Neuronetics Inc

NASDAQ:STIMUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

---------- --------- Total liabilities 64,736 81,641 ---------- --------- Commitments and contingencies (Note 18) -- -- Stockholders' equity: Preferred stock, $0.01 par value: 10,000 shares authorized; no shares issued or outstanding on September 30, 2024 and December 31, 2023 -- -- Common stock, $0.01 par value: 200,000 shares authorized; 30,317 and 29,092 shares issued and outstanding on September 30, 2024 and December 31, 2023, respectively 303 291 Additional paid-in capital 416,205 409,980 Accumulated deficit (407,127) (376,081) ---------- --------- Total Stockholders' equity 9,381 34,190 ---------- --------- Total liabilities and Stockholders' equity $ 74,117 $ 115,831 ========== ========= NEURONETICS, INC. Statements of Cash Flows (Unaudited; In thousands) Nine months ended September 30, 2024 2023 --------------------- ---------------- Cash flows from Operating activities: Net loss $ (31,046) $ (24,812) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 1,627 1,503 Allowance for credit losses 1,947 369 Inventory impairment 346 1,905 Share-based compensation 4,320 5,693 Non-cash interest expense 580 460 Loss on extinguishment of debt 4,427 -- Changes in certain assets and liabilities: Accounts receivable, net (3,834) (7,933) Inventory 2,718 (2,742) Net investment in sales-type leases 854 1,092 Prepaid commission expense (770) (804) Prepaid expenses and other assets (374) (3,338) Accounts payable (1,524) 54 Accrued expenses (1,166) (4,801) Deferred revenue (506) (817) ------------- ------------ Net Cash used in Operating activities (22,401) (34,171) ------------- ------------ Cash flows from Investing activities: Purchases of property and equipment and capitalized software (1,377) (1,490) Repayment of notes receivable 1,340 731 ------------- ------------ Net Cash used in Investing activities (37) (759) ------------- ------------ Cash flows from Financing activities: Payments of debt issuance costs (2,188) (863) Proceeds from issuance of long-term debt 48,084 2,500 Proceeds from issuance of warrants 1,916 -- Repayment of long-term debt (60,000) (1,200) Payment for debt extinguishment cost (4,185) -- Proceeds from exercises of stock options 1 -- ------------- ------------ Net Cash (used in) provided by Financing activities (16,372) 437 ------------- ------------ Net decrease in Cash and Cash equivalents (38,810) (34,493) Cash and Cash equivalents, Beginning of Period 59,677 70,340 ------------- ------------ Cash and Cash equivalents, End of Period $ 20,867 $ 35,847 ============= ============

Neuronetics to Report Third Quarter 2024 Financial and Operating Results and Host Conference Call

MALVERN, Pa., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced that it plans to release third quarter 2024 financial and operating results prior to market open on Tuesday, November 12, 2024. The Company will host a conference call to review its results at 8:30 a.m. Eastern Time the same day.