Nexstim Plc Business Update Q1 2024

Press release, Helsinki, 26 April 2024 at 9 AM (EEST)

Nexstim Plc Business Update Q1 2024

Nexstim Plc (NXTMH:HEX) (”Nexstim” or ”Company”) announces the key highlights of the Company’s business operations during Q1 2024.

CEO Mikko Karvinen’s Business Update

In line with our main strategic objective, we have continued to focus on profitable net sales growth. The sales of new systems at the beginning of this year has been slow, which is typical considering that hospitals' budgets focus on purchases towards the end of the year. We continued to grow our Diagnostics and Therapy Businesses with new system sales in our key markets in the United States and Europe. Between January and March 2024, we delivered a total of 2 new NBS systems and we are progressing according to our growth plans with our full year 2024 sales pipeline development. We have moved forward with projects that are crucial for the company's strategic competitive advantage, such as the development of our new NBS 6 diagnostics product, enabling easy-to-use systems and future add-on modules in the same hardware. Discussions with potential new strategic partners have continued with the intention to further scale the use of our technology.

In the Diagnostics Business, about 230 NBS systems have been sold to research universities and leading hospitals across the world to date. We have continued investing in our presence at the most significant international events in our field. In January, we participated in the Harvard Medical School Intensive Course in Transcranial Magnetic Stimulation (TMS) held in Boston, MA and in the Duke TMS CourseI held at Duke University School of Medicine, Durham, NC. It has been a great pleasure to meet both current and new potential customers and engage into a lot of fruitful discussions about future needs in this area. We are very happy about the continuously growing interest towards using the Nexstim system in both diagnostic and therapeutic applications. We see the combination platform as a clear competitive advantage, and we want to expand the offering of this platform in the form of the latest generation NBS 6 combination system to key markets worldwide.