NeuroOne Medical Technologies Corporation (NMTC) a Minnesota-based developmental stage medical technology company Friday has released preliminary unaudited revenue for the fiscal first quarter ending December 31, 2024.
The company expects revenue to reach a record $6.2 million in the first quarter of fiscal 2025, an increase from $1.0 million during the same quarter last year.
This includes a one-time $3.0 million collaboration payment from the expanded distribution agreement with Zimmer Biomet for the commercialization of the OneRF™ Ablation System, announced in October 2024, and expected to be fully recognized in the first quarter of 2025.
As announced earlier, the agreement with Zimmer includes an additional milestone payment for NeuroOne if specific performance criteria are met. It is expected to drive significant revenue growth and improve product margins for the company.
NMTC expects product revenues to rise by 227%, reaching $3.2 million in the first quarter of 2025, an increase compared to $1.0 million last year. Also, NeuroOne maintains its product revenue guidance, excluding collaboration revenues, in the range of $8.0 to $10.0 million, with product gross margins expected between 47% and 51% for the full fiscal year 2025.
Friday NMTC closed at $1.1312 or 5.72% higher on the Nasdaq Capital Market.
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