Core Insights - electroCore, Inc. is participating in the Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum on November 20, 2025, in New York [1] - The company will host one-on-one meetings throughout the day for investors [1][2] Company Overview - electroCore, Inc. is a bioelectronic technology company focused on improving health and quality of life through non-invasive bioelectronic technologies [3] - The company's leading products include gammaCore, a non-invasive vagus nerve stimulation device for chronic pain, and Quell Fibromyalgia [3] - Additionally, electroCore offers handheld products like Truvaga and TAC-STIM, which utilize bioelectronic technologies for general wellness and human performance [3]

Core Points - Ecora Resources PLC announced share acquisitions by its CEO Marc Bishop Lafleche and CFO Kevin Flynn, indicating confidence in the company's future performance [1][2][4]. Summary by Sections Share Acquisitions - On November 4, 2025, CEO Marc Bishop Lafleche acquired 32,000 ordinary shares at an average price of £0.931 per share [2][4]. - On November 5, 2025, CFO Kevin Flynn acquired 21,175 shares at an average price of £0.954 per share [2][5]. Regulatory Compliance - The transactions were reported in accordance with Article 19 of the UK Market Abuse Regulation, ensuring transparency in director dealings [3][4]. Company Information - Ecora Resources PLC is listed on the London Stock Exchange and the Toronto Stock Exchange, with the identification code GB0006449366 for its ordinary shares [4][5].

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分组1 - electroCore, Inc. reported a quarterly loss of $0.4 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.36, and compared to a loss of $0.31 per share a year ago, indicating an earnings surprise of -11.11% [1] - The company posted revenues of $8.69 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 10.69%, and showing an increase from $6.55 million in the same quarter last year [2] - electroCore shares have declined approximately 69.5% since the beginning of the year, contrasting with the S&P 500's gain of 15.1% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$0.26 on revenues of $8.89 million, and for the current fiscal year, it is -$1.59 on revenues of $30.84 million [7] - The Zacks Industry Rank for Medical - Drugs is currently in the top 40% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8]

Financial Data and Key Metrics Changes - In Q3 2025, revenue reached a record $8.7 million, up 33% year over year and 18% sequentially [17] - Gross margins improved to 86%, up from 84% in the previous year [17] - GAAP net loss was $3.4 million, or a loss of $0.40 per share, compared to a net loss of $2.5 million, or a loss of $0.31 per share in Q3 2024 [28] - Cash balance as of September 30, 2025, was approximately $13.2 million, compared to $12.2 million at the end of 2024 [29] Business Line Data and Key Metrics Changes - Prescription device revenue grew 19% year over year to $6.8 million, driven by gammaCore and Quell sales in the VA hospital system [17] - Health and wellness product revenue reached $1.9 million, a 54% increase sequentially and 121% year on year [18] - Truvaga revenue grew 18% sequentially and 79% year on year, excluding a one-time $500,000 order for a clinical trial [19] Market Data and Key Metrics Changes - As of September 30, 2025, 195 VA hospital facilities purchased prescription gammaCore products, up from 166 a year ago [17] - The VA hospital system remains the largest customer, with significant growth opportunities identified in the fibromyalgia patient segment [18] Company Strategy and Development Direction - The company is focusing on three strategic pivots: the Neurometrics acquisition, strengthening the VA channel, and developing the wellness division [9][10][11] - The acquisition of Neurometrics has exceeded revenue expectations and is integrated into the VA hospital channel [23] - The company aims to broaden its product range and diversify revenue streams to enhance long-term shareholder value [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in prioritizing growth over immediate profitability, with a revised timeline for achieving positive adjusted EBITDA in the second half of 2026 [22] - The company is navigating external macroeconomic challenges while maintaining a focus on expanding its market presence [11][12] Other Important Information - The company is facing a patent infringement dispute with a European company, which is currently in litigation [51] - A royalty-based arrangement has been established for commercialization in China, with no capital investment required from the company [13][43] Q&A Session Summary Question: Can you remind us what channels Neurometrics was selling into before the acquisition? - The prescription Quell for fibromyalgia was sold in four or five VA hospitals off contract through open market access prior to the acquisition [36] Question: Can you give us any further color on the $500,000 Truvaga sale for a clinical trial? - It's one clinical trial being run in long COVID subjects, and details are limited as it is investigator-initiated [36] Question: Talk about the next-gen mobile app that you're working on. - The next update of the app will be Truvaga Plus only and will not be set up to work with gammaCore or Quell [37] Question: What is being done to combat the copycat marketing vagus nerve stimulation devices? - The company is in litigation with a European company for patent infringement and is focusing on winning the case [51] Question: How meaningful is the market opportunity in China? - The Chinese investor plans to commercialize the technology in China as a prescription medical device, with royalties paid to the company [43]

Financial Performance - Net sales for Q3 2025 reached $8.689 million, a 32.5% increase from $6.554 million in Q3 2024[16] - Gross profit for Q3 2025 was $7.470 million, compared to $5.489 million in Q3 2024, reflecting a 36.1% increase[16] - Total operating expenses for Q3 2025 were $10.354 million, up from $8.140 million in Q3 2024, representing a 27.2% increase[16] - The net loss for Q3 2025 was $3.405 million, compared to a net loss of $2.497 million in Q3 2024, indicating a 36.3% increase in losses[16] - For the nine months ended September 30, 2025, the net loss was $10.931 million, compared to a net loss of $8.658 million for the same period in 2024, representing an increase of approximately 26.2%[25] - Total net sales for the three months ended September 30, 2025 were $8.7 million, a 32.4% increase from $6.6 million in the same period of 2024[48] - For the nine months ended September 30, 2025, total net sales reached $22.8 million, up 25.9% from $18.1 million in 2024[48] Expenses and Liabilities - Total operating expenses for Q3 2025 were $10.354 million, up from $8.140 million in Q3 2024, representing a 27.2% increase[16] - Research and development expenses for Q3 2025 were $662 thousand, up from $521 thousand in Q3 2024, a 27% increase[16] - Selling, general and administrative expenses for Q3 2025 were $9.692 million, compared to $7.619 million in Q3 2024, a 27.3% increase[16] - Accrued expenses and other current liabilities increased to $8,607,000 as of September 30, 2025, compared to $6,964,000 as of December 31, 2024[59] - Current liabilities increased to $12.141 million as of September 30, 2025, from $9.152 million at December 31, 2024[13] Cash and Assets - Cash and cash equivalents increased to $7.857 million as of September 30, 2025, from $3.450 million at December 31, 2024[13] - Total assets grew to $21.412 million as of September 30, 2025, compared to $20.471 million at December 31, 2024[13] - As of September 30, 2025, cash, cash equivalents, and restricted cash totaled $8.107 million, up from $3.700 million at December 31, 2024, reflecting a significant increase of approximately 118.5%[31] - As of September 30, 2025, the Company's cash position totaled $13.2 million, an increase from $12.2 million as of December 31, 2024[38][49] Stock and Equity - The company’s total stockholders' equity (deficit) as of September 30, 2025, was $(1.073) million, compared to $(188.021) million as of March 31, 2025, showing a significant improvement[22] - Stock-based compensation for the nine months ended September 30, 2025, was $1.460 million, slightly higher than $1.356 million in 2024, indicating a year-over-year increase of about 7.7%[25] - The company reported a basic net loss per share for the nine months ended September 30, 2025, with 2,899 total common stock equivalents considered in the diluted loss per share calculation[82] Market Operations - The company has paused operations in Germany, with sales in Europe managed by electroCore UK Ltd, indicating a strategic shift in market operations[27] - Sales to the United States Department of Veterans Affairs accounted for 69.9% of net sales for the three months ended September 30, 2025, compared to 72.9% in 2024[44] Financing and Agreements - The Loan and Security Agreement with Avenue provides for term loans of up to $12.0 million, with $7.5 million already advanced[41] - The Company secured a Loan and Security Agreement with Avenue for term loans totaling up to $12 million, with an initial tranche of $7.5 million[64] - The principal balance of the Term Loans bears interest at a variable rate, with a minimum of 12.5%[66] - The Company entered into a Sales Agreement allowing for the sale of up to $20 million in common stock, with $217,000 raised from the sale of 14,265 shares during the nine months ended September 30, 2025[78] Acquisitions and Investments - The company completed the acquisition of NURO on May 1, 2025, with contingent value rights potentially entitling holders to cash payments based on future sales[90] - Approximately $221,000 was distributed to former holders of NURO common stock under the CVR Agreement in October 2025[95] - The company incurred $120,000 in expenses for educational grants to the Vagus Nerve Society during the nine months ended September 30, 2025[99] Segment Information - The company operates as a single segment focused on Bioelectronic Innovations, with performance evaluated based on loss from operations[100] - Bioelectronic Innovations segment net sales for Q3 2025 reached $8.689 billion, a 32.5% increase from $6.554 billion in Q3 2024[102] - Gross profit for the segment in Q3 2025 was $7.470 billion, up 36.1% from $5.489 billion in Q3 2024[102] - Total operating expenses for the segment increased to $10.354 billion in Q3 2025, compared to $8.140 billion in Q3 2024, reflecting a 27.2% rise[102] - The loss from operations for Q3 2025 was $2.884 billion, compared to a loss of $2.651 billion in Q3 2024[102] Foreign Currency Exposure - The company is exposed to foreign currency fluctuations, particularly with sales in British Pound Sterling and Japanese Yen, which may impact competitiveness[171] - The company does not hedge its foreign currency exchange rate risk, which could affect financial results[173]

Financial Performance - Net sales for Q3 2025 reached $8.7 million, a 33% increase compared to $6.6 million in Q3 2024[4] - Year-to-date net sales totaled $22.8 million, reflecting a 26% increase from the first nine months of 2024[4] - Prescription device sales amounted to $6.8 million in Q3 2025, up 19% from $5.7 million in Q3 2024[5] - Health and wellness product sales surged by 121% to $1.9 million in Q3 2025, compared to $0.9 million in Q3 2024[5] - Gross profit for Q3 2025 was $7.5 million, representing an 86% gross margin, compared to $5.5 million and 84% gross margin in Q3 2024[5] - The company raised its full-year 2025 revenue guidance to between $31.5 million and $32.5 million[3] Expenses - Research and development expenses increased to $0.7 million in Q3 2025 from $0.5 million in Q3 2024, primarily due to costs for a new mobile application[6] - Selling, general and administrative expenses rose to $9.7 million in Q3 2025, up from $7.6 million in Q3 2024, driven by increased marketing investments[7] - Stock-based compensation for Q3 2025 was $415,000, a marginal increase from $400,000 in Q3 2024[28] - Acquisition-related expenses for Q3 2025 amounted to $501,000, with total expenses for the nine months reaching $828,000[28] - Depreciation and amortization expenses for Q3 2025 were $118,000, down from $185,000 in Q3 2024[28] - Non-recurring one-time charges for Q3 2025 totaled $280,000, with a total of $330,000 for the nine months[28] Net Loss - The net loss for Q3 2025 was $3.4 million, or $0.40 per share, compared to a net loss of $2.5 million, or $0.31 per share, in Q3 2024[10] - GAAP net loss for Q3 2025 was $3,405,000 compared to a loss of $2,497,000 in Q3 2024, representing an increase in loss of approximately 36.3%[28] - Adjusted EBITDA net loss for Q3 2025 was $2,043,000, slightly improved from a loss of $2,066,000 in Q3 2024[28] - For the nine months ended September 30, 2025, GAAP net loss was $10,931,000, compared to $8,658,000 for the same period in 2024, indicating a 26.2% increase in loss[28] Cash Position - Total cash as of September 30, 2025, was $13.2 million, an increase from $12.2 million at the end of 2024[14] Other Financial Metrics - Interest and other income for Q3 2025 was $146,000, compared to an expense of $154,000 in Q3 2024[28] - The company recorded a reserve for bad debt charge of $548,000 for the nine months ended September 30, 2025, which was not present in the previous year[28] - The company emphasizes the limitations of non-GAAP measures and recommends considering them alongside GAAP-based financial performance metrics[29]

Core Insights - electroCore, Inc. reported net sales of $8.7 million for Q3 2025, a 33% increase compared to Q3 2024, and year-to-date net sales of $22.8 million, reflecting a 26% increase compared to the first nine months of 2024 [1][3][8] - The company has increased its revenue guidance for the full year 2025 to a range of $31.5 million to $32.5 million, driven by strong sales growth in the VA market for its prescription products [2][14] Financial Performance - For Q3 2025, net sales were $8.7 million, up from $6.6 million in Q3 2024, with a gross profit of $7.5 million, representing an 86% gross margin compared to 84% in the previous year [3][4][10] - Prescription device sales increased by 19% year-over-year, while health and wellness products saw a significant growth of 121% in the same period [4][8] - Total operating expenses for Q3 2025 were approximately $10.4 million, up from $8.1 million in Q3 2024, with selling, general, and administrative expenses rising to $9.7 million [6][7] Cash Position - As of September 30, 2025, total cash, including cash equivalents and marketable securities, was $13.2 million, an increase from $12.2 million at the end of 2024 [1][13][22] Loss and Adjusted EBITDA - The net loss for Q3 2025 was $3.4 million, or $0.40 per share, compared to a net loss of $2.5 million, or $0.31 per share, in Q3 2024 [10][20] - Adjusted EBITDA net loss for Q3 2025 was $2.0 million, slightly improved from a loss of $2.1 million in Q3 2024 [11][26] Future Outlook - The company anticipates reaching $12.0 million in quarterly revenue and achieving its first quarter of positive adjusted EBITDA in the second half of 2026 [14]

Core Insights - electroCore, Inc. (ECOR) is anticipated to report a year-over-year decline in earnings despite an increase in revenues for the quarter ended September 2025 [1] - The upcoming earnings report is expected to be released on November 5, with the stock's movement likely influenced by whether the actual results meet or exceed expectations [2] Financial Expectations - The consensus estimate indicates a quarterly loss of $0.36 per share, reflecting a year-over-year change of -16.1% [3] - Revenues are projected to be $7.85 million, representing a 19.9% increase from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised down by 4.08% over the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate for electroCore is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.41% [12] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictive power for positive readings [9][10] - electroCore's current Zacks Rank is 3, making it challenging to predict an earnings beat [12] Historical Performance - In the last reported quarter, electroCore was expected to post a loss of $0.32 per share but actually reported a loss of -$0.35, resulting in a surprise of -9.38% [13] - Over the past four quarters, the company has only beaten consensus EPS estimates once [14] Industry Comparison - In the Zacks Medical - Drugs industry, Madrigal (MDGL) is expected to report a loss of $1.99 per share, with a significant year-over-year revenue increase of 300.8% to $249.15 million [18][19] - Madrigal's consensus EPS estimate has been revised up by 29.2% in the last 30 days, and it has a positive Earnings ESP of +27.84%, indicating a likely earnings beat [19][20]

Core Insights - electroCore, Inc. will report its financial results for Q3 2025 on November 5, 2025, after market close [1] - A webinar will be held at 4:30 PM EST on the same day to discuss the results and answer investor questions [1] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company focused on improving health and quality of life through non-invasive bioelectronic technologies [2] - The company's leading products include gammaCore, a non-invasive vagus nerve stimulation device, and Quell neurostimulator, both aimed at treating chronic pain syndromes [2] - Additionally, electroCore offers Truvaga and TAC-STIM products for general wellness and human performance enhancement [2]