Neuronetics, Inc. Common Stock 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- Neuronetics reported second quarter 2026 total revenue of $41.6 million, up approximately 9% year over year.
- Neurostar total worldwide revenue was $14.7 million, down 2.7% compared to the prior year, with capital revenue up double digits and treatment session revenue down double digits.
- Greenbrook revenue was $26.9 million, up approximately 17% year over year, driven by operational discipline and revenue cycle management improvements.
- Gross margin improved to 51.1% from 46.6% in the prior year, reflecting mix and revenue cycle management efforts.
- Operating expenses decreased by 12% to $22.7 million due to lower general and administrative and sales and marketing expenses.
- Net loss improved to $3.4 million, or $0.05 per share, compared to a net loss of $10.1 million, or $0.15 per share, in the prior year.
- Adjusted EBITDA was positive $0.3 million, an improvement of $5.9 million from negative $5.6 million in the prior year.
- Cash and cash equivalents totaled $25 million as of June 30, 2026, up from $19 million at March 31, 2026.
- Cash used by operations and investing was $1.4 million in the quarter, compared to $3.8 million in the prior year quarter.
- The company raised $7.6 million in net proceeds through an at-the-market equity offering during the quarter.
- Management made senior leadership changes including appointing Nir Naor as CFO, promoting Cory Anderson to EVP and GM of Greenbrook, and appointing Rob Green as SVP of sales.
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Transcript
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Good day, and thank you for standing by. Welcome to the Neuronetics Report Second Quarter 2026 Financial and Operating Results Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising that your hand is raised. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Mike Vallie from ICR Healthcare.
Please go ahead. Good morning, and thank you for joining us for the Neuronetics second quarter 2026 conference call.
Joining me on today's call are the Neuronetics President and Chief Executive Officer, Dan Reuvers, and the company's recently appointed Chief Financial Officer, Nir Naor. Before we begin, I would like to caution listeners that certain information discussed by management during this conference call will include forward-looking statements covered under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our business, strategy, financial and revenue guidance, and other operational issues and metrics. Actual results can differ materially from those stated or implied by these forward-looking statements due to risks and uncertainties associated with the company's business.
For a discussion of risks and uncertainties associated with Neuronetics business, I encourage you to review the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K, which was filed in March, and the company's quarterly report on Form 10-Q for the quarter ending June 30, 2026. The company disclaims any obligation to update any forward-looking statements made during the course of this call, except as required by law. During the call, we will also discuss certain information on a non-GAAP basis, including EBITDA. Management believes that non-GAAP financial information, taken in conjunction with U.S. GAAP financial measures, provides useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of trends in our operating results.
Reconciliations between U.S. GAAP and non-GAAP results are presented in the tables accompanying our press release, which can be viewed on our website. With that, it is my pleasure to turn the call over to Neuronetics President and Chief Executive Officer, Dan Reuvers.
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