Core Insights - Neuronetics reported strong growth in the fourth quarter of 2025, with total revenue reaching $41.8 million, an 86% increase year-over-year, primarily due to the inclusion of Greenbrook operations [12] - The company is focused on building a vertically integrated mental health company post-Greenbrook acquisition, combining technology and clinical infrastructure to enhance patient access to treatment [5][6] - Neuronetics is implementing various operational improvements and strategic initiatives to drive growth in its NeuroStar TMS systems and Greenbrook clinics [19][20] Financial Performance - Fourth-quarter total revenue was $41.8 million, up 86% year-over-year, with adjusted pro forma revenue increasing 23% [12] - NeuroStar revenue for the quarter was $18.3 million, representing 9% growth year-over-year, while U.S. system revenue was $4.4 million, up 15% [13] - Clinic revenue reached $23.5 million, reflecting 37% adjusted pro forma growth, driven by increased treatments across NeuroStar TMS and Spravato [14] Operational Developments - The rollout of Spravato is nearly complete, with 84 clinics providing the treatment, and total treatment volume across Spravato and TMS rose 18% year-over-year in Q4 [1] - Management is standardizing operations across the clinic network, including deploying tablet kiosks for streamlined check-in and piloting a patient portal for digital intake [6] - The BetterMe Provider program ended 2025 with over 420 active sites, connecting more than 66,000 patients with BMP providers [8] Leadership and Strategic Direction - Dan Reuvers has been appointed as the new president and CEO, effective March 23, 2026, succeeding Keith Sullivan [6][4] - The company is focused on expanding customer acquisition models for NeuroStar TMS systems and increasing demand for depression treatments at Greenbrook clinics [19] - Neuronetics is collaborating with Compass Pathways on COMP360 psilocybin for treatment-resistant depression, with plans for an NDA submission [20][21] Cash Flow and Future Outlook - Total cash at the end of 2025 was $34.1 million, with positive cash flow from operations of $0.9 million in Q4 [16] - For 2026, the company projects total revenue between $160 million and $166 million, with expected growth in the clinic business in the double digits [18] - Operating cash flow is expected to be negative $13 million to negative $17 million for the full year, with improvements anticipated in the second half [18]

Transforming Lives Through NeuroHealth COMPANY PRESENTATION NASDAQ: STIM March 2026 Forward Looking Statements This presentation contains estimates and other statistical data prepared by independent parties and by Neuronetics, Inc. ("Neuronetics" or the "Company") relating to market size and growth and other data about the industry in which the Company operates. These estimates and data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and data ...

Transforming Lives Through NeuroHealth COMPANY PRESENTATION NASDAQ: STIM March 2026 Forward Looking Statements This presentation contains estimates and other statistical data prepared by independent parties and by Neuronetics, Inc. ("Neuronetics" or the "Company") relating to market size and growth and other data about the industry in which the Company operates. These estimates and data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and data ...

Core Insights - Neuronetics reported a total revenue of $41.8 million in Q4 2025, marking an 86% increase compared to Q4 2024, and a projected full-year revenue for 2026 between $160 million and $166 million [1][6][25] Q4 2025 Highlights - Greenbrook clinic revenue reached $23.5 million in Q4 2025, up 428% as reported and 37% on an adjusted pro forma basis compared to Q4 2024 [1][6] - U.S. NeuroStar Advanced Therapy System revenue was $4.4 million, with 49 systems shipped [6][8] - Operating cash flow improved, with cash provided by operations of $0.9 million in Q4 2025 [1][19] Full Year 2025 Highlights - Total revenue for the full year 2025 was $149.2 million, a 99% increase compared to 2024, driven primarily by the acquisition of Greenbrook [6][13] - Greenbrook clinic revenue for the full year was $87.0 million, up 1,857% as reported and 28% on an adjusted pro forma basis compared to 2024 [6][16] - U.S. NeuroStar Advanced Therapy System revenue for the year was $14.3 million, a decrease of 7% compared to 2024 [14][15] Recent Operational Highlights - Dan Reuvers was appointed as President and CEO effective March 23, 2026, bringing over 30 years of experience in scaling commercial healthcare businesses [1][21] - The company is advancing its collaboration with Compass Pathways on COMP360 psilocybin for treatment-resistant depression, with promising Phase 3 study results [22][23] - TRICARE West expanded coverage for TMS therapy to include adolescents aged 15 and older, enhancing access to mental health treatment [24] Business Outlook - For Q1 2026, total worldwide revenue is expected to be between $33.0 million and $35.0 million [25] - Full-year 2026 projections include a gross margin of 47% to 49% and operating expenses of $100 million to $105 million [25][26]

Core Insights - Neuronetics, Inc. plans to release its fourth quarter 2025 financial and operating results on March 17, 2026, prior to market opening [1] - A conference call to discuss the results will take place at 8:30 a.m. Eastern Time on the same day [2] Company Overview - Neuronetics is a commercial stage medical technology and healthcare company focused on transforming patient lives through neurohealth therapies [1][3] - The company offers NeuroStar Advanced Therapy, a non-drug, noninvasive treatment for patients with major depressive disorder (MDD) and other mental health conditions [3][4] - Neuronetics operates Greenbrook treatment centers across the U.S., providing various treatment modalities including NeuroStar Therapy and SPRAVATO [3] Treatment Indications - NeuroStar Therapy is indicated for treating depressive episodes and reducing anxiety symptoms in adult patients with MDD who have not responded satisfactorily to previous antidepressant treatments [4] - The therapy is also FDA-cleared as an adjunct treatment for adults with obsessive-compulsive disorder and for adolescents aged 15 to 21 with MDD [4]

Core Viewpoint - Neuronetics, Inc. reported strong preliminary unaudited financial results for Q4 and full-year 2025, highlighting significant revenue growth and positive operating cash flow, indicating robust commercial execution and demand for its NeuroStar systems [2][3][10]. Financial Results Summary Fourth Quarter 2025 - Revenue for Q4 2025 was $41.8 million, representing a 23% increase on an adjusted pro-forma basis and an 86% increase compared to Q4 2024 on an as-reported basis [5][10]. - NeuroStar revenue for Q4 2025 was $18.3 million, up 9% on a pro-forma basis compared to the same period in 2024, with 49 NeuroStar Advanced Therapy systems shipped [5][10]. - Clinic revenue for Q4 2025 was $23.5 million, reflecting a 37% increase on an adjusted pro-forma basis compared to Q4 2024 [6][10]. - The company achieved positive operating cash flow of $0.9 million during Q4 2025 [6][10]. Full Year 2025 - Full-year revenue for 2025 was $149.2 million, a 15% increase on an adjusted pro-forma basis and a 99% increase compared to full-year 2024 on an as-reported basis [7][10]. - NeuroStar revenue for the full year 2025 was $62.2 million, up 0.9% on a pro-forma basis compared to 2024 [7][10]. - Clinic revenue for the full year 2025 was $87.0 million, a 28% increase on an adjusted pro-forma basis compared to 2024 [8][10]. - The company ended 2025 with total cash of $34.1 million, including cash, cash equivalents, and restricted cash [8][10].

Core Insights - Neuronetics, Inc. is a commercial stage medical technology company focused on transforming patient lives through neurohealth therapies [1][2] - The management team will participate in a fireside chat at the Piper Sandler 37th Annual Healthcare Conference on December 4, 2025 [1] Company Overview - Neuronetics is a global leader in neuroscience, providing innovative treatment options for mental health conditions [2] - The company offers the NeuroStar Advanced Therapy, a non-drug, noninvasive treatment for patients with major depressive disorder (MDD) when traditional medications are ineffective [2] - NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults, with over 7.4 million treatments delivered and supported by the largest clinical data set for TMS treatments [2] - Neuronetics operates Greenbrook TMS Inc., which runs treatment centers across the U.S. and has provided over 1.8 million treatments to more than 55,000 patients [2] Treatment Details - The NeuroStar Advanced Therapy System is FDA-cleared for adults with MDD and as an adjunct treatment for obsessive-compulsive disorder and anxiety symptoms in adults with MDD [3] - It is also approved as a first-line adjunct treatment for adolescents aged 15-21 with MDD [3]

Company Overview - The company combines mental health services and device expertise to treat more patients[17] - The company has treated 229,429 unique patients and administered 8,213,816 treatments[18, 19] - The company reported $129 million in annual revenue for 2024[19] Market and Clinical Data - The total available market consists of 293 million individuals affected by depression and OCD[34] - Approximately 8 million patients are poorly served by antidepressant medication[35] - 83% of patients experienced improvement in depression symptoms, and 62% achieved symptom relief (remission)[47] Financial Performance and Guidance - Q3 2025 revenue reached $373 million, a 101% increase compared to Q3 2024[92] - The company projects FY 2025 revenue between $147 million and $150 million, representing a 14% to 16% adjusted pro forma year-over-year growth[87] - The company is targeting positive cash flow from operations in Q4 2025[87] Growth Initiatives - The company is expanding the Better Me Provider (BMP) network, with over 420 BMP clinics in 49 states[23] - The company is expanding SPRAVATO® treatment to 89 treatment centers by the end of Fiscal Year 2025[76] - NeuroStar University (NSU) attendees have started 38% more patients, and performed 26% more treatment sessions YTD than non-attendees[65, 69]

Core Insights - Neuronetics, Inc. reported total revenue of $37.3 million for Q3 2025, reflecting an 11% adjusted pro forma growth compared to Q3 2024, and a 101% increase on an unadjusted basis [1][7] - The company generated $21.8 million in revenue from Greenbrook clinics in Q3 2025, marking a 25% increase on an adjusted pro forma basis compared to Q3 2024 [1][11] - Neuronetics' President and CEO, Keith J. Sullivan, announced his intention to retire effective June 30, 2026, with a search for his successor already underway [1][4] Financial Performance - Total revenues for Q3 2025 were $37.3 million, a 101% increase from $18.5 million in Q3 2024, driven primarily by the acquisition of Greenbrook TMS [7][8] - U.S. revenue increased by 102% to $36.2 million, while international revenue rose by 73% to $1.0 million compared to Q3 2024 [8] - The gross margin for Q3 2025 was 45.9%, down from 75.6% in Q3 2024, mainly due to the inclusion of Greenbrook's clinic business [11] Operational Highlights - The company shipped 40 NeuroStar Advanced Therapy Systems, generating $3.5 million in revenue, a 15% decrease from $4.1 million in Q3 2024 [9][10] - U.S. treatment session revenue was $10.5 million, down 21% from $13.3 million in Q3 2024, primarily due to the absence of $2.2 million in revenue from Greenbrook [10][11] - Neuronetics achieved a milestone of over 229,429 global patients treated with 8.2 million treatment sessions [7] Cash Management and Funding - As of September 30, 2025, the company held $34.5 million in total cash, an increase from $19.5 million at the end of 2024, with cash used in operations amounting to $0.8 million [14][15] - Neuronetics secured an additional $10 million in funding under its debt agreement with Perceptive Credit Holdings IV, LP, and extended its minimum liquidity requirement to September 2026 [15][16] Business Outlook - For Q4 2025, the company expects total worldwide revenue between $40 million and $43 million, and for the full year 2025, revenue is projected to be between $147 million and $150 million [18][19] - The company anticipates gross margin for the full year 2025 to be between 47% and 49%, with total operating expenses expected to be between $100 million and $105 million [19][20] - Neuronetics aims for positive cash flow from operations in Q4 2025, projecting a range of $2 million positive to $2 million negative [20]

Core Viewpoint - Neuronetics, Inc. has entered into a three-year exclusive agreement with Elite DNA Behavioral Health to provide transcranial magnetic stimulation (TMS) devices and patient support services across Elite DNA's 30+ locations, aiming to enhance patient access to advanced mental health treatments [1][2][3] Company Overview - Neuronetics, Inc. focuses on developing products that improve the quality of life for patients with neurohealth disorders and is a leader in neuroscience, particularly in TMS therapy [5][6] - Elite DNA Behavioral Health, founded in 2013, is one of Florida's largest mental health networks, providing accessible mental health care through over 30 locations [4] Partnership Details - The collaboration will utilize Neuronetics' Greenbrook platform to enhance operational and patient-support services for Elite DNA, allowing their team to concentrate on patient experience [2][3] - The partnership aims to operationalize strategic values from Neuronetics' Greenbrook acquisition and serves as a model for future collaborations with other organizations [2] Treatment and Services - NeuroStar Advanced Therapy, a non-invasive TMS treatment, has delivered over 7.6 million treatments and is backed by extensive clinical data, making it the leading TMS treatment for major depressive disorder (MDD) in adults [5][6] - Greenbrook treatment centers also provide SPRAVATO (esketamine) Nasal Spray for treatment-resistant depression, having administered over 1.8 million treatments to more than 55,000 patients [6]