Neuronetics, Inc. (STIM) recently announced a definitive agreement with Greenbrook TMS Inc. to acquire its outstanding common shares in an all-stock transaction. Following the merger's completion, Greenbrook will be able to improve its existing sites to provide the benefits of NeuroStar to any practice across the country. It will do so using Neuronetics' innovative NeuroStar platform as well as its education and training expertise. The merger agreement will help Neuronetics strengthen its position in the me ...

Neuronetics (STIM) reported a net loss of 33 cents per share in second-quarter 2024, wider than the year-ago quarter's reported loss of 17 cents. The figure also lagged the Zacks Consensus Estimate of a loss of 27 cents per share. Q2 Revenues Consolidated revenues amounted to $16.5 million, down 6.3% from $17.6 million recorded in the second quarter of 2023. The figure missed the Zacks Consensus Estimate by 12.2%. Segments in Detail Neuronetics reports under two primary markets, based on the geographic loca ...

Exhibit 99.1 Presentation Operator Good day, and thank you for standing by. Welcome to the Neuronetics Second Quarter 2024 Financial and Operating Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to Mark Klausner. Please go ahead. Mark R. Klausner Westwicke Partners, LLC Good morning, and thank you for joining us for the Neuronetics Second Quarter 2024 Conference Call. Joining me on today's call are Neu ...

Financial Data and Key Metrics - Revenue for Q2 2024 was $16.5 million, down 7% year-over-year, primarily due to lower Treatment Session revenue [5] - US Treatment Session revenue was $11.7 million, a decrease of 5% year-over-year [9] - Gross margin improved to 74%, up 150 basis points from 72.5% in Q2 2023, driven by the shift to a new contract manufacturer [9] - Net loss for the quarter was $9.8 million, or $0.33 per share, compared to a net loss of $4.9 million, or $0.17 per share, in Q2 2023 [10] - EBITDA for Q2 2024 was negative $8 million, compared to negative $3.3 million in Q2 2023 [10] - Cash and cash equivalents stood at $42.6 million as of June 30, 2024, with a new debt facility of up to $90 million secured in late July [11] Business Line Performance - Utilization in the local consumable segment increased by 18%, but Treatment Session revenue declined by 5% due to cash flow constraints caused by the Change Healthcare cybersecurity breach [5] - Revenue from US NeuroStar Advanced Therapy Systems was $4 million, with 50 systems recognized, meeting the high end of the quarterly guidance [9] - The Better Me program (BMP) showed significant improvements, with participating practices increasing 24-hour follow-up rates by 6.4 times and providers treating 61% more patients after advanced clinical training [6] Market Performance - The company launched NeuroStar TMS therapy for adolescents, with over 425 adolescent patients treated since April 2024 [7] - Insurance coverage for adolescents aged 15-21 expanded, with major providers like Blue Cross Blue Shield of Michigan and Aetna updating their policies [7] - A TV advertising campaign in Tampa, Florida, is being piloted to increase awareness of NeuroStar TMS and drive patient engagement [6] Strategic Direction and Industry Competition - The company announced a definitive agreement to acquire Greenbrook TMS, the largest TMS provider in the US, creating a vertically integrated mental health company [13][15] - The merger is expected to accelerate the path to profitability, with pro forma revenue of $145 million for the combined entity in 2023 and mid-teens revenue growth expected in 2025 and 2026 [21] - Cost synergies of at least $15 million annually are anticipated, primarily from marketing and back-office optimizations [21] Management Commentary on Operating Environment and Future Outlook - Management believes the negative impact from the Change Healthcare cybersecurity breach is transient and expects revenue patterns to normalize in the second half of 2024 [5] - The company remains confident in achieving cash flow positivity in Q4 2024 and expects full-year revenue in the range of $78 million to $80 million [12] - The merger with Greenbrook is seen as a transformative opportunity to expand access to mental health therapies and improve operational efficiencies [17][18] Other Important Information - The company secured a new debt facility of up to $90 million with Perceptive Advisors, providing financial flexibility for commercial initiatives and clinical expansion [11] - The Better Me program (BMP) has been fully launched nationwide, with significant improvements in patient follow-up rates and treatment accessibility [6] - The company plans to pilot a TV advertising campaign in Tampa, Florida, to test the effectiveness of TV as a medium for increasing NeuroStar TMS awareness [6] Q&A Session Summary Question: Impact of Change Healthcare Cybersecurity Breach - The breach impacted revenue by approximately $2 million in Q2 2024, with customers delaying orders due to cash flow constraints [30] - Management expects the situation to normalize by the end of 2024, with positive trends in utilization and inventory levels [23] Question: Timing and Rationale for Greenbrook Merger - The merger was accelerated due to Greenbrook's lenders converting $140 million in debt to common shares, significantly improving the financial profile of the combined entity [27] - The focus post-merger will be on increasing utilization in existing Greenbrook centers rather than expanding brick-and-mortar locations [28] Question: Revenue and Cost Synergies from Greenbrook Merger - The combined company expects mid-teens revenue growth in 2025 and 2026, driven by expanded Spravato offerings and marketing efficiencies [33] - Cost synergies of at least $15 million annually are anticipated, primarily from G&A and marketing optimizations [33] Question: Guidance and Inventory Management - Q3 revenue guidance of $18.5 million to $19.5 million is based on a return to normalized Treatment Session ordering patterns [32] - The company expects a rebound in Q4 as customers replenish inventory levels [35] Question: Roadmap for Greenbrook Integration - The immediate focus post-merger will be on achieving $15 million in cost synergies and increasing utilization in Greenbrook's 120 treatment centers [39] - The company will also expand the Better Me program (BMP) and leverage Greenbrook's expertise in patient referral and education [40] Question: Long-Term Revenue per Active Site - The company aims to achieve revenue per active site of $15,000 to $17,000 per quarter, driven by increased utilization and operational efficiencies [42]

On Monday, Neuronetics Inc. STIM, a provider of noninvasive treatments for psychiatric disorders, agreed to acquire Greenbrook TMS Inc. GBNHF in an all-stock transaction. In fiscal year 2023, the combined company's pro forma revenue would have been approximately $145 million, effectively doubling the scale of the stand-alone businesses. Additionally, the combined company expects mid-teens year-over-year revenue growth in fiscal years 2025 and 2026. Through optimizing marketing spend and back office function ...

Advanced Therapy for Mental Health 2Q 2024 Earnings August 12, 2024 Forward Looking Statements This presentation contains estimates and other statistical data prepared by independent parties and by Neuronetics, Inc. (the "Company") relating to market size and growth and other data about the industry in which the Company operates. These estimates and data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and data. Certain statements in this pres ...

Neuronetics (STIM) came out with a quarterly loss of $0.33 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -22.22%. A quarter ago, it was expected that this medical device company focused on psychiatric disorders would post a loss of $0.33 per share when it actually produced a loss of $0.27, delivering a surprise of 18.18%. Over t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 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. and TORONTO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM) ("Neuronetics") and Greenbrook TMS Inc. (OTCMKTS: GBNHF) ("Greenbrook") today announced that they have entered into a definitive arrangement agreement (the "Definitive Agreement") in which Neuronetics will acquire all of the outstanding common shares of Greenbrook in an all-stock transaction. "This transaction brings together two of the leaders in the mental health space in the U.S., which will allow us to provide a ...

MALVERN, Pa., Aug. 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 second quarter of 2024. Second Quarter 2024 Highlights Second quarter 2024 revenue of $16.5 million, a 7% decrease as compared to the second q ...