NeuroOne Medical Technologies Reports First Quarter Fiscal Year 2025 Financial Results and Corporate Update

NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) recently released its financial results for the first quarter of fiscal year 2025, ending December 31, 2024. The company reported total revenue of $6.3 million, which includes $3.3 million in product revenue and a one-time upfront payment of $3.0 million in license revenue from Zimmer Biomet.

In the first quarter of fiscal year 2025, NeuroOne observed significant growth in various areas compared to the same period the previous year. Product revenue surged by 235% to $3.3 million, while product gross margin saw an increase to 58.9% from 27.2%. Operating expenses decreased by 12% to $3.2 million. The Company also expanded its exclusive distribution agreement with Zimmer Biomet, receiving a $3.0 million upfront license payment in November 2024.

NeuroOne reaffirmed its fiscal year 2025 guidance, expecting product revenue, excluding license revenue, to be between $8.0 million and $10.0 million, representing a substantial increase compared to the previous fiscal year. The company aims to achieve a product gross margin between 47% and 51% for fiscal year 2025.

The Company reported a net income of $1.8 million, or $0.06 per share, for the first quarter of fiscal 2025, a significant improvement from a net loss of $3.3 million, or $(0.14) per share, during the same period the prior year. NeuroOne had cash and cash equivalents of $1.1 million as of December 31, 2024, and secured a working capital of $4.1 million.

Moreover, on February 3rd, the Company informed that it regained compliance with Nasdaq Capital Market’s continued listing standard for the minimum share price requirements under Nasdaq Listing Rule 5550(a)(2).

Management will host an investor conference call and webcast to discuss the financial results and corporate update on Wednesday, February 12, 2025, at 8:30 a.m. Eastern Time. The call will also include a Q&A session for participants.

NeuroOne Medical Technologies Corporation is actively developing minimally invasive and hi-definition solutions for EEG recording, brain stimulation, and ablation cases targeted at patients with various neurological disorders. The company remains optimistic about the future growth prospects and aims at enhancing patient outcomes while reducing procedural costs.

Please note that the forward-looking statements in this press release are subject to known and unknown risks and uncertainties, which might cause actual results to differ materially from the expressed expectations. NeuroOne undertakes no obligation to revise or update any forward-looking statements for any reason, even if new information becomes available in the future.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NeuroOne Medical Technologies’s 8K filing here.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corporation, a developmental stage company, provides solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson’s disease, dystonia, essential tremors, and chronic pain due to failed back surgeries and other related neurological disorders.