Steve Furlong: Thanks, Adam. We submitted for this 510(k) approval back in June of last year. The soonest that we expected that approval was September ’28. We have been geared up for it since that time and have a PR firm lined up, have a marketing plan all put together and have been adjusting it for the last nine months. We are ready to go to talk to adolescent psychiatrist with the adolescent nurse practitioners. We have a marketing campaign directed at the parents of the adolescents. All of that will be kicked off on May 15th in New York City with our press event. We think that there is significant interest. And as we said in the script, we have already seen it. At our summit, we have about 15 physicians that prior to the clearance had no knowledge of TMS in their practice and no thought that they would be able to use it to help the adolescents that they’re treating. I think this is a good opportunity for us.
Operator: Our next question comes from Margaret Kaczor at William and Blair. Your line is now open.
Margaret Kaczor: I think, I want to focus on treatment sales and U.S. treatment growth. I mean, we’re seeing an acceleration on a slightly tougher comp on a year-over-year basis relative to what we saw in Q4. You’ve got two quarters now of 20% plus, but I understand part of that is comps and so on, but still seems pretty powerful. And then to the extent that you’re talking about average local treatment growth over 30%, I mean, those are numbers that a few years back, I’m not sure anyone would have expected. So, I don’t know if that’s Better Me Guarantee, if that’s MSU, know, all of it all combined obviously. But, I guess, I’m just trying to dive into that a little bit more. It seems like if the average is over 30%, the folks in Better Me or NSU should be much higher than that.
So one, is that the right assumption to be had? And then two, what does that mean for sustainable growth? Because that doesn’t have adolescent. It doesn’t — it assumes couple of hundred folks right now in Better Meet Guarantee. So just trying to as we look towards 2025 understand what these trends could mean?
Keith Sullivan: The Better Me Guarantee Program is working exactly as we had hoped. I actually think it’s better than we had thought. With 204 sites in the program now, we are actually accelerating the access to the program. So, we’re going to add 50 new sites on May 15 and 50 more on June 3. We are seeing that if a site is not in the program, on average, they do about three patients a quarter. If a site has committed to be in the program and is working towards getting meeting all five of our standards, they treat about 6.2 patients a quarter. But if they’re in the program and they’ve met all the standards and they’re keeping up with all of them and we have to monitor them on a monthly basis. They are treating 10.7 patients a quarter.
So, we are doing everything we can right now to accelerate access into the program for the accounts that are trying to meet the standards. So, I think now that we have a program that does incorporate NeuroStar University, which I would say probably has the greatest impact on the success of BMGP. I think we are demonstrating to these accounts that if they follow these steps, they will be successful in treating more patients and educating them and then getting them into treatment. So, I think it is sustainable growth.
Margaret Kaczor: And maybe I’ll keep going on this because it seems like a key topic. But now that you’ve had the tenure of folks going to NSU and the first tranche of BMG, correct me if I’m wrong, I think at least six months at this point. Are you seeing some of those trends and statistics that you had referenced get even better, the longer that they are a part of it? Ultimately, where can you go? Because, 200, 250, 300 by midyear is a part of the at least the BMG program, or BMGP — sorry, of the 1,100 to 1,200 accounts that are out there, still seems like a sizable multiyear opportunity. Could you get most of them in there?
Steve Furlong: Our goal is by June 3rd, we will have a little over 300 into the program. I think that, as we continue to get momentum, we will have somewhere 350 to 450 in the program by the end of the year.
Margaret Kaczor: Okay. And does the kind of tranches or tenures of folks within these programs in NSE, do their statistics continue better or do they top out at some point?
Steve Furlong: No. They get better and better, honestly. Their motor thresholds on the people in the program continue to go up. We monitor whether they follow-up with patient leads and follow-up with PHQ-10s and continue to be responsive to patients on the phone. All of them are doing exactly what we need them to do and their business continues to grow. Now with adolescents, I think it is another opportunity for all of these accounts to be able to communicate with the parents of the adolescents.
Operator: Thank you. One moment for our next question. Our final question comes from the line of Danny Stauder of Citizens JMP. Your line is now open.
Danny Stauder: Great. Thanks. Just wanted to ask quickly on average revenue per active site. Nice to see another quarter of double-digit growth. It stepped down a bit sequentially, I was just curious if this was more of a factor of normal seasonality. And then how should we think about this metric for the rest of the year, especially given the longer capital sales cycle we saw in first quarter and what’s maybe implied in second quarter? Thanks.
Steve Furlong: Hey, Danny. It’s Steve. Yes. There was some seasonality that impacted that. Also, there’s always a bit of variability in our overall site count. We are forecasting that metric to continue to improve. Again, with the increase in treatment session revenue and utilization, again, I think double-digit growth throughout the rest of the year and that metric is not out of the realm of possibility.
