electroCore, Inc. (NASDAQ:ECOR) Q1 2024 Earnings Conference Call May 8, 2024 4:30 PM ET Company Participants Dan Goldberger - CEO Brian Posner - CFO Conference Call Participants Jeffrey Cohen - Ladenburg Thalmann Bruce Jackson - The Benchmark Company Swayampakula Ramakanth - H.C. Wainwright Nicholas Sherwood - Maxim Group Operator Greetings and welcome to the electroCore First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will ...

ElectroCore, Inc. (ECOR) came out with a quarterly loss of $0.53 per share versus the Zacks Consensus Estimate of a loss of $0.50. This compares to loss of $1.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6%. A quarter ago, it was expected that this company would post a loss of $0.55 per share when it actually produced a loss of $0.61, delivering a surprise of -10.91%.Over the last four quarters, the company has not been ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ TO ______________ Commission File Number 001-38538 electroCore, Inc. (Exact name of Registrant as specified in its charter) Delaware 20-3454976 (S ...

electroCore Announces First Quarter 2024 Financial Results Record first quarter 2024 net sales of $5.4 million, an increase of 96% over first quarter 2023 · Record revenue of $5.4 million, an increase of 96% over first quarter 2023 · Launched our direct-to-consumer mobile app-enabled product for general wellness, Truvaga Plus™ Gross profit for the first quarter of 2024 was $4.6 million as compared to $2.3 million for the first quarter of 2023. Gross margin was 84% for the first quarter of 2024 and 2023. Tot ...

ROCKAWAY, N.J., May 01, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial- stage bioelectronic medicine and wellness company, today announced that it will report financial results for the first quarter ended March 31, 2024, after the close of the market on Wednesday, May 8, 2024. Management will host a conference call and webcast at 4:30 PM EDT to discuss the financial results and answer questions. Wednesday, May 8, 4:30 PM EDT Domestic: 877-407-8835 International: located here Confere ...

ROCKAWAY, N.J., May 01, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that it will report financial results for the first quarter ended March 31, 2024, after the close of the market on Wednesday, May 8, 2024. Management will host a conference call and webcast at 4:30 PM EDT to discuss the financial results and answer questions. Wednesday, May 8, 4:30 PM EDTDomestic: 877-407-8835International: located hereConference ...

ROCKAWAY, N.J., April 08, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (NASDAQ:ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced the launch of its direct-to-consumer mobile app-enabled product for general wellness, Truvaga Plus, which will be available on www.truvaga.com beginning April 8, 2024. Our first general wellness product, Truvaga 350, exceeded our expectations and Truvaga Plus will be an exciting addition to the Truvaga brand. Truvaga Plus is engineered to seamles ...

Financial Data and Key Metrics Changes - The company reported revenue of $16 million for the full year ended December 31, 2023, representing an 87% increase over the prior year, with a compound annual growth rate of over 60% since the current management joined five years ago [5][51] - Gross profit for the year ended December 31, 2023, was $13.2 million, an increase of $6.3 million compared to $7 million for the year ended December 31, 2022, with gross margins improving from 81% to 83% [93] - GAAP net loss for the full year of 2023 was $18.8 million, compared to a net loss of $22.2 million for 2022, while adjusted EBITDA net loss improved to $15.4 million from $19 million [52] Business Line Data and Key Metrics Changes - Sales in the VA channel grew 89% to $9.6 million in 2023 from $5.1 million in 2022, with 147 VA facilities purchasing prescription gammaCore products [24] - Truvaga net sales were approximately $1 million for the full year 2023, with a media efficiency ratio of approximately $2.27, indicating a return of $2.27 for every dollar spent on advertising [8][26] - TAC-STIM sales for the full year 2023 were recorded at $1.75 million, with expectations for growth as awareness spreads among active duty military units [27] Market Data and Key Metrics Changes - Revenue from channels outside the United States increased by 13% in U.S. dollars to $1.8 million in 2023, with an 18% increase in local currency [29] - The company has identified a total addressable market of approximately 600,000 headache patients within the VA hospital system, with current penetration at less than 1% [24][47] Company Strategy and Development Direction - The company plans to launch Truvaga Plus, a mobile app-enabled cervical noninvasive vagus nerve stimulator, to enhance its product offerings and customer engagement [16][80] - The company is focusing on expanding its prescription gammaCore therapy to treat additional indications such as PTSD and opioid use disorder, which could significantly increase its market potential [55] - The distribution agreement with Joerns Healthcare is expected to add over 12.5 million covered lives within a select managed care health system, enhancing the company's reach [85] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in the U.S. prescription headache business and the anticipated launch of Truvaga Plus [35][89] - The company acknowledged challenges in gaining reimbursement in other national health systems but plans to focus investments in the U.S. market for the time being [39] - Management highlighted the importance of understanding the characteristics of high-revenue cash pay practices to drive future growth [65] Other Important Information - The company raised approximately $7.5 million through a registered direct offering and private placements in July 2023, with cash and cash equivalents totaling approximately $10.6 million as of December 31, 2023 [32] - The company is working on clinical trials, including the NOVIS trial for acute ischemic stroke, with top-line data expected by the end of 2024 [50][67] Q&A Session Summary Question: What is the difference between TAC-STIM and TAC-STIM Black? - TAC-STIM Black is a more rugged and powerful implementation, set to launch as a commercial off-the-shelf device later this year [38] Question: How is the business outside of the NHS performing? - The NHS has been supportive, with growth in the U.K. market at 4% to 6% year-on-year, but the company plans to focus on U.S. investments for now [39] Question: What are the expectations for TAC-STIM sales in the first quarter of 2024? - First quarter TAC-STIM sales are expected to be sequentially down from the fourth quarter due to delays in contract processes [43] Question: What is the current penetration of the VA market? - The company has reached about 12% penetration of the 1,300 VA facilities, with significant room for growth given the large number of headache patients [47] Question: What are the growth drivers for the upcoming year? - The company anticipates growth from new product lines, increased prescriber awareness, and ongoing marketing efforts [61][89]

ElectroCore, Inc. (ECOR) came out with a quarterly loss of $0.61 per share versus the Zacks Consensus Estimate of a loss of $0.55. This compares to loss of $1.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.91%. A quarter ago, it was expected that this company would post a loss of $0.64 per share when it actually produced a loss of $0.68, delivering a surprise of -6.25%.Over the last four quarters, the company has not b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38538 Washington, D.C. 20549 electroCore, Inc. FORM 10-K (Exact name of Registrant as specified in its Charter) (Mark One) (State or other jurisdiction of incorporation or organization) 200 Forge Way, Suite 205, Rockaway, NJ 07866 (Address of principal executive offices) (Zip Code) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended Decemb ...