Neuronetics Reports FY23 Preliminary Unaudited Total Revenue Is Expected To Be Over $71M As Compared To Previously Stated Guidance Of $70M-$72M
Portfolio Pulse from Benzinga Newsdesk
Neuronetics, Inc. reported preliminary unaudited total revenue for FY23 over $71M, slightly below the high end of its guidance range of $70M-$72M. The company saw a record Q4, with over 20% utilization growth among local consumable customers and increased usage by Greenbrook. The company achieved positive cash flow of over $1M in Q4. Looking ahead to 2024, Neuronetics is set to expand the Better Me Guarantee Provider pilot program, with 100 customer sites starting in January and over 275 eligible later in the year.
January 08, 2024 | 1:46 pm
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POSITIVE IMPACT
Neuronetics (STIM) reported FY23 revenues over $71M, indicating a solid performance against guidance. The company's record Q4 and positive cash flow, along with plans to expand the NeuroStar program, may positively influence investor sentiment.
The reported revenue exceeding $71M shows a positive outcome against the company's guidance, which can instill confidence in investors about the company's financial health. The record Q4 performance and the positive cash flow are indicators of strong operational efficiency. The expansion plans for the NeuroStar program suggest a commitment to growth, which could be seen as a positive signal for future revenue streams. These factors combined are likely to have a positive short-term impact on STIM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100