Neuronetics reports Q3 EPS (44c), consensus (23c)

Reports Q3 revenue $18.5M, consensus $19.13M. “We are very excited about the approval of the acquisition of Greenbrook TMS, which positions Neuronetics (STIM) to be one of the largest, and most innovative provider of mental health care in the United States,” said Keith J. Sullivan, President and Chief Executive Officer of Neuronetics. “This strategic combination will significantly enhance our ability to expand access to mental health solutions through a unified commercial organization, while also creating opportunities to accelerate the rollout of additional services like SPRAVATO across our network. By leveraging our complementary strengths – including Greenbrook’s extensive presence in the U.S. and Neuronetics’ industry-leading technology and training programs – we’re building an organization with the unique ability to increase patient access, improve outcomes, and ultimately, drive value for stockholders. Beyond the Greenbrook acquisition, we saw continued progress across our strategic initiatives in the third quarter, highlighted by strong momentum in our adolescent treatment program and encouraging early results from our targeted marketing efforts. We’re more confident than ever in our ability to create meaningful value for patients, providers, and stockholders while advancing mental health treatment.”