NeuroOne Reports $1.7M Product Revenue and Strategic Advancements in Latest 10-Q Filing

NeuroOne Medical Technologies Corporation reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated product revenue of $1.7 million for the three months ended June 30, 2025, a substantial increase from $825,776 in the same period last year. For the nine months ending June 30, 2025, total product revenue reached $6.4 million, compared to $3.2 million for the same period in 2024. The gross profit for the quarter was $914,835, reflecting a gross margin of 53.9%, up from 34.1% in the prior year, primarily due to higher-margin OneRF products being sold.

The company’s operating expenses decreased to $2.8 million for the three months ended June 30, 2025, down from $3.1 million in the previous year. This reduction was attributed to lower selling, general, and administrative expenses, which fell to $1.6 million from $1.9 million, largely due to decreased legal and investor relations costs. Despite these reductions, NeuroOne reported a net loss of $1.5 million for the quarter, an improvement from a net loss of $2.8 million in the same quarter of 2024. For the nine-month period, the net loss was $2.0 million, significantly lower than the $9.0 million loss reported in the prior year.

Strategically, NeuroOne has made notable advancements, including the execution of an Amended and Restated Distribution Agreement with Zimmer, Inc., which grants Zimmer exclusive rights to distribute the OneRF Ablation System. This agreement included an upfront payment of $3.0 million and potential future milestone payments. Additionally, the company filed a 510(k) submission with the FDA for its OneRF Trigeminal Nerve Ablation System, aimed at treating facial pain, further expanding its product offerings.

Operationally, NeuroOne has seen an increase in its customer base, with one customer accounting for 100% of product revenue in the latest quarter, compared to 80% in the same quarter of the previous year. The company’s cash and cash equivalents stood at approximately $8.0 million as of June 30, 2025, a significant increase from $1.5 million at the end of the previous fiscal year. This improvement in liquidity is attributed to successful financing activities, including net proceeds of approximately $8.2 million from an equity financing in April 2025.

Looking ahead, NeuroOne anticipates continued revenue growth driven by its product sales and strategic partnerships. However, the company acknowledges the ongoing challenges of achieving profitability and may require additional funding to support its operations and product development initiatives. The management remains optimistic about the potential for increased product revenues and improved gross margins, which they believe will be sufficient to meet obligations for at least the next twelve months.