Neuronetics, Inc.
STIM · Surgical & Medical Instruments & Apparatus · 69.6M shares · +12%/yr ↑ dilution · EDGAR filings ↗
Reference price $1.17 · est. market cap ~$81M — last insider purchase, 2026-05-19 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50TMS-device company (post-Greenbrook merger) with strong growth but operating losses and leverage.
Strengths
- Strong growth — revenue +99% (merger-aided)
- Adequate liquidity — current ratio 2.0 (37th)
Risks
- Operating/net losses — operating margin -21%, ROE -174%
- High leverage — D/E 2.9 (93rd)
- Integration execution — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 2.94)
- Net lossNet loss (net margin -26.1%)
- Customer concentration~12% of revenue from one customer/distributor — For the years ended December 31, 2024 and 2023, one customer Greenbrook, accounted for 12% and 15%, respectively, of the Company’s revenue
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Chronic dilutionShare count +12%/yr over 4y (dilution, book value/share -83%)
- Insider buyingInsider buying — 12 open-market buy(s) by 1 insider(s) (~$5M, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 11 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$281,887, last 6mo) Form 4 ↗
- Revenue declineRevenue -17.5% YoY
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
48.5%
Operating margin
-21.1%
Net margin
-26.1%
Return on equity
-174.3%
Return on assets
-27.6%
ROIC
-28.2%
Revenue growth (QoQ)
-17.5%
Debt / equity
2.9×
Current ratio
2.0×
EBITDA
-$28M
Tangible book value
-$19M
Cash & investments
$28M
Stock comp / revenue
4.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Amin Avinash | Other | 35K | — |
| 2026-06-15 | Amin Avinash | Other | 4.6K | — |
| 2026-06-15 | Madryn Asset Management, LP | Other | 2.9K | — |
| 2026-06-15 | Madryn Asset Management, LP | Other | 35K | — |
| 2026-06-15 | Madryn Asset Management, LP | Other | 4.6K | — |
| 2026-06-15 | Amin Avinash | Other | 2.9K | — |
| 2026-05-28 | Madryn Asset Management, LP | Other | 3.3K | — |
| 2026-05-28 | Rosengarten Megan | Grant | 30K | — |
| 2026-05-28 | CONLEY SHERYL L | Grant | 30K | — |
| 2026-05-28 | CASCELLA ROBERT | Grant | 36K | — |
| 2026-05-28 | MUIR GLENN P | Grant | 30K | — |
| 2026-05-28 | Madryn Asset Management, LP | Other | 2.1K | — |
| 2026-05-28 | Madryn Asset Management, LP | Other | 25K | — |
| 2026-05-28 | Amin Avinash | Grant | 30K | — |
| 2026-05-28 | Cucuz Sasha | Grant | 30K | — |
| 2026-05-19 | Chernett Jorey | Buy | 100K | $1.17 |
| 2026-05-12 | Chernett Jorey | Buy | 475K | $1.34 |
| 2026-04-21 | Chernett Jorey | Buy | 100K | $1.51 |
| 2026-04-20 | Chernett Jorey | Buy | 100K | $1.58 |
| 2026-03-30 | Chernett Jorey | Buy | 385K | $1.25 |
| 2026-03-27 | Chernett Jorey | Buy | 500K | $1.35 |
| 2026-03-26 | Chernett Jorey | Buy | 25K | $1.44 |
| 2026-03-25 | Chernett Jorey | Buy | 125K | $1.40 |
| 2026-03-23 | REUVERS DANIEL L. | Grant | 1.5M | — |
| 2026-03-20 | Chernett Jorey | Buy | 169K | $1.41 |
| 2026-03-19 | Pfanstiel Steven | Sell | 8.6K | $1.34 |
| 2026-03-19 | Chernett Jorey | Buy | 450K | $1.33 |
| 2026-03-19 | Pfanstiel Steven | Sell | 16K | $1.34 |
| 2026-03-19 | Sullivan Keith J | Sell | 46K | $1.34 |
| 2026-03-19 | MACAN WILLIAM ANDREW | Sell | 16K | $1.34 |
| 2026-03-18 | Chernett Jorey | Buy | 607K | $1.35 |
| 2026-03-17 | Sullivan Keith J | Grant | 112K | — |
| 2026-03-17 | Pfanstiel Steven | Grant | 25K | — |
| 2026-03-17 | Chernett Jorey | Buy | 531K | $1.16 |
| 2026-03-17 | MACAN WILLIAM ANDREW | Grant | 34K | — |
| 2026-03-04 | MACAN WILLIAM ANDREW | Sell | 609 | $1.34 |
| 2026-02-26 | Sullivan Keith J | Sell | 8.5K | $1.35 |
| 2026-02-26 | MACAN WILLIAM ANDREW | Sell | 3.4K | $1.35 |
| 2026-02-23 | MACAN WILLIAM ANDREW | Grant | 210K | — |
| 2026-02-23 | Pfanstiel Steven | Grant | 250K | — |
| 2026-02-12 | MACAN WILLIAM ANDREW | Sell | 14K | $1.65 |
| 2026-02-12 | Sullivan Keith J | Sell | 34K | $1.65 |
| 2026-02-10 | MACAN WILLIAM ANDREW | Sell | 3.5K | $1.55 |
| 2026-02-10 | Sullivan Keith J | Sell | 41K | $1.55 |
| 2025-12-30 | MACAN WILLIAM ANDREW | Grant | 164K | — |
| 2025-12-30 | Pfanstiel Steven | Grant | 170K | — |
| 2025-10-20 | CONLEY SHERYL L | Grant | 7.3K | — |
| 2025-10-20 | Cucuz Sasha | Grant | 6.4K | — |
| 2025-10-20 | CASCELLA ROBERT | Grant | 11K | — |
| 2025-10-20 | MUIR GLENN P | Grant | 7.6K | — |
| 2025-08-08 | Madryn Asset Management, LP | Sell | 193K | $3.72 |
| 2025-08-08 | Madryn Asset Management, LP | Sell | 382K | $3.72 |
| 2025-08-08 | Madryn Asset Management, LP | Sell | 2.9M | $3.72 |
| 2025-07-15 | Pfanstiel Steven | Grant | 200K | — |
| 2025-07-15 | Pfanstiel Steven | Grant | 200K | — |
| 2025-07-10 | Madryn Asset Management, LP | Gift | 337K | — |
| 2025-07-10 | Madryn Asset Management, LP | Gift | 337K | — |
| 2025-05-22 | Cucuz Sasha | Grant | 30K | — |
| 2025-05-22 | Rosengarten Megan | Grant | 30K | — |
| 2025-05-22 | CASCELLA ROBERT | Grant | 36K | — |
| 2025-05-22 | CONLEY SHERYL L | Grant | 30K | — |
| 2025-05-22 | Amin Avinash | Grant | 30K | — |
| 2025-05-22 | MUIR GLENN P | Grant | 30K | — |
| 2025-05-13 | Furlong Stephen | Sell | 6.5K | $4.16 |
| 2025-05-12 | Furlong Stephen | Sell | 193K | $4.27 |
| 2025-03-04 | Furlong Stephen | Sell | 1.9K | $4.48 |
| 2025-03-04 | MACAN WILLIAM ANDREW | Sell | 377 | $4.48 |
| 2025-02-24 | Sullivan Keith J | Grant | 375K | — |
| 2025-02-24 | MACAN WILLIAM ANDREW | Grant | 158K | — |
| 2025-02-24 | Furlong Stephen | Grant | 158K | — |
| 2025-02-19 | Sullivan Keith J | Sell | 24K | $4.70 |
| 2025-02-18 | Sullivan Keith J | Sell | 26K | $4.41 |
| 2025-02-14 | Furlong Stephen | Sell | 17K | $4.11 |
| 2025-02-14 | MACAN WILLIAM ANDREW | Sell | 19K | $4.11 |
| 2025-02-12 | Furlong Stephen | Sell | 11K | $3.83 |
| 2025-02-12 | MACAN WILLIAM ANDREW | Sell | 12K | $3.83 |
| 2025-02-10 | MACAN WILLIAM ANDREW | Sell | 2.0K | $3.28 |
| 2025-02-10 | Sullivan Keith J | Sell | 41K | $3.28 |
| 2025-02-10 | Furlong Stephen | Sell | 15K | $3.28 |
| 2025-02-07 | CONLEY SHERYL L | Other | 44K | $2.25 |
| 2025-02-07 | MUIR GLENN P | Other | 44K | $2.25 |
| 2025-02-07 | Cucuz Sasha | Other | 89K | $2.25 |
| 2025-02-07 | CASCELLA ROBERT | Other | 89K | $2.25 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
- Greenbrook 12% of rev
Suppliers (3)
- Ascential Technologies
- Gharieni Group GmbH
- Molex Incorporated
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Exec/director changeExhibits | filing ↗ |
| 2026-05-29 | Shareholder vote | filing ↗ |
| 2026-05-22 | Exec/director changeExhibits | filing ↗ |
| 2026-05-05 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-06 | Material agreement2.05Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-17 | ResultsExec/director changeReg FDExhibits | filing ↗ |
| 2026-03-02 | Material agreementExhibits | filing ↗ |
| 2026-02-25 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-16 | 0001193125-26-279601 ↗ |
| 8-K | 2026-05-29 | 2026-05-28 | 0001193125-26-248525 ↗ |
| 8-K | 2026-05-22 | 2026-05-18 | 0001193125-26-235481 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001193125-26-205117 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001104659-26-055322 ↗ |
| 8-K | 2026-04-06 | 2026-03-31 | 0001193125-26-143876 ↗ |
| 10-K | 2026-03-17 | 2025-12-31 | 0001104659-26-029004 ↗ |
| 8-K | 2026-03-17 | 2026-03-17 | 0001193125-26-109403 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001193125-26-085509 ↗ |
| 8-K | 2026-02-25 | 2026-02-23 | 0001193125-26-071892 ↗ |
| 8-K | 2026-02-10 | 2026-02-10 | 0001193125-26-044912 ↗ |
| 8-K | 2026-01-22 | 2026-01-15 | 0001193125-26-018674 ↗ |