Press release, Helsinki, 23 October 2026 at 9 AM (EEST)
Nexstim Plc Business Update Q3 2026
Nexstim Plc (”Nexstim” or ”Company”) announces the key highlights of the Company’s business operations during Q3 2026.
CEO Mikko Karvinen’s Business Update
2026 has advanced well with progress in reaching our key strategic objectives. In line with our strategy, Nexstim will continue to enable patients to receive personalized and effective treatment and diagnostics for severe brain diseases and disorders.
In line with our main strategic objective, we have focused on profitable net sales growth. Between January and September 2026, we delivered a total of 13 (1–9/2025: 13) new diagnostics systems and 6 (1–9/2025: 3) new therapy systems and 2 new systems for research use. In addition to the delivered systems, we had an open order backlog of 17 undelivered systems at the end of Q3 2026. This puts us in an excellent position as we head into the fourth quarter, which is typically the busiest period of the year for orders and deliveries.
In the Diagnostics Business, more than 275 systems have been sold to research universities and leading hospitals across the world to date. In the Therapy Business, at the end of Q3 2026 there were a total of 154 Nexstim systems with therapy capabilities installed worldwide (57 in the U.S. and 97 in Europe and the rest of the world). In addition to therapy systems, this number includes diagnostics systems that have an optional therapy add-on software installed.
Our second key strategic objective for 2026 is to successfully support the long-term collaboration between Nexstim and Brainlab SE (“Brainlab”) and to expand the network of other partners and clinics. Combining Nexstim’s technological know-how and superior services together with the huge business growth potential Brainlab brings through their innovative products, which integrate with Nexstim’s offerings and its customers base at leading hospitals globally, will create greatest value for patients, neurosurgeons, hospitals and shareholders. Outside of Brainlab-exclusive areas, Nexstim independently continues to develop, market, and sell its products and services in all markets for current and future neuroscience research applications and therapy applications. Nexstim will work with its own direct sales team, as well as other distributors and business partners, to advance these efforts.
In collaboration with Brainlab, Nexstim participated in several neurosurgical marketing and educational activities during Q3 2026. These included the EANS Congress 2026 in Hamburg with many expert-led presentations on navigated TMS in the program and the NSA Annual Scientific Meeting 2026 in Adelaide, Australia, where the companies showcased the integration of Nexstim's NBS 6 brain mapping technology with Brainlab's planning and navigation ecosystem. In addition, joint digital campaigns highlighted the clinical workflow benefits enabled by the collaboration between the two companies. These activities demonstrated the value of integrated functional brain mapping solutions for clinicians and supported the continued commercialization of Nexstim's diagnostics business through Brainlab’s sales infrastructure.
Another partnership that we have taken steps forward with is the planned collaboration with Sinaptica Therapeutics, Inc. (“Sinaptica”). Nexstim has a Letter of Intent with Sinaptica regarding the development, manufacturing, and supply of Sinaptica’s patented precision neuromodulation system custom-built upon the Nexstim NBS 6 system with its advanced TMS-EEG and precision neuronavigation capabilities, integrated with Sinaptica’s proprietary MAINTAIN™ cloud-based personalization engine, for the treatment of Alzheimer’s Disease and MCI (mild cognitive impairment). The planned partnership would be a worldwide, 10-year exclusive arrangement. The financial structure of the collaboration consists of an upfront exclusivity agreement signing fee, a milestone-based development project, and clinical & commercial system sales. The milestone-based development project and clinical system sales are defined in more detail in the definitive agreements subject to changes during the negotiations. The long-term exclusive arrangement depends on the signing of the definitive agreements before the end of 2026. At Nexstim, we're committed to collaborating with Sinaptica and supporting them with research system validation and deliveries on their way to new clinical trials.
Our third strategic objective for 2026 is to further strengthen our technological leadership by improving and innovating the NBS 6 neurosurgical workflow and the TMS-EEG research interface. These developments will support deeper integration into Brainlab’s product workflows and further facilitate the work of our TMS-EEG research customers, including Sinaptica. Continuous development of new product generations and new modules are an essential part of Nexstim’s strategy period extending to 2028. We have noted a growing interest and demand towards the use of our advanced system in the research and development of Brain-Computer Interface (BCI). This field of application has gained wide-spread interest in the international events of the field and plays a major role in China’s long-term technology and industry strategy. BCI is included in the country’s 15th 5-year plan that extends to 2030.
Our expectations for full year 2026 are positive. Our current business is strongly focused on the EU and the United States, but with our new partnerships, we continue to expand the reach of Nexstim’s technology increasingly into the Asian and South American markets. Nexstim remains determined in developing individualized and effective methods for treating and diagnosing severe brain diseases and disorders. We strongly believe our work will support long-term shareholder value growth through stronger competitive advantages, rapid growth, and improved financial performance.
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
The Company’s Certified Adviser is DNB Carnegie Investment Bank AB.
About Nexstim Plc
Nexstim is a Finnish, globally operating growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Nexstim’s Diagnostics Business focuses on commercialization of the NBS System 6, which is the only FDA-cleared and CE-marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain.
Nexstim’s Therapy Business markets and sells the NBS System 6 which is FDA-cleared for marketing and commercial distribution for the treatment of Major Depressive Disorder (MDD) in adult and adolescent patients who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode, and as an adjunct for the treatment of adult patients suffering from Obsessive Compulsive Disorder (OCD). In Europe, the NBS 6 system is CE-marked for the treatment of major depression, chronic neuropathic pain as well as post-operative rehabilitation of motor deficits of the upper limb.
Nexstim shares are listed on Nasdaq First North Growth Market Finland.
For more information, please visit www.nexstim.com.