The combination of a revenue beat, raised guidance, multiple FDA clearances, and a new credit facility supporting the balance sheet creates a strong positive catalyst. Traders should watch for continued account adoption and the CMS NTAP reimbursement tailwind starting in Q4 2026, which could drive further upside to estimates.
Price Chart
Executive Summary
Ceribell reported Q2 2026 revenue of $28.1M (+33% YoY), beating the $27.3M consensus, but GAAP EPS of -$0.51 missed the $-0.46 consensus by 11.3%. The company raised its full-year 2026 revenue guidance to $114M-$117M, secured a new $60M credit facility, and received multiple FDA 510(k) clearances and CMS NTAP reimbursement for its delirium monitoring solution. Despite the strong top-line beat and raised guidance, the EPS miss and widening GAAP net loss temper the overall bullish read-through, though the accelerating adoption and product catalysts are clearly positive for the growth story.
Key Financial Metrics
Key Facts
- Q2 2026 total revenue of $28.1M, +33% YoY vs $21.2M, above $27.3M consensus
- GAAP EPS -$0.51, missed consensus of -$0.46 by 11.3%
- Raised FY2026 revenue guidance to $114M-$117M (prior $112M-$116M), representing 28%-31% YoY growth
- Gross margin expanded to 92% from 88% YoY, aided by tariff refunds and Vietnam manufacturing line
- Active accounts grew to 712 from 680 in Q1 2026
- Received multiple FDA 510(k) clearances for new algorithms and next-gen hardware platform
- Secured new $60M credit facility ($30M term loan + $30M revolver) to refinance existing debt
- CMS NTAP for delirium monitoring solution effective October 1, 2026
- Adjusted EBITDA loss improved to -$9.8M from -$10.0M YoY
- Cash, cash equivalents, and marketable securities totaled $129.3M as of June 30, 2026
Financial Impact
Revenue beat consensus by ~$0.8M (+2.9%); EPS missed by $0.05 (-11.3%); raised FY guidance by $2M at midpoint
Risk Factors
- GAAP net loss widening to -$19.3M from -$13.6M YoY, with operating expenses growing 37%
- EPS miss of 11.3% vs consensus may pressure the stock near-term despite strong revenue
- One-time tariff refunds boosted gross margins to 92%, which may not be sustainable
- Legal costs from patent infringement suit against Natus Medical continue to weigh on operating expenses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-342463 |
| Document: cbll-20260810.htm | 0001193125-26-342463 |
| Document: 0001193125-26-342463-index-headers.html | 0001193125-26-342463 |
| Document: 0001193125-26-342463-index.html | 0001193125-26-342463 |
| Document: 0001193125-26-342463.txt | 0001193125-26-342463 |
| 8-K Data (Synthetic) | 0001193125-26-342463 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Press Release | $27.14 $27.40 | ▲ +0.96% | ▲ +2.14% | $27.03 (−0.41%) |
Sep 17, 2026 5w ago | Insider Cluster | $24.37 $24.25 | ▼ −0.49% | ▼ −2.04% | $27.03 (+10.92%) |
Sep 10, 2026 6w ago | Insider Cluster | $23.63 $24.33 | ▼ −2.96% | ▼ −3.41% | $27.03 (−14.39%) |
Sep 4, 2026 7w ago | Insider Cluster | $24.31 $24.41 | ▲ +0.41% | ▲ +0.88% | $27.03 (+11.19%) |
Aug 25, 2026 8w ago | Insider Cluster | $23.45 $23.37 | ▲ +0.34% | ▲ +1.00% | $27.03 (−15.27%) |
Aug 20, 2026 9w ago | Insider Cluster | $24.20 $23.94 | ▲ +1.07% | ▲ +0.78% | $27.03 (−11.69%) |
Aug 20, 2026 9w ago | Insider Cluster | $24.20 $23.94 | ▼ −1.07% | ▼ −0.78% | $27.03 (+11.69%) |
Aug 18, 2026 10w ago | Institutional Cluster | $24.21 $24.89 | ▲ +2.81% | ▲ +2.60% | $27.03 (+11.65%) |
Aug 10, 2026 11w ago | 8-K | $21.31 $22.91 | ▲ +7.51% | ▲ +7.26% | $27.03 (+26.84%) |
Aug 10, 2026 11w ago | Press Release | $21.31 $22.91 | ▲ +7.51% | ▲ +7.26% | $27.03 (+26.84%) |
US Market Status
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