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Helius Medical Technologies (HSDT)
NASDAQ:HSDT
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Helius Medical Technologies
(NASDAQ:HSDT)
Rating:37Underperform
Price Target:
$0.00
▼(-100.00%Downside)
Positive Factors
Clinical Study Results
HSDT announced positive results from the PoNS Therapeutic Experience Program, or PoNSTEP, study for people with multiple sclerosis.
Reimbursement Approval
UnitedHealthcare has approved reimbursement for the PoNS device, adding a second private payer to provide coverage.
Negative Factors
CMS Reimbursement Decision
The unfavorable CMS reimbursement decision remains a significant barrier, limiting access to a key patient population and dampening near-term US revenue potential.
Reimbursement Uncertainty
The ongoing reimbursement headwind continues to limit access to key patient populations and suppress near-term growth.
Helius Medical Technologies (HSDT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.02M
Dividend YieldN/A
Average Volume (3M)13.20M
Price to Earnings (P/E)―
Beta (1Y)-0.30
Revenue Growth-35.03%
EPS Growth59.34%
CountryUS
Employees21
SectorHealthcare
Sector Strength44
IndustryMedical - Devices
Share Statistics
EPS (TTM)-8.70
Shares Outstanding700,000
10 Day Avg. Volume12,741,123
30 Day Avg. Volume13,203,685
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.25
Price to Sales (P/S)0.00
P/FCF Ratio>-0.01
Enterprise Value/Market Cap-0.17
Enterprise Value/Revenue-0.49
Enterprise Value/Gross Profit6.83
Enterprise Value/Ebitda0.02
Forecast
1Y Price Target
$2.90Price Target Upside-66.28% Downside
Rating ConsensusHold
Number of Analyst Covering1
Helius Medical Technologies Business Overview & Revenue Model
Company DescriptionHelius Medical Technologies, Inc., a neurotechnology company, focuses on developing, licensing, and acquiring non-invasive technologies for the treatment of symptoms caused by neurological disease or trauma. Its product, Portable Neuromodulation Stimulator (PoNS), is a non-surgical medical device intended for use as a short term treatment of gait deficit due to symptoms from multiple sclerosis and balance deficit due to mild-to-moderate traumatic brain injury, as well as to be used in conjunction with supervised therapeutic exercise. The company is headquartered in Newtown, Pennsylvania.
How the Company Makes MoneyHelius Medical Technologies generates revenue primarily through the sale and licensing of its PoNS device. The company collaborates with healthcare providers, rehabilitation centers, and clinics to distribute its device to patients in need of balance and gait therapy. Additionally, Helius may enter into strategic partnerships or licensing agreements with other organizations to expand its market reach and enhance its product offerings, which can also contribute to its revenue streams. The company's earnings are influenced by factors such as regulatory approvals, clinical study outcomes, and the overall adoption of its technology in the medical community.
Helius Medical Technologies Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q2-2024)
| % Change Since: -95.88%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call presented several significant achievements, particularly in terms of partnerships, insurance reimbursements, and progress toward stroke authorization. However, it also highlighted a decrease in revenue year-over-year and a flat operating loss, suggesting financial challenges. Despite these lowlights, the positive developments in market access and potential revenue growth indicate a cautiously optimistic outlook.Q2-2024 Updates
Positive Updates
Partnership with Lovell Government Services
In April, Helius Medical partnered with Lovell Government Services to make PoNS Therapy accessible to MS patients treated at the VA and through other federal agencies, potentially benefiting 65,000 to 70,000 veterans in the U.S. living with MS.
Major Insurance Reimbursement
In May, Helius Medical received the first third-party reimbursement of $23,900 from a major insurance carrier for a PoNS device, marking a significant milestone in establishing market pricing.
Inclusion in Government Contracts
PoNS was approved for inclusion in the VA federal supply schedule and the General Services Administration Advantage contracts, as well as in Lovell's DAPA contract for the Department of Defense with established pricing.
Progress in Stroke Authorization
Significant progress was made towards stroke authorization in the U.S., with full enrollment in the registration program, aiming for FDA submission in 2025.
Revenue Increase Over Previous Quarter
Revenue for Q2 2024 was up 35% compared to Q1 2024 due to increased sales in both the U.S. and Canada.
Negative Updates
Year-over-Year Revenue Decline
Total revenue for Q2 2024 was $182,000, a decrease of $74,000 compared to Q2 2023 due to the termination of the Patient Therapy Access Program and temporary cash pay pricing.
Flat Operating Loss
The operating loss for Q2 2024 was $3.2 million, the same as the prior year period, indicating no improvement in reducing losses.
Company Guidance
During the second quarter of 2024, Helius Medical Technologies made significant progress in expanding access to its PoNS Therapy, particularly for veterans with MS. Key accomplishments include partnering with Lovell Government Services, securing approvals for inclusion in VA and GSA contracts, with pricing set at $23,843.72 for the PoNS device and $7,344.97 for the mouthpiece. Additionally, the therapy received its first third-party reimbursement of $23,900. PoNS was also approved for the Department of Defense’s DAPA contract, with device pricing at $23,724.50 and the mouthpiece at $7,308.25. These milestones are critical as Helius seeks CMS reimbursement, with HCPCS codes already assigned and final rates expected to be published soon. The company is also advancing its stroke authorization initiative, with studies underway in the U.S. and Canada, aiming for FDA submission in 2025. Financially, the company reported $182,000 in revenue for Q2 2024, a decrease from the previous year, but saw a 35% increase from Q1 2024 due to rising sales in the U.S. and Canada. Operating losses remained steady at $3.2 million, with a net loss of $1.6 million in the quarter.Helius Medical Technologies Financial Statement Overview
Summary
Helius Medical Technologies is facing significant financial challenges with declining revenue and profitability. The company has been operating at a loss for several years, affecting both cash flow and equity. While leverage remains low, the overall financial health is strained by negative earnings and cash flow.Income Statement
Helius Medical Technologies has shown declining revenue over recent years with a significant drop from $644,000 in 2023 to $520,000 in 2024. The company reports consistent net losses, with a net profit margin of -2257.69% in 2024. The EBIT and EBITDA margins are both negative, indicating operational difficulties. Revenue growth is negative, further reflecting the challenging business environment.30
Negative
Balance Sheet
The company's balance sheet reveals a highly leveraged position with a debt-to-equity ratio of 0.01 in 2024, indicating minimal use of debt financing. However, stockholders' equity has decreased over time, reducing financial strength. The equity ratio is 29.89%, suggesting a moderate reliance on equity financing. Return on equity is negative due to consistent net losses.40
Negative
Cash Flow
The cash flow statement indicates negative free cash flow of -$11,046,000 in 2024, signaling cash flow challenges. The operating cash flow to net income ratio is negative, reflecting poor cash generation from operations compared to net losses. Despite some financing cash inflows, the company struggles with cash outflows, impacting its liquidity position.35
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 434.00K | 520.00K | 644.00K | 787.00K | 522.00K | 661.00K |
| Gross Profit | -146.00K | -62.00K | 61.00K | 324.00K | 224.00K | -90.00K |
| EBITDA | -14.41M | -13.80M | -12.11M | -14.50M | -17.82M | -13.65M |
| Net Income | -13.06M | -11.74M | -8.85M | -14.07M | -18.13M | -14.13M |
Balance Sheet | ||||||
| Total Assets | 3.48M | 3.54M | 7.69M | 17.29M | 14.10M | 6.55M |
| Cash, Cash Equivalents and Short-Term Investments | 1.11M | 1.09M | 5.18M | 14.55M | 11.01M | 3.33M |
| Total Debt | 0.00 | 12.00K | 57.00K | 110.00K | 3.00K | 91.00K |
| Total Liabilities | 2.20M | 2.48M | 5.34M | 9.14M | 2.85M | 2.68M |
| Stockholders Equity | 1.28M | 1.06M | 2.35M | 8.15M | 11.26M | 3.87M |
Cash Flow | ||||||
| Free Cash Flow | -11.58M | -11.05M | -10.45M | -14.33M | -13.44M | -11.80M |
| Operating Cash Flow | -11.58M | -11.04M | -10.42M | -14.31M | -13.39M | -11.74M |
| Investing Cash Flow | 0.00 | -5.00K | -29.00K | -11.00K | -56.00K | -9.00K |
| Financing Cash Flow | 9.05M | 6.95M | 1.08M | 17.87M | 21.13M | 9.64M |
Helius Medical Technologies Technical Analysis
Negative
8.60
Price Trends
142.20
Negative
234.86
Negative
349.70
Negative
Market Momentum
-42.25
Negative
20.65
Positive
3.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HSDT, the sentiment is Negative. The current price of 8.6 is below the 20-day moving average (MA) of 40.50, below the 50-day MA of 142.20, and below the 200-day MA of 349.70, indicating a bearish trend. The MACD of -42.25 indicates Negative momentum. The RSI at 20.65 is Positive, neither overbought nor oversold. The STOCH value of 3.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HSDT.
Helius Medical Technologies Risk Analysis
Helius Medical Technologies disclosed 45 risk factors in its most recent earnings report. Helius Medical Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Helius Medical Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $10.38M | 0.85 | -499.57% | ― | -33.92% | ― | |
53 Neutral | $22.79M | ― | -450.47% | ― | 9.47% | 81.37% | |
51 Neutral | $7.55B | 0.39 | -61.90% | 2.32% | 17.14% | 1.55% | |
45 Neutral | $9.43M | ― | -45.38% | ― | -48.61% | 32.18% | |
43 Neutral | $3.68M | ― | -218.77% | ― | -33.67% | 91.72% | |
42 Neutral | $8.08M | ― | -155.20% | ― | 9.90% | 94.56% | |
37 Underperform | $6.02M | ― | -800.00% | ― | -35.03% | 59.34% |
* Healthcare Sector Average
Performance Comparison
HSDT
Helius Medical Technologies
8.60
-697.22
-98.78%
NURO
Neurometrix
4.58
0.85
22.79%
SINT
Sintx Technologies
3.19
-1.46
-31.40%
PAVM
PAVmed
0.62
-0.09
-12.68%
VVOS
Vivos Therapeutics
3.87
1.47
61.25%
TIVC
Tivic Health Systems
3.95
-2.34
-37.20%
Helius Medical Technologies Corporate Events
Delistings and Listing ChangesStock Split
Helius Medical Approves Reverse Stock Split Plan
Neutral
Jun 27, 2025
On June 20, 2025, Helius Medical Technologies‘ Board of Directors approved a 1-for-50 reverse stock split of its Class A common stock, effective July 1, 2025, to meet Nasdaq’s listing requirements. This move will reduce the number of outstanding shares from approximately 33.8 million to 0.7 million, while the stock will continue trading under the symbol ‘HSDT’ on a split-adjusted basis starting July 1, 2025.
The most recent analyst rating on (HSDT) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Helius Medical Technologies stock, see the HSDT Stock Forecast page.
Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
Helius Medical Raises $8.1M to Meet Nasdaq Compliance
Positive
Jun 23, 2025
Helius Medical Technologies, Inc. faced a compliance issue with Nasdaq’s minimum stockholders’ equity requirement after their equity fell below $2.5 million as of December 31, 2024. On June 6, 2025, the company completed a public offering raising approximately $8.1 million, which helped them meet the equity requirement. As of June 17, 2025, Helius Medical Technologies believes it has regained compliance and awaits Nasdaq’s confirmation for continued listing.
The most recent analyst rating on (HSDT) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Helius Medical Technologies stock, see the HSDT Stock Forecast page.
Private Placements and FinancingShareholder Meetings
Helius Medical Expands Equity Plan Amid Share Increase
Neutral
Jun 20, 2025
Helius Medical Technologies announced that its Board of Directors approved an amendment to the 2022 Equity Incentive Plan, increasing the number of shares of common stock by 20% of the Fully Diluted Shares. This amendment was approved by stockholders on May 23, 2025, and resulted in an increase to 7.1 million shares available under the plan as of June 16, 2025, following a public offering.
The most recent analyst rating on (HSDT) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Helius Medical Technologies stock, see the HSDT Stock Forecast page.
Delistings and Listing ChangesRegulatory Filings and Compliance
Helius Medical Technologies Achieves Nasdaq Bid Price Compliance
Neutral
Jun 4, 2025
On June 3, 2025, Helius Medical Technologies received formal notification from Nasdaq confirming its compliance with the Nasdaq Listing Rule 5550(a)(2), which requires a minimum closing bid price of $1.00 per share. Despite this compliance, the company must still meet the equity requirement by June 30, 2025, to fulfill all Nasdaq listing criteria, keeping the Nasdaq Listing Qualifications hearing process open until then.
The most recent analyst rating on (HSDT) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Helius Medical Technologies stock, see the HSDT Stock Forecast page.
Shareholder MeetingsStock SplitBusiness Operations and StrategyRegulatory Filings and Compliance
Helius Medical Approves Reverse Stock Split and Share Increase
Neutral
May 23, 2025
At a special meeting on May 23, 2025, Helius Medical Technologies‘ stockholders approved several significant proposals, including a reverse stock split and an increase in authorized shares to 800 million. These decisions aim to ensure compliance with Nasdaq listing requirements and facilitate potential financing, impacting the company’s operational and strategic positioning.
The most recent analyst rating on (HSDT) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Helius Medical Technologies stock, see the HSDT Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.