NPCE

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Neuropace, Inc.

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Key Metrics

Previous Close: $14.64
52-Week Range: $8.42 – $19.60
Market Cap: $481.23M
P/E (TTM): —
EPS (TTM): -0.45
Dividend Yield: —

Advanced Metrics

Price/Book: 40.40
PEG Ratio: —
Return on Equity: -103.27%
Return on Assets: -7.47%
Gross Margin: 77.38%
Operating Margin: -22.53%
Profit Margin: -17.86%
Current Ratio: 4.94
Debt/Equity: 5.88
Total Debt: $69.93M
Free Cash Flow: $-2.63M
Revenue Growth: 17.10%
Earnings Growth: —
Enterprise Value: $499.46M

NPCE Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$45.52M	$65.42M	$79.91M	$99.99M
Cost of Revenue	$13.03M	$17.30M	$20.82M	$22.77M
Gross Profit	$32.49M	$48.12M	$59.09M	$77.22M
Research & Development	$21.95M	$20.78M	$23.65M	$27.89M
Selling, General & Admin	$51.34M	$54.52M	$57.10M	$65.67M
Operating Expenses	$73.29M	$75.30M	$80.76M	$93.56M
Operating Income	-$40.79M	-$27.17M	-$21.67M	-$16.34M
EBITDA	-$36.57M	-$22.83M	-$16.57M	-$12.06M
Pretax Income	-$47.08M	-$32.96M	-$27.14M	-$21.46M
Net Income	-$47.08M	-$32.96M	-$27.14M	-$21.46M
Diluted EPS	-1.91	-1.27	-0.93	-0.66
Diluted Shares	24.59M	25.85M	29.13M	32.72M

NPCE Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$6.61M	$18.06M	$13.43M	$21.69M
Receivables	$7.48M	$12.31M	$12.85M	$14.68M
Inventory	$9.71M	$11.21M	$13.38M	$16.90M
Current Assets	$97.71M	$92.72M	$81.34M	$94.07M
Total Assets	$114.11M	$107.65M	$94.65M	$105.56M
Current Liabilities	$10.98M	$16.23M	$15.16M	$17.81M
Long-Term Debt	$52.91M	$56.95M	$59.52M	$58.88M
Total Debt	$69.77M	$72.39M	$73.34M	$70.84M
Total Liabilities	$79.33M	$87.00M	$86.63M	$86.53M
Retained Earnings	-$470.85M	-$503.81M	-$530.95M	-$552.41M
Shareholders' Equity	$34.78M	$20.65M	$8.01M	$19.03M
Working Capital	$86.74M	$76.49M	$66.18M	$76.26M
Net Debt	$46.31M	$38.90M	$46.09M	$37.19M

NPCE Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$36.87M	-$19.70M	-$17.95M	-$11.01M
Capital Expenditure	-$603.00K	-$173.00K	-$306.00K	-$332.00K
Free Cash Flow	-$37.47M	-$19.87M	-$18.25M	-$11.34M
Depreciation & Amortisation	$2.99M	$1.60M	$1.77M	$1.95M
Stock-Based Compensation	$8.35M	$9.56M	$10.28M	$11.09M
Investing Cash Flow	$23.80M	$23.03M	$8.99M	-$332.00K
Financing Cash Flow	$490.00K	$8.13M	$4.33M	$19.60M
Share Repurchases	—	—	$0.00	-$49.55M
Net Change in Cash	-$12.58M	$11.45M	-$4.63M	$8.26M

NPCE Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$22.52M	$23.52M	$27.35M	$26.59M	$22.07M
Cost of Revenue	$5.18M	$5.39M	$6.19M	$6.01M	$4.02M
Gross Profit	$17.34M	$18.13M	$21.17M	$20.58M	$18.05M
Research & Development	$7.44M	$6.84M	$6.58M	$7.03M	$7.19M
Selling, General & Admin	$15.05M	$18.11M	$17.19M	$15.32M	$16.43M
Operating Expenses	$22.49M	$24.96M	$23.77M	$22.34M	$23.62M
Operating Income	-$5.15M	-$6.82M	-$2.60M	-$1.77M	-$5.57M
EBITDA	-$3.97M	-$6.12M	-$1.36M	-$607.00K	-$4.66M
Pretax Income	-$6.59M	-$8.65M	-$3.50M	-$2.73M	-$6.69M
Net Income	-$6.59M	-$8.65M	-$3.50M	-$2.73M	-$6.69M
Diluted EPS	-0.21	-0.26	-0.11	-0.08	-0.20
Diluted Shares	31.48M	32.86M	33.13M	33.39M	33.72M

NPCE Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$27.02M	$22.86M	$20.65M	$21.69M	$14.78M
Receivables	$15.44M	$13.55M	$14.94M	$14.68M	$14.79M
Inventory	$13.58M	$16.35M	$18.14M	$16.90M	$16.69M
Current Assets	$97.48M	$93.74M	$95.33M	$94.07M	$86.98M
Total Assets	$110.20M	$106.11M	$107.25M	$105.56M	$98.90M
Current Liabilities	$14.71M	$17.14M	$19.61M	$17.81M	$16.17M
Long-Term Debt	$59.79M	$58.62M	$58.75M	$58.88M	$59.02M
Total Debt	$73.15M	$71.52M	$71.18M	$70.84M	$70.46M
Total Liabilities	$85.94M	$86.68M	$88.74M	$86.53M	$84.44M
Retained Earnings	-$537.54M	-$546.19M	-$549.69M	-$552.41M	-$559.10M
Shareholders' Equity	$24.27M	$19.44M	$18.52M	$19.03M	$14.45M
Working Capital	$82.77M	$76.60M	$75.72M	$76.26M	$70.81M
Net Debt	$32.77M	$35.76M	$38.10M	$37.19M	$44.24M

NPCE Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$7.48M	-$2.09M	-$1.94M	$506.00K	-$5.90M
Capital Expenditure	-$37.00K	-$168.00K	-$30.00K	-$97.00K	-$117.00K
Free Cash Flow	-$7.52M	-$2.25M	-$1.97M	$409.00K	-$6.02M
Depreciation & Amortisation	$462.00K	$477.00K	$487.00K	$522.00K	$513.00K
Stock-Based Compensation	$2.63M	$3.23M	$2.63M	$2.61M	$2.28M
Investing Cash Flow	-$37.00K	-$168.00K	-$30.00K	-$97.00K	-$117.00K
Financing Cash Flow	$21.11M	-$1.91M	-$235.00K	$635.00K	-$166.00K
Share Repurchases	-$49.55M	$0.00	$0.00	$0.00	$0.00
Net Change in Cash	$13.59M	-$4.16M	-$2.21M	$1.04M	-$6.18M

Market Snapshot

About

Neuropace develops and commercializes the RNS System, a brain-responsive neurostimulation device for treating drug-resistant focal epilepsy through personalized, closed-loop therapy.