Nexstim Plc Business Update Q1 2024 - Seite 2

In the Therapy Business, at the end of Q1 2024 there were a total of 86 Nexstim systems with therapy capabilities installed worldwide (30 in the U.S. and 56 in Europe and the rest of the world) for the treatment of depression and chronic neuropathic pain. This number includes both NBT and NBS 6 systems and NBS systems with optional NBT add-on software installed. Nexstim’s systems are highly differentiated from other currently available TMS products due to its unique and highly sophisticated 3D navigation that uses its proprietary E-field algorithm to visualize the exact location, orientation, and magnitude of the stimulation. The therapeutic application areas we have chosen (MDD, major depressive disorder and chronic pain) are indications where our unique technology is already delivering clear clinical results and contributing to the profitability of our customers' operations. In the future, the need for navigation capabilities is likely to become even more important in technologies that could treat brain diseases in an increasingly diverse range of ways. This could open a new market for TMS treatments for Nexstim, distinct from the current treatment of patients with severe depression or chronic neuropathic pain.

Nexstim has successfully expanded its global distribution partner network over the past few years, and we believe that further significant growth, particularly in the Diagnostics business, can be achieved through increasingly broad marketing and distribution partnerships. Through such strategic distribution partnerships, it is possible to cost-effectively reach an increasing number of customers with information about Nexstim's system and services, as well as potential representation in markets where it would not be as quickly and economically feasible to build on our own. The technological leadership of our products, their ease of use and the scalability of additional modules create an attractive platform for growth through partnerships.

Despite the tightening global political situation, our expectations for 2024 remain in many ways positive. Nexstim will continue its determined efforts to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders. We strongly believe that our work will support long-term shareholder value growth through stronger competitive advantages, rapid growth, and improved financial results. We remain optimistic about the future but will continue to monitor developments in the global political landscape while advancing our own business.