Neuronetics ( (STIM) ) has released its Q3 earnings. Here is a breakdown of the information Neuronetics presented to its investors.
Neuronetics, Inc. is a commercial-stage medical technology company focused on transforming neurohealth therapies, particularly known for its NeuroStar Advanced Therapy system for mental health conditions such as major depressive disorder.
In its latest earnings report for the third quarter of 2024, Neuronetics revealed a 4% increase in revenue compared to the same quarter in the previous year, reaching $18.5 million. The company also highlighted the approval of its acquisition of Greenbrook TMS, positioning Neuronetics as a leading provider of mental health care in the U.S.
Key financial performance metrics for Neuronetics included a 14% rise in revenue from the NeuroStar Advanced Therapy System and a modest 2% increase in treatment session revenue. Despite these increases, the company reported a net loss of $13.3 million for the quarter, with operating expenses rising by 5%. The acquisition of Greenbrook TMS is expected to drive growth and profitability by combining resources and expanding treatment access.
Neuronetics’ presentation at the AACAP conference demonstrated strong efficacy of TMS in treating adolescent depression, further establishing its leadership in mental health solutions. Looking ahead, Neuronetics projects its full-year 2024 revenue to be between $71 million and $72 million while aiming for cash flow breakeven by the second quarter of 2025.
