Neuronetics (STIM)
Market Price (4/15/2026): $1.42 | Market Cap: $97.7 MilSector: Health Care | Industry: Life Sciences Tools & Services
Neuronetics (STIM)
Market Price (4/15/2026): $1.42Market Cap: $97.7 MilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 99% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -53% Megatrend and thematic driversMegatrends include Neuroscience & Brain Health, and Medical Device Innovation. Themes include Neuromodulation Therapies, Mental Health Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -101%, 3Y Excs Rtn is -108% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 63% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -14% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -44% Key risksSTIM key risks include [1] its documented history of financial losses and challenges in achieving profitability and [2] a heavy revenue reliance on its single NeuroStar Advanced Therapy System. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 99% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -53% |
| Megatrend and thematic driversMegatrends include Neuroscience & Brain Health, and Medical Device Innovation. Themes include Neuromodulation Therapies, Mental Health Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -101%, 3Y Excs Rtn is -108% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 63% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -14% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -44% |
| Key risksSTIM key risks include [1] its documented history of financial losses and challenges in achieving profitability and [2] a heavy revenue reliance on its single NeuroStar Advanced Therapy System. |
Qualitative Assessment
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Neuronetics (STIM) stock has gained about 5% since 12/31/2025 because of the following key factors:
1. Mixed Financial Outlook and Ongoing Profitability Concerns. Neuronetics reported strong Q4 2025 revenue of $41.8 million, an 86% increase year-over-year as reported, and exceeded analyst EPS estimates for the quarter. However, the company reaffirmed its full-year 2026 guidance, projecting an operating cash flow loss between $13 million and $17 million, with cash flow expected to turn positive only in the second half of 2026. The gross margin for 2025 also fell to 48.5% due to the inclusion of the lower-margin clinic business from the Greenbrook acquisition, tempering enthusiasm despite revenue growth.
2. Executive Leadership Transitions and Restructuring Efforts. The company experienced significant executive turnover with Dan Reuvers appointed CEO effective March 23, 2026, replacing retiring CEO Keith J. Sullivan, and CFO Steven E. Pfanstiel announcing his resignation effective May 1, 2026. Simultaneously, Neuronetics initiated a workforce reduction impacting up to 5% of its employees, aiming for annualized cost savings of $2.5 million to $3.0 million. While these actions are intended to optimize costs, the dual leadership transitions and restructuring introduce a degree of uncertainty regarding near-term operational stability and strategic execution.
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1. Mixed Financial Outlook and Ongoing Profitability Concerns. Neuronetics reported strong Q4 2025 revenue of $41.8 million, an 86% increase year-over-year as reported, and exceeded analyst EPS estimates for the quarter. However, the company reaffirmed its full-year 2026 guidance, projecting an operating cash flow loss between $13 million and $17 million, with cash flow expected to turn positive only in the second half of 2026. The gross margin for 2025 also fell to 48.5% due to the inclusion of the lower-margin clinic business from the Greenbrook acquisition, tempering enthusiasm despite revenue growth.
2. Executive Leadership Transitions and Restructuring Efforts. The company experienced significant executive turnover with Dan Reuvers appointed CEO effective March 23, 2026, replacing retiring CEO Keith J. Sullivan, and CFO Steven E. Pfanstiel announcing his resignation effective May 1, 2026. Simultaneously, Neuronetics initiated a workforce reduction impacting up to 5% of its employees, aiming for annualized cost savings of $2.5 million to $3.0 million. While these actions are intended to optimize costs, the dual leadership transitions and restructuring introduce a degree of uncertainty regarding near-term operational stability and strategic execution.
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Stock Movement Drivers
Fundamental Drivers
The 3.6% change in STIM stock from 12/31/2025 to 4/14/2026 was primarily driven by a 14.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 12312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.38 | 1.43 | 3.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 130 | 149 | 14.8% |
| P/S Multiple | 0.7 | 0.7 | -7.8% |
| Shares Outstanding (Mil) | 67 | 69 | -2.1% |
| Cumulative Contribution | 3.6% |
Market Drivers
12/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| STIM | 3.6% | |
| Market (SPY) | -5.4% | 29.5% |
| Sector (XLV) | -3.9% | 9.8% |
Fundamental Drivers
The -47.6% change in STIM stock from 9/30/2025 to 4/14/2026 was primarily driven by a -59.4% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.73 | 1.43 | -47.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 111 | 149 | 34.2% |
| P/S Multiple | 1.6 | 0.7 | -59.4% |
| Shares Outstanding (Mil) | 66 | 69 | -3.8% |
| Cumulative Contribution | -47.6% |
Market Drivers
9/30/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| STIM | -47.6% | |
| Market (SPY) | -2.9% | 27.3% |
| Sector (XLV) | 7.4% | 18.2% |
Fundamental Drivers
The -61.1% change in STIM stock from 3/31/2025 to 4/14/2026 was primarily driven by a -63.9% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.68 | 1.43 | -61.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 75 | 149 | 99.2% |
| P/S Multiple | 1.8 | 0.7 | -63.9% |
| Shares Outstanding (Mil) | 37 | 69 | -46.0% |
| Cumulative Contribution | -61.1% |
Market Drivers
3/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| STIM | -61.1% | |
| Market (SPY) | 16.3% | 35.8% |
| Sector (XLV) | 3.3% | 23.4% |
Fundamental Drivers
The -50.9% change in STIM stock from 3/31/2023 to 4/14/2026 was primarily driven by a -60.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312023 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.91 | 1.43 | -50.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 65 | 149 | 128.7% |
| P/S Multiple | 1.2 | 0.7 | -45.7% |
| Shares Outstanding (Mil) | 27 | 69 | -60.4% |
| Cumulative Contribution | -50.9% |
Market Drivers
3/31/2023 to 4/14/2026| Return | Correlation | |
|---|---|---|
| STIM | -50.9% | |
| Market (SPY) | 63.3% | 22.4% |
| Sector (XLV) | 20.4% | 15.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STIM Return | -60% | 54% | -58% | -44% | -14% | -2% | -88% |
| Peers Return | -3% | 25% | -4% | -3% | 65% | 5% | 95% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 81% |
Monthly Win Rates [3] | |||||||
| STIM Win Rate | 33% | 50% | 25% | 42% | 33% | 50% | |
| Peers Win Rate | 53% | 56% | 47% | 47% | 64% | 58% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| STIM Max Drawdown | -65% | -53% | -85% | -79% | -21% | -12% | |
| Peers Max Drawdown | -28% | -33% | -23% | -14% | -11% | -7% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LIVN, AXSM, JNJ.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/14/2026 (YTD)
How Low Can It Go
| Event | STIM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -95.1% | -25.4% |
| % Gain to Breakeven | 1925.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -71.6% | -33.9% |
| % Gain to Breakeven | 251.6% | 51.3% |
| Time to Breakeven | 141 days | 148 days |
| 2018 Correction | ||
| % Loss | -89.3% | -19.8% |
| % Gain to Breakeven | 831.5% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to LIVN, AXSM, JNJ
In The Past
Neuronetics's stock fell -95.1% during the 2022 Inflation Shock from a high on 1/22/2021. A -95.1% loss requires a 1925.7% gain to breakeven.
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About Neuronetics (STIM)
Neuronetics, Inc., a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder. Its NeuroStar Advanced Therapy System uses transcranial magnetic stimulation to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The company sells its products through its sales and customer support team to psychiatrists. Neuronetics, Inc. was incorporated in 2001 and is headquartered in Malvern, Pennsylvania.
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Here are 1-3 brief analogies for Neuronetics (STIM):
- Like a device-focused **Eli Lilly or Pfizer for depression**, using magnetic stimulation instead of medication.
- Similar to **Intuitive Surgical (maker of da Vinci robots) for brain stimulation in mental health**, providing a specialized non-invasive device for treatment.
- Think of them as the **Align Technology (Invisalign) for brain health**, offering a non-invasive physical device to treat major depressive disorder.
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- NeuroStar Advanced Therapy System: This system is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation to treat adult patients with major depressive disorder.
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Neuronetics, Inc. (STIM) primarily sells its NeuroStar Advanced Therapy System to **psychiatrists**. These customers are typically individual psychiatrists in private practice, psychiatric clinics, group practices, or hospitals and larger healthcare systems with psychiatry departments. Since these customers are generally not large, publicly traded companies, specific names of major customer companies and their symbols cannot be provided. Instead, the company serves the following categories of customers:- Psychiatrists operating private practices.
- Psychiatric clinics and group practices.
- Hospitals and other healthcare institutions with psychiatry departments.
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Here is the management team for Neuronetics (symbol: STIM):Keith J. Sullivan, President & Chief Executive Officer
Mr. Sullivan was appointed CEO in July 2020. He brings over three decades of experience in the medical device industry. Prior to joining Neuronetics, he served as Chief Commercial Officer and President (North America) of ZELTIQ Aesthetics, Inc., a medical technology company, until its acquisition by Allergan, Inc. in April 2017. He also held leadership positions at Medicis Pharmaceuticals, Reliant Technologies, Medtronic, Vision Quest Laser Center, and Coherent Medical. Mr. Sullivan currently serves on the Board of Directors of Venus Concept. He announced his intention to retire effective June 30, 2026.
Steven Pfanstiel, Executive Vice President, Chief Financial Officer, and Treasurer
Mr. Pfanstiel was appointed as Neuronetics' CFO, effective July 15, 2025. He has over 20 years of financial expertise in the healthcare sector. Before joining Neuronetics, he served as the Chief Financial Officer at Marinus Pharmaceuticals.
W. Andrew Macan, Executive Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary
Mr. Macan is listed as an Executive Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary for Neuronetics. His background includes serving as General Counsel for the company.
Cory Anderson, Vice President, Clinical Affairs and Medical Operations
Mr. Anderson was appointed Vice President, Clinical Affairs and Medical Operations in March 2021, taking on interim leadership of R&D and clinical functions. He brings over 20 years of medical technology experience and executive leadership from medical device startup companies. Prior to Neuronetics, he was Vice President, Business Development and Marketing (Corporate Officer) at Sebacia, where he led phase IV clinical trials and guided the R&D pipeline. He also served as VP Business Development at The Innovation Factory and a Principal at Accuitive Medical Ventures, an early investor in Neuronetics.
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The key risks to Neuronetics' business include its ongoing financial challenges, heavy reliance on its NeuroStar Advanced Therapy System, and the combined pressures of regulatory uncertainty, reimbursement policies, and a competitive market.
- Financial Challenges and History of Losses: Neuronetics has a history of operating losses and faces significant challenges in achieving and sustaining profitability. The company's financial strength is rated as poor, with high debt levels and an Altman Z-Score indicating potential financial distress. Despite projected revenue growth, the company is expected to remain unprofitable for at least the next three years, grappling with negative operating and net margins, and high operating expenses.
- Heavy Reliance on NeuroStar Advanced Therapy System: The company's revenue is predominantly generated from the NeuroStar system, making it highly vulnerable to market fluctuations, competitive pressures, or any developments that could impact the product's standing. While Neuronetics is exploring new indications and expanding its market, this dependence on a single core product is a significant concentration risk.
- Regulatory, Reimbursement, and Competitive Pressures: Neuronetics operates in a highly regulated medical technology sector and faces ongoing risks related to changes in healthcare regulations and the process of obtaining and maintaining regulatory approvals for its devices and expanded indications. Furthermore, the availability and adequacy of coverage and reimbursement from third-party payors are critical for patient access and revenue growth. The company also operates within a competitive landscape with other transcranial magnetic stimulation (TMS) device manufacturers, such as BrainsWay and MagVenture, which can impact market share and pricing.
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Neuronetics, Inc. (STIM) primarily offers the NeuroStar Advanced Therapy System for the treatment of Major Depressive Disorder (MDD).
The addressable market for their main product, NeuroStar Advanced Therapy for MDD, is approximately 29.3 million patients in the United States. This figure increased by approximately 35% with the addition of the adolescent indication (ages 15-21) for MDD in March 2024. Previously, the adult MDD market in the U.S. was estimated at 21 million Americans.
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Expected Drivers of Future Revenue Growth for Neuronetics (STIM) Over the Next 2-3 Years
Neuronetics (NASDAQ: STIM) is positioned for future revenue growth over the next two to three years, driven by several strategic initiatives and market expansions.- Synergies and Expanded Clinic Network from Greenbrook TMS Acquisition: The acquisition and successful integration of Greenbrook TMS in December 2024 is a primary driver of revenue growth. This strategic move transformed Neuronetics into a vertically integrated company, adding over 95 treatment clinics across the United States. The integration is expected to yield substantial revenue contributions from clinic operations, enhance operational efficiencies, and realize annualized cost synergies.
- Expansion into the Adolescent Depression Market: The FDA clearance of NeuroStar Advanced Therapy as a first-line add-on treatment for adolescents (aged 15-21) with major depressive disorder (MDD) significantly broadens Neuronetics' addressable market. This expansion is projected to increase the total addressable market by approximately 35%, opening up a new and substantial patient demographic for NeuroStar therapy.
- Increased Utilization and Patient Volume within Existing and New Clinics: Growth in treatment session volume for NeuroStar systems and higher patient volumes at Greenbrook clinics are anticipated to drive revenue. Initiatives such as the "Better Me Provider (BMP) program," launched in July 2024, are designed to enhance patient care and accessibility, leading to a greater number of patients receiving treatment and increasing the utilization of NeuroStar devices.
- Capital Sales of NeuroStar Advanced Therapy Systems: The continued sale and placement of NeuroStar systems to psychiatrists and clinics remain a critical revenue driver. While there can be quarterly fluctuations in system sales, the company aims for consistent shipments and has demonstrated strong average selling prices per system, contributing to initial capital revenue and subsequent recurring revenue from proprietary treatment session consumables. Strategic initiatives like NeuroStar summits further support system adoption.
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Share Issuance
- In January 2021, Neuronetics conducted a public offering of 4,840,000 shares of common stock at $15.50 per share, raising approximately $75.0 million in gross proceeds, intended for general corporate purposes including working capital, research and development, and marketing.
- In February 2025, the company priced an underwritten public offering of 8,000,000 shares of common stock at $2.25 per share, generating approximately $18 million in gross proceeds. The net proceeds from this offering were earmarked for general corporate purposes, including sales and marketing, research and development activities, and potential acquisitions.
- During the period ended September 30, 2025, Neuronetics sold 2,261,835 shares through its At-the-Market (ATM) facility at an average price of $3.68 per share, resulting in gross proceeds of $8.3 million and net proceeds of approximately $7.8 million for general corporate purposes and growth initiatives.
Outbound Investments
- In December 2024, Neuronetics completed the acquisition of Greenbrook, a transaction that made Greenbrook a wholly-owned subsidiary of Neuronetics. This acquisition significantly impacted Neuronetics' revenue and operational structure in subsequent financial reporting.
Capital Expenditures
- Net proceeds from the February 2025 public offering of common stock were intended, in part, for capital expenditures, alongside other general corporate purposes.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Neuronetics Earnings Notes | 12/16/2025 | |
| Would You Still Hold Neuronetics Stock If It Fell Another 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to STIM.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | PGNY | Progyny | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03272026 | CNC | Centene | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -0.6% |
| 03272026 | OSCR | Oscar Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.0% | 3.0% | -2.6% |
| 03202026 | WAT | Waters | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.4% | -0.4% | -3.3% |
| 03202026 | GILD | Gilead Sciences | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 1.6% | 1.6% | -2.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 124.59 |
| Mkt Cap | 6.4 |
| Rev LTM | 1,013 |
| Op Inc LTM | 84 |
| FCF LTM | 76 |
| FCF 3Y Avg | 44 |
| CFO LTM | 117 |
| CFO 3Y Avg | 71 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 38.1% |
| Rev Chg 3Y Avg | 24.3% |
| Rev Chg Q | 38.6% |
| QoQ Delta Rev Chg LTM | 8.3% |
| Op Mgn LTM | -3.4% |
| Op Mgn 3Y Avg | -13.9% |
| QoQ Delta Op Mgn LTM | 4.8% |
| CFO/Rev LTM | 2.3% |
| CFO/Rev 3Y Avg | -10.1% |
| FCF/Rev LTM | -0.9% |
| FCF/Rev 3Y Avg | -12.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.4 |
| P/S | 4.3 |
| P/EBIT | -11.9 |
| P/E | -8.6 |
| P/CFO | 4.6 |
| Total Yield | -4.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 0.7% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.8% |
| 3M Rtn | 5.8% |
| 6M Rtn | 25.2% |
| 12M Rtn | 68.9% |
| 3Y Rtn | 55.5% |
| 1M Excs Rtn | 5.7% |
| 3M Excs Rtn | 4.3% |
| 6M Excs Rtn | 21.5% |
| 12M Excs Rtn | 45.9% |
| 3Y Excs Rtn | -14.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Med Device | 70 | ||||
| Clinic Service | 4 | ||||
| Clinic revenue-United States | 0 | ||||
| NeuroStar Advanced Therapy System-International | 1 | 1 | 1 | 1 | |
| NeuroStar Advanced Therapy System-United States | 16 | 17 | 10 | 11 | |
| Other-International | 1 | 1 | 0 | 0 | |
| Other-United States | 2 | 2 | 2 | 2 | |
| Treatment sessions-International | 1 | 0 | 0 | 0 | |
| Treatment sessions-United States | 51 | 45 | 42 | 35 | |
| Total | 75 | 71 | 65 | 55 | 49 |
Price Behavior
Price Behavior
| Market Price | $1.43 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 06/28/2018 | |
| Distance from 52W High | -69.3% | |
| 50 Days | 200 Days | |
| DMA Price | $1.43 | $2.39 |
| DMA Trend | down | down |
| Distance from DMA | 0.3% | -40.2% |
| 3M | 1YR | |
| Volatility | 115.3% | 88.4% |
| Downside Capture | 0.67 | 1.35 |
| Upside Capture | 30.06 | 74.52 |
| Correlation (SPY) | 25.5% | 22.4% |
STIM Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.18 | 2.58 | 2.74 | 2.29 | 1.67 | 1.54 |
| Up Beta | 13.57 | 10.34 | 7.86 | 3.48 | 1.87 | 1.62 |
| Down Beta | 2.06 | 4.58 | 3.42 | 4.01 | 1.44 | 1.24 |
| Up Capture | -68% | -110% | 171% | 32% | 88% | 212% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 15 | 29 | 55 | 111 | 334 |
| Down Capture | -25% | 192% | 128% | 174% | 156% | 111% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 27 | 34 | 70 | 133 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STIM | |
|---|---|---|---|---|
| STIM | -61.7% | 88.2% | -0.70 | - |
| Sector ETF (XLV) | 11.9% | 16.0% | 0.52 | 17.2% |
| Equity (SPY) | 24.2% | 12.9% | 1.49 | 23.7% |
| Gold (GLD) | 53.4% | 27.6% | 1.55 | 0.8% |
| Commodities (DBC) | 26.8% | 16.2% | 1.47 | -1.8% |
| Real Estate (VNQ) | 18.7% | 13.8% | 1.00 | 12.7% |
| Bitcoin (BTCUSD) | -6.8% | 42.9% | -0.05 | 12.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STIM | |
|---|---|---|---|---|
| STIM | -34.2% | 96.1% | 0.03 | - |
| Sector ETF (XLV) | 6.6% | 14.6% | 0.27 | 17.3% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 24.2% |
| Gold (GLD) | 22.5% | 17.8% | 1.03 | 0.6% |
| Commodities (DBC) | 11.7% | 18.8% | 0.51 | 7.1% |
| Real Estate (VNQ) | 3.9% | 18.8% | 0.11 | 17.8% |
| Bitcoin (BTCUSD) | 5.8% | 56.5% | 0.32 | 8.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STIM | |
|---|---|---|---|---|
| STIM | -25.6% | 94.6% | 0.06 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 22.1% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 27.7% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | 1.0% |
| Commodities (DBC) | 8.8% | 17.6% | 0.42 | 9.2% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 23.1% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 8.5% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/10/2026 | 23.3% | -5.5% | -13.0% |
| 11/4/2025 | 3.6% | -22.7% | -47.7% |
| 8/5/2025 | -2.5% | -15.9% | -29.8% |
| 3/4/2025 | 18.8% | 1.6% | -11.3% |
| 11/12/2024 | -37.3% | -29.0% | 9.1% |
| 8/12/2024 | -58.1% | -37.1% | -56.2% |
| 3/5/2024 | 15.4% | 51.6% | 52.0% |
| 11/7/2023 | 8.1% | -3.5% | 45.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 10 | 9 |
| # Negative | 7 | 10 | 11 |
| Median Positive | 11.1% | 24.2% | 52.0% |
| Median Negative | -24.5% | -20.5% | -16.2% |
| Max Positive | 39.2% | 59.8% | 74.5% |
| Max Negative | -58.1% | -44.0% | -56.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/17/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/27/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/08/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/17/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 33.00 Mil | 34.00 Mil | 35.00 Mil | -18.1% | Lower New | Guidance: 41.50 Mil for Q4 2025 | |
| 2026 Revenue | 160.00 Mil | 163.00 Mil | 166.00 Mil | 9.8% | Higher New | Guidance: 148.50 Mil for 2025 | |
| 2026 Operating Margin | 47.0% | 48.0% | 49.0% | 0 | 0 | Same New | Guidance: 48.0% for 2025 |
| 2026 Operating Expenses | 100.00 Mil | 102.50 Mil | 105.00 Mil | 0 | Same New | Guidance: 102.50 Mil for 2025 | |
| 2026 Free Cash Flow | -17.00 Mil | -15.00 Mil | -13.00 Mil | Lower New | Guidance: 0 for Q4 2025 | ||
Prior: Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 40.00 Mil | 41.50 Mil | 43.00 Mil | ||||
| Q4 2025 Operating Cash Flow | -2.00 Mil | 0 | 2.00 Mil | ||||
| 2025 Revenue | 147.00 Mil | 148.50 Mil | 150.00 Mil | -2.3% | Lowered | Guidance: 152.00 Mil for 2025 | |
| 2025 Operating Margin | 47.0% | 48.0% | 49.0% | -2.0% | -1.0% | Lowered | Guidance: 49.0% for 2025 |
| 2025 Operating Expenses | 100.00 Mil | 102.50 Mil | 105.00 Mil | 0 | Affirmed | Guidance: 102.50 Mil for 2025 | |
| 2025 Total Cash | 32.00 Mil | 34.00 Mil | 36.00 Mil | 28.3% | Raised | Guidance: 26.50 Mil for 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Madryn, Asset Management, Lp | See footnotes | Sell | 8122025 | 3.72 | 3,500,000 | 13,020,000 | 4,249,546 | Form | |
| 2 | Furlong, Stephen | EVP, CFO and Treasurer | Direct | Sell | 5142025 | 4.27 | 193,460 | 826,074 | 1,778,852 | Form |
| 3 | Furlong, Stephen | EVP, CFO and Treasurer | Direct | Sell | 5142025 | 4.16 | 6,540 | 27,206 | 1,705,820 | Form |
| 4 | MacAn, William Andrew | EVP, CLO and CS | Direct | Sell | 2122026 | 1.55 | 3,485 | 5,402 | 1,065,906 | Form |
| 5 | Sullivan, Keith J | President and CEO | Direct | Sell | 2122026 | 1.55 | 40,976 | 63,513 | 2,428,869 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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