Zynex, Inc. (ZYXI) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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ZYXI Revenue Growth
Revenue Breakdown (FY 2024)
ZYXI's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
ZYXI Revenue Analysis (2013–2024)
As of May 8, 2026, Zynex, Inc. (ZYXI) generated trailing twelve-month (TTM) revenue of $108.2 million, reflecting significant decline in growth of -73.3% year-over-year. The most recent quarter (Q3 2025) recorded $13.4 million in revenue, down 40.1% sequentially.
Looking at the longer-term picture, ZYXI's 5-year compound annual growth rate (CAGR) stands at +33.4%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $192.4 million in 2024, representing a new all-time high.
Revenue diversification analysis shows ZYXI's business is primarily driven by Supplies (69%), and Device (31%). With over half of revenue concentrated in Supplies, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including STIM (+69.5% YoY), ENVA, and GMED (+23.5% YoY), ZYXI has underperformed the peer group in terms of revenue growth. Compare ZYXI vs STIM →
ZYXI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ZYXICurrent | $108M | -73.3% | +33.4% | 3.1% | |
 STIM | $149M | +69.5% | +24.8% | -21.1% | |
 ENVA | $3.2B | - | - | 23.5% | |
 GMED | $2.9B | +23.5% | +30.1% | 16.3% | |
 ABT | $42.0B | +6.4% | +5.6% | 16.3% | |
 MDT | $33.5B | +6.9% | +3.0% | 17.8% |
ZYXI Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $192.4M | +4.4% | $152.9M | 79.5% | $6.0M | 3.1% |
| 2023 | $184.3M | +16.5% | $146.0M | 79.2% | $10.8M | 5.8% |
| 2022 | $158.2M | +21.4% | $126.2M | 79.8% | $22.9M | 14.5% |
| 2021 | $130.3M | +62.6% | $103.4M | 79.3% | $22.4M | 17.2% |
| 2020 | $80.1M | +76.2% | $62.7M | 78.3% | $10.2M | 12.8% |
| 2019 | $45.5M | +42.5% | $36.7M | 80.6% | $11.1M | 24.3% |
| 2018 | $31.9M | +36.2% | $25.9M | 81.1% | $10.4M | 32.5% |
| 2017 | $23.4M | +76.0% | $18.6M | 79.4% | $8.9M | 38.2% |
| 2016 | $13.3M | +14.4% | $9.8M | 73.6% | $640K | 4.8% |
| 2015 | $11.6M | +4.7% | $6.7M | 57.6% | $-2,481,000 | -21.3% |
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Start ComparisonZYXI — Frequently Asked Questions
Quick answers to the most common questions about buying ZYXI stock.
Is ZYXI's revenue growth accelerating or slowing?
ZYXI revenue declined -73.3% year-over-year, contrasting with the 5-year CAGR of +33.4%. TTM revenue fell to $108M. This reverses the prior growth trend.
What is ZYXI's long-term revenue growth rate?
Zynex, Inc.'s 5-year revenue CAGR of +33.4% reflects the variable expansion pattern. Current YoY growth of -73.3% is below this long-term average.
How is ZYXI's revenue distributed by segment?
ZYXI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.