A Bioelectronic Medicine & Wellness Company Nasdaq: ECOR Corporate Presentation March 2026 Forward Looking Statements In addition to historical information, this presentation may contain forward-looking statements with respect to our business, capital resources, strategy and growth, reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks, unce ...

Revenue growth of 27% for full year 2025 was driven by continued penetration of the VA hospital system and a 93% surge in Truvaga wellness sales. The VA channel remains the primary revenue driver, currently reaching approximately 13,400 patients, which management estimates is only 2% of the addressable VA headache market. Strategic shift in the direct-to-consumer segment toward the company's own e-commerce site improved Return on Advertising Spend (ROAS) to $2.10 in Q4. The acquisition of Quell asse ...

I'm confident the leadership team will continue building on the progress we've made and drive the company forward in the next phase of growth. It's been an honor to lead this organization and serve you, our shareholders. Thank you for your unwavering support. I look forward to watching electroCore thrive [indiscernible] Now the Chairman, Dr. Errico like to share a few thoughts on strategy and [indiscernible]With that foundation now in place, the Board and I believe this is the right time to begin a leadersh ...

Financial Data and Key Metrics Changes - Revenue for Q4 2025 reached a record $9.2 million, up 31% year-over-year, bringing full year 2025 revenue to $32 million, a 27% increase over 2024 [14][18] - Prescription device revenue increased 23% year-over-year to $26 million, driven by growth in gammaCore and Quell products [14][18] - Net loss for 2025 was $14 million or $1.65 per share, compared to a net loss of $11.9 million or $1.59 per share in 2024 [21][22] Business Line Data and Key Metrics Changes - VA hospital system remains the largest customer, with 200 facilities purchasing gammaCore products, up from 170 a year ago [14][15] - General wellness revenue reached $5.5 million for the full year, a 97% increase compared to 2024, primarily driven by Truvaga sales [15][16] - Truvaga sales increased by 93% from 2024, totaling $5.4 million [16] Market Data and Key Metrics Changes - Approximately 13,400 VA patients received gammaCore devices, representing roughly 2% penetration of the addressable VA headache market [15] - NHS England remains a key channel for international sales, with ongoing efforts to develop infrastructure for reimbursement in other countries [38] Company Strategy and Development Direction - The company is focused on increasing sales within the VA system and expanding into general wellness with the Truvaga product [8][12] - A leadership transition is underway, with Joshua Lev appointed as Interim President and Michael Fox joining as Chief Operating Officer to enhance commercial efforts [5][8] - The company aims to introduce additional wellness offerings and a next-generation mobile application to support recurring revenue opportunities [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for sustained revenue acceleration and long-term value creation [12][23] - The leadership transition is seen as an opportunity to maintain operational momentum while focusing on growth strategies [6][7] - The company expects 2026 revenue to continue growing at approximately 30% [23] Other Important Information - Gross margin improved to 87% compared to 85% in 2024 [18] - Research and development expenses increased to $2.7 million, primarily for gammaCore Emerald and mobile application development [19] Q&A Session Summary Question: Can you discuss the channels for gammaCore and Quell in 2026? - Management highlighted the growth in the VA channel and the addition of commercial leaders to accelerate growth [30][31] Question: What about the OUS channels and specific geographies? - NHS England remains the primary focus for international revenue, with ongoing efforts to develop reimbursement pathways in other countries [35][38] Question: Will Michael Fox focus on the VA business while Joshua handles wellness? - Michael will oversee broader commercial strategies, including VA and other federal systems, while Joshua will manage wellness products [44][45] Question: Any updates on insurance reimbursement coverage? - The company is focused on Kaiser as a key opportunity for broader reimbursement adoption, with plans to leverage success for additional managed care systems [58][59]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 reached a record $9.2 million, up 31% year-over-year, bringing full year 2025 revenue to $32 million, a 27% increase over 2024 [14][18] - Prescription device revenue increased 23% year-over-year to $26 million, driven by growth in gammaCore and Quell products [14][18] - Net loss for 2025 was $14 million or $1.65 per share, compared to a net loss of $11.9 million or $1.59 per share in 2024 [21][22] Business Line Data and Key Metrics Changes - VA hospital system remains the largest customer, with 200 facilities purchasing gammaCore products, up from 170 a year ago [14][15] - General wellness revenue for Q4 reached $1.4 million, representing 31% year-over-year growth, with full year revenue totaling $5.5 million, a 97% increase compared to 2024 [15][16] Market Data and Key Metrics Changes - Approximately 13,400 VA patients received gammaCore devices, representing roughly 2% penetration of the addressable VA headache market [15] - The company is expanding its VA sales presence by adding internal team members and contracted representatives [15] Company Strategy and Development Direction - The company is focused on increasing sales within covered entities such as the VA system and expanding into general wellness with the Truvaga product [8][12] - A leadership transition is underway, with Joshua Lev appointed as interim president and Michael Fox joining as Chief Operating Officer to enhance commercial efforts [5][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for sustained revenue acceleration and long-term value creation, emphasizing the importance of operational efficiency [12][23] - The company expects full year 2026 revenue to continue growing at approximately 30%, although detailed guidance is not being issued at this time due to the leadership transition [23] Other Important Information - The company is investing in people, marketing, and product development to accelerate growth while maintaining discipline around operating efficiency [17][23] - The Quell Relief product is expected to launch in the first half of 2026, with revenue from this product considered incremental to existing guidance [52] Q&A Session Summary Question: Can you talk about the channels, VA and DTC for both gammaCore and Quell? - Management highlighted the acceleration in the VA channel and the addition of new commercial leadership to drive growth [30][31] Question: Can you discuss OUS channels and expectations for 2026? - The NHS in England remains a key focus for OUS revenue, with ongoing efforts to develop infrastructure in other countries [34][38] Question: Will Michael focus primarily on the VA business while Joshua handles wellness and ex-VA? - Yes, Michael will focus on commercial growth across various channels, while Joshua will manage wellness products [44][45] Question: Is there any adjustment to VA contracts with the onboarding of Michael? - Current VA contracts are expected to remain unchanged, but opportunities for efficiency improvements may be explored [47] Question: Will there be a de-emphasis on the TAC-STIM product after Dan's departure? - No, there is still a robust pipeline for TAC-STIM, and Michael's experience may help accelerate revenue opportunities [49] Question: Will Quell Relief be sold into VA/DOD channels or general wellness? - Quell Relief is an over-the-counter product expected to launch in the first half of 2026, with revenue considered incremental to guidance [52] Question: What are the updates on insurance reimbursement coverage? - The company has made progress with Kaiser, which is seen as a significant opportunity for broader reimbursement adoption [56][58]

electroCore (NasdaqCM:ECOR) Q4 2025 Earnings call March 19, 2026 04:30 PM ET Speaker5Greetings, and welcome to the electroCore fourth quarter and full year 2025 earnings conference call. At this time, all participants have been placed in a listen-only mode. Please make sure to mute yourself. Question and answer session will follow the formal presentation. A reminder, this conference call is being recorded. Earlier today, electroCore published results for the fourth quarter and full year ended December 31, 2 ...

Core Insights - electroCore, Inc. announced the publication of a peer-reviewed paper demonstrating the effectiveness of its TAC-STIM™ device in enhancing mood, task performance, and learning in high-stress military training environments [1][2] Study Findings - The study involved 70 active-duty Air Force trainees, who were randomly assigned to receive either tVNS or a sham device during intensive Military Qualification Training [8] - tVNS users reported significantly reduced stress and distress, greater energy, and perceived skill improvements compared to the control group, with p-values indicating statistical significance (p<0.001 for distress, p=0.020 for perceived ability, p=0.002 for energy) [8] - Objective performance gains were observed in intelligence product quality and mission task execution, with tVNS users excelling in real-time operational scenarios [8] Product Positioning - TAC-STIM is positioned as a neuroenhancement tool specifically designed for defense and security applications, with potential for consumer wellness, workplace productivity, and educational markets [5] - The technology aligns with the growing demand for cognitive augmentation tools in civilian domains, including executive training, sports, and healthcare [5] Company Overview - electroCore, Inc. focuses on improving health and quality of life through innovative non-invasive bioelectronic technologies, with leading products including gammaCore and Quell for chronic pain treatment [6] - The company also commercializes handheld products like Truvaga™ and TAC-STIM for general wellness and human performance [6]

Financial Data and Key Metrics Changes - In Q3 2025, revenue reached a record $8.7 million, up 33% year over year and 18% sequentially [17] - Gross margins improved to 86%, up from 84% in the previous year [17] - GAAP net loss was $3.4 million, or a loss of $0.40 per share, compared to a net loss of $2.5 million, or a loss of $0.31 per share in Q3 2024 [28] - Cash balance as of September 30, 2025, was approximately $13.2 million, compared to $12.2 million at the end of 2024 [29] Business Line Data and Key Metrics Changes - Prescription device revenue grew 19% year over year to $6.8 million, driven by gammaCore and Quell sales in the VA hospital system [17] - Health and wellness product revenue reached $1.9 million, a 54% increase sequentially and 121% year on year [18] - Truvaga revenue grew 18% sequentially and 79% year on year, excluding a one-time $500,000 order for a clinical trial [19] Market Data and Key Metrics Changes - As of September 30, 2025, 195 VA hospital facilities purchased prescription gammaCore products, up from 166 a year ago [17] - The VA hospital system remains the largest customer, with significant growth opportunities identified in the fibromyalgia patient segment [18] Company Strategy and Development Direction - The company is focusing on three strategic pivots: the Neurometrics acquisition, strengthening the VA channel, and developing the wellness division [9][10][11] - The acquisition of Neurometrics has exceeded revenue expectations and is integrated into the VA hospital channel [23] - The company aims to broaden its product range and diversify revenue streams to enhance long-term shareholder value [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in prioritizing growth over immediate profitability, with a revised timeline for achieving positive adjusted EBITDA in the second half of 2026 [22] - The company is navigating external macroeconomic challenges while maintaining a focus on expanding its market presence [11][12] Other Important Information - The company is facing a patent infringement dispute with a European company, which is currently in litigation [51] - A royalty-based arrangement has been established for commercialization in China, with no capital investment required from the company [13][43] Q&A Session Summary Question: Can you remind us what channels Neurometrics was selling into before the acquisition? - The prescription Quell for fibromyalgia was sold in four or five VA hospitals off contract through open market access prior to the acquisition [36] Question: Can you give us any further color on the $500,000 Truvaga sale for a clinical trial? - It's one clinical trial being run in long COVID subjects, and details are limited as it is investigator-initiated [36] Question: Talk about the next-gen mobile app that you're working on. - The next update of the app will be Truvaga Plus only and will not be set up to work with gammaCore or Quell [37] Question: What is being done to combat the copycat marketing vagus nerve stimulation devices? - The company is in litigation with a European company for patent infringement and is focusing on winning the case [51] Question: How meaningful is the market opportunity in China? - The Chinese investor plans to commercialize the technology in China as a prescription medical device, with royalties paid to the company [43]

Core Insights - electroCore, Inc. announced that its Truvaga™ Plus handheld vagus nerve stimulation device was named the "Best Relaxation Gadget" in Esquire's 2025 Sleep Awards, highlighting its effectiveness in promoting relaxation and restorative sleep [1][2] Company Overview - electroCore, Inc. is a commercial-stage bioelectronic technology company focused on improving health and quality of life through non-invasive bioelectronic technologies. Its leading products include gammaCore for chronic pain and Truvaga for general wellness [3][5] Product Details - Truvaga Plus is designed to activate the vagus nerve quickly and gently, promoting a balanced nervous system for improved calmness, clarity, and sleep. It is intended for general health and wellness and is not a medical device [5][6] - The device offers a drug-free alternative for relaxation and sleep, with sessions lasting just two minutes, making it convenient for daily use [8] Recognition and Validation - The recognition from Esquire serves as validation for Truvaga Plus, reinforcing consumer confidence in its effectiveness as a proven, non-drug solution for sleep and relaxation challenges [2][3]

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]