10-Q · May 12, 2026
Neuraxis, Inc. reported Q1 2026 results showing a significant increase in revenue and gross profit compared to the same period last year, with revenues of approximately $1.6 million, marking a 78% increase from $895,655…
Earnings analysis · 10-Q
NRXS earnings analysis
Filed August 11, 2026 · Our reading of the company's report
The latest report
The provided 10-Q excerpt does not include the quarterly income statement, balance sheet, cash flow statement, or segment disclosures, so current-period financial metrics cannot be verified from the filing text…
Read full summary
The provided 10-Q excerpt does not include the quarterly income statement, balance sheet, cash flow statement, or segment disclosures, so current-period financial metrics cannot be verified from the filing text supplied. The principal signal is negative: disclosure controls remained ineffective as of June 30, 2026, with 4 continuing material weaknesses. Remediation is ongoing through the remainder of 2026, while the Company retains a potential approximately $2,000,000 patent claim and $375,000 of settlement obligations.
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.
What stood out
-
Internal-control remediation continued
Management continued remediation during the quarter by implementing customer acceptance procedures, developing standard vendor contract templates, enhancing disaster recovery and backup procedures, and continuing independent control testing. Testing is expected to continue through the remainder of 2026.
-
Legal settlement obligation declining
The previously disclosed $750,000 settlement had $375,000 remaining payable as of June 30, 2026, reducing the outstanding legal settlement obligation from its original amount.
What to watch
-
Ineffective disclosure controls persist
Disclosure controls and procedures were concluded to be ineffective as of June 30, 2026. The filing identifies 4 continuing material weaknesses, including ineffective approval processes, inadequate contract management, U.S. GAAP misapplication, and ineffective disclosure controls.
-
Unresolved patent compensation claim
The Company remains exposed to a patent compensation claim of approximately $2,000,000 related to U.S. Patent No. 10,413,719. Management disputes the claim, but states the matter is in its early stages and the outcome cannot be predicted.
-
Remaining litigation settlement payments
The Company still owed $375,000 under a $750,000 settlement as of June 30, 2026, payable in 12 equal monthly installments beginning in January 2026; the remaining payments create an ongoing liquidity obligation.
Management's outlook
No quantitative revenue or EPS outlook was provided in the 10-Q. The filing states that independent control testing is expected to continue through the remainder of 2026.
Earlier filings 4
10-K · March 19, 2026
NeurAxis reported FY2025 revenue of $3,569,282 (sum of quarterly results) driven by Q4 2025 revenue of $968,127 (up 27.2% YoY vs Q4 2024’s $761,165). Gross margin remained high (Q4 gross margin 85.4%; FY2025 weighted…
10-Q · November 10, 2025
NeurAxis reported Q3 revenue of $811,414 (below the $1,000,000 estimate) — down 9.3% sequentially from $894,086 but up 21.7% year-over-year from $666,625. Gross margin remained high at 83.3% but operating loss widened…
10-Q · August 12, 2025
Neuraxis reported Q2 revenue of $894,086, largely flat versus Q1 ($895,655) but up materially year-over-year from $611,500. Gross margin compressed to 83.6% while operating margin and EPS improved versus prior quarter…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.