First Quarter Fiscal 2025 Revenue Includes a One-Time Upfront Payment of $3.0 Million in Collaboration Revenue from Zimmer Biomet and $3.2M in Product Revenue

Management to Host Virtual Investor Webinar Today at 11:00 a.m. Eastern Time

EDEN PRAIRIE, Minn., Jan. 10, 2025 (GLOBE NEWSWIRE) -- NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) ("NeuroOne" or the "Company"), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced preliminary unaudited revenue for the fiscal first quarter ended December 31, 2024.

In the first quarter of fiscal 2025, the Company expects total revenue to increase to a record $6.2 million, compared to $1.0 million the first quarter of fiscal 2024. The first quarter of fiscal 2025 includes a one-time $3.0 million payment of collaboration revenue from the expanded distribution agreement with Zimmer Biomet for commercialization of the Company's OneRF™ Ablation System, which was announced in October 2024 and is expected to be fully recognized in the first quarter of fiscal 2025. As previously announced, the agreement with Zimmer will provide NeuroOne with an additional milestone payment if certain performance criteria are achieved and is expected to generate meaningful revenue and expand product margins for the Company.

In addition to the collaboration revenue of $3.0 million, the Company expects product revenues to increase 227% to $3.2 million in the first quarter of fiscal 2025, compared to product revenue of $1.0 million in the first quarter of fiscal 2024. For the full year of fiscal 2025, the Company is reiterating guidance specific to product revenues, which exclude collaboration revenues, to range between $8.0 and $10.0 million, with product gross margin to range between 47% and 51%.