Neuronetics Q2 2026 results show platform margin beat

Neuronetics, a medical device company focused on mental health treatments, released its Q2 2026 financial results, highlighting a margin beat on its proprietary platform.

The company’s revenue remained flat year-over-year at $25.3 million, matching analyst expectations. However, gross margins expanded to 68.7%, exceeding prior guidance and consensus estimates of 65.2%. Operating expenses totaled $18.9 million, up 5% from the prior year, primarily due to increased R&D and commercialization efforts.

Neuronetics attributed the margin improvement to operational efficiencies and higher utilization of its Transcranial Magnetic Stimulation (TMS) platform. The company also noted a 12% increase in active patient treatments during the quarter, though it did not provide specific unit sales figures.

CEO Keith Sullivan stated that the margin performance reflects the company’s strategic focus on scaling its platform while maintaining cost discipline. "We are pleased with the margin expansion, which underscores the scalability of our platform," Sullivan said.

The company reaffirmed its full-year 2026 revenue guidance of $100 million to $105 million, with gross margins projected to range between 67% and 69%. Analysts had previously forecasted revenue of $102 million and gross margins of 66%.

Shares of Neuronetics were up 3.2% in after-hours trading following the release.