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Neuronetics, Inc. engages in providing in office treatments for patients with neurohealth disorders in the United States and internationally. The company provides NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder. Its NeuroStar Advanced Therapy System uses transcranial magnetic stimulation to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The company sells its products through its sales and customer support team to psychiatrists. The company was incorporated in 2001 and is headquartered in Malvern, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $149M | $-28M | $-39M | $-21M | -174.3% | 99.2% | -10.8% |
| 2024 | $75M | $-35M | $-44M | $-32M | -157.8% | 5.0% | 44.8% |
| 2023 | $71M | $-23M | $-30M | $-34M | -88.3% | 9.4% | -18.8% |
| 2022 | $65M | $-32M | $-37M | $-34M | -65.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 65.21 | 71.35 | 74.89 | 149.16 |
| Operating Revenue | - | 65.21 | 71.35 | 74.89 | 149.16 |
| Cost Of Revenue | - | 15.48 | 19.64 | 20.73 | 76.85 |
| Gross Profit | - | 49.72 | 51.70 | 54.16 | 72.31 |
| Operating Expense | - | 84.83 | 82.26 | 88.72 | 103.74 |
| Research And Development | - | 9.34 | 9.52 | 12.77 | 6.58 |
| Selling General And Administration | - | 75.50 | 72.74 | 75.95 | 97.16 |
| Total Expenses | - | 100.32 | 101.90 | 109.45 | 180.59 |
| Operating Income | - | -35.11 | -30.55 | -34.56 | -31.44 |
| Total Operating Income As Reported | - | -35.11 | -30.55 | -34.56 | -31.44 |
| EBITDA | - | -31.96 | -23.36 | -35.17 | -28.06 |
| Normalized EBITDA | - | -31.96 | -23.36 | -30.74 | -28.06 |
| EBIT | - | -33.61 | -25.36 | -37.24 | -31.52 |
| Interest Expense | - | 3.60 | 4.80 | 6.50 | 7.60 |
| Net Interest Income | - | -4.30 | -5.40 | -7.30 | -8.40 |
| Other Non Operating Income Expenses | - | 2.20 | 5.79 | 2.55 | 0.72 |
| Other Income Expense | - | 2.20 | 5.79 | -1.88 | 0.72 |
| Interest Expense Non Operating | - | 3.60 | 4.80 | 6.50 | 7.60 |
| Net Non Operating Interest Income Expense | - | -4.30 | -5.40 | -7.30 | -8.40 |
| Pretax Income | - | -37.21 | -30.16 | -43.74 | -39.12 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -37.21 | -30.16 | -43.74 | -39.12 |
| Net Income From Continuing And Discontinued Operation | - | -37.16 | -30.19 | -43.71 | -39 |
| Net Income From Continuing Operation Net Minority Interest | - | -37.16 | -30.19 | -43.71 | -39 |
| Net Income | - | -37.16 | -30.19 | -43.71 | -39 |
| Net Income Common Stockholders | - | -37.16 | -30.19 | -43.71 | -39 |
| Net Income Including Noncontrolling Interests | - | -37.21 | -30.16 | -43.74 | -39.12 |
| Normalized Income | - | -37.16 | -30.19 | -39.28 | -39 |
| Diluted NI Availto Com Stockholders | - | -37.16 | -30.19 | -43.71 | -39 |
| Basic Average Shares | 25.48 | 26.90 | 28.66 | 31.63 | - |
| Diluted Average Shares | 25.48 | 26.90 | 28.66 | 31.63 | - |
| Reconciled Depreciation | - | 1.65 | 2.01 | 2.07 | 3.46 |
| Reconciled Cost Of Revenue | - | 15.48 | 19.64 | 20.73 | 76.85 |
| Total Unusual Items | - | 0 | 0 | -4.43 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -4.43 | 0 |
| Minority Interests | - | 0 | 0 | 0.02 | 0.14 |
| Special Income Charges | - | 0 | 0 | -4.43 | 0 |
| Other Special Charges | - | - | - | 4.43 | - |
| General And Administrative Expense | - | 25.52 | 25.43 | 30.32 | 49.70 |
| Other Gand A | - | 25.52 | 25.43 | 30.32 | 49.70 |
| Total Other Finance Cost | - | 0.70 | 0.60 | 0.80 | 0.80 |
| Selling And Marketing Expense | - | 49.98 | 47.32 | 45.63 | 47.46 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Neuronetics, Inc.this co. | STIM | $102M | -2.61 | 4.54 | -174.3% | -5.84 |
| The Joint Corp. | JYNT | $117M | 40.32 | 7.80 | 19.3% | 118.19 |
| Aldeyra Therapeutics, Inc. | ALDX | $106M | -3.14 | 2.40 | -76.5% | -1.63 |
| Cardiff Oncology, Inc. | CRDF | $106M | -2.31 | 2.33 | -101.0% | -1.86 |
| OptimizeRx Corporation | OPRX | $101M | 19.67 |
| - |
| - |
| - |
| - |
| - |
| 0.79 |
| 4.0% |
| 6.26 |
| Definitive Healthcare Corp. | DH | $96M | -0.69 | 0.34 | -49.4% | -0.74 |
| Heron Therapeutics, Inc. | HRTX | $92M | - | 6.39 | -141.0% | - |
| Outset Medical, Inc. | OM | $88M | -1.07 | 0.69 | -64.3% | -2.46 |
| Aardvark Therapeutics, Inc. | AARD | $86M | -1.49 | 0.81 | -54.0% | -0.63 |
| Peer Median | - | -1.07 | 1.57 | -59.2% | -0.74 | |