Greenbrook TMS (GBNHF) 6 Aug 212021 Q2 Earnings call transcript

Welcome to the Greenbrook TMS Inc.

Second Quarter 2021 Results Conference Call and Webcast. [Operator Instructions] I would like to remind you that this conference is being recorded today and is also being webcast on the company's website at www.greenbrook Tms.com under the Investors section, events. [Operator Instructions] This call contains forward-looking statements, which reflect the current expectations or beliefs of the company's based on current available information.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the company to differ materially from those discussed in the forward-looking statements. intent form actual or events Risk MD&A disclosed the annual cause from differ Factors for could XXXX, company's expectations XX, June current only update SEDAR, under and date the on information forward-looking the that is period results made, XXXX, on the on required XX, company's of EGR to or which by are to website. Any materially in as the company and ended Factors in or disclaims statements unless any the and any available March forward-looking obligations company's dated the statement speaks law. heading which Financial the and would like of TMS Officer I to Chief Bill Broad meeting Chief to Officer. Executive Leonard, President turn Green now Loubser, over Erns Mr. ahead, Go Leonard.

joining thanks, conference for you, today. webcast and and Thank Adrian, call our everyone,

highest XXXX. proud XX% with XX% growth to are announce We to consolidated over revenue results XXXX date quarterly over and QX QX year-over-year our

to quarter, profitability, return This to Quarterly regional a as compared to patient increased new volume treatment achieved XXXX by XXXX. a high starts. volumes operating QX of XX% by and driven we in compared XX,XXX high and QX as XX% treatment a entity record wide to record

a in as additional June QX with XX% XXX by perspective, TMS patient starts From network high by as bringing of XXXX, TMS in is an XXX we X,XXX total to a X New increased added to This XXXX. up XX, center new QX at to QX during centers active and company development the of centers XXXX. to from to year-to-date XXXX. TMS development, compared year-to-date record X,XXX compared X XX% and XXXX XXXX as

previously we remainder or strategy delayed the were to pandemic. to expect XXXX forward COVID-XX move by opportunities with as to our return We that through begin paused growth the center of

a build several We Spravato on successfully MDD program and for and rolled other to particularly innovative We the network continue Pilot health of plan treatments utilizing of for business mental with milestones community-based in setting. of company our centers delivery out are for disorders our also a platform as our other pleased long-term the industry. and TMS

through We progress and expand offering additional develop are bringing and on to to X these pilot the to excited are this to strategy very centers pleased findings, to Spravato now we continue centers, program. made Spravato the TMS XX in our the Based with TMS our total promise offerings Spravato. expect

or could practitioners mechanisms explore utilize the and billing continue the range nurse as the will Spravato. of potentially device practitioners opportunities we to of TMS. these Where enhance with time, At manufacturers associated possible offering from regulatory a to collaborate such to with buy-and-bill the physicians the method for same expand economics using Spravato indications delivery explore We assistance. mid-level also for perspective,

the it company's June a of And on our price we per at placement review will completed million financial Erns proceeds $XX.X shares strengthening XX, gross Finally, more common our over now an of operating non-brokered detailed Loubser. operating balance of a I for XXXX, aggregate CFO, private share effectively to for common sheet. of million, performance, X.X turn and approximately $XX

you, Thank Bill.

quarterly as XXXX. XXXX the the XXXX, revenue XXXX, initial in year-to-date This treatments record increased to mentioned, Year-to-date, $XX.X to market QX by normalize XXXX. XX% a predominantly pandemic. compared as revenue as As million QX XX% record and the onset high to COVID-XX compared to to performed of quarterly million Bill compared QX continue increased by after to conditions XX% is due of $XX to by

more QX to average to $XXX adjustment QX This relationships Average decreased compared established players revenue this predominantly further in treatment million in revenue increase year-to-date represents at X% to we per our attributable that reimbursement to with XXX long-standing XXXX We increase normalized XXXX. growth. per contributed in $X.XX Year-to-date by also certain saw which was as the rates in a treatment regions, from have X% compared XXXX, to variable to XXXX. which year-over-year consideration. cost

in payer as I XX% favorable and said, growth mix XXXX As and XX% year-to-date by continue to higher offset region average conditions to due the XXXX. Same QX was increase The in increased XXXX. reimbursement QX in normalize. sales was revenue primarily market

to return operating to regional profitability. regional a QX XXXX entity marked income. Moving wide operating

offset in of the of our as to XXXX, rate was the to to processes. of attributable marketing $XXX,XXX growth loss eclipse entity income COVID-XX was payer COVID-XX $X.X in over growth XX%. XXXX. to increased cost of attributable is the to structures within record direct associated QX including to of normalization in XXXX. entity-wide cost regulatory, professional aggregate our to the primarily comparative revenue comprehensive these towards QX fees XXXX compliance, on and cost XXXX, also with entity regional as This spend compared earn-out operating and revenue estimate costs in by in related centers consider, entity-wide quarterly began audit-related an by as pandemic XX% insurance The QX This operating in of in financing. On our and for The was by loss pandemic center to shares QX TMS related financing variable loss in with corporate entity period. QX regional was primarily operating the with in same to metrics development and revenue by XXXX. the common is year-over-year QX basis, QX compared in and predominantly fees with associated professional wide XXXX curtailed equity Our loss during a enables the profitability acquisition the in equity Also is results to and due of spend the regional $XXX,XXX increased professional XXXX NASDAQ an QX to year-to-date we operating achieved normalized in adjustment increased predominantly increased consideration recognized QX XXXX, wide operating listing legal million which operating predominantly entity-wide -- impact of wide the Year-over-year, driven million spend not legal this a by compared fees continue regional the the XX% with to paired and of This achieved due regional regional $XXX,XXX listing lessen to occur leverage the conditions related connection This year-to-date NASDAQ, costs as increased to bed QX XXXX. for The cost XX% period momentum we as us operating $X.X QX consideration of loss regional cost result did continued as decreased XXXX, a normalize. existing to increased XX% income $XXX,XXX XXXX. to growth corporate regional market to of scale. Year-to-date relative the COVID-XX that continued impact was TMS on the rate XXXX. to

we From remained the happy As expect so stable. to to that centers more future. a that sheet -- accounts benefit in balance performed treatment the well, the enjoy receivable perspective, from performance a than balance reminder, were the as we

million in June of approximately cash on had we As XX, $XX hand. XXXX,

metrics. Moving on our to core operating

X% centers a year -- grew TMS QX year XXXX, XXX X% end Total the TMA As of ago. incentives of active the over by in center by increased to the year-over-year. from XXX

All in start flat we promote the XXXX an growth leading increased forward to development we opportunities previously mentioned, QX by performed generate QX XX% performed slower by despite remain also lead. The focused on increased into remained summer increased TMS now to to As XXXX, and treatment acceleration treatments Back Bill of performance expect higher performed through indicators patient number relatively increased the record XX% a new of begin you, we which pandemic. X,XXX. The Compared strong, a to consultations by Compared and as start increased as by tightening that with more a of to number to of move number Bill. typical number were X,XXX. will to to delayed new TMS quality XX,XXX consultations future record the specific patients COVID-XX of XXXX, by a the moving XX% season. X%. XX%

Thanks, Erns.

extend to to continues U.S. onset mental to out on This by surrounding revenue recent return continue and of to of reported to factors issues. the also all positions drive We're growth. XX% business volumes health we speaks adults these in we mental believe We entity-wide very new driven the pleased with highest CDC, issues. patient pandemic, U.S. a experienced We awareness access Medical with to and modalities, from abuse, than key to profitability, and grow, patient of COVID-XX high believe substance and market mental focus a of remains examples program. the record the starts. more which sound starts, health shows we after mental consolidated the shifting results our the athletes treatment health mental achieved TMS future According our will other approximately speaking quarterly stigma for essential and As to-date, quarterly fundamentals, forward that health us look away I operating health produced growth. therapy treatment regional professional making mentioned, health the in our results record Spravato Pilot strongly ever. or quarterly a of with well

both indications, through new of treatment ever organic TMS center than stronger advantage growth positioned opportunities, valleys is and business Our expansion TMS M&A. and to new take new

forward now on of Thank patients We today. throughout that, treated take mental the look of on significant questions. have with XXX,XXX now impact the patients treatments health so And over performed, over we'll progress the you for suffering time operator, We your you from a lives positive XX,XXX updated many disorders. keeping to with company XXXX.

of question David with the First Capital. [Operator comes Instructions] line Desjardins from Newman

So sheet XXX getting bit it. COVID on And at impairment centers the placement. private midyear the I you're you and and targeting sorted out of by with initially of was now know XXX, at balance you an sort a

little really densify U.S. how couple and maybe footprint and you've bit kind of plans So you a are. us and got. of a California you are about there's areas what know talk inorganic I the leverage looking just what your And to organic Northeast and at

So half, about? sound about sort your behind you of corporate's business now got plans what back us kind but are maybe excited behind it's you not very can yet, not the just that talk you which of that you, while all

at for we're quite much. that not mainly issue. timing Very to question. due as yet, a Thanks XXX Yes,

we extremely bullish However, XXX year. the expect in and be end we're COVID, conservative more centers bit to pipeline our the of to the range little remain a of due on but by

what the and about M&A kind on Northeast thing? those other U.S., maybe of pipeline of at, jurisdictions, you're like is terms those growth Okay. inorganic jurisdictions in And looking then Bill, California that how

business M&A more model to areas. it talked regional continues terms about of couple it somewhere place, locations pipeline, key from When Strong come One of look pipeline, between our expansion, in centers to corporate provider players strong we that going a as be is of to a at do is target before. and you really XX.X. XX.X that's both have opportunities. in multiple a We

growth XX% and so still we We However, platform need have great add Florida of as those years our of out in locations strategy, of to only advantage age. in centers California. X -- our Michigan, or obviously density take a part of locations, like to

think you'll through growth of combination see of various I a So a couple pipelines.

that with in of your loans. of growth? next term sort you of get of you release, them of tranche you it million you that can't but to X of sort delayed kind know Oxford according get had right And to help it. what an $XX $X to the and the the I you there acquisition inorganic take now look to at sort to draw funds does of tranches get Got it to you first sort access of help have million kind

target. always that relating that, kind profitable funds. the we've next of additional one a we be to is said, terms by a EBITDA year. there's prerequisite main So accessing aim few the in mid- of of kind to of And being that's EBITDA requirements as And kind

kind helpful kind we them But don't be period. in term. -- would anticipate of months the XX of away accessing in that XX to near So over certainly

of obviously, very Excellent. I cetera arms bit, That's kind -- then past and at of mean stigma look reporting alluded that's issues, Bill, if seemed pipeline the pipeline as that. look into that, But how here health as you a emerge depressive and kind just still health. you treatments, if the the younger and people look you the how COVID of mental very, as -- moving think, pipeline, declined strong. past does helpful. but that of sort like et year reduction of -- associated things sort back of mental and to little to And look And does you a COVID of like it half I talk about we as you and vaccines with have disorders the XXXX? maybe look from we demographics and things into move very first-line looks the this number have at

I'm big. Olympics, just saw based past, Phelps mean and you pandemic. is already about I recently talked that talk anymore. there out mean grew still always really there's vials stigma just significantly some own about we've population longer saw on no his the watched underserved reporter you the Michael if in The again, conversations. an the you I in it,

more talking you ever, have than people about it. more So

million for same there therapy. And eligible X.X the think and we we that the still were TMS TMF pandemic. working our time, looked that before when therapy, I are at at COVID. numbers patients probably was was for But at through

So I having they're are taking have right time also, the grand suffering you grandparents, of kids, particular enjoying in the the years, from but now, at moment. still advantage visit think that family they're vacation, a first that people taking this and for X depression,

still the underserved mental extremely pipeline And obviously, So all-time be health high. to I strong. remains think continues an

Thanks, Excellent. of good line, traction here. the ahead but that's

Thank you.

of Next Clarus with line The comes Atkinson from Noel question the Securities.

in done the Well quarter.

a clarifications First couple just of of here.

development for terms of sort in active the of range by new centers? end So XXXX, centers XXX is of that the plus of outlook a

That in active development. is

quarterly previous still sort you targeting question. in mentioned a adjusted for XXXX And Are the you positive of on mid comments from basis? your EBITDA Okay.

We're still that. Correct. towards at

number and So us a me can currently active? you are that give of clinics open

XXX is currently active, with X development. that in remains

Okay.

XX? June since changed hasn't it So

believe at that So I one become June there's since. more that's not active XX.

Okay. really was rate The $X.XX quarter-over-quarter. strong per improvement treatment a average

sort improvement near see to levels. the of the more pipeline term? potential in back you Do normalized You're pre-COVID in any

I contributed factors that. X think really there's that to

percentage consideration. As of you obviously That still a gross of as the, saw, we call declined took for revenue. adjustments it, variable kind

significant one and that's made higher that. then contributed done billing we've So investments some a as factor at job that's reimbursement payers. in great established And getting team, from reimbursement our to they've we mentioned, and

to stabilize the of that as to will continue for level I uplift get better kind So potential $X.XX. with trying That stabilize as in moment is kind priced And and we rates. that upside think that of at with negotiations precoated. we payers should was

marketing a then decent or And expense quarter-over-quarter QX. Perfect. run rate? of was Okay. significant in that in sort local there onetime Was quite slowdown a event a is that

So I think decent rate. that's a run

see the of you And additional spend, to was it, advantage I then the think and had that we COVID. kind QX maintaining product of, call QX, relating lead really and a QX. wanted marketing of in to market take And in abnormal some flow normalization really both of we and in year last momentum.

that. So we've spent normalized more, bit little we a

kind a to basis. So a rate of expected quarterly more on

with Bloom of comes [Operator Martin David Instructions] Burton. line from question the next The

be the I still adjustment said prove delays it you're $X.XX it collecting some payments the about treatment. it be some the that variable some receivables I the didn't per you to which receive question new some ultimately that thought that into of wanted billing, linked consideration to from you COVID, positive. you would aged were also of to the the because year. way there's go I back know QX, be will to to you linked collecting down this But of some going of to

treatment effect. this than these where to in, without effect should revenue So would per quarter? factors in other your more was be QX ultimately, I'm figure the the negative out And trying positive weighing

gross positive to which a do also continued lot that's rates, go-forward of without down, had if mean, collect I look benefit. would been we that rates. kind where uptick. as aged as to percentage QX probably be But the percentage that with have it So revenue to continue to the at variable and stabilize year-to-date consideration, reimbursement positive adjustment will of in relates in we which you The and you as payers a mean I a uptick of traction mentioned, ratchet receivables,

of in But had old that. upside So of yes, in collections lot the a percentage relates terms of QX reflected already that as to on are. provision of some they it there lower remains

year, second be of a higher? bit lower, for bit a So $X.XX modeling per half the the or we should treatment

I on mean aged at I is to think, as Noel, I the elect stable as mentioned upside continue to the with expectation potential moment, mentioned, we, you receivables. if

Gonsalves from Genuity. of comes line with the Tania Canaccord question next The

first, and the like line, So on pretty salaries a uptick material was your G&A it quarter-over-quarter. seems it there wages then,

there run new that was not if of some salary in accounting anything if bonus Just I'm there wondering is rate or the this for? kind or

So rate. were comparing in on in and the obviously of terms important The apples-to-apples. of growth COVID-XX quarter curtailment comparative note, all midst with spend was to really the the a headcount not fronts. We quarter, comparative in less

So that's to thing one consider.

relates be to the a as which be become billing mentioned, we've of But so As yielded rate, you the obviously, comes some reimbursement and TMS people, as investment -- of forward that There compliance in cycle. integration there. in good also kind relates of the kind be the revenue obviously, may and with we efficiencies there. may going investment additional fairly a some a said, also listed heavily it invested as has function, on efficiencies normalized it return There're I significant including can achieve results, company, HR, a to integration.

but kind I same at rate relates of it going growing forward. definitely So what to expect, run rate the is can we not think as this stability

start you when can turn And mid-next you free Any start EBITDA that when will mentioned expectation the turn around flow we idea cash will you seeing year. Perfect. positive? positive

see typically X capital kind that's follow kind or product of working or so quarters a So cycle, but of will I after. that mean, you

from And so because happening potential starts Do able do think And The person been could Perfect. consult. do the shipping then rates, Okay. you to this over online. know consults you bit XX%? little in happen? kind you last lot are have consults historically, rate go lower so, guys to held And when pretty quarter. application if in above been that question conversion it's conversion. Without is of me. the back to of back I a to a that conversion think XX% has

but a to Tania, getting in ability COVID that lot and that Yes. that of calls the unique the offices a bit more situation. little with still I site dealing of up, is a back I sense a do patients think because seeing we're also has kind think for not phone go open still we're are general

So with that but so into still really those we they get we TMS to assuming the better some want therapy yet, for are patients that first-line in don't coming pipeline put treatment. are see pipeline, can candidates of patients the not do a them

I cycles. upside I to to So potential do continue there's kind med as go patient begins would through eventual of think say, sell that what there,

next GMP. line the a from Justin to with question of Keywood comes As Stifel

EBITDA? just mid would target which than question point on entail adjusted centers follow-up that achieving to a range quarter that on EBITDA able just the we the give narrower comment to the any business. and Are take the some current revenue you what EBITDA or place parameters had sales we on a And how leverage could operating positive were next many expecting. see was I of at I in around year. a loss the higher positive had of so the that saw We

our expect on we We given So growth haven't continue guidance I obviously revenue mean, to trajectory. revenue.

adjusted kind to in you There's do cost get regional operating we mentioned, of how our both As positive leverage infrastructure. EBITDA.

corporate an then of G&A. see in and operating income increase and a stabilization So regional you'll

to So we -- of positive really drive current the we growth our continue expect what's EBITDA, kind that's going to continue and trajectory.

ask to EBITDA? can in adjusted way, a I would If at centers, XXX positive business be able different Okay. the achieve

the centers run the just is is, to can certainly that we all Yes. we wanted I can do always business XXX mean we run add centers, XXX profitably. answer

of -- Bill will XXX we'll -- range. in that be we, kind terms of In we mentioned, as

obviously by year-end. more But it's continue to know expect in But but that we've going stop leverage -- XXX, plan don't at be business We in that. to not we to to significantly. in XXX that. is grow got costs associated we And our there's actually operating with -- range the

leverage you the but run will we answer can -- XXX model the evolution if we continue Justin? I'll as question to and centers terms business on centers, So have wait answer basis yes, those Does to we to to add a of operating little question, see profitably scale will in your that regional we centers, is profitability. your for you of of bit say the the

on findings. KPIs on a additional X wondering just what looking monitored then for And I KPIs entire the at were based warrant expansion that you additional be across will to I'm provide from XX. the a had even more helpful. if Spravato perhaps some question material network? And some what expansion very to to Pilot, expand Yes, way it's the the context and clinics additional centers on you in could the the promising

Spravato, patients, treatment of we the terms well. obviously, with of feel regulatory response we model, patients can obviously, the changes our terms to question, slightly a talked to revenue is But within kind and capturing administrative we utilization. we of the in observed care really to really to Great range as was center and now utilizing Justin. out is network the Yes. hoping to focus in higher that move What of offering position send continuing favorable method. a validate from of more needed. wider expanding cover beginning centers product, roll to a reimbursable the patient regions pilot moving were various per to potentially in the the as about, standpoint, with pilot Really, The

the able had saw further patients from opportunity with. that thrilled patient more particular everything to in revenue were we line. We we capture in an were contain to patient. down non-responding attract So We along prior depression the to someone pilot, TMS

Spravato, of with kind offering. we we'll and saw ramp what up continue like the we to So

so disclose of Spravato to patients served you far? you the have able with that Are number

that. disclose our was keep our didn't We standpoint, pilot when faucet launched in we on turned from for that still And results. the get enough either. us It pilot, we to our haven't mind

We field on discuss or TMS our the sent into Greenbrook the doctors for of to Spravato. kind out have both to educators call offering not for

not direct-to-consumer approach Spravato done with We yet. any have

upside So the openings. in more spread model, really of also center terms of but significant within with gaining traction our only getting word out, kind not more

And when you turn do faucet? on that

things. couple we're a the next opportunity. working level that towards a standpoint, really is of in regulatory fact goodness a higher It's greater of the really One and get the to from fact to reimbursable terms trying

patient it's For make with our me, start like an to business really of XXXX our for hitting kind impact position in to Spravato care.

follow-up a Martin from Bloom Burton. have We with David question

far economics. to model the Right with Spravato, TMS mentioned the of could administering or the enhance Spravato is similar as you you in or change line lower? now, profitability As higher

higher. So reimbursement as of bit Bill is a said, little the kind

obviously for which treatment from patient economics The If to contribution come of from in. similar you to does is sensitive What is various of timing is it it very global center the the the economics a us perspective. patient Spravato they TMS. at less look the enhancing

center. demand effectively Spravato the said, the and in adding day contribution times the morning utilize session of economics us lunchtime session, typically the As and are and lower they it to patients the of working and and enhancing patients that like they from themselves enables center. that that What's kind additional capacity drive with we've to late previously does, in because TMS

Okay.

next is The forecasting of EBITDA positive the other adjusted year. mid breakeven question

right get you point have If buffer? of And a breakeven that number mid enough accelerated right year now, plans next it? your plan base growth now a this you big higher would you could do centers delay you'll you regardless? like than to to Or

really, Justin, you ramp take to I to time depends of profitability. organically that new really those to Obviously, mentioned centers, That's add the as like velocity on expansion.

that kind margin. erode So your of will operating regional

at current really that panel I we So the as our mid-XXXX. on breakeven turn and delay the point. plan adjusted develop -- velocity Kind breakeven mentioned, of a EBITDA if will organically, is

a have from We Newman question with Desjardins follow-up David Capital.

quick a Just follow-up.

cost it of targeted drives the has relationship times leveraging centers you in XX just breakeven it I cetera. are promise I'll on the guys with this got mean for well obviously, like there, What that a partnership health still look now, what that parts, your next been mental you our a EBITDA? are And mid operating I Is Spravato? kind psychedelic. year? your looking as if EBITDA, Cybin got centers of call a these of doing you turning Spravato, out, psychedelics, and of the look where think Cybin question few the it, a got your such want there. But sort lot date you and framed have mid-XXXX. terms partnership? year, you but next where do you've you to trying And Spravato of structure, And centers on this in of kind the then take perhaps of et sort sort you've into holistic restaurant terms TMS your if smoothing at you've What leverage of out, in thinking with almost keeping therapy.

them from delivery Obviously, business when and ready. delivery Spravato before, about David. both we there's some our to We're we never psychedelic as kind company we a got be is question, to Greenbrook platform excited what the our TMS. as when kind It's from offer going want to to into about towards opportunities unique talk as this great think TMS talked line. and working But impact who depression, that's someone think go. a probably bottom too the bit OCD, are how drug with early to our we suffering about Cybin. treatment, is place to little of We Great collaboration of standpoint, for only has platform unique felled for

all have staff offers always wanted who experience. be great place a patient We We've great great to this. that deliver could that doctors,

we're XX, that those XX, can single working towards daily that is at basis. don't or patient office on that who the build to So of said number have we a working Cybin really come and because on But and a towards. put what every does yet, experience. is create house as centers to that, What I the not psychedelic we but fact or we're Spravato excellence want before, don't patient we'll to towards it special continue need

covered Okay. thinking thinking else about? And we're could of off? kind into your have you -- have that things service that there any we should offering, Like, there other that be bring is something Or we that's great. of other is you alternative And there out treatments? not it

No.

of those think or significant Do are right potential the We But other I opportunities Medical pipeline newer in expand think to Marketing manufacturers and Officer, a mental opportunities will we it. kind continues from into have Great continue great we this we can the but at always that can staff. to do staff indications lines different development No, we're to now, think Alzheimer's, treatments, us. grow without What patient I open the from we as do product great TMS. continue continues vary for just additional doctors, of that of on also at well treatments. add our level. in current -- will think only health mental the I center but Chief kind really now? kind costs is, model the And with from We chief we think that again, marketplace, capable. Officer, such not experience health. do of look that again, adding

in our Greenbrook to a have this kind think about platform to to with of be them position in difficult challenges. so we're unique that offering that person community-based thrilled And delivery help

Your question with Noel the Atkinson line of Clarus Securities. comes final from

I just want confirm. to

for hopefully buy $X.XX? receiving visit Bill, patient over without would Spravato the a and Greenbrook for So be delivery

That's correct.

codes, but for the period. a combination to the the that our observation of treatment, treatment with In it's of position X essentially and terms

okay, secondly, you -- Okay. Would perfect. do overall think now utilization capacity you then across your And portfolio? what TMS right the clinic is

newer because So be when those in COVID generally as generally on that with operate scalability I'm We centers, we an inefficiencies as to as we new in a XX% earlier. capacity and we assets get we mature at I looking operating especially a basis. there inherent at we're capacity that. company at XX utilization region, about about scheduling, just probably can centers be some we add capacity TMS overall with terms global realistically, centers mentioned in But of are XX% about target as utilization at generally XX% grow --

Yes.

that ability returns my I record to COVID. we're market still a being and see of to impacted still wait of we're by capable with now continue a utilization. dealing show in in our seeing terms normal I see think can't environment. would from perspective, quarters tough We're perform is to

finally Great. Okay. for then me. just And

activity mean on away about OCD. in from there's that or are seeing treatment sort So OCD, earlier, for interest brains initial pretty been good talked What thing? patient for apologies, this reimbursement you I you but of level, volume

increase. think I is patient Yes, there definitely

pipeline We It's in that OCD of think still coverage. care the starting it's the definitely enhancements start to for to policy providers reimbursement great of I get in support -- patient. the are there's I possible terms think terms see starting that and the for providing a reimbursement. BrainsWay to But

in payers now it. the payers follow. right terms to I of But of a most limited expect step, first covering think coverage do the number Our is great and I it's of

staffing get platform kind we from to another reimbursable again, in any center added benefit our terms that indication, needs. that without can additional it's of So of will

turn call now for over will I remarks. the closing back

thank out and forward you, I I their and hearing in of everyone safe to Stay again look to summer. the on today the everyone, rest talking fall. hope coming update you the Greenbrook. Well, for enjoys

conference call. This concludes today's

may You disconnect. now