electroCore(ECOR) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 2025 reached $8.7 million, a 33% increase compared to $6.6 million in Q3 2024[4] - Year-to-date net sales totaled $22.8 million, reflecting a 26% increase from the first nine months of 2024[4] - Prescription device sales amounted to $6.8 million in Q3 2025, up 19% from $5.7 million in Q3 2024[5] - Health and wellness product sales surged by 121% to $1.9 million in Q3 2025, compared to $0.9 million in Q3 2024[5] - Gross profit for Q3 2025 was $7.5 million, representing an 86% gross margin, compared to $5.5 million and 84% gross margin in Q3 2024[5] - The company raised its full-year 2025 revenue guidance to between $31.5 million and $32.5 million[3] Expenses - Research and development expenses increased to $0.7 million in Q3 2025 from $0.5 million in Q3 2024, primarily due to costs for a new mobile application[6] - Selling, general and administrative expenses rose to $9.7 million in Q3 2025, up from $7.6 million in Q3 2024, driven by increased marketing investments[7] - Stock-based compensation for Q3 2025 was $415,000, a marginal increase from $400,000 in Q3 2024[28] - Acquisition-related expenses for Q3 2025 amounted to $501,000, with total expenses for the nine months reaching $828,000[28] - Depreciation and amortization expenses for Q3 2025 were $118,000, down from $185,000 in Q3 2024[28] - Non-recurring one-time charges for Q3 2025 totaled $280,000, with a total of $330,000 for the nine months[28] Net Loss - The net loss for Q3 2025 was $3.4 million, or $0.40 per share, compared to a net loss of $2.5 million, or $0.31 per share, in Q3 2024[10] - GAAP net loss for Q3 2025 was $3,405,000 compared to a loss of $2,497,000 in Q3 2024, representing an increase in loss of approximately 36.3%[28] - Adjusted EBITDA net loss for Q3 2025 was $2,043,000, slightly improved from a loss of $2,066,000 in Q3 2024[28] - For the nine months ended September 30, 2025, GAAP net loss was $10,931,000, compared to $8,658,000 for the same period in 2024, indicating a 26.2% increase in loss[28] Cash Position - Total cash as of September 30, 2025, was $13.2 million, an increase from $12.2 million at the end of 2024[14] Other Financial Metrics - Interest and other income for Q3 2025 was $146,000, compared to an expense of $154,000 in Q3 2024[28] - The company recorded a reserve for bad debt charge of $548,000 for the nine months ended September 30, 2025, which was not present in the previous year[28] - The company emphasizes the limitations of non-GAAP measures and recommends considering them alongside GAAP-based financial performance metrics[29]