electroCore Earnings Call Transcripts
Fiscal Year 2026
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Record quarterly revenue of $9.6M (up 43% YoY) with 87% gross margin and improved adjusted EBITDA loss. VA and consumer channels drove growth, and 2026 guidance for 30% revenue growth was reaffirmed. Leadership transition completed and new COO in place.
Fiscal Year 2025
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Record 2025 revenue growth was driven by VA and wellness channels, with strong Truvaga sales and improved gross margin. Leadership transition is underway, and 2026 revenue is expected to grow ~30%, with new product launches and expanded federal and managed care focus.
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Q3 2025 revenue rose 33% year-over-year to $8.7M, driven by VA channel growth and the Quell Fibromyalgia acquisition. Gross margin improved to 86%, and full-year guidance was raised. Profitability is delayed to fund expansion, with positive adjusted EBITDA expected in H2 2026.
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Record Q2 revenue of $7.4M (up 20% YoY) driven by VA and wellness growth, with gross margin at 87%. Strategic investments are accelerating, delaying profitability but targeting $11.5–$12M in quarterly revenue for cash flow positivity.
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Q1 2025 revenue rose 23% year-over-year to $6.7 million, with strong growth in both prescription and wellness channels. The acquisition of Neurometrics and new product launches are expected to drive further expansion, while gross margins remain robust at 85%.
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Revenue growth remains strong with expanding insurance coverage and a diversified product portfolio. New clinical indications, recent acquisitions, and direct-to-consumer initiatives are expected to drive further growth and approach cash flow positivity.
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Non-invasive neuromodulation products for headache, wellness, and military use drove $25M in 2024 revenue, with strong gross margins and expanding coverage. New acquisitions and clinical trials target PTSD, fibromyalgia, and substance abuse, supporting growth into 2026.
Fiscal Year 2024
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2024 revenue grew 57% to $25.2M, driven by strong VA and Truvaga sales, with gross margin at 85% and net loss narrowing by 37%. Key developments include the NeuroMetrix acquisition, Spark Biomedical partnership, and expanded DTC channels.
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Q3 2024 revenue rose 45% year-over-year to $6.6 million, with gross margin steady at 84% and net loss narrowing by 38%. VA channel and Truvaga sales drove growth, while TAC-STIM revenue was variable. Progress continues toward profitability and positive cash flow.
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Strong revenue growth, high gross margins, and a diversified product portfolio drive expansion in prescription, wellness, and military markets. Pipeline advances in PTSD and substance abuse, with robust patent protection and plans for broader insurance coverage in 2025-2026.
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Q2 2024 saw record revenue of $6.1M (up 73% YoY), 86% gross margin, and a 46% reduction in net loss. VA channel sales surged 120%, Truvaga and TAC-STIM product lines expanded, and $9M was raised, mostly from insiders. Positive cash flow is targeted for early 2025.