Zynex, Inc.

Good day, ladies and gentlemen, and welcome to the Zynex second quarter 2023 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, today's conference call is being recorded. At this time, I'd like to turn the floor over to Quinn Callanan from MZ North America. Please go ahead.

Thank you, operator, and good afternoon, everyone. Earlier today, Zynex released financial results for the second quarter ending June 30th, 2023. A copy of the press release is available on the company's website. Joining me on today's call are Thomas Sengard, Chairman, President, and Chief Executive Officer. Dan Morehead, Chief Financial Officer. Anat Lusak, Chief Operating Officer. And Donald Gregg, President of Zynex Monitoring Solutions. Before we begin, I'd like to remind you that during this conference call, the company will make projections and forward-looking statements regarding future events. We encourage you to review the company's past and future filings with the SEC, including, without limitation, the company's 2022 Form 10-K and subsequent Form 10-Qs, which identify the specific factors that may cause actual results or events to differ materially from those described in these forward-looking statements. These factors may include, without limitation, statements regarding product development, product potential, the regulatory environment, sales and marketing strategies, capital resources, or operating performance. With that, I'll now turn this call over to Thomas.

Thanks, Quinn, and good afternoon, everyone. Thank you for joining us today for the second quarter 2023 earnings call. The second quarter was highlighted by our continued momentum in both our pain management and pain monitoring divisions, leading us to our ninth consecutive quarter of profitability and fifth straight quarter of record high order numbers. We also once again received the highest number of prescriptions in the company's history, beating our previous record. These records led to total revenue for the quarter of $45 million, a 22% increase over the same period in 2022, and we produced $0.09 of earnings per diluted share. Our sales force continues to increase productivity and grow the market significantly each quarter, a testament to a great sales force, leadership, and great products. Orders increased 51% year-over-year, and we believe there's considerable runway for us to continue growing orders into the future. In addition to the impressive results from our profitable pain management division, CMS or Sinex monitoring solutions continue to move forward in the second quarter in the development of our blood and fluid monitor and our laser-based pulse oximeter. We were excited to announce FDA clearance for our second-generation blood and fluid volume monitor, a non-invasive and wireless technology targeted to improve patient outcomes with better fluid management in hospital settings. We continue to collect additional data in clinical trials, and Don Gregg will provide further updates on this product in his preparedness remarks. We have three additional products in the pipeline in our hospital monitoring products division. A laser-based pulse oximeter, the NICO, a monitor for early detection of sepsis, and also a non-invasive laser-based monitor of total hemoglobin levels, the HEMOX. The monitoring division is pre-revenue, and we expect to submit an application to the FDA for our laser-based pulse oximeter in the fourth quarter of this year. Overall, we're making great progress in the patient monitoring division, which we believe will have game-changing growth potential for the company. Looking ahead, We're making significant progress as a leader in at-home prescription strength pain management devices with a robust and durable business model and high recurring revenue. Not only am I proud of making a real dent into the opioid epidemic, but we also continue to execute operationally and strategically, diversifying the business with a ramp-up of our hospital monitoring products which represent a large and growing market opportunity. We expect to see consistent growth and strong financial performance for the second half of 2023, following the double-digit growth we produce year after year. We also expect additional catalyst and regulatory milestones in 2023 as we continue to execute in our strong pipeline of new products. We look forward to additional updates in the months to come, as we build our sales force and execute on our growth objectives to improve the quality of life of patients suffering from debilitating pain or illness and bring long-term value for our shareholders. With that, I will now turn the call over to Anna Luxock, our Chief Operating Officer, for a more detailed business update on the Pain Management Division.