Neuronetics Q1 revenue $17.4M (+12% YoY); FDA clearance for adolescent MDD expands TAM by ~35%

Neuronetics, Inc.

2024-Q1 EPS reported -$0.27 revenue$17,417,000

Revenue $17.4M (+12% YoY); U.S. treatment session revenue $13.0M (+22% YoY) driven by higher utilization.
Net loss $(7.9)M ($0.27/share) improved from $(10.5)M ($0.38/share) in Q1 2023; EBITDA $(6.3)M vs $(9.4)M.
NeuroStar received FDA clearance as first-line adjunct TMS for adolescents (15-21) with MDD; total addressable market increased ~35%.
Shipped 41 systems (vs 49 in Q1 2023); system revenue down 14% due to customer credit challenges and Change Health cyberattack.
Q2 2024 revenue guidance $18-19M; FY2024 revenue $78-80M; operating expenses $80-84M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Neuronetics, Inc. reported first quarter of 2024; three months ended March 31, 2024 results: revenue $17.4 million, net income $(7.9) million, or $(0.27) per share, EPS $(0.27) per share.

Period: first quarter of 2024; three months ended March 31, 2024
Revenue: $17.4 million
Net income: $(7.9) million, or $(0.27) per share
EPS: $(0.27) per share
Result: reported results

Exact text from the filing

therapies in the world, today announced its financial and operating results for the first quarter of 2024. First Quarter 2024 Highlights ● First quarter 2024 revenue of $17.4 million, a 12% increase as compared to the first quarter 2023 ● U.S. treatment session revenue increased by 22% versus the first quarter of 2023 ● U.S. NeuroStar Advanced Therapy system

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Source: SEC EDGAR

accession 0001558370-24-006909

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