Zynex, Inc.

Good afternoon, ladies and gentlemen, and welcome to the Zynex second quarter 2025 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, this conference is being recorded. I would now like to turn the conference over to Dan Moorhead, Chief Financial Officer of Zynex. Please go ahead.

Thank you, Operator, and good afternoon, everyone. Earlier today, we released financial results for the second quarter ended June 30th, 2025. A copy of the press release is available on the company's website. 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 2024 Form 10-K and subsequent Form 10-Qs, along with any amendments 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 and legal environment, sales and marketing strategies, capital resources, or other operating performance. With that, I'll now turn the call over to Thomas.

Thank you, Dan, and good afternoon, everyone. Thank you for joining us today for the second quarter 2025 earnings call. With me today are Anna Locksock, our Chief Operating Officer, Don Gregg, President of Sanix Monitoring, and Dan Moorhead, our Chief Financial Officer. Anna will provide an update on our initiatives in the Pain Management Division, and Don Gregg will discuss how far we have come in our patient monitoring division and our recent submission to the FDA for our NICO pulse oximeter. Dan will go through the second quarter's financial results. The second quarter of 2025 was dominated by many improvements centered around refocusing our pain management business model, not only reshaping our sales force and redirecting them to slightly different call points, but also transforming our corporate structures to better reflect and streamline operations. Later this year and into the next year, we'll see the impact of this effort. We're seeing a reduction to overall expenses of approximately $40 million annualized and a more efficient use of our inventories, better supply chain management, a more diversified prescriber and payer customer base, all in support of our goal to return to positive cash flow by the end of this year. We recently announced the addition of Steven Dyson as our new CEO, and Steven brings over 25 years of experience in the medical technology sector, primarily through his leadership at Apex, a global private equity firm. Steven brings deep expertise and a proven track record in the medical sector, His leadership will be helpful as we focus our business strategy toward a more optimized payer mix and work to return Cynics to a strong growth trajectory. His start date is August 18th and I look forward to working with him in my new role as just chairman of the board. I should also mention that he and I are very aligned on all the major things that needs to get done. In another also important development Dan Moorhead, our CFO of AGS, has recently resigned as announced in our 8K filing two days ago. He's on the call today and available to answer questions. As soon as we have a replacement appointed, we'll update everyone immediately, of course. As I'm sure most of our listeners know, we submitted the FDA application on our NECO laser pulse oximeter back in May. This product It marks a historic milestone in the evolution of pulse oximetry and is a major game changer in our mission to improve the quality of care and patient outcomes with unique breakthrough technologies in our hospital monitoring division. We are encouraged by the early attention we have received from the FDA and the line of questions we have answered already. We expect at least one more round of questions that will take several months before clearance Don will provide you with more details on this exciting development. And the TRICARE temporary payment suspension is still ongoing, and it's hard to predict exactly how long it would take before we have a resolution to this. We are obviously hopeful that it will be sooner rather than later. We are actively cooperating with DHA and TRICARE in their claims reviews, and we are advocating for the cessation of the payment suspension. In support of TRICARE's goals of patient care, we've also agreed to continue servicing existing TRICARE patients, and we are honoring prescriptions for new patients. While we are working on a resolution with TRICARE, we are redirecting our focus to fully operate without relying on TRICARE's revenue. We are committed to diversifying our revenue streams even more, and during the quarter, we continued our efforts to refocus our sales force and operations to reflect the current landscape of insurance coverage and have made significant strides towards improving cash flow. This has included several efficiency improvements in our internal operations, relocating staff to more profitable business units, reducing our cost of goods sold, updating our sales management structures while driving the sales force in the field to become more efficient and productive. Our efforts to redirect our sales force and reduce expenses internally are beginning to take effect now. And over the next several quarters, it will naturally show as improvements to our bottom line. We've reported net revenue of $22 million in the quarter while we collected $26 million in cash in the second quarter. We posted a net loss of $20 million, while more than half of that was due to a non-cash adjustment to our tax allowance. We strongly believe in our commitment to help patients with the best product for pain relief without side effects that are associated typically with opioids. We are confident that our efforts to reduce cost and redirecting our sales force will be pivotal to improve cash flow and create a foundation for continuing to grow into the huge demand for our products. Our revenue is becoming more diversified with increased call points, increasing sales of other products, technologies, and more end users. We are very optimistic about the future of Cynics as we have proven to be a business that can grow comfortably. I'll now turn the call over to Anna Loksov to provide a more detailed update on the operations. Anna?