Neuronetics, Inc. STIM

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus Nasdaq

Neuronetics, Inc. (the "Company" or "Neuronetics" or the "Registrant") believes that mental health is as important as physical health. As a global leader in neuroscience, the Company is delivering more treatment options to patients and healthcare providers by offering exceptional in-office treatments that produce extraordinary results. The Company's first 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, magnetic resonance imaging ("MRI")-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system is cleared by the United States ("U.S.") Food and Drug Administration (the "FDA") to treat adult patients with major depressive disorder ("MDD") who have failed to achieve satisfactory improvement from prior antidepressant medication in the current MDD episode. It is also cleared by the FDA as an adjunct for adults with obsessive-compulsive disorder ("OCD") and for adolescent patients aged 15-21 with MDD. It is also cleared by the FDA to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression). In addition to selling the NeuroStar Advanced Therapy System and associated treatment sessions to customers, we operate Greenbrook treatment centers ("Treatment Centers") across the U.S., offering NeuroStar Advanced Therapy. Greenbrook, a leading provider of mental healthcare services, is a wholly owned subsidiary of the Company. The NeuroStar Advanced Therapy System is safe, clinically effective, reproducible and precise and we believe is supported by the largest clinical data set of any competing TMS system. Treatment Centers also obtain SPRAVATO® to treat adults with treatment-resistant depression or depressive symptoms in adults suffering from MDD with acute suicidal ideation or behavior. We believe we are the market leader in TMS therapy based on the estimated 237,574 global patients treated with over 8.5 million of our treatment sessions through December 31, 2025. We generated revenues of $149.2 million for the year ended December 31, 2025.

Last close 2.88 2026-09-04
Market cap $219.4M 2026-06-30 share count
52-week range 0.80 - 3.71

Valuation FY2025 figures against the last close

P/S1.5x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-0.59

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $149.2M$74.9M$71.3M$65.2M$55.3M$49.2M$62.7M$52.8M$40.4M$34.2M
Cost of revenue $76.8M$20.7M$19.6M$15.5M$11.7M$11.6M$15.4M$12.4M$9.6M$6.6M
Gross profit $72.3M$54.2M$51.7M$49.7M$43.7M$37.7M$47.3M$40.3M$30.8M$27.6M
R&D $6.6M$12.8M$9.5M$9.3M$7.9M$9.2M$13.7M$8.2M$7.9M$8.2M
SG&A $49.7M$30.3M$25.4M$25.5M$25.6M$18.2M$17.5M$13.7M$8.6M$6.9M
Total operating expenses $103.7M$88.7M$82.3M$84.8M$71.2M$60.0M$74.2M$60.2M$44.4M$36.9M
Operating income -$31.4M-$34.6M-$30.6M-$35.1M-$27.6M-$22.3M-$26.9M-$19.8M-$13.6M-$9.3M
Interest expense $8.4M$7.3M$5.4M$4.3M$4.0M$4.5M$3.7M$3.7M$2.8M$1.8M
Pre-tax income -$29.0M-$24.1M-$16.1M-$11.2M
Net income -$39.0M-$43.7M-$30.2M-$37.2M-$31.2M-$27.5M-$29.0M-$24.1M-$16.1M-$11.2M
EPS, basic -0.59-1.38-1.05-1.38-1.22-1.46-1.58
EPS, diluted -0.59-1.38-1.05-1.38-1.22-1.46-1.58-2.69-86.34-76.95
Shares, diluted (wtd. avg.) $66.0M$31.7M$28.7M$26.9M$25.5M$18.8M$18.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $28.1M$18.5M$59.7M$70.3M$94.1M$49.0M$75.7M$104.6M$29.1M$17.0M
Receivables $16.5M$23.4M$15.8M$13.6M$7.7M$7.2M$6.6M$5.6M$4.3M
Inventory $4.3M$4.2M$8.1M$8.9M$6.6M$3.7M$2.8M$2.4M$2.5M
Total current assets $61.6M$58.1M$93.8M$98.8M$115.3M$65.0M$88.5M$114.5M$37.0M
Property, plant and equipment $4.5M$6.2M$2.0M$2.0M$1.2M$730.0K$1.1M$1.4M$1.4M
Goodwill $23.6M$18.6M
Other intangibles $18.1M$19.6M
Total assets $141.6M$140.9M$115.8M$116.9M$141.2M$78.7M$100.2M$117.0M$38.9M
Accounts payable $10.7M$11.1M$4.8M$2.4M$4.3M$3.7M$4.6M$3.8M$2.5M
Short-term debt $13.1M$11.2M
Total current liabilities $30.5M$31.3M$19.8M$33.2M$15.7M$13.7M$27.7M$13.6M$12.0M
Long-term debt $65.8M$55.2M$59.3M$22.8M$35.3M$34.6M$19.9M$30.4M$29.6M
Total liabilities $115.3M$109.1M$81.6M$59.8M$56.0M$53.2M$52.3M$46.0M$44.5M
Retained earnings -$458.8M-$419.8M-$376.1M-$345.9M-$308.7M-$277.5M-$250.1M-$221.0M-$196.9M
Total equity $22.4M$27.7M$34.2M$57.1M$85.2M$25.5M$47.9M$71.0M-$192.7M-$177.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$20.4M-$31.0M-$32.0M-$30.7M-$28.0M-$28.4M-$30.5M-$20.6M-$11.1M-$8.5M
Depreciation and amortisation $3.5M$2.1M$2.0M$1.6M$1.1M$941.0K$1.1M$882.0K$596.0K$673.0K
Stock-based compensation $6.8M$5.6M$7.3M$8.7M$7.9M$4.4M$3.4M$1.7M$496.0K$161.0K
Capital expenditure $801.0K$1.5M$2.4M$3.3M$2.4M$730.0K$813.0K$1.0M$594.0K$324.0K
Investing cash flow -$801.0K-$2.4M-$1.3M$6.7M-$9.8M-$730.0K-$813.0K-$1.0M-$594.0K-$324.0K
Financing cash flow $35.9M-$6.8M$22.7M$207.0K$83.0M$2.4M$2.4M$97.0M$23.8M$4.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-013997.

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