Thomas Sandgaard

Thank earnings and this I for in you. has to I appreciate on in Thank the hope today's all. interest day you call. listening Zynex and everyone, informative and a been great call

Operator

attending conference today's has now for concluded. The Thank you presentation.

You disconnect. now may

Zynex (ZYXI) 4 Aug 192019 Q2 Earnings call transcript