- Neuronetics (STIM, Financial) reported Q1 2025 revenue of $32.0M, marking an 84% year-over-year increase.
- The company's net loss was noted at $(12.7M), with an anticipated cash flow positive status by Q3 2025.
- Enhanced insurance coverage now includes major providers for adolescent TMS treatments, covering ages 15 and older.
Neuronetics, Inc. (STIM) has reported strong financial results for the first quarter of 2025, driven largely by its acquisition of Greenbrook, contributing significantly to its revenue. The company achieved a total revenue of $32.0 million, which marks an exceptional 84% increase compared to the previous year, although this was accompanied by a net loss of $(12.7 million).
Greenbrook's clinics generated $18.7 million of revenue, representing a significant portion of the growth. However, other segments such as the NeuroStar Advanced Therapy System and U.S. treatment sessions experienced declines, falling to $2.8 million and $9.6 million respectively.
Despite these challenges, Neuronetics is optimistic about turning cash flow positive by the third quarter of 2025, aided by a successful secondary offering that raised $18.9 million. This capital boost is expected to support critical growth initiatives and operational efficiencies.
Recent operational developments include the upcoming retirement of CFO Steve Furlong in March 2026 and an expansion of insurance coverage for adolescent TMS treatment, with major insurance providers like Cigna’s Evernorth now covering treatment for individuals aged 15 and above. This coverage is poised to be a critical growth driver, addressing the needs of approximately 4.3 million adolescents with major depressive disorder in the U.S.
Neuronetics has also updated its financial projections for 2025, expecting total revenue between $149.0 million and $155.0 million, with Q2 revenue anticipated to be in the range of $36.0 million to $38.0 million. The company is confident in its strategic direction, aiming to end the year with cash reserves above $20 million, fortifying its financial standing.