electroCore Announces Second Quarter 2025 Financial Results

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]