Neuronetics Electrifies Fourth Quarter Performance: Strong Growth and Operational Milestones Achieved

Neuronetics, a leading player in the mental health industry, has showcased exceptional growth and operational prowess in its fourth quarter 2025 financial results. The company's adjusted pro forma revenue grew by an impressive 23% during this period, driven by robust capital equipment shipment and sustained momentum across its Greenbrook clinic network.

This milestone comes on the heels of Neuronetics' strategic acquisition of Greenbrook last year, where it embarked on a mission to create a vertically integrated mental health company. The successful integration has yielded positive operating cash flow in Q4 2025, a direct result of revenue growth, operational discipline, and improved cash collection.

The Greenbrook clinic network has been a significant contributor to Neuronetics' success story. With full-year clinic revenue growing by 28% on an adjusted pro forma basis, the company has demonstrated its ability to execute growth initiatives effectively. The regional account manager program has played a crucial role in building awareness among referring providers and increasing patient referrals.

In Q4, Neuronetics reported a notable increase of 430 new referring providers, a 25% year-over-year jump, adding to the over 1,300 new referrers added across 2025. This growth was further fueled by increased field engagement, with regional teams completing more than 47,000 physician outreach activities throughout the year.

The company's strategic leadership transition is also noteworthy, as Dan Reuvers takes on the role of President and Chief Executive Officer, effective March 23. With over 30 years in medical devices, Reuvers brings a wealth of experience to drive Neuronetics forward into its next chapter.