Neuronetics Expects Q2 Total Worldwide Revenue Between $18.0M-$19.0M Vs. $19.47M Estimate, Company Sees FY24 Revenue Between $78M-$80.0M Vs. $79.13M Estimate
Portfolio Pulse from Benzinga Newsdesk
Neuronetics projects its Q2 total worldwide revenue to be between $18.0M-$19.0M, falling short of the $19.47M estimate. For FY24, the company anticipates revenue between $78M-$80M, aligning closely with the $79.13M estimate.
May 07, 2024 | 11:41 am
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NEGATIVE IMPACT
Neuronetics expects its Q2 revenue to be below estimates but forecasts FY24 revenue to be in line with expectations.
The short-term impact on STIM's stock price is likely negative due to the Q2 revenue forecast missing estimates, indicating potential short-term challenges. However, the FY24 revenue forecast aligns with estimates, suggesting a positive outlook in the longer term. The immediate reaction to the Q2 miss may overshadow the FY24 alignment, hence the negative score.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100