Every 10-Q that Neuronetics, Inc. (STIM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow STIM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full STIM filings page.
Neuronetics, Inc. reported higher revenues but continued losses for the quarter and six months ended June 30, 2026. Total revenue was $41.6 million for the quarter, up from $38.1 million, and $76.0 million for the first half of 2026, up from $70.1 million, driven mainly by growth in Greenbrook clinic revenue, which contributed about two-thirds of sales. Gross profit rose to $21.2 million for the quarter and $37.4 million year-to-date, while operating expenses declined, leading to a smaller operating loss.
Net loss attributable to stockholders narrowed to $3.4 million for the quarter and $14.2 million year-to-date, compared with $10.1 million and $22.8 million in the prior-year periods. Operating cash outflow improved to $10.4 million for the first half of 2026, but cash and cash equivalents declined to $19.2 million, with $65.0 million of debt outstanding under the Perceptive Facility. Management discloses substantial doubt about the company’s ability to continue as a going concern due to projected failure of a revenue covenant for the period ending March 31, 2027, which could allow lenders to call the credit facility. Neuronetics raised $7.6 million net through its at-the-market equity program during the quarter and remained in covenant compliance as of June 30, 2026.
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 (STIM) reported Q3 2025 results. Revenue rose to $37.3 million from $18.5 million, reflecting the Greenbrook acquisition and a new services mix. U.S. clinic revenue contributed $21.8 million (60% of U.S. revenue), while treatment sessions were $10.5 million and NeuroStar systems were $3.5 million.
Gross profit was $17.1 million versus $14.0 million a year ago. The company posted a loss from operations of $7.3 million and a net loss of $9.4 million, improving from a $13.3 million net loss last year. EPS was ($0.13) versus ($0.44).
Liquidity strengthened through a February secondary offering of 9.2 million shares at $2.25 (net proceeds $18.9 million) and an at-the-market program that sold 2,261,835 shares for gross $8.3 million (net $7.8 million), leaving about $41.7 million available. Cash and cash equivalents were $28.0 million with $6.5 million restricted, and long-term debt, net, was $65.7 million; $70.0 million is outstanding under the Perceptive facility maturing in July 2029. Shares outstanding were 68.5 million as of October 29, 2025.
Neuronetics (STIM) Q2-25 10-Q snapshot
Revenue jumped 132% YoY to $38.1 M as the December 2024 Greenbrook acquisition added clinic revenue (61% of sales). Treatment-session revenue grew 32% while NeuroStar device sales fell 13%. Gross margin compressed to 46.6% from 74.0% given the lower-margin clinic mix.
Operating loss improved slightly to $8.1 M, but higher interest cost (SOFR+7%) left net loss to shareholders at $10.1 M (-$0.15/sh); share count more than doubled after a February 2025 secondary offering that raised $18.9 M net. Six-month revenue rose 107% to $70.1 M, with a net loss of $22.8 M.
Cash & equivalents fell to $11.0 M (plus $6.5 M restricted) after a $20.5 M operating cash burn YTD. Long-term debt remains $55.5 M under the Perceptive facility, maturing 2029; leverage covenants commence Q1-26. Equity totals $31.5 M.
Management expects available cash and projected sales to fund operations for at least 12 months and anticipates cost synergies from Greenbrook.