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- Neuronetics Inc STIM reported Q2 EPS loss of $(0.29) lower than $(0.41) posted a year ago, but missing the consensus of $(0.24).
- Revenue of $14.2 million, missed the consensus of $14.72 million, increased 46% Y/Y primarily due to increased U.S. treatment session revenue.
- Treatment session revenue reached $10.8 million, +65% Y/Y comparable to second quarter 2019 revenue, primarily driven by increased per click treatment session volume.
- U.S. treatment session revenue per active site was $12,001 compared to $7,406 during the second quarter of 2020.
- Revenues from NeuroStar Therapy System increased 10% Y/Y to $2.6 million because of the higher average selling price and sold 37 systems in the quarter (35 in Q2 2020).
- The gross margin improved to 80.6%, increasing approximately 440 basis points from Q2 of 2020. Cash and cash equivalents totaled $115.8 million.
- Outlook: Neuronetics reaffirmed an FY21 revenue outlook of $59 million - $63 million. For Q3, it forecasts sales of $15 million - $16 million, lower than the $16.51 million consensus.
- Price Action: STIM shares are down 42.8% at $7.45 during the market session on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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