XML 33 R22.htm IDEA: XBRL DOCUMENT v3.25.3

REVENUE AND DEFERRED REVENUE

9 Months Ended

Sep. 30, 2025

REVENUE AND DEFERRED REVENUE

REVENUE AND DEFERRED REVENUE

15.     REVENUE AND DEFERRED REVENUE

Contract terms typically require payment upon shipment or installation of the NeuroStar Advanced Therapy System and additional payments as access codes for treatment sessions are delivered, which can span several years after the NeuroStar Advanced Therapy System is first delivered and installed. The timing of revenue recognition compared to billings and cash collections typically results in accounts receivable. However, sometimes customer advances and deposits may be required for certain customers and are recorded as contract liabilities (deferred revenue). For multi-year agreements, the Company generally invoices customers annually at the beginning of each annual coverage period and recognizes revenue over the term of the coverage period.

As of September 30, 2025, the Company expects to recognize approximately the following percentages of deferred revenue by year:

​

​	​	​	​
​		Revenue
Year:	​	Recognition
Remainder of 2025	​	46	%
2026		54	%
Total		100	%

​

Revenue recognized for the three months ended September 30, 2025 and 2024 that was included in the contract liability balance at the beginning of the year was $0.1 million and $0.3 million, respectively. Revenue recognized for the nine months ended September 30, 2025 and 2024 that was included in the contract liability balance at the beginning of the year was $0.9 million and $1.4 million, respectively, and primarily represented revenue earned from separately priced extended warranties, customer deposits, milestone revenue, and clinical training.

Customers

Significant customers are those that represent more than 10% of the Company’s total revenue. For the three months ended September 30, 2024, one customer accounted for 13% of the Company’s revenue. For the nine months ended September 30, 2024, one customer accounted for 14% of the Company’s revenue. Following the acquisition of Greenbrook, there are no significant customers for the three and nine months periods ended September 30, 2025.

Geographical information

The following geographic data includes revenue generated from the Company’s third-party distributors. The Company’s revenue was generated in the following geographic regions and by product line for the periods indicated:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Revenues by Geography
​	​	Three Months Ended September 30,
​	​	2025				​	2024
​	​	​	​	​	% of	​	​	​	​	% of
​	​	Amount		​	Revenues	​	Amount		​	Revenues
​	​	(in thousands, except percentages)									​
U.S.		$	36,248		97	%	$	17,922		97	%
International	​		1,049		3	%		608		3	%
Total revenues	​	$	37,297		100	%	$	18,530		100	%

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	U.S. Revenues by Product Category
​	​	Three Months Ended September 30,
​	​	2025				​	2024
​	​	​	​	​	% of	​	​		​	% of
​		Amount			Revenues		Amount			Revenues
​		(in thousands, except percentages)									​
NeuroStar Advanced Therapy System	​	$	3,508	​	10	%	$	4,108	​	23	%
Treatment sessions	​		10,543		29	%		13,326		74	%
Clinic revenue	​	​	21,808	​	60	%	​	—	​	—	%
Other	​		389		1	%		488		3	%
Total U.S. revenues	​	$	36,248		100	%	$	17,922		100	%

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	International Revenues by Product Category
​	​	Three Months Ended September 30,
​	​	2025				​	2024
​	​	​	​	​	% of	​	​	​	​	% of
​		Amount			Revenues		Amount			Revenues
​		(in thousands, except percentages)									​
NeuroStar Advanced Therapy System	​	$	448		43	%	$	244		40	%
Treatment sessions	​		214		20	%		90		15	%
Other	​		387		37	%		274		45	%
Total international revenues	​	$	1,049		100	%	$	608		100	%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues by Geography

​

​

​

Nine Months Ended September 30,

​

​

​

2025

​

2024

​

​

​

​

​

​

% of

​

​

​

​

% of

​

​

​

Amount

​

Revenues

​

Amount

​

Revenues

​

​

​

(in thousands, except percentages)

​

​

U.S.

$

105,387

98

%

$

50,845

97

%

​

International

​

1,993

2

%

1,552

3

%

​

Total revenues

​

$

107,380

100

%

$

52,397

100

%

​

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	U.S. Revenues by Product Category
​	​	Nine Months Ended September 30,
​	​	2025				​	2024
​	​	​	​	​	% of	​	​		​	% of
​		Amount			Revenues		Amount			Revenues
​		(in thousands, except percentages)									​
NeuroStar Advanced Therapy System	​	$	9,838	​	9	%	$	11,418	​	22	%
Treatment sessions	​		30,928		30	%		37,974		75	%
Clinic revenue	​	​	63,491	​	60	%	​	—	​	—	%
Other	​		1,130		1	%		1,453		3	%
Total U.S. revenues	​	$	105,387		100	%	$	50,845		100	%

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	International Revenues by Product Category
​	​	Nine Months Ended September 30,
​	​	2025				​	2024
​	​	​	​	​	% of	​	​	​	​	% of
​		Amount			Revenues		Amount			Revenues
​		(in thousands, except percentages)									​
NeuroStar Advanced Therapy System	​	$	774		39	%	$	502		32	%
Treatment sessions	​		644		32	%		400		26	%
Other	​		575		29	%		650		42	%
Total international revenues	​	$	1,993		100	%	$	1,552		100	%

​

X

- References

No definition available.

+ Details

Name:	us-gaap_DeferredRevenueAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Name:	us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration