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NeuroPace (NPCE) Financials

NeuroPace logo
$15.63 -0.11 (-0.70%)
Closing price 04:00 PM Eastern
Extended Trading
$15.66 +0.03 (+0.19%)
As of 04:25 PM Eastern
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Annual Income Statements for NeuroPace

Annual Income Statements for NeuroPace

This table shows NeuroPace's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -47 -33 -27
Consolidated Net Income / (Loss)		 -47 -33 -27
Net Income / (Loss) Continuing Operations		 -47 -33 -27
Total Pre-Tax Income 		-47 -33 -27
Total Operating Income		 -41 -27 -22
Total Gross Profit		 32 48 59
Total Revenue		 46 65 80
Operating Revenue		 46 65 80
Total Cost of Revenue		 13 17 21
Operating Cost of Revenue		 13 17 21
Total Operating Expenses		 73 75 81
Selling, General & Admin Expense		 51 55 57
Research & Development Expense		 22 21 24
Total Other Income / (Expense), net		 -6.29 -5.78 -5.47
Interest Expense		 7.53 8.52 8.80
Interest & Investment Income		 1.58 3.05 3.02
Other Income / (Expense), net		 -0.34 -0.32 0.30
Basic Earnings per Share		 ($1.91) ($1.27) ($0.93)
Weighted Average Basic Shares Outstanding		 24.59M 25.85M 29.13M
Diluted Earnings per Share		 ($1.91) ($1.27) ($0.93)
Weighted Average Diluted Shares Outstanding		 24.59M 25.85M 29.13M
Weighted Average Basic & Diluted Shares Outstanding		 25.10M 28.34M 32.56M
Cash Dividends to Common per Share		 - $0.00 $0.00

Quarterly Income Statements for NeuroPace

This table shows NeuroPace's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -12 -11 -10 -9.12 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25
Consolidated Net Income / (Loss)		 -12 -11 -10 -9.12 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25
Net Income / (Loss) Continuing Operations		 -12 -11 -10 -9.12 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25
Total Pre-Tax Income 		-12 -11 -10 -9.12 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25
Total Operating Income		 -10 -9.86 -8.32 -7.85 -5.95 -5.05 -7.55 -6.23 -4.24 -3.65
Total Gross Profit		 7.97 8.80 10 12 12 14 13 14 15 16
Total Revenue		 11 13 14 17 16 18 18 19 21 21
Operating Revenue		 11 13 14 17 16 18 18 19 21 21
Total Cost of Revenue		 3.19 3.99 4.10 4.54 4.19 4.47 4.78 5.12 5.64 5.28
Operating Cost of Revenue		 3.19 3.99 4.10 4.54 4.19 4.47 4.78 5.12 5.64 5.28
Total Operating Expenses		 18 19 19 20 18 19 21 20 20 20
Selling, General & Admin Expense		 13 14 13 14 13 13 15 14 14 14
Research & Development Expense		 5.61 5.09 5.26 5.34 4.80 5.38 5.78 6.07 5.75 6.05
Total Other Income / (Expense), net		 -1.59 -1.29 -2.06 -1.27 -1.31 -1.15 -1.38 -1.28 -1.21 -1.60
Interest Expense		 1.91 1.94 1.97 2.13 2.19 2.24 2.26 2.17 2.18 2.19
Interest & Investment Income		 0.42 0.80 0.73 0.73 0.77 0.82 0.83 0.76 0.75 0.68
Other Income / (Expense), net		 -0.10 -0.15 -0.82 0.12 0.12 0.27 0.05 0.12 0.22 -0.09
Basic Earnings per Share		 ($0.48) ($0.44) ($0.41) ($0.36) ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16)
Weighted Average Basic Shares Outstanding		 24.73M 24.59M 25.10M 25.47M 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M
Diluted Earnings per Share		 ($0.48) ($0.44) ($0.41) ($0.36) ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16)
Weighted Average Diluted Shares Outstanding		 24.73M 24.59M 25.10M 25.47M 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M
Weighted Average Basic & Diluted Shares Outstanding		 24.90M 25.10M 25.41M 25.86M 26.28M 28.34M 28.77M 29.20M 29.85M 32.56M

Annual Cash Flow Statements for NeuroPace

This table details how cash moves in and out of NeuroPace's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -13 11 -4.63
Net Cash From Operating Activities		 -37 -20 -18
Net Cash From Continuing Operating Activities		 -37 -20 -18
Net Income / (Loss) Continuing Operations		 -47 -33 -27
Consolidated Net Income / (Loss)		 -47 -33 -27
Depreciation Expense		 0.27 0.17 0.21
Amortization Expense		 2.98 1.72 1.79
Non-Cash Adjustments To Reconcile Net Income		 12 12 13
Changes in Operating Assets and Liabilities, net		 -4.79 -1.07 -5.45
Net Cash From Investing Activities		 24 23 8.99
Net Cash From Continuing Investing Activities		 24 23 8.99
Purchase of Property, Plant & Equipment		 -0.60 -0.17 -0.31
Sale and/or Maturity of Investments		 24 23 9.30
Net Cash From Financing Activities		 0.49 8.13 4.33
Net Cash From Continuing Financing Activities		 0.49 8.13 4.33
Repurchase of Common Equity		 -0.35 -0.31 0.00
Issuance of Common Equity		 0.90 8.69 5.21
Other Financing Activities, net		 -0.06 -0.26 -0.88
Cash Interest Paid		 4.46 4.48 6.23

Quarterly Cash Flow Statements for NeuroPace

This table details how cash moves in and out of NeuroPace's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -0.01 0.92 0.12 1.14 1.86 8.34 -5.06 -0.15 2.57 -1.99
Net Cash From Operating Activities		 -6.98 -7.84 -9.70 -4.36 -2.30 -3.34 -7.53 -3.90 -1.72 -4.80
Net Cash From Continuing Operating Activities		 -6.98 -7.84 -9.70 -4.36 -2.30 -3.34 -7.53 -3.90 -1.72 -4.80
Net Income / (Loss) Continuing Operations		 -12 -11 -10 -9.12 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25
Consolidated Net Income / (Loss)		 -12 -11 -10 -9.12 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25
Depreciation Expense		 0.06 0.05 0.05 0.05 0.04 0.04 0.05 0.06 0.06 0.05
Amortization Expense		 0.74 0.76 0.41 0.42 0.44 0.45 0.46 0.44 0.44 0.45
Non-Cash Adjustments To Reconcile Net Income		 3.19 3.15 3.86 2.82 4.00 1.75 3.54 3.47 2.68 2.96
Changes in Operating Assets and Liabilities, net		 0.82 -0.67 -3.64 1.47 0.48 0.62 -2.65 -0.35 0.55 -3.00
Net Cash From Investing Activities		 6.97 8.90 10 5.30 4.19 3.47 2.40 3.24 1.40 1.96
Net Cash From Continuing Investing Activities		 6.97 8.90 10 5.30 4.19 3.47 2.40 3.24 1.40 1.96
Purchase of Property, Plant & Equipment		 -0.03 -0.10 -0.13 - -0.01 -0.03 -0.10 -0.06 -0.10 -0.04
Sale and/or Maturity of Investments		 7.00 9.00 10 5.30 4.20 3.50 2.50 3.30 1.50 2.00
Net Cash From Financing Activities		 -0.01 -0.14 -0.26 0.20 -0.03 8.21 0.07 0.51 2.90 0.85
Net Cash From Continuing Financing Activities		 -0.01 -0.14 -0.26 0.20 -0.03 8.21 0.07 0.51 2.90 0.85
Issuance of Common Equity		 - 0.21 0.00 0.25 0.01 8.44 0.72 0.58 0.03 3.87
Other Financing Activities, net		 -0.01 -0.00 -0.15 -0.04 -0.04 -0.04 -0.65 -0.07 2.86 -3.02
Cash Interest Paid		 0.97 0.98 1.02 1.13 1.16 1.17 1.17 1.19 1.93 1.93

Annual Balance Sheets for NeuroPace

This table presents NeuroPace's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 114 108 95
Total Current Assets		 98 93 81
Cash & Equivalents		 6.61 18 13
Short-Term Investments		 71 48 39
Accounts Receivable		 7.48 12 13
Inventories, net		 9.71 11 13
Prepaid Expenses		 3.11 2.74 2.35
Plant, Property, & Equipment, net		 1.06 1.00 1.05
Total Noncurrent Assets		 15 14 12
Other Noncurrent Operating Assets		 15 14 12
Total Liabilities & Shareholders' Equity		 114 108 95
Total Liabilities		 79 87 87
Total Current Liabilities		 11 16 15
Accounts Payable		 2.15 2.33 2.95
Accrued Expenses		 7.41 11 9.79
Current Deferred Revenue		 0.00 1.09 0.56
Other Current Liabilities		 1.42 1.63 1.86
Total Noncurrent Liabilities		 68 71 71
Long-Term Debt		 53 57 60
Other Noncurrent Operating Liabilities		 15 14 12
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 35 21 8.01
Total Preferred & Common Equity		 35 21 8.01
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 35 21 8.01
Common Stock		 507 524 539
Retained Earnings		 -471 -504 -531

Quarterly Balance Sheets for NeuroPace

This table presents NeuroPace's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 120 106 102 99 99 94 96
Total Current Assets		 104 90 87 84 84 80 83
Cash & Equivalents		 5.69 6.72 7.86 9.72 13 13 15
Short-Term Investments		 80 61 56 52 46 43 41
Accounts Receivable		 7.88 9.19 11 11 12 11 12
Inventories, net		 8.58 11 10 9.76 11 11 12
Prepaid Expenses		 2.50 2.60 2.05 1.59 2.26 2.08 2.12
Plant, Property, & Equipment, net		 0.89 1.02 0.98 0.95 1.05 1.00 1.04
Total Noncurrent Assets		 15 15 15 14 14 13 13
Other Noncurrent Operating Assets		 15 15 15 14 14 13 13
Total Liabilities & Shareholders' Equity		 120 106 102 99 99 94 96
Total Liabilities		 77 79 81 83 85 85 86
Total Current Liabilities		 9.42 9.88 12 13 13 13 15
Accounts Payable		 1.18 1.83 1.81 1.21 3.27 2.29 2.16
Accrued Expenses		 7.55 6.58 8.18 10 7.29 7.75 10
Current Deferred Revenue		 - - - - 0.87 0.81 0.75
Other Current Liabilities		 0.69 1.47 1.52 1.57 1.68 1.74 1.80
Total Noncurrent Liabilities		 68 69 69 70 71 72 72
Long-Term Debt		 52 54 55 56 58 59 59
Other Noncurrent Operating Liabilities		 16 15 15 14 13 13 12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 43 27 21 16 14 9.89 9.82
Total Preferred & Common Equity		 43 27 21 16 14 9.89 9.82
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 43 27 21 16 14 9.89 9.82
Common Stock		 504 509 512 514 527 530 536
Retained Earnings		 -460 -481 -490 -498 -513 -520 -526

Annual Metrics And Ratios for NeuroPace

This table displays calculated financial ratios and metrics derived from NeuroPace's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 0.75% 43.72% 22.14%
EBITDA Growth		 -32.68% 32.43% 24.34%
EBIT Growth		 -41.26% 33.17% 22.27%
NOPAT Growth		 -71.86% 33.39% 20.25%
Net Income Growth		 -30.49% 30.00% 17.64%
EPS Growth		 11.98% 33.51% 26.77%
Operating Cash Flow Growth		 -50.01% 46.56% 8.89%
Free Cash Flow Firm Growth		 -94.11% 35.97% 5.51%
Invested Capital Growth		 32.38% 8.49% 32.54%
Revenue Q/Q Growth		 4.10% 8.68% 4.52%
EBITDA Q/Q Growth		 -0.84% 16.03% 5.20%
EBIT Q/Q Growth		 -2.46% 15.96% 4.67%
NOPAT Q/Q Growth		 -2.11% 15.03% 6.06%
Net Income Q/Q Growth		 -0.97% 13.05% 3.38%
EPS Q/Q Growth		 -106.39% 14.77% 6.06%
Operating Cash Flow Q/Q Growth		 0.97% 18.60% -8.83%
Free Cash Flow Firm Q/Q Growth		 -3.72% 14.76% -7.40%
Invested Capital Q/Q Growth		 3.32% 2.29% 20.59%
Profitability Metrics		 - - -
Gross Margin		 71.38% 73.56% 73.94%
EBITDA Margin		 -83.23% -39.13% -24.24%
Operating Margin		 -89.62% -41.54% -27.12%
EBIT Margin		 -90.36% -42.02% -26.74%
Profit (Net Income) Margin		 -103.43% -50.38% -33.97%
Tax Burden Percent		 100.00% 100.00% 100.00%
Interest Burden Percent		 114.47% 119.89% 127.02%
Effective Tax Rate		 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -316.46% -177.48% -116.97%
ROIC Less NNEP Spread (ROIC-NNEP)		 -275.40% -95.51% 760.04%
Return on Net Nonoperating Assets (RNNOA)		 229.50% 58.58% -72.38%
Return on Equity (ROE)		 -86.96% -118.91% -189.35%
Cash Return on Invested Capital (CROIC)		 -344.33% -185.63% -144.96%
Operating Return on Assets (OROA)		 -33.21% -24.79% -21.12%
Return on Assets (ROA)		 -38.02% -29.72% -26.83%
Return on Common Equity (ROCE)		 -86.96% -118.91% -189.35%
Return on Equity Simple (ROE_SIMPLE)		 -135.38% -159.56% -338.71%
Net Operating Profit after Tax (NOPAT)		 -29 -19 -15
NOPAT Margin		 -62.73% -29.08% -18.98%
Net Nonoperating Expense Percent (NNEP)		 -41.06% -81.98% -877.02%
Return On Investment Capital (ROIC_SIMPLE)		 - -24.51% -22.46%
Cost of Revenue to Revenue		 28.62% 26.44% 26.06%
SG&A Expenses to Revenue		 112.79% 83.33% 71.46%
R&D to Revenue		 48.21% 31.76% 29.60%
Operating Expenses to Revenue		 161.00% 115.09% 101.06%
Earnings before Interest and Taxes (EBIT)		 -41 -27 -21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -38 -26 -19
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.07 13.12 41.68
Price to Tangible Book Value (P/TBV)		 1.07 13.12 41.68
Price to Revenue (P/Rev)		 0.82 4.14 4.18
Price to Earnings (P/E)		 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.23 23.44 23.05
Enterprise Value to Revenue (EV/Rev)		 0.28 4.00 4.26
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 1.52 2.76 7.43
Long-Term Debt to Equity		 1.52 2.76 7.43
Financial Leverage		 -0.83 -0.61 -0.10
Leverage Ratio		 2.29 4.00 7.06
Compound Leverage Factor		 2.62 4.80 8.96
Debt to Total Capital		 60.34% 73.39% 88.14%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 60.34% 73.39% 88.14%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 39.66% 26.61% 11.86%
Debt to EBITDA		 -1.40 -2.22 -3.07
Net Debt to EBITDA		 0.65 0.37 -0.35
Long-Term Debt to EBITDA		 -1.40 -2.22 -3.07
Debt to NOPAT		 -1.85 -2.99 -3.92
Net Debt to NOPAT		 0.86 0.50 -0.45
Long-Term Debt to NOPAT		 -1.85 -2.99 -3.92
Altman Z-Score		 -5.37 -4.07 -4.60
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Current Ratio		 8.90 5.71 5.37
Quick Ratio		 7.73 4.85 4.33
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -31 -20 -19
Operating Cash Flow to CapEx		 -6,114.26% -11,387.86% -5,865.69%
Free Cash Flow to Firm to Interest Expense		 -4.13 -2.34 -2.14
Operating Cash Flow to Interest Expense		 -4.90 -2.31 -2.04
Operating Cash Flow Less CapEx to Interest Expense		 -4.98 -2.33 -2.07
Efficiency Ratios		 - - -
Asset Turnover		 0.37 0.59 0.79
Accounts Receivable Turnover		 6.25 6.61 6.35
Inventory Turnover		 1.49 1.65 1.69
Fixed Asset Turnover		 54.61 63.30 77.77
Accounts Payable Turnover		 7.39 7.72 7.88
Days Sales Outstanding (DSO)		 58.43 55.22 57.48
Days Inventory Outstanding (DIO)		 245.64 220.76 215.58
Days Payable Outstanding (DPO)		 49.38 47.25 46.33
Cash Conversion Cycle (CCC)		 254.68 228.74 226.72
Capital & Investment Metrics		 - - -
Invested Capital		 10 11 15
Invested Capital Turnover		 5.04 6.10 6.16
Increase / (Decrease) in Invested Capital		 2.52 0.87 3.63
Enterprise Value (EV)		 13 261 341
Market Capitalization		 37 271 334
Book Value per Share		 $1.40 $0.79 $0.27
Tangible Book Value per Share		 $1.40 $0.79 $0.27
Total Capital		 88 78 68
Total Debt		 53 57 60
Total Long-Term Debt		 53 57 60
Net Debt		 -24 -9.50 6.77
Capital Expenditures (CapEx)		 0.60 0.17 0.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 9.33 10 13
Debt-free Net Working Capital (DFNWC)		 87 76 66
Net Working Capital (NWC)		 87 76 66
Net Nonoperating Expense (NNE)		 19 14 12
Net Nonoperating Obligations (NNO)		 -24 -9.50 6.77
Total Depreciation and Amortization (D&A)		 3.25 1.89 2.00
Debt-free, Cash-free Net Working Capital to Revenue		 20.49% 15.34% 16.80%
Debt-free Net Working Capital to Revenue		 190.55% 116.92% 82.83%
Net Working Capital to Revenue		 190.55% 116.92% 82.83%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($1.91) ($1.27) ($0.93)
Adjusted Weighted Average Basic Shares Outstanding		 24.59M 25.85M 29.13M
Adjusted Diluted Earnings per Share		 ($1.91) ($1.27) ($0.93)
Adjusted Weighted Average Diluted Shares Outstanding		 24.59M 25.85M 29.13M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 25.10M 28.34M 32.56M
Normalized Net Operating Profit after Tax (NOPAT)		 -29 -19 -15
Normalized NOPAT Margin		 -62.73% -29.08% -18.98%
Pre Tax Income Margin		 -103.43% -50.38% -33.97%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 -5.46 -3.23 -2.43
NOPAT to Interest Expense		 -3.79 -2.23 -1.72
EBIT Less CapEx to Interest Expense		 -5.54 -3.25 -2.46
NOPAT Less CapEx to Interest Expense		 -3.87 -2.25 -1.76
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -0.74% -0.93% 0.00%

Quarterly Metrics And Ratios for NeuroPace

This table displays calculated financial ratios and metrics derived from NeuroPace's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 7.91% 16.30% 27.24% 61.86% 47.23% 40.84% 25.23% 16.63% 28.20% 19.18%
EBITDA Growth		 -51.74% -3.56% 3.01% 29.20% 43.54% 53.18% 19.41% 22.70% 34.25% 24.69%
EBIT Growth		 -61.15% -10.96% 6.44% 30.08% 43.36% 52.16% 17.97% 20.98% 31.04% 21.88%
NOPAT Growth		 -63.37% -9.36% 14.78% 28.43% 41.66% 48.77% 9.30% 20.68% 28.69% 27.68%
Net Income Growth		 -45.80% -4.24% 9.48% 28.10% 38.42% 44.37% 13.98% 17.65% 24.87% 15.32%
EPS Growth		 -41.18% -101.40% 12.77% 30.77% 41.67% 50.00% 21.95% 27.78% 32.14% 27.27%
Operating Cash Flow Growth		 -57.66% 4.39% 14.88% 59.09% 67.00% 57.40% 22.38% 10.55% 25.11% -43.58%
Free Cash Flow Firm Growth		 25.95% -65.15% -8.95% 28.49% 43.94% 53.18% 49.13% 19.73% 15.49% -40.32%
Invested Capital Growth		 25.01% 32.38% 40.67% 8.69% 9.58% 8.49% -2.18% 6.84% 12.43% 32.54%
Revenue Q/Q Growth		 9.38% 14.63% 13.16% 14.08% -0.50% 9.65% 0.62% 6.25% 9.37% 1.93%
EBITDA Q/Q Growth		 7.36% 3.28% 5.55% 16.33% 26.13% 19.80% -62.59% 19.75% 37.17% 8.14%
EBIT Q/Q Growth		 6.85% 2.88% 8.69% 15.37% 24.53% 17.98% -56.58% 18.47% 34.14% 7.08%
NOPAT Q/Q Growth		 7.06% 3.33% 15.62% 5.59% 24.24% 15.11% -49.38% 17.43% 31.89% 13.91%
Net Income Q/Q Growth		 7.13% 5.42% 6.92% 12.06% 20.46% 14.57% -43.95% 15.81% 27.44% 3.71%
EPS Q/Q Growth		 7.69% 8.33% 6.82% 12.20% 22.22% 21.43% -45.45% 18.75% 26.92% 15.79%
Operating Cash Flow Q/Q Growth		 34.56% -12.44% -23.65% 55.04% 47.20% -45.13% -125.32% 48.19% 55.79% -178.25%
Free Cash Flow Firm Q/Q Growth		 -0.48% -3.13% -4.01% 33.66% 21.23% 13.86% -13.02% -4.69% 17.08% -43.03%
Invested Capital Q/Q Growth		 -13.54% 3.32% 33.59% -8.92% -12.83% 2.29% 20.45% -0.53% -8.27% 20.59%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 71.39% 68.83% 71.67% 72.51% 74.47% 75.20% 73.62% 73.40% 73.22% 75.41%
EBITDA Margin		 -85.14% -71.84% -59.96% -43.97% -32.65% -23.88% -38.58% -29.14% -16.74% -15.09%
Operating Margin		 -91.41% -77.09% -57.48% -47.57% -36.22% -28.04% -41.63% -32.35% -20.15% -17.02%
EBIT Margin		 -92.34% -78.23% -63.13% -46.83% -35.52% -26.57% -41.35% -31.73% -19.11% -17.42%
Profit (Net Income) Margin		 -105.63% -87.15% -71.69% -55.26% -44.18% -34.42% -49.24% -39.02% -25.89% -24.46%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 114.40% 111.40% 113.56% 118.00% 124.37% 129.54% 119.10% 122.98% 135.49% 140.41%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -312.45% -272.22% -166.52% -152.31% -146.37% -119.82% -148.17% -125.73% -93.10% -73.40%
ROIC Less NNEP Spread (ROIC-NNEP)		 -303.78% -262.81% -152.89% -137.84% -130.48% -104.15% -98.47% -5.34% 71.10% 123.88%
Return on Net Nonoperating Assets (RNNOA)		 260.30% 219.01% 113.11% 93.18% 84.96% 63.87% 34.52% 0.90% -8.21% -11.80%
Return on Equity (ROE)		 -52.15% -53.21% -53.40% -59.13% -61.42% -55.95% -113.66% -124.83% -101.31% -85.20%
Cash Return on Invested Capital (CROIC)		 -334.50% -344.33% -268.26% -219.52% -223.84% -185.63% -133.84% -140.67% -151.13% -144.96%
Operating Return on Assets (OROA)		 -30.85% -28.76% -26.09% -23.30% -19.46% -15.68% -27.85% -23.18% -14.94% -13.76%
Return on Assets (ROA)		 -35.30% -32.04% -29.63% -27.50% -24.20% -20.31% -33.16% -28.51% -20.24% -19.32%
Return on Common Equity (ROCE)		 -52.15% -53.21% -53.40% -59.13% -61.42% -55.95% -113.66% -124.83% -101.31% -85.20%
Return on Equity Simple (ROE_SIMPLE)		 -107.42% 0.00% -167.32% -199.90% -231.63% 0.00% -219.69% -302.44% -285.97% 0.00%
Net Operating Profit after Tax (NOPAT)		 -7.14 -6.90 -5.82 -5.50 -4.17 -3.54 -5.28 -4.36 -2.97 -2.56
NOPAT Margin		 -63.99% -53.96% -40.24% -33.30% -25.35% -19.63% -29.14% -22.65% -14.10% -11.91%
Net Nonoperating Expense Percent (NNEP)		 -8.67% -9.41% -13.62% -14.47% -15.89% -15.67% -49.70% -120.39% -164.20% -197.28%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - -4.56% - - - -3.79%
Cost of Revenue to Revenue		 28.61% 31.17% 28.33% 27.49% 25.53% 24.80% 26.38% 26.60% 26.78% 24.59%
SG&A Expenses to Revenue		 112.51% 106.13% 92.79% 87.72% 81.50% 73.39% 83.34% 74.26% 66.04% 64.25%
R&D to Revenue		 50.29% 39.79% 36.37% 32.36% 29.19% 29.85% 31.91% 31.50% 27.32% 28.18%
Operating Expenses to Revenue		 162.80% 145.92% 129.15% 120.08% 110.69% 103.24% 115.25% 105.75% 93.37% 92.43%
Earnings before Interest and Taxes (EBIT)		 -10 -10 -9.14 -7.73 -5.84 -4.79 -7.49 -6.11 -4.02 -3.74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -9.50 -9.19 -8.68 -7.26 -5.36 -4.30 -6.99 -5.61 -3.53 -3.24
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.15 1.07 4.24 5.37 15.38 13.12 26.09 22.00 20.72 41.68
Price to Tangible Book Value (P/TBV)		 2.15 1.07 4.24 5.37 15.38 13.12 26.09 22.00 20.72 41.68
Price to Revenue (P/Rev)		 2.13 0.82 2.40 2.08 4.18 4.14 5.42 3.03 2.66 4.18
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 6.00 1.23 7.48 8.42 22.57 23.44 27.78 16.53 16.80 23.05
Enterprise Value to Revenue (EV/Rev)		 1.37 0.28 2.11 1.92 4.09 4.00 5.40 3.08 2.69 4.26
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.20 1.52 1.96 2.58 3.42 2.76 4.05 5.97 6.03 7.43
Long-Term Debt to Equity		 1.20 1.52 1.96 2.58 3.42 2.76 4.05 5.97 6.03 7.43
Financial Leverage		 -0.86 -0.83 -0.74 -0.68 -0.65 -0.61 -0.35 -0.17 -0.12 -0.10
Leverage Ratio		 2.09 2.29 2.60 2.98 3.68 4.00 4.90 6.32 7.47 7.06
Compound Leverage Factor		 2.39 2.55 2.96 3.51 4.57 5.18 5.84 7.77 10.12 9.91
Debt to Total Capital		 54.48% 60.34% 66.21% 72.10% 77.35% 73.39% 80.19% 85.65% 85.78% 88.14%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 54.48% 60.34% 66.21% 72.10% 77.35% 73.39% 80.19% 85.65% 85.78% 88.14%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 45.52% 39.66% 33.79% 27.90% 22.65% 26.61% 19.81% 14.35% 14.22% 11.86%
Debt to EBITDA		 -1.38 -1.40 -1.43 -1.58 -1.83 -2.22 -2.43 -2.65 -2.90 -3.07
Net Debt to EBITDA		 0.89 0.65 0.37 0.25 0.18 0.37 0.04 -0.16 -0.12 -0.35
Long-Term Debt to EBITDA		 -1.38 -1.40 -1.43 -1.58 -1.83 -2.22 -2.43 -2.65 -2.90 -3.07
Debt to NOPAT		 -1.86 -1.85 -1.96 -2.16 -2.50 -2.99 -3.14 -3.40 -3.67 -3.92
Net Debt to NOPAT		 1.20 0.86 0.50 0.34 0.24 0.50 0.05 -0.20 -0.15 -0.45
Long-Term Debt to NOPAT		 -1.86 -1.85 -1.96 -2.16 -2.50 -2.99 -3.14 -3.40 -3.67 -3.92
Altman Z-Score		 -3.59 -4.47 -4.37 -4.70 -3.92 -3.37 -3.29 -4.77 -4.73 -3.99
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 11.08 8.90 9.13 7.52 6.55 5.71 6.43 6.37 5.59 5.37
Quick Ratio		 9.91 7.73 7.78 6.47 5.67 4.85 5.38 5.31 4.63 4.33
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -9.13 -9.42 -9.79 -6.50 -5.12 -4.41 -4.98 -5.22 -4.33 -6.19
Operating Cash Flow to CapEx		 -22,500.00% -7,689.22% -7,346.97% 0.00% -25,577.78% -10,440.63% -7,238.46% -6,190.48% -1,724.00% -12,300.00%
Free Cash Flow to Firm to Interest Expense		 -4.79 -4.85 -4.98 -3.06 -2.34 -1.97 -2.21 -2.41 -1.98 -2.82
Operating Cash Flow to Interest Expense		 -3.66 -4.04 -4.94 -2.05 -1.05 -1.49 -3.33 -1.80 -0.79 -2.19
Operating Cash Flow Less CapEx to Interest Expense		 -3.68 -4.09 -5.00 -2.05 -1.05 -1.51 -3.38 -1.83 -0.84 -2.21
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.33 0.37 0.41 0.50 0.55 0.59 0.67 0.73 0.78 0.79
Accounts Receivable Turnover		 6.04 6.25 5.33 5.68 6.29 6.61 6.63 6.49 6.69 6.35
Inventory Turnover		 1.52 1.49 1.49 1.72 1.83 1.65 1.62 1.74 1.83 1.69
Fixed Asset Turnover		 57.61 54.61 51.61 57.01 65.33 63.30 66.67 72.76 76.84 77.77
Accounts Payable Turnover		 9.85 7.39 6.91 9.56 14.12 7.72 7.06 9.06 11.89 7.88
Days Sales Outstanding (DSO)		 60.46 58.43 68.52 64.29 58.07 55.22 55.02 56.20 54.52 57.48
Days Inventory Outstanding (DIO)		 240.19 245.64 245.55 212.70 199.02 220.76 224.99 210.15 199.22 215.58
Days Payable Outstanding (DPO)		 37.06 49.38 52.84 38.19 25.85 47.25 51.74 40.28 30.71 46.33
Cash Conversion Cycle (CCC)		 263.59 254.68 261.24 238.79 231.24 228.74 228.28 226.08 223.03 226.72
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 9.95 10 14 13 11 11 13 13 12 15
Invested Capital Turnover		 4.88 5.04 4.14 4.57 5.77 6.10 5.08 5.55 6.60 6.16
Increase / (Decrease) in Invested Capital		 1.99 2.52 3.97 1.00 0.95 0.87 -0.30 0.86 1.36 3.63
Enterprise Value (EV)		 60 13 103 105 246 261 373 221 206 341
Market Capitalization		 93 37 116 114 252 271 374 217 204 334
Book Value per Share		 $1.75 $1.40 $1.10 $0.84 $0.63 $0.79 $0.51 $0.34 $0.34 $0.27
Tangible Book Value per Share		 $1.75 $1.40 $1.10 $0.84 $0.63 $0.79 $0.51 $0.34 $0.34 $0.27
Total Capital		 95 88 81 76 72 78 72 69 69 68
Total Debt		 52 53 54 55 56 57 58 59 59 60
Total Long-Term Debt		 52 53 54 55 56 57 58 59 59 60
Net Debt		 -33 -24 -14 -8.72 -5.46 -9.50 -0.91 3.48 2.44 6.77
Capital Expenditures (CapEx)		 0.03 0.10 0.13 0.00 0.01 0.03 0.10 0.06 0.10 0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 9.54 9.33 13 11 9.81 10 12 12 11 13
Debt-free Net Working Capital (DFNWC)		 95 87 80 75 71 76 71 68 68 66
Net Working Capital (NWC)		 95 87 80 75 71 76 71 68 68 66
Net Nonoperating Expense (NNE)		 4.65 4.24 4.55 3.63 3.09 2.66 3.64 3.15 2.48 2.69
Net Nonoperating Obligations (NNO)		 -33 -24 -14 -8.72 -5.46 -9.50 -0.91 3.48 2.44 6.77
Total Depreciation and Amortization (D&A)		 0.80 0.82 0.46 0.47 0.47 0.49 0.50 0.50 0.50 0.50
Debt-free, Cash-free Net Working Capital to Revenue		 21.82% 20.49% 26.05% 20.81% 16.30% 15.34% 17.66% 16.85% 14.36% 16.80%
Debt-free Net Working Capital to Revenue		 217.14% 190.55% 165.13% 136.55% 118.21% 116.92% 103.00% 94.18% 88.70% 82.83%
Net Working Capital to Revenue		 217.14% 190.55% 165.13% 136.55% 118.21% 116.92% 103.00% 94.18% 88.70% 82.83%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.48) ($0.44) ($0.41) ($0.36) ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16)
Adjusted Weighted Average Basic Shares Outstanding		 24.73M 24.59M 25.10M 25.47M 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M
Adjusted Diluted Earnings per Share		 ($0.48) ($0.44) ($0.41) ($0.36) ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16)
Adjusted Weighted Average Diluted Shares Outstanding		 24.73M 24.59M 25.10M 25.47M 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 24.90M 25.10M 25.41M 25.86M 26.28M 28.34M 28.77M 29.20M 29.85M 32.56M
Normalized Net Operating Profit after Tax (NOPAT)		 -7.14 -6.90 -5.82 -5.50 -4.17 -3.54 -5.28 -4.36 -2.97 -2.56
Normalized NOPAT Margin		 -63.99% -53.96% -40.24% -33.30% -25.35% -19.63% -29.14% -22.65% -14.10% -11.91%
Pre Tax Income Margin		 -105.63% -87.15% -71.69% -55.26% -44.18% -34.42% -49.24% -39.02% -25.89% -24.46%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -5.41 -5.15 -4.65 -3.64 -2.66 -2.14 -3.32 -2.82 -1.84 -1.71
NOPAT to Interest Expense		 -3.75 -3.56 -2.96 -2.59 -1.90 -1.58 -2.34 -2.01 -1.36 -1.17
EBIT Less CapEx to Interest Expense		 -5.42 -5.21 -4.72 -3.64 -2.67 -2.15 -3.36 -2.85 -1.89 -1.72
NOPAT Less CapEx to Interest Expense		 -3.76 -3.61 -3.03 -2.59 -1.91 -1.60 -2.39 -2.04 -1.41 -1.18
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -0.74% -0.99% -1.10% -1.23% -0.93% -0.62% -0.62% -0.66% 0.00%

Financials Breakdown Chart

Key Financial Trends

NeuroPace (NASDAQ: NPCE) showed solid top-line growth in Q4 2024, but profitability remains out of reach and cash burn is still a key issue. Revenue continued to rise year over year, yet the company posted another quarterly net loss and negative operating cash flow. The balance sheet still appears fairly liquid thanks to cash, short-term investments, and financing activity, but investors should keep an eye on the ongoing need to fund operations.

  • Revenue growth continued. Q4 2024 revenue rose to $21.5 million from $18.0 million in Q4 2023, showing continued demand growth.
  • Gross profit improved year over year. Gross profit increased to $16.2 million from $13.5 million, helped by higher revenue and a manageable cost of revenue.
  • Operating losses narrowed slightly. Operating loss improved to $3.7 million in Q4 2024 from $5.1 million in Q4 2023.
  • Other income helped a bit. The company recorded $681,000 of interest and investment income in Q4 2024, partially offsetting interest expense.
  • Liquidity remains supported by investments. NeuroPace generated $2.0 million from sales/maturity of investments in Q4 2024 and ended Q3 2024 with a sizable cash and investment position.
  • Revenue growth was steady, not explosive. Quarterly revenue increased from $18.1 million in Q1 2024 to $21.5 million in Q4 2024, but the pace suggests gradual rather than rapid scaling.
  • R&D spending stayed elevated. Research and development expense remained around $5.8 million to $6.1 million per quarter, indicating continued investment in the business.
  • Share count drifted higher. Weighted average basic shares rose to 29.1 million in Q4 2024 from 25.3 million in Q1 2024, which can dilute future per-share results.
  • Balance sheet leverage is still meaningful. Long-term debt was $59.3 million at the end of Q3 2024, so interest burden remains an important drag on earnings.
  • The company is still unprofitable. Q4 2024 net loss was $5.25 million, after a $5.45 million loss in Q3 2024 and a $7.51 million loss in Q2 2024.
  • Operating cash flow was negative. NeuroPace used $4.8 million of operating cash in Q4 2024, following negative operating cash flow in each of the prior quarters shown.
  • Cash declined sequentially in Q4 2024. Net cash and equivalents fell by $2.0 million in the quarter, showing that operations still consume liquidity.
  • Interest expense is a major burden. Q4 2024 interest expense was $2.2 million, which is large relative to revenue and contributes to the losses.
  • Margins remain under pressure. Operating expenses of $19.8 million nearly matched total revenue, leaving little room for earnings leverage.

Bottom line: NeuroPace is making progress on revenue growth and modest operating improvement, but the company is still far from profitability. For investors, the key questions are whether revenue can keep scaling faster than expenses and whether cash burn stays manageable enough to avoid repeated financing needs.

06/08/26 09:07 PM ETAI Generated. May Contain Errors.

NeuroPace Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NeuroPace's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

NeuroPace's net income appears to be on a downward trend, with a most recent value of -$27.14 million in 2024, falling from -$47.08 million in 2022. The previous period was -$32.96 million in 2023. Check out NeuroPace's forecast to explore projected trends and price targets.

NeuroPace's total operating income in 2024 was -$21.67 million, based on the following breakdown:
  • Total Gross Profit: $59.09 million
  • Total Operating Expenses: $80.76 million

Over the last 2 years, NeuroPace's total revenue changed from $45.52 million in 2022 to $79.91 million in 2024, a change of 75.5%.

NeuroPace's total liabilities were at $86.63 million at the end of 2024, a 0.4% decrease from 2023, and a 9.2% increase since 2022.

In the past 2 years, NeuroPace's cash and equivalents has ranged from $6.61 million in 2022 to $18.06 million in 2023, and is currently $13.43 million as of their latest financial filing in 2024.

Over the last 2 years, NeuroPace's book value per share changed from 1.40 in 2022 to 0.27 in 2024, a change of -80.8%.


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Financial statements for NASDAQ:NPCE last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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