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NeuroPace (NPCE) Financials

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$15.78 +0.03 (+0.21%)
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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 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -24 -36 -47 -33 -27 -21
Consolidated Net Income / (Loss)		 -24 -36 -47 -33 -27 -21
Net Income / (Loss) Continuing Operations		 -24 -36 -47 -33 -27 -21
Total Pre-Tax Income 		-24 -36 -47 -33 -27 -21
Total Operating Income		 -13 -24 -41 -27 -22 -16
Total Gross Profit		 30 33 32 48 59 77
Total Revenue		 41 45 46 65 80 100
Operating Revenue		 - 45 46 65 80 100
Total Cost of Revenue		 11 12 13 17 21 23
Operating Cost of Revenue		 - 12 13 17 21 23
Total Operating Expenses		 43 57 73 75 81 94
Selling, General & Admin Expense		 28 39 51 55 17 19
Marketing Expense		 - - - - 40 47
Research & Development Expense		 16 18 22 21 24 28
Total Other Income / (Expense), net		 -11 -12 -6.29 -5.78 -5.47 -5.13
Interest Expense		 11 7.41 7.53 8.52 8.80 7.46
Interest & Investment Income		 0.04 0.45 1.58 3.05 3.02 2.82
Other Income / (Expense), net		 0.22 -5.38 -0.34 -0.32 0.30 -0.49
Basic Earnings per Share		 ($117.85) ($2.17) ($1.91) ($1.27) ($0.93) ($0.66)
Weighted Average Basic Shares Outstanding		 204.07K 16.61M 24.59M 25.85M 29.13M 32.72M
Diluted Earnings per Share		 ($117.85) ($2.17) ($1.91) ($1.27) ($0.93) ($0.66)
Weighted Average Diluted Shares Outstanding		 204.07K 16.61M 24.59M 25.85M 29.13M 32.72M
Weighted Average Basic & Diluted Shares Outstanding		 - 24.47M 25.10M 28.34M 32.56M 33.67M
Cash Dividends to Common per Share		 - - - $0.00 $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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25 -6.59 -8.65 -3.50 -2.73 -6.69
Consolidated Net Income / (Loss)		 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25 -6.59 -8.65 -3.50 -2.73 -6.69
Net Income / (Loss) Continuing Operations		 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25 -6.59 -8.65 -3.50 -2.73 -6.69
Total Pre-Tax Income 		-7.26 -6.20 -8.93 -7.51 -5.45 -5.25 -6.59 -8.65 -3.50 -2.73 -6.69
Total Operating Income		 -5.95 -5.05 -7.55 -6.23 -4.24 -3.65 -5.15 -6.82 -2.60 -1.77 -5.57
Total Gross Profit		 12 14 13 14 15 16 17 18 21 21 18
Total Revenue		 16 18 18 19 21 21 23 24 27 27 22
Operating Revenue		 16 18 18 19 21 21 23 24 27 27 22
Total Cost of Revenue		 4.19 4.47 4.78 5.12 5.64 5.28 5.18 5.39 6.19 6.01 4.02
Operating Cost of Revenue		 4.19 4.47 4.78 5.12 5.64 5.28 5.18 5.39 6.19 6.01 4.02
Total Operating Expenses		 18 19 21 20 20 20 22 25 24 22 24
Selling, General & Admin Expense		 13 13 15 4.54 3.98 14 4.05 6.07 4.59 -6.62 4.84
Marketing Expense		 - - - 9.76 9.93 - 11 12 13 - 12
Research & Development Expense		 4.80 5.38 5.78 6.07 5.75 6.05 7.44 6.85 6.58 7.03 7.19
Total Other Income / (Expense), net		 -1.31 -1.15 -1.38 -1.28 -1.21 -1.60 -1.44 -1.83 -0.90 -0.96 -1.12
Interest Expense		 2.19 2.24 2.26 2.17 2.18 2.19 2.15 2.06 1.65 1.60 1.52
Interest & Investment Income		 0.77 0.82 0.83 0.76 0.75 0.68 0.79 0.72 0.67 0.64 0.57
Other Income / (Expense), net		 0.12 0.27 0.05 0.12 0.22 -0.09 -0.08 -0.49 0.08 - -0.17
Basic Earnings per Share		 ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16) ($0.21) ($0.26) ($0.11) ($0.08) ($0.20)
Weighted Average Basic Shares Outstanding		 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M 31.48M 32.86M 33.13M 32.72M 33.72M
Diluted Earnings per Share		 ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16) ($0.21) ($0.26) ($0.11) ($0.08) ($0.20)
Weighted Average Diluted Shares Outstanding		 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M 31.48M 32.86M 33.13M 32.72M 33.72M
Weighted Average Basic & Diluted Shares Outstanding		 26.28M 28.34M 28.77M 29.20M 29.85M 32.56M 32.80M 33.08M 33.31M 33.67M 34.09M
Cash Dividends to Common per Share		 - - - - - - $0.00 - - - $0.00

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 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 23 -7.45 -13 11 -4.63 8.26
Net Cash From Operating Activities		 -22 -25 -37 -20 -18 -11
Net Cash From Continuing Operating Activities		 -22 -25 -37 -20 -18 -11
Net Income / (Loss) Continuing Operations		 -24 -36 -47 -33 -27 -21
Consolidated Net Income / (Loss)		 -24 -36 -47 -33 -27 -21
Depreciation Expense		 0.31 0.30 0.27 0.17 0.21 0.24
Amortization Expense		 3.49 0.27 2.98 1.72 1.79 1.95
Non-Cash Adjustments To Reconcile Net Income		 1.08 11 12 12 13 10
Changes in Operating Assets and Liabilities, net		 -2.22 0.37 -4.79 -1.07 -5.45 -2.15
Net Cash From Investing Activities		 -11 -85 24 23 8.99 -0.33
Net Cash From Continuing Investing Activities		 -11 -85 24 23 8.99 -0.33
Purchase of Property, Plant & Equipment		 -0.06 -0.38 -0.60 -0.17 -0.31 -0.33
Sale and/or Maturity of Investments		 6.30 0.00 24 23 9.30 0.00
Net Cash From Financing Activities		 55 103 0.49 8.13 4.33 20
Net Cash From Continuing Financing Activities		 55 103 0.49 8.13 4.45 20
Repayment of Debt		 -43 -4.09 - - 0.00 -61
Repurchase of Common Equity		 -0.21 -3.39 -0.35 -0.31 0.00 -50
Issuance of Debt		 67 - - - 0.00 58
Issuance of Common Equity		 0.00 110 0.90 8.69 5.33 72
Other Financing Activities, net		 0.01 0.00 -0.06 -0.26 -0.88 -0.54
Cash Interest Paid		 4.41 6.34 4.46 4.48 6.23 6.20

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 1.86 8.34 -5.06 -0.15 2.57 -1.99 14 -4.16 -2.21 1.04 -6.18
Net Cash From Operating Activities		 -2.30 -3.34 -7.53 -3.90 -1.72 -4.80 -7.48 -2.09 -1.94 0.51 -5.90
Net Cash From Continuing Operating Activities		 -2.30 -3.34 -7.53 -3.90 -1.72 -4.80 -7.48 -2.09 -1.94 0.51 -5.90
Net Income / (Loss) Continuing Operations		 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25 -6.59 -8.65 -3.50 -2.73 -6.69
Consolidated Net Income / (Loss)		 -7.26 -6.20 -8.93 -7.51 -5.45 -5.25 -6.59 -8.65 -3.50 -2.73 -6.69
Depreciation Expense		 0.04 0.04 0.05 0.06 0.06 0.05 0.05 0.06 0.05 0.08 0.06
Amortization Expense		 0.44 0.45 0.46 0.44 0.44 0.45 0.46 0.48 0.50 0.51 0.52
Non-Cash Adjustments To Reconcile Net Income		 4.00 1.75 3.54 3.47 2.68 2.96 2.52 3.03 3.58 0.85 2.60
Changes in Operating Assets and Liabilities, net		 0.48 0.62 -2.65 -0.35 0.55 -3.00 -3.92 3.00 -2.58 1.80 -2.39
Net Cash From Investing Activities		 4.19 3.47 2.40 3.24 1.40 1.96 -0.04 -0.17 -0.03 -0.10 -0.12
Net Cash From Continuing Investing Activities		 4.19 3.47 2.40 3.24 1.40 1.96 -0.04 -0.17 -0.03 -0.10 -0.12
Purchase of Property, Plant & Equipment		 -0.01 -0.03 -0.10 -0.06 -0.10 -0.04 -0.04 -0.17 -0.03 -0.10 -0.12
Net Cash From Financing Activities		 -0.03 8.21 0.07 0.51 2.90 0.85 21 -1.91 -0.24 0.64 -0.17
Net Cash From Continuing Financing Activities		 -0.03 8.21 0.07 0.51 2.90 0.85 21 -1.91 -0.24 0.64 -0.17
Repurchase of Common Equity		 - -0.19 0.00 - - - -50 - - - 0.00
Issuance of Common Equity		 0.01 8.44 0.72 0.58 0.03 3.87 71 0.21 -0.05 0.72 0.01
Other Financing Activities, net		 -0.04 -0.04 -0.65 -0.07 2.86 -3.02 -0.23 -0.17 -0.05 -0.09 -0.18
Cash Interest Paid		 1.16 1.17 1.17 1.19 1.93 1.93 1.89 1.39 1.46 1.46 1.39

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 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 56 134 114 108 95 106
Total Current Assets		 55 133 98 93 81 94
Cash & Equivalents		 26 19 6.61 18 13 22
Short-Term Investments		 12 96 71 48 39 39
Accounts Receivable		 8.40 7.09 7.48 12 13 15
Inventories, net		 6.91 7.82 9.71 11 13 17
Prepaid Expenses		 1.18 2.32 3.11 2.74 2.35 1.44
Plant, Property, & Equipment, net		 0.52 0.60 1.06 1.00 1.05 1.13
Total Noncurrent Assets		 0.87 0.14 15 14 12 10
Other Noncurrent Operating Assets		 0.87 0.14 15 14 12 10
Total Liabilities & Shareholders' Equity		 56 134 114 108 95 106
Total Liabilities		 62 60 79 87 87 87
Total Current Liabilities		 9.60 9.30 11 16 15 18
Accounts Payable		 0.95 1.38 2.15 2.33 2.95 2.22
Accrued Expenses		 6.60 7.92 7.41 11 9.79 13
Current Deferred Revenue		 - - 0.00 1.09 0.56 0.14
Other Current Liabilities		 - 0.00 1.42 1.63 1.86 2.12
Total Noncurrent Liabilities		 53 51 68 71 71 69
Long-Term Debt		 51 50 53 57 60 59
Other Noncurrent Operating Liabilities		 0.64 0.00 15 14 12 9.84
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -148 74 35 21 8.01 19
Total Preferred & Common Equity		 -148 74 35 21 8.01 19
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -148 74 35 21 8.01 19
Common Stock		 240 498 507 524 539 571
Retained Earnings		 -388 -424 -471 -504 -531 -552

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 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 120 106 102 99 99 94 96 110 106 107 99
Total Current Assets		 104 90 87 84 84 80 83 97 94 95 87
Cash & Equivalents		 5.69 6.72 7.86 9.72 13 13 15 27 23 21 15
Short-Term Investments		 80 61 56 52 46 43 41 39 39 39 39
Accounts Receivable		 7.88 9.19 11 11 12 11 12 15 14 15 15
Inventories, net		 8.58 11 10 9.76 11 11 12 14 16 18 17
Prepaid Expenses		 2.50 2.60 2.05 1.59 2.26 2.08 2.12 2.20 1.70 2.24 1.52
Plant, Property, & Equipment, net		 0.89 1.02 0.98 0.95 1.05 1.00 1.04 1.16 1.16 1.11 1.28
Total Noncurrent Assets		 15 15 15 14 14 13 13 12 11 11 11
Other Noncurrent Operating Assets		 15 15 15 14 14 13 13 12 11 11 11
Total Liabilities & Shareholders' Equity		 120 106 102 99 99 94 96 110 106 107 99
Total Liabilities		 77 79 81 83 85 85 86 86 87 89 84
Total Current Liabilities		 9.42 9.88 12 13 13 13 15 15 17 20 16
Accounts Payable		 1.18 1.83 1.81 1.21 3.27 2.29 2.16 4.05 4.72 4.59 4.51
Accrued Expenses		 7.55 6.58 8.18 10 7.29 7.75 10 8.06 9.74 12 9.34
Current Deferred Revenue		 - - - - 0.87 0.81 0.75 0.68 0.70 0.65 0.13
Other Current Liabilities		 0.69 1.47 1.52 1.57 1.68 1.74 1.80 1.92 1.99 2.05 2.19
Total Noncurrent Liabilities		 68 69 69 70 71 72 72 71 70 69 68
Long-Term Debt		 52 54 55 56 58 59 59 60 59 59 59
Other Noncurrent Operating Liabilities		 16 15 15 14 13 13 12 11 11 10 9.26
Commitments & Contingencies		 0.00 0.00 0.00 0.00 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 24 19 19 14
Total Preferred & Common Equity		 43 27 21 16 14 9.89 9.82 24 19 19 14
Preferred Stock		 0.00 0.00 0.00 0.00 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 24 19 19 14
Common Stock		 504 509 512 514 527 530 536 562 566 568 574
Retained Earnings		 -460 -481 -490 -498 -513 -520 -526 -538 -546 -550 -559

Annual Metrics And Ratios for NeuroPace

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 24,314,002.00 - - - 33,307,734.00
DEI Adjusted Shares Outstanding		 0.00 24,314,002.00 - - - 33,307,734.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -1.48 - - - -0.64
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 9.83% 0.75% 43.72% 22.14% 25.13%
EBITDA Growth		 0.00% -216.26% -32.68% 32.43% 24.34% 24.42%
EBIT Growth		 0.00% -126.90% -41.26% 33.17% 22.27% 21.26%
NOPAT Growth		 0.00% -81.88% -71.86% 33.39% 20.25% 24.61%
Net Income Growth		 0.00% -48.61% -30.49% 30.00% 17.64% 20.91%
EPS Growth		 0.00% 98.16% 11.98% 33.51% 26.77% 29.03%
Operating Cash Flow Growth		 0.00% -13.74% -50.01% 46.56% 8.89% 38.68%
Free Cash Flow Firm Growth		 0.00% 0.00% -94.11% 35.97% 5.51% 28.13%
Invested Capital Growth		 0.00% -7.27% 32.38% 8.49% 32.54% 14.03%
Revenue Q/Q Growth		 0.00% 0.55% 4.10% 8.68% 4.52% 5.40%
EBITDA Q/Q Growth		 0.00% -17.83% -0.84% 16.03% 5.20% 12.32%
EBIT Q/Q Growth		 0.00% -27.28% -2.46% 15.96% 4.67% 10.49%
NOPAT Q/Q Growth		 0.00% -34.08% -2.11% 15.03% 6.06% 10.35%
Net Income Q/Q Growth		 0.00% -20.25% -0.97% 13.05% 3.38% 10.51%
EPS Q/Q Growth		 0.00% 96.08% -106.39% 14.77% 6.06% 10.81%
Operating Cash Flow Q/Q Growth		 0.00% -7.80% 0.97% 18.60% -8.83% 32.52%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -3.72% 14.76% -7.40% 23.88%
Invested Capital Q/Q Growth		 0.00% -2.44% 3.32% 2.29% 20.59% -2.29%
Profitability Metrics		 - - - - - -
Gross Margin		 73.59% 74.00% 71.38% 73.56% 73.94% 77.23%
EBITDA Margin		 -21.95% -63.20% -83.23% -39.13% -24.24% -14.64%
Operating Margin		 -31.72% -52.54% -89.62% -41.54% -27.12% -16.34%
EBIT Margin		 -31.20% -64.44% -90.36% -42.02% -26.74% -16.83%
Profit (Net Income) Margin		 -59.02% -79.85% -103.43% -50.38% -33.97% -21.47%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 189.18% 123.91% 114.47% 119.89% 127.02% 127.59%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -109.08% -205.88% -316.46% -177.48% -116.97% -72.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 -211.50% -129.48% -275.40% -95.51% 760.04% -508.69%
Return on Net Nonoperating Assets (RNNOA)		 487.83% 98.33% 229.50% 58.58% -72.38% -86.45%
Return on Equity (ROE)		 378.75% -107.55% -86.96% -118.91% -189.35% -158.74%
Cash Return on Invested Capital (CROIC)		 0.00% -198.34% -344.33% -185.63% -144.96% -85.40%
Operating Return on Assets (OROA)		 -22.94% -30.73% -33.21% -24.79% -21.12% -16.81%
Return on Assets (ROA)		 -43.39% -38.08% -38.02% -29.72% -26.83% -21.44%
Return on Common Equity (ROCE)		 8,735.05% 119.15% -86.96% -118.91% -189.35% -158.74%
Return on Equity Simple (ROE_SIMPLE)		 16.42% -49.09% -135.38% -159.56% -338.71% 0.00%
Net Operating Profit after Tax (NOPAT)		 -9.14 -17 -29 -19 -15 -11
NOPAT Margin		 -22.21% -36.77% -62.73% -29.08% -18.98% -11.44%
Net Nonoperating Expense Percent (NNEP)		 102.42% -76.40% -41.06% -81.98% -877.02% 436.40%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -24.51% -22.46% -14.68%
Cost of Revenue to Revenue		 26.41% 26.00% 28.62% 26.44% 26.06% 22.77%
SG&A Expenses to Revenue		 67.16% 86.23% 112.79% 83.33% 71.46% 19.09%
R&D to Revenue		 38.15% 40.31% 48.21% 31.76% 29.60% 27.89%
Operating Expenses to Revenue		 105.31% 126.53% 161.00% 115.09% 101.06% 93.57%
Earnings before Interest and Taxes (EBIT)		 -13 -29 -41 -27 -21 -17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -9.03 -29 -38 -26 -19 -15
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 3.33 1.07 13.12 41.68 27.02
Price to Tangible Book Value (P/TBV)		 0.00 3.33 1.07 13.12 41.68 27.02
Price to Revenue (P/Rev)		 2.48 5.42 0.82 4.14 4.18 5.14
Price to Earnings (P/E)		 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%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 30.83 23.09 1.23 23.44 23.05 30.38
Enterprise Value to Revenue (EV/Rev)		 6.28 3.97 0.28 4.00 4.26 5.12
Enterprise Value to EBITDA (EV/EBITDA)		 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
Enterprise Value to NOPAT (EV/NOPAT)		 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
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 -8.25 0.68 1.52 2.76 7.43 3.09
Long-Term Debt to Equity		 -7.93 0.68 1.52 2.76 7.43 3.09
Financial Leverage		 -2.31 -0.76 -0.83 -0.61 -0.10 0.17
Leverage Ratio		 -8.73 2.82 2.29 4.00 7.06 7.40
Compound Leverage Factor		 -16.51 3.50 2.62 4.80 8.96 9.45
Debt to Total Capital		 113.80% 40.41% 60.34% 73.39% 88.14% 75.57%
Short-Term Debt to Total Capital		 4.40% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 109.40% 40.41% 60.34% 73.39% 88.14% 75.57%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 304.43% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -318.23% 59.59% 39.66% 26.61% 11.86% 24.43%
Debt to EBITDA		 -5.85 -1.75 -1.40 -2.22 -3.07 -4.02
Net Debt to EBITDA		 -1.64 2.30 0.65 0.37 -0.35 0.15
Long-Term Debt to EBITDA		 -5.63 -1.75 -1.40 -2.22 -3.07 -4.02
Debt to NOPAT		 -5.79 -3.00 -1.85 -2.99 -3.92 -5.15
Net Debt to NOPAT		 -1.62 3.96 0.86 0.50 -0.45 0.19
Long-Term Debt to NOPAT		 -5.56 -3.00 -1.85 -2.99 -3.92 -5.15
Altman Z-Score		 -7.78 -1.26 -5.37 -4.07 -4.60 -2.47
Noncontrolling Interest Sharing Ratio		 -2,206.27% 210.79% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 5.69 14.28 8.90 5.71 5.37 5.28
Quick Ratio		 4.84 13.19 7.73 4.85 4.33 4.25
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -16 -31 -20 -19 -14
Operating Cash Flow to CapEx		 -34,853.23% -6,400.26% -6,114.26% -11,387.86% -5,865.69% -3,315.06%
Free Cash Flow to Firm to Interest Expense		 0.00 -2.16 -4.13 -2.34 -2.14 -1.81
Operating Cash Flow to Interest Expense		 -1.88 -3.32 -4.90 -2.31 -2.04 -1.48
Operating Cash Flow Less CapEx to Interest Expense		 -1.89 -3.37 -4.98 -2.33 -2.07 -1.52
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.74 0.48 0.37 0.59 0.79 1.00
Accounts Receivable Turnover		 4.90 5.84 6.25 6.61 6.35 7.26
Inventory Turnover		 1.57 1.60 1.49 1.65 1.69 1.50
Fixed Asset Turnover		 79.88 80.83 54.61 63.30 77.77 91.86
Accounts Payable Turnover		 11.45 10.10 7.39 7.72 7.88 8.81
Days Sales Outstanding (DSO)		 74.49 62.55 58.43 55.22 57.48 50.25
Days Inventory Outstanding (DIO)		 232.08 228.84 245.64 220.76 215.58 242.71
Days Payable Outstanding (DPO)		 31.88 36.15 49.38 47.25 46.33 41.45
Cash Conversion Cycle (CCC)		 274.69 255.24 254.68 228.74 226.72 251.51
Capital & Investment Metrics		 - - - - - -
Invested Capital		 8.38 7.77 10 11 15 17
Invested Capital Turnover		 4.91 5.60 5.04 6.10 6.16 6.32
Increase / (Decrease) in Invested Capital		 0.00 -0.61 2.52 0.87 3.63 2.07
Enterprise Value (EV)		 258 179 13 261 341 512
Market Capitalization		 102 245 37 271 334 514
Book Value per Share		 ($724.43) $3.02 $1.40 $0.79 $0.27 $0.57
Tangible Book Value per Share		 ($724.43) $3.02 $1.40 $0.79 $0.27 $0.57
Total Capital		 46 123 88 78 68 78
Total Debt		 53 50 53 57 60 59
Total Long-Term Debt		 51 50 53 57 60 59
Net Debt		 15 -66 -24 -9.50 6.77 -2.17
Capital Expenditures (CapEx)		 0.06 0.38 0.60 0.17 0.31 0.33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 8.93 7.93 9.33 10 13 15
Debt-free Net Working Capital (DFNWC)		 47 124 87 76 66 76
Net Working Capital (NWC)		 45 124 87 76 66 76
Net Nonoperating Expense (NNE)		 15 19 19 14 12 10
Net Nonoperating Obligations (NNO)		 15 -66 -24 -9.50 6.77 -2.17
Total Depreciation and Amortization (D&A)		 3.80 0.56 3.25 1.89 2.00 2.19
Debt-free, Cash-free Net Working Capital to Revenue		 21.71% 17.55% 20.49% 15.34% 16.80% 15.20%
Debt-free Net Working Capital to Revenue		 114.27% 273.37% 190.55% 116.92% 82.83% 76.27%
Net Working Capital to Revenue		 109.31% 273.37% 190.55% 116.92% 82.83% 76.27%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($2.17) ($1.91) ($1.27) ($0.93) ($0.66)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 16.61M 24.59M 25.85M 29.13M 32.72M
Adjusted Diluted Earnings per Share		 $0.00 ($2.17) ($1.91) ($1.27) ($0.93) ($0.66)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 16.61M 24.59M 25.85M 29.13M 32.72M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 24.47M 25.10M 28.34M 32.56M 33.67M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.14 -17 -29 -19 -15 -11
Normalized NOPAT Margin		 -22.21% -36.77% -62.73% -29.08% -18.98% -11.44%
Pre Tax Income Margin		 -59.02% -79.85% -103.43% -50.38% -33.97% -21.47%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -1.12 -3.93 -5.46 -3.23 -2.43 -2.26
NOPAT to Interest Expense		 -0.80 -2.24 -3.79 -2.23 -1.72 -1.53
EBIT Less CapEx to Interest Expense		 -1.12 -3.98 -5.54 -3.25 -2.46 -2.30
NOPAT Less CapEx to Interest Expense		 -0.80 -2.29 -3.87 -2.25 -1.76 -1.58
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -0.87% -9.40% -0.74% -0.93% 0.00% -230.82%

Quarterly Metrics And Ratios for NeuroPace

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 32,560,130.00 32,798,505.00 33,081,498.00 33,307,734.00 33,666,948.00
DEI Adjusted Shares Outstanding		 - - - - - - 32,560,130.00 32,798,505.00 33,081,498.00 33,307,734.00 33,666,948.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - -0.20 -0.26 -0.11 -0.08 -0.20
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 47.23% 40.84% 25.23% 16.63% 28.20% 19.18% 24.28% 22.14% 29.89% 23.86% -2.02%
EBITDA Growth		 43.54% 53.18% 19.41% 22.70% 34.25% 24.69% 32.53% -20.78% 44.38% 63.51% -9.20%
EBIT Growth		 43.36% 52.16% 17.97% 20.98% 31.04% 21.88% 30.22% -19.64% 37.43% 52.74% -9.64%
NOPAT Growth		 41.66% 48.77% 9.30% 20.68% 28.69% 27.68% 31.78% -9.53% 38.72% 51.63% -8.18%
Net Income Growth		 38.42% 44.37% 13.98% 17.65% 24.87% 15.32% 26.17% -15.13% 35.88% 48.02% -1.52%
EPS Growth		 41.67% 50.00% 21.95% 27.78% 32.14% 27.27% 34.38% 0.00% 42.11% 50.00% 4.76%
Operating Cash Flow Growth		 67.00% 57.40% 22.38% 10.55% 25.11% -43.58% 0.61% 46.51% -12.76% 110.55% 21.14%
Free Cash Flow Firm Growth		 43.94% 53.18% 49.13% 19.73% 15.49% -40.32% -59.82% -40.45% -57.52% 46.48% 29.72%
Invested Capital Growth		 9.58% 8.49% -2.18% 6.84% 12.43% 32.54% 32.45% 19.07% 40.73% 14.03% 9.55%
Revenue Q/Q Growth		 -0.50% 9.65% 0.62% 6.25% 9.37% 1.93% 4.93% 4.42% 16.30% -2.80% -17.00%
EBITDA Q/Q Growth		 26.13% 19.80% -62.59% 19.75% 37.17% 8.14% -45.66% -43.66% 71.07% 39.72% -335.87%
EBIT Q/Q Growth		 24.53% 17.98% -56.58% 18.47% 34.14% 7.08% -39.85% -39.80% 65.55% 29.83% -224.45%
NOPAT Q/Q Growth		 24.24% 15.11% -49.38% 17.43% 31.89% 13.91% -40.90% -32.58% 61.90% 32.04% -215.11%
Net Income Q/Q Growth		 20.46% 14.57% -43.95% 15.81% 27.44% 3.71% -25.50% -31.29% 59.59% 21.94% -145.11%
EPS Q/Q Growth		 22.22% 21.43% -45.45% 18.75% 26.92% 15.79% -31.25% -23.81% 57.69% 27.27% -150.00%
Operating Cash Flow Q/Q Growth		 47.20% -45.13% -125.32% 48.19% 55.79% -178.25% -55.97% 72.12% 6.81% 126.03% -1,266.01%
Free Cash Flow Firm Q/Q Growth		 21.23% 13.86% -13.02% -4.69% 17.08% -43.03% -28.72% 8.00% 7.00% 51.40% -69.04%
Invested Capital Q/Q Growth		 -12.83% 2.29% 20.45% -0.53% -8.27% 20.59% 20.37% -10.58% 8.41% -2.29% 15.64%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 74.47% 75.20% 73.62% 73.40% 73.22% 75.41% 76.99% 77.09% 77.39% 77.40% 81.78%
EBITDA Margin		 -32.65% -23.88% -38.58% -29.14% -16.74% -15.09% -20.95% -28.82% -7.17% -4.45% -23.35%
Operating Margin		 -36.22% -28.04% -41.63% -32.35% -20.15% -17.02% -22.85% -29.01% -9.51% -6.65% -25.23%
EBIT Margin		 -35.52% -26.57% -41.35% -31.73% -19.11% -17.42% -23.22% -31.08% -9.21% -6.65% -25.98%
Profit (Net Income) Margin		 -44.18% -34.42% -49.24% -39.02% -25.89% -24.46% -29.25% -36.78% -12.78% -10.26% -30.31%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 124.37% 129.54% 119.10% 122.98% 135.49% 140.41% 126.01% 118.34% 138.84% 154.44% 116.68%
Effective Tax Rate		 0.00% 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)		 -146.37% -119.82% -148.17% -125.73% -93.10% -73.40% -86.36% -122.88% -42.78% -29.40% -94.28%
ROIC Less NNEP Spread (ROIC-NNEP)		 -130.48% -104.15% -98.47% -5.34% 71.10% 123.88% -5.44% 16,721.47% -329.27% -94.33% 295.03%
Return on Net Nonoperating Assets (RNNOA)		 84.96% 63.87% 34.52% 0.90% -8.21% -11.80% 1.04% -26.23% -13.59% -16.03% -10.93%
Return on Equity (ROE)		 -61.42% -55.95% -113.66% -124.83% -101.31% -85.20% -85.32% -149.11% -56.37% -45.43% -105.21%
Cash Return on Invested Capital (CROIC)		 -223.84% -185.63% -133.84% -140.67% -151.13% -144.96% -114.32% -112.42% -120.29% -85.40% -72.03%
Operating Return on Assets (OROA)		 -19.46% -15.68% -27.85% -23.18% -14.94% -13.76% -18.72% -27.46% -8.58% -6.64% -24.73%
Return on Assets (ROA)		 -24.20% -20.31% -33.16% -28.51% -20.24% -19.32% -23.59% -32.50% -11.91% -10.25% -28.86%
Return on Common Equity (ROCE)		 -61.42% -55.95% -113.66% -124.83% -101.31% -85.20% -85.32% -149.11% -56.37% -45.43% -105.21%
Return on Equity Simple (ROE_SIMPLE)		 -231.63% 0.00% -219.69% -302.44% -285.97% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.17 -3.54 -5.28 -4.36 -2.97 -2.56 -3.60 -4.78 -1.82 -1.24 -3.90
NOPAT Margin		 -25.35% -19.63% -29.14% -22.65% -14.10% -11.91% -16.00% -20.31% -6.65% -4.65% -17.66%
Net Nonoperating Expense Percent (NNEP)		 -15.89% -15.67% -49.70% -120.39% -164.20% -197.28% -80.92% -16,844.35% 286.50% 64.93% -389.32%
Return On Investment Capital (ROIC_SIMPLE)		 - -4.56% - - - -3.79% -4.29% -6.12% -2.36% -1.59% -5.30%
Cost of Revenue to Revenue		 25.53% 24.80% 26.38% 26.60% 26.78% 24.59% 23.01% 22.91% 22.61% 22.60% 18.22%
SG&A Expenses to Revenue		 81.50% 73.39% 83.34% 74.26% 66.04% 64.25% 17.96% 25.80% 16.79% -24.90% 21.95%
R&D to Revenue		 29.19% 29.85% 31.91% 31.50% 27.32% 28.18% 33.03% 29.10% 24.04% 26.43% 32.58%
Operating Expenses to Revenue		 110.69% 103.24% 115.25% 105.75% 93.37% 92.43% 99.84% 106.11% 86.89% 84.04% 107.01%
Earnings before Interest and Taxes (EBIT)		 -5.84 -4.79 -7.49 -6.11 -4.02 -3.74 -5.23 -7.31 -2.52 -1.77 -5.73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -5.36 -4.30 -6.99 -5.61 -3.53 -3.24 -4.72 -6.78 -1.96 -1.18 -5.15
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 15.38 13.12 26.09 22.00 20.72 41.68 16.49 18.80 18.42 27.02 30.63
Price to Tangible Book Value (P/TBV)		 15.38 13.12 26.09 22.00 20.72 41.68 16.49 18.80 18.42 27.02 30.63
Price to Revenue (P/Rev)		 4.18 4.14 5.42 3.03 2.66 4.18 4.75 4.13 3.60 5.14 4.45
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 0.00
Dividend Yield		 0.00% 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% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 22.57 23.44 27.78 16.53 16.80 23.05 22.12 22.74 19.70 30.38 22.97
Enterprise Value to Revenue (EV/Rev)		 4.09 4.00 5.40 3.08 2.69 4.26 4.67 4.09 3.58 5.12 4.50
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 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 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 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 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 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.42 2.76 4.05 5.97 6.03 7.43 2.46 3.02 3.17 3.09 4.08
Long-Term Debt to Equity		 3.42 2.76 4.05 5.97 6.03 7.43 2.46 3.02 3.17 3.09 4.08
Financial Leverage		 -0.65 -0.61 -0.35 -0.17 -0.12 -0.10 -0.19 0.00 0.04 0.17 -0.04
Leverage Ratio		 3.68 4.00 4.90 6.32 7.47 7.06 5.41 6.84 7.18 7.40 5.40
Compound Leverage Factor		 4.57 5.18 5.84 7.77 10.12 9.91 6.82 8.09 9.97 11.43 6.30
Debt to Total Capital		 77.35% 73.39% 80.19% 85.65% 85.78% 88.14% 71.13% 75.10% 76.03% 75.57% 80.33%
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% 0.00%
Long-Term Debt to Total Capital		 77.35% 73.39% 80.19% 85.65% 85.78% 88.14% 71.13% 75.10% 76.03% 75.57% 80.33%
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% 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% 0.00%
Common Equity to Total Capital		 22.65% 26.61% 19.81% 14.35% 14.22% 11.86% 28.87% 24.90% 23.97% 24.43% 19.67%
Debt to EBITDA		 -1.83 -2.22 -2.43 -2.65 -2.90 -3.07 -3.50 -3.21 -3.52 -4.02 -3.92
Net Debt to EBITDA		 0.18 0.37 0.04 -0.16 -0.12 -0.35 0.38 0.19 0.08 0.15 -0.33
Long-Term Debt to EBITDA		 -1.83 -2.22 -2.43 -2.65 -2.90 -3.07 -3.50 -3.21 -3.52 -4.02 -3.92
Debt to NOPAT		 -2.50 -2.99 -3.14 -3.40 -3.67 -3.92 -4.43 -4.21 -4.61 -5.15 -5.03
Net Debt to NOPAT		 0.24 0.50 0.05 -0.20 -0.15 -0.45 0.48 0.25 0.10 0.19 -0.43
Long-Term Debt to NOPAT		 -2.50 -2.99 -3.14 -3.40 -3.67 -3.92 -4.43 -4.21 -4.61 -5.15 -5.03
Altman Z-Score		 -3.92 -3.37 -3.29 -4.77 -4.73 -3.99 -2.53 -3.20 -3.21 -2.00 -3.09
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.55 5.71 6.43 6.37 5.59 5.37 6.63 5.47 4.86 5.28 5.38
Quick Ratio		 5.67 4.85 5.38 5.31 4.63 4.33 5.56 4.42 3.82 4.25 4.25
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -5.12 -4.41 -4.98 -5.22 -4.33 -6.19 -7.96 -7.33 -6.81 -3.31 -5.60
Operating Cash Flow to CapEx		 -25,577.78% -10,440.63% -7,238.46% -6,190.48% -1,724.00% -12,300.00% -20,221.62% -1,241.67% -6,480.00% 521.65% -5,042.74%
Free Cash Flow to Firm to Interest Expense		 -2.34 -1.97 -2.21 -2.41 -1.98 -2.82 -3.70 -3.56 -4.14 -2.07 -3.68
Operating Cash Flow to Interest Expense		 -1.05 -1.49 -3.33 -1.80 -0.79 -2.19 -3.48 -1.01 -1.18 0.32 -3.88
Operating Cash Flow Less CapEx to Interest Expense		 -1.05 -1.51 -3.38 -1.83 -0.84 -2.21 -3.49 -1.09 -1.20 0.26 -3.96
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.55 0.59 0.67 0.73 0.78 0.79 0.81 0.88 0.93 1.00 0.95
Accounts Receivable Turnover		 6.29 6.61 6.63 6.49 6.69 6.35 6.23 7.14 7.16 7.26 6.59
Inventory Turnover		 1.83 1.65 1.62 1.74 1.83 1.69 1.70 1.55 1.46 1.50 1.43
Fixed Asset Turnover		 65.33 63.30 66.67 72.76 76.84 77.77 76.36 82.24 88.29 91.86 81.48
Accounts Payable Turnover		 14.12 7.72 7.06 9.06 11.89 7.88 5.80 6.13 6.53 8.81 5.05
Days Sales Outstanding (DSO)		 58.07 55.22 55.02 56.20 54.52 57.48 58.59 51.09 50.98 50.25 55.42
Days Inventory Outstanding (DIO)		 199.02 220.76 224.99 210.15 199.22 215.58 214.95 235.34 250.29 242.71 255.74
Days Payable Outstanding (DPO)		 25.85 47.25 51.74 40.28 30.71 46.33 62.90 59.55 55.91 41.45 72.29
Cash Conversion Cycle (CCC)		 231.24 228.74 228.28 226.08 223.03 226.72 210.65 226.88 245.36 251.51 238.86
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 11 11 13 13 12 15 18 16 17 17 19
Invested Capital Turnover		 5.77 6.10 5.08 5.55 6.60 6.16 5.40 6.05 6.43 6.32 5.34
Increase / (Decrease) in Invested Capital		 0.95 0.87 -0.30 0.86 1.36 3.63 4.36 2.55 4.99 2.07 1.70
Enterprise Value (EV)		 246 261 373 221 206 341 394 362 340 512 448
Market Capitalization		 252 271 374 217 204 334 400 365 341 514 443
Book Value per Share		 $0.63 $0.79 $0.51 $0.34 $0.34 $0.27 $0.75 $0.59 $0.56 $0.57 $0.43
Tangible Book Value per Share		 $0.63 $0.79 $0.51 $0.34 $0.34 $0.27 $0.75 $0.59 $0.56 $0.57 $0.43
Total Capital		 72 78 72 69 69 68 84 78 77 78 73
Total Debt		 56 57 58 59 59 60 60 59 59 59 59
Total Long-Term Debt		 56 57 58 59 59 60 60 59 59 59 59
Net Debt		 -5.46 -9.50 -0.91 3.48 2.44 6.77 -6.47 -3.53 -1.27 -2.17 5.04
Capital Expenditures (CapEx)		 0.01 0.03 0.10 0.06 0.10 0.04 0.04 0.17 0.03 0.10 0.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 9.81 10 12 12 11 13 17 14 16 15 17
Debt-free Net Working Capital (DFNWC)		 71 76 71 68 68 66 83 77 76 76 71
Net Working Capital (NWC)		 71 76 71 68 68 66 83 77 76 76 71
Net Nonoperating Expense (NNE)		 3.09 2.66 3.64 3.15 2.48 2.69 2.99 3.87 1.68 1.49 2.79
Net Nonoperating Obligations (NNO)		 -5.46 -9.50 -0.91 3.48 2.44 6.77 -6.47 -3.53 -1.27 -2.17 5.04
Total Depreciation and Amortization (D&A)		 0.47 0.49 0.50 0.50 0.50 0.50 0.51 0.53 0.56 0.59 0.58
Debt-free, Cash-free Net Working Capital to Revenue		 16.30% 15.34% 17.66% 16.85% 14.36% 16.80% 19.58% 16.32% 16.56% 15.20% 16.91%
Debt-free Net Working Capital to Revenue		 118.21% 116.92% 103.00% 94.18% 88.70% 82.83% 98.18% 86.48% 79.82% 76.27% 71.14%
Net Working Capital to Revenue		 118.21% 116.92% 103.00% 94.18% 88.70% 82.83% 98.18% 86.48% 79.82% 76.27% 71.14%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16) ($0.21) ($0.26) ($0.11) ($0.08) ($0.20)
Adjusted Weighted Average Basic Shares Outstanding		 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M 31.48M 32.86M 33.13M 32.72M 33.72M
Adjusted Diluted Earnings per Share		 ($0.28) ($0.22) ($0.32) ($0.26) ($0.19) ($0.16) ($0.21) ($0.26) ($0.11) ($0.08) ($0.20)
Adjusted Weighted Average Diluted Shares Outstanding		 26.02M 25.85M 28.29M 28.85M 29.44M 29.13M 31.48M 32.86M 33.13M 32.72M 33.72M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 26.28M 28.34M 28.77M 29.20M 29.85M 32.56M 32.80M 33.08M 33.31M 33.67M 34.09M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.17 -3.54 -5.28 -4.36 -2.97 -2.56 -3.60 -4.78 -1.82 -1.24 -3.90
Normalized NOPAT Margin		 -25.35% -19.63% -29.14% -22.65% -14.10% -11.91% -16.00% -20.31% -6.65% -4.65% -17.66%
Pre Tax Income Margin		 -44.18% -34.42% -49.24% -39.02% -25.89% -24.46% -29.25% -36.78% -12.78% -10.26% -30.31%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -2.66 -2.14 -3.32 -2.82 -1.84 -1.71 -2.43 -3.55 -1.53 -1.10 -3.77
NOPAT to Interest Expense		 -1.90 -1.58 -2.34 -2.01 -1.36 -1.17 -1.67 -2.32 -1.11 -0.77 -2.56
EBIT Less CapEx to Interest Expense		 -2.67 -2.15 -3.36 -2.85 -1.89 -1.72 -2.45 -3.63 -1.55 -1.17 -3.85
NOPAT Less CapEx to Interest Expense		 -1.91 -1.60 -2.39 -2.04 -1.41 -1.18 -1.69 -2.40 -1.12 -0.83 -2.64
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% 0.00%
Augmented Payout Ratio		 -1.23% -0.93% -0.62% -0.62% -0.66% 0.00% -199.74% -190.99% -206.56% -230.82% 0.00%

Financials Breakdown Chart

Key Financial Trends

NeuroPace (NASDAQ: NPCE) showed a mixed but improving operating trend in the most recent quarter, though the company remains unprofitable and still burns cash. Revenue grew year over year in Q1 2026, but operating losses were still sizable and free cash flow stayed negative. The balance sheet remains supported by a meaningful cash and short-term investment position, which gives NeuroPace some flexibility, but that cushion has been declining.

  • Q1 2026 revenue increased to $22.1 million, up from $18.1 million in Q1 2025, showing continued top-line growth.
  • Gross profit improved to $18.0 million in Q1 2026, with gross margin staying strong at roughly 82%.
  • The company still held a sizable liquidity buffer in Q1 2026, including $14.8 million in cash and $39.2 million in short-term investments.
  • Total current assets of $87.0 million remained well above current liabilities of $16.2 million, indicating solid near-term asset coverage.
  • Operating cash use improved versus prior quarters, with Q1 2026 operating cash flow at negative $5.9 million, better than the much larger cash outflows seen in some earlier periods.
  • Q1 2026 marketing, R&D, and SG&A spending remained elevated, suggesting the company is still investing heavily in commercialization and product development.
  • Long-term debt was essentially stable around $59 million across the last several quarters, so leverage has not materially worsened, but it also remains a meaningful obligation.
  • Share count has drifted upward over time, which can dilute per-share results and partly offsets revenue growth for existing investors.
  • NeuroPace posted a Q1 2026 net loss of $6.7 million, and has remained unprofitable across the full four-year trend shown.
  • Operating income was still negative at $5.6 million in Q1 2026, showing the business has not yet reached operating profitability.
  • Cash and equivalents fell from $27.0 million in Q1 2025 to $14.8 million in Q1 2026, indicating ongoing pressure on liquidity.
  • Retained earnings remained deeply negative at -$559.1 million, reflecting accumulated historical losses.
  • Cash interest paid was still high at $1.4 million in Q1 2026, which adds to the company’s cash burden while it remains unprofitable.

Looking at the broader trend, NeuroPace has made progress on revenue growth, moving from about $14.5 million in Q1 2023 to $22.1 million in Q1 2026. However, expenses have also remained high, so losses continue despite better sales. The company appears to be in a growth-and-investment phase rather than a mature profit phase.

From a balance sheet perspective, the main positives are the still-substantial cash, investments, and working capital. The main concern is that losses and cash burn continue to reduce that cushion over time. For retail investors, the key question is whether NeuroPace can keep growing revenue fast enough to eventually narrow losses and improve cash generation before liquidity becomes a bigger concern.

07/21/26 11:40 AM ETAI Generated. May Contain Errors.

NeuroPace Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NeuroPace's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

NeuroPace's net income appears to be on a downward trend, with a most recent value of -$21.47 million in 2025, falling from -$24.28 million in 2020. The previous period was -$27.14 million in 2024. Check out NeuroPace's forecast to explore projected trends and price targets.

NeuroPace's total operating income in 2025 was -$16.34 million, based on the following breakdown:
  • Total Gross Profit: $77.22 million
  • Total Operating Expenses: $93.56 million

Over the last 5 years, NeuroPace's total revenue changed from $41.14 million in 2020 to $99.99 million in 2025, a change of 143.1%.

NeuroPace's total liabilities were at $86.53 million at the end of 2025, a 0.1% decrease from 2024, and a 38.8% increase since 2020.

In the past 5 years, NeuroPace's cash and equivalents has ranged from $6.61 million in 2022 to $26.39 million in 2020, and is currently $21.69 million as of their latest financial filing in 2025.

Over the last 5 years, NeuroPace's book value per share changed from -724.43 in 2020 to 0.57 in 2025, a change of -100.1%.


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Financial statements for NASDAQ:NPCE last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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