Neuronetics (STIM) lifts Q2 2026 revenue to $41.6M and guides 2026 sales up to $164M

Rhea-AI Filing Summary

Neuronetics, Inc. reported improved second-quarter 2026 results, driven by its Greenbrook clinic network. Total revenue for the three months ended June 30, 2026 was $41.6 million, up 9.1% from $38.1 million a year earlier. Greenbrook revenue rose to $26.9 million, up 16.8%, while NeuroStar revenue declined 2.7% to $14.7 million.

Gross margin expanded from 46.6% to 51.1%, reflecting a new go-to-market strategy and better revenue cycle management at Greenbrook. Operating expenses fell 12% to $22.7 million, reducing loss from operations to $1.5 million from $8.1 million. Adjusted EBITDA turned positive at $0.3 million versus a $5.6 million loss. Net loss narrowed to $3.4 million, or $0.05 per share, from $10.1 million, or $0.15 per share.

As of June 30, 2026, total cash (cash and cash equivalents plus restricted cash) was $25.0 million, down from $34.1 million at December 31, 2025, and long-term debt was $61.5 million. For full-year 2026, the company expects revenue of $160–$164 million (7–10% growth), gross margin between 48% and 50%, operating expenses of $91–$96 million excluding about $4 million of stock-based compensation, and cash flow from operations and investing between $(10.5) million and $(14.5) million.

Positive

• Revenue grew 9.1% year-over-year in Q2 2026 to $41.6 million, led by a 16.8% increase in Greenbrook revenue to $26.9 million.
• Gross margin improved to 51.1% from 46.6%, showing better economics from the new go-to-market approach and Greenbrook revenue cycle management.
• Operating expenses fell 12% to $22.7 million, driving a sharp reduction in loss from operations from $8.1 million to $1.5 million.
• Adjusted EBITDA turned positive at $0.3 million versus a $5.6 million loss, indicating progress toward breakeven operations.
• Full-year 2026 revenue guidance of $160–$164 million implies 7–10% growth with targeted gross margin between 48% and 50%.

Negative

• Despite improvements, the company still reported a net loss of $3.4 million in Q2 2026 and a six-month net loss of $14.2 million.
• Total cash declined to $25.0 million at June 30, 2026 from $34.1 million at December 31, 2025, while long-term debt remains high at $61.5 million.
• Guidance for 2026 projects negative cash flow from operations and investing of $(10.5) to $(14.5) million, signaling continued cash burn.
• NeuroStar revenue decreased 2.7% year-over-year in Q2 2026 to $14.7 million, indicating pressure in the core technology segment.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Total Revenue: $41.6 million Q2 2026 Greenbrook Revenue: $26.9 million Q2 2026 NeuroStar Revenue: $14.7 million +5 more

8 metrics

Q2 2026 Total Revenue $41.6 million Three months ended June 30, 2026; up 9.1% from $38.1 million in Q2 2025

Q2 2026 Greenbrook Revenue $26.9 million Three months ended June 30, 2026; up 16.8% from $23.0 million in Q2 2025

Q2 2026 NeuroStar Revenue $14.7 million Three months ended June 30, 2026; down 2.7% from $15.1 million in Q2 2025

Q2 2026 Gross Margin 51.1% Improved from 46.6% for the three months ended June 30, 2025

Q2 2026 Loss from Operations $1.5 million Loss from operations reduced from $8.1 million in the prior-year quarter

Q2 2026 Net Loss $3.4 million Net loss attributable to Neuronetics stockholders; $0.05 loss per share

Total Cash at June 30, 2026 $25.0 million Cash and cash equivalents of $19.2 million plus $5.8 million restricted cash

FY 2026 Revenue Guidance $160–$164 million Company outlook for 2026 revenue, representing 7–10% year-over-year growth

Key Terms

Adjusted EBITDA, restricted cash, transcranial magnetic stimulation, Risk Evaluation and Mitigation Strategy, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA during the second quarter of 2026 was $0.3 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

restricted cash financial

"cash and cash equivalents of $19.2 million and $5.8 million of restricted cash"

Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.

transcranial magnetic stimulation medical

"a leading provider of transcranial magnetic stimulation (“TMS”) treatment"

A noninvasive medical treatment that uses a changing magnetic field delivered through a coil placed near the head to stimulate specific areas of the brain, much like tapping a piano key to make a particular note play. Investors care because devices, clinical trial results, insurance coverage, and regulatory approvals determine commercial adoption and revenue potential for makers of the machines, clinics that offer the therapy, and related healthcare suppliers.

Risk Evaluation and Mitigation Strategy regulatory

"REMS (Risk Evaluation and Mitigation Strategy): an FDA-required safety program"

A risk evaluation and mitigation strategy is the process a company uses to identify potential problems that could hurt its finances or operations, estimate how likely and severe those problems are, and put practical steps in place to reduce their chance or impact. For investors, it matters because a clear, credible plan is like good insurance and brakes on a car — it lowers the chance of sudden losses, improves predictability, and can make a business a safer, more attractive investment.

Non-GAAP financial measures financial

"Non-GAAP Financial Measures (Unaudited) EBITDA and adjusted EBITDA are not measures"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Earnings Snapshot

Total revenue Q2 2026: $41.6 million · Guidance included

three and six months ended June 30, 2026

Total revenue Q2 2026 $41.6 million up 9.1% year-over-year

Greenbrook revenue Q2 2026 $26.9 million up 16.8% year-over-year

NeuroStar revenue Q2 2026 $14.7 million down 2.7% year-over-year

Gross margin Q2 2026 51.1% up from 46.6% in Q2 2025

Loss from operations Q2 2026 $1.5 million improved from $8.1 million loss

Adjusted EBITDA Q2 2026 $0.3 million improved from $(5.6) million

Guidance

For full-year 2026, Neuronetics expects revenue of $160–$164 million, gross margin between 48% and 50%, operating expenses of $91–$96 million excluding ~$4 million stock-based compensation, and cash flow from operations and investing of $(10.5) million to $(14.5) million.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did Neuronetics (STIM) perform financially in Q2 2026?

Neuronetics reported Q2 2026 revenue of $41.6 million, up 9.1% from $38.1 million in Q2 2025. Gross margin improved to 51.1%, loss from operations narrowed to $1.5 million, and adjusted EBITDA turned positive at $0.3 million.

What were the NeuroStar and Greenbrook segment results for Neuronetics (STIM) in Q2 2026?

In Q2 2026, NeuroStar revenue was $14.7 million, down 2.7% year-over-year, while Greenbrook revenue rose to $26.9 million, up 16.8%. Segment trends show clinic operations driving overall growth despite softness in NeuroStar system revenue.

Did Neuronetics (STIM) achieve profitability or positive EBITDA in Q2 2026?

Neuronetics remained unprofitable but improved results. It posted a net loss of $3.4 million, or $0.05 per share, versus a $10.1 million loss a year earlier. Adjusted EBITDA was positive $0.3 million, compared with a $5.6 million loss in Q2 2025.

What is Neuronetics’ (STIM) cash and debt position as of June 30, 2026?

As of June 30, 2026, Neuronetics held $25.0 million in total cash (cash and cash equivalents plus restricted cash). Long-term debt, net, was $61.5 million, and total liabilities were $109.9 million against total equity of $21.6 million.

What guidance did Neuronetics (STIM) provide for full-year 2026?

For 2026, Neuronetics expects revenue of $160–$164 million (7–10% growth), gross margin between 48% and 50%, operating expenses of $91–$96 million excluding ~$4 million stock-based compensation, and cash flow from operations and investing of $(10.5) to $(14.5) million.

How are Neuronetics’ (STIM) operating expenses trending?

Q2 2026 operating expenses were $22.7 million, down from $25.8 million in Q2 2025, a 12% reduction. The company guides full-year 2026 operating expenses to $91–$96 million, excluding about $4 million of non-cash stock-based compensation.

false 0001227636 0001227636 2026-08-11 2026-08-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 11, 2026

NEURONETICS, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-38546		33-1051425
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

3222 Phoenixville Pike, Malvern, PA		19355
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (877) 600-7555

(Former name or former address, if changed since last report.) Not applicable.

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol (s)		Name on each exchange on which registered
Common Stock ($0.01 par value)		STIM		The Nasdaq Global Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Neuronetics, Inc. (the “Company”) issued a press release on August 11, 2026, announcing its financial results for the three and six months ended June 30, 2026. A copy of the press release is being furnished to the Securities and Exchange Commission (“SEC”) as Exhibit 99.1 to this report on Form 8-K and is incorporated by reference to this Item 2.02.

***

The information furnished pursuant to Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any of the Company’s filings with the SEC under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), whether made before or after the date hereof, regardless of any general incorporation language in such a filing, except as expressly set forth by specific reference in such a filing. Except as required by law, the Company undertakes no duty or obligation to publicly update or revise the information so furnished.

Item 7.01 Regulation FD Disclosure.

On August 11, 2026, Neuronetics released a presentation (the “Presentation”) that it may present to certain investors. A copy of the Presentation is attached hereto as Exhibit 99.2. The information contained in Exhibit 99.2 is incorporated herein by reference.

The information in this report furnished pursuant to Item 7.01, including Exhibit 99.2, shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any of the Company’s filings with the SEC under the Exchange Act or the Securities Act whether made before or after the date hereof, regardless of any general incorporation language in such a filing, except as expressly set forth by specific reference in such a filing. Except as required by law, the Company undertakes no duty or obligation to publicly update or revise the information so furnished.

“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995:

Certain statements in this report, including the documents incorporated by reference herein, include “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws. Statements in this report that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “may,” “will,” “would,” “should,” “expect,” “plan,” “design,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “outlook” or “continue” as well as the negative of these terms and similar expressions. These statements include those relating to the Company’s business outlook and current expectations for upcoming quarters and fiscal year 2026 including with respect to revenue, expenses, growth, and any statements of assumptions underlying any of the foregoing items. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this report. These risks and uncertainties include, without limitation, risks and uncertainties related to: the effect of the transaction with Greenbrook TMS Inc. on our business relationships; operating results and business generally; our ability to execute our business strategy; our ability to achieve or sustain profitable operations due to our history of losses; our reliance on the sale and usage of our NeuroStar Advanced Therapy System to generate revenues; the scale and efficacy of our salesforce; our ability to retain talent; availability of coverage and reimbursement from third-party payors for treatments using our products; physician and patient demand for treatments using our products; developments in respect of competing technologies and therapies for the indications that our products treat; product defects; our ability to obtain and maintain intellectual property protection for our technology; developments in clinical trials or regulatory review of

the NeuroStar Advanced Therapy System for additional indications; developments in regulation in the U.S. and other applicable jurisdictions; potential effects of evolving and/or extensive government regulation; the terms of our credit facility; our self-sustainability; existing cash balance; our ability to achieve positive cash flows; and our ability to continue as a going concern. For a discussion of these and other related risks, please refer to the Company’s recent filings with the SEC, which are available on the SEC’s website at www.sec.gov, including, without limitation, the factors described under the heading “Risk Factors” in Neuronetics’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as may be updated or supplemented by subsequent reports that Neuronetics has filed or files with the SEC. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this report. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this report as a result of new information, future events, or changes in the Company’s expectations.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
99.1		Press Release, dated August 11, 2026, of Neuronetics, Inc.
99.2		Company Presentation August 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				NEURONETICS, INC.
				(Registrant)
Date: August 11, 2026				By:		/s/ Daniel L. Reuvers
				Name:		Daniel L. Reuvers
				Title:		President and Chief Executive Officer

Exhibit 99.1

Neuronetics Reports Second Quarter 2026 Financial and Operating Results

MALVERN, PA., August 11, 2026 – Neuronetics, Inc. (NASDAQ: STIM) (the “Company” or “Neuronetics”), a leader in interventional mental health that combines its NeuroStar^® TMS technology with direct patient care through the Greenbrook network of interventional psychiatry clinics, today announced its financial and operating results for the second quarter of 2026.

Second Quarter 2026 Financial Highlights

• Total revenue of $41.6 million, up 9.1% compared to the second quarter of 2025

• Greenbrook revenue of $26.9 million, up 16.8% compared to the second quarter of 2025

• Adjusted EBITDA of $0.3 million compared to a loss of $5.6 million in the second quarter of 2025

• Net loss of $3.4 million compared to a loss of $10.1 million in the second quarter of 2025

• Net cash used in operations and investing of $1.4 million, a reduction of $2.3 million compared to $3.8 million in the second quarter of 2025

Recent Operational Highlights

• Nir Naor appointed as Executive Vice President, Chief Financial Officer, Corporate Secretary, and Treasurer

• Cory Anderson promoted to Executive Vice President/General Manager of Greenbrook clinics

• Rob Greene appointed as Senior Vice President, Sales

“This was a quarter of real operational progress, and meaningful steps toward our goal of sustained profitability and positive net cash flow from operations and investing,” said Dan Reuvers, President and Chief Executive Officer of Neuronetics. “For some time, NeuroStar has not competed to its full potential, and we are changing that by broadening how customers can access our technology while we continue to drive operational gains across the Greenbrook clinics. We also strengthened our leadership team, adding proven talent in key roles. The combination of a leading TMS platform and a national care network is what sets Neuronetics apart, and it positions us to lead as new interventional therapies come to market. There is more work ahead, but I am encouraged by the traction we are beginning to demonstrate.”

Second Quarter 2026 Financial and Operating Results for the Three Months Ended June 30, 2026

		Revenues by Segments
		Three Months Ended June 30,
		2026				2025
		Amount				Amount				% Change
		(Unaudited; in thousands, except percentages)
NeuroStar revenue		$	14,677			$	15,084				(2.7	)%
Greenbrook revenue			26,891				23,024				16.8	%
Total revenues		$	41,568			$	38,108				9.1	%

Total revenue for the three months ended June 30, 2026 was $41.6 million, an increase of $3.5 million, or 9.1%, compared to the three months ended June 30, 2025 of $38.1 million. The increase was primarily driven by higher Greenbrook revenue, which increased to $26.9 million in the second quarter of 2026 from $23.0 million in the second quarter of 2025, reflecting continued growth of the Greenbrook business.

Gross margin increased from 46.6% for the three months ended June 30, 2025 to 51.1% for the three months ended June 30, 2026. The increase in gross margin was driven by the positive impact of our new go-to-market strategy, as well as improved revenue cycle management within the Greenbrook clinics.

Operating expenses during the second quarter of 2026 were $22.7 million, a decrease of $3.1 million, or 12%, compared to $25.8 million in the second quarter of 2025, primarily attributable to lower general and administrative expenses and lower sales and marketing expenses.

Loss from operations during the second quarter of 2026 was $1.5 million, a decrease of $6.6 million, as compared to a loss of $8.1 million in the second quarter of 2025. Adjusted EBITDA during the second quarter of 2026 was $0.3 million, an increase of $5.9 million compared to a loss of $5.6 million in the second quarter of 2025.

Net loss for the second quarter of 2026 was $3.4 million, or $0.05 per share, as compared to $10.1 million, or $0.15 per share, in the second quarter of 2025. Net loss per share was based on 73,129,107 and 66,180,069 weighted average common shares outstanding for the second quarters of 2026 and 2025, respectively.

As of June 30, 2026, the Company held $25 million in total cash, consisting of cash and cash equivalents of $19.2 million and $5.8 million of restricted cash, compared to total cash of $34.1 million as of December 31, 2025.

Strengthened Leadership Team

The Company made a series of changes to strengthen its senior leadership team and align its structure with the Company’s priorities. Nir Naor was appointed Executive Vice President, Chief Financial Officer, Corporate Secretary, and Treasurer, bringing more than 20 years of finance leadership across medical device and care-delivery businesses, including experience guiding a company to profitability and positive cash flow. Cory Anderson, a five-year veteran of the Company, was promoted to Executive Vice President and General Manager of Greenbrook, reflecting the growing importance of the clinic business. Rob Greene joined as Senior Vice President, Sales, bringing extensive commercial leadership across healthcare and medical technology, including capital equipment and service, to support the Company’s expanded NeuroStar go-to-market models.

Business Outlook

For the full year 2026, Neuronetics expects:

• Total revenue between $160 million and $164 million, as compared to prior guidance of $160 million and $166 million;

• Gross margin between 48% and 50%, as compared to prior guidance of 47% and 49%;

• Operating expenses between $95 million to $100 million, compared to prior guidance of $100 million to $105 million. Going forward, operating expense guidance will exclude stock-based compensation. On this basis, operating expenses are expected to be $91 million to $96 million, with estimated stock-based compensation of $4 million.

• Cash flow from operations and investing in the range of negative $10.5 million to negative $14.5 million. This is compared to our prior guidance of cash flow from operations only in the range of negative $13 million to negative $17 million.

Non-GAAP Financial Measures (Unaudited)

Operating Expense Guidance: FY 2026

The following table presents the Company’s reconciliation between Operating Expenses and Operating Expenses less Non-cash Stock- Based Compensation. This adjusted guidance is based on assumptions that management believes are reasonable under the circumstances. However, they are not necessarily indicative of the Company’s future performance. Operating Expenses less Stock Based Compensation are projected Operating Expenses for the fiscal year 2026, less non-cash stock-based compensation.

		Range
		(in thousands)
Operating expenses		$	95			$	100
Non-cash stock-based compensation expense (“SBC”)1		$	4			$	4
Operating expenses, less SBC		$	91			$	96

(1) Stock-based compensation consists of expenses related to restricted stock units and performance based restricted stock units. We exclude these expenses from our non-GAAP financial measures because they are non-cash charges that we do not consider reflective of our core ongoing operational performance. While share-based compensation is a recurring expense and a key part of our employee retention strategy, excluding it allows management and investors to compare our operational profitability more consistently against prior periods and industry peers.

Webcast and Conference Call Information

The conference call will be broadcast live in listen-only mode via webcast at https://edge.media-server.com/mmc/p/7ri4xna9. To listen to the conference call on your telephone, participants may register for the call here. While it is not required, it is recommended you join 10 minutes prior to the event start

About Neuronetics

Neuronetics, Inc. is a leader in interventional mental health, combining innovative treatment technologies with direct patient care. Through its NeuroStar^® Advanced Therapy system, the Company is a leading provider of transcranial magnetic stimulation (“TMS”) treatment and, through Greenbrook TMS Inc. (“Greenbrook”), operates one of the largest interventional psychiatry clinic networks in the United States, offering both TMS and SPRAVATO^® therapies. NeuroStar Advanced Therapy is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication has not helped. NeuroStar Advanced Therapy is the leading TMS treatment for major depressive disorder (“MDD”) in adults and is backed by what we believe is the largest clinical data set of any TMS treatment system for depression. Greenbrook treatment centers also offer SPRAVATO^® (esketamine) nasal spray, a prescription medicine indicated for the treatment of treatment-resistant depression (“TRD”) in adults as monotherapy or in conjunction with an oral antidepressant. It is also indicated for depressive symptoms in adults with MDD with acute suicidal ideation or behavior in conjunction with an oral antidepressant.¹

The NeuroStar Advanced Therapy System is cleared by the U.S. Food and Drug Administration for adults with MDD, as an adjunct for adults with obsessive-compulsive disorder, to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression), and as a first line adjunct for the treatment of MDD in adolescent patients aged 15-21. For safety information and indications for use, visit NeuroStar.com.

“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995:

Certain statements in this press release, including the documents incorporated by reference herein, include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws. Statements in this press release that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “may,” “will,” “would,” “should,” “expect,” “plan,” “design,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “outlook” or “continue” as well as the negative of these terms and similar expressions. These statements include those relating to the Company’s business outlook and current expectations for upcoming quarters and fiscal year 2026, including with respect to revenue, expenses, growth, and any statements of assumptions underlying any of the foregoing items. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to: the effect of the transaction with Greenbrook on our business relationships; operating results and business generally; our ability to execute our business strategy; our ability to achieve or sustain profitable operations due to our history of losses; our reliance on the sale and usage of our NeuroStar Advanced Therapy System to generate revenues; the scale and efficacy of our salesforce; our ability to retain talent; availability of coverage and reimbursement from third-party payors for treatments using our products; physician and patient demand for treatments using our products; developments in respect of competing technologies and therapies for the indications that our products treat; product defects; our ability to obtain and maintain intellectual property protection for our technology; developments in clinical trials or regulatory review of the NeuroStar Advanced Therapy System for additional indications; developments in regulation in the U.S. and other applicable jurisdictions; potential effects of evolving and/or extensive government regulation; the terms of our credit facility; our self-sustainability; existing cash balance; our ability to achieve positive cash flows; and our ability to continue as a going concern. For a discussion of these and other related risks, please refer to the Company’s recent filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov, including, without limitation, the factors described under the heading “Risk Factors” in Neuronetics’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and the company’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2026, as may be updated or supplemented by subsequent reports that Neuronetics has filed or files with the SEC. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this press release. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, or changes in the Company’s expectations.

Investor Contact:

Mike Vallie or Mark Klausner

ICR Healthcare

443-213-0499

ir@neuronetics.com

Media Contact:

EvolveMKD

646-517-4220

NeuroStar@evolvemkd.com

NEURONETICS, INC.

Consolidated Statements of Operations

(Unaudited; In thousands, except per share data)

		Three Months ended								Six months ended
		June 30,								June 30,
		2026				2025				2026				2025
Revenues
NeuroStar		$	14,677			$	15,084			$	27,602			$	28,400
Greenbrook			26,891				23,024				48,420				41,683
Total Revenue			41,568				38,108				76,022				70,083
Cost of revenues
NeuroStar			3,312				4,311				6,170				7,461
Greenbrook			17,033				16,039				32,475				29,126
Total Cost of revenues			20,345				20,350				38,645				36,587
Gross profit			21,223				17,758				37,377				33,496
Operating expenses:
Sales and marketing			9,984				11,868				20,721				23,867
General and administrative			11,404				12,150				24,452				25,287
Research and development			1,336				1,798				2,700				3,414
Total operating expenses			22,724				25,816				47,873				52,568
Loss from operations			(1,501	)			(8,058	)			(10,496	)			(19,072	)
Other (income) expense:
Interest expense			2,125				1,969				4,391				3,891
Loss on extinguishment of debt			—				—				539				—
Other income, net			(162	)			(188	)			(1,182	)			(435	)
Net loss		$	(3,464	)		$	(9,839	)		$	(14,244	)		$	(22,528	)
Less: Net gain (loss) attributable to non-controlling interest			(25	)			281				(15	)			267
Net loss attributable to Neuronetics stockholders			(3,439	)			(10,120	)			(14,229	)			(22,795	)
Net loss per share of common stock outstanding, basic and diluted attributable to Neuronetics stockholders		$	(0.05	)		$	(0.15	)		$	(0.20	)		$	(0.36	)
Weighted average common shares outstanding, basic and diluted			73,129				66,180				71,369				63,835

NEURONETICS, INC.

Consolidated Balance Sheets

(Unaudited; In thousands, except per share data)

		June 30,				December 31,
		2026				2025
Assets
Current assets:
Cash and cash equivalents		$	19,197			$	28,134
Restricted cash			5,750				6,000
Accounts receivable, net of allowance for credit losses of $553 and $1,043 as of June 30, 2026 and December 31, 2025, respectively			15,955				16,469
Inventory			5,502				4,327
Current portion of net investments in sales-type leases			233				225
Current portion of prepaid commission expense			2,773				3,050
Current portion of note receivables			315				424
Prepaid expenses and other current assets			3,505				2,922
Total current assets			53,230				61,551
Property and equipment, net			3,464				4,466
Goodwill			23,622				23,622
Intangible assets, net			17,420				18,149
Operating lease right-of-use assets			23,913				23,560
Net investments in sales-type leases			65				98
Prepaid commission expense			6,980				7,972
Long-term notes receivable			43				151
Other assets			2,792				1,982
Total assets		$	131,529			$	141,551
Liabilities and Equity
Current liabilities:
Accounts payable		$	12,419			$	10,739
Accrued expenses			8,929				12,316
Current portion of deferred revenue			1,143				753
Deferred and contingent consideration			250				500
Other payables			425				652
Current portion of operating lease liabilities			5,143				5,561
Total current liabilities			28,309				30,521
Long-term debt, net			61,519				65,807
Other long term liabilities			142				—
Deferred revenue			58				48
Operating lease liabilities			19,861				18,935
Total liabilities			109,889				115,311
Commitments and contingencies
Equity:
Preferred stock, $0.01 par value: 10,000 shares authorized; no shares issued or outstanding on June 30, 2026 and December 31, 2025			—				—
Common stock, $0.01 par value: 250,000 shares authorized; 76,193 and 68,994 shares issued and outstanding on June 30, 2026 and December 31, 2025, respectively			762				690
Additional paid-in capital			490,239				480,475
Accumulated deficit			(473,151	)			(458,787	)
Total Stockholders’ equity			17,850				22,378
Non-controlling interest			3,790				3,862
Total equity			21,640				26,240
Total liabilities and equity		$	131,529			$	141,551

NEURONETICS, INC.

Consolidated Statements of Cash Flows

(Unaudited; In thousands)

		Six months ended June 30,
		2026				2025
Cash flows from operating activities:
Net loss		$	(14,244	)		$	(22,528	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			1,474				1,812
Allowance for credit losses			(160	)			83
Inventory impairment			—				177
Share-based compensation			2,365				3,258
Non-cash interest expense			478				388
Loss on extinguishment of debt			539				—
Loss on disposal of property and equipment			369				43
Changes in certain assets and liabilities:
Accounts receivable, net			893				(2,479	)
Inventory			(1,289	)			(791	)
Net investments in sales-type leases			24				12
Prepaid commission expense			1,268				613
Prepaid expenses and other assets			(647	)			3,356
Accounts payable			1,572				(1,803	)
Accrued expenses			(3,386	)			(2,236	)
Other liabilities			(85	)			(320	)
Deferred revenue			400				(82	)
Net cash used in operating activities			(10,429	)			(20,497	)
Cash flows from investing activities:
Purchases of property and equipment and capitalized software			(614	)			(471	)
Proceeds from the sale of property and equipment			25				—
Net cash used in investing activities			(589	)			(471	)
Cash flows from financing activities:
Payments of debt issuance costs			(55	)			—
Repayment of deferred and contingent consideration			(250	)			—
Repayment of long-term debt			(5,000	)			—
Payment for debt extinguishment costs			(250	)			—
Proceeds from the issuance of common stock			—				20,700
Payments of common stock offering issuance costs			—				(1,731	)
Proceeds from issuance of common stock under ATM Program			7,954				—
Payments of common stock offering issuance costs under ATM Program			(376	)			—
Distribution to non-controlling interest			(192	)			—
Proceeds from exercises of stock options			—				9
Net cash provided by financing activities			1,831				18,978
Net decrease in Cash, Cash equivalents and Restricted cash			(9,187	)			(1,990	)
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period			34,134				19,459
Cash and cash equivalents and restricted cash and cash equivalents, end of period		$	24,947			$	17,469
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet:
Cash and cash equivalents			19,197				10,969
Restricted cash and cash equivalents			5,750				6,500
Total cash, cash equivalents and restricted cash		$	24,947			$	17,469

Non-GAAP Financial Measures (Unaudited)

EBITDA and adjusted EBITDA are not measures of financial performance under generally accepted accounting principles in the U.S. (“GAAP”), and should not be construed as a substitute for, or superior to, GAAP net loss. However, management uses both the GAAP and non-GAAP financial measures internally to evaluate and manage the Company’s operations and to better understand its business. Further, management believes that the addition of the non-GAAP financial measures provides meaningful supplementary information to, and facilitates analysis by, investors in evaluating the Company’s financial performance, results of operations and trends. The Company’s calculation of EBITDA and adjusted EBITDA may not be comparable to similarly designated measures reported by other companies, because companies and investors may differ as to what type of events warrant adjustment.

The following table reconciles reported net loss to EBITDA and adjusted EBITDA:

		Three Months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
		(in thousands)								(in thousands)
Net loss attributable to Neuronetics stockholders’		$	(3,439	)		$	(10,120	)		$	(14,229	)		$	(22,795	)
Interest expense, net			1,963				1,781				3,209				3,456
Income taxes			—				—				—				—
Depreciation and amortization			729				901				1,474				1,812
EBITDA		$	(747	)		$	(7,438	)		$	(9,546	)		$	(17,527	)
Stock based compensation (Note. 1)			688				1,814				2,365				3,258
Loss on extinguishment of debt (Note. 2)			—				—				539				—
Restructuring (Note. 3)			313				—				313				—
Adjusted EBITDA		$	254			$	(5,624	)		$	(6,329	)		$	(14,269	)

Footnotes

1. Stock-based compensation consists of expenses related to restricted stock units and performance based restricted stock units. We exclude these expenses from our non-GAAP financial measures because they are non-cash charges that we do not consider reflective of our core ongoing operational performance. While share-based compensation is a recurring expense and a key part of our employee retention strategy, excluding it allows management and investors to compare our operational profitability more consistently against prior periods and industry peers.

2. In connection with its $5 million repayment of debt in the first quarter of 2026 to Perceptive Advisors, LLC, the Company recorded a total loss on partial debt extinguishment of approximately $0.5 million. This infrequent and non-recurring expense is removed from EBITDA in order to provide a more accurate reflection of the Company’s core operational performance for the period presented.

3. Restructuring expense represents net costs incurred in connection with leadership workforce reductions, role eliminations, or organizational restructuring activities, that are not expected to recur in the ordinary course of business. These costs have been added back to EBITDA because they are considered non-recurring and not reflective of the Company’s ongoing operating performance. Management believes excluding these expenses provides a more meaningful measure of normalized earnings and period-to-period operating comparability.

References

1 The effectiveness of SPRAVATO in preventing suicide or in reducing suicidal ideation or behavior has not been demonstrated. Use of SPRAVATO does not preclude the need for hospitalization if clinically warranted, even if patients experience improvement after an initial dose of SPRAVATO. For more important safety information about SPRAVATO, please visit spravatohcp.com.

COMPANY PRESENTATION NASDAQ: STIM August 2026 Exhibit 99.2

Forward Looking Statements This presentation contains estimates and other statistical data prepared by independent parties and by Neuronetics, Inc. (“Neuronetics” or the “Company”) relating to market size and growth and other data about the industry in which the Company operates. These estimates and data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and data. Certain statements in this presentation, including the documents incorporated by reference herein, include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws. Statements in this presentation that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “may,” “will,” “would,” “should,” “expect,” “plan,” “design,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “outlook” or “continue” as well as the negative of these terms and similar expressions. These statements include those relating to the Company’s business outlook and current expectations for upcoming quarters and fiscal year 2026, including with respect to revenue, expenses, growth, and any statements of assumptions underlying any of the foregoing items. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this presentation. These risks and uncertainties include, without limitation, risks and uncertainties related to: the effect of the transaction with Greenbrook TMS Inc. (“Greenbrook”) on our business relationships; operating results and business generally; our ability to execute our business strategy; our ability to achieve or sustain profitable operations due to our history of losses; our reliance on the sale and usage of our NeuroStar Advanced Therapy System to generate revenues; the scale and efficacy of our salesforce; our ability to retain talent; availability of coverage and reimbursement from third-party payors for treatments using our products; physician and patient demand for treatments using our products; developments in respect of competing technologies and therapies for the indications that our products treat; product defects; our ability to obtain and maintain intellectual property protection for our technology; developments in clinical trials or regulatory review of the NeuroStar Advanced Therapy System for additional indications; developments in regulation in the U.S. and other applicable jurisdictions; potential effects of evolving and/or extensive government regulation; the terms of our credit facility; our self-sustainability; existing cash balance; our ability to achieve positive cash flows; and our ability to continue as a going concern. For a discussion of these and other related risks, please refer to the Company’s recent filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov, including, without limitation, the factors described under the heading “Risk Factors” in Neuronetics’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as may be updated or supplemented by subsequent reports that Neuronetics has filed or files with the SEC. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this presentation. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this presentation as a result of new information, future events, or changes in the Company’s expectations.

Non-GAAP Financial Measures In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), from time to time we may use or publicly disclose certain non-GAAP financial measures in the course of our financial presentations, earnings releases, earnings conference calls, and otherwise. For these purposes, the SEC defines a non-GAAP financial measure as a numerical measure of historical or future financial performance, financial positions, or cash flows that (i) exclude amounts, or is subject to adjustments that effectively exclude amounts, included in the most directly comparable measure calculated and presented in accordance with GAAP in financial statements, and (ii) include amounts, or is subject to adjustments that effectively include amounts, that are excluded from the most directly comparable measure so calculated and presented. Non-GAAP financial measures are provided as additional information to investors to provide an alternative method for assessing our financial condition and operating results. We believe that these non-GAAP measures, when taken together with our GAAP financial measures, allow us and our investors to better evaluate our performance and profitability. These measures are not in accordance with, or a substitute for, GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. These measures should be used in addition to and in conjunction with results presented in accordance with GAAP, and should not be relied upon to the exclusion of GAAP financial measures. Pursuant to the requirements of Regulation G, whenever we refer to a non-GAAP financial measure, we will also generally present, the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference with such comparable GAAP financial measure.

253,412 Unique Patients Treated1 9,133,855 Treatments Administered1 $149M Annual Revenue (2025) 1) Neuronetics, Inc. internal estimate based on the Company’s data on total treatment sessions and patients treated. The leading platform for delivering in-office mental health therapies when common anti-depressants fail

Seasoned Senior Leadership Team Cory Anderson Executive Vice President and General Manager of Greenbrook Dan Reuvers President & CEO Rob Greene Senior Vice President of Sales Nir Naor Chief Financial Officer

A Leader in Mental Health Care Through its nationwide network of customers and company-run clinics, Neuronetics is facilitating access to leading therapies for mental health conditions. *Psychedelics are not yet commercially available and pending FDA approval

Over 29 Million Lives Affected by Depression1,2,3 U.S. Adults and Adolescents (ages 15-21) suffering from depression, depression with anxiety and OCD Total Available Market 29.3 million What is MDD? Major depressive disorder is persistent low mood or loss of interest lasting two weeks or more, enough to disrupt daily life. How can MDD affect patients? Impairs work, relationships, and daily function A leading cause of disability Often recurrent, with high relapse risk How does it present in patients? Low mood, loss of interest, and changes in sleep, appetite, energy, and concentration, sometimes with thoughts of death or suicidal ideation. Adult Depression (MDD) 21million + Adolescent Depression 4.3 million + OCD 4 million 1) NIMH https://www.nimh.nih.gov/health/statistics/major-depression.shtml, accessed 4/29/2024. (2) Depression- Pharma Intelligence Disease Analysis, www.datamonitorhealthcare.com, Publication Date: June 2021. (3) Harvard Medical School, 2007. National Comorbidity Survey (NCSSC).

8 Million Patients are Poorly Served by Medication1,2,3,4,5 First-line medical management via anti-depressants has significant limitations  Antidepressants have limited effectiveness Patients’ chances for remission decreases with each subsequent medication attempt Antidepressants have material side effects Discontinuation of medication increases with each new drug due to impact of side effects 6) Trivedi (2006), Am J Psychiatry | 7) Rush (2006), Am J Psychiatry | 8) Fava (2006), Am J Psychiatry | 9) McGrath (2006), Am J Psychiatry (1) NIMH https://www.nimh.nih.gov/health/statistics/major-depression.shtml, accessed 4/29/2024. (2) Per STAR*D patients that have failed one or more antidepressant trial of adequate dose and duration. (3) Journal of Clinical Psychiatry, accessed 3/7/2022. (4) Key Substance Use and Mental Health Indicators in the United States: Results from the 2017 National Survey on Drug Use and Health. (5) Definitive Health Diagnosis/Prescription Data: 3/25/22.

Innovative In-Office Therapies Offering two rapidly growing therapies for treatment resistant depression (TRD) when common anti-depressants fail Transcranial Magnetic Stimulation (TMS) Nasal Esketamine Spray Growth in Patients Treated with TMS in 20251 +23% Growth in Spravato Revenue in 20252 +57% US Procedures based on 2026 Definitive Healthcare INC. w/ +7% increase to account for cash pay not captured in billing data. As reported by Johnson & Johnson for year ended Dec 31, 2025

NeuroStar TMS The industry's leading TMS therapeutic platform 83% measurable relief1 62% full remission2 19 min per session 36 daily sessions How it works TMS uses focused magnetic pulses to gently activate brain circuits involved in mood, helping them function more normally over time. Treatment course A typical course is 36 daily sessions, with sessions as short as 19 minutes. Safety and experience Not a drug, surgery, or ECT "shock therapy". No sedation, and patients resume normal activities right after each session; side effects are typically mild scalp discomfort or headache. Access and coverage FDA-cleared and covered by most major insurers for patients who qualify. Sackeim HA, et al. (2020). Clinical Outcomes in a Large Registry of Patients with Major Depressive Disorder Treated with Transcranial Magnetic Stimulation. Journal of Affective Disorders, 277(12):65-74. Carpenter LL, et al. (2012). Transcranial Magnetic Stimulation (TMS) for Major Depression: A Multisite Naturalistic, Observational Study of Acute Treatment Outcomes in Clinical Practice. Depression and Anxiety, 29(7):587-596.

Spravato Approved for use as monotherapy or in combination with existing antidepressants 52% remission at 4 weeks2 How it works Prescription nasal spray that is believed to target glutamate, working differently from standard antidepressants. Treatment course Twice weekly for four weeks, then weekly or every other week, in a certified office. Safety and experience Supervised dosing with at least 2-hours of monitoring; the majority of side effects resolved on the day of dosing. Access and coverage FDA-approved and covered by most major insurers with prior authorization. 24 hr Results as early as 24 hours1 2 hour treatments 2 doses for two weeks SPRAVATO Prescribing Information, Janssen Pharmaceuticals, Inc. Revised 2025. Section 14, Clinical Studies. SPRAVATO (esketamine) Summary of Product Characteristics. European Medicines Agency.

Deploying Therapies Through Unique, Scaled Model NeuroStar TMS Customers 92 Clinics Nationwide 800+ Sites Nationwide Mix of company-owned sites and NeuroStar TMS customers facilitates widespread patient access

Individualized, ongoing care Greenbrook Mental Wellness Centers Offering both therapies within a single clinic enables continuity of care. Treatment is individualized at initiation and adjusted over time, managed within one integrated care relationship. Referred patients are evaluated, matched to the right therapy, and managed over time Intake: Patient Referral Patient Evaluation

Greenbrook: A Leading Platform for Emerging Therapies Greenbrook’s infrastructure can support additional novel therapies as they reach the market Uniquely positioned to be at the forefront of psychedelic therapy administration REMS (Risk Evaluation and Mitigation Strategy): an FDA-required safety program mandating certified sites, trained staff, and supervised in-office administration. Psychedelics are not yet commercially available and pending FDA approval Greenbrook Proven REMS1 infrastructure, built through Spravato experience REMS launch experience Certified sites Trained staff Benefits & prior-auth National footprint Available capacity Potential Near-Term Psychedelic Opportunities2 COMP360 psilocybin for MDD First-ever psychedelic offering for depression · Existing Compass Pathways collaboration Phase 3 trial complete FDA decision expected year-end 2026 Preparing 2027 commercial rollout Additional psychedelic-class therapies in development TRD, including post-traumatic stress disorder and anxiety

NeuroStar: Evolving our Go-to-Market Approach Competing across a broader set of customers than ever before, while preserving the support that sets us apart. Three ways to access NeuroStar, broadening reach while preserving high-touch support From one model to three Our Treatment Session model, high-touch and ongoing, set NeuroStar apart, but did not fit every customer. Now customers choose which economic best fits their needs. CAPITAL Own It Outright Purchase the system directly, with support available à la carte, allowing customers to choose the elements they value most. Upfront: High Support: À la carte LEASE Finance It Use the system over time with no significant upfront commitment, broadening the set of customers we can reach. Upfront: Low Support: À la carte SESSIONS Partnership Our established treatment-session model, retaining the high-touch support that has always distinguished NeuroStar. Upfront: None Support: Full

Poised to Deliver Strong Growth While Improving Cash Flow FY 2026 Guidance Revenue $160M to $164M (+7% to +10% YoY) Gross Margin Between 48% and 50% Operating Expenses $91M - $96M excluding ~$4 million of non-cash stock-based compensation Cash Flow Cash Flow from Operations and Investing: $(10.5)M to $(14.5)M (As of August 11th, 2026)

($ in millions) (1) Stock-based compensation consists of expenses related to restricted stock units and performance based restricted stock units. We exclude these expenses from our non-GAAP financial measures because they are non-cash charges that we do not consider reflective of our core ongoing operational performance. While share-based compensation is a recurring expense and a key part of our employee retention strategy, excluding it allows management and investors to compare our operational profitability more consistently against prior periods and industry peers.   The following table presents the Company’s reconciliation between Operating Expenses and Operating Expenses less Stock Based Compensation. This adjusted guidance is based on assumptions that management believes are reasonable under the circumstances. However, they are not necessarily indicative of the Company’s future performance. Operating Expenses less Stock Based Compensation are projected Operating Expenses for the fiscal year 2026, less non-cash stock-based compensation. Reconciliation Bridge Operating Expense to Operating Expense less Non-Cash Stock-Based Compensation FY 2026 Guidance: Operating Expenses

Financial Overview

Worldwide Quarterly Revenue1 Q2 2026 Revenue of $41.6M, a 9% increase from Q2 2025 ($ in millions) ($ in millions) (1) Actual results as reported and filed with the SEC for Neuronetics (As Reported)

Results of Operations1 ($ in thousands) ($ in thousands) (1) Actual results as reported and filed with the SEC for Neuronetics except for adjusted EBITDA which is a Non-GAAP metric (As Reported) Three Months Ended June 30, 2025 2026 Revenues $38,108 $41,568 YOY Growth 9% Gross Profit $17,758 $21,223 Gross Margin 47% 51% Total Operating Expenses $25,816 $22,724 % of Revenues 68% 55% Loss from Operations ($8,058) ($1,501) % of Revenues -21% -4% Adjusted EBITDA ($5,624) $254 Net Loss ($10,120) ($3,439) Cash $17,469 $24,947

($ in thousands) Three Months Ended June 30, 2025 2026 Net Loss to STIM Shareholders’ ($10,120) ($3,439) Interest Expense, Net $1,781 $1,963 Depreciation and Amortization $901 $729 EBITDA ($7,438) ($747) Stock Based Compensation1 $1,814 $688 Restructuring2 $313 Adjusted EBITDA ($5,624) $254 (1) Stock-based compensation consists of expenses related to restricted stock units and performance based restricted stock units. We exclude these expenses from our non-GAAP financial measures because they are non-cash charges that we do not consider reflective of our core ongoing operational performance. While share-based compensation is a recurring expense and a key part of our employee retention strategy, excluding it allows management and investors to compare our operational profitability more consistently against prior periods and industry peers.   (2) Restructuring expense represents net costs incurred in connection with leadership workforce reductions, role eliminations, or organizational restructuring activities that are not expected to recur in the ordinary course of business. These costs have been added back to EBITDA because they are considered non-recurring and not reflective of the Company’s ongoing operating performance. Management believes excluding these expenses provides a more meaningful measure of normalized earnings and period-to-period operating comparability. . The following table presents the Company’s reconciliation between EBITDA and adjusted EBITDA. These pro forma results are based on assumptions that management believes are reasonable under the circumstances. However, they are not necessarily indicative of the Company’s future performance. Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) is defined as income (loss) before income taxes, excluding the following items: interest expense, depreciation, and amortization. Adjusted EBITDA (“Adjusted EBITDA”) is defined as EBITDA, excluding the following items: stock based compensation, loss on extinguishment of debt, and other items not considered indicative of the Company’s ongoing operational performance and expected to occur infrequently. Reconciliation Bridge EBITDA to Adjusted EBITDA

Financial Position ($ in thousands) ($ in thousands) Neuronetics, Inc. Supplemental Financial and Operating Information For the period ended March 31, 2026 2017 2018 2019 2020 2017 2021 2022 2023 2024 2025 2026 2019 2020 2021 2022 2023 2023 2024 2025 2026 Revenue ($ thousands) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY FY FY FY FY FY FY FY FY NeuroStar Capital (1) $1,051.820000000003 $1,927.3699999999997 $2,243.19 $2,990.2869999999994 $1,908.65 $3,267.7 $3,427.723 $4,337.75 $2,938.8229999999999 $4,034.659999999998 $4,264.321800000002 $4,958.7665800000004 $2,410.320000000002 $2,223.8835899999999 $2,438.3874999999998 $3,445.80141 $8,211.9290000000001 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $16,195.687760000001 $10,518.104500000001 #REF! $12,941.823 $12,941.823 $12,941.823 $12,941.823 YoY Change 0.76 0.65 0.54 0.47 0.53973908259764736 0.2345276494170212 0.24398388667929116 0.14316559967725206 -0.17993291872290362 -0.44872404417776013 -0.4281498363363665 -0.30510917293469386 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 0.25142244334511443 -0.35056141759057968 #REF! 0.56999999999999995 0.56999999999999995 0.56999999999999995 0.56999999999999995 Sales $1,876 $3,277 $3,538 $4,385 $2,451 $3,754 $2,969 $4,070.4648999999999 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $13,244.464899999999 $13,244.464899999999 $13,244.464899999999 $13,076 $13,076 $13,076 $13,076 YoY 1.3318827646177938 0.9477318833436239 0.32356153513523145 0.3612288385696758 0.306503198294243 0.1455599633811413 -0.16082532504239688 -7.1729783352337484E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 1.2883519424900403E-2 1.2883519424900403E-2 1.2883519424900403E-2 0.59231771244003695 0.59231771244003695 0.59231771244003695 0.59231771244003695 Sales-Type-Leases $0 $0 $0 $0 $450 $350 $1,283 $996 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $3,079 $3,079 $3,079 $0 $0 $0 $0 YoY nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm Other NeuroStar $32.35 $-9.65 $-,110.6 $-42.3 $37.573 $-69.5 $12.5 $-,107.69926 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $-,127.12626 $-,127.12626 $-,127.12626 $-,130.19999999999999 $-,130.19999999999999 $-,130.19999999999999 $-,130.19999999999999 YoY -0.41530508964719492 -1.2028674739320553 3.7153119737375082 -0.11580267558528445 0.16145285935084996 6.2020725388601035 -1.1130198915009042 1.5460817966903075 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -2.3607834101382341E-2 -2.3607834101382341E-2 -2.3607834101382341E-2 -5.1201879717093064 -5.1201879717093064 -5.1201879717093064 -5.1201879717093064 NeuroStar Operating Lease (2) $215 $293.95800000000003 $289 $234 $258 $181.13883999999999 $269 $231 $181.94399999999999 $187.08323999999999 $184.44399999999999 $176.66726 $155.417 $114.16689 $87.917000000000002 $79.167000000000002 $1,031.9580000000001 #REF! #REF! $30 $85 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $730.13850000000002 $436.66789000000006 $279 $939 $939 $939 $939 YoY Change 0.13 -0.38379346709393869 -6.9204152249134898E-2 -0.02 -0.29479069767441868 3.2816816095322165E-2 -0.3143345724907064 -0.23520666666666667 -0.14579760805522568 -0.38975351292825589 -0.52334041768775341 -0.5518864106456397 #REF! #REF! -0.65876906627842169 7.3679689769727164E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -0.22350933218443014 -0.40193827609419308 -0.36107049226816301 -0.1 -0.1 -0.1 -0.1 Other (3) $8 $241 $320.21749999999997 $282.85000000000002 $206 $120 $210.995 $185 $228.95 $407.25 $167.084 $278 $29 $0 $15 $95.5 $852.0675 #REF! #REF! $305 $217 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $1,081.2840000000001 $139.5 #REF! $722 $722 $722 $722 YoY Change NM -0.50207468879668049 -0.34108847892448091 -0.34594307937069124 0.11140776699029131 2.3937499999999998 -0.20811393634920261 0.50270270270270268 -0.87333478925529595 -1 -0.91022479710804149 -0.65647482014388492 #REF! 1 19.333333333333332 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 0.49867150846506236 -0.87098671579344555 #REF! -0.15324196733240025 -0.15324196733240025 -0.15324196733240025 -0.15324196733240025 Total U.S. NeuroStar Advanced Therapy System Revenues $1,274.820000000003 $2,462.3279999999995 $2,852.4075000000003 $3,507.1369999999993 $2,372.65 $3,568 $3,907.7179999999998 $4,753.75 $3,349.7169999999996 $4,628.3992399999997 $4,615.5601800000004 $5,413.4338400000006 $2,594.4490000000001 $2,338.504799999999 $2,541.3044999999997 $3,620.4684099999999 $10,095.9545 $1,755.2459999999999 $2,577.2649900000001 $2,611.58916 $2,815.2192999999997 $3,642.266999999999 $4,381.9099699999997 $3,934 $4,616 $3,850 $4,489 $3,597 $4,523.6000000000004 $3,310 $4,000 $4,108 $3,849 $2,846 $3,484 $3,508 $4,421 $3,203 $4,585.7 $18,007.110260000001 $11,094.272390000002 #REF! $16,575 $16,460 $16,459.599999999999 $15,267 $14,259 $7,788.7 YoY Change 0.8 0.42 0.38 0.37 0.41180410089983743 0.29719709641255587 0.18113952439761527 0.13877125216934005 -0.22547218167982541 -0.49484684471601459 -0.4494049690843811 -0.33120667638934342 -0.32346097379443584 0.1023136634757349 2.7656921868276729E-2 -0.22241572603584747 1.08 0.70021708555471407 0.50636250917812808 0.63965911998400982 5.7103727438351903E-2 2.4439121463739388E-2 -8.566344687341132E-2 -2.0017331022530227E-2 -0.14025974025974031 -0.10893294720427715 0.14206283013622456 -0.14912901229109565 -0.14018126888217519 -0.129 -0.14605647517039921 0.14861002857885164 0.1254392129304287 0.31621699196326047 -1 -1 0.23311033760186262 -0.38389490430098572 #REF! 0.7 -0.01 -0.01 -7.2456195776325005E-2 -6.6024759284731727E-2 -0.45376954905673605 Total U.S. Treatment Sessions Revenues $5,748.7510000000002 $7,386.4830000000002 $7,227.3850000000002 $8,023.9769999999999 $7,239.5487700000012 $8,920 $9,218 $9,909 $8,777.6730000000007 $10,847.351000000001 $10,251.888499999999 $11,243.30969 $8,193.4259999999995 $6,546.6486100000002 $9,083.3856099999994 $11,028.800499999999 $28,386.595999999998 $9,628.61 $10,801 $10,258.61579 $11,244.748890000001 $9,468.6990400000013 $11,294.537 $11,863.551890000002 $12,449.8 $10,643 $12,314 $13,060 $14,878 $12,988 $11,660 $13,326 $12,858 $9,612 $10,773 $10,543 $12,391 $9,122 $8,699.7000000000007 $41,120.22219 $34,852.260719999998 $41,932.974679999999 $45,077 $50,896 $50,895 $50,832 $43,319 $17,821.7 YoY Change 0.25932550740152105 0.20761125423290072 0.27542672764769005 0.23492377906865891 0.21246133963125424 0.21607073991031389 0.11215974180950306 0.13465634170955698 -6.6560579324383751E-2 -0.39647489880248188 -0.11397928196351337 -1.9078829625300497E-2 0.17516286837764827 0.64985180104236573 0.12938239445721389 1.9580405865533779E-2 -1.6607896674597833E-2 4.5693639477826231E-2 0.1564476273265325 0.10716567544444278 0.12401925069528863 9.026160169292452E-2 0.1008507503565188 0.19503927773940144 0.22033261298506068 -5.3110280980997238E-2 2.0367534456355196E-2 -0.13577093695389164 -0.25993224514936863 -7.6072041166380777E-2 -0.20883986192405823 -3.6319800902162025E-2 -5.0977944236371253E-2 -0.19245335561125032 -1 -1 0.16530796582310758 -0.15243014595199111 0.20316369193051309 7.0000000000000007E-2 0.13 0.13 -1.2378426171529844E-3 -0.14780059804847345 -0.58859391952722828 Total U.S. Clinic Revenues $324.08965000000001 $328.21771999999976 $341.90857000000085 $353.13183000000066 $359.29917999999998 $410 $392 $426 $418.36900000000003 $414.767 $426 $374 $390.17500000000001 $382.41500000000002 $404.24200000000002 $396.8 $1,347.3477700000012 $418.90800000000002 $431.11399999999998 $409.22012999999998 $496.05811999999997 $406.17700000000002 $455.12732 $446.00448 $447 $0 $0 $0 $0 $0 $0 $0 $4,445 $18,659 $23,024 $21,808 $23,486 $21,529 $26,891 $1,632.77601 $1,573.6320000000001 $1,754 $1,754 $0 $0 $4,445 $86,977 $48,420 YoY Change 0.10864132810165317 0.24917082478057639 0.14650533620727613 0.20634834871724594 0.16440288007336967 1.1626829268292616E-2 8.6734693877551061E-2 -0.1220657276995305 -6.739027031161493E-2 -7.8000419512642027E-2 -5.1075117370891987E-2 6.0962566844919852E-2 7.3641314794643531E-2 0.12734594615796957 1.2314727316805163E-2 0.25014647177419347 -3.0390921156912776E-2 5.5700626748377502E-2 8.9888906491476961E-2 -9.8895911632290168E-2 na na na na na na na 4.283689538807649 0.15381317326759203 0.16795517720639341 -1 -1 2.8844366729678717E-2 -3.6222978312867249E-2 0.12 0 0 na na 18.5673790776153 -0.44330110259033995 Total U.S. Other Revenues $324.08965000000001 $328.21771999999976 $341.90857000000085 $353.13183000000066 $359.29917999999998 $410 $392 $426 $418.36900000000003 $414.767 $426 $374 $390.17500000000001 $382.41500000000002 $404.24200000000002 $396.8 $1,347.3477700000012 $418.90800000000002 $431.11399999999998 $409.22012999999998 $496.05811999999997 $406.17700000000002 $455.12732 $446.00448 $447 $471 $486 $554 $470 $495 $470 $488 $490 $366 $375 $389 $363 $372 $404.1 $1,632.77601 $1,573.6320000000001 $1,754 $1,754 $1,980 $1,981 $1,943 $1,493 $776.1 YoY Change 0.10864132810165317 0.24917082478057639 0.14650533620727613 0.20634834871724594 0.16440288007336967 1.1626829268292616E-2 8.6734693877551061E-2 -0.1220657276995305 -6.739027031161493E-2 -7.8000419512642027E-2 -5.1075117370891987E-2 6.0962566844919852E-2 7.3641314794643531E-2 0.12734594615796957 1.2314727316805163E-2 0.25014647177419347 -3.0390921156912776E-2 5.5700626748377502E-2 8.9888906491476961E-2 -9.8895911632290168E-2 0.15959298532413202 6.7833062625201279E-2 0.24213998926647551 5.1454138702460961E-2 5.0955414012738842E-2 -3.2921810699588439E-2 -0.11913357400722024 4.2553191489361764E-2 -0.26060606060606062 -0.2021276595744681 -0.20286885245901642 -0.25918367346938775 1.6393442622950838E-2 7.7600000000000113E-2 -1 -1 2.8844366729678717E-2 -3.6222978312867249E-2 0.12 0 0.13 0.13 -1.9182231196365418E-2 -0.23160061760164696 -0.4801741460147354 Total U.S. Revenues $7,346.9226500000004 $10,177.2872 $10,421.701070000001 $11,884.24583 $9,972.814600000012 $12,897.737710000001 $13,518.360389999998 $15,089 $12,545.759 $15,890 $15,293.75468 $17,030 $11,177.5 $9,267.1140899999991 $12,028.93211 $15,046.68909999998 $39,829.898270000005 $11,801.763999999999 $13,809.378989999999 $13,280 $14,556.26310000001 $13,516.902740000001 $16,131.57429 $16,243.556370000002 $17,512.8 $14,964 $17,289 $17,211 $19,871.599999999999 $16,793 $16,130 $17,922 $21,642 $31,483 $37,656 $36,248 $40,661 $34,226 $40,580.5 $60,760.108459999996 $47,519.165110000002 $53,447.169300000001 $63,406 $69,336 $69,335.600000000006 $72,487 $,146,048 $74,806.5 YoY Change 0.35 0.26 0.29713568823366732 0.26966407594077846 0.25808829884949591 0.23199900302515908 0.13133207273519076 0.12863675525217055 -0.10909734516660174 -0.41679584078036502 -0.21347423430751666 -0.11649624721080454 5.5892565569626962E-2 0.49014880532241301 0.10400490073095936 -3.2569477312064055E-2 0.14532901522179253 0.16816073349001481 0.22315936521084345 0.20313055411068426 0.10705834671116365 7.1749085934997181E-2 5.9558609454931632E-2 0.1346900552738568 0.12222667735899484 -6.7036844236219584E-2 4.1310789611295196E-2 8.9091970450291047E-2 0.87476924909188347 1.3345319280843149 1.0225421269947552 0.87880048054708437 8.7126385668456097E-2 7.7663586148289721E-2 -1 -1 0.18034051052656319 -0.2179216542827086 0.12474975467850768 0.19 0.09 0.09 4.5451398704273061E-2 1.0148164498461791 -0.48779510845749341 Total International Revenues $132.1 $83.5 $92.5 $272.23500000000001 $179.732 $354 $219.30699999999999 $545.61800000000005 $182 $682 $706.37199999999996 $325.548 $298.822 $473.91300000000001 $418.98599999999999 $532.87300000000005 $580.33500000000004 $486.28800000000001 $393.93900000000002 $519 $466.178 $663.74939000000006 $197.87039000000001 $253.36739 $686 $576 $321 $673.3 $442 $624 $320 $608 $851 $492 $452 $1,049 $1,115.8 $228 $987.6 $1,895.7699999999998 $1,724.5940000000001 $1,865.4050000000002 $1,800 $2,012 $2,012.3 $2,402 $3,108.8 $1,215.5999999999999 YoY Change 0.36057532172596529 3.25 1.3708864864864863 1.004216944918912 1.2618787973204482E-2 0.92655367231638408 2.2209277405645969 -0.40334079887393748 0.6418791208791208 -0.30511290322580642 -0.40684794980548489 0.63684925110889967 0.62735006124047099 -0.16875249254610025 0.23870487319385369 -0.12516115472166922 0.36493063781133817 -0.49771312309773852 -0.51181620423892094 0.4715409135566242 -0.13220259230671394 0.62227405525404778 1.6574059116289588 -0.35568513119533529 8.3333333333333259E-2 -3.1152647975077885E-3 -9.6984999257388904E-2 0.92533936651583715 -0.21153846153846156 0.41250000000000009 0.72532894736842102 0.31116333725029377 -0.53658536585365857 1.1849557522123892 -1 -1 0.45904444083572726 -9.0293653766015725E-2 8.1648782264115649E-2 -0.03 0.12 0.12 0.1936589971674203 0.29425478767693591 -0.60898095728255286 Total Revenues $7,479.226500000008 $10,260.52872 $10,514.201070000001 $12,156.48083 $10,151.813460000001 $13,252.403710000001 $13,737 $15,634.618 $12,728.371999999999 $16,571.754240000002 $16,000.126679999999 $17,355.547999999999 $11,476 $9,741 $12,447.918110000001 $15,578.941909999998 $40,410.233270000004 $12,288.52 $14,203.31799 $13,799 $15,022.204310000001 $14,180.652129999999 $16,329.445 $16,497.5124 $18,198.8 $15,540 $17,610 $17,884.3 $20,313.599999999999 $17,417 $16,450 $18,530 $22,493 $31,975 $38,108 $37,297 $41,776.800000000003 $34,454 $41,568.1 $0 $0 $62,655.878459999993 $49,243.860019999993 $55,312 $65,206 $71,348 $71,347.899999999994 $74,890 $,149,156.79999999999 $76,022.100000000006 YoY Change 0.35 0.29159072321177626 0.30651867018175616 0.28611382016221221 0.2538027860886245 0.25047158256243618 0.16474679187595531 0.11007176510484618 -9.8392158871535185E-2 -0.41219258631728306 -0.22201127785070751 -0.10236531223329859 7.0760892296967581E-2 0.45809649830612864 0.10853878359905123 -3.5736547656207041E-2 0.15401954109569194 0.14969227693817189 0.19555854772084924 0.21146002440436762 9.5859334079863689E-2 7.8419995290715638E-2 8.4060406585904301E-2 0.11620546409653376 0.12078507078507084 -6.5871663827370863E-2 3.6104292591826459E-2 0.10728772841839951 0.83585003157834303 1.3165957446808512 1.0127900701565031 0.857324500955853 7.7529319781078909E-2 9.0797207935341628E-2 -1 -1 0.18720207332511252 -0.21405842148653842 0.12322632664327049 0.18 0.09 0.09 4.9645469593358804E-2 0.99167846174389096 -0.490320924020896 2018 2019 2020 2020 2020 2020 2021 2020 2020 2020 2022 2020 2020 2020 2023 2020 2020 2020 2024 2025 2026 2019 2020 2021 2022 2023 2023 2024 2025 2025 Supplemental Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY FY FY FY FY FY FY FY FY Active Installed Base Active Installed Base - Beginning of Period 647 671 690 725 752 781 816 858 907 931 976 1032 #REF! #REF! #REF! #REF! 647 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 907 #REF! #REF! 752 752 752 752 Active Installed Base - End of Period 671 690 725 752 781 816 858 907 931 976 1032 1085 #REF! #REF! #REF! #REF! 752 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 1085 #REF! 752 907 907 907 907 Total U.S. NeuroStar Systems Shipped 14 25 30 40 24 43 47 61 43 61 68 78 #REF! #REF! #REF! #REF! 109 23 36 40 48 46 59 50 58 49 54 43 59 41 49 49 46 31 41 40 49 34 37 40 49 250 #REF! 147 213 204 205 185 161 499 YoY Change 0.71428571428571419 0.72 0.56666666666666665 0.52499999999999991 0.79166666666666674 0.41860465116279078 0.44680851063829796 0.27868852459016402 #REF! #REF! #REF! #REF! -0.39473684210526316 2.857142857142847E-2 2.564102564102555E-2 -0.11111111111111116 1 0.63888888888888884 0.25 0.20833333333333326 6.5217391304347894E-2 -8.4745762711864403E-2 -0.14000000000000001 1.7241379310344751E-2 -0.16326530612244894 -9.259259259259256E-2 0.13953488372093026 -0.22033898305084743 -0.24390243902439024 -0.16326530612244894 -0.18367346938775508 6.5217391304347894E-2 9.6774193548387011E-2 -9.7560975609756073E-2 0 0 #REF! #REF! #REF! 0.44897959183673503 -0.04 -0.04 -9.7560975609756073E-2 -0.12972972972972974 2.0993788819875778 Active Sites Active Sites - Beginning of Period 0 615 637 679 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 916 900 919 923 959 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1081 1001 1044 1081 1081 1001 1044 1081 #REF! #REF! 916 959 959 959 959 Active Sites - End of Period 615 637 679 707 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 900 919 923 959 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1101 #REF! #REF! 0 1101 1101 1101 1101 NeuroStar System Average Selling Price ($) (4) $75,077.285714285739 $77,094.799999999988 $74,773 $74,757.174999999988 $79,527.83333333343 $75,993.23255813954 $72,930.276595744683 $71,110.655737704918 $68,344.72093023255 $66,132.229508196717 $62,706.355588235296 $63,573.930512820516 #REF! #REF! #REF! #REF! $75,338.798165137618 $69,101.260869565216 $67,801.336111111115 $56,914.728999999999 $52,358.735416666663 $75,760 $72,410.547796610161 $72,755.848399999988 $0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $0 $0 $0 $0 $64,782.75104000001 $60,759.732394366198 $60,759.732394366198 $60,759.732394366198 $60,759.732394366198 YoY Change 5.926955905121245E-2 -1.4291194012904018E-2 -2.4644235275504744E-2 -4.8778184332073482E-2 -0.14061074459666201 -0.12975919795193602 -0.14018760773637229 -0.10598587717548236 #REF! #REF! #REF! #REF! #DIV/0! #DIV/0! #REF! #REF! #DIV/0! #DIV/0! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #DIV/0! #DIV/0! #REF! #REF! #REF! #REF! #REF! -0.19351338388508776 -0.19351338388508776 -0.19351338388508776 -0.19351338388508776 Sequential Change 6.3805358259369171E-2 -4.4438446996812098E-2 -4.0302997944419161E-2 -2.4950143383193124E-2 -3.8896207309276565E-2 -3.237252843997096E-2 -5.1803393677160137E-2 1.3835518209385222E-2 #REF! #REF! #REF! #REF! #REF! #DIV/0! #REF! #REF! #REF! #DIV/0! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #DIV/0! #REF! #REF! #REF! 0 Average Revenue Per Active Site ($) (1) $8,885.2411128284384 $11,008.171385991058 $10,474.471014492754 $11,067.55448275862 $9,627.595345744696 $11,421.254801536492 $11,296.568627450981 $11,548.951048951049 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $43,874.182380216385 $10,511.582969432315 $12,001.111111111111 $11,162.802818280739 $12,182.826533044421 $9,873.5130761209602 $11,280 $11,364 $11,516.928769657725 $9,666.6666666666661 $11,391.304347826088 $11,916.58394160586 $13,236.654804270464 $11,299.808595789107 $10,000 $11,390 $11,027.444253859348 $8,362.6239777275096 $9,239.2795883361923 $11,390 $10,626.929674099487 YoY Change 8.3488834160617253E-2 3.7525162087421959E-2 7.8485835878561394E-2 4.3496200261978757E-2 NA #REF! #REF! #REF! #REF! #REF! #REF! #REF! 0.11614813917964395 0.62052110235716817 9.2514634028795673E-2 .4% -6.0701598909209231E-2 -6.0087028978798251E-2 1.8023894625261105E-2 -5.4658724851784579E-2 -2.0949626324448856E-2 9.8674067221709016E-3 4.8579584139438969E-2 0.14932158295043862 1.756081186977676E-3 -0.12002815909890885 -1.1021060579286424E-2 -4.2501306171829678E-2 -0.13490096782129202 -0.18891820407735727 -4.4147013782542266E-2 -0.10818415598675069 Use Total Systems Recognized from the Q or K #DIV/0! (1) = Total U.S. Treatment Session Revenue / Active Sites (End of Prior Period) Three Months EndedJune 30, 2025 2026 Revenues $38,108 $41,568 YOY Growth 9.0794583814422167E-2 Gross Profit 17758 21223 Gross Margin 0.46599139288338409 0.5105610084680523 Operating Expenses: Sales and Marketing % of Revenues 0 0 General and Administrative % of Revenues 0 0 Research and Development % of Revenues 0 0 Total Operating Expenses 25816 22724 Loss from Operations $-8,058 $-1,501 ($ in thousands) % of Revenues -0.21145166369266297 -3.610950731331794E-2 0.67744305657604698 0.54667051578137027 As of June 30, 2026 Cash and Cash Equivalents $19,197 enter Restricted Cash $5,750 Total Cash $24,947 calculates calculates Total Current Assets $53,230 calculates Total Assets $,131,529 enter Total Current Liabilities $28,309 11703 Long-Term Debt, net $61,519 0.7530888030888031 Total Liabilities $,109,889 enter Accumulated Deficit $-,473,151 enter Total Stockholders’ Equity $17,850 $,127,739 $3,790 $,131,529 2017 2018 2019 2020 2021 2022 2022 2022 2022 UNIT SALES / ACTIVE SITES 1Q-17 2Q-17 3Q-17 4Q-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-21 Q3-21 Q4-21 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Don’t update Total NeuroStar Units (Capital Sales, Sales Type Leases, Operating Leases) (1) 20 29 32 42 30 47 48 65 43 61 68 78 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 46 59 50 58 0 49 54 43 59 0 31 41 40 49 0 250 YoY D 0.5 0.6206896551724137 0.5 0.54761904761904767 0.43333333333333335 0.2978723404255319 0.41666666666666674 0.19999999999999996 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -1 -0.16949152542372881 8.0000000000000071E-2 -0.25862068965517238 #DIV/0! -1 -0.42592592592592593 -4.6511627906976716E-2 -0.32203389830508478 #DIV/0! -1 5.0975609756097562 Beginning Active Installed Base 0 671 690 725 752 781 816 858 907 931 976 1032 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Ending Active Installed Base 671 690 725 752 781 816 858 907 931 976 1032 1085 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! YoY D 0.16393442622950816 0.18260869565217397 0.18344827586206902 0.2061170212765957 0.19206145966709354 0.19607843137254899 0.2027972027972027 0.25137816979051819 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Net Active Installed Base Change 24 19 35 27 29 35 42 49 24 45 56 53 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! YoY D 0.20833333333333326 0.84210526315789469 0.19999999999999996 0.81481481481481488 -0.17241379310344829 0.28571428571428581 0.33333333333333326 8.163265306122458E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Active Sites (End of Period) 615 637 679 707 737 778 833 870 #REF! #REF! #REF! #REF! 900 919 923 959 YoY D 0.1983739837398375 0.22135007849293564 0.22680412371134029 0.23055162659123063 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -100.0% -100.0% -100.0% -100.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! Inactive Systems (Calculation) (2) -4 10 -3 15 -1 -12 -6 -16 -19 -16 -12 -25 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Inactive System Churn % (Calculation) (3) -0.1% -1.5% -0.7% -1.9% -2.0948180815876516E-2 -1.7185821697099892E-2 -1.2295081967213115E-2 -2.4224806201550399E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! (1) = Includes all active systems placed during the period. (2) = Calculation: (Ending Installed Base - Beginning Installed Base) - Total NeuroStar Units (3) = Calculation: Inactive Systems / Ending of Prior Period Installed Base 2017 2018 2019 2020 2021 2022 2022 2022 2022 NeuroStar REVENUE 1Q-17 2Q-17 3Q-17 4Q-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-21 Q3-21 Q4-21 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Don’t update Total U.S. NeuroStar Revenue ($000) $1,321.41 $2,509.8959999999997 $2,828.9520000000002 $3,459.297 $2,373 $3,568.15 $3,908 $4,754 $3,350 $4,628 $4,616 $5,413 #REF! #REF! #REF! #REF! #REF! #REF! $2,612 $2,815 $3,642.266999999999 $4,381.9099699999997 $3,934 $4,616 $0 $3,850 $4,489 $3,597 $4,523.6000000000004 $0 $2,846 $3,484 $3,508 $4,421 $0 $18,007.110260000001 YoY D 0.79580902218085225 0.42163260947864001 0.38143029644900284 0.37426766189777871 0.41171512852928771 0.29703067415887774 0.18116683725690885 0.13862010938157332 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 1.08 #REF! 0.50612557427258809 0.63978685612788633 1.08 -0.12138769934609128 0.14107778342653798 -0.22075389948006929 1.08 -1 -0.36600579193584315 -3.1415068112315869E-2 1.08 #DIV/0! -1 4.1685161481056259 U.S. NeuroStar Capital Revenue ($000) (1) $1,083.820000000001 $1,974.9379999999999 $2,219.7345 $2,942.4469999999997 $1,908.6499999999999 $3,267.65 $3,427.6 $4,337.7 $2,938.5729999999999 $4,034.599999999995 $4,264 $4,958.8 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 $16,195.687760000001 YoY D 0.76223960882001518 0.65455826967732667 0.54414863579405548 0.47418118321247604 0.53960809996594405 0.23454470338010469 0.24401913875598091 0.14318648131498279 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! U.S. NeuroStar Operating Lease Revenue ($000) (2) $229.8 $293.95800000000003 $289 $234 $258 $181 $269 $231 $182 $187 $184 $176.7 #REF! #REF! #REF! #REF! #REF! #REF! $30 $85 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 $730.13850000000002 YoY D 0.13 -0.38426577946509366 -6.9204152249134898E-2 -0.02 -0.29457364341085268 3.3149171270718147E-2 -0.31 -0.23506493506493509 #REF! #REF! #REF! #REF! -0.3 #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! U.S. NeuroStar Other ($000) (3) $8 $241 $320.21749999999997 $282.85000000000002 $206 $119.5 $210.995 $185 $228.95 $407.25 $167.084 $278 #REF! #REF! #REF! #REF! #REF! #REF! $305 $217 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 $1,081.2840000000001 YoY D NM -0.50414937759336098 -0.34108847892448091 -0.34594307937069124 0.11140776699029131 2.39 -0.20811393634920261 0.50270270270270268 #REF! #REF! #REF! #REF! #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 (1) = Revenue includes NeuroStar System Capital Sales and Sales Type Leases (2) = Revenue derived from Operating Lease revenue amortization during the period (3) = Revenue derived from Treatment Coils in U.S. 2017 2018 2019 2020 2021 2022 2023 2024 2025 Treatment Session REVENUE 1Q-17 2Q-17 3Q-17 4Q-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Update/Unhide Total U.S. Treatment Session Revenues ($000) $5,749.6779800000004 $7,388.1369999999997 $7,228.5863399999998 $8,025.3639999999996 $7,239.5479999999998 $8,919.991 $9,218 $9,909 $8,777.6730000000007 $10,847.352000000001 $10,251.888000000001 $11,243 #REF! #REF! #REF! #REF! #REF! $10,801 #REF! #REF! $9,468.6990400000013 $11,294.537 $11,863.551890000002 $12,449.8 $10,643 $12,314 $13,060 $14,878 $9,612 $10,773 $10,543 $12,391 $0 $41,120.22219 $0 $34,852.260719999998 YoY D 0.26 0.20733968522781865 0.27521476073287099 0.2347103508326851 0.21246146858892301 0.21607207899649228 0.11215968756780215 0.13462508830356246 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 4.5693639477826231E-2 #REF! #REF! 0.12401925069528863 9.026160169292452E-2 0.1008507503565188 0.19503927773940144 -9.6871182937141809E-2 -0.12514211466623359 -0.19272588055130169 -0.16715956445758839 -1 2.8169704065719854 -1 1.81270766846905 Active Sites(End of Period) 0 671 690 725 615 637 679 707 737 778 833 870 #REF! #REF! #REF! #REF! 900 919 923 959 0 1001 1044 1081 1101 0 1001 1044 1081 1101 0 1001 1044 1081 1101 0 Average Revenue per Active Site ($000) (1) $8.8866738485316894 $11.010636363636364 $10.476212086956522 $11.069467586206896 $0 $14.504065040650406 $14.470957613814758 $14.593519882179676 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $10.511582969432315 $12.001111111111111 $11.16280281828074 $12.182826533044421 $9.8735130761209611 $11.28 $11.364000000000001 $11.516928769657724 $9.6666666666666661 $11.391304347826088 $11.916058394160585 $13.236654804270463 $8.3626239777275089 $9.239279588336192 $11.39 $10,626.929674099487 $0 $0 $0 $0 YoY D 8.3314035681520959E-2 3.7291842237985096E-2 7.8306599149118972E-2 4.3315855890089239E-2 NM #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -6.0701598909209099E-2 -6.0087028978798328E-2 1.8023894625261182E-2 -5.4658724851784697E-2 -2.0949626324448987E-2 9.8674067221709624E-3 4.8579584139438914E-2 0.14932158295043862 -0.13490096782129213 -0.18891820407735724 -4.414701378254212E-2 801.84103734963185 -1 -1 -1 -1 (1) = Total Treatment Session Revenue / Active Sites (Ending of Prior Quarter) Q1 2023 15.5 Q2 2023 17.600000000000001 Q3 2023 17.899999999999999 Q4 2023 20.3 Q1 2024 17.399999999999999 Q2 2024 16.5 Q3 2024 18.5 Q4 2024 22.5 Q1 2025 32 Q2 2025 37 Neuronetics, Inc. Supplemental Financial and Operating Information For the period ended March 31, 2026 2017 2018 2019 2020 2017 2021 2022 2023 2024 2025 2026 2019 2020 2021 2022 2023 2023 2024 2025 2026 Revenue ($ thousands) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY FY FY FY FY FY FY FY FY NeuroStar Capital (1) $1,051.820000000003 $1,927.3699999999997 $2,243.19 $2,990.2869999999994 $1,908.65 $3,267.7 $3,427.723 $4,337.75 $2,938.8229999999999 $4,034.659999999998 $4,264.321800000002 $4,958.7665800000004 $2,410.320000000002 $2,223.8835899999999 $2,438.3874999999998 $3,445.80141 $8,211.9290000000001 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $16,195.687760000001 $10,518.104500000001 #REF! $12,941.823 $12,941.823 $12,941.823 $12,941.823 YoY Change 0.76 0.65 0.54 0.47 0.53973908259764736 0.2345276494170212 0.24398388667929116 0.14316559967725206 -0.17993291872290362 -0.44872404417776013 -0.4281498363363665 -0.30510917293469386 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 0.25142244334511443 -0.35056141759057968 #REF! 0.56999999999999995 0.56999999999999995 0.56999999999999995 0.56999999999999995 Sales $1,876 $3,277 $3,538 $4,385 $2,451 $3,754 $2,969 $4,070.4648999999999 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $13,244.464899999999 $13,244.464899999999 $13,244.464899999999 $13,076 $13,076 $13,076 $13,076 YoY 1.3318827646177938 0.9477318833436239 0.32356153513523145 0.3612288385696758 0.306503198294243 0.1455599633811413 -0.16082532504239688 -7.1729783352337484E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 1.2883519424900403E-2 1.2883519424900403E-2 1.2883519424900403E-2 0.59231771244003695 0.59231771244003695 0.59231771244003695 0.59231771244003695 Sales-Type-Leases $0 $0 $0 $0 $450 $350 $1,283 $996 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $3,079 $3,079 $3,079 $0 $0 $0 $0 YoY nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm nm Other NeuroStar $32.35 $-9.65 $-,110.6 $-42.3 $37.573 $-69.5 $12.5 $-,107.69926 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $-,127.12626 $-,127.12626 $-,127.12626 $-,130.19999999999999 $-,130.19999999999999 $-,130.19999999999999 $-,130.19999999999999 YoY -0.41530508964719492 -1.2028674739320553 3.7153119737375082 -0.11580267558528445 0.16145285935084996 6.2020725388601035 -1.1130198915009042 1.5460817966903075 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -2.3607834101382341E-2 -2.3607834101382341E-2 -2.3607834101382341E-2 -5.1201879717093064 -5.1201879717093064 -5.1201879717093064 -5.1201879717093064 NeuroStar Operating Lease (2) $215 $293.95800000000003 $289 $234 $258 $181.13883999999999 $269 $231 $181.94399999999999 $187.08323999999999 $184.44399999999999 $176.66726 $155.417 $114.16689 $87.917000000000002 $79.167000000000002 $1,031.9580000000001 #REF! #REF! $30 $85 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $730.13850000000002 $436.66789000000006 $279 $939 $939 $939 $939 YoY Change 0.13 -0.38379346709393869 -6.9204152249134898E-2 -0.02 -0.29479069767441868 3.2816816095322165E-2 -0.3143345724907064 -0.23520666666666667 -0.14579760805522568 -0.38975351292825589 -0.52334041768775341 -0.5518864106456397 #REF! #REF! -0.65876906627842169 7.3679689769727164E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -0.22350933218443014 -0.40193827609419308 -0.36107049226816301 -0.1 -0.1 -0.1 -0.1 Other (3) $8 $241 $320.21749999999997 $282.85000000000002 $206 $120 $210.995 $185 $228.95 $407.25 $167.084 $278 $29 $0 $15 $95.5 $852.0675 #REF! #REF! $305 $217 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $1,081.2840000000001 $139.5 #REF! $722 $722 $722 $722 YoY Change NM -0.50207468879668049 -0.34108847892448091 -0.34594307937069124 0.11140776699029131 2.3937499999999998 -0.20811393634920261 0.50270270270270268 -0.87333478925529595 -1 -0.91022479710804149 -0.65647482014388492 #REF! 1 19.333333333333332 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 0.49867150846506236 -0.87098671579344555 #REF! -0.15324196733240025 -0.15324196733240025 -0.15324196733240025 -0.15324196733240025 Total U.S. NeuroStar Advanced Therapy System Revenues $1,274.820000000003 $2,462.3279999999995 $2,852.4075000000003 $3,507.1369999999993 $2,372.65 $3,568 $3,907.7179999999998 $4,753.75 $3,349.7169999999996 $4,628.3992399999997 $4,615.5601800000004 $5,413.4338400000006 $2,594.4490000000001 $2,338.504799999999 $2,541.3044999999997 $3,620.4684099999999 $10,095.9545 $1,755.2459999999999 $2,577.2649900000001 $2,611.58916 $2,815.2192999999997 $3,642.266999999999 $4,381.9099699999997 $3,934 $4,616 $3,850 $4,489 $3,597 $4,523.6000000000004 $3,310 $4,000 $4,108 $3,849 $2,846 $3,484 $3,508 $4,421 $3,203 $4,585.7 $18,007.110260000001 $11,094.272390000002 #REF! $16,575 $16,460 $16,459.599999999999 $15,267 $14,259 $7,788.7 YoY Change 0.8 0.42 0.38 0.37 0.41180410089983743 0.29719709641255587 0.18113952439761527 0.13877125216934005 -0.22547218167982541 -0.49484684471601459 -0.4494049690843811 -0.33120667638934342 -0.32346097379443584 0.1023136634757349 2.7656921868276729E-2 -0.22241572603584747 1.08 0.70021708555471407 0.50636250917812808 0.63965911998400982 5.7103727438351903E-2 2.4439121463739388E-2 -8.566344687341132E-2 -2.0017331022530227E-2 -0.14025974025974031 -0.10893294720427715 0.14206283013622456 -0.14912901229109565 -0.14018126888217519 -0.129 -0.14605647517039921 0.14861002857885164 0.1254392129304287 0.31621699196326047 -1 -1 0.23311033760186262 -0.38389490430098572 #REF! 0.7 -0.01 -0.01 -7.2456195776325005E-2 -6.6024759284731727E-2 -0.45376954905673605 Total U.S. Treatment Sessions Revenues $5,748.7510000000002 $7,386.4830000000002 $7,227.3850000000002 $8,023.9769999999999 $7,239.5487700000012 $8,920 $9,218 $9,909 $8,777.6730000000007 $10,847.351000000001 $10,251.888499999999 $11,243.30969 $8,193.4259999999995 $6,546.6486100000002 $9,083.3856099999994 $11,028.800499999999 $28,386.595999999998 $9,628.61 $10,801 $10,258.61579 $11,244.748890000001 $9,468.6990400000013 $11,294.537 $11,863.551890000002 $12,449.8 $10,643 $12,314 $13,060 $14,878 $12,988 $11,660 $13,326 $12,858 $9,612 $10,773 $10,543 $12,391 $9,122 $8,699.7000000000007 $41,120.22219 $34,852.260719999998 $41,932.974679999999 $45,077 $50,896 $50,895 $50,832 $43,319 $17,821.7 YoY Change 0.25932550740152105 0.20761125423290072 0.27542672764769005 0.23492377906865891 0.21246133963125424 0.21607073991031389 0.11215974180950306 0.13465634170955698 -6.6560579324383751E-2 -0.39647489880248188 -0.11397928196351337 -1.9078829625300497E-2 0.17516286837764827 0.64985180104236573 0.12938239445721389 1.9580405865533779E-2 -1.6607896674597833E-2 4.5693639477826231E-2 0.1564476273265325 0.10716567544444278 0.12401925069528863 9.026160169292452E-2 0.1008507503565188 0.19503927773940144 0.22033261298506068 -5.3110280980997238E-2 2.0367534456355196E-2 -0.13577093695389164 -0.25993224514936863 -7.6072041166380777E-2 -0.20883986192405823 -3.6319800902162025E-2 -5.0977944236371253E-2 -0.19245335561125032 -1 -1 0.16530796582310758 -0.15243014595199111 0.20316369193051309 7.0000000000000007E-2 0.13 0.13 -1.2378426171529844E-3 -0.14780059804847345 -0.58859391952722828 Total U.S. Clinic Revenues $324.08965000000001 $328.21771999999976 $341.90857000000085 $353.13183000000066 $359.29917999999998 $410 $392 $426 $418.36900000000003 $414.767 $426 $374 $390.17500000000001 $382.41500000000002 $404.24200000000002 $396.8 $1,347.3477700000012 $418.90800000000002 $431.11399999999998 $409.22012999999998 $496.05811999999997 $406.17700000000002 $455.12732 $446.00448 $447 $0 $0 $0 $0 $0 $0 $0 $4,445 $18,659 $23,024 $21,808 $23,486 $21,529 $26,891 $1,632.77601 $1,573.6320000000001 $1,754 $1,754 $0 $0 $4,445 $86,977 $48,420 YoY Change 0.10864132810165317 0.24917082478057639 0.14650533620727613 0.20634834871724594 0.16440288007336967 1.1626829268292616E-2 8.6734693877551061E-2 -0.1220657276995305 -6.739027031161493E-2 -7.8000419512642027E-2 -5.1075117370891987E-2 6.0962566844919852E-2 7.3641314794643531E-2 0.12734594615796957 1.2314727316805163E-2 0.25014647177419347 -3.0390921156912776E-2 5.5700626748377502E-2 8.9888906491476961E-2 -9.8895911632290168E-2 na na na na na na na 4.283689538807649 0.15381317326759203 0.16795517720639341 -1 -1 2.8844366729678717E-2 -3.6222978312867249E-2 0.12 0 0 na na 18.5673790776153 -0.44330110259033995 Total U.S. Other Revenues $324.08965000000001 $328.21771999999976 $341.90857000000085 $353.13183000000066 $359.29917999999998 $410 $392 $426 $418.36900000000003 $414.767 $426 $374 $390.17500000000001 $382.41500000000002 $404.24200000000002 $396.8 $1,347.3477700000012 $418.90800000000002 $431.11399999999998 $409.22012999999998 $496.05811999999997 $406.17700000000002 $455.12732 $446.00448 $447 $471 $486 $554 $470 $495 $470 $488 $490 $366 $375 $389 $363 $372 $404.1 $1,632.77601 $1,573.6320000000001 $1,754 $1,754 $1,980 $1,981 $1,943 $1,493 $776.1 YoY Change 0.10864132810165317 0.24917082478057639 0.14650533620727613 0.20634834871724594 0.16440288007336967 1.1626829268292616E-2 8.6734693877551061E-2 -0.1220657276995305 -6.739027031161493E-2 -7.8000419512642027E-2 -5.1075117370891987E-2 6.0962566844919852E-2 7.3641314794643531E-2 0.12734594615796957 1.2314727316805163E-2 0.25014647177419347 -3.0390921156912776E-2 5.5700626748377502E-2 8.9888906491476961E-2 -9.8895911632290168E-2 0.15959298532413202 6.7833062625201279E-2 0.24213998926647551 5.1454138702460961E-2 5.0955414012738842E-2 -3.2921810699588439E-2 -0.11913357400722024 4.2553191489361764E-2 -0.26060606060606062 -0.2021276595744681 -0.20286885245901642 -0.25918367346938775 1.6393442622950838E-2 7.7600000000000113E-2 -1 -1 2.8844366729678717E-2 -3.6222978312867249E-2 0.12 0 0.13 0.13 -1.9182231196365418E-2 -0.23160061760164696 -0.4801741460147354 Total U.S. Revenues $7,346.9226500000004 $10,177.2872 $10,421.701070000001 $11,884.24583 $9,972.814600000012 $12,897.737710000001 $13,518.360389999998 $15,089 $12,545.759 $15,890 $15,293.75468 $17,030 $11,177.5 $9,267.1140899999991 $12,028.93211 $15,046.68909999998 $39,829.898270000005 $11,801.763999999999 $13,809.378989999999 $13,280 $14,556.26310000001 $13,516.902740000001 $16,131.57429 $16,243.556370000002 $17,512.8 $14,964 $17,289 $17,211 $19,871.599999999999 $16,793 $16,130 $17,922 $21,642 $31,483 $37,656 $36,248 $40,661 $34,226 $40,580.5 $60,760.108459999996 $47,519.165110000002 $53,447.169300000001 $63,406 $69,336 $69,335.600000000006 $72,487 $,146,048 $74,806.5 YoY Change 0.35 0.26 0.29713568823366732 0.26966407594077846 0.25808829884949591 0.23199900302515908 0.13133207273519076 0.12863675525217055 -0.10909734516660174 -0.41679584078036502 -0.21347423430751666 -0.11649624721080454 5.5892565569626962E-2 0.49014880532241301 0.10400490073095936 -3.2569477312064055E-2 0.14532901522179253 0.16816073349001481 0.22315936521084345 0.20313055411068426 0.10705834671116365 7.1749085934997181E-2 5.9558609454931632E-2 0.1346900552738568 0.12222667735899484 -6.7036844236219584E-2 4.1310789611295196E-2 8.9091970450291047E-2 0.87476924909188347 1.3345319280843149 1.0225421269947552 0.87880048054708437 8.7126385668456097E-2 7.7663586148289721E-2 -1 -1 0.18034051052656319 -0.2179216542827086 0.12474975467850768 0.19 0.09 0.09 4.5451398704273061E-2 1.0148164498461791 -0.48779510845749341 Total International Revenues $132.1 $83.5 $92.5 $272.23500000000001 $179.732 $354 $219.30699999999999 $545.61800000000005 $182 $682 $706.37199999999996 $325.548 $298.822 $473.91300000000001 $418.98599999999999 $532.87300000000005 $580.33500000000004 $486.28800000000001 $393.93900000000002 $519 $466.178 $663.74939000000006 $197.87039000000001 $253.36739 $686 $576 $321 $673.3 $442 $624 $320 $608 $851 $492 $452 $1,049 $1,115.8 $228 $987.6 $1,895.7699999999998 $1,724.5940000000001 $1,865.4050000000002 $1,800 $2,012 $2,012.3 $2,402 $3,108.8 $1,215.5999999999999 YoY Change 0.36057532172596529 3.25 1.3708864864864863 1.004216944918912 1.2618787973204482E-2 0.92655367231638408 2.2209277405645969 -0.40334079887393748 0.6418791208791208 -0.30511290322580642 -0.40684794980548489 0.63684925110889967 0.62735006124047099 -0.16875249254610025 0.23870487319385369 -0.12516115472166922 0.36493063781133817 -0.49771312309773852 -0.51181620423892094 0.4715409135566242 -0.13220259230671394 0.62227405525404778 1.6574059116289588 -0.35568513119533529 8.3333333333333259E-2 -3.1152647975077885E-3 -9.6984999257388904E-2 0.92533936651583715 -0.21153846153846156 0.41250000000000009 0.72532894736842102 0.31116333725029377 -0.53658536585365857 1.1849557522123892 -1 -1 0.45904444083572726 -9.0293653766015725E-2 8.1648782264115649E-2 -0.03 0.12 0.12 0.1936589971674203 0.29425478767693591 -0.60898095728255286 Total Revenues $7,479.226500000008 $10,260.52872 $10,514.201070000001 $12,156.48083 $10,151.813460000001 $13,252.403710000001 $13,737 $15,634.618 $12,728.371999999999 $16,571.754240000002 $16,000.126679999999 $17,355.547999999999 $11,476 $9,741 $12,447.918110000001 $15,578.941909999998 $40,410.233270000004 $12,288.52 $14,203.31799 $13,799 $15,022.204310000001 $14,180.652129999999 $16,329.445 $16,497.5124 $18,198.8 $15,540 $17,610 $17,884.3 $20,313.599999999999 $17,417 $16,450 $18,530 $22,493 $31,975 $38,108 $37,297 $41,776.800000000003 $34,454 $41,568.1 $0 $0 $62,655.878459999993 $49,243.860019999993 $55,312 $65,206 $71,348 $71,347.899999999994 $74,890 $,149,156.79999999999 $76,022.100000000006 YoY Change 0.35 0.29159072321177626 0.30651867018175616 0.28611382016221221 0.2538027860886245 0.25047158256243618 0.16474679187595531 0.11007176510484618 -9.8392158871535185E-2 -0.41219258631728306 -0.22201127785070751 -0.10236531223329859 7.0760892296967581E-2 0.45809649830612864 0.10853878359905123 -3.5736547656207041E-2 0.15401954109569194 0.14969227693817189 0.19555854772084924 0.21146002440436762 9.5859334079863689E-2 7.8419995290715638E-2 8.4060406585904301E-2 0.11620546409653376 0.12078507078507084 -6.5871663827370863E-2 3.6104292591826459E-2 0.10728772841839951 0.83585003157834303 1.3165957446808512 1.0127900701565031 0.857324500955853 7.7529319781078909E-2 9.0797207935341628E-2 -1 -1 0.18720207332511252 -0.21405842148653842 0.12322632664327049 0.18 0.09 0.09 4.9645469593358804E-2 0.99167846174389096 -0.490320924020896 2018 2019 2020 2020 2020 2020 2021 2020 2020 2020 2022 2020 2020 2020 2023 2020 2020 2020 2024 2025 2026 2019 2020 2021 2022 2023 2023 2024 2025 2025 Supplemental Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY FY FY FY FY FY FY FY FY Active Installed Base Active Installed Base - Beginning of Period 647 671 690 725 752 781 816 858 907 931 976 1032 #REF! #REF! #REF! #REF! 647 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 907 #REF! #REF! 752 752 752 752 Active Installed Base - End of Period 671 690 725 752 781 816 858 907 931 976 1032 1085 #REF! #REF! #REF! #REF! 752 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 1085 #REF! 752 907 907 907 907 Total U.S. NeuroStar Systems Shipped 14 25 30 40 24 43 47 61 43 61 68 78 #REF! #REF! #REF! #REF! 109 23 36 40 48 46 59 50 58 49 54 43 59 41 49 49 46 31 41 40 49 34 37 40 49 250 #REF! 147 213 204 205 185 161 499 YoY Change 0.71428571428571419 0.72 0.56666666666666665 0.52499999999999991 0.79166666666666674 0.41860465116279078 0.44680851063829796 0.27868852459016402 #REF! #REF! #REF! #REF! -0.39473684210526316 2.857142857142847E-2 2.564102564102555E-2 -0.11111111111111116 1 0.63888888888888884 0.25 0.20833333333333326 6.5217391304347894E-2 -8.4745762711864403E-2 -0.14000000000000001 1.7241379310344751E-2 -0.16326530612244894 -9.259259259259256E-2 0.13953488372093026 -0.22033898305084743 -0.24390243902439024 -0.16326530612244894 -0.18367346938775508 6.5217391304347894E-2 9.6774193548387011E-2 -9.7560975609756073E-2 0 0 #REF! #REF! #REF! 0.44897959183673503 -0.04 -0.04 -9.7560975609756073E-2 -0.12972972972972974 2.0993788819875778 Active Sites Active Sites - Beginning of Period 0 615 637 679 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 916 900 919 923 959 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1081 1001 1044 1081 1081 1001 1044 1081 #REF! #REF! 916 959 959 959 959 Active Sites - End of Period 615 637 679 707 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 900 919 923 959 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1101 1001 1044 1081 1101 #REF! #REF! 0 1101 1101 1101 1101 NeuroStar System Average Selling Price ($) (4) $75,077.285714285739 $77,094.799999999988 $74,773 $74,757.174999999988 $79,527.83333333343 $75,993.23255813954 $72,930.276595744683 $71,110.655737704918 $68,344.72093023255 $66,132.229508196717 $62,706.355588235296 $63,573.930512820516 #REF! #REF! #REF! #REF! $75,338.798165137618 $69,101.260869565216 $67,801.336111111115 $56,914.728999999999 $52,358.735416666663 $75,760 $72,410.547796610161 $72,755.848399999988 $0 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $0 $0 $0 $0 $64,782.75104000001 $60,759.732394366198 $60,759.732394366198 $60,759.732394366198 $60,759.732394366198 YoY Change 5.926955905121245E-2 -1.4291194012904018E-2 -2.4644235275504744E-2 -4.8778184332073482E-2 -0.14061074459666201 -0.12975919795193602 -0.14018760773637229 -0.10598587717548236 #REF! #REF! #REF! #REF! #DIV/0! #DIV/0! #REF! #REF! #DIV/0! #DIV/0! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #DIV/0! #DIV/0! #REF! #REF! #REF! #REF! #REF! -0.19351338388508776 -0.19351338388508776 -0.19351338388508776 -0.19351338388508776 Sequential Change 6.3805358259369171E-2 -4.4438446996812098E-2 -4.0302997944419161E-2 -2.4950143383193124E-2 -3.8896207309276565E-2 -3.237252843997096E-2 -5.1803393677160137E-2 1.3835518209385222E-2 #REF! #REF! #REF! #REF! #REF! #DIV/0! #REF! #REF! #REF! #DIV/0! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #DIV/0! #REF! #REF! #REF! 0 Average Revenue Per Active Site ($) (1) $8,885.2411128284384 $11,008.171385991058 $10,474.471014492754 $11,067.55448275862 $9,627.595345744696 $11,421.254801536492 $11,296.568627450981 $11,548.951048951049 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $43,874.182380216385 $10,511.582969432315 $12,001.111111111111 $11,162.802818280739 $12,182.826533044421 $9,873.5130761209602 $11,280 $11,364 $11,516.928769657725 $9,666.6666666666661 $11,391.304347826088 $11,916.58394160586 $13,236.654804270464 $11,299.808595789107 $10,000 $11,390 $11,027.444253859348 $8,362.6239777275096 $9,239.2795883361923 $11,390 $10,626.929674099487 YoY Change 8.3488834160617253E-2 3.7525162087421959E-2 7.8485835878561394E-2 4.3496200261978757E-2 NA #REF! #REF! #REF! #REF! #REF! #REF! #REF! 0.11614813917964395 0.62052110235716817 9.2514634028795673E-2 .4% -6.0701598909209231E-2 -6.0087028978798251E-2 1.8023894625261105E-2 -5.4658724851784579E-2 -2.0949626324448856E-2 9.8674067221709016E-3 4.8579584139438969E-2 0.14932158295043862 1.756081186977676E-3 -0.12002815909890885 -1.1021060579286424E-2 -4.2501306171829678E-2 -0.13490096782129202 -0.18891820407735727 -4.4147013782542266E-2 -0.10818415598675069 Use Total Systems Recognized from the Q or K #DIV/0! (1) = Total U.S. Treatment Session Revenue / Active Sites (End of Prior Period) Three Months EndedJune 30, 2025 2026 Revenues $38,108 $41,568 YOY Growth 9.0794583814422167E-2 Gross Profit 17758 21223 Gross Margin 0.46599139288338409 0.5105610084680523 Operating Expenses: Sales and Marketing % of Revenues 0 0 General and Administrative % of Revenues 0 0 Research and Development % of Revenues 0 0 Total Operating Expenses 25816 22724 Loss from Operations $-8,058 $-1,501 ($ in thousands) % of Revenues -0.21145166369266297 -3.610950731331794E-2 0.67744305657604698 0.54667051578137027 As of June 30, 2026 Cash and Cash Equivalents $19,197 enter Restricted Cash $5,750 Total Cash $24,947 calculates calculates Total Current Assets $53,230 calculates Total Assets $,131,529 enter Total Current Liabilities $28,309 11703 Long-Term Debt, net $61,519 0.7530888030888031 Total Liabilities $,109,889 enter Accumulated Deficit $-,473,151 enter Total Stockholders’ Equity $17,850 $,127,739 $3,790 $,131,529 2017 2018 2019 2020 2021 2022 2022 2022 2022 UNIT SALES / ACTIVE SITES 1Q-17 2Q-17 3Q-17 4Q-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-21 Q3-21 Q4-21 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Don’t update Total NeuroStar Units (Capital Sales, Sales Type Leases, Operating Leases) (1) 20 29 32 42 30 47 48 65 43 61 68 78 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 46 59 50 58 0 49 54 43 59 0 31 41 40 49 0 250 YoY D 0.5 0.6206896551724137 0.5 0.54761904761904767 0.43333333333333335 0.2978723404255319 0.41666666666666674 0.19999999999999996 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -1 -0.16949152542372881 8.0000000000000071E-2 -0.25862068965517238 #DIV/0! -1 -0.42592592592592593 -4.6511627906976716E-2 -0.32203389830508478 #DIV/0! -1 5.0975609756097562 Beginning Active Installed Base 0 671 690 725 752 781 816 858 907 931 976 1032 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Ending Active Installed Base 671 690 725 752 781 816 858 907 931 976 1032 1085 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! YoY D 0.16393442622950816 0.18260869565217397 0.18344827586206902 0.2061170212765957 0.19206145966709354 0.19607843137254899 0.2027972027972027 0.25137816979051819 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Net Active Installed Base Change 24 19 35 27 29 35 42 49 24 45 56 53 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! YoY D 0.20833333333333326 0.84210526315789469 0.19999999999999996 0.81481481481481488 -0.17241379310344829 0.28571428571428581 0.33333333333333326 8.163265306122458E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Active Sites (End of Period) 615 637 679 707 737 778 833 870 #REF! #REF! #REF! #REF! 900 919 923 959 YoY D 0.1983739837398375 0.22135007849293564 0.22680412371134029 0.23055162659123063 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -100.0% -100.0% -100.0% -100.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! Inactive Systems (Calculation) (2) -4 10 -3 15 -1 -12 -6 -16 -19 -16 -12 -25 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! Inactive System Churn % (Calculation) (3) -0.1% -1.5% -0.7% -1.9% -2.0948180815876516E-2 -1.7185821697099892E-2 -1.2295081967213115E-2 -2.4224806201550399E-2 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! (1) = Includes all active systems placed during the period. (2) = Calculation: (Ending Installed Base - Beginning Installed Base) - Total NeuroStar Units (3) = Calculation: Inactive Systems / Ending of Prior Period Installed Base 2017 2018 2019 2020 2021 2022 2022 2022 2022 NeuroStar REVENUE 1Q-17 2Q-17 3Q-17 4Q-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-21 Q3-21 Q4-21 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Q1-23 Q2-23 Q3-23 Q4-23 Don’t update Total U.S. NeuroStar Revenue ($000) $1,321.41 $2,509.8959999999997 $2,828.9520000000002 $3,459.297 $2,373 $3,568.15 $3,908 $4,754 $3,350 $4,628 $4,616 $5,413 #REF! #REF! #REF! #REF! #REF! #REF! $2,612 $2,815 $3,642.266999999999 $4,381.9099699999997 $3,934 $4,616 $0 $3,850 $4,489 $3,597 $4,523.6000000000004 $0 $2,846 $3,484 $3,508 $4,421 $0 $18,007.110260000001 YoY D 0.79580902218085225 0.42163260947864001 0.38143029644900284 0.37426766189777871 0.41171512852928771 0.29703067415887774 0.18116683725690885 0.13862010938157332 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 1.08 #REF! 0.50612557427258809 0.63978685612788633 1.08 -0.12138769934609128 0.14107778342653798 -0.22075389948006929 1.08 -1 -0.36600579193584315 -3.1415068112315869E-2 1.08 #DIV/0! -1 4.1685161481056259 U.S. NeuroStar Capital Revenue ($000) (1) $1,083.820000000001 $1,974.9379999999999 $2,219.7345 $2,942.4469999999997 $1,908.6499999999999 $3,267.65 $3,427.6 $4,337.7 $2,938.5729999999999 $4,034.599999999995 $4,264 $4,958.8 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 $16,195.687760000001 YoY D 0.76223960882001518 0.65455826967732667 0.54414863579405548 0.47418118321247604 0.53960809996594405 0.23454470338010469 0.24401913875598091 0.14318648131498279 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! U.S. NeuroStar Operating Lease Revenue ($000) (2) $229.8 $293.95800000000003 $289 $234 $258 $181 $269 $231 $182 $187 $184 $176.7 #REF! #REF! #REF! #REF! #REF! #REF! $30 $85 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 $730.13850000000002 YoY D 0.13 -0.38426577946509366 -6.9204152249134898E-2 -0.02 -0.29457364341085268 3.3149171270718147E-2 -0.31 -0.23506493506493509 #REF! #REF! #REF! #REF! -0.3 #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! #REF! #REF! -0.3 #REF! U.S. NeuroStar Other ($000) (3) $8 $241 $320.21749999999997 $282.85000000000002 $206 $119.5 $210.995 $185 $228.95 $407.25 $167.084 $278 #REF! #REF! #REF! #REF! #REF! #REF! $305 $217 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 #REF! #REF! #REF! #REF! $0 $1,081.2840000000001 YoY D NM -0.50414937759336098 -0.34108847892448091 -0.34594307937069124 0.11140776699029131 2.39 -0.20811393634920261 0.50270270270270268 #REF! #REF! #REF! #REF! #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 #REF! 1 #REF! 1.26 (1) = Revenue includes NeuroStar System Capital Sales and Sales Type Leases (2) = Revenue derived from Operating Lease revenue amortization during the period (3) = Revenue derived from Treatment Coils in U.S. 2017 2018 2019 2020 2021 2022 2023 2024 2025 Treatment Session REVENUE 1Q-17 2Q-17 3Q-17 4Q-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Update/Unhide Total U.S. Treatment Session Revenues ($000) $5,749.6779800000004 $7,388.1369999999997 $7,228.5863399999998 $8,025.3639999999996 $7,239.5479999999998 $8,919.991 $9,218 $9,909 $8,777.6730000000007 $10,847.352000000001 $10,251.888000000001 $11,243 #REF! #REF! #REF! #REF! #REF! $10,801 #REF! #REF! $9,468.6990400000013 $11,294.537 $11,863.551890000002 $12,449.8 $10,643 $12,314 $13,060 $14,878 $9,612 $10,773 $10,543 $12,391 $0 $41,120.22219 $0 $34,852.260719999998 YoY D 0.26 0.20733968522781865 0.27521476073287099 0.2347103508326851 0.21246146858892301 0.21607207899649228 0.11215968756780215 0.13462508830356246 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 4.5693639477826231E-2 #REF! #REF! 0.12401925069528863 9.026160169292452E-2 0.1008507503565188 0.19503927773940144 -9.6871182937141809E-2 -0.12514211466623359 -0.19272588055130169 -0.16715956445758839 -1 2.8169704065719854 -1 1.81270766846905 Active Sites(End of Period) 0 671 690 725 615 637 679 707 737 778 833 870 #REF! #REF! #REF! #REF! 900 919 923 959 0 1001 1044 1081 1101 0 1001 1044 1081 1101 0 1001 1044 1081 1101 0 Average Revenue per Active Site ($000) (1) $8.8866738485316894 $11.010636363636364 $10.476212086956522 $11.069467586206896 $0 $14.504065040650406 $14.470957613814758 $14.593519882179676 #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! $10.511582969432315 $12.001111111111111 $11.16280281828074 $12.182826533044421 $9.8735130761209611 $11.28 $11.364000000000001 $11.516928769657724 $9.6666666666666661 $11.391304347826088 $11.916058394160585 $13.236654804270463 $8.3626239777275089 $9.239279588336192 $11.39 $10,626.929674099487 $0 $0 $0 $0 YoY D 8.3314035681520959E-2 3.7291842237985096E-2 7.8306599149118972E-2 4.3315855890089239E-2 NM #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! -6.0701598909209099E-2 -6.0087028978798328E-2 1.8023894625261182E-2 -5.4658724851784697E-2 -2.0949626324448987E-2 9.8674067221709624E-3 4.8579584139438914E-2 0.14932158295043862 -0.13490096782129213 -0.18891820407735724 -4.414701378254212E-2 801.84103734963185 -1 -1 -1 -1 (1) = Total Treatment Session Revenue / Active Sites (Ending of Prior Quarter) Q1 2023 15.5 Q2 2023 17.600000000000001 Q3 2023 17.899999999999999 Q4 2023 20.3 Q1 2024 17.399999999999999 Q2 2024 16.5 Q3 2024 18.5 Q4 2024 22.5 Q1 2025 32 Q2 2025 37

NeuroStar Indications and Safety Information NeuroStar Adult Indications for Use The NeuroStar Advanced Therapy System is indicated for the treatment of depressive episodes and for decreasing anxiety symptoms for those who may exhibit comorbid anxiety symptoms in adult patients suffering from Major Depressive Disorder (MDD) and who failed to achieve satisfactory improvement from previous antidepressant medication treatment in the current episode. The NeuroStar Advanced Therapy System is intended to be used as an adjunct for the treatment of adult patients suffering from Obsessive-Compulsive Disorder (OCD). NeuroStar Adolescent Indications for Use NeuroStar Advanced Therapy is indicated as an adjunct for the treatment of Major Depressive Disorder (MDD) in adolescent patients (15-21). Important Safety Information NeuroStar Advanced Therapy is only available by prescription. A doctor can help decide if NeuroStar Advanced Therapy is right for you. Patients’ results may vary. The most common side effect is pain or discomfort at or near the treatment site. These events are transient; they occur during the TMS treatment course and do not occur for most patients after the first week of treatment. There is a rare risk of seizure associated with the use of TMS therapy (<0.1% per patient). Visit neurostar.com for full safety and prescribing information.

SPRAVATO® Indications and Safety Information SPRAVATO® is a trademark of Janssen Pharmaceuticals, Inc. Learn more at Spravato.com. Visit Spravato.com for full safety and prescribing information.

SPRAVATO® Indications and Safety Information SPRAVATO® is a trademark of Janssen Pharmaceuticals, Inc. Learn more at Spravato.com. Visit Spravato.com for full safety and prescribing information.

SPRAVATO® Indications and Safety Information SPRAVATO® is a trademark of Janssen Pharmaceuticals, Inc. Learn more at Spravato.com. Visit Spravato.com for full safety and prescribing information.

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