Earnings Releases·Nov 4, 2026, 7:55 AM ET

Neuronetics — Third Quarter 2026 Earnings Summary

Total revenue rose 12.5% year-over-year to $42.0 million, driven by a 20.1% increase in Greenbrook to $26.2 million and a 1.8% rise in NeuroStar to $15.8 million, while gross margin improved to 52.2% from 45.9% and operating expenses fell 13% to $21.3 million.
The company achieved a significant turnaround in profitability, reporting an operating income of $0.5 million and adjusted EBITDA of $1.9 million, compared to a $7.3 million operating loss and $4.7 million adjusted EBITDA loss in the prior year period.
Full-year 2026 guidance was revised upward for gross margin (49%–50% vs. prior 48%–50%) and operating expenses (total $92.5M–$95.5M vs. prior $95M–$100M), while maintaining revenue guidance of $160M–$164M and improving cash flow outlook to a loss of $(10.0)M–$(12.0)M.
Strategic initiatives include a record NeuroStar quarter, a new distribution agreement with Wave Neuro for PTSD treatment, an FDA 510(k) submission for an accelerated TMS protocol, and an AdvancedMD EHR integration launching in Q4 2026.
Capital management activities included a $5.0 million debt repayment, $8.6 million raised via the ATM program, and a cash balance decline to $27.9 million as of September 30, 2026, down from $34.1 million at year-end 2025.