STIM

MKT CAP:$115M

Neuronetics, Inc.

Market Cap

$115M

Healthcare·Medical - Diagnostics & Research·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$1.51+$0.07 (+5.21%)

Apr 21, 2026

Company Details

Neuronetics, Inc., a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System...

CEO

Steven E. Pfanstiel

IPO Date

Jun 28, 2018

Website

www.neurostar.com

Key Metrics TTM

Revenue

$111M

+54.2% YoY

Net Income

-$49M

EPS (Diluted)

-$1.13

Free Cash Flow

-$35M

Revenue / Share

$1.68

Gross Margin

56.2%

Operating Margin

-34.4%

Net Margin

-43.9%

FCF Margin

-31.9%

P/S

1.0x

P/E

—

Earnings Reports

Q3 2025

May 5, 2026

PENDING

FY 2025

Mar 17, 2026

$149M+99.2%EPS -$0.59

Q2 2025

Aug 5, 2025

$38M+131.7%EPS -$0.15

Q1 2025

May 6, 2025

$32M+83.6%EPS -$0.21

FY 2024

Mar 27, 2025

$75M+5.0%EPS -$1.38

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$14M	$11M	-$7M
Q4 21	$15M	$11M	-$7M
Q1 22	$14M	$11M	-$10M
Q2 22	$16M	$12M	-$10M
Q3 22	$16M	$13M	-$7M
Q4 22	$18M	$14M	-$8M
Q1 23	$16M	$11M	-$10M
Q2 23	$18M	$13M	-$7M
Q3 23	$18M	$12M	-$9M
Q4 23	$20M	$16M	-$4M
Q1 24	$17M	$13M	-$7M
Q2 24	$16M	$12M	-$9M
Q3 24	$19M	$14M	-$8M
Q4 24	$22M	$15M	-$11M
Q1 25	$32M	$16M	-$11M
Q2 25	$38M	$18M	-$8M

Valuation

Quarter	P/S	P/E
Q3 21	3.1x	—
Q4 21	2.2x	—
Q1 22	1.4x	—
Q2 22	1.6x	—
Q3 22	1.4x	—
Q4 22	2.8x	—
Q1 23	1.1x	—
Q2 23	0.9x	—
Q3 23	0.5x	—
Q4 23	1.2x	—
Q1 24	1.9x	—
Q2 24	0.7x	—
Q3 24	0.3x	—
Q4 24	0.6x	—
Q1 25	1.5x	—
Q2 25	1.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$9M	-$9M
Q4 21	-$5M	-$5M
Q1 22	-$12M	-$13M
Q2 22	-$9M	-$10M
Q3 22	-$7M	-$7M
Q4 22	-$3M	-$4M
Q1 23	-$9M	-$9M
Q2 23	-$9M	-$10M
Q3 23	-$10M	-$11M
Q4 23	$2M	$1M
Q1 24	-$12M	-$12M
Q2 24	-$5M	-$6M
Q3 24	-$5M	-$6M
Q4 24	-$9M	-$9M
Q1 25	-$17M	-$17M
Q2 25	-$4M	-$4M

Capital Expenditures

Quarter	CapEx
Q3 21	$444.0K
Q4 21	$801.0K
Q1 22	$1M
Q2 22	$966.0K
Q3 22	$726.0K
Q4 22	$503.0K
Q1 23	$234.0K
Q2 23	$704.0K
Q3 23	$552.0K
Q4 23	$879.0K
Q1 24	$375.0K
Q2 24	$616.0K
Q3 24	$386.0K
Q4 24	$89.0K
Q1 25	$219.0K
Q2 25	$252.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+10.9%	+41.1%
Q4 21	-3.6%	+20.2%
Q1 22	+15.4%	+26.7%
Q2 22	+15.0%	+25.8%
Q3 22	+19.6%	+14.2%
Q4 22	+21.1%	+18.2%
Q1 23	+9.6%	+4.7%
Q2 23	+7.8%	-4.5%
Q3 23	+8.4%	+11.7%
Q4 23	+11.6%	-4.6%
Q1 24	+12.1%	-4.6%
Q2 24	-6.6%	-0.0%
Q3 24	+3.6%	-1.9%
Q4 24	+10.7%	+37.3%
Q1 25	+83.6%	+77.1%
Q2 25	+131.7%	+85.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$2M	14.2%
Q4 21	$2M	11.3%
Q1 22	$2M	15.9%
Q2 22	$2M	13.5%
Q3 22	$2M	13.2%
Q4 22	$2M	11.6%
Q1 23	$2M	11.6%
Q2 23	$2M	11.5%
Q3 23	$2M	10.4%
Q4 23	$2M	8.0%
Q1 24	$1M	7.7%
Q2 24	$2M	9.5%
Q3 24	$1M	7.7%
Q4 24	$1M	5.7%
Q1 25	$1M	4.5%
Q2 25	$2M	4.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 21	$2M	$6M	$10M
Q4 21	$2M	$6M	$10M
Q1 22	$2M	$6M	$13M
Q2 22	$2M	$6M	$14M
Q3 22	$2M	$6M	$12M
Q4 22	$3M	$6M	$12M
Q1 23	$3M	$7M	$12M
Q2 23	$2M	$6M	$12M
Q3 23	$2M	$6M	$12M
Q4 23	$2M	$6M	$12M
Q1 24	$2M	$6M	$12M
Q2 24	$2M	$6M	$12M
Q3 24	$2M	$7M	$12M
Q4 24	$6M	$11M	$10M
Q1 25	$2M	$13M	$12M
Q2 25	$2M	$12M	$12M

Revenue Segments

Quarter	Medical Device Segment
Q1 25	$32M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$81M	$2M	$83M
Q2 22	$71M	$2M	$73M
Q3 22	$74M	$2M	$76M
Q4 22	$70M	$2M	$72M
Q1 23	$55M	$1M	$57M
Q2 23	$46M	$1M	$47M
Q3 23	$36M	$968.0K	$37M
Q4 23	$60M	$905.0K	$61M
Q1 24	$48M	$816.0K	$49M
Q2 24	$43M	$685.0K	$43M
Q3 24	$21M	$572.0K	$21M
Q4 24	$19M	$206.0K	$20M
Q1 25	$21M	$202.0K	$21M
Q2 25	$17M	$176.0K	$18M
Q3 25	$34M	$175.0K	$35M
Q4 25	$34M	$225.0K	$34M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	26M	+1.5%	+39.2%
Q4 21	26M	+0.3%	+38.7%
Q1 22	27M	+0.9%	+5.8%
Q2 22	27M	+0.7%	+3.4%
Q3 22	27M	+0.7%	+2.5%
Q4 22	27M	+0.9%	+3.2%
Q1 23	28M	+3.0%	+5.4%
Q2 23	29M	+2.0%	+6.7%
Q3 23	29M	+1.0%	+7.1%
Q4 23	29M	+0.6%	+6.8%
Q1 24	29M	+1.5%	+5.1%
Q2 24	30M	+2.0%	+5.1%
Q3 24	30M	+0.7%	+4.8%
Q4 24	37M	+21.2%	+26.3%
Q1 25	61M	+67.6%	+108.6%
Q2 25	66M	+7.7%	+120.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$109.5K	126
Q4 21	$85.8K	175
Q1 22	$81.0K	175
Q2 22	$93.3K	175
Q3 22	$94.3K	175
Q4 22	$93.3K	195
Q1 23	$79.7K	195
Q2 23	$90.3K	195
Q3 23	$91.7K	195
Q4 23	$100.1K	203
Q1 24	$85.8K	203
Q2 24	$81.0K	203
Q3 24	$91.3K	203
Q4 24	$31.4K	716
Q1 25	$44.7K	716
Q2 25	$53.2K	716

Revenue / Employee