James Beers's questions to Neuronetics Inc (STIM) leadership • Q3 2024
Question
James Beers of William Blair sought to clarify if the guidance reduction was primarily from treatment sessions and asked for an update on adolescent adoption and the international business. He also questioned why the expanded Better Me Provider (BMP) program wasn't offsetting weakness and asked to confirm the cash flow breakeven timeline.
Answer
CFO Stephen Furlong confirmed the Q4 weakness is mostly related to treatment sessions. CEO Keith Sullivan added that adolescent adoption remains a strong opportunity, particularly within the Greenbrook network post-acquisition. He stated the international focus is on sustaining the business while prioritizing the U.S. market. Furlong clarified that the correct timeline for achieving cash flow breakeven is the third quarter of 2025, not the second.