Neuronetics, Inc.

For the period ended Dec 31, 2025. Filed Mar 17, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 17, 2026

STIM$2.01-7.8%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

(In thousands)


· · Years ended December 31,
· · 2025 · · 2024 · · 2023
Cash flows from Operating activities:
Net loss	$(39,135)	$(43,727)	$(30,189)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,465	2,073	2,006
Capitalized software impairment	—	3,956	—
Allowance for credit losses	587	2,055	390
Inventory impairment	388	626	1,905
Share-based compensation	6,848	5,602	7,319
Non-cash interest expense	824	771	634
Loss on extinguishment of debt	—	4,427	—
Loss on disposal of property and equipment	72	28	—
Changes in certain assets and liabilities:
Accounts receivable, net	3,541	(3,727)	(8,831)
Inventory	(395)	3,150	(1,098)
Net investments in sales-type leases	(31)	997	1,193
Prepaid commission expense	958	(1,096)	(1,319)
Prepaid expenses and other assets	4,674	(1,155)	(2,845)
Accounts payable	(1,750)	(1,985)	2,029
Accrued expenses	(502)	(2,083)	(2,243)
Other liabilities	257	(66)	—
Deferred revenue	(175)	(843)	(989)
Net Cash used in Operating activities	(20,374)	(30,997)	(32,038)

Cash flows from Investing activities:
Purchases of property and equipment and capitalized software	(801)	(1,466)	(2,369)
Cash paid for acquisition, net of cash and restricted cash acquired	—	(2,553)	—
Repayment of notes receivable	—	1,606	1,047
Net Cash used in Investing activities	(801)	(2,413)	(1,322)

Cash flows from Financing activities:
Payments of debt issuance costs	(168)	(2,624)	(1,104)
Proceeds from issuance of long-term debt	10,000	57,479	25,000
Repayment of promissory note	(211)	—	—
Repayment of deferred and contingent consideration	(500)	—	—
Proceeds from issuance of warrants	—	2,521	—
Repayment of long-term debt	—	(60,000)	(1,200)
Payment for debt extinguishment cost	—	(4,185)	—
Proceeds from the issuance of common stock	20,700	—	—
Payments of common stock offering issuance costs	(1,731)	—	—
Proceeds from issuance of common stock under ATM Program	8,313	—	—
Payments of common stock offering issuance costs under ATM Program	(472)	—	—
Distribution to non-controlling interest	(94)	—	—
Proceeds from exercises of stock options	13	1	1
Net Cash provided by (used in) Financing activities	35,850	(6,808)	22,697
Net increase (decrease) in Cash, Cash equivalents and Restricted cash	14,675	(40,218)	(10,663)
Cash, Cash equivalents and Restricted cash, Beginning of Period	19,459	59,677	70,340
Cash, Cash equivalents and Restricted cash, End of Period	$34,134	$19,459	$59,677

Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet:
Cash and cash equivalents	28,134	18,459	59,677
Restricted cash and cash equivalents	6,000	1,000	—
Total cash, cash equivalents and restricted cash	$34,134	$19,459	$59,677

Supplemental disclosure of cash flow information:
Cash paid for interest	$7,591	$6,513	$4,790
Transfer of inventory to property and equipment	$106	$92	$210
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment and capitalized software in accounts payable and accrued expenses	$83	$13	$239
Reduction of accounts receivable in current and long-term notes receivable	$—	$606	$6,468

Notes to the consolidated financial statements

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.