[Q1 2025 Financial Results and Business Update](index=1&type=section&id=electroCore%20Announces%20First%20Quarter%202025%20Financial%20Results) electroCore reports strong Q1 2025 revenue growth, improved operational metrics, and strategic NeuroMetrix acquisition [Recent Highlights and Management Commentary](index=1&type=section&id=Recent%20Highlights) Q1 2025 revenue increased 23% to $6.7 million, driven by strategic acquisition and improved operational efficiency - Closed the acquisition of NeuroMetrix, Inc., which contributed approximately **$170,000** in unaudited Quell net sales in Q1 2025[1](index=1&type=chunk) - Management noted that increased G&A expenses of **$665,000** were due to seasonal factors, severance, and one-time costs from the NeuroMetrix transaction[2](index=2&type=chunk) - The CEO stated that the NeuroMetrix acquisition positions the company as a significant player in non-invasive bioelectronic technology with a more diversified product line[2](index=2&type=chunk) [Q1 2025 Financial Performance](index=1&type=section&id=First%20Quarter%202025%20Financial%20Results%20and%20Select%20Guidance) Q1 2025 net sales grew 23% to $6.7 million, with stable gross margins but increased operating expenses leading to a net loss Q1 2025 Revenue by Channel (in thousands) | Channel | 2025 | 2024 | % Change | | :--- | :--- | :--- | :--- | | Rx gammaCore™ – VA | $4,721 | $3,875 | 22% | | Rx gammaCore – U.S. Commercial | $289 | $433 | -33% | | Outside the United States | $513 | $449 | 14% | | Truvaga™ | $1,106 | $385 | 187% | | **Total Before TAC-STIM™** | **$6,629** | **$5,142** | **29%** | | TAC-STIM | $90 | $301 | -70% | | **Total Revenue** | **$6,719** | **$5,443** | **23%** | - Gross profit increased to **$5.7 million** with a gross margin of **85%**, compared to **$4.6 million** and **84%** margin in Q1 2024[6](index=6&type=chunk) - Total operating expenses rose to **$9.5 million** from **$8.4 million** in Q1 2024, mainly due to increased investment in selling and marketing and higher R&D headcount[6](index=6&type=chunk)[7](index=7&type=chunk)[8](index=8&type=chunk) Q1 2025 Profitability Summary | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | GAAP Net Loss | $(3.9) million | $(3.5) million | | GAAP Loss Per Share | $(0.47) | $(0.53) | | Adjusted EBITDA Net Loss | $(3.1) million | $(3.2) million | - Cash, cash equivalents, restricted cash, and marketable securities totaled approximately **$8.0 million** at March 31, 2025, down from **$12.2 million** at December 31, 2024[12](index=12&type=chunk) [Full Year 2025 Outlook](index=2&type=section&id=Full%20Year%202025%20Outlook) Company projects full-year 2025 revenue of $30.0 million and anticipates meaningful contribution from NeuroMetrix acquisition - Expects full-year 2025 total revenue to be approximately **$30.0 million**[13](index=13&type=chunk) - Projects net cash used for the next three quarters to be between **$3.8 million** and **$4.3 million**[13](index=13&type=chunk) - Anticipates that NeuroMetrix will provide meaningful revenue by the year ending December 2025[13](index=13&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) Detailed financial statements for Q1 2025 show operational results, balance sheet position, and non-GAAP reconciliations [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 statement shows $6.7 million net sales, $5.7 million gross profit, and a GAAP net loss of $3.9 million Q1 2025 Statement of Operations (in thousands, except per share data) | | Three months ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | Net sales | $6,719 | $5,443 | | Gross profit | $5,706 | $4,555 | | Total operating expenses | $9,528 | $8,404 | | Loss from operations | $(3,822) | $(3,849) | | Net loss | $(3,855) | $(3,506) | | Net loss per share - Basic and Diluted | $(0.47) | $(0.53) | [Condensed Consolidated Balance Sheet Information](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheet%20Information) As of March 31, 2025, total assets were $16.0 million, total liabilities $11.7 million, and total equity $4.4 million Balance Sheet Highlights (in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $3,777 | $3,450 | | Total assets | $16,041 | $20,471 | | Total liabilities | $11,676 | $12,927 | | Total equity | $4,365 | $7,544 | [Reconciliation of GAAP to Non-GAAP Measures](index=7&type=section&id=(Unaudited)%20Use%20of%20Non-GAAP%20Financial%20Measure) Reconciliation adjusts Q1 2025 GAAP net loss of $3.9 million to an Adjusted EBITDA net loss of $3.1 million Reconciliation of GAAP Net Loss to Adjusted EBITDA Net Loss (in thousands) | | Three months ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | **GAAP net loss** | **$(3,855)** | **$(3,506)** | | Depreciation and amortization | $155 | $206 | | Stock-based compensation | $540 | $484 | | Severance and other related charges | $180 | - | | Non-recurring one-time charges | $145 | - | | Other adjustments | $(171) | $(347) | | **Adjusted EBITDA net loss** | **$(3,054)** | **$(3,163)** | - The company uses Adjusted EBITDA as a non-GAAP measure to provide a useful indicator of its core operating performance, excluding non-cash charges and certain unpredictable expenses[23](index=23&type=chunk)[24](index=24&type=chunk) [Supplemental Information](index=3&type=section&id=Supplemental%20Information) Provides details on the Q1 2025 earnings call and standard forward-looking statement disclosures [Conference Call Information](index=3&type=section&id=Webcast%20and%20Conference%20Call%20Information) Management hosted a conference call on May 7, 2025, to discuss Q1 2025 financial results - A conference call to discuss Q1 2025 results was scheduled for May 7, 2025, at **4:30 PM EDT**[14](index=14&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) Standard safe harbor statement cautions on forward-looking statements and directs to SEC filings for risk factors - The report contains forward-looking statements concerning business prospects, clinical development, revenue guidance, and the impact of the NeuroMetrix acquisition[17](index=17&type=chunk) - Investors are advised that actual results could differ from projections and are directed to the risk factor disclosures in the company's SEC filings[17](index=17&type=chunk)

Core Insights - electroCore, Inc. reported first quarter 2025 net sales of $6.7 million, a 23% increase compared to $5.4 million in the same period of 2024 [3][6] - The company closed the acquisition of NeuroMetrix, which is expected to enhance its position in the non-invasive bioelectronic technology market [2][6] - The CEO highlighted a 29% growth in total revenue excluding TAC-STIM, indicating strong performance in core product lines [2][6] Financial Performance - Gross profit for the first quarter of 2025 was $5.7 million, representing an 85% gross margin, compared to $4.6 million and 84% gross margin in the first quarter of 2024 [4][18] - Total operating expenses increased to approximately $9.5 million from $8.4 million in the first quarter of 2024, driven by higher selling, general, and administrative expenses [5][6] - The GAAP net loss for the first quarter of 2025 was $3.9 million, or a loss of $0.47 per share, compared to a net loss of $3.5 million, or a loss of $0.53 per share, in the first quarter of 2024 [8][18] Revenue Breakdown - Sales of prescription gammaCore to the U.S. Department of Veterans Affairs (VA) reached $4.7 million, a 22% increase from $3.9 million in the prior year [4] - International sales grew by 14%, with total sales outside the United States amounting to $513,000 [4] - Truvaga wellness products saw significant growth, with sales increasing by 187% to $1.1 million compared to $385,000 in the first quarter of 2024 [4] Guidance and Outlook - For the full year 2025, the company expects total revenue to be approximately $30 million, with net cash used for the next three quarters projected between $3.8 million and $4.3 million [12] - The acquisition of NeuroMetrix is anticipated to contribute meaningful revenue by the end of 2025, expanding the company's product offerings [12]

Core Insights - The merger between electroCore, Inc. and NeuroMetrix, Inc. has been completed, enhancing electroCore's position in the bioelectronic technology market focused on non-invasive health solutions [1][3] - The acquisition of NeuroMetrix's Quell® Fibromyalgia Solution expands electroCore's portfolio and is expected to significantly increase its addressable market for chronic pain and wellness treatments [2][3] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company dedicated to improving health and quality of life through innovative non-invasive technologies [5] - Following the merger, NeuroMetrix will become an indirect wholly-owned subsidiary of electroCore, with its shares being de-listed from the Nasdaq Capital Market [3][7] Market Position and Strategy - The merger allows electroCore to leverage established distribution channels, particularly within the VA Hospital System, to accelerate the adoption of the Quell Fibromyalgia solution [3] - The addition of the Quell solution diversifies electroCore's offerings in non-pharmaceutical, non-invasive nerve stimulation, reinforcing its leadership in the bioelectronic technology sector [3]

Core Insights - electroCore, Inc. announced that its flagship wellness product, Truvaga Plus, is now compatible with the Apple Health app, enhancing user experience and health management [1][2] - Truvaga Plus is a hand-held vagus nerve stimulator aimed at providing stress relief, improving sleep, enhancing peace of mind, and improving focus [1] - The integration with the Apple Health app allows users to track their health data, including their progress with Truvaga Plus, in a consolidated view [2] Product Features - Truvaga Plus enables users to log their feelings after each session, utilizing the State of Mind API to monitor mental wellbeing over time [2] - The Apple Health app provides a secure platform for users to store and access important health information, leveraging the privacy features of iPhones [3] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company focused on improving health and quality of life through innovative non-invasive technologies [4]

Core Insights - electroCore, Inc. will report its financial results for Q1 2025 on May 7, 2025, after market close [1] - A webinar will be held at 4:30 PM EST on the same day to discuss the financial results and address investor questions [1] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company focused on enhancing health and quality of life through innovative non-invasive technologies [2]

Core Insights - electroCore, Inc. announced new data at the 2025 International Brain Injury Association World Congress, highlighting the effectiveness of gammaCore® non-invasive vagus nerve stimulation (nVNS) in treating concussive symptoms associated with mild traumatic brain injury (mTBI) [1][3] Study Findings - A study involving 102 patients with mild TBI showed that adjunctive use of gammaCore (nVNS) significantly improved 22 out of 27 measured concussive symptoms, with notable improvements in post-traumatic headache, nausea, dizziness, and depression [3] - The study indicated no significant difference in symptom improvement between patients with recent traumatic brain injuries (three months or less) and those with older injuries (three years or more), suggesting the potential benefits of neuromodulation regardless of the time since injury [3] Expert Commentary - Dr. Michael Ament emphasized the urgent need for nonpharmaceutical treatment options for mild TBI, reinforcing the role of vagus nerve stimulation in alleviating long-term effects [2][4] - Dr. Peter Staats, Chief Medical Officer of electroCore, praised Dr. Ament's research for demonstrating the clinical efficacy of gammaCore in improving concussive symptoms in a large patient cohort [4] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic medicine and wellness company focused on improving health through its nVNS technology platform, aiming to commercialize medical devices for managing and treating specific medical conditions [5]

Dan Goldberger, CEO, will host a group presentation on Wednesday, April 23, 2025 at 1:30 p.m. PT and host one-on-one meetings throughout both days. To schedule a one-on-one meeting with Mr. Goldberger, investors are encouraged to reach out to Planet MicroCap or electroCore's investor relations at ecor@fnkir.com. About electroCore, Inc. electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation ("nVNS") te ...

ROCKAWAY, N.J., April 03, 2025 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, has been recognized by the Financial Times as one of “The Americas’ Fastest Growing Companies 2025.” Debuting at number 125, electroCore joins 300 other companies dominating in their respective sectors. This is the sixth annual list that the Financial Times published, ranking companies based on the highest compound annual revenue growth between the years 2020 a ...

Dan Goldberger, CEO and Joshua Lev, Chief Financial Officer, will host a group presentation at 2:15 p.m. ET and participate in one-on-one meetings throughout the day. electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation ("nVNS") technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings util ...

ROCKAWAY, N.J., March 31, 2025 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, announced today that electroCore has received a new Federal Supply Schedule (FSS) contract, with an effective date of June 15, 2025 and running through June 14, 2030. "Obtaining a follow-on contract in this macro environment is a tremendous vote of confidence by the Veterans Affairs (VA) FSS Service, demonstrating that gammaCore continues to be a cost effective ...