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NRXS

NeurAxis, Inc.

NRXS

NeurAxis, Inc. • NASDAQ
$2.78 ▲ 4.12% (+0.11)
Market Cap $29.61 M
52w High $6.20
52w Low $1.33
Dividend Yield 0%
P/E -2.81
Volume 29.04K
Outstanding Shares 10.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $811.414K ▼ $2.776M ▲ $-2.123M ▼ -261.617% ▼ $-0.24 ▼ $-2.077M ▼
Q2-2025 $894.086K ▼ $2.465M ▼ $-1.69M ▲ -189.067% ▲ $-0.22 ▲ $-1.664M ▲
Q1-2025 $895.655K ▲ $3.051M ▲ $-2.279M ▼ -254.415% ▼ $-0.33 ▼ $-2.27M ▼
Q4-2024 $761.165K ▲ $2.123M ▼ $-1.448M ▲ -190.222% ▲ $-0.24 ▲ $-1.439M ▲
Q3-2024 $666.625K $2.221M $-1.755M -263.302% $-0.25 $-1.64M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4.377M ▼ $5.776M ▼ $3.491M ▲ $2.285M ▼
Q2-2025 $5.988M ▲ $7.088M ▲ $2.835M ▲ $4.253M ▲
Q1-2025 $2.005M ▼ $3.03M ▼ $2.771M ▲ $258.479K ▼
Q4-2024 $3.697M ▲ $4.758M ▲ $2.69M ▼ $2.068M ▲
Q3-2024 $260.884K $1.143M $2.937M $-1.794M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.123M ▼ $-1.428M ▲ $0 ▲ $-183.808K ▼ $-1.611M ▼ $-1.428M ▲
Q2-2025 $-1.69M ▲ $-1.467M ▲ $-7.288K ▲ $5.458M ▲ $3.983M ▲ $-1.475M ▲
Q1-2025 $-2.279M ▼ $-1.604M ▲ $-18K ▼ $-69.845K ▼ $-1.692M ▼ $-1.622M ▲
Q4-2024 $-1.448M ▲ $-1.758M ▼ $0 ▲ $5.194M ▲ $3.436M ▲ $-1.758M ▼
Q3-2024 $-1.755M $-1.393M $-4.368K $-107.219K $-1.504M $-1.397M

Five-Year Company Overview

Income Statement

Income Statement The financials show a very early‑stage company with essentially no recorded revenue over the past several years and consistent losses. This suggests NeurAxis is still in the build‑out and validation phase, not yet at meaningful commercial scale. Earnings per share are negative and have become more negative recently, which likely reflects ongoing spending on operations, clinical work, and go‑to‑market efforts after the IPO. Overall, this is a classic pre- or very early‑revenue medtech profile: the story is about future potential rather than current profitability. Balance_sheet The balance sheet data provided look more like placeholders than full, reliable figures, so any detailed conclusion would be speculative. Conceptually, as a young, loss‑making medical device company, NeurAxis is likely to have a relatively thin capital base, limited tangible assets, and a strong reliance on equity financing and possibly smaller-scale credit facilities. That structure is normal for a company at this stage but also means sensitivity to capital market conditions and potential dilution if additional funding is needed. Cash_flow The available cash flow figures show modest but consistently negative operating cash flow and essentially no capital spending. This fits an asset‑light, development‑focused business where most cash use is for people, clinical work, regulatory processes, and commercialization, rather than heavy equipment or factories. The company appears to be burning cash rather than generating it, so its runway will depend on the cash it has raised and its ability to access additional funding until product revenue can support operations. Competitive_position NeurAxis is trying to build a niche leadership position in neuromodulation for gut‑brain disorders, with IB‑Stim as a flagship device. It benefits from being first in its specific indications, with FDA clearances in pediatric IBS and, more recently, adult functional dyspepsia, plus a growing base of clinical evidence. A key strength is the combination of regulatory approvals, patents stretching well into the future, and an upcoming permanent billing code that should make reimbursement easier and more predictable. The flip side is that NeurAxis is small and resource‑constrained compared with large medical device and pharma companies that could eventually target similar conditions. Adoption, physician education, and payer coverage are all execution challenges that will determine how strong this competitive position becomes in practice. Innovation_and_R&D Innovation is clearly the core of the NeurAxis story. The PENFS platform and IB‑Stim device offer a non‑drug, minimally invasive approach for conditions with few good options, which is a meaningful differentiator. The company has built a sizable clinical evidence base and is pushing to expand indications into more pediatric and adult gastrointestinal and neurogastroenterology conditions. The new RED diagnostic device broadens the offering within GI, creating potential cross‑selling opportunities. All of this reflects a focused, platform‑style R&D strategy around the gut‑brain axis. The main risks are the cost and time required to run additional studies, secure further approvals, and translate those into real-world adoption and reimbursement; none of that is guaranteed. Summary NeurAxis is an early‑stage, loss‑making medtech company whose current financials are weak but typical for its stage, with little to no revenue and continuing cash burn. The investment case centers almost entirely on its technology and regulatory progress: a first‑of‑its‑kind neuromodulation platform in GI disorders, meaningful FDA clearances, growing clinical support, and an important reimbursement code on the horizon. If the company can convert these scientific and regulatory assets into broad physician uptake and stable insurance coverage, its financial profile could change significantly over time. Until then, it remains a small, specialized, high‑uncertainty healthcare innovator, heavily dependent on execution, reimbursement wins, and access to capital.

Balance Sheet

Balance Sheet The balance sheet data provided look more like placeholders than full, reliable figures, so any detailed conclusion would be speculative. Conceptually, as a young, loss‑making medical device company, NeurAxis is likely to have a relatively thin capital base, limited tangible assets, and a strong reliance on equity financing and possibly smaller-scale credit facilities. That structure is normal for a company at this stage but also means sensitivity to capital market conditions and potential dilution if additional funding is needed.

Cash Flow

Cash Flow The available cash flow figures show modest but consistently negative operating cash flow and essentially no capital spending. This fits an asset‑light, development‑focused business where most cash use is for people, clinical work, regulatory processes, and commercialization, rather than heavy equipment or factories. The company appears to be burning cash rather than generating it, so its runway will depend on the cash it has raised and its ability to access additional funding until product revenue can support operations.

Competitive Edge

Competitive Edge NeurAxis is trying to build a niche leadership position in neuromodulation for gut‑brain disorders, with IB‑Stim as a flagship device. It benefits from being first in its specific indications, with FDA clearances in pediatric IBS and, more recently, adult functional dyspepsia, plus a growing base of clinical evidence. A key strength is the combination of regulatory approvals, patents stretching well into the future, and an upcoming permanent billing code that should make reimbursement easier and more predictable. The flip side is that NeurAxis is small and resource‑constrained compared with large medical device and pharma companies that could eventually target similar conditions. Adoption, physician education, and payer coverage are all execution challenges that will determine how strong this competitive position becomes in practice.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of the NeurAxis story. The PENFS platform and IB‑Stim device offer a non‑drug, minimally invasive approach for conditions with few good options, which is a meaningful differentiator. The company has built a sizable clinical evidence base and is pushing to expand indications into more pediatric and adult gastrointestinal and neurogastroenterology conditions. The new RED diagnostic device broadens the offering within GI, creating potential cross‑selling opportunities. All of this reflects a focused, platform‑style R&D strategy around the gut‑brain axis. The main risks are the cost and time required to run additional studies, secure further approvals, and translate those into real-world adoption and reimbursement; none of that is guaranteed.

Summary

NeurAxis is an early‑stage, loss‑making medtech company whose current financials are weak but typical for its stage, with little to no revenue and continuing cash burn. The investment case centers almost entirely on its technology and regulatory progress: a first‑of‑its‑kind neuromodulation platform in GI disorders, meaningful FDA clearances, growing clinical support, and an important reimbursement code on the horizon. If the company can convert these scientific and regulatory assets into broad physician uptake and stable insurance coverage, its financial profile could change significantly over time. Until then, it remains a small, specialized, high‑uncertainty healthcare innovator, heavily dependent on execution, reimbursement wins, and access to capital.

NEWS

November 11, 2025 · 7:00 AM UTC

NeurAxis Reports Strong Third Quarter 2025 Financial Results Driven by a 22% Growth in Revenues

Read more