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Neuronetics cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$768K in Q3 2026 · −$9.6M over twelve months

Operating cash flow$1.2M
Capital spending−$470K
Free cash flow+$768K
Cash conversion cycle6 days

Analysis

In Q3 2026, Neuronetics generated $1.2M of operating cash flow and spent $470K on capital projects, leaving free cash flow of $768K. That is $1.7M more than in Q3 2025 (−$899K).

Over the twelve months to Sep 30, 2026, operating cash flow was −$8.3M; the largest uses were operating cash flow ($8.3M), capital spending ($1.3M); besides operations, cash came from shares issued ($2.2M), other financing ($741K); the cash balance fell by $6.6M.

Operating cash flow was $1.2M against net income of −$1.6M. The largest differences: payables −$2.4M, receivables +$1.6M, accrued liabilities +$1.4M.

Its cash conversion cycle was 6 days (receivables 33 + inventory 24 − payables 51).

Free cash flow

Neuronetics: free cash flow by quarterNeuronetics: free cash flow by quarter$5.7MQ4 2024−$17.2MQ1 2025−$3.8MQ2 2025−$899KQ3 2025$666KQ4 2025−$9.6MQ1 2026−$1.4MQ2 2026$768KQ3 2026
Operating cash flow less capital spending.
Neuronetics: operating cash flow against capital spendingNeuronetics: operating cash flow against capital spendingOperating cash flowCapital spending$5.8M$89KQ4 2024−$17.0M$219KQ1 2025−$3.5M$252KQ2 2025−$785K$114KQ3 2025$882K$216KQ4 2025−$9.4M$197KQ1 2026−$1.0M$417KQ2 2026$1.2M$470KQ3 2026
Latest (Q3 2026): Operating cash flow $1.2M, Capital spending $470K.

Capital allocation, year by year

Neuronetics: where the cash came from (up) and went (down), by fiscal yearNeuronetics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$28.0MFY2021: Shares issued $83.4MFY2021: Capital spending −$2.4M$83.4MFY2021FY2022: Operating cash flow −$30.7MFY2022: Shares issued $298KFY2022: Capital spending −$3.3M$298KFY2022FY2023: Operating cash flow −$32.0MFY2023: Net borrowing $23.8MFY2023: Shares issued $1KFY2023: Capital spending −$2.4M$23.8MFY2023FY2024: Operating cash flow −$31.0MFY2024: Net borrowing −$2.5MFY2024: Shares issued $1KFY2024: Capital spending −$1.5MFY2024: Acquisitions −$2.6M$1KFY2024FY2025: Operating cash flow −$20.4MFY2025: Net borrowing $9.8MFY2025: Shares issued $13KFY2025: Capital spending −$801K$9.8MFY2025
Over these 5 years operating cash flow totalled −$142M; the largest uses were operating cash flow ($142M) and capital spending ($10.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$22.1M
Debt$61.8M
Net debt$39.6M
Cash runway2.3 years

Neuronetics is burning cash: its operations consume cash, a free cash flow of −$9.6M a year at the current rate against $22.1M of cash and investments: a runway of about 2.3 years before any new financing.

Where the cash came from and went

Neuronetics: sources (+) and uses (−) of cash, Q3 2026Neuronetics: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$2.9MOther financing$2.4MOperating cash flow$1.2MCapital spending−$470KPartners−$231K
Neuronetics: sources (+) and uses (−) of cash, TTM to Q3 2026Neuronetics: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$8.3MCash drawn (+) / kept (−)$6.6MShares issued$2.2MCapital spending−$1.3MOther financing$741KNot reconciled$26KOther investing$25K

From profit to cash

Neuronetics: net income to operating cash flow, Q3 2026Neuronetics: net income to operating cash flow, Q3 2026Net income−$1.6MDepreciation & amortization$742KStock-based pay$178KGains on disposals$6KReceivables$1.6MInventory$517KPayables−$2.4MAccrued liabilities$1.4MDeferred revenue−$156KOther liabilities−$313KOperating cash flow$1.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20263324516
Q2 20263523534
Q1 202642225510
Q4 20253920517
Q3 202555214928
Q2 202562204142
Q1 202570235439
Q4 2024955613120

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$1.2M−$470K——−$2.9M$768K
Q2 2026−$1.0M−$417K——−$6.0M−$1.4M
Q1 2026−$9.4M−$197K−$5.0M—$15.2M−$9.6M
Q4 2025$882K−$216K——$337K$666K
Q3 2025−$785K−$114K—$4K−$17.0M−$899K
Q2 2025−$3.5M−$252K—$1K$3.8M−$3.8M
Q1 2025−$17.0M−$219K—$20.7M−$1.8M−$17.2M
Q4 2024$5.8M−$89K$9.4M—−$18.0M$5.7M

Neuronetics: income statement and cash flow

Neuronetics, Q3 2026: revenue $42.0M (+12% year over year), operating margin 1.3%. The chart follows the revenue to costs, profit and cash.

Neuronetics: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.