Q4 2024 Neuronetics Inc Earnings Call Transcript
Key Points
- Neuronetics Inc (STIM) reported a total revenue of $22.5 million for Q4 2024, marking an 11% increase over the same period in 2023.
- The acquisition of Greenbrook TMS has transformed Neuronetics into a vertically integrated mental health care provider, enhancing its market position.
- The Better Me Provider (BMP) program has been a success, with participating sites treating three times more patients per quarter than non-participating sites.
- Neuronetics received FDA clearance for the NeuroStar system to treat adolescent patients, expanding its addressable market.
- The company has captured over 90% of the identified $22 million in annualized cost synergies from the Greenbrook acquisition, surpassing initial targets.
- Gross margin decreased to 66.2% from 77.6% in the prior year quarter, primarily due to the inclusion of the Greenbrook Clinic business.
- Operating expenses increased by 28% to $25.8 million, largely due to professional fees and the inclusion of Greenbrook's expenses.
- Net loss for the fourth quarter was $12.1 million, compared to a net loss of $5.4 million in the prior year quarter.
- EBITDA was negative $10.5 million, with non-recurring expenses associated with the Greenbrook acquisition impacting results.
- Cash and cash equivalents decreased significantly to $18.5 million as of December 31, 2024, from $59.7 million the previous year.
Good day and thank you for standing by. Welcome to the Neuronetics fourth-quarter 2024 financial and operating results conference call. At this time, all participants are on a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Mark Klausner. Please go ahead.
Good morning and thank you for joining us for the Neuronetics fourth-quarter 2024 conference call.
Joining me on today's call are Neuronetics President and Chief Executive Officer, Keith Sullivan; and Chief Financial Officer, Steve Furlong.
Before we begin, I would like to caution listeners that certain information discussed by management during this conference call will include forward-looking statements covered under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
