Core Insights - NeuroOne Medical Technologies Corporation has expanded its exclusive distribution agreement with Zimmer Biomet, receiving a $3 million upfront payment, which is expected to significantly drive revenue and expand margins [1][2][3] Financial Highlights - Product revenue for fiscal year 2024 increased by 77% to $3.5 million from $2.0 million in fiscal year 2023 [2][9] - Operating expenses decreased by 12% to $3.0 million in Q4 2024 compared to $3.4 million in Q4 2023 [2][10] - The company expects product revenue for fiscal year 2025 to range between $8 million and $10 million, representing an increase of 132% to 190% compared to fiscal year 2024 [2][13] Operational Updates - The OneRF™ Ablation System has been placed in five prominent epilepsy centers, with positive outcomes reported from procedures performed on 12 patients [5] - The company is progressing discussions with strategic partners for additional use cases and has plans to submit a 510(k) application for a new trigeminal nerve ablation product in the first half of 2025 [4][6] Management Commentary - The CEO highlighted the partnership with Zimmer Biomet as a key driver for future revenue growth and margin expansion, with expectations of at least $8 million in revenue for fiscal year 2025 [3] Cash Position - As of September 30, 2024, the company had cash and cash equivalents of $1.5 million, down from $5.3 million a year earlier, but remains debt-free [12]
NeuroOne® Product Revenue Increases 77% to $3.5 Million in Fiscal 2024: Expects Product Revenue to Increase at Least 132% to at Least $8 Million in Fiscal 2025