NASDAQ : NPCE
NeuroPace, Inc. — Financial statements
Healthcare · Medical Devices · United States
Last price 13.01 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 446.56M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
NeuroPace, Inc. (NPCE) reported revenue of 106.99M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 106.99M | 99.99M | 79.91M | 65.42M | 45.52M | 45.18M |
| Cost of Revenue | 24.20M | 22.77M | 20.82M | 17.30M | 13.03M | 11.75M |
| Gross Profit | 82.79M | 77.22M | 59.09M | 48.12M | 32.49M | 33.44M |
| Selling, General & Admin | 67.24M | 65.67M | 57.10M | 54.52M | 51.34M | 38.96M |
| Research & Development | 27.69M | 27.89M | 23.65M | 20.78M | 21.95M | 18.21M |
| Operating Expenses | 94.93M | 93.56M | 80.76M | 75.30M | 73.29M | 57.17M |
| Operating Income | -12.14M | -16.34M | -21.67M | -27.17M | -40.79M | -23.74M |
| Interest Expense | -6.30M | -7.46M | -8.80M | -8.52M | -7.53M | -7.41M |
| Interest & Investment Income | 2.39M | 2.82M | 3.02M | 3.05M | 1.58M | 448.00K |
| Other Non Operating Income (Expenses) | 335.00K | -27.00K | 75.00K | 19.00K | -5.38M | |
| EBT Excluding Unusual Items | -15.71M | -21.01M | -27.37M | -32.64M | -46.73M | -36.08M |
| Gain (Loss) on Sale of Investments | 41.00K | 41.00K | 229.00K | -315.00K | -356.00K | |
| Other Unusual Items | -500.00K | -500.00K | ||||
| Pretax Income | -16.17M | -21.46M | -27.14M | -32.96M | -47.08M | -36.08M |
| Net Income | -19.11M | -21.46M | -27.14M | -32.96M | -47.08M | -36.08M |
| Net Income to Common | -19.11M | -21.46M | -27.14M | -32.96M | -47.08M | -36.08M |
| Shares Outstanding (Basic) | 33.59M | 32.72M | 29.13M | 25.85M | 24.59M | 16.61M |
| Shares Outstanding (Diluted) | 33.59M | 32.72M | 29.13M | 25.85M | 24.59M | 16.61M |
| EPS (Basic) | -0.57 | -0.66 | -0.93 | -1.27 | -1.91 | -2.17 |
| EPS (Diluted) | -0.57 | -0.66 | -0.93 | -1.27 | -1.91 | -2.17 |
| Free Cash Flow | -11.61M | -11.34M | -18.25M | -19.87M | -37.47M | -24.96M |
| Free Cash Flow Per Share | -0.35 | -0.35 | -0.63 | -0.77 | -1.52 | -1.50 |
| Gross Margin | 77.38% | 77.23% | 73.94% | 73.56% | 71.38% | 74.00% |
| Operating Margin | -11.34% | -16.34% | -27.12% | -41.54% | -89.62% | -52.53% |
| Profit Margin | -17.87% | -21.47% | -33.97% | -50.38% | -103.43% | -79.85% |
| Free Cash Flow Margin | -10.85% | -11.34% | -22.85% | -30.38% | -82.32% | -55.24% |
| EBITDA | -11.88M | -16.10M | -21.46M | -27.00M | -40.53M | -23.44M |
| EBITDA Margin | -11.10% | -16.10% | -26.86% | -41.27% | -89.03% | -51.88% |
| D&A For EBITDA | 260.00K | 238.00K | 207.00K | 172.00K | 267.00K | 296.00K |
| EBIT | -12.14M | -16.34M | -21.67M | -27.17M | -40.79M | -23.74M |
| EBIT Margin | -11.34% | -16.34% | -27.12% | -41.54% | -89.62% | -52.53% |
| Advertising Expenses | 500.00K | 700.00K | 700.00K | 700.00K | 100.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 12.54M | 21.69M | 13.43M | 18.06M | 6.61M | 19.19M |
| Short-Term Investments | 39.16M | 39.37M | 39.33M | 48.40M | 70.80M | 96.40M |
| Cash & Short-Term Investments | 51.70M | 61.06M | 52.76M | 66.45M | 77.41M | 115.58M |
| Receivables | 14.93M | 14.68M | 12.85M | 12.31M | 7.48M | 7.09M |
| Inventory | 18.11M | 16.90M | 13.38M | 11.21M | 9.71M | 7.82M |
| Prepaid Expenses | 1.45M | 1.44M | 2.35M | 2.74M | 3.11M | 2.22M |
| Other Current Assets | 100.00K | |||||
| Total Current Assets | 86.19M | 94.07M | 81.34M | 92.72M | 97.71M | 132.82M |
| Property, Plant & Equipment | 10.46M | 11.26M | 12.89M | 14.41M | 15.90M | 603.00K |
| Long-Term Deferred Charges | 276.00K | 387.00K | 347.00K | |||
| Other Long-Term Assets | 339.00K | 235.00K | 137.00K | 137.00K | 143.00K | 143.00K |
| Total Assets | 96.99M | 105.56M | 94.65M | 107.65M | 114.11M | 133.56M |
| Accounts Payable | 4.20M | 2.22M | 2.95M | 2.33M | 2.15M | 1.38M |
| Accrued Expenses | 10.85M | 13.34M | 9.79M | 11.18M | 7.41M | 7.43M |
| Current Portion of Leases | 2.26M | 2.12M | 1.86M | 1.63M | 1.42M | |
| Current Unearned Revenue | 123.00K | 141.00K | 555.00K | 1.09M | ||
| Other Current Liabilities | 490.00K | |||||
| Total Current Liabilities | 17.43M | 17.81M | 15.16M | 16.23M | 10.98M | 9.30M |
| Long-Term Debt | 59.01M | 58.88M | 59.52M | 56.95M | 52.91M | 49.85M |
| Long-Term Leases | 8.66M | 9.84M | 11.95M | 13.81M | 15.44M | |
| Other Long-Term Liabilities | 911.00K | |||||
| Total Liabilities | 85.11M | 86.53M | 86.63M | 87.00M | 79.33M | 60.06M |
| Common Stock | 34.00K | 34.00K | 30.00K | 28.00K | 25.00K | 24.00K |
| Additional Paid-In Capital | 577.15M | 571.41M | 538.93M | 524.43M | 506.71M | 497.52M |
| Retained Earnings | -565.30M | -552.41M | -530.95M | -503.81M | -470.85M | -423.77M |
| Comprehensive Income & Other | -1.11M | -272.00K | ||||
| Total Common Equity | 11.88M | 19.03M | 8.01M | 20.65M | 34.78M | 73.50M |
| Shareholders' Equity | 11.88M | 19.03M | 8.01M | 20.65M | 34.78M | 73.50M |
| Total Liabilities & Equity | 96.99M | 105.56M | 94.65M | 107.65M | 114.11M | 133.56M |
| Total Debt | 69.93M | 70.84M | 73.34M | 72.39M | 69.77M | 49.85M |
| Net Cash (Debt) | -18.23M | -9.78M | -20.58M | -5.94M | 7.64M | 65.74M |
| Net Cash Per Share | -0.54 | -0.30 | -0.71 | -0.23 | 0.31 | 3.96 |
| Filing Date Shares Outstanding | 34.32M | 33.67M | 32.56M | 28.34M | 25.10M | 24.47M |
| Total Common Shares Outstanding | 34.28M | 33.57M | 30.15M | 27.82M | 25.05M | 24.45M |
| Working Capital | 68.76M | 76.26M | 66.18M | 76.49M | 86.74M | 123.52M |
| Book Value Per Share | 0.35 | 0.57 | 0.27 | 0.74 | 1.39 | 3.01 |
| Tangible Book Value | 11.88M | 19.03M | 8.01M | 20.65M | 34.78M | 73.50M |
| Tangible Book Value Per Share | 0.35 | 0.57 | 0.27 | 0.74 | 1.39 | 3.01 |
| Machinery | 7.14M | 6.90M | 6.59M | 6.34M | 7.39M | 6.66M |
| Leasehold Improvements | 2.44M | 2.44M | 2.44M | 2.43M | 2.40M | 2.40M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -19.11M | -21.46M | -27.14M | -32.96M | -47.08M | -36.08M |
| Depreciation & Amortization | 2.05M | 1.95M | 1.77M | 1.60M | 2.99M | 296.00K |
| Other Amortization | 271.00K | 237.00K | 228.00K | 283.00K | 258.00K | 267.00K |
| Loss (Gain) From Sale of Assets | 12.00K | 14.00K | ||||
| Loss (Gain) From Sale of Investments | 124.00K | -41.00K | -229.00K | 315.00K | 356.00K | |
| Stock-Based Compensation | 9.82M | 11.09M | 10.28M | 9.56M | 8.35M | 4.29M |
| Other Operating Activities | 515.00K | 1.22M | 2.59M | 3.98M | 3.05M | 6.28M |
| Change in Accounts Receivable | -1.38M | -1.83M | -536.00K | -4.85M | -391.00K | 1.30M |
| Change in Inventory | -1.98M | -3.67M | -2.42M | -1.70M | -2.13M | -1.16M |
| Change in Accounts Payable | -450.00K | -730.00K | 671.00K | 240.00K | 647.00K | 479.00K |
| Change in Unearned Revenue | -573.00K | -414.00K | -534.00K | 1.09M | ||
| Change in Other Net Operating Assets | -544.00K | 2.63M | -2.63M | 2.73M | -2.91M | -259.00K |
| Operating Cash Flow | -11.24M | -11.01M | -17.95M | -19.70M | -36.87M | -24.58M |
| Capital Expenditures | -369.00K | -332.00K | -306.00K | -173.00K | -603.00K | -384.00K |
| Investment in Securities | 9.30M | 23.20M | 24.40M | -85.01M | ||
| Investing Cash Flow | -369.00K | -332.00K | 8.99M | 23.03M | 23.80M | -85.40M |
| Long-Term Debt Issued | 58.44M | |||||
| Total Debt Issued | -133.00K | 58.44M | ||||
| Long-Term Debt Repaid | -60.51M | -4.09M | ||||
| Net Debt Issued (Repaid) | -133.00K | -2.07M | -4.09M | |||
| Issuance of Common Stock | 2.06M | 71.76M | 5.21M | 8.69M | 896.00K | 110.01M |
| Repurchase of Common Stock | -368.00K | -50.09M | -881.00K | -259.00K | -59.00K | |
| Other Financing Activities | -150.00K | -305.00K | -347.00K | -3.39M | ||
| Financing Cash Flow | 1.41M | 19.60M | 4.33M | 8.13M | 490.00K | 102.53M |
| Net Cash Flow | -10.20M | 8.26M | -4.63M | 11.45M | -12.58M | -7.45M |
| Free Cash Flow | -11.61M | -11.34M | -18.25M | -19.87M | -37.47M | -24.96M |
| Free Cash Flow Margin | -10.85% | -11.34% | -22.85% | -30.38% | -82.32% | -55.24% |
| Free Cash Flow Per Share | -0.35 | -0.35 | -0.63 | -0.77 | -1.52 | -1.50 |
| Levered Free Cash Flow | -2.63M | -3.96M | -10.70M | -11.95M | -22.02M | -14.00M |
| Unlevered Free Cash Flow | 1.04M | 463.75K | -5.42M | -6.91M | -17.58M | -9.64M |
| Cash Interest Paid | 5.71M | 6.20M | 6.23M | 4.48M | 4.46M | 6.34M |
| Change in Working Capital | -4.92M | -4.01M | -5.45M | -2.48M | -4.79M | 368.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 428.02M | 514.27M | 334.00M | 270.98M | 37.11M | 245.09M |
| Enterprise Value | 446.26M | 525.44M | 350.67M | 281.33M | 20.03M | 171.33M |
| Last Close Price | 12.30 | 15.44 | 11.19 | 10.31 | 1.49 | 10.08 |
| PS Ratio | 4.07 | 5.14 | 4.18 | 4.14 | 0.81 | 5.42 |
| PB Ratio | 35.49 | 27.02 | 41.68 | 13.12 | 1.07 | 3.33 |
| P/TBV Ratio | 36.66 | 27.02 | 41.68 | 13.12 | 1.07 | 3.33 |
| EV/Sales Ratio | 4.24 | 5.25 | 4.39 | 4.30 | 0.44 | 3.79 |
| Debt / Equity Ratio | 5.88 | 3.72 | 9.15 | 3.50 | 2.01 | 0.68 |
| Net Debt / Equity Ratio | 1.53 | 0.51 | 2.57 | 0.29 | -0.22 | -0.89 |
| Net Debt / EBITDA Ratio | -1.53 | -0.61 | -0.96 | -0.22 | 0.19 | 2.80 |
| Net Debt / FCF Ratio | -1.57 | -0.86 | -1.13 | -0.30 | 0.20 | 2.63 |
| Asset Turnover | 1.05 | 1.00 | 0.79 | 0.59 | 0.37 | 0.48 |
| Inventory Turnover | 1.41 | 1.50 | 1.69 | 1.65 | 1.49 | 1.59 |
| Quick Ratio | 3.82 | 4.25 | 4.33 | 4.85 | 7.73 | 13.19 |
| Current Ratio | 4.94 | 5.28 | 5.37 | 5.71 | 8.90 | 14.28 |
| Return on Equity (ROE) | -103.27% | -158.74% | -189.35% | -118.91% | -86.96% | -106.96% |
| Return on Assets (ROA) | -7.47% | -10.20% | -13.39% | -15.32% | -20.59% | -15.66% |
| Return on Capital Employed (ROCE) | -15.30% | -18.60% | -27.30% | -29.70% | -39.60% | -19.10% |
| Earnings Yield | -4.56% | -4.17% | -8.13% | -12.16% | -126.89% | -14.72% |
| FCF Yield | -2.67% | -2.21% | -5.47% | -7.33% | -100.99% | -10.18% |
| Buyback Yield / Dilution | -8.60% | -12.35% | -12.67% | -5.11% | -48.08% | -8,038.86% |