MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) has updated its financial results for the fourth quarter and full-year ending December 31, 2024, reflecting revisions related to its acquisition of Greenbrook TMS Inc. The adjustments, which stem from finalizing the company’s audited financial statements, include changes to operating expenses, net loss, and adjusted EBITDA.
The most notable changes include a $0.6 million reduction in Greenbrook’s 2024 bonus accrual, in accordance with purchase accounting principles. This adjustment increased Neuronetics’ operating expenses for Q4 from $25.8 million, as initially reported, to $26.4 million. The company’s net loss for the quarter was revised from $12.2 million to $12.7 million, increasing the net loss per share from $0.33 to $0.34. Adjusted EBITDA also saw a change, dropping from $0.1 million to $(0.4) million.
For the full year 2024, the same revision led to total operating expenses rising to $88.7 million, up from $88.2 million. The company’s net loss increased slightly from $43.2 million to $43.7 million, with an adjusted EBITDA revision from $(21.3) million to $(21.8) million.
The updated results were reflected in the revised consolidated financial statements, which were filed as part of Neuronetics’ Annual Report on Form 10-K on March 28, 2025. While the changes are non-cash in nature, they provide a more accurate portrayal of the financial impact of the Greenbrook acquisition.
These final revisions aim to provide transparency and precision in its reporting, as it continues to integrate Greenbrook TMS and measures its performance through this transformational acquisition.
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