MALVERN, Pa., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM) (the “Company”) today announced that it has commenced an underwritten public offering of its common stock. In connection with the offering, the Company expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All shares in the offering are being offered by the Company. Canaccord Genuity LLC is acting as sole bookrunner in connection with t ...

Core Insights - Neuronetics, Inc. has announced two peer-reviewed publications that provide evidence of the effectiveness of transcranial magnetic stimulation (TMS) in improving depressive symptoms and highlight the superior sensitivity of the PHQ-9 assessment tool over the QIDS-SR for measuring TMS outcomes [1][2][5] Group 1: TMS Effectiveness - The first publication demonstrates that TMS induces universal improvement in depressive symptoms across various categories, suggesting a broad antidepressant effect rather than targeting specific symptoms [5][6] - The study involved 578 patients diagnosed with major depressive disorder (MDD) and showed that all three TMS protocols studied were equally effective, allowing for greater flexibility in treatment delivery [6] Group 2: Assessment Tools - The second publication compares the PHQ-9 and QIDS-SR assessment tools, revealing that the PHQ-9 is more sensitive in capturing symptom improvements and identifying higher remission rates than the QIDS-SR [6] - The findings indicate that the QIDS-SR often underreports symptoms and misclassifies patients as "non-responders," while the PHQ-9 provides a more reliable measure of depression severity [6] Group 3: Company Positioning - Neuronetics positions itself as a leader in advancing TMS therapy and mental health treatment, emphasizing its commitment to scientific research and data-driven innovation [2][7] - The company has delivered over 6.9 million NeuroStar Advanced Therapy treatments and operates Greenbrook TMS Inc. treatment centers across the U.S., further solidifying its market presence [8]

Preliminary unaudited fourth quarter and full year revenue 2024 was $22.1 and $74.5, respectivelyClosed acquisition of Greenbrook TMS effective as of December 9, 2024Expects full year 2025 pro forma year-over-year revenue growth of 12% - 19%Expects to realize over $22 million in annualized cost synergies Expects to achieve cash flow breakeven in the third quarter of 2025 MALVERN, Pa., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM) (the “Company”) today announced preliminary fourth quarte ...

MALVERN, Pa., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced that the management team will present at the Piper Sandler 36th Annual Healthcare Conference on Wednesday, December 4, 2024. The Company is scheduled to present at 2:30pm Eastern Time the same day via webcast. A live audio webcast of the prese ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2024 was $18.5 million, a 4% increase from $17.9 million in Q3 2023, primarily driven by increased capital sales [28] - U.S. treatment session revenue was $13.3 million, reflecting a 2% year-over-year increase [28] - Gross margin improved to 75.6%, up from 65.8% in the prior year, an increase of 980 basis points [29] - Operating expenses rose to $21.7 million, a 5% increase compared to $20.6 million in Q3 2023, mainly due to transaction expenses [30] - Net loss for Q3 2024 was $13.3 million, or $0.44 per share, compared to a net loss of $9.4 million, or $0.33 per share, in the prior year [31] Business Line Data and Key Metrics Changes - NeuroStar system revenue was $4.1 million, with 49 systems shipped during the quarter [28] - Revenue per active site was approximately $11,400, down from approximately $11,900 in the prior year [29] Market Data and Key Metrics Changes - The company is focusing on optimizing its commercial organization and targeting local providers to drive patient flow into treatment sites [12][14] - The introduction of a data-driven approach to identify psychiatrists treating patients for depression within a 10-mile radius of treatment sites is expected to enhance patient volume [13][14] Company Strategy and Development Direction - The company is focused on integrating the Greenbrook acquisition, aiming for operational efficiencies, cost reductions, and profitable revenue growth [9][10] - The target for cost synergies from the acquisition has been increased to approximately $20 million, with a strategic reorganization expected to generate $3.5 million in annualized expense reduction [10][11] - The company plans to expand the SPRAVATO treatment program across all Greenbrook clinics by 2025, implementing a buy-and-bill model to enhance revenue [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow breakeven by Q3 2025, emphasizing the importance of integration and operational improvements [26][34] - The focus is shifting towards profitability rather than top-line growth, with restructuring impacting Q4 revenues [39][44] Other Important Information - Cash and cash equivalents as of September 30, 2024, were $20.9 million [31] - The company expects standalone revenue for Q4 2024 to be between $19 million and $20 million, with full-year revenue guidance adjusted to $71 million to $72 million [32] Q&A Session Summary Question: What changed in your expectations for the guidance reduction for full year 2024? - The guidance was based on trends observed in Q3, with changes in customer purchasing patterns due to reimbursement and cash flow issues impacting treatment session forecasts [36][37] Question: Are you still committed to mid-teens growth for the combined entity looking into '25 and '26? - The primary focus is on profitability and achieving cash flow breakeven, which may come at the expense of some top-line revenue [38][39] Question: Can you provide granularity on how the separate businesses are trending today? - The business with Greenbrook remains strong, particularly in the local consumable business, with TMS showing significant growth [42] Question: How much of the guidance shortfall is due to the removal of intercompany revenue? - The bulk of the shortfall is attributed to restructuring impacting the commercial team, affecting Q4 revenues [43][44] Question: What is the strategic change in the commercial restructuring? - The strategy involves utilizing regional area managers to work with local providers and drive patient referrals more efficiently [46] Question: Is the majority of the Q4 weakness related to treatment sessions? - Yes, the majority of the weakness is related to treatment sessions, with stabilization in the credit and lending environment noted [48][49] Question: Can you discuss the growth in the adolescent treatment segment? - The adolescent treatment segment remains strong, with significant growth observed since receiving approval [49][50] Question: What is the timing for reaching cash flow breakeven? - The company aims to reach cash flow breakeven by the third quarter of 2025 [51]

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 ...

MALVERN, Pa., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced the granting of inducement awards of Restricted Stock Units representing a total of 13,500 shares of the Company’s common stock (RSUs) to seven new non-executive employees. In accordance with NASDAQ Listing Rule 5635(c)(4), th ...

Neuronetics (STIM) came out with a quarterly loss of $0.29 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to loss of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -26.09%. A quarter ago, it was expected that this medical device company focused on psychiatric disorders would post a loss of $0.27 per share when it actually produced a loss of $0.33, delivering a surprise of -22.22%.Over th ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ | --- | --- | --- | |-----------------------------------------------------------------------------------|------------ ...

MALVERN, Pa., Nov. 12, 2024 (GLOBE NEWSWIRE) -- 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 quar ...