Finance

Neuronetics Reports Preliminary Fourth Quarter and Fiscal Year 2021 Financial Results

Malvern, PA, Jan. 10, 2022 (GLOBE NEWSWIRE) – Neuronetics, Inc. (NASDAQ:STIM), a commercial-stage medical technology company focused on designing, developing, and marketing products that improve quality of life for patients with neurological health disorders, today announced preliminary unaudited results for fourth-quarter and full-year 2021 revenue.

Fourth Quarter 2021
Preliminary unaudited revenue for the fourth quarter of 2021 is expected to be approximately $14.5 to $15.0 million, compared to a previously announced guidance of $13.0 to $14.0 million.

full year 2021
Total initial unaudited revenue for the full year of 2021 is expected to be between approximately $54.8 and $55.3 million compared to previously announced guidance of $53.3 to $54.3 million.

“Despite the headwinds associated with COVID-19 that continued into 2021, our team delivered a strong performance in the fourth quarter, primarily as a result of increased therapy session volumes across our client base and strong demand for new systems,” said Keith Sullivan. , president and CEO of Neuronetics. Over the course of the year, we made significant progress on several of our strategic initiatives that positioned ourselves to drive future growth, including entering into new and exclusive business agreements with multiple national accounts. As the overall environment continues to streamline, we are very excited about our outlook for 2022. We plan to build on our strong momentum this year and are confident in our team’s ability to drive widespread adoption of NeuroStar Advanced Mental Health Therapy. “

About Neuronetics
Neuronetics, Inc. believes. Mental health is just as important as physical health. As a global leader in neuroscience and the largest TMS company in the industry, Neuronetics is redefining patient and clinician expectations by designing and developing products that improve the quality of life for people with mental disorders. A non-invasive, drug-free, drug-free, FDA-free, non-invasive treatment for people with depression, Neuronetics’ NeuroStar® The Advanced Therapy System is currently the leading treatment for transcranial magnetic stimulation (TMS) for major depressive disorder with more than four million treatments offered. NeuroStar has been extensively researched and supported by the largest clinical data set of any TMS for depression, including the largest depression outcome registry in the world. Neuronetics is committed to changing lives by offering an exceptional treatment option that produces extraordinary results. For safety information and directions for use, visit NeuroStar.com.

The Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

The statements in the press release regarding Neuronetics, Inc. (“Company”) that are not historical facts “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by terms such as “expectations”, “likelihoods”, “beliefs” and “expectations” and “plan,” “expect,” “expect,” “may,” “will,” “could,” “will,” “should,” as well as negation of these and similar expressions. This data includes those relating to: the Company’s business and current forecasts for the fourth quarter of 2021 and fiscal year 2021, including with respect to revenue and any underlying assumptions. These statements are subject to significant risks and uncertainties and actual results may differ materially from those expected. The company cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, but are not limited to, risks and uncertainties related to: the impact of COVID-19 on the Company’s operating plans and budget as well as general political and economic conditions, including as a result of government authorities’ efforts to mitigate COVID-19, such as travel bans, orders Shelter provision, third-party business closures and the associated impact on resource allocation, manufacturing and supply chains, and patient access to commercial products; The company’s ability to carry out its business continuity; The company’s ability to realize or continue profitable operations due to its history of losses; The company’s reliance on the sale and use of NeuroStar Advanced Therapy for Mental Health System to generate revenue; size and effectiveness of the company’s sales team; Provides coverage and indemnities from third parties paying for treatments using the Company’s products; order the doctor and the patient for treatment using the company’s products; developments related to competing technologies and treatments for the indications processed by the Company’s products; product defects; the company’s ability to obtain and maintain intellectual property protection for its technology; Developments in clinical trials or regulatory review of NeuroStar Advanced Therapy for Mental Health System for additional indications; and developments in regulation in the United States and other applicable jurisdictions. For a discussion of these and other related risks, please refer to the Company’s recent SEC filings available on the SEC website at www.sec.gov. These forward-looking statements are based on the company’s expectations and assumptions as of the date of this press release. Except as required by law, the Company has no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, or changes in the Company’s expectations.

Investor contact:
Mike Valley or Mark Klausner
ICR Westwicke
443-213-0499
ir@neuronetics.com

Media contact:
evolve
646-517-4220
NeuroStar@evolvemkd.com

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