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Neuronetics Provides Business Update and Issues 2025 Guidance
STIMNeuronetics(STIM) GlobeNewswire·2025-01-13 13:00

Core Insights - Neuronetics, Inc. announced preliminary fourth quarter and full year 2024 revenue, reporting 22.1millionand22.1 million and 74.5 million respectively, reflecting both standalone performance and combined performance with Greenbrook TMS [2][6] - The company expects a pro forma year-over-year revenue growth of 12% to 19% for full year 2025, alongside anticipated annualized cost synergies exceeding 22million[6][13]−Neuroneticsaimstoachievecashflowbreakevenbythethirdquarterof2025,withreducedcashburnexpectedinthefirsthalfof2025[8][6]FinancialPerformance−Preliminaryunauditedrevenuefor4Q2024was22 million [6][13] - Neuronetics aims to achieve cash flow breakeven by the third quarter of 2025, with reduced cash burn expected in the first half of 2025 [8][6] Financial Performance - Preliminary unaudited revenue for 4Q 2024 was 22.1 million, while full year revenue was 74.5million[2]−Adjustedgrossproformarevenuefor4Q2024was74.5 million [2] - Adjusted gross pro forma revenue for 4Q 2024 was 19.5 million, and for FY 2024 it was 71.9million[5]−Thecompanyreportedadjustednetproformarevenueof71.9 million [5] - The company reported adjusted net pro forma revenue of 17.1 million for 4Q 2024 and 62.0millionforFY2024[5]AcquisitionImpact−TheacquisitionofGreenbrookTMSwascompletedonDecember9,2024,creatingasignificantcombinationinmentalhealththerapydelivery[9]−TheintegrationofGreenbrook′snetworkofover95treatmentclinicswithNeuronetics′NeuroStartechnologyplatformisexpectedtodriveprofitablegrowthandoperationalcostsynergies[9][6]−Over9062.0 million for FY 2024 [5] Acquisition Impact - The acquisition of Greenbrook TMS was completed on December 9, 2024, creating a significant combination in mental health therapy delivery [9] - The integration of Greenbrook's network of over 95 treatment clinics with Neuronetics' NeuroStar technology platform is expected to drive profitable growth and operational cost synergies [9][6] - Over 90% of the identified annual cost synergies of 22 million have already been implemented [7] Business Initiatives - Neuronetics launched the Better Me Provider program in July 2024, enhancing patient care and accessibility, with over 350 active sites and more than 125 additional sites committed to joining [10] - The company received FDA clearance for its NeuroStar Advanced Therapy as a first-line adjunct treatment for adolescents with major depressive disorder, expanding its total addressable market by approximately 35% [11] Future Outlook - For fiscal year 2025, Neuronetics anticipates total revenue between 145millionand145 million and 155 million, with a gross margin of approximately 55% [13] - Operating expenses are projected to be between 90millionand90 million and 98 million [13]