Neuronetics Reports Preliminary Fourth Quarter and Fiscal Year 2022 Financial Results

Neuronetics, Inc

MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) this week announced certain preliminary unaudited fourth quarter and full year 2022 revenue results.

Fourth Quarter 2022
Preliminary unaudited total revenue for the fourth quarter of 2022 is approximately $18.0 million as compared to previously stated guidance of $16.0 to $17.0 million.

Fourth quarter U.S. NeuroStar Advanced Therapy System preliminary unaudited revenue is expected to be approximately $4.6 million. For the three months ended December 31, 2022 the Company shipped 56 systems.

U.S. Treatment Session preliminary unaudited revenue is expected to be approximately $12.4 million.

Full Year 2022
Preliminary unaudited total revenue for the full year 2022 is expected to be approximately $65.0 million as compared to previously stated guidance of $63.0 to $64.0 million.

“Our team’s impressive fourth-quarter performance was largely due to the ongoing execution of our strategy, including the accelerated positive impacts of our marketing and education initiatives, benefiting both treatment session usage and capital sales,” said Keith J. Sullivan, President and Chief Executive Officer of Neuronetics. “Looking ahead to 2023, we anticipate that momentum will continue to grow as we build on the solid foundation we have laid over the previous two years, allowing us to help our customers treat as many patients suffering from mental health disorders as they can.”

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