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Neuronetics, Inc.: Business Overview, Financials & Competitive Analysis

Neuronetics, Inc. scores 5/10 on the AskCyborg Cyborg Score (Mixed). Neuronetics faces profitability headwinds despite solid revenue growth driven by Greenbrook vertical integration, with payer coverage expansion and market expansion providing upside optionality but execution risk remaining. 2024 revenue grew 4.96% to $74.89 million, but losses increased 44.8% to -$43.71 million. Stock has fallen 62.85% over the past 12 months.

What is Neuronetics, Inc.'s industry? Neuronetics, Inc. (neuronetics.com) operates in Medical Devices - Neurohealth/Mental Health Treatment. AskCyborg classifies Neuronetics, Inc. under Medical Devices - Neurohealth/Mental Health Treatment in its company registry.

Neuronetics is a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders. The company's ...

5/ 10Mixed

Cyborg Score thesis

Neuronetics faces profitability headwinds despite solid revenue growth driven by Greenbrook vertical integration, with payer...

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Industry Medical Devices - Neurohealth/Mental Health Treatment
4 named competitors
4 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: November 2, 2026
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Neuronetics, Inc. OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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Neuronetics, Inc. Overview

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Neuronetics is a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders. The company's NeuroStar Advanced Therapy System is a non-invasive, office-based treatment using transcranial magnetic stimulation to create a pulsed magnetic field that stimulates specific brain areas associated with mood. The company operates both as a device manufacturer and through its Greenbrook TMS clinic chain following its strategic acquisition.

Strategic Profile

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The strategic acquisition of Greenbrook TMS has vertically integrated the company's value chain and positioned it for long-term growth. Neuronetics has secured significant payer coverage expansions, including New York State Medicaid and TRICARE coverage, and has established exclusive partnerships like a three-year collaboration with Elite DNA Behavioral Health to expand NeuroStar TMS access. The company is pursuing market expansion into adolescent care and broadening clinical indications beyond major depressive disorder.

Competitive Landscape

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STIM operates in the medical devices space with higher volatility (13% weekly) than 75% of US stocks. Primary competition comes from alternative depression treatments including pharmaceutical approaches, other neuromodulation technologies (rTMS competitors), and psychotherapy services. Neuronetics' differentiation stems from its vertically integrated clinic network via Greenbrook, established payer relationships, and FDA clearances across multiple indications including anxious depression and adolescent populations.

Industry Context

Neuronetics, Inc. operates in Medical Devices - Neurohealth/Mental Health Treatment.

Key facts

Founded: 2001 · Headquarters: Malvern, Pennsylvania, USA · Revenue: $149.2M (FY2025 preliminary) · Market cap: $100M

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on Neuronetics, Inc..

  • Q4 2025 preliminary results show $41.8M revenue (+86% reported, +23% adjusted pro forma) with positive operating cash flow of $0.9M and 49 systems shipped.
  • New York State Medicaid began covering TMS therapy for major depressive disorder effective October-November 2025, expanding access to over 5 million members statewide.
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Strong Q4 2025 preliminary results announced with 86% reported revenue growth; stock rose 41% in after-hours trading
  • November 2025CEO transition plan announced with retirement effective June 30, 2026; New York State Medicaid coverage expansion effective; TRICARE adolescent coverage approval
  • +2 moreTrack every material event for Neuronetics, Inc. as it happens. Explore monitoring →
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Ketamine TherapyPharmaceutical-based rapid-onset depression treatment→Esketamine (Spravato)FDA-approved ketamine derivative for treatment-resistant depression→rTMS SystemsAlternative transcranial magnetic stimulation platforms→Psychotherapy/Counseling ServicesTraditional behavioral health treatment modalities→

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Industry context

Neuronetics, Inc. operates in Medical Devices - Neurohealth/Mental Health Treatment. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Neuronetics, Inc. do?+
Neuronetics is a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders. The company's ...
What is Neuronetics, Inc.'s Cyborg Score?+
Neuronetics, Inc. has a Cyborg Score of 5/10 (Mixed). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Neuronetics, Inc.'s main competitors?+
Named competitors include Ketamine Therapy, Esketamine (Spravato), rTMS Systems, Psychotherapy/Counseling Services. The full competitive landscape is in the AskCyborg report.
How can I get the full Neuronetics, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Neuronetics, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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