Slide 1: Company Presentation: Transforming Lives Through NeuroHealth
Exhibit 99.2 COMPANY PRESENTATION NASDAQ: STIM March 2025 Transforming Lives Through NeuroHealth
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains estimates and other statistical data prepared by independent parties and by Neuronetics, Inc. (“Neuronetics” or the “Company”) relating to market size and growth and other data about the industry in which the Company operates. These estimates and
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), from time to time we may use or publicly disclose certain non-GAAP financial measures in the course of our financial presentations, earnin
Slide 4: Presenters
Presenters 38+ years of experience 39+ years of experience Keith Sullivan Steve Furlong President & Executive Vice President, Chief Executive Officer Chief Financial Officer & Treasurer Company Confidential 4
Slide 5: Stronger Together
206,000 Unique Patients Treated 7,365,000 Treatments Administered STRONGER together Two of the nation’s largest mental health and $129M device companies are now combined to create an 1 annual revenue (2024) organization with the ability to leverage its scale and capabilities to treat more patients s
Slide 6: A Diversified Business Model with Strategic Advantages
A Diversified Business Model with Strategic Advantages from the Company’s Combined Expertise Neuronetics is now a vertically integrated organization providing greater access to mental health treatments through our collective expertise NeuroStar Greenbrook Market Leader in Transcranial Magnetic Menta
Slide 7: Stronger Commercial Footprint & Opportunity Together
Stronger Commercial Footprint & Opportunity Together Greenbrook Locations: Together, with Better Me Provider Operating 95 Treatment (BMP) practices… we have over 350 Clinics in 15 States BMP clinics in 49 states Greenbrook Total Amount of 53,000 Patients Patients Treated 1.7M treatments Company Conf
Slide 8: A Compelling Investment Opportunity
A Compelling Investment Opportunity Combines one of the U.S.’s most utilized therapeutic platforms for the treatment of MDD with one of the largest service providers to renew even more lives Large patient population best served by managing the therapeutic paradigm Multiple initiatives in place to dr
Slide 9: Senior Leadership
Senior Leadership Management Team Board of Directors Cory Anderson Geoffrey Grammer, Keith Sullivan Steve Furlong Rob Cascella Avinash Amin, MD Sheryl Conley Sasha Cucuz SVP, Chief MD President & CEO EVP, CFO Board Chairman Technology Officer and Treasurer Chief Medical Officer Sara Grubbs Andrew Ma
Slide 10: Millions of Lives Affected by Depression and OCD
Over 29 Million Lives Affected by Depression and OCD Nearly 8 million patients are poorly served by antidepressant medication • Lack of Treatment Efficacy Total Available Market • Intolerable Side Effects Adult Depression (MDD) Adolescent Depression 4 4.3 million suffering 1 29.3 million 21 million
Slide 11: Positioned to Capitalize on Innovations in Mental Health
Our Combined Company is Positioned to Capitalize on Innovations in the Mental Health Space Medication Management Interventional Medical Patients Medication Technology Psychotherapy Company Confidential 11
Slide 12: #1 Physician Recommended TMS
#1 Physician Recommended TMS We’re inspired every day by the opportunity to help people live more fulfilling lives Dedicated to Practice 1 Market Leader in TMS Success Over 7.1 million treatment Largest direct sales and sessions performed in over customer support team in the 195,000 patients industr
Slide 13: NeuroStar New Adolescent Indication
As the Market Leader, NeuroStar is Revolutionizing Mental Health with New Adolescent Indication NeuroStar is the only FDA-cleared TMS st 1 and Only to Market 1 treatment for adolescent depression For adolescents, NeuroStar can be used as an st add-on treatment, without prior medication 1 Line Treatm
Slide 14: Proven, Long-Term Relief for MDD
1 Proven, Long-Term Relief for MDD Real-World Clinical Results Clinically Proven Durability 2 1 for Patients with MDD through 12 Months 83% Improvement in depression 1 symptoms 62% Symptom relief 1 (remission) (1) Dunner DL, et al. (2014). J Clin Psychiatry. 75(12):1394-1401. (2) Sackeim HA, et al.
Slide 15: Better Me Program Transforms the Lives of More Patients
Better Me Program (BMP) Transforms the Lives of More Patients Designed to lead the industry in the standards for patient care 350+ NeuroStar Clinics are in BMP Program 4x more patients treated in BMP vs. non-BMP *Clinical evidence demonstrates superior outcomes for patients who complete a course of
Slide 16: Better Me Practices Quickly Addressing Interested Patients
With the 5-Standards, Better Me Practices are Quickly Addressing Interested Patients in Need 2.2x Faster from potential patient interest to MT 2023 2024 84 days 38 days All patient interest in Active BMP Local Consumable Offices; Feb 1, 2024 – Dec 31, 2024 vs. PY Company Confidential 16
Slide 17: NeuroStar University Delivers Clinical and Operational Education
NeuroStar University Delivers Impactful Clinical and Operational Education By December 2024, attendees to NSU increased patient treatment 58% more than accounts that did not attend.* NSU Utilization Performance Index Baseline index values are based on January 2022 utilization. Excludes new sites fro
Slide 18: Partnering with Practices to Build Local Consumer Awareness
Partnering with Practices to Build 1 – this one Local Consumer Awareness Co-Op Marketing: collaborative effort with practices to increase local patient awareness while sharing advertising costs +17% +14% treatment session utilization* in new MTs* * Data on file, Neuronetics, Inc. Company Confidentia
Slide 19: SPRAVATO Program
® SPRAVATO Program ® • In March 2019, the FDA approved SPRAVATO (esketamine) nasal spray, in conjunction with an oral antidepressant, for Treatment Resistant Depression in adults and in August 2020, the FDA added a second indication for depressive symptoms in adults with MDD with acute suicidal idea
Slide 20: Key Growth Initiatives for Network Clinics
Key Growth Initiatives for Network Clinics Focus on execution, profitable product diversification & expansion Drive growth in 95 clinics through enhanced RAM clinic Identifying and engagement, leveraging automated referral systems Educating Patients and optimized digital/DTC targeting ® Fill the gap
Slide 21: Key Growth Initiatives for Customer Clinics
Key Growth Initiatives for Customer Clinics Harnessing the power of our proven programs to help more patients in need Expand referral networks for 350+ BMP Clinics to Expand BMP Network increase patient flow, 125+ additional sites committed to the program Continued implementation of fully optimized
Slide 22: Comprehensive Direct Sales & Customer Support Team
Comprehensive Direct Sales 40 Practice Development Managers & Customer Support Team 10 10 Reimbursement Area Sales Specialists & Managers Managers 02 21 Experienced team Regional Clinical Training Account Managers Managers dedicated to consistent growth and practice success 07 18 Field Service Custo
Slide 23: Significant Realized Cost Synergies
1 Significant Realized Cost Synergies Total Cost Saving Efforts $22.6M (Annualized Expected Savings) Fully Executed Expected 1H 2025 Greenbrook Additional NNI RIF/Spend Reductions Clinics Reductions $5.1M $1.3M $16.2M (Annualized Expected (Annualized Expected (Annualized Expected Savings) Savings) S
Slide 24: Improved Financial Profile Adds Scale and Strength
Improved Financial Profile Adds Scale and Strength Fourth quarter and full year revenue 2024 was $22.5M and $74.9M, respectively 1,2 1,2 4Q 2024 FY 2024 Neuronetics Gross Pro Forma Revenue $19.2M Neuronetics Gross Pro Forma Revenue $71.6M Intercompany Eliminations ($2.4M) Less Intercompany Eliminati
Slide 25: Non-GAAP Financial Measures (Unaudited)
Non-GAAP Financial Measures (Unaudited) Neuronetics Adjusted Pro Forma Revenue is not a measure of financial performance under generally accepted accounting principles in the U.S. (“GAAP”), and should not be construed as a substitute for, or superior to, GAAP revenue. However, management uses both t
Slide 26: Poised to Deliver Mid-Teens Growth and Profitability
Poised to Deliver Mid-Teens Growth and Profitability FY 2025 Guidance Revenue $145M to $155M (+12% to +19% Pro Forma YoY) Gross Margin Approximately 55% Operating Expenses $90M - $98M Profitability Cash flow positive beginning in Q3 2025 Company Confidential 26
Slide 27: Financial Overview
Financial Overview NeuroStar Advanced Therapy for Mental Health Company Confidential 27
Slide 28: Annual Revenue
Annual Revenue ($ in ($ in m illions million)s) Annual Product Revenue (US) Annual Revenue by Geography $80 $80 $74.5 $72.5 $69.3 $71.3 $1.9 $70 $2.4 $1.9 $63.4 $4.4 $70 $2.0 $65.2 $1.8 $1.7 $60 $60 $50 $50 $72.5 $50.9 $69.3 $63.4 $50.8 $40 $40 $45.1 $30 $30 $20 $20 $10 $10 $16.6 $16.5 $15.3 $0 $0 2
Slide 29: Worldwide Quarterly Revenue
Worldwide Quarterly Revenue ($ in ($ in m illions million)s) Q4 2024 Revenue of $22.5M, an 11% increase from Q4 2023 $35 $28.0 - $30.0 $30 $25 $22.5 $20.3 $20 $18.5 $17.9 $17.6 $17.4 $16.5 $15.5 $15 $10 $5 $0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Guidance Company Co
Slide 30: Results of Operations
Results of Operations ($ in ($ in thousand thousasn)ds) Three Months Ended December 31, 2023 2024 Revenues $20,314 $22,493 11% YOY Growth Gross Profit 15,771 14,893 78% 66% Gross Margin Operating Expenses: 11,716 9,854 Sales and Marketing % of Revenues 58% 44% 6,276 10,216 General and Administrative
Slide 31: Financial Position
($ in thousands) Financial Position ($ in thousands) As of December 31, 2024 Cash and Cash Equivalents $18,459 Other Assets $114,990 Total Assets $133,449 Long-term debt, net $55,151 Convertible Preferred Stock Warrant Liability $0 Convertible Preferred Stock $0 Accumulated Deficit ($419,285) Total
Slide 32: Supplemental Information
Supplemental Information NeuroStar Advanced Therapy for Mental Health Company Confidential 32
Slide 33: Local Consumables New MTs & Utilization
Local Consumables New MTs (New Patient Starts) & Utilization Local Consumable Monthly Utilization & New MTs Jan 2021 – Dec 2024 45,000 1,300 40,000 35,000 1,100 30,000 25,000 900 20,000 700 15,000 10,000 500 5,000 - 300 Utilization New MT's Company Confidential 33
Slide 34: Supplemental Financial and Operating Information
Supplemental Financial and Operating Information ($ in thousands) For the period ended December 31, 2024 2023 2024 2023 2024 Revenue ($ thousands) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY FY Total U.S. NeuroStar Advanced Therapy System Revenues $3,850 $4,489 $3,597 $4,524 $3,310 $4,000 $4,108 $3,849 $16,460 $15,2