Dan Moorhead joined Zynex Medical as the chief financial officer in 2017 when the company was in its nascent stage, boasting fewer than 50 employees and generating less than $20 million. Moorhead played a pivotal role in shaping the financial strategy and infrastructure that propelled Zynex to its current stature as a public company on Nasdaq.
Zynex Medical is an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation and patient monitoring. The company has a mission to improve the quality of life for patients suffering from debilitating pain or illness by providing the highest technology and service standards in the electrotherapy industry.
Moorhead’s strategic financial planning and execution at Zynex Medical were instrumental in managing the company’s growth trajectory, navigating challenges and capitalizing on market opportunities. Under Moorhead’s leadership, the company has experienced remarkable expansion, now boasting a workforce of over 1,100 employees and nearly $200 million in revenue.
“His expertise in financial management and stewardship has not only contributed to the company’s robust financial health but has also played a crucial role in securing Zynex’s position as a publicly traded entity,” said his colleagues. “Dan Moorhead’s leadership has been marked by a commitment to fiscal responsibility, transparency and strategic decision-making, making him an indispensable figure in Zynex’s journey from a promising startup to a thriving, publicly traded company on the Nasdaq.”
Moving forward, Moorhead said he envisions an ambitious trajectory for the company over the next five years, aiming to grow revenue to $800 million with a key focus on optimizing operational processes, enhancing the supply chain and adopting cost-effective measures.
Prior to his role at Zynex Medical, Moorhead was chief financial officer of Evolving Systems after serving as vice president of finance and administration and in other financial management roles.
The path to becoming a CFO of a publicly traded company is paved with continuous learning, strategic thinking and unwavering dedication, said Moorhead. “I would encourage my younger self to embrace opportunities to broaden your financial knowledge, and hone your skills in areas beyond traditional finance,” he said. “Stay adaptable in the face of change, as the financial world is dynamic and requires flexibility.”
Moorhead said as a leader, he relies on his unwavering attention to detail. “My keen eye for detail allows me to identify potential risks and opportunities that others may overlook, enabling strategic decision-making that drives the company’s financial success,” he said. “Whether it’s analyzing financial statements or scrutinizing budgets, my dedication to precision ensures that every dollar is accounted for and optimized to achieve our strategic goals.”
