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Helius Medical Technologies (HSDT)
NASDAQ:HSDT
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Helius Medical Technologies
(NASDAQ:HSDT)
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Rating:46Neutral
Price Target:
$15.50
▲(11.67% Upside)
Helius Medical Technologies faces significant financial challenges, with declining revenue and negative profitability being the most critical factors. While technical indicators show some positive momentum, the stock's valuation is unattractive due to ongoing losses. The overall score reflects the company's need to improve financial stability and operational efficiency.
Positive Factors
Innovative Product Offering
The PoNSTM device represents a unique product in the neurological therapeutic market, potentially offering a competitive edge and driving future revenue growth through its non-invasive treatment approach.
Digital Asset Strategy
The strategic move into digital assets could diversify revenue streams and enhance financial stability, providing a buffer against traditional market volatility.
Cash Reserves
Strong cash reserves provide Helius with the flexibility to invest in R&D, pursue strategic acquisitions, and withstand financial challenges, supporting long-term operational sustainability.
Negative Factors
Declining Revenue
A significant decline in revenue indicates potential challenges in market demand or competitive pressures, which could impact the company's ability to sustain operations and invest in growth.
Negative Profitability
Consistent net losses and negative profit margins highlight operational inefficiencies and financial instability, posing risks to long-term viability and investor confidence.
Negative Cash Flow
Negative cash flow challenges the company's ability to fund operations and strategic initiatives, potentially leading to liquidity issues and limiting growth opportunities.
Helius Medical Technologies (HSDT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.40M
Dividend YieldN/A
Average Volume (3M)916.98K
Price to Earnings (P/E)―
Beta (1Y)0.02
Revenue Growth-50.34%
EPS Growth75.15%
CountryUS
Employees21
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,077,257
10 Day Avg. Volume2,692,069
30 Day Avg. Volume916,980
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap-0.30
Enterprise Value/Revenue-16.80
Enterprise Value/Gross Profit18.84
Enterprise Value/Ebitda0.24
Forecast
1Y Price Target
$15.50Price Target Upside11.67% Upside
Rating ConsensusHold
Number of Analyst Covering1
Helius Medical Technologies Business Overview & Revenue Model
Company DescriptionHelius Medical Technologies, Inc., a neurotechnology company, focuses on developing, licensing, and acquiring non-invasive technologies for the treatment of symptoms caused by neurological disease or trauma. Its product, Portable Neuromodulation Stimulator (PoNS), is a non-surgical medical device intended for use as a short term treatment of gait deficit due to symptoms from multiple sclerosis and balance deficit due to mild-to-moderate traumatic brain injury, as well as to be used in conjunction with supervised therapeutic exercise. The company is headquartered in Newtown, Pennsylvania.
How the Company Makes MoneyHelius Medical Technologies generates revenue primarily through the sale of its PoNSTM devices, as well as related accessories and services. The company may also explore reimbursement opportunities from insurance providers for the use of its technology in clinical settings. Key revenue streams include direct sales to healthcare providers, hospitals, and clinics, as well as potential partnerships with larger medical organizations that may distribute their products. Additionally, research and development collaborations with academic institutions or government grants may provide supplemental funding, enhancing the company's financial stability.
Helius Medical Technologies Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q2-2024)
| % Change Since: |
Next Earnings Date:Aug 14, 2025
Earnings Call Sentiment Neutral
The earnings call presented several significant achievements, particularly in terms of partnerships, insurance reimbursements, and progress toward stroke authorization. However, it also highlighted a decrease in revenue year-over-year and a flat operating loss, suggesting financial challenges. Despite these lowlights, the positive developments in market access and potential revenue growth indicate a cautiously optimistic outlook.Q2-2024 Updates
Positive Updates
Partnership with Lovell Government Services
In April, Helius Medical partnered with Lovell Government Services to make PoNS Therapy accessible to MS patients treated at the VA and through other federal agencies, potentially benefiting 65,000 to 70,000 veterans in the U.S. living with MS.
Major Insurance Reimbursement
In May, Helius Medical received the first third-party reimbursement of $23,900 from a major insurance carrier for a PoNS device, marking a significant milestone in establishing market pricing.
Inclusion in Government Contracts
PoNS was approved for inclusion in the VA federal supply schedule and the General Services Administration Advantage contracts, as well as in Lovell's DAPA contract for the Department of Defense with established pricing.
Progress in Stroke Authorization
Significant progress was made towards stroke authorization in the U.S., with full enrollment in the registration program, aiming for FDA submission in 2025.
Revenue Increase Over Previous Quarter
Revenue for Q2 2024 was up 35% compared to Q1 2024 due to increased sales in both the U.S. and Canada.
Negative Updates
Year-over-Year Revenue Decline
Total revenue for Q2 2024 was $182,000, a decrease of $74,000 compared to Q2 2023 due to the termination of the Patient Therapy Access Program and temporary cash pay pricing.
Flat Operating Loss
The operating loss for Q2 2024 was $3.2 million, the same as the prior year period, indicating no improvement in reducing losses.
Company Guidance
During the second quarter of 2024, Helius Medical Technologies made significant progress in expanding access to its PoNS Therapy, particularly for veterans with MS. Key accomplishments include partnering with Lovell Government Services, securing approvals for inclusion in VA and GSA contracts, with pricing set at $23,843.72 for the PoNS device and $7,344.97 for the mouthpiece. Additionally, the therapy received its first third-party reimbursement of $23,900. PoNS was also approved for the Department of Defense’s DAPA contract, with device pricing at $23,724.50 and the mouthpiece at $7,308.25. These milestones are critical as Helius seeks CMS reimbursement, with HCPCS codes already assigned and final rates expected to be published soon. The company is also advancing its stroke authorization initiative, with studies underway in the U.S. and Canada, aiming for FDA submission in 2025. Financially, the company reported $182,000 in revenue for Q2 2024, a decrease from the previous year, but saw a 35% increase from Q1 2024 due to rising sales in the U.S. and Canada. Operating losses remained steady at $3.2 million, with a net loss of $1.6 million in the quarter.Helius Medical Technologies Financial Statement Overview
Summary
Helius Medical Technologies faces significant financial challenges, with declining revenue and consistent net losses leading to a negative profit margin. The balance sheet shows minimal debt but reduced equity, and cash flow is strained with negative free cash flow, reflecting poor operational cash generation.Income Statement
Helius Medical Technologies has shown declining revenue over recent years with a significant drop from $644,000 in 2023 to $520,000 in 2024. The company reports consistent net losses, with a net profit margin of -2257.69% in 2024. The EBIT and EBITDA margins are both negative, indicating operational difficulties. Revenue growth is negative, further reflecting the challenging business environment.30
Negative
Balance Sheet
The company's balance sheet reveals a highly leveraged position with a debt-to-equity ratio of 0.01 in 2024, indicating minimal use of debt financing. However, stockholders' equity has decreased over time, reducing financial strength. The equity ratio is 29.89%, suggesting a moderate reliance on equity financing. Return on equity is negative due to consistent net losses.40
Negative
Cash Flow
The cash flow statement indicates negative free cash flow of -$11,046,000 in 2024, signaling cash flow challenges. The operating cash flow to net income ratio is negative, reflecting poor cash generation from operations compared to net losses. Despite some financing cash inflows, the company struggles with cash outflows, impacting its liquidity position.35
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 295.00K | 520.00K | 644.00K | 787.00K | 522.00K | 661.00K |
| Gross Profit | -263.00K | -62.00K | 61.00K | 324.00K | 224.00K | -90.00K |
| EBITDA | -20.35M | -13.80M | -12.11M | -14.50M | -17.82M | -13.65M |
| Net Income | -21.29M | -11.74M | -8.85M | -14.07M | -18.13M | -14.13M |
Balance Sheet | ||||||
| Total Assets | 7.89M | 3.54M | 7.69M | 17.29M | 14.10M | 6.55M |
| Cash, Cash Equivalents and Short-Term Investments | 6.08M | 1.09M | 5.18M | 14.55M | 11.01M | 3.33M |
| Total Debt | 0.00 | 12.00K | 57.00K | 110.00K | 3.00K | 91.00K |
| Total Liabilities | 1.87M | 2.48M | 5.34M | 9.14M | 2.85M | 2.68M |
| Stockholders Equity | 6.03M | 1.06M | 2.35M | 8.15M | 11.26M | 3.87M |
Cash Flow | ||||||
| Free Cash Flow | -11.44M | -11.05M | -10.45M | -14.33M | -13.44M | -11.80M |
| Operating Cash Flow | -11.44M | -11.04M | -10.42M | -14.31M | -13.39M | -11.74M |
| Investing Cash Flow | 0.00 | -5.00K | -29.00K | -11.00K | -56.00K | -9.00K |
| Financing Cash Flow | 11.13M | 6.95M | 1.08M | 17.87M | 21.13M | 9.64M |
Helius Medical Technologies Technical Analysis
Negative
13.88
Price Trends
9.08
Positive
53.17
Negative
221.13
Negative
Market Momentum
1.94
Negative
51.18
Neutral
19.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HSDT, the sentiment is Negative. The current price of 13.88 is above the 20-day moving average (MA) of 12.46, above the 50-day MA of 9.08, and below the 200-day MA of 221.13, indicating a neutral trend. The MACD of 1.94 indicates Negative momentum. The RSI at 51.18 is Neutral, neither overbought nor oversold. The STOCH value of 19.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HSDT.
Helius Medical Technologies Risk Analysis
Helius Medical Technologies disclosed 45 risk factors in its most recent earnings report. Helius Medical Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Helius Medical Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
48 Neutral | 23.41M | -1.66 | -140.01% | ― | 2.65% | 70.21% | |
46 Neutral | $16.40M | ― | -344.28% | ― | -50.34% | 75.15% | |
43 Neutral | 4.66M | -0.26 | ― | ― | -58.49% | 84.67% | |
42 Neutral | 12.53M | -0.44 | -283.10% | ― | -40.47% | 96.14% | |
42 Neutral | 9.18M | 0.36 | 178.66% | ― | -73.36% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
HSDT
Helius Medical Technologies
13.88
-407.09
-96.70%
NURO
Neurometrix
4.58
0.61
15.37%
SINT
Sintx Technologies
4.54
1.28
39.26%
PAVM
PAVmed
0.42
-0.81
-65.85%
VVOS
Vivos Therapeutics
3.12
0.51
19.54%
TIVC
Tivic Health Systems
2.96
-1.28
-30.19%
Helius Medical Technologies Corporate Events
Private Placements and FinancingShareholder Meetings
Helius Medical Technologies Enters New Sales Agreement
Neutral
Sep 15, 2025
On September 15, 2025, Helius Medical Technologies, Inc. entered into a Sales Agreement with Clear Street LLC and Maxim Group LLC to offer and sell shares of its Class A common stock, with a potential aggregate sales price of up to $92.8 million. This agreement follows the termination of a previous sales agreement with Roth Capital Partners, LLC. The company has also agreed to pay commissions to the agents and cover certain legal expenses. Additionally, at a special meeting on May 23, 2025, stockholders approved an increase in the number of authorized shares of common stock to 800 million.
The most recent analyst rating on (HSDT) stock is a Sell with a $7.00 price target. To see the full list of analyst forecasts on Helius Medical Technologies stock, see the HSDT Stock Forecast page.
Business Operations and StrategyPrivate Placements and Financing
Helius Medical Technologies Raises $500M for Solana Strategy
Positive
Sep 15, 2025
On September 15, 2025, Helius Medical Technologies announced the signing of securities purchase agreements with accredited investors, raising over $500 million in a private equity offering to implement a SOL treasury strategy. The company plans to use the proceeds to acquire SOL, the native cryptocurrency of the Solana blockchain, and establish its Solana treasury operations, aiming to leverage Solana’s architecture for yield-generating opportunities in decentralized finance and broader on-chain activity. This strategic move positions Helius to significantly enhance its presence in the crypto technology sector, with potential implications for increased institutional and retail access to the Solana ecosystem.
The most recent analyst rating on (HSDT) stock is a Sell with a $7.00 price target. To see the full list of analyst forecasts on Helius Medical Technologies stock, see the HSDT Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.