Neuronetics, Inc. filings document the public reporting record for a Nasdaq-listed medical technology and healthcare company with common stock traded under STIM. Recent Form 8-K reports furnish operating results, investor presentation materials, executive appointments and retirements, compensation arrangements, restructuring charges, and material agreements tied to credit facilities and registration rights.
The company’s proxy materials describe annual meeting voting matters, director elections, auditor ratification, advisory executive compensation votes, and equity incentive plan approvals. Together with event reports, the filings disclose governance procedures, capital-structure matters, Nasdaq-listed security information, and contractual obligations associated with Neuronetics’ medical device and clinic-services operations.
Neuronetics, Inc. disclosed an initial statement of beneficial ownership for interim principal accounting officer Francis X. Brown III. The Form 3 shows he directly holds 19,968 shares of Common Stock as of the reported date, with no buy or sell transactions indicated.
Neuronetics, Inc. large shareholder Jorey Chernett reported an open-market purchase of 475,000 shares of Common Stock. The shares were bought at a weighted average price of $1.34 per share in multiple trades. After this transaction, Chernett directly holds 10,453,988 shares of Neuronetics common stock.
The filing notes that individual trade prices on the transaction date ranged from $1.27 to $1.36 per share, and Chernett has agreed to provide full trade-level detail upon request.
Neuronetics, Inc. reports Q1 2026 results and warns of substantial doubt about its ability to continue as a going concern because it currently projects breaching a March 31, 2027 revenue covenant on its Perceptive credit facility. Q1 revenue rose to $34.5 million, up from $32.0 million, driven mainly by a 15% increase in U.S. clinic revenue to $21.5 million. Treatment session revenue declined modestly to $9.1 million, while U.S. system revenue increased to $3.2 million on 35 systems sold. Gross margin slipped to 46.9% from 49.2%, reflecting mix within clinic revenue. Net loss narrowed to $10.8 million from $12.7 million, and operating cash outflow improved to $9.4 million. As of March 31, 2026, the company held $13.2 million in cash and cash equivalents and had $65.0 million outstanding under its Perceptive Facility, maturing in July 2029. Management is pursuing operational initiatives and has an at-the-market equity program with $41.7 million of capacity remaining, but notes these do not fully mitigate the covenant risk.
Neuronetics, Inc. reported first quarter 2026 revenue of $34.5M, up 8% from the same period in 2025, driven mainly by U.S. clinic revenue growth and higher NeuroStar system sales. U.S. clinic revenue rose to $21.5M, a 15% increase, while NeuroStar system revenue grew 13% to $3.2M. Treatment session revenue declined to $9.1M from $9.6M.
Gross margin slipped to 46.9% from 49.2%, but operating expenses fell 6% to $25.1M, narrowing the net loss to $(10.8)M, or $(0.16) per share. Adjusted EBITDA improved to $(6.6)M. Cash and restricted cash totaled $19.0M at March 31, 2026, down from $34.1M at year-end, reflecting a $5.0M debt repayment and operating cash use.
The company highlighted an Optum/UnitedHealthcare policy change allowing psychiatric mental health nurse practitioners to order and administer NeuroStar TMS in 26 states and Washington, D.C., expanding access to about 34.8 million covered lives. For full year 2026, Neuronetics expects revenue of $160–$166M with gross margin between 47–49% and cash flow from operations between $(13)M and $(17)M.
Neuronetics, Inc. insider Jorey Chernett purchased 200,000 shares of Common Stock in open-market transactions. He bought 100,000 shares on April 20 and another 100,000 shares on April 21 at weighted average prices around $1.51–$1.58 per share, executed in multiple trades within stated price ranges. After these purchases, he directly holds 9,978,988 shares of Neuronetics common stock.
Neuronetics, Inc. is asking stockholders to vote at its virtual 2026 annual meeting on May 28, 2026 at 8:00 a.m. Eastern Time. Holders of common stock at 5:00 p.m. Eastern Time on March 30, 2026, when 69,579,508 shares were outstanding, may participate and vote online.
Stockholders are being asked to elect seven directors, ratify KPMG as independent auditor for the year ending December 31, 2026, approve on an advisory basis 2025 compensation for named executive officers, and approve the new 2026 Equity Incentive Plan. The Board has determined that all directors other than the CEO are independent and recommends voting in favor of each proposal.
The proxy describes Board and committee structure, ESG oversight, stock ownership of major holders such as Madryn Asset Management, and detailed executive pay. In 2025, CEO Keith J. Sullivan received total compensation of $4,365,064, including salary, restricted stock awards, and an annual incentive tied to revenue and EBIT performance.
Neuronetics, Inc. shareholder Jorey Chernett, who beneficially owns 9,778,718 shares of common stock, representing 14.12% of the class, has amended his Schedule 13D filing.
On April 6, 2026, Chernett sent a letter to Neuronetics’ Board of Directors calling for an immediate, comprehensive review of strategic alternatives, including a potential sale or separation of the company’s transcranial magnetic stimulation (TMS) business. He argued the current structure and strategy are not maximizing shareholder value and suggested that divesting or separating the TMS business could improve financial flexibility and allow a more focused strategic direction. The letter urges the Board to hire qualified investment bankers and launch a formal strategic review process.
Neuronetics, Inc. announced several corporate updates, including leadership changes and a cost‑reduction initiative. Former President and CEO Keith J. Sullivan entered an Executive Consulting and Release Agreement and will provide consulting services through March 31, 2027 while continuing to vest in his existing equity awards.
The company initiated a workforce reduction affecting up to 5% of employees, expecting about $0.2 million in second‑quarter 2026 restructuring charges and annualized cost savings of roughly $2.5 million to $3.0 million, with most savings beginning in the third quarter of 2026. Executive Vice President, Chief Financial Officer, and Treasurer Steven E. Pfanstiel plans to resign effective May 1, 2026, and a search for his successor is underway.
Neuronetics also issued a press release reaffirming the financial guidance it provided during its fourth quarter 2025 earnings call, indicating that its revenue and expense expectations for fiscal 2026 remain unchanged despite these organizational changes.
Neuronetics, Inc. announced several corporate updates, including leadership changes and a cost‑reduction initiative. Former President and CEO Keith J. Sullivan entered an Executive Consulting and Release Agreement and will provide consulting services through March 31, 2027 while continuing to vest in his existing equity awards.
The company initiated a workforce reduction affecting up to 5% of employees, expecting about $0.2 million in second‑quarter 2026 restructuring charges and annualized cost savings of roughly $2.5 million to $3.0 million, with most savings beginning in the third quarter of 2026. Executive Vice President, Chief Financial Officer, and Treasurer Steven E. Pfanstiel plans to resign effective May 1, 2026, and a search for his successor is underway.
Neuronetics also issued a press release reaffirming the financial guidance it provided during its fourth quarter 2025 earnings call, indicating that its revenue and expense expectations for fiscal 2026 remain unchanged despite these organizational changes.
Madryn-affiliated funds reallocated Neuronetics, Inc. common stock between related vehicles. Two bona fide gift transfers on July 10, 2025 moved a total of 674,624 shares of common stock for no consideration between Madryn Health Partners II, LP and Madryn Health Partners II (Cayman Master), LP for fund administration purposes.
Following the transfers, one fund held 1,430,953 shares of Neuronetics common stock and the other held 17,044,940 shares. Madryn Asset Management, LP serves as investment advisor to both funds, and related Madryn entities may be deemed beneficial owners, while each reporting person disclaims beneficial ownership beyond its pecuniary interest.