Neuronetics Announces Selected Preliminary Unaudited Fourth Quarter and Full Year 2025 Financial Results
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.
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