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Neuronetics reported record first-quarter 2024 financial and operating results with revenue of $17.4 million, a 12% increase year-over-year. The U.S. treatment session revenue increased by 22%, and NeuroStar Advanced Therapy system revenue was $3.3 million. The company achieved a major milestone with FDA clearance for NeuroStar as a first-line adjunct treatment for adolescent major depressive disorder. Operating expenses decreased, resulting in a net loss of $(7.9) million for the quarter.
Neuronetics, Inc. granted inducement awards of Restricted Stock Units to thirteen new non-executive employees totaling 55,650 shares of common stock. The awards were approved under NASDAQ Listing Rule 5635(c)(4) as incentives for their employment. The RSU grants vest over four years subject to continued service, following the terms of the Neuronetics 2020 Inducement Plan.
