Neuronetics announces public stock offering

MALVERN, Pa. - Neuronetics , Inc. (NASDAQ: NASDAQ:STIM), a global leader in neuroscience with a market capitalization of $197 million, has launched an underwritten public offering of its common stock, the company disclosed today. The offering includes a 30-day option for the underwriter to purchase up to an additional 15% of the shares sold in the public offering. The stock has shown remarkable momentum, gaining over 103% year-to-date according to InvestingPro data.

Canaccord Genuity LLC is serving as the sole bookrunner for the transaction. The completion of the offering is contingent upon market and other conditions, and there is no certainty regarding the completion time frame or the offering’s final terms.

The sale of shares is pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission on November 9, 2022, and declared effective on November 14, 2022. The offering is being made solely by means of a prospectus supplement and the accompanying prospectus that are part of the registration statement.

Neuronetics is known for its NeuroStar Advanced Therapy, a non-drug, noninvasive treatment aimed at improving the quality of life for individuals with neurohealth conditions, particularly when traditional medication has been ineffective. The company, which maintains a healthy gross profit margin of 78.3% and generated revenue of $72.7 million in the last twelve months, also operates Greenbrook TMS Inc. treatment centers, which provide NeuroStar Therapy for major depressive disorder and other mental health disorders. InvestingPro subscribers can access 8 additional key insights about Neuronetics’ financial health and growth prospects.

The company has cautioned that the forward-looking statements related to the public stock offering are subject to significant risks and uncertainties, and actual outcomes may differ materially from what is projected. While the company maintains strong liquidity with a current ratio of 3.16, InvestingPro analysis suggests the stock is currently trading above its Fair Value. Investors are advised not to place undue reliance on these forward-looking statements. For comprehensive analysis, investors can access the detailed Pro Research Report, available for Neuronetics and 1,400+ other US stocks on InvestingPro.

This news is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such an offer would be unlawful.

"In other recent news, Neuronetics, a neuroscience technology firm, reported its unaudited revenue for the fourth quarter and the full year of 2024. The company announced revenues of $22.1 million for the fourth quarter and $74.5 million for the year. Following the recent acquisition of Greenbrook TMS, a network of mental health treatment clinics, Neuronetics’ consolidated revenue rose to $34.7 million for the fourth quarter and $129.8 million for the full year of 2024. The company anticipates a 12% to 19% increase in revenue for 2025, ranging from $145.0 million to $155.0 million.

In other developments, Neuronetics has identified over $22 million in annualized cost synergies from the Greenbrook TMS acquisition, with more than 90% already implemented. The company is also targeting cash flow breakeven by the third quarter of 2025. In 2024, Neuronetics launched the Better Me Provider program and also received FDA clearance for its NeuroStar Advanced Therapy. These recent developments highlight the company’s ongoing efforts to enhance mental health treatment accessibility and care."

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