The stock may react positively to top-line growth and improved cash flow, but traders should monitor margin trends and execution on cost reduction. The negative operating cash flow outlook for 2026 and declining NeuroStar system sales (down 7% YoY) are risks. The new CEO appointment could signal a shift toward profitability.
Price Chart
Executive Summary
Neuronetics reported strong Q4 and full-year 2025 revenue growth, driven by the acquisition of Greenbrook, with total revenue up 86% YoY in Q4 and 99% for the full year. Despite revenue growth, gross margins declined due to the lower-margin clinic business, and the company still reported a net loss, though improved from prior year. Management issued 2026 revenue guidance of $160M–$166M and appointed a new CEO, signaling a focus on integration and operational efficiency.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $41.8 million, up 86% YoY (88% in U.S.)
- Full-year 2025 revenue: $149.2 million, up 99% YoY
- Gross margin declined to 52.0% in Q4 (from 66.2% YoY) and 48.5% for full year (from 72.3%)
- Net loss narrowed to $(7.2) million in Q4 and $(39.1) million for full year
- Cash provided by operations: $0.9 million in Q4, first positive quarter in 2025
- 2026 revenue guidance: $160M–$166M; operating cash flow expected to be negative ($13M–$17M)
- Dan Reuvers appointed CEO effective March 23, 2026
Financial Impact
Revenue nearly doubled in 2025 due to Greenbrook acquisition, but gross margins compressed by ~24 percentage points. 2026 guidance implies 7-11% revenue growth, but operating cash flow remains negative.
Risk Factors
- Declining gross margins due to lower-margin clinic revenue mix
- Negative operating cash flow expected in 2026 despite revenue growth
- NeuroStar system sales and treatment session revenue declined YoY on a standalone basis
- High operating expenses despite efficiency initiatives
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3257056 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 11w ago | 8-K | $3.19 $3.21 | ▲ +0.63% | ▲ +0.38% | $2.24 (−29.78%) |
Aug 11, 2026 11w ago | Press Release | $3.19 $3.21 | ▲ +0.63% | ▲ +0.38% | $2.24 (−29.78%) |
Jun 23, 2026 17w ago | 8-K | $1.26 $1.27 | ▲ +0.79% | ▲ +0.65% | $2.24 (+77.78%) |
May 22, 2026 22w ago | 8-K | $1.20 $1.22 | ▲ +1.67% | ▲ +1.08% | $2.24 (+86.67%) |
May 5, 2026 25w ago | 8-K | $2.17 $1.91 | ▼ −11.98% | ▼ −13.37% | $2.24 (+3.23%) |
May 5, 2026 25w ago | Press Release | $2.17 $1.91 | ▼ −11.98% | ▼ −13.37% | $2.24 (+3.23%) |
Apr 21, 2026 26w ago | Press Release | $1.50 $1.59 | ▲ +6.00% | ▲ +4.98% | $2.24 (+49.33%) |
Apr 13, 2026 28w ago | EFFECT | $1.39 $1.43 | ▼ −2.88% | ▼ −1.67% | $2.24 (−61.15%) |
Mar 19, 2026 31w ago | Insider Cluster | $1.52 $1.45 | ▼ −4.29% | ▼ −2.55% | $2.24 (+47.85%) |
Mar 19, 2026 31w ago | Insider Cluster | $1.52 $1.45 | ▼ −4.29% | ▼ −2.55% | $2.24 (+47.85%) |
US Market Status
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