Neuronetics, Inc. (STIM)

Neuronetics' stock has experienced significant volatility over the past six months. The stock saw a substantial rally of approximately 430% since November and was up over 170% in 2025, driven by strong Q4 2024 results and FDA clearances. However, the stock's performance over the last 12 months has shown a decrease of 55.76%, with a 6.80% decrease in the past month and a 37.50% decrease in the past three months, as of February 7, 2026. Key events include the Q2 2025 earnings call, which initially boosted the stock but was followed by a pre-market drop due to missed EPS forecasts. Neuronetics also secured additional funding and signed an agreement with Elite DNA Behavioral Health. Q3 2025 revenue increased, but system and treatment session revenue decreased, along with a decreased gross margin. TRICARE expanded TMS coverage to include adolescents, and the CEO announced his retirement. Executive cash and restricted stock unit awards were approved in January 2026.

The provided information does not explicitly detail any specific demand seasonality for Neuronetics, Inc.'s products and services. The company's focus on treating neurohealth disorders, particularly major depressive disorder, suggests a potentially consistent demand throughout the year, as these conditions are not typically seasonal.

Neuronetics, Inc. is a commercial-stage medical technology company focused on developing and marketing products for neurohealth disorders. Their flagship product, the NeuroStar Advanced Therapy System, is an FDA-cleared, non-invasive TMS device for treating major depressive disorder in adults who haven't responded to antidepressants. The company's business model includes capital equipment sales, recurring revenue from consumables and service contracts, and additional services like clinical training and patient education. Neuronetics acquired Greenbrook TMS to expand its treatment center network and is exploring new clinical applications for NeuroStar, such as anxiety disorders and PTSD.

Neuronetics' primary geographic footprint is in the United States, where it operates its network of Greenbrook TMS Inc. clinics. The company is also actively working to increase its presence in international markets to reach a broader patient population.

Neuronetics' brand reputation has been positively influenced by the demonstrated efficacy of its NeuroStar TMS therapy, particularly in treating depression in adolescents and young adults. TRICARE's decision to expand coverage for TMS treatment to include adolescents aged 15 and older further bolstered this positive perception. However, the company faces challenges due to its dependence on the NeuroStar system and competitive pressure from rivals like MagVenture. Analyst consensus has also raised concerns about the company's weak financial durability and high cash burn rates.

The ownership structure of Neuronetics stock includes institutional investors (11.52%), insiders (13.05%), and public companies and individual investors (75.43%). Major institutional shareholders include Vanguard Group Inc, BlackRock, Inc., UBS Group AG, Balyasny Asset Management Llc, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Wexford Capital Lp, Masters Capital Management Llc, Marshall Wace, Llp, and Ikarian Capital, LLC. Madryn Asset Management, LP and Madryn Health Partners Ii (Cayman Master), Lp also hold significant percentages of the company's stock.