Neuronetics Income Statement 2025-2011 | STIM

Brief overview of financial results at Neuronetics

The overview follows changes across a five-year period. Neuronetics reported revenue of $49.2 million in 2020 and $149 million by 2025. The cumulative result was +202.9%, corresponding to roughly 24.8% per year. The company expanded its revenue base at a high speed.

At the gross-profit level, the result moved from 37.7 million dollars to 72.3 million dollars, a change of +91.8%. Direct costs outpaced revenue, limiting the benefit of changes in sales. At the margin level, the figure shifted from 76.5% to 48.5%. A lower margin indicates deterioration in the economics of the core business.

The operating result measured by EBITDA moved from −21.4 million dollars to −28 million dollars, or −30.9%. Operating performance weakened relative to revenue. EBITDA margin was −43.4% at the start and −18.8% at the end. Higher profitability strengthens the quality of operating growth.

The net financial result changed from −27.5 million dollars to −39 million dollars. The loss widened and increased the financial risk.

The five-year change in capitalization reached −72.3%: from $293 million to $81.1 million. Market expectations deteriorated over the period.

Conclusion

The financial trajectory is weak and requires a cautious interpretation. Key strengths include higher operating efficiency and revenue expansion. The most visible risks are declining net profitability, a narrow EBITDA buffer and pressure from direct costs. Further direction will depend on top-line growth, operating profitability, and net income.