$STIM
Neuronetics Inc

2023 Q3 Form 10-Q Financial Statement

#000155837023013962 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $17.88M $17.61M
YoY Change 8.4% 7.84%
Cost Of Revenue $6.120M $4.836M
YoY Change 71.43% 19.73%
Gross Profit $11.76M $12.77M
YoY Change -9.0% 3.94%
Gross Profit Margin 65.78% 72.54%
Selling, General & Admin $18.48M $17.76M
YoY Change 2.47% -11.39%
% of Gross Profit 157.09% 139.02%
Research & Development $2.155M $2.364M
YoY Change -8.22% 15.6%
% of Gross Profit 18.32% 18.51%
Depreciation & Amortization $500.0K $488.0K
YoY Change 29.2% 44.38%
% of Gross Profit 4.25% 3.82%
Operating Expenses $20.64M $20.12M
YoY Change 1.24% -8.89%
Operating Profit -$8.871M -$7.349M
YoY Change 19.01% -24.98%
Interest Expense $1.184M $1.144M
YoY Change 11.59% 14.4%
% of Operating Profit
Other Income/Expense, Net $664.0K $3.592M
YoY Change -26.71% 860.43%
Pretax Income -$9.390M -$4.901M
YoY Change 23.41% -52.97%
Income Tax
% Of Pretax Income
Net Earnings -$9.391M -$4.901M
YoY Change 23.42% -52.97%
Net Earnings / Revenue -52.51% -27.83%
Basic Earnings Per Share -$0.33 -$0.17
Diluted Earnings Per Share -$0.33 -$0.17
COMMON SHARES
Basic Shares Outstanding 28.87M 28.50M
Diluted Shares Outstanding 28.88M 28.59M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.80M $45.91M
YoY Change -51.42% -35.28%
Cash & Equivalents $35.80M $45.90M
Short-Term Investments
Other Short-Term Assets $7.600M $6.708M
YoY Change 54.85% 98.11%
Inventory $9.737M $8.871M
Prepaid Expenses $2.351M $2.204M
Receivables $15.02M $13.15M
Other Receivables $2.800M $3.047M
Total Short-Term Assets $71.01M $77.68M
YoY Change -29.76% -18.31%
LONG-TERM ASSETS
Property, Plant & Equipment $2.066M $2.108M
YoY Change -2.04% 1.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.086M $4.042M
YoY Change 14.94% 24.22%
Total Long-Term Assets $21.98M $22.72M
YoY Change 21.16% -18.49%
TOTAL ASSETS
Total Short-Term Assets $71.01M $77.68M
Total Long-Term Assets $21.98M $22.72M
Total Assets $92.99M $100.4M
YoY Change -22.01% -18.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.822M $4.143M
YoY Change 20.09% 76.3%
Accrued Expenses $10.04M $8.375M
YoY Change -12.67% -13.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $15.34M $15.03M
YoY Change -39.0% -20.65%
LONG-TERM LIABILITIES
Long-Term Debt $36.85M $36.71M
YoY Change 36.44% 17.63%
Other Long-Term Liabilities $2.900M $3.176M
YoY Change -29.13% -27.55%
Total Long-Term Liabilities $36.85M $36.71M
YoY Change 36.44% 17.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.34M $15.03M
Total Long-Term Liabilities $36.85M $36.71M
Total Liabilities $55.05M $54.92M
YoY Change -2.13% 0.7%
SHAREHOLDERS EQUITY
Retained Earnings -$370.7M -$361.3M
YoY Change 9.8% 9.48%
Common Stock $408.6M $406.8M
YoY Change 2.01% 2.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $37.94M $45.48M
YoY Change
Total Liabilities & Shareholders Equity $92.99M $100.4M
YoY Change -22.01% -18.35%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$9.391M -$4.901M
YoY Change 23.42% -52.97%
Depreciation, Depletion And Amortization $500.0K $488.0K
YoY Change 29.2% 44.38%
Cash From Operating Activities -$10.12M -$8.834M
YoY Change 55.52% -1.3%
INVESTING ACTIVITIES
Capital Expenditures $550.0K $704.0K
YoY Change -175.76% -172.88%
Acquisitions
YoY Change
Other Investing Activities $620.0K $62.00K
YoY Change -93.8%
Cash From Investing Activities $70.00K -$642.0K
YoY Change -99.25% -33.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -62.00K
YoY Change -720.0%
NET CHANGE
Cash From Operating Activities -10.12M -8.834M
Cash From Investing Activities 70.00K -642.0K
Cash From Financing Activities 0.000 -62.00K
Net Change In Cash -10.05M -9.538M
YoY Change -463.21% -3.71%
FREE CASH FLOW
Cash From Operating Activities -$10.12M -$8.834M
Capital Expenditures $550.0K $704.0K
Free Cash Flow -$10.67M -$9.538M
YoY Change 84.57% 19.46%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28590000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26787000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28316000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26692000
dei Entity Central Index Key
EntityCentralIndexKey
0001227636
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27268000
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28813000
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.80
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P6M
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38546
dei Entity Registrant Name
EntityRegistrantName
NEURONETICS, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
33-1051425
dei Entity Address Address Line1
EntityAddressAddressLine1
3222 Phoenixville Pike
dei Entity Address City Or Town
EntityAddressCityOrTown
Malvern
dei Entity Address State Or Province
EntityAddressStateOrProvince
PA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
19355
dei City Area Code
CityAreaCode
610
dei Local Phone Number
LocalPhoneNumber
640-4202
dei Security12b Title
Security12bTitle
Common Stock ($0.01 par value)
dei Trading Symbol
TradingSymbol
STIM
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
28873388
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45905000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
70340000
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13145000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13591000
CY2023Q2 us-gaap Inventory Net
InventoryNet
8871000
CY2022Q4 us-gaap Inventory Net
InventoryNet
8899000
CY2023Q2 us-gaap Net Investment In Lease Current
NetInvestmentInLeaseCurrent
1072000
CY2022Q4 us-gaap Net Investment In Lease Current
NetInvestmentInLeaseCurrent
1538000
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2204000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1997000
CY2023Q2 stim Notes Receivables Current
NotesReceivablesCurrent
1975000
CY2022Q4 stim Notes Receivables Current
NotesReceivablesCurrent
230000
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4504000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2174000
CY2023Q2 us-gaap Assets Current
AssetsCurrent
77676000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
98769000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2108000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1991000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3056000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3327000
CY2023Q2 us-gaap Net Investment In Lease Noncurrent
NetInvestmentInLeaseNoncurrent
859000
CY2022Q4 us-gaap Net Investment In Lease Noncurrent
NetInvestmentInLeaseNoncurrent
1222000
CY2023Q2 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
7980000
CY2022Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
7568000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16329000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
33150000
CY2023Q2 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
4671000
CY2022Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
362000
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4042000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3645000
CY2023Q2 us-gaap Assets
Assets
100392000
CY2022Q4 us-gaap Assets
Assets
116884000
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
4143000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2433000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8375000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14837000
CY2023Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1674000
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1980000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
834000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
824000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
13125000
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
15026000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
33199000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
36713000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
22829000
CY2023Q2 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
513000
CY2022Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
829000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2663000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2967000
CY2023Q2 us-gaap Liabilities
Liabilities
54915000
CY2022Q4 us-gaap Liabilities
Liabilities
59824000
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28813000
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27268000
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
288000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
273000
CY2023Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
406502000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
402679000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-361313000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-345892000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
45477000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
57060000
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
100392000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
116884000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17610000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
85175000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30510000
CY2023Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
4836000
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
4039000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
8980000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
7524000
CY2023Q2 us-gaap Gross Profit
GrossProfit
12774000
CY2022Q2 us-gaap Gross Profit
GrossProfit
12290000
us-gaap Gross Profit
GrossProfit
24170000
us-gaap Gross Profit
GrossProfit
22986000
CY2023Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
11559000
CY2022Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13685000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
23461000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26334000
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6200000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6356000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12812000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12734000
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2364000
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2045000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5154000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3849000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
20123000
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
22086000
us-gaap Operating Expenses
OperatingExpenses
41427000
us-gaap Operating Expenses
OperatingExpenses
42917000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7349000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-9796000
us-gaap Operating Income Loss
OperatingIncomeLoss
-17257000
us-gaap Operating Income Loss
OperatingIncomeLoss
-19931000
CY2023Q2 us-gaap Interest Expense
InterestExpense
1144000
CY2022Q2 us-gaap Interest Expense
InterestExpense
1000000
us-gaap Interest Expense
InterestExpense
2396000
us-gaap Interest Expense
InterestExpense
1978000
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3592000
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
374000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4232000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
649000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4901000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10422000
us-gaap Net Income Loss
NetIncomeLoss
-15421000
us-gaap Net Income Loss
NetIncomeLoss
-21260000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.80
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28590000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26787000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28316000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26692000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
9000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2252000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10838000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
76598000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
43000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2203000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10422000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
68422000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
57060000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1805000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-10520000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
48345000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2033000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4901000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
45477000
us-gaap Profit Loss
ProfitLoss
-15421000
us-gaap Profit Loss
ProfitLoss
-21260000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1004000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
657000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-266000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
328000
us-gaap Share Based Compensation
ShareBasedCompensation
3838000
us-gaap Share Based Compensation
ShareBasedCompensation
4455000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
322000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
340000
stim Cost Of Rental Units Purchased By Customers
CostOfRentalUnitsPurchasedByCustomers
92000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5456000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4013000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
840000
stim Increase Decrease In Net Investment In Sales Type Leases
IncreaseDecreaseInNetInvestmentInSalesTypeLeases
-828000
stim Increase Decrease In Net Investment In Sales Type Leases
IncreaseDecreaseInNetInvestmentInSalesTypeLeases
-102000
stim Increase Decrease In Prepaid Commission Expense
IncreaseDecreaseInPrepaidCommissionExpense
620000
stim Increase Decrease In Prepaid Commission Expense
IncreaseDecreaseInPrepaidCommissionExpense
610000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
2762000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-1517000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1577000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2256000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-6462000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1451000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-622000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1095000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24047000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21132000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
938000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2040000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
113000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-825000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2040000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
863000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
90000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2500000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1200000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
52000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
437000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-38000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-24435000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-23210000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70340000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94141000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45905000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70931000
us-gaap Interest Paid Net
InterestPaidNet
2075000
us-gaap Interest Paid Net
InterestPaidNet
1638000
stim Transfer Of Inventory To Property And Equipment
TransferOfInventoryToPropertyAndEquipment
36000
stim Transfer Of Inventory To Property And Equipment
TransferOfInventoryToPropertyAndEquipment
219000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
134000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
308000
stim Reduction Of Accounts Receivable In Long Term Note Receivable
ReductionOfAccountsReceivableInLongTermNoteReceivable
6330000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">1.     DESCRIPTION OF BUSINESS</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">Neuronetics, Inc. (the “Company”) is a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from neurohealth disorders. The Company’s first commercial product, the NeuroStar Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation (“TMS”) to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system was cleared in 2008 by the United States (“U.S.”) Food and Drug Administration (the “FDA”) to treat adult patients with major depressive disorder (“MDD”) who have failed to achieve satisfactory improvement from prior antidepressant medication in the current MDD episode. The NeuroStar Advanced Therapy System is also available in other parts of the world, including Japan, where it is listed under Japan’s national health insurance. The Company intends to continue to pursue development of the NeuroStar Advanced Therapy System for additional indications.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Liquidity</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;">As of June 30, 2023, the Company had cash and cash equivalents of $45.9 million and an accumulated deficit of $361.3 million. The Company incurred negative cash flows from operating activities of $24.0 million for the six months ended June 30, 2023 and $30.7 million for the year ended December 31, 2022. The Company has incurred operating losses since its inception, and management anticipates that its operating losses will continue in the near term as the Company continues to invest in sales, marketing and product development activities. The Company’s primary sources of capital to date have been proceeds from its initial public offering (“IPO”), private placements of its convertible preferred securities, borrowings under its credit facility, proceeds from its secondary public offering of common stock and revenues from sales of its products. As of June 30, 2023, the Company had $37.5 million of borrowings outstanding under its credit facility, which has a final maturity in <span style="-sec-ix-hidden:Hidden_c7viFSaEIkyLds7ENM40vQ;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;">March 2028</span></span>. Management believes that the Company’s cash and cash equivalents as of June 30, 2023, and anticipated revenues from sales of its products are sufficient to fund the Company’s operations for at least the next 12 months from the issuance of these financial statements.</p>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45900000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-361300000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24000000.0
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-30700000
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">2.     BASIS OF PRESENTATION</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASUs”) promulgated by the Financial Accounting Standards Board (“FASB”).</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Interim Financial Statements</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">The accompanying unaudited interim financial statements have been prepared from the books and records of the Company in accordance with GAAP for interim financial information and Rule 10-01 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission (the “SEC”), which permit reduced disclosures for interim periods. All adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the accompanying balance sheets and statements of operations and stockholders’ equity and cash flows have been made. Although these interim financial statements do not include all of the information and footnotes required for complete annual financial statements, management believes that the disclosures are adequate to make the information presented not misleading. Unaudited interim results of operations and cash flows for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the full year. Unaudited interim financial statements and footnotes should be read in conjunction with the audited financial statements and footnotes included in the Company’s Form 10-K filed with the SEC on March 7, 2023, wherein a more complete discussion of significant accounting policies and certain other information can be found.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;">The preparation of financial statements in accordance with GAAP and the rules and regulations of the SEC requires the use of estimates and assumptions, based on judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes that its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company’s business and evolving market conditions, and given the subjective element of the estimates and assumptions, actual results may differ materially from estimated results.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;">The preparation of financial statements in accordance with GAAP and the rules and regulations of the SEC requires the use of estimates and assumptions, based on judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes that its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company’s business and evolving market conditions, and given the subjective element of the estimates and assumptions, actual results may differ materially from estimated results.</p>
CY2023Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
14365000
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
15239000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1220000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1648000
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13145000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13591000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5478000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5048000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3370000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3057000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2108000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1991000
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
500000
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
300000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1000000.0
us-gaap Depreciation And Amortization
DepreciationAndAmortization
700000
CY2023Q2 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
2015000
CY2022Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
230000
CY2023Q2 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
4793000
CY2022Q4 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
362000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
162000
CY2023Q2 us-gaap Notes Receivable Net
NotesReceivableNet
6646000
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
592000
us-gaap Lessee Finance Lease Lease Not Yet Commenced Description
LesseeFinanceLeaseLeaseNotYetCommencedDescription
The Company does not currently have any finance leases or executed leases that have not yet commenced.
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
us-gaap Operating Lease Payments
OperatingLeasePayments
521000
us-gaap Operating Lease Payments
OperatingLeasePayments
425000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
428000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
875000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
898000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
921000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
882000
CY2023Q2 stim Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
116000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4120000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
623000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3497000
CY2023Q2 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
47000
CY2022Q2 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
373000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
47000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
420000
CY2023Q2 us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
47000
CY2022Q2 us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
373000
us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
47000
us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
420000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
610000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
851000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
376000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
67000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
27000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
1931000
CY2023Q2 us-gaap Sales Type Lease Lease Receivable
SalesTypeLeaseLeaseReceivable
1900000
CY2023Q2 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
0
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
40000.00
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
50000.00
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
100000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
100000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
659000
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
759000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
800000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8375000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14837000
stim Amortization Period Of Deferred Sales Commissions
AmortizationPeriodOfDeferredSalesCommissions
P7Y
CY2023Q2 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
600000
CY2022Q2 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
500000
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
1100000
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
900000
CY2023Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
4884000
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
11201000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
648000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
761000
CY2023Q2 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
337000
CY2022Q4 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
678000
CY2023Q2 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
822000
CY2022Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
410000
CY2023Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
224000
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
328000
CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
701000
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.47
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.42
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.10
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.01
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
1
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1400000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1800000
CY2022Q2 stim Number Of Customer Accounted For More Than Ten Percentage Of Revenues
NumberOfCustomerAccountedForMoreThanTenPercentageOfRevenues
1
CY2023Q2 stim Number Of Customer Accounted For More Than Ten Percentage Of Revenues
NumberOfCustomerAccountedForMoreThanTenPercentageOfRevenues
1
stim Number Of Customer Accounted For More Than Ten Percentage Of Revenues
NumberOfCustomerAccountedForMoreThanTenPercentageOfRevenues
1
stim Number Of Customer Accounted For More Than Ten Percentage Of Revenues
NumberOfCustomerAccountedForMoreThanTenPercentageOfRevenues
1
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
37500000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
35000000
CY2023Q2 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
1856000
CY2022Q4 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
1925000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2643000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
971000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
36713000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
35954000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
13125000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
36713000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
22829000
CY2023Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
1100000
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
1000000.0
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
100000
CY2022Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
1000000.0
CY2022Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
800000
CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
2400000
us-gaap Interest Expense Debt
InterestExpenseDebt
2100000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
300000
us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
2000000.0
us-gaap Interest Expense Debt
InterestExpenseDebt
1700000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
300000
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28813000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27268000
CY2023Q2 stim Common Stock Shares Issued And Reserved For Future Issuance
CommonStockSharesIssuedAndReservedForFutureIssuance
36097000
CY2022Q4 stim Common Stock Shares Issued And Reserved For Future Issuance
CommonStockSharesIssuedAndReservedForFutureIssuance
34734000
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
61000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2033000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2203000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3838000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4455000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1

Files In Submission

Name View Source Status
0001558370-23-013962-index-headers.html Edgar Link pending
0001558370-23-013962-index.html Edgar Link pending
0001558370-23-013962.txt Edgar Link pending
0001558370-23-013962-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
stim-20230630.xsd Edgar Link pending
stim-20230630x10q.htm Edgar Link pending
stim-20230630xex31d1.htm Edgar Link pending
stim-20230630xex31d2.htm Edgar Link pending
stim-20230630xex32d1.htm Edgar Link pending
stim-20230630xex32d2.htm Edgar Link pending
stim-20230630_def.xml Edgar Link unprocessable
stim-20230630_lab.xml Edgar Link unprocessable
stim-20230630_pre.xml Edgar Link unprocessable
stim-20230630x10q_htm.xml Edgar Link completed
stim-20230630_cal.xml Edgar Link unprocessable