Neuronetics Reports Preliminary Fourth Quarter and Fiscal 2021 Financial Results

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MALVERN, Pa., Jan. 10, 2022 (GLOBE NEWSWIRE) – Neuronetics, Inc. (NASDAQ: STEM), a commercial-stage medical technology company focused on the design, development and commercialization of products that improve the quality of life of patients with neurohealth disorders, today announced certain preliminary unaudited fourth quarter and fiscal 2021 sales results.

Fourth quarter 2021
Preliminary unaudited total revenues for the fourth quarter of 2021 are expected to be in the range of approximately $ 14.5 million to $ 15.0 million, compared to previously stated guidance of $ 13.0 million to $ 14.0 million.

Full year 2021
Preliminary unaudited total revenue for full year 2021 is expected to be around $ 54.8 million to $ 55.3 million, compared to previously stated guidance of $ 53.3 million to $ 54.3 million. dollars.

“Despite the headwinds associated with COVID-19 that persisted in 2021, our team delivered strong performance in the fourth quarter, mainly due to increased volumes of treatment sessions in our clientele and strong demand for new ones. systems, ”said Keith J. Sullivan. , President and CEO of Neuronetics. “Throughout the year, we made significant progress on several of our strategic initiatives, preparing to drive our future growth, including entering into new exclusive trade agreements with several national accounts. As the macro environment continues to be fluid, we are very excited about our outlook for 2022. We plan to build on our strong momentum at the start of the year and are confident in our team’s ability to drive adoption. widespread use of NeuroStar Advanced Therapy for Mental Health. “

About neuronetics
Neuronetics, Inc. believes mental health is as important as physical health. As a global leader in neuroscience and the industry’s largest MSD company, Neuronetics is redefining the expectations of patients and physicians by designing and developing products that improve the quality of life for people with psychiatric disorders. An FDA-approved non-invasive, non-drug, non-invasive treatment for people with depression, NeuroStar from Neuronetics® The Advanced Therapy System is today the leading transcranial magnetic stimulation (TMS) treatment for major depressive disorder with over four million treatments administered. NeuroStar is extensively researched and supported by the largest clinical data set of any TMS system for depression, including the world’s largest depression outcome registry. Neuronetics is committed to transforming lives by providing an exceptional treatment option that produces extraordinary results. For safety information and directions for use, visit NeuroStar.com.

Safe Harbor Declaration under the Private Securities Litigation Reform Act of 1995:

Statements in the press release regarding Neuronetics, Inc. (the “Company”) that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified. by words such as “prospect”, “potential”, “believe”, “expect”, “plan”, “anticipate”, “predict”, “could”, “want”, “could”, “should ”And“ should ”as well as the negative of such terms and expressions. These statements include those relating to: the business outlook and current expectations of the Company for the fourth quarter of 2021 and fiscal 2021, including with respect to revenues and any underlying assumptions. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on any forward-looking statements contained in this press release. These risks and uncertainties include, but are not limited to, risks and uncertainties related to: the impact of COVID-19 on the Company’s operational and budgetary plans as well as general political and economic conditions, including as a result of efforts by government authorities to mitigate COVID-19, such as travel bans, shelter-in-place orders and business closures by third parties and the related impact on resource allocation, chains manufacturing and supply and patient access to commercial products; the Company’s ability to ensure the continuity of its activities; the Company’s ability to complete or maintain profitable operations due to its history of losses; the company’s reliance on the sale and use of its advanced NeuroStar therapy system for mental health to generate income; the scale and effectiveness of the Company’s sales force; the availability of coverage and reimbursement by third party payers for treatments using the Company’s products; demand from physicians and patients for treatments using the Company’s products; developments in competing technologies and therapies for the indications that the Company’s products treat; product defects; the Company’s ability to obtain and maintain intellectual property protection for its technology; developments in clinical trials or regulatory review of the NeuroStar advanced therapy system for mental health for additional indications; and regulatory developments in the United States and other applicable jurisdictions. For a discussion of these and other related risks, please refer to the company’s recent filings with the SEC, which are available on the SEC’s website at www.sec.gov. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this press release. Except as required by law, the Company assumes no obligation or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in the Company’s expectations. .

Investor contact:
Mike Vallie or Mark Klausner
ICR Westwicke
443-213-0499
[email protected]

Media contact:
EvolveMKD
646-517-4220
[email protected]

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