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Neuronetics (STIM) investor relations material
Neuronetics Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was $41.962M, up 12.5% YoY; gross margin reached 52.2%, and operating income and Adjusted EBITDA turned positive at $0.541M and $1.887M.
Results improved, but a projected March 2027 revenue-covenant shortfall creates substantial going-concern uncertainty.
Financial highlights
Q3 gross profit was $21.890M versus $17.108M; gross margin was 52.2% versus 45.9% YoY.
Operating expenses fell to $21.349M from $24.429M; operating income was $0.541M versus a $7.321M loss.
Net loss attributable to stockholders was $1.692M, or $0.02 per share, versus $9.045M, or $0.13 per share; Adjusted EBITDA was $1.887M versus a $4.670M loss.
Nine-month revenue rose 10% to $118.0M; net loss narrowed to $15.8M from $31.9M, and operating cash use fell to $9.2M from $21.3M.
Outlook and guidance
FY 2026 revenue guidance remains $160M–$164M; gross margin guidance is 49%–50%, raised from 48%–50%.
FY 2026 operating expense guidance is $92.5M–$95.5M, or $89M–$92M excluding estimated $3.5M stock-based compensation.
FY 2026 cash flow from operating and investing activities is forecast at negative $10M to negative $12M, improved from prior guidance of negative $10.5M to negative $14.5M.
Revenue-covenant compliance and lender discussions remain pivotal; revenue-cycle improvements, clinic treatment options, and NeuroStar sales and product-mix strategies do not fully mitigate the risk.
- Q2 2026 revenue up 9.1% to $41.6M, gross margin 51.1%, net loss narrowed, liquidity risks persist.STIM
Q2 2026 - Director elections, auditor ratification, and equity plan all approved without shareholder questions.STIM
AGM 2026 - Q1 revenue up 8% to $34.5M, net loss narrows, but going concern risk remains.STIM
Q1 2026 - Votes sought for director elections, auditor ratification, compensation, and equity plan.STIM
Proxy filing - Annual meeting to vote on directors, auditor, executive pay, and new equity plan, with strong governance focus.STIM
Proxy filing - Over 20 million shares registered for resale post-acquisition, with no proceeds to the company.STIM
Registration Filing - Q4 revenue up 86% YoY, 23% pro forma, with positive cash flow and 2026 growth outlook.STIM
Q4 2025 - Q3 revenue up 4% to $18.5M; Greenbrook deal approved, boosting growth and synergies.STIM
Q3 2024 - Acquisition and integration of Greenbrook TMS set the stage for growth and operational synergies.STIM
Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024
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