Neuronetics(US:STIM)2025-05-06 11:30Revenue Growth - Total revenues increased by $14.6 million, or 84%, from $17.4 million for the three months ended March 31, 2024, to $32.0 million for the three months ended March 31, 2025[131]. - U.S. revenues were $31.5 million for the three months ended March 31, 2025, compared to $16.8 million for the same period in 2024, representing an increase of 87%[131]. - Revenues from treatment sessions, clinic revenue, and NeuroStar Advanced Therapy Systems represented 31%, 59%, and 9% of U.S. revenues, respectively, for the three months ended March 31, 2025[124]. - Total revenue for Q1 2025 was $32.0 million, an increase of $14.6 million or 84% compared to $17.4 million in Q1 2024[151]. - U.S. clinic revenue from the Greenbrook acquisition was $18.7 million in Q1 2025, contributing significantly to revenue growth[155]. Financial Performance - The company incurred net losses of $12.7 million for the three months ended March 31, 2025, compared to net losses of $7.9 million for the same period in 2024[131]. - As of March 31, 2025, the company had an accumulated deficit of $432.5 million[131]. - Net loss for Q1 2025 was $12.7 million, a 61% increase from a net loss of $7.9 million in Q1 2024[167]. - Cash and cash equivalents as of March 31, 2025, were $20.2 million, up from $18.5 million at the end of 2024[162]. - Net cash used in operating activities for Q1 2025 was $17.0 million, compared to $12.0 million in Q1 2024[166]. - Interest expense increased by 5% to $1.9 million in Q1 2025 due to rising interest rates[160]. Expense Management - Operating expenses increased by $6.8 million or 34% to $26.8 million in Q1 2025, driven by a 121% increase in general and administrative expenses[158]. - Research and development expenses are expected to decrease during 2025 compared to 2024 expenses[146]. - Research and development expenses decreased by 31% to $1.6 million in Q1 2025, reflecting cost savings post-acquisition[159]. - The company anticipates that sales and marketing expenses will increase in 2025 due to the addition of Greenbrook sales and marketing related expenses[142]. Future Outlook - The company expects clinic revenue to increase in 2025[136]. - The company anticipates that operating losses will lessen in the near term due to revenue growth and ongoing cost efficiencies from the Greenbrook acquisition[162]. - The company generated approximately $8,500 of average revenue per patient for a standard course of treatment[125]. - Gross profit for Q1 2025 was $15.7 million, with a gross margin of 49.2%, down from 75.1% in Q1 2024[156].