NeuroOne Medical Technologies Corporation (NMTC), a Minnesota-based medical technology firm in its developmental stage, announced its preliminary unaudited revenue figures for the fiscal first quarter concluding on December 31, 2024.
The company anticipates achieving a record revenue of $6.2 million for the first quarter of fiscal year 2025, a significant rise from $1.0 million in the corresponding quarter of the previous year.
This revenue includes a one-time collaboration payment of $3.0 million as part of the expanded distribution agreement with Zimmer Biomet for the commercial roll-out of the OneRF™ Ablation System, which was announced in October 2024. This amount is set to be fully recognized during the first quarter of 2025.
The earlier announcement highlighted that the agreement with Zimmer also features an additional milestone payment for NeuroOne, contingent upon meeting specific performance targets. This arrangement is projected to substantially boost revenue growth and enhance product margins for the company.
For the first quarter of 2025, NMTC expects its product revenues to surge by 227%, reaching $3.2 million compared to last year's $1.0 million. NeuroOne upholds its product revenue forecast, excluding collaboration revenues, within the range of $8.0 to $10.0 million. Moreover, product gross margins are projected to fall between 47% and 51% for the entire fiscal year 2025.
On Friday, NMTC's stock closed at $1.1312, marking a 5.72% increase on the Nasdaq Capital Market.
