Neuronetics, Inc. · NASDAQ:STIM
Neuronetics — Q2 2026 Earnings Presentation
26 slides from Neuronetics's earnings presentation, Aug 11, 2026
Slide 1: Company Presentation
COMPANY PRESENTATION NASDAQ: STIM August 2026
Slide 2: Forward Looking Statements
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
Slide 3: Non-GAAP Financial Measures
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, earnin
Slide 4: The leading platform for delivering in-office mental health therapies when common anti-depressants fail
253,412 Unique Patients Treated1 The leading platform for delivering in- 9,133,855 office mental health therapies when Treatments Administered1 common anti-depressants fail $149M Annual Revenue (2025) 4 1) Neuronetics, Inc. internal estimate based on the Company’s data on total treatment sessions an
Slide 5: Seasoned Senior Leadership Team
Seasoned Senior Leadership Team Dan Reuvers Nir Naor Cory Anderson Rob Greene President & CEO Chief Financial Officer Executive Vice President Senior Vice President and General Manager of of Sales Greenbrook 5
Slide 6: A Leader in Mental Health Care
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. Large depression population poorly served by medication Innovative portfolio of in-office therapies: TMS, Spravato
Slide 7: Over 29.3 Million Lives Affected by Depression
Over 29 Million Lives Affected by Depression1,2,3 What is MDD? Major depressive disorder is persistent low mood or loss of interest lasting two weeks or Total Available Market more, enough to disrupt daily life. 29.3 million How does it present in patients? Low mood, loss of interest, and changes in
Slide 8: Millions of Patients are Poorly Served by Medication
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 Antidepressants have material side effects Patient Remission Rates(6-9) Drug Discontinuation Rates(6-9) 50% 50% % of P
Slide 9: Innovative In-Office Therapies
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 Growth in +23% Treated with TMS +57% Spravato Revenue in 20251 in 20252 1
Slide 10: NeuroStar TMS
NeuroStar TMS The industry's leading TMS therapeutic platform 83% 62% 36 19 min measurable relief1 full remission2 daily sessions per session How it works TMS uses focused magnetic pulses to gently activate brain circuits involved in mood, helping them function more normally over time. Treatment cou
Slide 11: Spravato
Spravato Approved for use as monotherapy or in combination with existing antidepressants 24 hr 52% 2 doses 2 Results as early as remission at 4 for two weeks hour treatments 24 hours1 weeks2 How it works Prescription nasal spray that is believed to target glutamate, working differently from standard
Slide 12: Deploying Therapies Through Unique, Scaled Model
Deploying Therapies Through Unique, Scaled Model Mix of company-owned sites and NeuroStar TMS customers facilitates widespread patient access NeuroStar TMS Customers 92 Clinics Nationwide 800+ Sites Nationwide 12
Slide 13: Greenbrook Mental Wellness Centers
Greenbrook Mental Wellness Centers Referred patients are evaluated, matched to the right therapy, and managed over time Individualized, ongoing care Patient Evaluation Intake: Patient Referral Offering both therapies within a single clinic enables continuity of care. Treatment is individualized at i
Slide 14: Greenbrook: A Leading Platform for Emerging Therapies
Greenbrook: A Leading Platform for Emerging Therapies Greenbrook’s infrastructure can support additional novel therapies as they reach the market Potential Near-Term Psychedelic Opportunities2 Greenbrook Proven REMS1 infrastructure, built through Spravato experience COMP360 psilocybin for MDD REMS l
Slide 15: NeuroStar: Evolving our Go-to-Market Approach
NeuroStar: Evolving our Go-to-Market Approach Three ways to access NeuroStar, broadening reach while preserving high-touch support From one model to three SESSIONS LEASE CAPITAL Our Treatment Session model, Partnership Finance It Own It Outright high-touch and ongoing, set Our established treatment-
Slide 16: Poised to Deliver Strong Growth While Improving Cash Flow
Poised to Deliver Strong Growth While Improving Cash Flow FY 2026 Guidance (As of August 11th, 2026) Revenue $160M to $164M (+7% to +10% YoY) Gross Margin Between 48% and 50% $91M - $96M Operating Expenses excluding ~$4 million of non-cash stock-based compensation Cash Flow Cash Flow from Operations
Slide 17: Reconciliation Bridge Operating Expense to Operating Expense less Non-Cash Stock-Based Compensation
Reconciliation Bridge Operating Expense to Operating Expense less Non-Cash Stock-Based Compensation ($ in millions) The following table presents the Company’s reconciliation between Operating Expenses and Operating Expenses less Stock Based Compensation. This adjusted guidance is based on assumption
Slide 18: Financial Overview
Financial Overview Neuronetics
Slide 19: Worldwide Quarterly Revenue
Worldwide Quarterly Revenue1 ($ in ($ millions) in millions) (As Reported) Q2 2026 Revenue of $41.6M, a 9% increase from Q2 2025 41.8 41.6 38.1 37.3 34.5 32.0 23.5 26.9 23.0 21.8 21.5 18.7 Greenbrook NeuroStar 18.3 15.1 15.5 14.7 13.3 12.9 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 (1) Actual r
Slide 20: Results of Operations
Results of Operations1 ($ in ($ thousands) in thousands) (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) ($1,501)
Slide 21: Reconciliation Bridge EBITDA to Adjusted EBITDA
Reconciliation Bridge EBITDA to Adjusted EBITDA ($ in thousands) 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 neces
Slide 22: Financial Position
Financial Position ($ in thousands) ($ in thousands) As of June 30, 2026 Cash and Cash Equivalents $19,197 Restricted Cash $5,750 Total Cash $24,947 Total Current Assets $53,230 Total Assets $131,529 Total Current Liabilities $28,309 Long-Term Debt, net $61,519 Total Liabilities $109,889 Accumulated
Slide 23: NeuroStar Indications and Safety Information
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
Slide 24: SPRAVATO Indications and Safety 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. 24
Slide 25: SPRAVATO Indications and Safety 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. 25
Slide 26: SPRAVATO Indications and Safety 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. 26