electroCore(ECOR) - 2025 Q2 - Quarterly Results

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]