Neuronetics Reports Third Quarter 2019 Financial and Operating Results

Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders, today announced its financial and operating results for the third quarter of 2019.

Third Quarter 2019 Highlights

• Third quarter 2019 revenue of $16.0 million, an increase of 16% over the third quarter of 2018
• Third quarter 2019 U.S. treatment session revenue of $10.3 million, an increase of 11% over the third quarter of 2018
• Third quarter 2019 U.S. NeuroStar® Advanced Therapy revenue of $4.6 million, an increase of 18% over the third quarter of 2018
• Active installed base was 1,032, as of September 30, 2019, an increase of 20% over the prior year period
• Business Outlook
  For the fourth quarter of 2019, the Company expects to report worldwide revenue between $16.7 million and $17.7 million, representing 7% and 13% year-over-year growth, respectively.
  For the full year 2019, the Company now expects to report total worldwide revenue between $62.0 and $63.0 million, representing 17% and 19% year-over-year growth, respectively, down from previous guidance of between $63.0 and $65.0 million.
  For the full year 2019, the Company continues to expect gross margins to be in the mid 70% range, in line with full year 2018 margins.
  For the full year 2019, the Company now expects operating expenses to be between $73.5 and $75.5 million, down slightly from previous guidance between $74.0 and $77.5 million.
  Webcast and Conference Call Information
  Neuronetics’ management team will host a conference call on November 5, 2019 beginning at 8:30 a.m. Eastern Time. Investors interested in listening to the conference call may do so by dialing (877) 472-8990 for domestic callers or +1 (629) 228-0778 for international callers, and referencing Conference ID: 3946759 approximately 10 minutes prior to start time. To access the live audio webcast or subsequent archived recording, visit the Investor Relations section of Neuronetics’ website at ir.neuronetics.com.
• https://www.biospace.com/article/releases/neuronetics-reports-third-quarter-2019-financial-and-operating-results/