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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
NMTCNeuroOne Medical Technologies (NMTC) Newsfilter·2024-12-17 13:30

Core Insights - NeuroOne Medical Technologies Corporation has expanded its exclusive distribution agreement with Zimmer Biomet, receiving a 3millionupfrontpayment,whichisexpectedtosignificantlydriverevenueandexpandmargins[1][2][3]FinancialHighlights−Productrevenueforfiscalyear2024increasedby773 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 2.0millioninfiscalyear2023[2][9]−Operatingexpensesdecreasedby122.0 million in fiscal year 2023 [2][9] - Operating expenses decreased by 12% to 3.0 million in Q4 2024 compared to 3.4millioninQ42023[2][10]−Thecompanyexpectsproductrevenueforfiscalyear2025torangebetween3.4 million in Q4 2023 [2][10] - The company expects product revenue for fiscal year 2025 to range between 8 million and 10million,representinganincreaseof13210 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 1.5million,downfrom1.5 million, down from 5.3 million a year earlier, but remains debt-free [12]