What is the market's earnings forecast for Neuraxis next quarter?

What is the revenue and EPS growth rate for Neuraxis year over year?

What does Neuraxis do and what are its main business segments?

What guidance did Neuraxis's management provide for the next earnings period?

What is Neuraxis's gross profit margin?

What were the key takeaways from Neuraxis’s earnings call?

What factors drove the changes in Neuraxis's revenue and profit?

What is Neuraxis's latest dividend and current dividend yield?

- **Revenue Surge**: Q4 2025 revenue up 27% YoY, Q1 2026 outperforms expectations with 35% unit growth.
- **Strategic Milestones**: Category 1 CPT code adoption drives 10x prior auth submissions, 45M covered lives secured.
- **Operational Efficiency**: Gross margin stabilization expected in 2026, operating expenses growing at half the revenue pace.
- **Adult Market Breakthrough**: Cleveland Clinic RCT underway, VA utilization surpassing expectations.
- **Liquidity Strength**: $6M+ cash, no near-term financing needs.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 2025 revenue reached $968,000, up 27% YoY, driven by a 35% increase in unit deliveries. Q1 2026 revenue exceeded expectations, with strong performance from children's hospitals with full reimbursement coverage and dedicated IB-Stim clinic time.
- **Commercial Strategy**: Shifted focus to execution post-Category 1 CPT code implementation. Key drivers include written medical policy coverage, physician champions, and weekly IB-Stim clinic slots. Expansion of commercial footprint and prior authorization (PA) team is underway.
- **Payer Progress**: Secured 45 million covered lives under a major national health insurer, eliminating PA requirements for eligible patients. Additional payer negotiations are ongoing, with a focus on closing gaps in policy coverage.
- **Adult Market**: Launched a randomized controlled trial (RCT) at the Cleveland Clinic for adult functional dyspepsia. VA contract utilization is growing, with orders and reorders exceeding initial expectations.
- **Operational Strength**: Strong financial fundamentals, including higher-margin full reimbursement sales and reduced reliance on discounted programs.

**【CFO Financial Commentary】**
- **Revenue & Growth**: FY2025 revenue $3.6M (+33% YoY), Q4 2025 gross margin 85.4% (vs. 86.4% Q4 2024), impacted by RED device lower margins and inventory reserves.
- **Operating Expenses**: Q4 2025 total expenses $2.5M (+20% YoY), driven by sales commissions (+31%), R&D (+15%), and G&A (+17%). FY2025 operating loss $7.8M (-5% YoY) due to higher sales and reduced one-time costs.
- **Liquidity**: Cash $5M as of Q4 2025, with $2.6M raised in Q1 2026 via ATM, bringing total liquidity to $6M. Free cash flow $2M Q4 2025, supporting Q1 2026 inventory build.

**【Q&A Highlights】**
- **Prior Auth Rates**: Q1 2026 PA submissions up 10x YoY, with approval rates improving as payers adopt Category 1 code. Key payer coverage eliminates PA requirements for 25% of patients at top accounts.
- **Commercial Hiring**: Aggressively expanding sales, MSLs, and digital marketing teams to cover 50-100+ children's hospitals. VA and adult programs will be integrated into national sales strategy.
- **Adult Trial Progress**: Cleveland Clinic RCT enrollment on track, with potential to secure adult payer coverage by 2027. VA adoption accelerating, with reorders indicating strong clinical demand.
- **Market Expansion**: Exploring cyclic vomiting syndrome (CVS) and post-surgical pain indications, with RCTs expected to report in 18-24 months.

NeurAxis, Inc. (NRXS) Q4 2025 Earnings Call Transcript

- **Revenue Momentum**: 22% YoY growth in Q3 2025, driven by pediatric market expansion and FDA adult indication.
- **CPT Code Inflection**: New Category 1 CPT code effective Jan 1, 2026, with work RVUs to incentivize physician adoption.
- **Adult Market Strategy**: RCT in adults, VA contract pursuit, and private testing to diversify revenue streams.
- **Financial Health**: $4.4M cash on hand, $1.5M quarterly burn rate, positioning for 2026 adoption acceleration.
- **Key Risk**: RED reimbursement uncertainty pending CPT code clarity post-January 2026.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue of $811,000, up 22% YoY, marking the fifth consecutive quarter of double-digit growth. Growth driven by expanded FDA indication for adults and pediatric market penetration.
- **CPT Code Milestone**: New Category 1 CPT code effective January 1, 2026, introducing work RVUs and streamlined reimbursement, expected to accelerate adoption in children's hospitals.
- **Adult Market Strategy**: Three-pronged approach includes RCT in adults, VA contract pursuit, and private market testing. FDA clearance based on pediatric extrapolation limits immediate coverage but sets foundation for future growth.
- **RED Product Update**: Soft launch continues with focus on VA integration. Reimbursement clarity pending new CPT code details post-January 2026.

**【CFO Financial Commentary】**
- **Financial Highlights**: Q3 2025 gross margin 83.3% (down 2.1% YoY due to financial assistance program discounts and RED inventory charges). Operating expenses $2.8M (25% YoY increase), driven by sales commissions (+125%) and R&D investments (+18% YoY).
- **Liquidity**: $4.4M cash on hand as of Q3, with $2.8M raised in October via ATM and warrant exercises. Free cash flow burn rate maintained at $1.5M per quarter.
- **2026 Outlook**: Anticipated transition to full reimbursement with Category 1 CPT code, targeting cash flow breakeven as adoption accelerates.

**【Q&A Key Highlights】**
- **Commercial Team Incentivization**: Sales reps highly motivated by commission structures and prioritization of high-policy-coverage states. Forecast accuracy within $50K YoY reflects deep account knowledge.
- **Payer Engagement**: Constructive dialogue with top payers, leveraging clinical evidence and policy coalitions. Expect gradual policy changes as Category 1 code implementation begins.
- **2026 Investment Plan**: Increased marketing spend targeting payers and R&D for adult indications. Contingent on adoption pace, plans to expand salesforce or marketing efforts post-Q1 2026 results.
- **RED Reimbursement Uncertainty**: CPT code changes may impact RED economics; VA integration and private market testing continue amid reimbursement clarity delays.


NeurAxis, Inc. (NRXS) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 2025 revenue $894K (+46% YoY), driven by FDA expansion to 8-21 age range and 53M covered lives under policy.
- **CPT Code Milestone**: 1.46 RVUs and Medicare reimbursement > device cost set for Jan 1, 2026 launch.
- **Insurance Barrier**: 70% prior auth denials, 30% split between full price ($1,195) and PAP (avg $850 at 65% discount).
- **Gross Margin Recovery**: 2026 shift to full-price sales as 53M covered lives expand to 175M+ with CPT code.
- **Liquidity**: $6M cash post $5M raise; 2026 operations funded at current burn rate.
- **FDA Expansion**: Functional dyspepsia indication doubles addressable market with same CPT code and salesforce.
- **Adult IND**: FDA response expected Q4 2025; 12 payers agreed to interim reviews post guidelines.
- **Reimbursement**: Medicare reimbursement > device cost; 1.46 RVUs align physician incentives.


**【CEO Summary Section】**
- Q2 2025 revenue grew 46% YoY to $894,000, driven by IB-Stim adoption and FDA indication expansion for functional dyspepsia with nausea (8-21 age range). 
- Achieved 53 million covered lives under medical policy, up from 45 million Q1, with 12 key payers covering 175-185M lives.
- Category I CPT code (effective Jan 1, 2026) includes 1.46 RVUs per placement and Medicare reimbursement above device cost.
- 70% of prior authorizations result in 'no authorization required', leaving 30% for full price ($1,195) or PAP (avg $850 ASP at 65% discount).
- RED soft launch progressing with strong reimbursement via existing CPT code, targeting hard launch in 2026.
- Gross margin expected to recover in 2026 as insurance coverage shifts from 30% (Q2) to 100%+ post-CPT code.

**【CFO Financial Commentary】**
- Q2 2025: 
  - Revenue: $894K (+46% YoY)
  - Gross margin: 83.6% (-440bps YoY due to PAP discounts)
  - Op loss: $1.7M (-22% YoY)
  - Cash: $6M (after $5M equity raise + $1M warrant exercise)
- 6mo 2025: 
  - Revenue: $1.8M (+42% YoY)
  - Gross margin: 84% (-420bps YoY)
  - Op loss: $4M (-21% YoY)
- Operating expenses down 10% YoY (Q2) due to cost control, despite +128% selling expenses for sales growth.
- Expect $1.5M quarterly cash burn, sufficient for 2026 operations.

**【Q&A Highlights】**
- **Insurance Progress**: 12 key payers agreed to interim reviews post guidelines; 175M lives under policy coverage. 9% prior auth approval rate vs. 70% 'no auth required' barrier.
- **Sales Strategy**: Parallel expansion of prior auth team and marketing via KOLs, virtual meetings, and academic events. No immediate salesforce expansion; focus on utilization through IB-Stim clinic days.
- **Reimbursement**: Medicare reimbursement > device cost; 1.46 RVUs aligns physician incentives with treatment volume.
- **Adult IND**: FDA response expected Q4 2025; functional dyspepsia indication doubles addressable market with same CPT code and salesforce.
- **Gross Margin Recovery**: 2026 shift to full-price sales as 53M covered lives expand to 175M+ with CPT code.
- **Liquidity**: $6M cash with $5M equity raise; no debt. Current burn rate supports 2026 operations, may extend with policy wins.


NeurAxis, Inc. (NRXS) Q2 2025 Earnings Call Transcript

- **Revenue Surge**: Q1 2025 revenue up 39% YoY to $896K, fueled by 46% unit sales growth.
- **Insurance Momentum**: 51 million covered lives vs. 4 million a year ago, with 130 Q1 patients via Assistance Program.
- **FDA Breakthrough**: RED device cleared for adult use; IB-Stim label expanded to 8-21 years.
- **Code & Guidelines**: Category I CPT code effective Jan 2026; NASPGHAN guidelines expected mid-May to drive policy adoption.
- **Legal Resolution**: $750K settlement in 2026, ending 2019 litigation and clearing future risk.

**【CEO Summary Section】**
- **Revenue Growth**: Q1 2025 revenue of $896,000, up 39% YoY, driven by 46% unit sales growth from full insurance reimbursement and financial assistance programs.
- **Insurance Expansion**: Covered lives increased from 4 million to 51 million, with 130 patients utilizing the Patient Assistance Program in Q1.
- **FDA Milestones**: FDA clearance for RED device in December 2024, targeting adult chronic constipation, and expanded IB-Stim label for 8-21 year olds.
- **Key Catalysts**: Category I CPT code effective Jan 1, 2026, and pending NASPGHAN guidelines expected to accelerate adoption.

**【CFO Financial Commentary】**
- **Gross Margin**: 84.4% in Q1, down 400bps YoY due to higher discounted sales and manufacturing costs.
- **Operating Expenses**: $3.1 million (27% YoY increase), driven by one-time legal settlement ($750K) and R&D/SG&A investments.
- **Liquidity**: $2 million cash on hand, with no long-term debt.
- **Breakeven Path**: Projected cash flow breakeven as insurance coverage expands and full-price sales increase post-CPT code.

**【Q&A Highlights】**
- **Guidelines Timeline**: NASPGHAN guidelines expected to publish by end of May 2025, with payer policy updates anticipated within 90-120 days.
- **RED Soft Launch**: Strong physician interest at Digestive Disease Week, with commercial execution key to adoption.
- **Legal Settlement**: $750K paid in 2026, resolving 2019 litigation and reducing future risk exposure.

NeurAxis (NRXS)-12 May 25-2025 Q1 Earnings call transcript

- **Revenue Surge**: Q4 2024 revenue up 43% YoY to $761K, fueled by IB-Stim adoption and FDA expansion to 8-21 years.
- **2026 Catalysts**: Category 1 CPT code (Jan 2026) and pending NASPGHAN guidelines set stage for exponential growth.
- **RED Opportunity**: FDA-cleared device with existing reimbursement; first orders booked in Q1 2025.
- **Margin Outlook**: 2026+ gross margin expansion as discounted sales transition to full reimbursement.
- **Breakeven Path**: Target $10-12M annual revenue to achieve cash flow breakeven.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 2024 revenue of $761,000, up 43% YoY, driven by IB-Stim adoption and expanded FDA indication for ages 8-21 (vs. 11-18). Total covered lives reached 51 million, up from 4 million in 2023.
- **Key Milestones**: 
  - FDA clearance for RED (Rectal Expulsion Device) in Q4 2024, with first orders booked in Q1 2025.
  - Category 1 CPT code for IB-Stim effective Jan 1, 2026, enabling RVU-based physician reimbursement.
  - NASPGHAN guidelines pending publication, expected to accelerate insurance coverage.
- **2025 Outlook**: Target cash flow breakeven as insurance coverage expands and Category 1 code drives full reimbursement. RED launch expected to add incremental revenue streams.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: 
  - Revenue: $761,000 (43% YoY growth)
  - Gross Margin: 86.4% (stable vs. Q4 2023)
  - Operating Loss: $1.5M (10% improvement YoY)
  - Net Loss: $1.5M (73% YoY decline)
- **FY 2024 Highlights**: 
  - Total Revenue: $2.7M (9% YoY growth)
  - Operating Loss: $7.2M (7% YoY increase)
  - Net Loss: $8.2M (45% YoY decline)
  - Cash on hand: $3.7M
- **Gross Margin Dynamics**: 65% discounts via financial assistance program weigh on near-term margins, but 2026+ Category 1 code transition to full reimbursement expected to boost margins.

**【Q&A Key Takeaways】**
- **Category 1 CPT Impact**: Physicians will receive RVUs for IB-Stim procedures, incentivizing adoption. 510(k) expansion to 8-21 years doubles addressable market.
- **RED Commercialization**: Soft launch underway, with Q2 2025 demand expected. Existing Category 1 code and Medicare reimbursement enable rapid scaling.
- **Breakeven Path**: Achievable at $10-12M annual revenue, driven by expanding insurance coverage and RED adoption.
- **Next-Gen IB-Stim**: Development underway, targeting 2026 launch with features like real-time feedback indicators.
- **Patient Retention**: 70%+ long-term relief reported, with minimal need for repeat treatments.

NeurAxis (NRXS)-20 Mar 25-2024 Q4 Earnings call transcript

**Revenue Growth Accelerates**: Q3 2024 revenue up 40% YoY to $667,000, driven by expanding insurance coverage and FDA age expansion for IB-Stim.
**Strategic Milestones Achieved**: Category 1 CPT code for IB-Stim and FDA submission for RED position NeurAxis for 2025 growth. 
**Liquidity Strengthened**: $5 million life sciences fund investment brings total 2024 capital raise to $11.2 million.
**2025 Outlook**: Targeting 50 million covered lives and cash flow breakeven, with RED expected to contribute ~$20 million in annualized revenue by end-2025.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2024 revenue increased 40% year-over-year to $667,000, driven by strong demand for IB-Stim and expanding insurance coverage. Units sold rose 50% YoY.
- **Strategic Milestones**: Received FDA clearance for age expansion (8-21 years) and a Category 1 CPT code for IB-Stim, enabling easier billing and reimbursement. RED (Rectal Expulsion Device) FDA submission is pending, with commercialization expected late 2024.
- **Future Outlook**: Cautiously optimistic about reaching 50 million covered lives by end-2024 and achieving cash flow breakeven in 2025. RED is projected to generate meaningful revenue in 2025.

**【CFO Financial Commentary】**
- **Financial Performance**: GAAP net loss narrowed to $1.8 million (Q3 2023: $8.6 million). Gross margin remained strong at 85.4%, though declined 50bps YoY due to higher financial assistance units.
- **Cost Control**: Operating expenses decreased 5% YoY to $1.7 million, benefiting from efficient headcount management. 
- **Liquidity**: Secured $5 million investment from a life sciences fund, bringing total 2024 capital raise to $11.2 million. Cash on hand as of Q3 2024 was $261,000.

**【Q&A Key Highlights】**
- **Insurance Coverage**: 35 million covered lives as of Q3, with potential to exceed 50 million by year-end if key payers finalize policy coverage.
- **RED Launch**: FDA clearance expected late Q4 2024, with soft launch targeting Q1 2025. RED's Category 1 CPT code and strong clinical evidence position it for rapid adoption.
- **Profitability**: CEO expects cash flow breakeven in 2025 as revenue growth outpaces expenses. Q3 2024 marked the strongest sequential revenue acceleration in company history.
- **Adult Market Expansion**: FDA submission for adult indication expansion is in process, with potential launch in late 2025. Adult TAM is estimated at ~$2 billion.

Actual	-1.21	-0.32			-0.205	-0.33	-0.22	-0.24	-0.215
Forecast	-0.22	-0.1	-0.05	0	0.04	-0.24	-0.19	-0.2	-0.215
Surprise	-450.00%	-220.00%	0.00%	0.00%	-612.50%	-37.50%	-15.79%	-20.00%	0.00%

Actual	646.00K	646.63K	--	--	761.08K	895.65K	894.00K	811.41K	968.00K
Forecast	1.02M	2.23M	2.67M	3.14M	3.62M	725.00K	983.63K	1.00M	850.00K
Surprise	-36.48%	-70.99%	0.00%	0.00%	-78.97%	+23.54%	-9.11%	-18.86%	+13.88%

NRXS

NRXS fundamentals

NRXS Q4 2025 Earnings

Earnings Call

You can ask Aime

NRXS

NRXS fundamentals

NRXS Q4 2025 Earnings

Earnings Call

NRXS Earnings Call Summary for Q4/20259:00 AM on Mar 19, 2026

NRXS Earnings Call Summary for Q3/20259:00 AM on Nov 11, 2025

NRXS Earnings Call Summary for Q2/20259:00 AM on Aug 12, 2025

NRXS Earnings Call Summary for Q1/20259:00 AM on May 12, 2025

NRXS Earnings Call Summary for Q4/2024Invalid Date on Mar 20, 2025

You can ask Aime