Neuronetics CFO Stephen Furlong sells shares worth $48,662

Stephen Furlong, Executive Vice President, Chief Financial Officer, and Treasurer of Neuronetics , Inc. (NASDAQ:STIM), recently sold 14,836 shares of the company’s common stock. The shares were sold at a weighted average price of $3.28 per share, with transactions occurring at prices ranging from $3.51 to $3.95. According to InvestingPro data, STIM has shown remarkable momentum with a 427% return over the past six months, though current analysis suggests the stock is trading above its Fair Value. This sale, which totaled $48,662, was part of a non-discretionary transaction to satisfy tax withholding obligations upon the vesting of a restricted stock unit award. Following the sale, Furlong retains ownership of 482,572 shares. The company maintains strong liquidity with a current ratio of 3.16, though investors should note that STIM is not currently profitable, with a negative EBITDA of $23.48 million in the last twelve months.

In other recent news, Neuronetics, a key player in neuroscience, has launched a public stock offering, with Canaccord Genuity LLC serving as the sole bookrunner. The offering is contingent upon market and other conditions, and the final terms are yet to be determined. In financial developments, Neuronetics’ recent acquisition of Greenbrook TMS has resulted in a consolidated revenue of $129.8 million for 2024, with over $22 million in annualized cost synergies. For the fiscal year 2025, the company projects a revenue range of $145.0 million to $155.0 million, a gross margin of approximately 55%, and operating expenses between $90.0 million and $98.0 million. In its Q3 2024 earnings call, Neuronetics reported a 4% rise in total revenue, with the acquisition of Greenbrook TMS expected to close in Q4 2024, bringing in estimated cost synergies of $20 million. The company is also implementing a strategic reorganization to achieve $3.5 million in annualized expense reductions, with a target to break even in cash flow by Q3 2025. These recent developments reflect Neuronetics’ strategic moves to enhance operational efficiencies and foster revenue growth.

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