10-K · March 19, 2026
electroCore, Inc. reported a notable increase in net sales of 27% to $32.0 million for the year ending December 31, 2025, due to heightened adoption of their gammaCore and Quell products, significantly driven by their…
Earnings analysis · 10-Q
ECOR earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
electroCore, Inc. reported Q1 2026 net sales of $9.6 million, reflecting a substantial 43% year-over-year increase. However, the company also experienced a deepened net loss of $5.3 million, higher than the previous…
Read full summary
electroCore, Inc. reported Q1 2026 net sales of $9.6 million, reflecting a substantial 43% year-over-year increase. However, the company also experienced a deepened net loss of $5.3 million, higher than the previous year's loss of $3.9 million, alongside rising operating expenses primarily driven by increased sales and marketing efforts.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.34
- Gross margin
- 87%
What stood out
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Revenue Increased 43% YoY to $9.6M
Net sales rose from $6.7 million in Q1 2025 to $9.6 million in Q1 2026, driven by increased prescription device sales.
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Gross Margin Improved to 87%
Gross profit jumped to $8.4 million in Q1 2026, from $5.7 million a year earlier, achieving 87% gross margin.
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Sales Growth in Rx Devices
Prescription sales to the U.S. Department of Veterans Affairs accounted for $7.4 million, significantly up from $5.0 million.
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Operating Cash Flow Bettered by $1.4M
Net cash used in operating activities decreased from $4.4 million in Q1 2025 to $3.0 million in Q1 2026.
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$18.8M Cash Available for Future Issuance
Company retained $8.8 million in cash as of March 31, 2026, with $18.8 million left for potential issuance under the Sales Agreement.
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Desired Future Growth of at least 30%
The company anticipates approximately 30% revenue growth over FY 2025 in its outlook.
What to watch
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Rising Net Losses
Net loss widened to $5.3 million in Q1 2026 from $3.9 million in Q1 2025.
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Increased Operating Expenses
Operating expenses surged to $13.7 million in Q1 2026, an increase of $4.2 million from the previous year.
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Liquidity Concerns
Current cash is seen as insufficient to meet projected operating expenses for the next 12 months, raising substantial doubt about continuing operations.
Management's outlook
The company reaffirms its expectation of approximately 30% revenue growth over FY 2025.
Earlier filings 4
10-Q · November 5, 2025
In Q3 2025, electroCore (ECOR) reported a revenue increase of 33% year-over-year, reaching $8.7 million, driven by prescription product sales to the VA and the growth of its Truvaga wellness product. Although the net…
10-Q · August 6, 2025
For Q2 2025, electroCore, Inc. (ECOR) reported a revenue of $7.38 million, marking a 20% increase year-over-year, while gross margin improved to 87%. Despite a higher revenue, the company posted a larger net loss of…
10-Q · May 7, 2025
electroCore reported a notable 23% increase in revenue year-over-year in Q1 2025, totaling $6.72 million, alongside a slight uptick in gross margin to 85%. The company's net loss grew to $3.86 million, reflecting higher…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.