The EPS beat and cash burn improvement are positive, but maintained full-year guidance and declining cash reserves ($19M vs $34M) cap the upside. Watch for Q2 revenue growth trajectory (mid-single-digit guided) and whether the Optum policy expansion drives a material uptick in treatment session volume later in 2026.
Price Chart
Executive Summary
Neuronetics reported Q1 2026 revenue of $34.5M (+8% YoY) and a narrower net loss of $(0.16) per share, beating the consensus EPS estimate of $(0.17) by 42.3%. The beat was driven by 15% growth in U.S. clinic revenue and lower operating expenses, but the company's cash burn remains significant and full-year guidance was maintained, not raised.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $34.5M, up 8% YoY from $32.0M
- GAAP EPS of $(0.16) vs consensus $(0.17) — a 42.3% beat on the Street-quoted metric
- U.S. clinic revenue grew 15% YoY to $21.5M, driven by Greenbrook acquisition and SPRAVATO expansion
- Gross margin declined to 46.9% from 49.2% YoY due to mix
- Operating expenses fell 6% YoY to $25.1M
- Net loss narrowed to $(10.8)M from $(12.7)M YoY
- Cash burn from operations was $9.4M, improved from $17.0M in Q1 2025
- Cash and restricted cash totaled $19.0M at quarter end, down from $34.1M at Dec 2025
- Full-year 2026 guidance maintained: revenue $160M-$166M, gross margin 47%-49%, operating cash burn $(13)M-$(17)M
- Optum/UHC expanded TMS policy to allow nurse practitioners to administer NeuroStar, broadening access to ~34.8M covered lives
- Made a $5.0M debt prepayment in March, reducing ongoing interest expense
Financial Impact
EPS beat of $0.01 vs consensus on a net loss basis; revenue beat of ~$0.3M vs $34.2M consensus; cash burn improvement of $7.6M YoY
Risk Factors
- Cash position of $19M is thin relative to guided operating cash burn of $(13)M-$(17)M for the full year
- Treatment session revenue declined 5% YoY, signaling potential utilization headwinds
- Gross margin compression from mix shift toward lower-margin clinic services
- Debt of $61.3M remains on the balance sheet despite the $5M prepayment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3287566 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 10w ago | 8-K | $3.19 $3.21 | ▲ +0.63% | ▲ +0.38% | $2.24 (−29.78%) |
Aug 11, 2026 10w 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 24w ago | 8-K | $2.17 $1.91 | ▼ −11.98% | ▼ −13.37% | $2.24 (+3.23%) |
May 5, 2026 24w 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
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers