Neuronetics Q3 Revenue Dips to $29.09M

TL;DR

Neuronetics Q3 revenue down YoY to $29.09M. Watch for cash burn.

AI Summary

Neuronetics, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported revenue of $29.09 million for the third quarter of 2024, a decrease from $30.32 million in the same period of the prior year. The filing details financial performance and operational updates for the period.

Why It Matters

This filing provides insight into Neuronetics' financial health and market performance, which could impact investor decisions and the company's ability to fund its operations and growth initiatives.

Risk Assessment

Risk Level: medium — The company's revenue has decreased year-over-year, and the filing may contain details about cash burn or future funding needs, indicating potential financial risks.

Key Numbers

• $29.09M — Q3 2024 Revenue (Revenue for the third quarter of 2024.)
• $30.32M — Q3 2023 Revenue (Revenue for the third quarter of 2023, used for year-over-year comparison.)

Key Players & Entities

• Neuronetics, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• $29.09 million (dollar_amount) — Q3 2024 revenue
• $30.32 million (dollar_amount) — Q3 2023 revenue

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock ($0.01 par value) STIM The Nasdaq Global M

Filing Documents

• stim-20240930x10q.htm (10-Q) — 2045KB
• stim-20240930xex31d1.htm (EX-31.1) — 14KB
• stim-20240930xex31d2.htm (EX-31.2) — 14KB
• stim-20240930xex32d1.htm (EX-32.1) — 7KB
• stim-20240930xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-015160.txt ( ) — 8950KB
• stim-20240930.xsd (EX-101.SCH) — 60KB
• stim-20240930_cal.xml (EX-101.CAL) — 57KB
• stim-20240930_def.xml (EX-101.DEF) — 221KB
• stim-20240930_lab.xml (EX-101.LAB) — 514KB
• stim-20240930_pre.xml (EX-101.PRE) — 369KB
• stim-20240930x10q_htm.xml (XML) — 1851KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. 3 Balance Sheets as of September 30, 2024 and December 31, 2023 3 4 5 6 Notes to Interim Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 36 Item 4.

Controls and Procedures

Controls and Procedures. 37

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1. Legal Proceedings. 38 Item 1A . Risk Factors . 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 38 Item 3. Defaults Upon Senior Securities. 38 Item 4. Mine Safety Disclosures. 38 Item 5. Other Information. 39 Item 6. Exhibits. 39

SIGNATURES

SIGNATURES 42 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. NEURONETICS, INC. Balance Sheets (Unaudited; In thousands, except per share data) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 20,867 $ 59,677 Accounts receivable, net 16,825 15,782 Inventory 4,960 8,093 Current portion of net investments in sales-type leases 572 905 Current portion of prepaid commission expense 2,921 2,514 Current portion of notes receivable 2,477 2,056 Prepaid expenses and other current assets 4,837 4,766 Total current assets 53,459 93,793 Property and equipment, net 1,639 2,009 Operating lease right-of-use assets 2,328 2,773 Net investments in sales-type leases 140 661 Prepaid commission expense 8,733 8,370 Long-term notes receivable 2,878 3,795 Other assets 4,940 4,430 Total assets $ 74,117 $ 115,831 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,295 $ 4,752 Accrued expenses 11,429 12,595 Deferred revenue 1,311 1,620 Current portion of operating lease liabilities 862 845 Total current liabilities 16,897 19,812 Long-term debt, net 46,002 59,283 Deferred revenue 4 200 Operating lease liabilities 1,833 2,346 Total liabilities 64,736 81,641 Commitments and contingencies (Note 18) — — Stockholders' equity: Preferred stock, $ 0.01 par value: 10,000 shares authorized; no shares issued or outstanding on September 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value: 200,000 shares authorized; 30,317 and 29,092 shares issued and outstanding on September 30, 2024 and December 31, 2023, respectively 303 291 Additional paid-in capital 416,205 409,980 Accumulated deficit ( 407,127 ) ( 376,081 ) Total Stockholders' equity 9,381 34,190 Total liabilities and Stockholders' equity $ 74,117 $ 115,831 The accompanying notes a

View Full Filing

View this 10-Q filing on SEC EDGAR