Neuronetics (STIM) Q3 2026 Earnings Call Transcript

Daniel L. Reuvers:Thanks, Aman, and good morning, everyone. Thank you for joining us for our third quarter 26 earnings call. I will first walk you through the quarter reviewing our results on each side of the business and then I will turn it over to Nir to discuss our financial results in greater detail. I will then come back with how we are thinking about the rest of the year and the setup for 2027 before opening it up for questions. Turning to the quarter. We continued to execute against the profitability and operating cash goals we outlined earlier in the year, and we made meaningful progress on both fronts.

Total revenue for the quarter was approximately $42 million up over 12% versus the third quarter of last year. The results reflect a record quarter for NeuroStar system sales driven by a welcome reception from customers toward our expanded go to market strategy as well as continued strength within our Greenbrook clinics as we realized ongoing impacts of our revenue cycle management efforts. Diving deeper into our NeuroStar performance, let me start there. Total worldwide revenue was $15.8 million up approximately 2% year over year. This was primarily driven by our capital equipment business, where we had a record quarter of system sales.

We saw strong double digit year over year performance here and I believe it is being positively impacted by the go to market changes we introduced earlier this year. Notably, we believe many of these placements are with customers we would not have been able to compete for with our prior approach. Including a recently awarded sole source agreement with a large national player. The strength of our capital business was partly offset by Sessions revenue being down versus last year, which was expected. As we implement our new sales strategy. We continue to expect the overall revenue mix to be weighed more towards NeuroStar Capital versus Sessions going forward as we execute on our plan.

As such, we expect session revenue to continue to trend slightly downwards. We believe that our go to market changes position us well to compete in a broader segment of the market and expect to yield higher overall net growth in 2027 and beyond. it is also worth reiterating that for customers preferring our treatment session model built around a high touch partnership with Neuronetics, nothing changes. We believe this sessions model continues to set us apart. As we believe we are uniquely equipped to help emerging TMS practices establish a profitable therapy adjunct. NeuroStar customers perform almost twice as many treatments per chair as the competitive landscape.

A velocity differentiator we believe directly reflects the support and affirmation of value we bring. During the quarter, we also had several noteworthy that reinforced our commitment to growing the NeuroStar platform. On the regulatory front, in August, we submitted a 510(k) to the FDA for an accelerated TMS protocol and is currently under review. We expect that condensed protocols can be an advantage for some patients. And this could be another way to expand access to TMS for even more patients. We also had an important publication in the TMS journal titled The Impact of Treatment Gaps on the Effectiveness of Transcranial Magnetic Stimulation in major depressive disorder.

The paper reflected analysis of over 6.4 thousand patients whose depression was treated with NeuroStar under real world conditions. It showed that approximately 15% of patients completed their treatment course with no gaps, leaving 85% of patients who missed 1 or more scheduled treatment days. Since missed days can be common, patients and physicians often wonder if a missed treatment day may negatively affect outcomes. The analysis found that there was no statistically significant difference in outcome between patients that experienced a gap in their treatment versus those that did not. It further concluded that missing treatment for up to 13 days did not reduce effectiveness. This is an important consideration as patients may otherwise put off initiating treatment.

Based on their availability to commit to an uninterrupted sequence of days. Lastly, we signed a distribution agreement with Wave Neuroscience to integrate its MeRT system with NeuroStar. MeRT uses EEG data to personalize TMS protocols and received FDA clearance in June for treating adults with post-traumatic stress disorder achieving 68% remission in its pivotal trial. Prior to launch, we plan to seek FDA clearance to add NeuroStar as a TMS system compatible with Wave Neuroscience's PTSD indication. Approximately 9 million US adults experience PTSD annually with an estimated 4+ million of those seeking treatment. Thus, this partnership represents a significant opportunity to expand NeuroStar's clinical application.

On the operational front, we announced in September what we believe is the first ever integration between a TMS system and an electronic health record, or EHR, connecting our TrackStar practice management platform with AdvancedMD. A cloud based EHR practice management and revenue cycle platform serving more than 65 thousand practitioners across 13 thousand independent practices including our own Greenbrook clinics. Delivering TMS means coordinating care across a multi session course of treatment. Along with documentation and clinical notes, while claims and authorizations are often managed in separate systems. This creates duplicate work for practices. With this integration, treatment data flows into the same system where a practice manages its schedule, clinical records, and notes. And revenue cycle.

It will be available in the fourth quarter to NeuroStar providers already using AdvancedMD. We use AdvancedMD as our EHR at our Greenbrook clinics. So we expect to benefit from this efficiency just like our NeuroStar customers. This inaugural integration further paves the way for us to integrate Trackstar into additional EHRs. Extending additional practice efficiencies to NeuroStar customers and prospects alike. Moving to Greenbrook. Revenue was approximately $26 million up over 20% year over year. Our work on revenue cycle management continued to produce results with better patient qualification, cleaner claims, and more efficient collections. All helping us convert more of each billed dollar to cash. This quarter, we also began deploying Skypoint an AI enabled coding optimization tool.

Which builds on automation technology established earlier this year This advances the operational discipline we have been building throughout the organization by ensuring insurance claims are submitted quickly, and accurately. We are very encouraged by the early results and believe there is still runway ahead for us. We continue to believe that filling the capacity in our existing clinic remains an important profitability lever. Our focus will continue to be on finding the most efficient ways to serve even more qualified patients that can benefit from our therapies. 2 key measures that we monitor closely are relative return on our direct to consumer advertising and field sales team effectiveness.

We determined based on what we are seeing to date, that field sales personnel deliver the better return and give us more control over patient acquisition cost and yield. As a result, we are shifting a portion of our direct to consumer ad spend towards expanding our Greenbrook field sales team. We expect this to sponsor a bigger sales team without increasing overall sales and marketing expense. We plan to begin this process in the fourth quarter We expect the new reps to be fully ramped up and contribute meaningfully by mid 27. As we execute this strategy, we will update you on our progress. Overall, this quarter, we continued doing what matters most.

Executing against our new go to market strategy for NeuroStar while competing for customers who were previously out of reach running our Greenbrook clinics more efficiently and delivering on our goals towards profitability and cash generation. With that, I will turn it over to Nir to take you through the financials and I will come back with our outlook for the rest of the year. Nir?

Nir Naor:Thank you, Daniel, and good morning, everyone. Unless otherwise noted, all comparisons are third quarter 26 versus third quarter 25. Total revenue in the third quarter was $42 million an increase of 12.5% compared to $37.3 million in the third quarter of 25. The increase was primarily driven by higher Green Brick revenue. Greenbrook revenue was $26.2 million a 20.1% increase. These results reflect continued growth of our Greenbrook business and operational gains across our clinics. NeuroStar revenue was $15.8 million an increase of 1.8%. As Dan explained, strong capital sales were partially offset by a decline in physician revenue as we implement our new go to market strategy.

Gross margin was 52.2% in the third quarter of 26 compared to 45.9% in the prior year quarter. The increase was driven by positive impact of our new go to market strategy and improved revenue cycle management within the Greenbrook Clinic. Operating expenses during the quarter were $21.3 million a decrease of 3.1 million or 12.6% compared to $24.4 million in the third quarter of 25. This was primarily due to lower sales and marketing expenses partially offset by higher general and administrative expenses.

Income from operations was $5 million compared to a loss of $7.3 million in the prior year quarter an improvement of $7.9 million Net loss attributable to Neuronetics stockholders was $1.7 million or $0.02 per share as compared to a net loss of $9 million or $0.13 per share in the prior year. Third quarter adjusted EBITDA was $1.9 million as compared to a loss of $4.7 million in the prior year improvement of $6.6 million Moving to the balance sheet and cash flow. As of September 30, total cash was $27.9 million of $22.9 million of cash and cash equivalent and $5.8 million of restricted cash as compared to total cash of $34.1 million as of December 31, 2025.

Cash provided by operating and investing in the third quarter was $800 thousand compared to negative cash flow from operating and investing of $900 thousand in the prior year. Now turning to guidance. For the full year 2026, we expect total revenue between $160 million and $164 million unchanged from previous guidance. Gross margin between 49-50% compared to prior guidance of 48% to 50%. Operating expenses, excluding stock based compensation of between $89 million and $92 million with estimated stock based compensation of $3.5 million compared to prior guidance of $91 million to $96 million in stock based compensation of $4 million.

Operating expenses between $92.5 million and $95.5 million compared to prior guidance of $95 million $100 million Cash flow from operating and investing in the range of negative $10 million to negative $12 million compared to prior guidance of negative $10.5 million to negative $14.5 million. We continue to target limited to no net cash utilization from operating and investing in the second half of the year. In summary, this was a quarter of solid financial progress. We grew revenue, expanded gross margin, reduced operating expenses, and delivered positive EBITDA and positive cash flow from operating and investing. Our goal is to turn this progress into sustained profitability and cash flow generation.

And I look forward to building on this momentum into Q4 and next year. With that, I will turn it back to Daniel for his closing remarks.

Daniel L. Reuvers:Thank you, Nir. I would like to take this time to recognize and thank our Neuronetics colleagues for their efforts in the clinics, field, and across the organization. Their effort is what delivers value to our patients, and the strong performance we are seeing. As Nir discussed, we are pleased to have delivered another strong quarter. Driven by both our go to market strategy in NeuroStar, as well as our continued momentum at Greenbrook. At the same time, we are making meaningful progress toward profitability and cash generation. And we believe we are well positioned for sustained overall growth in 2027.

In addition to the progress we have been making with NeuroStar, Green Brook, and operationally, we also continued our collaboration with Compass Pathways to prepare for the anticipated commercial launch of their psychedelic therapeutic, for treatment resistant depression. Or TRD, COMPASS recently reported 52-week data from its Phase III COMP-005 trial, showing that an additional dose of COMP360 extended the benefit in TRD out to 1 year which we believe further supports COMP360's differentiated profile and potential for long lasting benefits. Compass has reported that they expect to complete their FDA submission in 2 weeks. With a launch expected in the first half of 27.

We continue to believe therapies like this will need exactly the kind of delivery platform that we already operate for Spravato. Including a dignified in office drug administration experience. Along with monitoring, REMS programs, trained clinical staff, benefits investigation, and prior authorization infrastructure. Greenbrook's experience, scale, and available capacity position us to be an early leader as we look forward to providing the most comprehensive menu of interventional psychiatry options for patients. Looking to the fourth quarter, we continue to expect NeuroStar revenue mix to be weighed slightly towards NeuroStar capital as our expanded go to market and targeting efforts take root. For Greenbrook, we are deliberately rebalancing our sales and marketing spend.

With the goal of positioning us for sustained growth in 2027. And with that, operator, we are ready to open the line for questions.

Operator:Thank you both. At this time, we will conduct the question and answer session. Our first question comes from the line of William Plovanic with Canaccord. John, your line is open.

Analyst:Hey, guys. Congratulations on the quarter end. I want to focus on Greenbrook and the performance that you are seeing there. How much of the growth in Q3 was pricing or revenue cycle gains versus just overall patient volume increases? And can you talk about the unused capacity that continues to exist today?

Daniel L. Reuvers:Sure. Thanks, John, for the questions. First of all, revenue cycle management, I would say, is an area that we have continued to demonstrate really solid progress. So the growth was a combination of revenue cycle management and we saw growth in Spravato as well. I think we have described the Spravato business as certainly more durable because there is a maintenance phase that patients continue within once they come into network. So it is really a combination between those 2. I am really. I am pleased with the revenue cycle progress we continue to make as well. I think it really demonstrates that we are positioning ourselves foundationally with just a better run business.

From an occupancy standpoint, that continues to be an area of focus, and it is 1 of the reasons that we are making some of the changes in our go to market approach commercially, trying to put more of our resources into expanding the sales team and revisiting the utility or efficiency of our direct to consumer ad approach. You know, we have got a pretty big range, John, in occupancy. I would say it is as low as 25% probably at the bottom and as high as 75% in our highest performers. But, clearly, that is a big range, we want to continue to move that bottom quartile up.

So, you know, I think the some of the changes that we are making, as I said, we expect we will certainly have impact as we go into 2027. Thanks, Daniel. And then just to double click on too. I think last time we checked, you are at 84 sites that you are offering it. Has that changed? And then looking at J&J, and their reported sales, I believe Spravato grew about 36% year-over-year. I am not sure if you are willing to quantify the contribution and dollar amount that it contribute in Q3, but that a good way to think about your growth as well, that 36% year-over-year growth? Yeah.

I do not know if we have given that number in Spravato growth. But, certainly, as I mentioned, we have seen double digit growth in Spravato. And again, I think it is it is a laddered approach, as patients come into network and then continue on maintenance phase. So, the growth that we do see in Spravato, we expect will continue to be quite durable. Thanks again. Thanks, John.

Operator:Our next question is from Adam Maeder with B. Riley. Madison, your line is open.

Analyst:Hi, guys. Thanks for taking our question, and congrats on the progress. A couple from us. Maybe on the Compass pilot, have. You said how many clinics would be involved in that pilot program. I am curious how you pick them. And what needs to be true before you would roll this out across the network. And Greenbrook ran a Spravato pilot back in 2021, obviously, that was in the wake of COVID, but just wondering if that is a good proxy. And then follow-up, if I may, afterwards.

Daniel L. Reuvers:Yeah. Thanks for the question, Madison. We have not shared how many sites we are going to introduce initially, but I think it is fair to assume we will probably initially start with a bit of a hub and spoke model. I do not know that we feel obligated to provide it in every 1 of our 84 Spravato clinics that exist today as much as we want to be in each of the MSAs. That we are in. I think that. that is probably the key for us. We expect we will learn a lot with the introduction. And what we are focused on right now are the work streams that are within our control.

So things like making sure that we have got training programs and curriculums clearly established for both our caregivers and our sales teams. And, I think the next 1 is, taking an extension of that once our sales teams are trained making sure that we have got a very thoughtful and targeted approach to h outreach, from our field teams. And then, you know, our whole benefit investigation piece and payer relations team is also attempting to ramp up their readiness. You know, a lot of this in the early days is still gonna be hand to hand combat. I mean, single case agreements initially will likely rule the day.

Until we see some of the, the coverage components become a bit more mature. But, ultimately, we are. You know, we have got a very dedicated work stream to each of those And we are downstream, with our mitts open and ready to catch. Awesome. Thanks for that color. And if I may, a second question related to NeuroStar Sorry if I missed this. But how much of the record system sales was capital lease capital and lease conversions of your existing session customers versus new accounts And then did treatment volume on the installed base grow in Q2? Thanks. Sure. Yeah. First, the question about mix. We do continue to see our mix moving more towards capital and lease.

We are not recognizing unit sales it is an existing customer that just, you know, paid off something. So these are new box or new chairs and new systems that are going out. When we talk about a record number of units. I think the other thing that we saw was over half of all of our units sold in Q3 were capital or lease units. That was good for ASP. it is also good for gross margin. And I think it is also a reflection that our customers appreciate the choices that we have given them. You know, we are allowing customers to determine where the value they think is.

And while the sessions, did grow among like customers, so customers that were customers a year ago, modest, but, we did see growth on the session side from those customers. What we are also seeing is that when we start to focus more on larger accounts, multisite accounts, national accounts, enterprise, some of the things that have kind of become our hallmark, which is can help you with marketing. We can help you build your practice with co op. We can help you with training. Reimbursement assistance, benefits investigation. I mean, bigger systems they do not need some of those things like the private practice psychiatry offices do.

So that is why again, we made the choice to expand our aperture on how we go to market And we have been actually quite pleased on the kind of reception we are getting from each independent type of customer. We think we have got a value proposition for them. Got it. Makes sense. Congrats again on the quarter. Thank you.

Operator:Thank you, Madison. Our next question comes from the line of Sam Eiber with U. S. Bancorp BTIG. Sam, your line is open.

Sam Eiber:Thank you. Good morning. Thanks for taking the questions and congrats on a nice quarter here. Maybe I can start on Greenbrook and come back to the revenue cycle management improvements. I guess I am curious the durability of some of the progress that you made there and ability to keep advancing some of that benefit into 2027. And then I will have a quick follow-up question.

Daniel L. Reuvers:Sure. Thanks, Sam, I think I have talked a lot about the value drivers within Green Brook. And I think foundationally, the first 1 is continued demonstration of improvement. of our revenue cycle management approach. I think that the short answer is I think most of these changes are quite durable. You know, we talked a little bit about deploying an AI enabled new partner Skypoint. there is a lot of components of processing a claim that are largely labor intensive. We have to pair clinic notes depending on who the payer is, what the requirement is. Making sure that we are matching up, everything for each individual payer.

Starting to use some software tools, including some AI optimization, is bearing fruit. I can tell you that when we deployed Skypoint, just that change in workflow has led to a low double digit improvement in the first month of collections. So we do not obviously collect, all of our collections in the first month. You know, there is some that gets comes in month 2, month 3, month 4. But, importantly, the faster we can collect, the better it is for the business, of course. And we saw meaningful progress from some of those changes. It also reduced some of the headcount in the back office. Which we were able to redirect into some other roles.

So I do think that there is both durable impact from our efforts, and I think there is continued improvement available to us. But I would also add, we are going to have to keep climbing a little higher on the tree to find the fruit. As we continue to get better, you know, the improvements will become a bit more modest. But I do think that there is more runway ahead for us. Okay.

Nir Naor:Just to build on that, Sam, so yeah, as Daniel mentioned, the very nice improvement that we have done you know, some further improvements that we can do just built off of them. And, basically, the only thing if you look at our say, gross margin compared to the prior year, those improvements are for the most part, durable. The ones that are not are simply some prior period RCM catch ups. But, otherwise, yeah, they are durable, and we are building on them.

Sam Eiber:Okay. that is great. Makes sense. And then a quick follow-up on the EHR integrations. I am curious how much of a selling point and maybe a competitive advantage that is, seamlessly integrating the EMR platform And then I think you hinted at maybe additional integrations coming with maybe some of the bigger platforms. Curious if able to put any sort of time line on when that might be. Thanks for taking the questions.

Daniel L. Reuvers:Sure. Yeah. I think that the AMD Trackstar integration was an important first step for us. And, there is a fairly fragmented EHR network of providers out there. AMD is the larger of a pretty long tail of EHRs. So that is why we selected them. We also selected them in part because that is who we use at Greenbrook. So not only could we benefit from the efficiencies of integrating the EHR with TrackStar, but we can also obviously bring it to our NeuroStar customers.

Our goal is to make sure that we are focused on existing AMD customers that are not yet NeuroStar customers because we think that we bring another very unique value proposition that is unavailable to our competitors. there is a lot of work that goes on in managing the documentation within health care as you know. So charting, all the clinic notes, etcetera, often have to be transcribed, entered into 2 places, This allows, our clinician customers to be able to do that just once. It also enriches our own Trackstar data.

We have talked a lot about how rich and unique the database that we continue to collect within Trackstar is this will allow us to start to collect even more information on each of those patient experiences, including was the patient pregnant? What medications were they on, all of which I think can continue to be a powerful pool of data that will be available to us. I think as far as next EHR partners, we are gonna monitor, how we do with the existing AMD user base. Assuming that we can demonstrate the improvements in our customers find value in that, certainly, we will start to sequence the second and third and subsequent EHRs.

We have got a pretty good prioritized list but, I wanna see, that we can make sure that we demonstrate the value through the AMD partnership, as a bit of a predicate.

Operator:Thank you, Sam. Our final question comes from the line of Daniel Stauder with Citizens JMP. Daniel, your line is open.

Daniel Stauder:Yeah. Great for taking the questions. I just wanted to follow-up on some of the questions for on the segment level in terms of margins, specifically on clinic. So, strong improvement,, gross margin even more so on the operating margin. And you gave some commentary there already. But was there anything else beyond your progress on efficiency and workflow there that led to a benefit maybe you know, broader change in the average occupancy or some product mix benefits within clinics. And it sounds like you still think there is room to improve, but with that incremental sales rep investment, do you think that is gonna be absorbed pretty well into margins? Just how should we think about that?

Thank you.

Daniel L. Reuvers:Sure. Yeah. I think there is probably 2 components to the margin, and let me just revisit the rep cost issue. On Greenbrook, most of the margin improvement was better revenue cycle management. More so than mix. I think on the NeuroStar side, it is a mix function. You know, we continue to see, as I said, more than half of our capital units went out. More than half of our units went out as capital or lease purchases. When that happens, they go out at a premium. So I think the combination between those 2 were probably the most significant contributors on the gross margin side. Just back to the rep cost.

Our goal is to add 8 reps to our already in base of 20 that would take us to 28 by sometime in Q1. We do not expect any incremental cost associated with that and it does not. it is not magic. it is just we are gonna repurpose a number of the dollars that are going into direct to consumer ads and sponsor more salespeople. And we have done enough data dive to be quite convinced. That our return on our field salespeople is much higher. First of all, they have access to, pharma data We know who the prescribers are. At a primary care or psychiatry office in the communities where we have Greenbrook clinics.

We also know, how many patients each of them treat with 2 or more MDD drugs. So it is easier to target the right audience. And what we find is the patients that are referred to us from those practices come in much better qualified and more likely for us to be able to help them. Patients who come in through DTC while they are well intentioned, we would love to help them. If they do not qualify, if they have not failed on 2 meds, we cannot. Yet it can, clog up our intake teams as well. Trying to help patients that ultimately will not qualify, and we cannot get them into a treatment room.

So, I think that we expect the yield to be better and we also expect that, our allocation of sales and marketing dollars to provide a better return for us. that is great color. Thank you for that.

Daniel Stauder:And just a follow-up there. You hit on NeuroStar margins just for some of the shifting dynamics with capital, even within capital and session mix. How should we think about a more steady state gross margin here as this normalizes? Are the levels we have seen this quarter and in 2Q what we should think about going forward? Or is there any you know, puts and takes we should consider? Thank you.

Daniel L. Reuvers:Yeah. I do not know that I would predict any dramatic swings in gross margin on NeuroStar. I think we are already starting to see you know, the mix settle in a little bit more to a predictable state mix. So I think we are starting to see a reflection of what that margin might look like. So I think you know, it continues to depend on what the adoption rates are in our offering But at this point, I do not know that I would expect any dramatic swings either way on gross margin for what we have seen more recently.

Daniel Stauder:Great. I will just try to squeeze 1 in more in here. Just you talked about some of that data on gap in treatment and missed days. Do you feel that this could alter how providers think about treatment regimens in the future and how could that give patients more flex. Flexibility and optionality? And what is the pathway for that potential change becoming a reality. Thank you.

Daniel L. Reuvers:Yeah. I think that is a great question, and I think it is an important 1. This is the reference to the article in the TMS journal that we had published demonstrating that a patient could miss days, as many as 13 days, does not mean that they do not get their full treatment. It just means that there could be lapses in those days and with up to 13 days of mistreatments there was no demonstrated reduction in effectiveness.

And I think the relevance there is that for patients that have been reluctant to say yes I will go ahead and start a regime of TMS, I think a lot of them may, like all of us in life, life's busy. And, gee, I have got a-- I have got a commitment next week or there is a holiday trip I am gonna take or I. You know, I am-- my kids are off school that day or I cannot get off work. Whatever it might be, it is a commitment. To be, in TMS therapy for 7 weeks.

The ability to be able to understand that I can actually take a break and still get the benefit I think, is a, you know, it is a welcome mat. For patients that have been reluctant to start or for referral sources for the same reasons. Who have been reluctant to send them our way. And then even in the fourth quarter, you think about holidays. A lot of times, patients may be reluctant to start. The message that, I think this sends resoundingly is start now. Do not wait. If there has to be a break, there has to be a break. But suffering from suffering from depression can be a debilitating condition.

So, we wanna help patients start to initiate their therapy as quickly as we can.

Operator:Thank you for your questions, Daniel. This concludes the question and answer session. I would now like to turn it back to Daniel L. Reuvers for final remarks. Daniel?

Daniel L. Reuvers:Thank you, and thanks for everybody for participating and joining us for the call. We are delighted to continue to demonstrate progress, and we certainly look forward to sharing our full year results, once they are completed, in 2027. Until then, thank you again.

Operator:We appreciate you for participating in today's conference call. This does conclude the presentation. You may now disconnect. Thank you.

Should you buy stock in Neuronetics right now?

Before you buy stock in Neuronetics, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Neuronetics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflixmade this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $342,020!* Or when Nvidiamade this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,270,017!*

Now, it's worth noting Stock Advisor's total average return is 885% — a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor , and join an investing community built by individual investors for individual investors.

See the 10 stocks »

*Stock Advisor returns as of November 4, 2026.

This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .

Neuronetics (STIM) Q3 2026 Earnings Call Transcript was originally published by The Motley Fool