Neuronetics Q2 revenue beats estimates on Greenbrook clinic strength
STIM•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
- Wall Street's median 12-month price target for Neuronetics Inc is $4.00, about 84.3% above its August 10 closing price of $2.17
Revenue and margin drivers
- GREENBROOK GROWTH - Co said higher Greenbrook clinic revenue drove overall revenue increase
- GROSS MARGIN IMPROVEMENT - Co attributed higher gross margin to new go-to-market strategy and improved revenue cycle management at Greenbrook clinics
- LOWER OPERATING EXPENSES - Co said decrease in operating expenses was mainly due to lower general and administrative and sales and marketing costs
Quarterly results beat estimates
- US interventional mental health firm's Q2 revenue rose 9%, beating analyst expectations
- Adjusted EBITDA turned positive, net loss narrowed from prior year
- Company strengthened leadership team with new CFO and other executive appointments
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $41.57 mln | $40.18 mln (4 Analysts) |
