Neuronetics, Inc. (STIM) · 10+ Years of Financial statements

Income Statement	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	34	40	53	63	49	55	65	71
+ Sales & Services Revenue	34	40	53	63	49	55	65	71
- Cost of Revenue	7	10	12	15	12	12	15	20
+ Cost of Goods & Services	7	10	12	15	12	12	15	20
Gross Profit	28	31	40	47	38	44	50	52
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	37	44	60	74	60	71	85	82
+ Selling, General & Admin	29	36	52	60	51	63	75	73
+ Research & Development	8	8	8	14	9	8	9	10
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	-9	-14	-20	-27	-22	-28	-35	-31
- Non-Operating (Income) Loss	2	2	4	2	5	4	2	- -
+ Interest Expense, Net	2	3	4	4	5	4	4	5
+ Interest Expense	2	3	4	4	5	4	4	5
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	1	-2	1	- -	-2	-5
Pretax Income	-11	-16	-24	-29	-27	-31	-37	-30
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-11	-16	-24	-29	-27	-31	-37	-30
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-11	-16	-24	-29	-27	-31	-37	-30
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-11	-16	-24	-29	-27	-31	-37	-30
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-11	-16	-24	-29	-27	-31	-37	-30
Basic Weighted Avg Shares	- -	- -	9	18	19	25	27	29
Basic EPS, GAAP	-1,021.27	-1,459.91	-2.69	-1.58	-1.46	-1.22	-1.38	-1.05
Basic EPS from Cont Ops	-1,021.27	-1,459.91	-2.69	-1.58	-1.46	-1.22	-1.38	-1.05
Diluted Weighted Avg Shares	- -	- -	9	18	19	25	27	29
Diluted EPS, GAAP	-1,021.27	-1,459.91	-2.69	-1.58	-1.46	-1.22	-1.38	-1.05
Diluted EPS from Cont Ops	-1,021.27	-1,459.91	-2.69	-1.58	-1.46	-1.22	-1.38	-1.05
EBITDA	-9	-13	-19	-26	-21	-27	-33	-29
EBITDA Margin (%)	-25.31	-32.18	-35.91	-41.28	-43.39	-47.92	-51.32	-40.01
EBITA	-9	-14	-20	-27	-22	-28	-35	-31
EBIT	-9	-14	-20	-27	-22	-28	-35	-31
Gross Margin (%)	80.65	76.18	76.42	75.44	76.54	78.93	76.26	72.47
Operating Margin (%)	-27.28	-33.66	-37.58	-42.98	-45.3	-49.83	-53.85	-42.82
Profit Margin (%)	-32.82	-39.72	-45.66	-46.35	-55.75	-56.39	-56.99	-42.31
Sales per Employee	- -	- -	396,812	266,621	390,825	316,069	336,113	351,468
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	1	1	1	1	1	1	2	2

Balance Sheet	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	23	37	114	88	65	115	99	94
+ Cash, Cash Equivalents & STI	17	29	105	77	51	96	72	61
+ Cash & Cash Equivalents	17	29	105	76	49	94	70	60
+ ST Investments	- -	- -	- -	1	2	2	2	1
+ Accounts & Notes Receiv	4	4	6	7	7	8	14	18
+ Accounts Receivable, Net	4	4	6	7	7	8	14	16
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	2
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	2	2	2	3	4	7	9	8
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	2	2	2	3	4	7	9	8
+ Other ST Assets	1	1	2	3	3	5	4	7
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2	2	3	12	14	26	18	22
+ Property, Plant & Equip, Net	2	1	-1	3	2	3	2	5
+ Property, Plant & Equip	3	3	1	5	4	5	5	8
- Accumulated Depreciation	2	2	2	2	2	3	3	3
+ LT Investments & Receivables	- -	- -	- -	2	2	2	1	1
+ LT Investments	- -	- -	- -	2	2	2	1	1
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	1	3	7	10	22	15	17
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	1	3	7	10	22	15	17
Total Assets	25	39	117	100	79	141	117	116
+ Payables & Accruals	4	6	11	14	11	13	17	9
+ Accounts Payable	1	3	4	5	4	4	2	5
+ Accrued Taxes	- -	- -	1	1	1	1	1	1
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	2	3	7	8	7	8	14	4
+ ST Debt	4	- -	- -	12	1	1	14	1
+ ST Borrowings	4	- -	- -	11	- -	- -	13	- -
+ ST Finance Leases	- -	- -	- -	1	1	1	1	1
+ Other ST Liabilities	5	6	2	2	2	3	2	10
+ Deferred Revenue	1	2	2	2	2	3	2	2
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	3	4	- -	- -	- -	- -	- -	8
Total Current Liabilities	13	12	14	28	14	16	33	20
+ LT Debt	16	30	30	23	38	39	26	62
+ LT Borrowings	16	30	30	20	35	35	23	59
+ LT Finance Leases	- -	- -	- -	3	3	4	3	2
+ Other LT Liabilities	173	190	2	2	2	1	1	- -
+ Accrued Liabilities	- -	2	2	2	2	1	1	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	173	188	- -	- -	- -	- -	- -	- -
Total Noncurrent Liabilities	189	220	32	25	39	40	27	62
Total Liabilities	202	232	46	52	53	56	60	82
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	4	4	292	298	303	394	403	410
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	4	4	292	298	303	394	403	410
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-181	-197	-221	-250	-278	-309	-346	-376
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	-177	-193	71	48	25	85	57	34
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	-177	-193	71	48	25	85	57	34
Total Liabilities & Equity	25	39	117	100	79	141	117	116
Shares Outstanding	- -	17	18	19	19	26	27	29
Capital Leases - Total	- -	- -	- -	3	4	4	4	3
Net Debt	3	- -	-74	-45	-14	-59	-34	- -
Net Debt to Equity	-1.75	-0.21	-104.43	-93.12	-56.24	-69.04	-60.26	-1.15
Tangible Common Equity Ratio	-714.27	-494.77	60.71	47.77	32.41	60.31	48.82	29.52
Current Ratio	1.72	3.09	8.44	3.19	4.75	7.34	2.98	4.73
Cash Conversion Cycle	- -	44.21	13.85	0.03	31.22	108.79	172.91	163.39
Number of Employees	- -	- -	133	235	126	175	194	203

Cash Flow Statement	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-11	-16	-24	-29	-27	-31	-37	-30
+ Depreciation & Amortization	1	1	1	1	1	1	2	2
+ Non-Cash Items	1	1	4	4	6	9	10	10
+ Stock-Based Compensation	- -	- -	2	3	4	8	9	7
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	2
+ Other Non-Cash Adj	1	1	2	1	2	1	1	1
+ Chg in Non-Cash Work Cap	1	3	-2	-7	-8	-7	-5	-14
+ (Inc) Dec in Accts Receiv	- -	-1	-1	-1	-1	-3	-6	-9
+ (Inc) Dec in Inventories	-1	-1	- -	- -	-1	-3	-3	-1
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	-5	-3	-2	- -	-4
+ Inc (Dec) in Accts Payable	2	2	1	2	-3	1	5	- -
+ Inc (Dec) in Other	- -	3	- -	-2	-1	1	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-9	-11	-21	-30	-28	-28	-31	-32
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	-1	-1	-1	-1	-2	-3	-2
+ Acq of Fixed Prod Assets	- -	-1	-1	-1	-1	-2	-3	-2
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	-7	10	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	- -	-1	-1	-1	-1	-10	7	-1
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	5	10	- -	- -	2	- -	- -	24
+ Cash From Debt	5	10	- -	- -	41	- -	- -	25
+ Repayments of Debt	- -	- -	- -	- -	-39	- -	- -	-1
+ Cash (Repurchase) of Equity	- -	- -	100	- -	- -	81	- -	- -
+ Increase in Capital Stock	- -	- -	100	- -	- -	81	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	- -	14	-3	2	- -	2	- -	-1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	5	24	97	2	2	83	- -	23
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-4	12	75	-29	-27	45	-24	-11
EBITDA	-9	-13	-19	-26	-21	-27	-33	-29
EBITDA Margin (%)	-25.31	-32.18	-35.91	-41.28	-43.39	-47.92	-51.32	-40.01
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow	-9	-12	-22	-31	-29	-30	-34	-34
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-2	-22	-31	-27	-30	-34	-11
Free Cash Flow per Basic Share	-805.91	-1,067.09	-2.41	-1.7	-1.55	-1.19	-1.26	-1.2
Price/Free Cash Flow	- -	- -	-8.68	-2.75	-7.52	-4.17	-6.33	-2.71
Cash Flow to Net Income	0.76	0.69	0.85	1.05	1.03	0.9	0.83	1.06

Neuronetics, Inc.

STIM US

2.02