Neuronetics Announces Selected Preliminary Unaudited Fourth Quarter and Full Year 2025 Financial Results
MWN-AI** Summary
Neuronetics, Inc. (NASDAQ: STIM), a leading medical technology company focused on transforming mental health treatment, has announced selected preliminary unaudited financial results for the fourth quarter and full year 2025. For Q4 2025, the company reported a revenue of $41.8 million, showcasing an impressive 86% year-over-year growth when considered on an as-reported basis. When adjusted for pro forma metrics, the growth rate stands at 23%. The full year 2025 revenue reached $149.2 million, marking a substantial 99% increase year-over-year on an as-reported basis, and a 15% increase when adjusted pro forma.
During the fourth quarter, Neuronetics shipped 49 NeuroStar Advanced Therapy systems, contributing to a NeuroStar revenue of $18.3 million, a 9% increase on a pro forma basis. The clinic business also saw growth, with revenues hitting $23.5 million, a 37% rise compared to the same period in 2024 on a pro forma basis. Notably, Neuronetics achieved a positive operating cash flow of $0.9 million in Q4 2025, and ended the year with total cash of $34.1 million.
CEO Keith Sullivan highlighted the company’s strong operational execution and the increasing demand for NeuroStar systems. He expressed pride in the impact that Neuronetics’ therapies have on patients and emphasized the firm’s ongoing commitment to optimizing operations alongside revenue growth. The anticipated earnings call is scheduled for March 17, 2026, where more detailed financial and operational results will be discussed.
Neuronetics continues to position itself at the forefront of neurohealth treatment, emphasizing equitable access to care and innovative therapies.
MWN-AI** Analysis
Neuronetics, Inc. (NASDAQ: STIM) has recently released its selected preliminary unaudited financial results for the fourth quarter and full year of 2025, demonstrating substantial growth indicative of an expanding market presence. The fourth quarter revealed impressive revenue of $41.8 million, marking an 86% year-over-year increase, while the full year saw revenue climb to $149.2 million, a remarkable 99% increase from 2024, although adjusted pro forma growth rates were less striking at 23% and 15% respectively.
A key takeaway from the report is the company’s positive operating cash flow of $0.9 million in Q4, a positive signal as Neuronetics continues to streamline operations and maximize revenue across both its NeuroStar systems and its clinic business. Ending the year with $34.1 million in total cash confirms a robust balance sheet, positioning the company well for strategic initiatives in 2026.
However, while growth is evident in revenue figures, it's important to note that NeuroStar revenue was up only 0.9% on a pro forma basis for the full year. This might suggest potential market saturation or challenges in scaling the NeuroStar Advanced Therapy System as expected, prompting investors to closely monitor the effectiveness of the sales strategy moving forward.
Moreover, with the announcement of the upcoming earnings call on March 17, 2026, investors should be prepared for more detailed insights into future projections and further clarifications on performance drivers. Analysts should also consider the strategic implications of the Greenbrook acquisition, with potential synergies yet to be quantified.
For investors, while the explosive growths showcased in preliminary results are promising, it is wise to remain cautious and watchful of market dynamics affecting Neuronetics, particularly in execution efficiency and product demand trends in the mental health sector.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
All values provided represent preliminary unaudited results
- Fourth quarter 2025 revenue of $41.8 million, representing 86% year-over-year growth on an as reported basis and 23% year-over-year growth on an adjusted pro forma basis
- Full year 2025 revenue of $149.2 million, representing 99% year-over-year growth on an as reported basis and 15% year-over-year growth on an adjusted pro forma basis
- Achieved positive operating cash flow of $0.9 million in the fourth quarter 2025
- Ended 2025 with total cash of $34.1 million, inclusive of cash, cash equivalents and restricted cash
MALVERN, Pa., Feb. 10, 2026 (GLOBE NEWSWIRE) -- Neuronetics, Inc., (NASDAQ: STIM) (the “Company” or “Neuronetics”) a vertically integrated, commercial stage, medical technology and healthcare company with a strategic vision of transforming the lives of patients whenever and wherever they need help, with the leading neurohealth therapies in the world, today announced selected preliminary unaudited financial results for the fourth quarter and full-year 2025.
“We wrapped up 2025 with strong commercial execution during the fourth quarter across both segments of the business. We continue to see solid demand for NeuroStar systems and are proud to see our NeuroStar customers helping more patients in need. Our clinic business had another exciting quarter as we continue to optimize our operations while also driving significant revenue growth,” said Keith Sullivan, President and Chief Executive Officer of Neuronetics. “Importantly, we translated this strong revenue performance into positive operating cash flow during the quarter and maintained the strength of our balance sheet as we move into 2026.”
Selected Preliminary, Unaudited Fourth Quarter 2025 Financial Results
This press release assumes the acquisition between Greenbrook and Neuronetics occurred on January 1, 2024 and includes the following adjustments: The addition of assumed sales to Greenbrook through December 31, 2024 following the acquisition, the elimination of all Greenbrook sales and assumed sales for the year ended December 31, 2024 and the closure of all non-performing Greenbrook clinics on January 1, 2024.
Based on preliminary unaudited information that the Company expects to report:
Fourth quarter 2025 revenue was $41.8 million, a 23% increase as compared to the fourth quarter on an adjusted pro-forma basis and an 86% increase as compared to fourth quarter 2024 on an as reported basis.
Fourth quarter 2025 NeuroStar revenue was $18.3 million, up 9% on a pro-forma basis as compared to the same period in 2024. In the quarter, 49 NeuroStar Advanced Therapy systems were shipped.
Fourth quarter 2025 clinic revenue was $23.5 million, up 37% on an adjusted pro-forma basis as compared to the same period in 2024.
During the fourth quarter, the Company drove positive operating cash flow of $0.9 million, in line with previously issued guidance.
Selected Preliminary, Unaudited Full Year 2025 Financial Results
Based on preliminary unaudited information that the Company expects to report:
Full year 2025 revenue was $149.2 million, a 15% increase as compared to the full year on an adjusted pro-forma basis and a 99% increase as compared to full year 2024 on an as reported basis.
Full year 2025 NeuroStar revenue was $62.2 million, up 0.9% on a pro-forma basis as compared to 2024.
Full year 2025 clinic revenue was $87.0 million, up 28% on an adjusted pro-forma basis as compared to 2024.
The Company ended 2025 with $34.1 million of total cash, inclusive of cash, cash equivalents and restricted cash.
Fourth Quarter Earnings Call and Webcast Details
The Company plans to release fourth quarter 2025 financial and operating results prior to market open on Tuesday, March 17, 2026. The Company will host a conference call to review its results at 8:30 a.m. Eastern Time the same day.
About Neuronetics
Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is delivering more treatment options to patients and physicians by offering exceptional in-office treatments that produce extraordinary results. NeuroStar Advanced Therapy (“NeuroStar Therapy”) is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication has not helped. In addition to selling the NeuroStar Advanced Therapy System (the “NeuroStar System”) and associated treatment sessions to customers, Neuronetics operates Greenbrook treatment centers across the United States, offering NeuroStar Therapy, SPRAVATO, and other treatment modalities for the treatment of MDD and other mental health disorders.
NeuroStar Therapy is indicated for the treatment of depressive episodes and for decreasing anxiety symptoms for those who may exhibit comorbid anxiety symptoms in adult patients suffering from MDD and who failed to achieve satisfactory improvement from previous antidepressant medication treatment in the current episode. It is also cleared by the U.S. Food and Drug Administration as an adjunct for adults with obsessive-compulsive disorder and for adolescent patients aged 15 to 21 with MDD. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results.
“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995:
Certain statements in this press release, including the documents incorporated by reference herein, include “forward-looking statements” within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws. Statements in this press release that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “may,” “will,” “would,” “should,” “expect,” “plan,” “design,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “outlook” or “continue” as well as the negative of these terms and similar expressions. These statements include those relating to the Company’s business outlook and current expectations for upcoming quarters and fiscal year 2026, including with respect to revenue, expenses, growth, and any statements of assumptions underlying any of the foregoing items. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to: the effect of the transaction with Greenbrook TMS Inc. on our business relationships; operating results and business generally; our ability to execute our business strategy; our ability to achieve or sustain profitable operations due to our history of losses; our reliance on the sale and usage of our NeuroStar Advanced Therapy System to generate revenues; the scale and efficacy of our salesforce; our ability to retain talent; availability of coverage and reimbursement from third-party payors for treatments using our products; physician and patient demand for treatments using our products; developments in respect of competing technologies and therapies for the indications that our products treat; product defects; developments in clinical trials or regulatory review of the NeuroStar Advanced Therapy System for additional indications; developments in regulation in the U.S. and other applicable jurisdictions; potential effects of evolving and/or extensive government regulation; the terms of our credit facility; our ability to successfully roll-out our Better Me Provider Program on the planned timeline; our self-sustainability and existing cash balances; and our ability to maintain positive cash flow. For a discussion of these and other related risks, please refer to the Company’s recent filings with the SEC, which are available on the SEC’s website at www.sec.gov, including, without limitation, the factors described under the heading “Risk Factors” in Neuronetics’ Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as may be updated or supplemented by subsequent Annual Reports that Neuronetics has filed or files with the SEC. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this press release. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, or changes in the Company’s expectations.
Investor Contact:
Mike Vallie or Mark Klausner
ICR Healthcare
443-213-0499
ir@neuronetics.com
Media Contact:
EvolveMKD
646-517-4220
Non-GAAP Pro Forma and Adjusted Pro Forma Revenue Information (Unaudited)
The following table presents the Company’s pro forma operating results, giving effect to the acquisition of Greenbrook as if the transaction had occurred on January 1, 2024. These pro forma results are based on assumptions that management believes are reasonable under the circumstances. However, they are not necessarily indicative of the Company’s future performance. The pro forma financial information reflects the historical operating results of both the Company and Greenbrook, with all intercompany transactions eliminated. The adjusted pro forma results further reflect eliminations related to the closure of certain clinics in 2024. The pro forma data does not include the impact of any potential synergies or cost-saving initiatives resulting from the acquisition:
| Three Months ended | ||||
| December 31, 2024 | ||||
| (in thousands) | ||||
| Neuronetics | $ | 18,048 | ||
| Greenbrook | 18,004 | |||
| Intercompany revenue | (1,272 | ) | ||
| Total Pro forma | 34,780 | |||
| Adjusted for clinic closures | (839 | ) | ||
| Adjusted Pro forma Revenue | $ | 33,941 |
| Twelve Months ended | ||||
| December 31, 2024 | ||||
| (in thousands) | ||||
| Neuronetics | $ | 70,445 | ||
| Greenbrook | 75,496 | |||
| Intercompany revenue | (8,831 | ) | ||
| Total Pro forma | 137,110 | |||
| Adjusted for clinic closures | (7,673 | ) | ||
| Adjusted Pro forma Revenue | $ | 129,437 |
FAQ**
What specific strategies is Neuronetics Inc. (NASDAQ: STIM) implementing to sustain the impressive 99% year-over-year revenue growth achieved in 2025, and how do they plan to maintain this momentum moving into 2026?
Can Neuronetics Inc. (NASDAQ: STIM) provide more details on the impact of the Greenbrook acquisition on their operational efficiency and revenue generation, particularly in light of the adjustments made to ensure accurate pro forma results?
How does Neuronetics Inc. (NASDAQ: STIM) foresee the cash position of $34.1 million influencing its ability to invest in new technologies and expand its market presence in both neurohealth therapies and associated treatment centers?
Given the positive operating cash flow reported in Q4 2025, what are Neuronetics Inc. (NASDAQ: STIM) plans for reinvesting this cash flow back into the business to drive growth, especially in the NeuroStar Advanced Therapy system sales?
**MWN-AI FAQ is based on asking OpenAI questions about Neuronetics Inc. (NASDAQ: STIM).
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