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CORRECTION—Neuronetics Reports Record Third Quarter 2024 Financial and Operating Results

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Neuronetics (NASDAQ: STIM) reported Q3 2024 financial results with total revenue of $18.5 million, up 4% year-over-year. U.S. NeuroStar system revenue reached $4.1 million with 48 systems shipped. The company achieved a gross margin of 75.6%, up 980 basis points from Q3 2023. However, net loss widened to $(13.3) million. Stockholders approved the acquisition of Greenbrook TMS, expected to create a vertically integrated organization. The company expects Q4 2024 revenue between $19.0-$20.0 million and full-year revenue between $71.0-$72.0 million.

Neuronetics (NASDAQ: STIM) ha riportato i risultati finanziari del terzo trimestre 2024 con un fatturato totale di 18,5 milioni di dollari, in aumento del 4% rispetto all'anno precedente. I ricavi del sistema NeuroStar negli Stati Uniti hanno raggiunto i 4,1 milioni di dollari, con la spedizione di 48 sistemi. L'azienda ha ottenuto un margine lordo del 75,6%, in aumento di 980 punti base rispetto al terzo trimestre 2023. Tuttavia, la perdita netta è aumentata a 13,3 milioni di dollari. Gli azionisti hanno approvato l'acquisizione di Greenbrook TMS, che si prevede creerà un'organizzazione verticalmente integrata. L'azienda prevede ricavi per il quarto trimestre 2024 compresi tra 19,0 e 20,0 milioni di dollari e ricavi complessivi per l'intero anno tra 71,0 e 72,0 milioni di dollari.

Neuronetics (NASDAQ: STIM) reportó los resultados financieros del tercer trimestre de 2024 con unos ingresos totales de 18,5 millones de dólares, un incremento del 4% interanual. Los ingresos del sistema NeuroStar en EE. UU. alcanzaron los 4,1 millones de dólares con 48 sistemas enviados. La compañía logró un margen bruto del 75,6%, un aumento de 980 puntos básicos en comparación con el tercer trimestre de 2023. Sin embargo, la pérdida neta se amplió a 13,3 millones de dólares. Los accionistas aprobaron la adquisición de Greenbrook TMS, que se espera que cree una organización verticalmente integrada. La empresa espera que los ingresos del cuarto trimestre de 2024 se sitúen entre 19,0 y 20,0 millones de dólares y un ingreso total anual de entre 71,0 y 72,0 millones de dólares.

Neuronetics (NASDAQ: STIM)는 2024년 3분기 재무 결과를 보고했으며, 총 수익은 1,850만 달러로 전년 대비 4% 증가했습니다. 미국의 NeuroStar 시스템 수익은 410만 달러에 달하며, 48대의 시스템이 출하되었습니다. 이 회사는 75.6%의 매출 총 이익률을 달성했으며, 이는 2023년 3분기 대비 980 베이시스 포인트 증가한 수치입니다. 그러나 순손실은 1,330만 달러로 확대되었습니다. 주주들은 Greenbrook TMS의 인수를 승인했으며, 이는 수직 통합 조직을 창출할 것으로 예상됩니다. 이 회사는 2024년 4분기 수익이 1,900만에서 2,000만 달러 사이일 것으로 예상하며, 연간 총 수익은 7,100만에서 7,200만 달러 사이일 것으로 예상하고 있습니다.

Neuronetics (NASDAQ: STIM) a annoncé ses résultats financiers pour le troisième trimestre 2024, avec un chiffre d'affaires total de 18,5 millions de dollars, en hausse de 4% par rapport à l'année précédente. Les revenus du système NeuroStar aux États-Unis ont atteint 4,1 millions de dollars avec 48 systèmes expédiés. L'entreprise a réalisé une marge brute de 75,6%, soit une augmentation de 980 points de base par rapport au troisième trimestre 2023. Cependant, la perte nette a augmenté pour atteindre 13,3 millions de dollars. Les actionnaires ont approuvé l'acquisition de Greenbrook TMS, qui devrait créer une organisation intégrée verticalement. L'entreprise prévoit un chiffre d'affaires pour le quatrième trimestre 2024 compris entre 19,0 et 20,0 millions de dollars, et un chiffre d'affaires annuel total compris entre 71,0 et 72,0 millions de dollars.

Neuronetics (NASDAQ: STIM) hat die finanziellen Ergebnisse für das dritte Quartal 2024 mit einem Gesamterlös von 18,5 Millionen US-Dollar bekannt gegeben, was einem Anstieg von 4% im Vergleich zum Vorjahr entspricht. Die Erlöse des NeuroStar-Systems in den USA beliefen sich auf 4,1 Millionen US-Dollar, da 48 Systeme verschickt wurden. Das Unternehmen erzielte eine Bruttomarge von 75,6%, ein Anstieg um 980 Basispunkte im Vergleich zum dritten Quartal 2023. Allerdings weitet sich der Nettoverlust auf 13,3 Millionen US-Dollar aus. Die Aktionäre genehmigten die Übernahme von Greenbrook TMS, die voraussichtlich eine vertikal integrierte Organisation schaffen wird. Das Unternehmen erwartet für das vierte Quartal 2024 Einnahmen zwischen 19,0 und 20,0 Millionen US-Dollar sowie Gesamteinnahmen im Gesamtjahr zwischen 71,0 und 72,0 Millionen US-Dollar.

Positive
  • Revenue increased 4% YoY to $18.5 million
  • Gross margin improved significantly to 75.6%, up 980 basis points
  • U.S. NeuroStar system revenue grew 14% to $4.1 million
  • Treatment session revenue increased 2% to $13.3 million
Negative
  • Net loss increased to $(13.3) million from $(9.4) million YoY
  • Operating expenses increased 5% to $21.7 million
  • Cash position decreased to $20.9 million from $59.7 million in December 2023
  • International revenue declined 10%

Insights

The Q3 2024 results present a mixed financial picture. Revenue grew 4% to $18.5 million, with U.S. NeuroStar system sales up 14%. However, the net loss widened to $13.3 million from $9.4 million year-over-year. The acquisition of Greenbrook TMS marks a significant strategic shift, potentially creating the largest mental health treatment provider in the U.S. The projected cash flow breakeven by Q3 2025 and improved gross margins of 75.6% are positive indicators, but current cash position of $20.9 million shows significant burn from $59.7 million at 2023 year-end. The market guidance of $71-72 million for full-year 2024 suggests moderate growth trajectory.

The clinical data presented at AACAP demonstrates strong efficacy for NeuroStar TMS in adolescent depression treatment, with impressive response and remission rates of 78% and 48% respectively. As the only FDA-cleared TMS device for first-line adjunct treatment in patients aged 15-21, this positions the company well in the expanding youth mental health market. The milestone of treating over 188,000 global patients with 6.9 million sessions validates the technology's clinical adoption. The Greenbrook acquisition will enable faster SPRAVATO® treatment rollout and implementation of standardized best practices across a larger network, potentially improving patient outcomes.

MALVERN, Pa., Nov. 12, 2024 (GLOBE NEWSWIRE) -- In a release issued earlier today under the same headline by Neuronetics, Inc. (NASDAQ: STIM), please note that in the second paragraph of the "Stockholders Approve Acquisition of Greenbrook TMS" section, it should say that the Company expects to achieve cash flow breakeven by the third quarter of 2025, not the second. The corrected release follows:

Neuronetics, Inc. (NASDAQ: STIM) (the “Company” or “Neuronetics”) a commercial stage medical technology company with a strategic vision of transforming the lives of patients whenever and wherever they need help, with the best neurohealth therapies in the world, today announced its financial and operating results for the third quarter of 2024.

Third Quarter 2024 Highlights

  • Third quarter 2024 revenue of $18.5 million, a 4% increase as compared to the third quarter 2023
  • U.S. NeuroStar Advanced Therapy system revenue of $4.1 million in the quarter, representing 48 systems
  • U.S. treatment session revenue increased by 2% versus the third quarter of 2023

Recent Operational and Marketing Highlights

  • Neuronetics stockholders approved the acquisition of Greenbrook TMS on November 8, 2024
  • NeuroStar Oral Presentation at AACAP 2024 Highlights Largest Study Evaluating TMS Efficacy in Adolescents with Depression
  • Achieved milestone of over 188,000 global patients treated with 6.9 million treatment sessions

“We are very excited about the approval of the acquisition of Greenbrook TMS, which positions Neuronetics to be one of the largest, and most innovative provider of mental health care in the United States,” said Keith J. Sullivan, President and Chief Executive Officer of Neuronetics. “This strategic combination will significantly enhance our ability to expand access to mental health solutions through a unified commercial organization, while also creating opportunities to accelerate the rollout of additional services like SPRAVATO® across our network. By leveraging our complementary strengths - including Greenbrook’s extensive presence in the U.S. and Neuronetics’ industry-leading technology and training programs – we’re building an organization with the unique ability to increase patient access, improve outcomes, and ultimately, drive value for stockholders.”

Keith J. Sullivan continued, “Beyond the Greenbrook acquisition, we saw continued progress across our strategic initiatives in the third quarter, highlighted by strong momentum in our adolescent treatment program and encouraging early results from our targeted marketing efforts. We're more confident than ever in our ability to create meaningful value for patients, providers, and stockholders while advancing mental health treatment.”

Third Quarter 2024 Financial and Operating Results for the Three Months Ended September 30, 2024

           
  Revenues by Geography    
  Three Months Ended September 30,    
  2024 2023    
  Amount Amount % Change  
  (Unaudited; in thousands, except percentages)  
U.S. $17,922 $17,211 4 %
International  608  673 (10)%
Total revenues $18,530 $17,884 4 %
           

Total revenue for the three months ended September 30, 2024 was $18.5 million, an increase of 4% compared to the revenue of $17.9 million in the third quarter of 2023. During the quarter, total U.S. revenue increased by 4% and international revenue decreased marginally over the third quarter of 2023. The increase in U.S. revenue was primarily attributable to an increase in U.S. treatment sessions and U.S. NeuroStar Advanced Therapy System sales period over period.

           
  U.S. Revenues by Product Category    
  Three Months Ended September 30,    
  2024 2023    
  Amount Amount % Change  
  (Unaudited; in thousands, except percentages)  
NeuroStar Advanced Therapy System $4,108 $3,597 14 %
Treatment sessions  13,326 $13,060 2 %
Other  488 $554 (12)%
Total U.S. revenues $17,922 $17,211 4 %
           

U.S. NeuroStar Advanced Therapy System revenue for the three months ended September 30, 2024 was $4.1 million, an increase of 14% compared to $3.6 million in the third quarter of 2023. For the three months ended September 30, 2024, and 2023, the Company shipped 49 and 43 systems, respectively.

U.S. treatment session revenue for the three months ended September 30, 2024 was $13.3 million, an increase of 2% compared to $13.1 million in the third quarter of 2023.

In the third quarter of 2024, U.S. treatment session revenue per active site was $11,390 compared to $11,917 in the third quarter of 2023.

Gross margin for the third quarter of 2024 was 75.6%, an increase of approximately 980 basis points from the third quarter of 2023 gross margin of 65.8%. The increase in gross margin was a result of the change in product mix, the absence of one-time manufacturing cost by our new contract manufacturer and inventory impairment incurred in 2023.

Operating expenses during the third quarter of 2024 were $21.7 million, an increase of $1.1 million, or 5%, compared to $20.6 million in the third quarter of 2023.

Net loss for the third quarter of 2024 was $(13.3) million, or $(0.44) per share, as compared to $(9.4) million, or $(0.33) per share, in the third quarter of 2023. Net loss per share was based on 30,267,236 and 28,875,720 weighted average common shares outstanding for the third quarters of 2024 and 2023, respectively.

EBITDA for the third quarter of 2024 was $(11.6) million as compared to the third quarter of 2023 EBITDA of $(7.7) million. See the accompanying financial table that reconciles EBITDA, which is a non-GAAP financial measure, to net loss.

Cash and cash equivalents were $20.9 million as of September 30, 2024. This compares to cash and cash equivalents of $59.7 million as of December 31, 2023.

Stockholders Approve Acquisition of Greenbrook TMS

On November 8, 2024, Neuronetics’ stockholders approved the previously announced acquisition of Greenbrook TMS Inc. (“Greenbrook”), in which Neuronetics will acquire all of the outstanding common shares of Greenbrook in an all-stock transaction. The next step in finalizing the transaction is a hearing in respect of the Final Order pursuant to the Ontario Business Corporations Act scheduled for November 15, 2024. The transaction will create a vertically integrated organization capable of providing access to mental health treatment with significant scale in the U.S. The transaction offers multiple strategic benefits for Neuronetics and its customers, including increased brand awareness for NeuroStar, more consistent delivery of best practices, and the ability to offer a variety of positive benefits for all NeuroStar customers. Beyond the strategic benefits, the transaction is expected to create compelling financial benefits, including increased revenue scale and a strong growth trajectory, material cost synergies, an accelerated path to profitability, and a bolstered balance sheet.

The Company has outlined several key strategic initiatives, including merging Neuronetics’ sales team with Greenbrook's regional area managers to optimize commercial operations, implementing the Better Me Provider Program best practices across all Greenbrook sites, and accelerating the rollout of SPRAVATO® treatment across the combined network. Through these initiatives and additional identified opportunities to optimize the combined company's cost structure in connection with the transaction, the Company now expects to achieve cash flow breakeven by the third quarter of 2025.

NeuroStar TMS Data Presented at Leading Child & Adolescent Psychiatry Conference Shows Strong Efficacy in Treating Teen Depression

At the 2024 American Academy of Child and Adolescent Psychiatry (“AACAP”) annual meeting, Neuronetics presented data from the largest study to date evaluating transcranial magnetic stimulation (“TMS”) in adolescents with major depressive disorder. In an oral presentation, Paul E. Croarkin, DO, MS of Mayo Clinic shared compelling results showing NeuroStar's strong efficacy in treating Major Depressive Disorder (“MDD”) in adolescent patients, with impressive response and remission rates of 78% and 48% respectively. The findings were similar to those previously reported in adult populations treated with NeuroStar TMS including clinically meaningful improvement in anxiety symptoms in this MDD population. As the only FDA-cleared TMS device for first-line adjunct treatment of MDD in patients aged 15-21, these findings further establish NeuroStar's leadership in providing innovative solutions for adolescent mental health treatment.

Business Outlook

For the fourth quarter of 2024, on a stand alone basis, the Company expects total worldwide revenue between $19.0 million and $20.0 million.

For the full year 2024, on a stand alone basis the Company now expects total worldwide revenue to be between $71.0 million and $72.0 million.

For the full year 2024, on a stand alone basis, the Company now expects total operating expenses to be between $81.0 million and $82.0 million. This forecast excludes pre-closing transaction costs of approximately $2.0 million.

Webcast and Conference Call Information

Neuronetics’ management team will host a conference call on November 12, 2024, beginning at 8:30 a.m. Eastern Time.

The conference call will be broadcast live in listen-only mode via webcast at https://edge.media-server.com/mmc/p/yk5bidgv. To listen to the conference call on your telephone, you may register for the call here. While it is not required, it is recommended you join 10 minutes prior to the event start.

About Neuronetics

Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations with its NeuroStar Advanced Therapy for Mental Health. NeuroStar is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication hasn’t helped. The NeuroStar Advanced Therapy System is cleared by the U.S. Food and Drug Administration (the “FDA”) for adults with MDD, as an adjunct for adults with obsessive-compulsive disorder, and to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression), and as a first line adjunct for the treatment of MDD in adolescent patients aged 15-21. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with more than 6.9 million treatments delivered. NeuroStar is backed by the largest clinical data set of any TMS treatment system for depression, including the world’s largest depression outcomes registry. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety information and indications for use, visit NeuroStar.com.

“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995:

Statements in the press release regarding the Company that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “outlook,” “potential,” “believe,” “expect,” “plan,” “anticipate,” “predict,” “may,” “will,” “could,” “would” and “should” as well as the negative of these terms and similar expressions. These statements include those relating to the Company’s business outlook and current expectations for upcoming quarters and fiscal year 2024, including with respect to revenue, expenses, growth, and any statements of assumptions underlying any of the foregoing items. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to: the effect of the Arrangement with Greenbrook, initially announced on August 11, 2024 and approved by Greenbrook’s shareholders and Neuronetics stockholders on November 8, 2024, on our business relationships, operating results and business generally; the Company’s ability to execute its business strategy; the Company’s ability to achieve or sustain profitable operations due to its history of losses; the Company’s reliance on the sale and use of its NeuroStar Advanced Therapy system to generate revenues; the scale and efficacy of the Company’s salesforce; the Company’s ability to retain talent; availability of coverage and reimbursement from third-party payors for treatments using the Company’s products; physician and patient demand for treatments using the Company’s products; developments in competing technologies and therapies for the indications that the Company’s products treat; product defects; our revenue has been concentrated among a small number of customers; the Company’s ability to obtain and maintain intellectual property protection for its technology; developments in clinical trials or regulatory review of NeuroStar Advanced Therapy system for additional indications; developments in regulation in the U.S. and other applicable jurisdictions; the terms of our credit facility; our ability to successfully roll-out our Better Me Provider program on the planned timeline; our self-sustainability and existing cash balances; and our ability to achieve cash flow break-even in the third quarter of 2025. For a discussion of these and other related risks, please refer to the Company’s recent filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this press release. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, or changes in the Company’s expectations.

Investor Contact:

Mike Vallie or Mark Klausner
ICR Healthcare
443-213-0499
ir@neuronetics.com

Media Contact:

EvolveMKD
646-517-4220
NeuroStar@evolvemkd.com

             
NEURONETICS, INC.
Statements of Operations
(Unaudited; In thousands, except per share data)
             
  Three Months ended Nine months ended
  September 30, September 30,
  2024 2023
 2024
 2023
Revenues $18,530  $17,884  $52,397  $51,034 
Cost of revenues  4,529   6,120   13,129   15,100 
Gross profit  14,001   11,764   39,268   35,934 
Operating expenses:            
Sales and marketing  11,877   12,141   35,820   35,602 
General and administrative  7,436   6,339   19,540   19,151 
Research and development  2,416   2,155   6,999   7,308 
Total operating expenses  21,729   20,635   62,359   62,061 
Loss from operations  (7,728)  (8,871)  (23,091)  (26,127)
Other (income) expense:            
Interest expense  1,725   1,184   5,529   3,580 
Loss on extinguishment of debt  4,427      4,427    
Other income, net  (539)  (664)  (2,001)  (4,895)
Net loss $(13,341) $(9,391) $(31,046) $(24,812)
Net loss per share of common stock outstanding, basic and diluted $(0.44) $(0.33) $(1.04) $(0.87)
Weighted average common shares outstanding, basic and diluted  30,267   28,876   29,931   28,505 
                 


       
NEURONETICS, INC.
Balance Sheets
(Unaudited; In thousands, except per share data)
       
  September 30, December 31,
  2024
 2023
Assets      
Current assets:      
Cash and cash equivalents $20,867  $59,677 
Accounts receivable, net  16,825   15,782 
Inventory  4,960   8,093 
Current portion of net investments in sales-type leases  572   905 
Current portion of prepaid commission expense  2,921   2,514 
Current portion of note receivables  2,477   2,056 
Prepaid expenses and other current assets  4,837   4,766 
Total current assets  53,459   93,793 
Property and equipment, net  1,639   2,009 
Operating lease right-of-use assets  2,328   2,773 
Net investments in sales-type leases  140   661 
Prepaid commission expense  8,733   8,370 
Long-term notes receivable  2,878   3,795 
Other assets  4,940   4,430 
Total assets $74,117  $115,831 
Liabilities and Stockholders’ Equity      
Current liabilities:      
Accounts payable $3,295  $4,752 
Accrued expenses  11,429   12,595 
Deferred revenue  1,311   1,620 
Current portion of operating lease liabilities  862   845 
Total current liabilities  16,897   19,812 
Long-term debt, net  46,002   59,283 
Deferred revenue  4   200 
Operating lease liabilities  1,833   2,346 
Total liabilities  64,736   81,641 
Commitments and contingencies (Note 18)      
Stockholders’ equity:      
Preferred stock, $0.01 par value: 10,000 shares authorized; no shares issued or outstanding on September 30, 2024 and December 31, 2023      
Common stock, $0.01 par value: 200,000 shares authorized; 30,317 and 29,092 shares issued and outstanding on September 30, 2024 and December 31, 2023, respectively  303   291 
Additional paid-in capital  416,205   409,980 
Accumulated deficit  (407,127)  (376,081)
Total Stockholders’ equity  9,381   34,190 
Total liabilities and Stockholders’ equity $74,117  $115,831 
         


       
NEURONETICS, INC.
Statements of Cash Flows
(Unaudited; In thousands)
       
  Nine months ended September 30,
  2024
 2023
Cash flows from Operating activities:      
Net loss $(31,046) $(24,812)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization  1,627   1,503 
Allowance for credit losses  1,947   369 
Inventory impairment  346   1,905 
Share-based compensation  4,320   5,693 
Non-cash interest expense  580   460 
Loss on extinguishment of debt  4,427    
Changes in certain assets and liabilities:      
Accounts receivable, net  (3,834)  (7,933)
Inventory  2,718   (2,742)
Net investment in sales-type leases  854   1,092 
Prepaid commission expense  (770)  (804)
Prepaid expenses and other assets  (374)  (3,338)
Accounts payable  (1,524)  54 
Accrued expenses  (1,166)  (4,801)
Deferred revenue  (506)  (817)
Net Cash used in Operating activities  (22,401)  (34,171)
       
Cash flows from Investing activities:      
Purchases of property and equipment and capitalized software  (1,377)  (1,490)
Repayment of notes receivable  1,340   731 
Net Cash used in Investing activities  (37)  (759)
       
Cash flows from Financing activities:      
Payments of debt issuance costs  (2,188)  (863)
Proceeds from issuance of long-term debt  48,084   2,500 
Proceeds from issuance of warrants  1,916    
Repayment of long-term debt  (60,000)  (1,200)
Payment for debt extinguishment cost  (4,185)   
Proceeds from exercises of stock options  1    
Net Cash (used in) provided by Financing activities  (16,372)  437 
Net decrease in Cash and Cash equivalents  (38,810)  (34,493)
Cash and Cash equivalents, Beginning of Period  59,677   70,340 
Cash and Cash equivalents, End of Period $20,867  $35,847 
         

Non-GAAP Financial Measures (Unaudited)

EBITDA is not a measure of financial performance under generally accepted accounting principles in the U.S. (“GAAP”), and should not be construed as a substitute for, or superior to, GAAP net loss. However, management uses both the GAAP and non-GAAP financial measures internally to evaluate and manage the Company’s operations and to better understand its business. Further, management believes that the addition of the non-GAAP financial measure provides meaningful supplementary information to, and facilitates analysis by, investors in evaluating the Company’s financial performance, results of operations and trends. The Company’s calculation of EBITDA may not be comparable to similarly designated measures reported by other companies, because companies and investors may differ as to what type of events warrant adjustment.

The following table reconciles reported net loss to EBITDA:

             
  Three Months ended Nine months ended
  September 30, September 30,
  2024
 2023
 2024
 2023
  (in thousands) (in thousands)
Net loss $(13,341) $(9,391) $(31,046) $(24,812)
Interest expense, net  1,186   1,184   3,528   3,580 
Income taxes            
Depreciation and amortization  512   500   1,627   1,503 
EBITDA $(11,643) $(7,707) $(25,891) $(19,729)
                 

FAQ

What was Neuronetics (STIM) Q3 2024 revenue?

Neuronetics reported Q3 2024 revenue of $18.5 million, representing a 4% increase compared to Q3 2023.

How many NeuroStar systems did STIM ship in Q3 2024?

The company shipped 49 NeuroStar systems in Q3 2024, compared to 43 systems in Q3 2023.

When does STIM expect to achieve cash flow breakeven?

Neuronetics expects to achieve cash flow breakeven by the third quarter of 2025.

What is STIM's revenue guidance for full-year 2024?

Neuronetics expects total worldwide revenue between $71.0 million and $72.0 million for full-year 2024.

Neuronetics, Inc.

NASDAQ:STIM

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