electroCore Announces Third Quarter 2024 Financial Results Record quarterly revenues driven by 75% YoY growth of Rx gammaCore™ in the VA/DoD and 147% increase in Truvaga™ sales Company to host a conference call and webcast today, November 13, 2024 at 4:30 p.m. EST ROCKAWAY, NJ, November 13, 2024 (GLOBE NEWSWIRE) – electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company and wellness company, today announced third quarter 2024 financial results. Recent Highlights · Eighth consecuti ...

Record quarterly revenues driven by 75% YoY growth of Rx gammaCore™ in the VA/DoD and 147% increase in Truvaga™ sales  Company to host a conference call and webcast today, November 13, 2024 at 4:30 p.m. EST ROCKAWAY, N.J., Nov. 13, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company and wellness company, today announced third quarter 2024 financial results. Recent Highlights Eighth consecutive record quarterly revenue of $6.6 million, an increase of 4 ...

ROCKAWAY, N.J., Nov. 12, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, is proud to announce that its flagship wellness product, Truvaga Plus, has been awarded the prestigious Men’s Health Magazine Tech Award for a pioneering wellness device recognized for innovation and excellence. The award celebrates groundbreaking advancements in health and technology and highlights products that significantly impact men’s health and wellness. A ...

electroCore, Inc. (ECOR) shares soared 6% in the last trading session to close at $13.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 61.1% gain over the past four weeks.The recent rise in the stock price can be attributed to investors’ optimism about the financial performance of electroCore’s flagship product, gammaCore Sapphire, in the upcoming third-quarter 2024 results. The company also has two other products in its comme ...

electroCore, Inc. (ECOR) shares rallied 11.7% in the last trading session to close at $8.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.5% gain over the past four weeks.The sudden rise in the stock price can be attributed to the investors’ positive mindset regarding the financial performance of electroCore’s flagship product, gammaCore Sapphire, in the upcoming earnings results. It is a prescription m ...

. ● . electroCore to Participate at LD Micro Main Event VXII October 14, 2024 8:00 AM EDT | Source: LD Micro Rockaway, New Jersey--(Newsfile Corp. - October 14, 2024) - electroCore, Inc. (NASDAQ: ECOR), a commercial-stage bioelectronic medicine and wellness company, announced today that management will participate at the LD Micro Main Event XVII on Tuesday, October 29 at 4:30 p.m. PT at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. Dan Goldberger, CEO will be representing the company and will be avail ...

Core Insights - electroCore, Inc. announced new findings from the Air Force Research Laboratories (AFRL) that support the effectiveness of its TAC-STIM (nVNS) technology in enhancing pilot training [1][3] - The study demonstrated a significant improvement in sensorimotor learning among participants using nVNS compared to a sham treatment, with a 51% improvement in performance by trial 12 [2] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic medicine and wellness company focused on non-invasive vagus nerve stimulation (nVNS) technology for health improvement and performance enhancement [5] - The company aims to commercialize medical devices for managing specific medical conditions and consumer products that promote general well-being [5] Product Information - TAC-STIM is a non-invasive vagus nerve stimulator designed to enhance human performance by improving memory retention, attention, and mood, while also accelerating training and reducing fatigue [7] - The device is marketed as a low-risk general wellness product and is not intended for the treatment or diagnosis of any medical conditions [7] Research and Development - The study conducted by AFRL involved 28 participants and assessed the impact of nVNS on their training performance over a series of trials [2] - The results indicated a 99% probability that active nVNS was superior to sham treatment, suggesting a higher learning rate in the nVNS group [2] Future Prospects - The CEO of electroCore expressed optimism about ongoing studies and the potential applications of TAC-STIM across various branches of the Armed Forces [3] - The company is looking forward to additional data that could further validate the effectiveness of its technology in military training contexts [3]

Financial Data and Key Metrics Changes - The company reported record revenue of $6.1 million for Q2 2024, a 73% increase compared to $3.6 million in Q2 2023, reflecting a 69% five-year compound annual growth rate [6][16] - Gross margins improved to 86% in Q2 2024 from 84% in Q2 2023, with a gross profit increase of $2.3 million [16][17] - The net loss for Q2 2024 was $2.7 million, significantly reduced from a net loss of $4.9 million in Q2 2023 [17][18] - Cash used from operations was approximately $1.8 million for the quarter, with cash and equivalents totaling about $14.5 million as of June 30, 2024 [23][20] Business Line Data and Key Metrics Changes - The prescription gammaCore therapy sales in the VA channel grew 120% to $4.6 million in Q2 2024 from $2.1 million in Q2 2023 [8][9] - Truvaga sales reached approximately $572,000 in Q2 2024, up from $290,000 in Q2 2023, indicating strong market acceptance [9][10] - TAC-STIM sales were $55,000 in Q2 2024, down from $311,000 in the same period last year, attributed to anticipation of the new handset launch [12][33] Market Data and Key Metrics Changes - Revenue from channels outside the U.S. increased by 9% to $464,000 in Q2 2024, primarily driven by prescription gammaCore sales in the UK [14] - The VA hospital system remains the largest revenue channel, with approximately 600,000 patients treated for headaches [9] Company Strategy and Development Direction - The company is focused on expanding its presence in the VA hospital system and developing clinical champions within managed care systems [32][37] - Plans to establish additional indications for prescription gammaCore to treat PTSD and opioid use disorder are underway [20][34] - The launch of Truvaga Plus has been positively received, with expectations for further product offerings and channels to enhance customer lifetime value [19][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive cash flow early next year, supported by the current financial resources [20][21] - The company anticipates that TAC-STIM revenue will increase in the latter half of 2024 as active-duty units evaluate and purchase in bulk [19][12] - There is optimism regarding the growth potential of the Truvaga brand as a direct-to-consumer wellness product [19][10] Other Important Information - The company raised approximately $9 million through a registered direct offering and private placements in June 2024 [20][18] - The VA hospital system's gammaCore therapy is free for patients covered by veterans administration benefits, representing about 9 million covered lives [8] Q&A Session Summary Question: Current shares outstanding - The company has 4.6 million shares outstanding, with an average of 7.05 million used for the quarter [21][22] Question: Cash loss for the quarter - Cash used from operations was about a little under $1.8 million [23] Question: Expectations for TAC-STIM sales - Sales are expected to be stronger in the back half of the year, with a large commitment for delivery in October [24] Question: Growth expectations in the UK and other territories - The UK is expected to grow in the mid-single digits, while other geographies are more of a 2025 story [25] Question: Update on commercial payers - The focus is on developing clinical champions within the Joerns managed care system before directing resources to other national payers [32] Question: Effectiveness of vagus nerve stimulation for language learning - The trial was conducted with gammaCore handsets, and results could be inferred for TAC-STIM and Truvaga [38] Question: Updated VA DoD facility count - The current count is 160 facilities [39] Question: Comments on new indications or studies - The company is supportive of the research interest in new indications, which could lead to future opportunities [40]

Company Participation in Conferences - electroCore's CEO, Dan Goldberger, will participate in the 9th Annual Needham Virtual MedTech & Diagnostics 1x1 Conference on August 12-13, 2024 [1] - CFO Brian Posner is scheduled to attend the 44th Annual Canaccord Genuity Growth Conference in Boston, MA, with 1x1 investor meetings hosted by electroCore on August 13, 2024 [2] Company Overview - electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company focused on improving health through its non-invasive vagus nerve stimulation (nVNS) technology platform [3] - The company aims to commercialize medical devices for managing and treating specific medical conditions, as well as consumer products utilizing nVNS to enhance general wellbeing and human performance in the U.S. and select international markets [3]

Core Insights - ElectroCore, Inc. reported a quarterly loss of $0.38 per share, slightly better than the Zacks Consensus Estimate of a loss of $0.39, and an improvement from a loss of $1.03 per share a year ago [1] - The company achieved revenues of $6.14 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 4.87% and showing significant growth from $3.55 million in the same quarter last year [2] - The stock has underperformed the market, losing about 2.4% since the beginning of the year, while the S&P 500 gained 9.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.30 on revenues of $6.48 million, and for the current fiscal year, it is -$1.38 on revenues of $25.19 million [7] - The estimate revisions trend for ElectroCore is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Medical - Drugs industry, to which ElectroCore belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Another company in the same industry, Xenetic Biosciences, is expected to report a quarterly loss of $0.83 per share, reflecting a year-over-year change of -20.3% [9]