Neuronetics Inc
NASDAQ:STIM

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Neuronetics Inc
NASDAQ:STIM
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Price: 1.27 USD -1.55% Market Closed
Market Cap: $87m

Neuronetics Inc
Investor Relations

Neuronetics, Inc. commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. The company is headquartered in Malvern, Pennsylvania and currently employs 175 full-time employees. The company went IPO on 2018-06-28. The firm is focused on designing, developing, and marketing products for patients who suffer from neurohealth disorders. Its commercial product, the NeuroStar Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation (TMS) to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The NeuroStar Advanced Therapy System is used to treat adult patients with major depressive disorder (MDD). The firm intends to continue to pursue development of its NeuroStar Advanced Therapy System for additional indications. The firm sells its NeuroStar Advanced Therapy System and recurring treatment sessions in the United States. Its primary focus is on selling to psychiatrists, with primary care physicians and pain management specialists.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 17, 2026
AI Summary
Q4 2025

Revenue: Total Q4 revenue was $41.8 million, up 86% year-over-year; adjusted pro forma revenue grew 23% versus prior year.

Profitability: Company achieved positive operating cash flow in Q4 ($0.9 million) but reported a net loss of $7.2 million ($0.10 per share); Q4 EBITDA was negative $4.3 million, an improvement versus negative $11.0 million a year ago.

Clinic momentum: Greenbrook clinic revenue was $23.5 million in Q4 (up 37% adjusted pro forma); total treatment volume up 18% YoY in Q4 and clinic referrals and outreach accelerated meaningfully.

NeuroStar: NeuroStar revenue was $18.3 million in Q4 (pro forma +9%); shipped 49 systems in the quarter with strong ASPs and treatment session revenue of $12.4 million (pro forma +6%).

Guidance: 2026 revenue guide $160M–$166M (midpoint >9% growth vs 2025); Q1 revenue guide $33M–$35M; full-year gross margin guide 47%–49%; operating cash flow expected negative $13M to negative $17M for 2026 with positive cash flow in H2.

Strategic pipeline: Company is preparing clinics for a potential COMP360 (psilocybin) launch with Compass Pathways and expects limited incremental clinic investment if approved.

Leadership and balance sheet: CEO transition announced (Dan Reuvers to become CEO March 23); company paid $5.0 million to amend Perceptive debt and ended Q4 with $34.1 million total cash ($28.1M cash & equivalents, $6.0M restricted).

Key Financials
Total revenue (Q4 2025)
$41.8 million
Adjusted pro forma revenue growth (Q4 2025)
23%
NeuroStar business revenue (Q4 2025)
$18.3 million
U.S. NeuroStar system revenue (Q4 2025)
$4.4 million
NeuroStar systems shipped (Q4 2025)
49 systems
U.S. treatment session revenue (Q4 2025)
$12.4 million
Clinic revenue (Q4 2025)
$23.5 million
Treatment volume (Q4 2025)
up 18% year-over-year
Treatment session utilization growth (pro forma)
11%
Gross margin (Q4 2025)
52%
Operating expenses (Q4 2025)
$26.7 million
Net loss (Q4 2025)
$7.2 million
Net loss per share (Q4 2025)
$0.10 per share
EBITDA (Q4 2025)
negative $4.3 million
Cash and cash equivalents (Dec 31, 2025)
$28.1 million
Restricted cash (Dec 31, 2025)
$6.0 million
Total cash (Dec 31, 2025)
$34.1 million
Cash provided by operations (Q4 2025)
$0.9 million
Perceptive principal payment
$5.0 million
SPRAVATO clinics live
84 clinics
Referring providers added (Q4 2025)
430 new providers
Patient referrals (2025)
over 1,300 new referrals added across 2025
Patient referrals (Q4 2025)
over 2,300 patient referrals
Field physician outreach (2025)
more than 47,000 physician outreach activities
Better Me Provider (BMP) program sites
over 420 active sites (end of 2025)
Patients connected via BMP since inception
more than 66,000 patients
2026 total revenue guidance
$160 million to $166 million
Q1 2026 revenue guidance
$33 million to $35 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Keith J. Sullivan
President, CEO & Director
No Bio Available
Mr. Stephen J. Furlong M.S.
Executive VP, CFO & Treasurer
No Bio Available
Mr. Rusty Page
Senior VP of Operations & Quality
No Bio Available
Ms. Lisa Metzner-Rosas
Senior VP & Chief Marketing Officer
No Bio Available
Ms. Sara Grubbs
Senior VP & Chief Revenue Officer
No Bio Available
Mr. Rick Grubbs
Senior Vice President of National Accounts
No Bio Available
Mr. Cory S. Anderson
Senior Vice President of R&D and Clinical
No Bio Available

Contacts

Address
PENNSYLVANIA
Malvern
3222 Phoenixville Pike
Contacts
+18776007555.0
neurostar.com
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