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Malvern Today
By the People, for the People
Neuronetics Reports Strong Q4 Results, Announces CEO Transition
Outgoing CEO highlights vertically integrated mental health strategy, positive cash flow, and growth across Greenbrook clinics.
Mar. 18, 2026 at 10:10am
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Neuronetics (NASDAQ:STIM) reported strong fourth-quarter 2025 financial and operating results, including its first full year operating with the Greenbrook clinic network, strong adjusted pro forma revenue growth, and positive operating cash flow. The company also announced a leadership transition, with the board appointing Dan Reuvers as the next president and chief executive officer, effective March 23.
Why it matters
Neuronetics' strategy following the Greenbrook acquisition was to build a 'vertically integrated mental health company' combining technology, clinical infrastructure, and scale to expand patient access to treatment. The strong Q4 results and transition to positive operating cash flow demonstrate the success of this strategy, while the upcoming leadership change signals a new phase of growth for the company.
The details
Management reported strong growth across Greenbrook during 2025, with full-year clinic revenue growing 28% on an adjusted pro forma basis. Neuronetics also saw growth in NeuroStar system shipments and treatment sessions, as well as progress in its BetterMe Provider program and expansion of NeuroStar TMS coverage for adolescents. The company is also leveraging Greenbrook's infrastructure to provide services to NeuroStar customers.
- Neuronetics reported Q4 2025 financial and operating results on March 18, 2026.
- Dan Reuvers will become the company's next president and CEO effective March 23, 2026.
The players
Neuronetics
A commercial-stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders.
Greenbrook
A clinic network that Neuronetics acquired to help build a vertically integrated mental health company.
Keith Sullivan
The outgoing president and CEO of Neuronetics.
Dan Reuvers
The incoming president and CEO of Neuronetics, effective March 23, 2026.
Steve Pfanstiel
The chief financial officer of Neuronetics.
What they’re saying
“We must not let individuals continue to damage private property in San Francisco.”
— Robert Jenkins, San Francisco resident
“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”
— Gordon Edgar, grocery employee
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.
