Neuronetics Posts Q1 Revenue Growth and Expanded TMS Coverage

Neuronetics ( (STIM) ) just unveiled an announcement.

On May 5, 2026, Neuronetics reported first-quarter 2026 results showing total revenue of $34.5 million, up 8% year over year, driven by a 15% rise in U.S. clinic revenue to $21.5 million and a 13% increase in NeuroStar system revenue, though international sales declined and treatment session revenue fell 5%. The company shipped 34 NeuroStar systems in the U.S., improved its net loss to $10.8 million from $12.7 million, cut operating expenses by 6%, and reduced operating cash use by $7.6 million, while gross margin slipped to 46.9% due to mix and cash balances fell after a $5 million debt paydown.

Operationally, a key development was Optum/United Healthcare/United Behavioral Health expanding its TMS policy to allow psychiatric mental health nurse practitioners to order, supervise, and administer NeuroStar therapy in full-practice states, extending access across 26 states and Washington, D.C. This policy shift broadens coverage to about 34.8 million lives, potentially accelerating adoption in underserved areas and reinforcing Neuronetics’ position in TMS as it guides to mid-single-digit revenue growth in the second quarter of 2026 and maintains its full-year 2026 financial outlook.

The most recent analyst rating on (STIM) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Neuronetics stock, see the STIM Stock Forecast page.

Spark’s Take on STIM Stock

According to Spark, TipRanks’ AI Analyst, STIM is a Neutral.

The score is held down primarily by weak financial performance—large ongoing losses and consistently negative operating/free cash flow—despite improving revenue growth and reduced leverage. Earnings-call guidance supports a cautious improvement narrative (growth outlook and a stated path to positive operating cash flow in H2 2026), while technical signals are mixed/mostly neutral and valuation is constrained by a negative P/E and no dividend support in the provided data.

To see Spark’s full report on STIM stock, click here.

More about Neuronetics

Neuronetics, Inc., based in Malvern, Pa., is a vertically integrated, commercial-stage medical technology and healthcare company focused on neurohealth therapies. Its primary product is the NeuroStar Advanced Therapy System, a non-drug, non-invasive transcranial magnetic stimulation treatment for major depressive disorder, supported by a growing U.S. clinic platform and related treatment services.

The company targets patients with difficult-to-treat depression and partners with payors and providers to expand access to TMS-based mental health care. Neuronetics’ revenue is driven largely by U.S. clinic operations, device sales, and treatment sessions, with a strategic emphasis on scaling its national clinic footprint and leveraging reimbursement policies to increase utilization of NeuroStar therapy.

On May 5, 2026, Neuronetics reported first-quarter 2026 results showing total revenue of $34.5 million, up 8% year over year, driven by a 15% rise in U.S. clinic revenue to $21.5 million and a 13% increase in NeuroStar system revenue, though international sales declined and treatment session revenue fell 5%. The company shipped 34 NeuroStar systems in the U.S., improved its net loss to $10.8 million from $12.7 million, cut operating expenses by 6%, and reduced operating cash use by $7.6 million, while gross margin slipped to 46.9% due to mix and cash balances fell after a $5 million debt paydown.

Operationally, a key development was Optum/United Healthcare/United Behavioral Health expanding its TMS policy to allow psychiatric mental health nurse practitioners to order, supervise, and administer NeuroStar therapy in full-practice states, extending access across 26 states and Washington, D.C. This policy shift broadens coverage to about 34.8 million lives, potentially accelerating adoption in underserved areas and reinforcing Neuronetics’ position in TMS as it guides to mid-single-digit revenue growth in the second quarter of 2026 and maintains its full-year 2026 outlook for higher sales, steady margins, and controlled operating expenses.

Average Trading Volume: 2,358,442

Technical Sentiment Signal: Hold

Current Market Cap: $140.6M

Find detailed analytics on STIM stock on TipRanks’ Stock Analysis page.