Greenbrook Tms, Inc. (GBNHF) has released an update.
Greenbrook TMS Inc. has reported a 10% increase in annual revenue to a high of $73.8 million for the fiscal year 2023, despite closing 53 treatment centers and reducing marketing spend, following a comprehensive restructuring plan that achieved significant cost savings. Alongside these financial improvements, the company has also expanded its mental health treatment offerings with the introduction of the Spravato® nasal spray at 82 centers and a new medication management program at nine centers. Overall, the company has seen a 44% reduction in losses, indicating a strong move towards profitability and growth in mental health services.
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