The Malvern, Penn.-based company reported profits of $3 million, or -41¢ per share, on sales of $17.4 million for the three months ended Dec. 31, 2019, for a bottom-line sales growth of 11% compared with Q4 2018.
Earnings per share were -41¢, 3¢ ahead of The Street where analysts were looking for sales of $16.9 million.
“Our performance in the fourth quarter was in line with our expectations, and we were very pleased to see the continued rapid expansion of our active installed base, which we have sustainably grown by approximately 20% year over year over the last seven quarters,” president and CEO Chris Thatcher said in a news release. “The trend of increased penetration into ‘TMS only providers’ continued during the quarter, which we view as a positive as these are businesses that treat high volumes of patients across multiple treatment locations and have consistently selected NeuroStar Advanced Therapy as their TMS solution of choice for the treatment of major depressive disorder.”
The company expects to log a revenue range of $69 million to $71 million for fiscal year 2020 to represent 10% and 13% year-over-year growth.
Shares in STIM were up 7.14% to $3.15 apiece in mid-morning trading.