Why did NRXS miss Q3 earnings forecasts so badly?

NeurAxis (NRXS) did not miss the Q3 earnings forecasts significantly. On the contrary, the company reported strong Q3 earnings with significant growth:

1. **Revenue Growth**: NeurAxis reported a 39.6% year-over-year increase in revenues for Q3 2024, reaching $0.7 million. This growth was driven by a 40% increase in unit sales of IB-Stim, the company's flagship device.
2. **Gross Profit Growth**: Gross profit grew by 38.9% year-over-year to $0.6 million in Q3 2024.
3. **Operating Loss Improvement**: The company significantly improved its operating loss, reducing it from $3 million in Q3 2023 to $1.7 million in Q3 2024.
4. **Net Loss Reduction**: NeurAxis reduced its net loss substantially, from $8.6 million in Q3 2023 to $1.8 million in Q3 2024. This represents a 78.9% reduction in net losses.
5. **Cash Position**: As of September 30, 2024, NeurAxis had a cash reserve of approximately $1.8 million.

NeurAxis' Q3 2024 earnings report reflects the company's strategic focus on expanding insurance coverage and market reach, which has positively impacted its financial performance. The significant year-over-year improvements in revenues, gross profits, and net losses demonstrate the company's strong operational progress and ability to capitalize on market opportunities.