Q2 2025 Neuronetics Inc Earnings Call Transcript
Key Points
- Neuronetics Inc (STIM) reported a strong second quarter with total revenue of $38.1 million, marking an 18% year-over-year increase on an adjusted pro forma basis.
- The company achieved its largest quarterly clinic revenue to date, with US clinic revenue reaching $23 million.
- Neuronetics Inc (STIM) made significant progress towards cash flow positivity, with cash used in operations at $3.5 million, better than the previously guided target of under $5 million.
- The Better Me Provider (BMP) Program continues to be a key driver, with BMP sites treating three times more patients per site per quarter than non-BMP practices.
- The SPRAVATO rollout is progressing well, with 77 of 83 eligible clinics now offering the therapy, and the company is on track for a full rollout by year-end.
- Gross margin decreased to 46.6% from 74% in the prior year quarter, primarily due to the inclusion of Greenbrook's clinic business, which operates at a lower margin.
- Operating expenses increased by 25% to $25.8 million, driven by the inclusion of Greenbrook's general and administrative expenses.
- The company reported a net loss of $9.8 million for the quarter, consistent with the prior year quarter.
- Neuronetics Inc (STIM) adjusted its full-year gross margin guidance to between 48% and 50%, down from the prior guidance of approximately 55%.
- The company revised its cash flow guidance, now targeting positive cash flow from operations in the fourth quarter of 2025, delayed from the previous expectation of the third quarter.
Welcome to the Neuronetics Reports Second Quarter 2025 Financial and Operating Results. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the call over to Mark Klausner. Please go ahead
Good morning, and thank you for joining us for the Neuronetics Second Quarter 2025 Conference Call. Joining me on today's call are Neuronetics' President and Chief Executive Officer, Keith Sullivan and Steve Pfanstiel, Neuronetics' recently appointed Chief Financial Officer. 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 our business, strategy, financial and revenue guidance, the Greenbrook integration and other operational issues and metrics.
Actual results can differ materially from those stated or implied by
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