Core Insights - electroCore, Inc. has appointed Elena Bonfiglioli to its Board of Directors effective September 2, 2025, following the retirement of Peter Cuneo [1] - Ms. Bonfiglioli brings over two decades of experience in the healthcare sector, currently serving as Microsoft's Global Business Leader for Healthcare, Pharma Life Sciences, and International clinical applications [2] - She has been recognized as one of the top 50 AI Innovators and has held various leadership roles in healthcare organizations, emphasizing the use of data and AI to enhance health outcomes [2][3] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company focused on improving health and quality of life through non-invasive bioelectronic technologies [4] - The company's leading products include gammaCore, a non-invasive vagus nerve stimulation device, and Quell neurostimulator, both aimed at treating chronic pain syndromes [4] - Additionally, electroCore markets handheld products like Truvaga and TAC-STIM, which utilize bioelectronic technologies for general wellness and human performance [4]

Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company focused on improving health and quality of life through innovative non-invasive bioelectronic technologies [3] - The company's leading prescription products include gammaCore, a non-invasive vagus nerve stimulation (nVNS) device, and Quell neurostimulator, both aimed at treating chronic pain syndromes through non-invasive neuromodulation technology [3] - Additionally, electroCore offers handheld and personal use products such as Truvaga and TAC-STIM nVNS, which utilize bioelectronic technologies to promote general wellness and human performance [3] Upcoming Events - Management of electroCore will participate in the H.C. Wainwright 27th Annual Global Investment Conference on September 9, 2025, at the Lotte New York Palace Hotel [1] - One-on-one meetings will be hosted throughout the day for interested investors [1] Investor Relations - Investors wishing to request a meeting can contact their sales representative at H.C. Wainwright or reach out to electroCore Investor Relations via email at ecor@fnkir.com [2]

Core Insights - electroCore, Inc. has appointed Kelly Benning as the Senior Vice President of Truvaga, effective July 21, 2025, bringing nearly 30 years of experience in digital health and consumer wellness [1][3] - Ms. Benning emphasizes the shift in the wellness market towards personalized, consumer-centric solutions, aiming to innovate and refine technology to empower individuals in managing their well-being [2][3] - The company focuses on building a movement around science-backed wellness solutions and plans to leverage strategic partnerships for greater accessibility to its consumer devices [2][3] Company Overview - electroCore is a commercial-stage bioelectronic technology company dedicated to improving health and quality of life through non-invasive bioelectronic technologies [5] - The company's leading products include gammaCore, a non-invasive vagus nerve stimulation device, and Quell neurostimulator, both targeting chronic pain syndromes [5] - electroCore also markets Truvaga™, a handheld device aimed at promoting general wellness and human performance [5] Leadership Background - Kelly Benning has a proven track record in bringing digital health products to market, including the first FDA-cleared watch for blood pressure monitoring [2][3] - Her previous roles include executive positions at LiveMetric, IBM Watson Health, and other healthcare enterprises, showcasing her extensive experience in the industry [3] - The CEO of electroCore, Dan Goldberger, expressed confidence in Ms. Benning's ability to expand the company's direct-to-consumer strategy [4]

分组1 - electroCore, Inc. reported a quarterly loss of $0.35 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.32, but an improvement from a loss of $0.38 per share a year ago, resulting in an earnings surprise of -9.38% [1] - The company posted revenues of $7.38 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 0.83%, and showing an increase from $6.14 million in the same quarter last year [2] - electroCore has surpassed consensus revenue estimates two times over the last four quarters, while it has only exceeded consensus EPS estimates once during the same period [2] 分组2 - The stock has underperformed significantly, losing about 57.7% since the beginning of the year, compared to a 7.1% gain in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is -$0.27 on revenues of $7.81 million, and for the current fiscal year, it is -$1.19 on revenues of $30.72 million [7] - The Zacks Industry Rank for Medical - Drugs is currently in the top 34% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Data and Key Metrics Changes - The company reported record revenue of $7.4 million for Q2 2025, representing a 20% increase year-over-year and a 10% sequential increase [7][19] - Gross margins remained strong at 87%, slightly up from 86% in the previous year [7][20] - GAAP net loss was $3.7 million, or a loss of $0.44 per share, compared to a net loss of $2.7 million, or $0.38 per share, in the previous year [21][22] - Cash balance as of June 30, 2025, was approximately $7.4 million, down from $12.2 million at the end of 2024 [22][23] Business Line Data and Key Metrics Changes - Revenue from the VA hospital system grew 12% sequentially, reaching $5.3 million in Q2 2025 [8][19] - Direct-to-consumer brand TRUVEGA posted $1 million in sales for Q2, a 74% year-over-year growth but a sequential decline [10][19] - The U.S. prescription channel recorded revenue of $394,000, down 17% year-over-year [13][19] Market Data and Key Metrics Changes - Revenue from outside the U.S. was $465,000 for the quarter, down 9% from the same period last year [14][19] - The total addressable market within the VA channel is significant, with estimates of 600,000 patients treated for headaches [8][9] Company Strategy and Development Direction - The company is transitioning from a single product focus to a broader bioelectronic technology company, with plans to invest in growth and long-term value creation [5][12] - The integration of the recently acquired Neurometrics has been completed ahead of schedule, and the company is focusing on expanding its product offerings [6][25] - The company plans to increase marketing and promotional investments in the TRUVEGA platform to drive growth in 2026 and beyond [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the VA channel and the direct-to-consumer market, despite delays in profitability due to increased spending [25][29] - The company expects to need $11.5 million to $12 million in quarterly revenue to achieve cash positivity, significantly higher than the current revenue levels [18][19] - Management highlighted the importance of gross profit margins, which could lead to improved operating margins once sufficient revenue is generated [19][25] Other Important Information - The company entered into a term debt facility with Avenue Capital, providing approximately $7.2 million in additional net cash [14][23] - The company is facing patent infringement issues with a competitor, which has led to legal expenses [11][36] Q&A Session Summary Question: Insights into TRUVEGA revenue composition - The $500 TRUVEGA Plus accounts for about 80% of revenue in the category, while the $350 version lags behind [35] Question: Legal actions regarding patent infringement - Cross complaints have been filed in federal court, but no further comments were made beyond public filings [36] Question: New product expectations - The prescription Quell Fibromyalgia product line is now operational, expected to generate material revenue in the latter half of the year [38][39] Question: Annualized marketing spend increase - Marketing spend is expected to increase by 5% to 6% in line with revenue growth [42][43] Question: Decision to ramp up spending and delay profitability - The decision was influenced by restructuring the sales force and positive trends in direct-to-consumer business [48][49] Question: Contribution of Amazon sales - The company is still resolving issues related to order fulfillment from Amazon [48] Question: Return on advertising spend - The media efficiency ratio was 2.0, indicating $2 of revenue generated for every $1 spent on advertising [57] Question: Integration with Apple Health - The integration allows access to a larger biohacker ecosystem, with potential use cases being explored [59]

PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the company's unaudited condensed consolidated financial statements, management's discussion and analysis, and disclosures on market risk and controls [Cautionary Note Regarding Forward-Looking Statements](index=4&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This section advises readers that the report contains forward-looking statements subject to risks and uncertainties, which could cause actual results to differ materially from projections - Forward-looking statements are subject to risks and uncertainties, and actual results may differ materially[10](index=10&type=chunk) - Statements are based on management's beliefs and assumptions, and the company does not undertake to update them[10](index=10&type=chunk) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for electroCore, Inc. and its subsidiaries, including balance sheets, statements of operations, comprehensive loss, equity, and cash flows, along with accompanying notes - The financial statements are unaudited and prepared in conformity with U.S. GAAP and SEC regulations for interim reporting[28](index=28&type=chunk) [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheets (in thousands) | (in thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $3,373 | $3,450 | | Restricted cash | $250 | $250 | | Marketable securities | $3,772 | $8,519 | | Accounts receivable, net | $813 | $1,367 | | Inventories | $1,427 | $1,676 | | Prepaid expenses and other current assets | $922 | $1,038 | | **Total current assets** | **$10,557** | **$16,300** | | Property and equipment, net | $197 | $158 | | Operating lease right of use assets, net | $3,663 | $3,739 | | Other assets, net | $142 | $274 | | **Total assets** | **$14,559** | **$20,471** | | **Liabilities and Stockholders' Equity** | | | | Accounts payable | $2,567 | $1,827 | | Accrued expenses and other current liabilities | $6,646 | $6,964 | | Current portion of operating lease liabilities | $405 | $361 | | **Total current liabilities** | **$9,618** | **$9,152** | | Noncurrent operating lease liabilities | $3,828 | $3,775 | | **Total liabilities** | **$13,446** | **$12,927** | | Common Stock, par value $0.001 per share | $7 | $7 | | Additional paid-in capital | $185,741 | $184,513 | | Accumulated deficit | $(184,616) | $(177,090) | | Accumulated other comprehensive income | $(19) | $114 | | **Total stockholders' equity** | **$1,113** | **$7,544** | | **Total liabilities and stockholders' equity** | **$14,559** | **$20,471** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (in thousands, except per share data) | (in thousands, except per share data) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $7,381 | $6,139 | $14,100 | $11,582 | | Cost of goods sold | $939 | $838 | $1,952 | $1,726 | | Gross profit | $6,442 | $5,301 | $12,148 | $9,856 | | Operating expenses: | | | | | | Research and development | $511 | $635 | $1,153 | $1,034 | | Selling, general and administrative | $9,437 | $7,257 | $18,323 | $15,262 | | Total operating expenses | $9,948 | $7,892 | $19,476 | $16,296 | | Loss from operations | $(3,506) | $(2,591) | $(7,328) | $(6,440) | | Total other expense (income) | $165 | $64 | $246 | $(157) | | Loss before income taxes | $(3,671) | $(2,655) | $(7,574) | $(6,283) | | Benefit from income taxes | $- | $- | $48 | $122 | | Net loss | $(3,671) | $(2,655) | $(7,526) | $(6,161) | | Net loss per share – Basic and Diluted | $(0.44) | $(0.38) | $(0.91) | $(0.90) | | Weighted average common shares outstanding – Basic and Diluted | 8,316 | 7,046 | 8,302 | 6,831 | [Condensed Consolidated Statements of Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Condensed Consolidated Statements of Comprehensive Loss (in thousands) | (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net loss | $(3,671) | $(2,655) | $(7,526) | $(6,161) | | Other comprehensive (loss) income: | | | | | | Foreign currency translation adjustment | $(89) | $33 | $(133) | $109 | | Other comprehensive (loss) income | $(89) | $33 | $(133) | $109 | | Comprehensive loss | $(3,760) | $(2,622) | $(7,659) | $(6,052) | [Condensed Consolidated Statements of Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Equity) Condensed Consolidated Statements of Equity (in thousands) | (in thousands) | Common Stock Shares | Common Stock Amount | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Balances as of January 1, 2025** | **6,651** | **$7** | **$184,513** | **$(177,090)** | **$114** | **$7,544** | | Net loss | — | — | — | $(3,855) | — | $(3,855) | | Other comprehensive income | — | — | — | — | $(44) | $(44) | | Sale of common stock | 14 | — | 217 | — | — | 217 | | Financing fees | — | — | (38) | — | — | (38) | | Proceeds from the exercise of warrants | 725 | — | 1 | — | — | 1 | | Issuance of stock related to employee compensation, net | 30 | — | — | — | — | — | | Share based compensation | — | — | 540 | — | — | 540 | | **Balances as of March 31, 2025** | **7,420** | **$7** | **$185,233** | **$(180,945)** | **$70** | **$4,365** | | Net loss | — | — | — | $(3,671) | — | $(3,671) | | Other comprehensive income | — | — | — | — | $(89) | $(89) | | Options exercised | 10 | — | 45 | — | — | 45 | | Financing fees | — | — | (42) | — | — | (42) | | Issuance of stock related to employee compensation, net | 36 | — | — | — | — | — | | Share based compensation | — | — | 505 | — | — | 505 | | **Balances as of June 30, 2025** | **7,466** | **$7** | **$185,741** | **$(184,616)** | **$(19)** | **$1,113** | | **Balances as of January 1, 2024** | **6,003** | **$6** | **$172,704** | **$(165,204)** | **$(64)** | **$7,442** | | Net loss | — | — | — | $(3,506) | — | $(3,506) | | Other comprehensive income | — | — | — | — | 76 | 76 | | Issuance of stock related to employee compensation plan, net of forfeitures | 3 | — | — | — | — | — | | Share based compensation | — | — | 484 |

Financial Performance - Net sales for Q2 2025 reached $7.4 million, a 20% increase compared to $6.1 million in Q2 2024[4] - Year-to-date net sales totaled $14.1 million, reflecting a 22% increase from the first half of 2024[6] - Gross profit for Q2 2025 was $6.4 million, resulting in an 87% gross margin, compared to $5.3 million and 86% gross margin in Q2 2024[7] - GAAP net loss for Q2 2025 was $3.7 million, or a loss of $0.44 per share, compared to a net loss of $2.7 million, or a loss of $0.38 per share in Q2 2024[11] - Adjusted EBITDA net loss for Q2 2025 was $2.4 million, compared to a net loss of $1.9 million in Q2 2024[12] - For the six months ended June 30, 2025, GAAP net loss was $7,526,000, compared to $6,161,000 for the same period in 2024, an increase of 22%[27] - Adjusted EBITDA net loss for the six months ended June 30, 2025, was $5,436,000, compared to $5,006,000 in the same period of 2024, reflecting an increase of 9%[27] Operating Expenses - Total operating expenses in Q2 2025 were approximately $9.9 million, up from $7.9 million in Q2 2024[7] - Research and development expenses decreased to $511,000 in Q2 2025 from $635,000 in Q2 2024[8] - Selling, general and administrative expenses increased to $9.4 million in Q2 2025, compared to $7.3 million in Q2 2024[9] - Total depreciation and amortization for Q2 2025 was $124,000, down from $201,000 in Q2 2024, reflecting a decrease of 38%[27] - Stock-based compensation increased to $506,000 in Q2 2025 from $472,000 in Q2 2024, marking an increase of 7%[27] - The reserve for bad debt charge was $548,000 in Q2 2025, with no charge reported in Q2 2024[27] - Non-recurring one-time charges amounted to $232,000 in Q2 2025, with no such charges in Q2 2024[27] Cash and Future Projections - Cash, cash equivalents, restricted cash, and marketable securities totaled $7.4 million as of June 30, 2025[6] - The company expects total revenue for the full year 2025 to be approximately $30.0 million[15] Other Financial Metrics - Interest and other income/expense for Q2 2025 was $(62,000), compared to $66,000 in Q2 2024, indicating a negative swing of 194%[27] - The company emphasizes the limitations of non-GAAP measures and recommends considering them alongside GAAP-based financial performance metrics[28]

Core Insights - electroCore, Inc. reported net sales of $7.4 million for Q2 2025, representing a 20% increase compared to Q2 2024, and year-to-date net sales of $14.1 million, a 22% increase compared to the first half of 2024 [4][8] - The company successfully closed the acquisition of NeuroMetrix, Inc. and completed the integration ahead of schedule, while also reducing cash usage to approximately $614,000 in Q2 2025 [3][8] Financial Performance - For Q2 2025, gross profit was $6.4 million, yielding an 87% gross margin, compared to $5.3 million and 86% gross margin in Q2 2024 [4] - Total operating expenses for Q2 2025 were approximately $9.9 million, up from $7.9 million in Q2 2024, driven by increased selling, general, and administrative expenses [6][9] - GAAP net loss for Q2 2025 was $3.7 million, or a loss of $0.44 per share, compared to a net loss of $2.7 million, or a loss of $0.38 per share, in Q2 2024 [11][22] Revenue Breakdown - The increase in net sales was primarily attributed to higher sales of prescription products sold to the U.S. Department of Veterans Affairs (VA) and growth in nonprescription wellness products, including Truvaga™ and TAC-STIM [4][8] - Prescription gammaCore sales to the VA increased by 13% year-over-year, while sales of Truvaga™ surged by 74% in Q2 2025 compared to Q2 2024 [5][8] Cash Position and Outlook - As of June 30, 2025, the company had cash, cash equivalents, restricted cash, and marketable securities totaling $7.4 million, down from $12.2 million at the end of 2024 [14] - For the full year 2025, the company expects total revenue to be approximately $30.0 million and net cash usage to be between $3.9 million and $4.4 million [15]

Core Insights - electroCore, Inc. has appointed James C. Theofilos to its Board of Directors effective August 1, 2025, highlighting the company's commitment to enhancing its leadership team [1][2] - Mr. Theofilos brings nearly two decades of experience in finance and strategic growth, particularly in the healthcare and life sciences sectors, which is expected to benefit electroCore's operational discipline and innovation [2] - electroCore focuses on improving health and quality of life through non-invasive bioelectronic technologies, with its leading products including gammaCore and Quell neurostimulator for chronic pain treatment [3] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company dedicated to innovative non-invasive solutions for health improvement [3] - The company's primary products, gammaCore and Quell, utilize non-invasive vagus nerve stimulation technology to address chronic pain syndromes [3] - Additionally, electroCore markets Truvaga products, which are designed for personal use to enhance general wellness and human performance [3]

Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company focused on improving health and quality of life through innovative non-invasive bioelectronic technologies [2] - The company's leading prescription products include gammaCore, a non-invasive vagus nerve stimulation (nVNS) device, and Quell neurostimulator, both aimed at treating chronic pain syndromes [2] - Additionally, electroCore offers Truvaga products, which are handheld nVNS devices designed for personal use to promote general wellness and human performance [2] Upcoming Financial Results - electroCore will report its financial results for the second quarter ended June 30, 2025, after the market closes on August 6, 2025 [1] - Management will host a webinar at 4:30 PM EDT on the same day to review the financial results and address investor questions [1] - Investors can access the webinar through a provided registration link and dial-in details [1]