Neuronetics Reports Updated Fourth Quarter and Full Year 2024 Financial and Operating Results

Core Viewpoint - Neuronetics, Inc. has updated its financial results for the fourth quarter and full year ending December 31, 2024, due to non-cash revisions related to the acquisition of Greenbrook TMS Inc. and shares outstanding adjustments, impacting key financial metrics [1][3]. Financial Results Summary Fourth Quarter 2024 Results - Revenues for Q4 2024 were reported at $22.493 million, an increase from$20.314 million in Q4 2023 [9]. - Operating expenses rose to $26.365 million from$20.198 million in the same quarter last year [10]. - The net loss increased to $(12.681) million, compared to$(5.377) million in Q4 2023, resulting in a net loss per share of $(0.34) [10]. Full Year 2024 Results - Total revenues for the year were$74.890 million, up from $71.348 million in 2023 [9]. - Operating expenses for the year increased to$88.724 million from $82.259 million in 2023 [10]. - The net loss for the year was$(43.727) million, compared to $(30.189) million in 2023, with a net loss per share of$(1.38) [10]. Adjusted Financial Metrics - Adjusted EBITDA for Q4 2024 was $(0.415) million, a decrease from$(3.031) million in Q4 2023 [17]. - For the full year, adjusted EBITDA was $(21.793) million, compared to$(21.012) million in 2023 [17]. Balance Sheet Overview - As of December 31, 2024, total assets were reported at $140.903 million, an increase from$115.831 million in 2023 [11]. - Current liabilities rose to $31.265 million from$19.812 million in the previous year [12]. - Stockholders' equity decreased to $27.706 million from$34.190 million in 2023 [12]. Cash Flow Analysis - Net cash used in operating activities for the year was $(30.997) million, slightly improved from$(32.038) million in 2023 [14]. - The company reported a net decrease in cash and cash equivalents of $(40.218) million, down from$(10.663) million in 2023 [14].