MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) has shared its preliminary fourth quarter and full-year revenue figures for 2024, alongside robust guidance and strategic priorities for 2025. The report highlights significant achievements including the acquisition of Greenbrook TMS and the expansion of initiatives aimed at revenue growth and operational efficiency.
Neuronetics reported preliminary unaudited revenue of $22.1 million for the fourth quarter and $74.5 million for the full year 2024, which includes contributions from Greenbrook TMS since the acquisition’s close on December 9, 2024. The company expects 2025 revenue to grow by 12% to 19%, forecasting total revenue of $145 million to $155 million on a pro forma basis.
“We have brought together two of the nation’s leading mental health device companies,” said Keith J. Sullivan, President and Chief Executive Officer of Neuronetics. “This new organization can leverage its combined scale and expertise to deliver faster revenue growth and a significantly improved cost structure, accelerating our path to profitability.”
Greenbrook TMS Acquisition Delivers Synergies
Neuronetics successfully completed its acquisition of Greenbrook TMS, uniting NeuroStar’s advanced technology platform with Greenbrook’s 95-clinic network. The integration has already achieved over $22 million in annualized cost synergies, with more than 90% implemented.
Strategic integration initiatives are in full motion to optimize both Greenbrook and NeuroStar performance. The acquisition is expected to underpin further revenue growth and broaden the accessibility of innovative mental health treatments.
Better Me Provider Program Boosts Patient Access
Launched in mid-2024, the Better Me Provider (BMP) program has significantly enhanced patient access and care responsiveness. With more than 350 active sites and 125 additional locations preparing to join, BMP has demonstrated faster patient engagement timelines and improved therapy delivery standards.
FDA Approval Expands Market Reach
Earlier in 2024, the FDA granted Neuronetics clearance for its NeuroStar Advanced Therapy as a first-line adjunct for major depressive disorder (MDD) in adolescents aged 15 to 21. This expanded the company’s addressable market by 35% to include 29.3 million patients.
2025 Business Outlook
Neuronetics projects strong financial improvements in 2025 including achieving cash flow breakeven by the third quarter. Additional priorities include advancing its partnerships, scaling revenue growth initiatives, and maintaining a gross margin of approximately 55%. Operating expenses are expected to range between $90 million and $98 million.
“We are incredibly excited about the future at Neuronetics,” added Sullivan. “We will continue to take advantage of the opportunities that exist to expand our leadership positions across both sides of our business, expand patient access to innovative mental health treatments, and drive value for shareholders.”
With its strategic integration of Greenbrook clinics, innovative clinical initiatives, and clear focus on profitability, Neuronetics is poised for a transformational year ahead.
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