MALVERN, PA — Neuronetics Inc. (NASDAQ: STIM) reported selected preliminary unaudited financial results for the fourth quarter and full year 2025, citing revenue growth and positive operating cash flow in the final quarter of the year.
For the fourth quarter ended December 31, 2025, the company reported revenue of $41.8 million, representing 86% year-over-year growth on an as-reported basis and 23% growth on an adjusted pro forma basis.
Fourth-quarter NeuroStar revenue totaled $18.3 million, up 9% on a pro forma basis compared with the same period in 2024. The company said it shipped 49 NeuroStar Advanced Therapy systems during the quarter.
Clinic revenue for the fourth quarter was $23.5 million, up 37% on an adjusted pro forma basis from the prior-year period.
Neuronetics reported positive operating cash flow of $0.9 million in the fourth quarter.
For the full year 2025, revenue was $149.2 million, reflecting 99% year-over-year growth on an as-reported basis and 15% growth on an adjusted pro forma basis.
Full-year NeuroStar revenue totaled $62.2 million, up 0.9% on a pro forma basis from 2024. Clinic revenue for the year was $87.0 million, an increase of 28% on an adjusted pro forma basis.
The company ended 2025 with $34.1 million in total cash, including cash, cash equivalents and restricted cash.
Neuronetics said the preliminary results assume its acquisition of Greenbrook occurred on January 1, 2024, and include adjustments related to assumed sales and the closure of certain non-performing Greenbrook clinics.
The company plans to release full fourth-quarter 2025 financial and operating results before market open on March 17, 2026, and will host a conference call at 8:30 a.m. Eastern Time that day to review the results.
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