NEURONETICS Reports 7.8% Increase in Total Revenue for Q2 2023
August 18, 2023
☀️Earnings Overview
For the quarter ending June 30, 2023, NEURONETICS ($NASDAQ:STIM) reported total revenue of USD 17.6 million, an increase of 7.8% compared to the same period in FY2022. Net income for this quarter was USD -4.9 million, an improvement from the net loss of USD 10.4 million in the same quarter of the prior fiscal year.
Analysis
GoodWhale has conducted an analysis of NEURONETICS‘ wellbeing and has given them a Risk Rating of medium. This rating implies that NEURONETICS is a medium risk investment when it comes to financial and business aspects. GoodWhale detected 3 risk warnings in NEURONETICS’ income sheet, balance sheet, and cash flow statement. To view these risk warnings, one must become a registered user. After becoming a registered user, the user can view the risk warnings associated with NEURONETICS and can make an informed decision about investing in the company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Neuronetics. NEURONETICS_Reports_7.8_Increase_in_Total_Revenue_for_Q2_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 67.85 | -31.32 | -46.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Neuronetics. NEURONETICS_Reports_7.8_Increase_in_Total_Revenue_for_Q2_2023″>More…
| Operations | Investing | Financing |
| -33.65 | 7.95 | 0.68 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Neuronetics. NEURONETICS_Reports_7.8_Increase_in_Total_Revenue_for_Q2_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 100.39 | 54.91 | 1.6 |
Key Ratios Snapshot
Some of the financial key ratios for Neuronetics are shown below. NEURONETICS_Reports_7.8_Increase_in_Total_Revenue_for_Q2_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.5% | – | -44.6% |
| FCF Margin | ROE | ROA |
| -52.8% | -40.3% | -18.8% |
Peers
It is a pioneer in the field of neuromodulation and provides innovative tools to healthcare professionals. The company is at the forefront of developing products to support and improve the lives of those with mental health issues. Its main competitors are BioNexus Gene Lab Corp, Biomark Diagnostics Inc, and bioAffinity Technologies Inc. All four companies are committed to creating effective, efficient, and safe treatments that provide relief from mental health disorders.
– BioNexus Gene Lab Corp ($OTCPK:BGLC)
BioNexus Gene Lab Corp is a biotechnology company that develops and manufactures products for the research and clinical diagnostics markets. The company specializes in the research, development and manufacture of genetic testing products for both research and clinical application. In 2023, BioNexus Gene Lab Corp had a market cap of 88.6M and a Return on Equity of 0.31%. The market capitalization of a company is an indicator of its size and is calculated by multiplying the current share price by the total number of outstanding shares. The company’s Return on Equity, or ROE, is a measure of its profitability, calculated by dividing its net income by its equity. This figure can be used to assess the financial health of a company and its ability to generate profits from its owners’ investments.
– Biomark Diagnostics Inc ($OTCPK:BMKDF)
Biomark Diagnostics Inc is a leading medical diagnostics company that specializes in developing and commercializing innovative diagnostic tests and systems. With a market cap of 12.64M as of 2023, the company is well-positioned to continue growing and expanding its product offerings. Further, the company has demonstrated strong financial performance with a Return on Equity (ROE) of 151.53%. This impressive ROE demonstrates that the company is able to generate returns from the capital provided by its shareholders. The company’s market cap and ROE make it an attractive investment for those seeking long-term returns and growth potential.
– bioAffinity Technologies Inc ($NASDAQ:BIAF)
BioAffinity Technologies Inc is a biotechnology company that develops and commercializes innovative cancer diagnostic tests. Its tests are based on the unique chemical differences between healthy and cancerous cells, allowing for early stage cancer detection. Its market cap of 13.56M as of 2023 reflects the company’s relative size in the industry and its ability to create and maintain a financially successful business. Its Return on Equity of 268.04% is a testament to the company’s impressive returns, indicating a commitment to creating value for shareholders.
Summary
Neuronetics, a publicly traded company, has reported strong results for their quarter ending June 30, 2023. Total revenue increased by 7.8% to USD 17.6 million, while net income significantly improved to a loss of USD -4.9 million from a loss of USD 10.4 million in the same period last year. This indicates that the company is making progress towards profitability and could be a good investment option for investors looking for long-term gains. Given Neuronetics’ impressive financial performance and improving outlook, investors should watch the stock closely and consider adding it to their portfolios.
