The combination of strong revenue growth, raised guidance, high gross margins, and significant regulatory milestones suggests accelerating commercial momentum. Traders should monitor whether the company can improve operating leverage as revenue scales, given that operating expenses grew faster than revenue in 2025.
Price Chart
Executive Summary
Ceribell reported strong financial results for Q4 and full year 2025, with revenue growth of 34% and 36% respectively, driven by increased adoption and new regulatory approvals. The company raised its 2026 revenue guidance to $111-115 million, reflecting 25-29% growth, while maintaining high gross margins near 88% despite widening net losses due to increased commercial investments.
Key Financial Metrics
Key Facts
- Q4 2025 revenue of $24.8M (+34% YoY), full year revenue of $89.1M (+36% YoY)
- 2026 revenue guidance of $111-115M, representing 25-29% growth over 2025
- Gross margin maintained at 88% for full year 2025
- Ended year with 647 active accounts and $159.3M in cash and marketable securities
- Received FDA 510(k) clearance for delirium monitoring and neonatal seizure detection, plus Breakthrough Device Designation for LVO stroke detection
Financial Impact
Revenue growth of 34-36% with 2026 guidance indicating continued strong growth of 25-29%
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Product | $67.3M | +34.0% |
| Subscription | $21.7M | +41.0% |
Risk Factors
- Net loss widened to $53.4M in 2025 from $40.5M in 2024 as operating expenses grew 42%
- Operating expenses increased at a faster rate (42%) than revenue growth (36%) in 2025
- Company remains in pre-profit stage with continued losses expected
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 11 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (CBLL) — Batch item 1 | 0001193125-26-067136 |
| Document: cbll-20260224.htm | 0001193125-26-067136 |
| Document: 0001193125-26-067136-index-headers.html | 0001193125-26-067136 |
| Document: 0001193125-26-067136-index.html | 0001193125-26-067136 |
| Document: 0001193125-26-067136.txt | 0001193125-26-067136 |
| 8-K Filing (CBLL) — Batch item 6 | 0001193125-26-067136 |
| Document: cbll-20260224.htm | 0001193125-26-067136 |
| Document: 0001193125-26-067136-index-headers.html | 0001193125-26-067136 |
| Document: 0001193125-26-067136-index.html | 0001193125-26-067136 |
| Document: 0001193125-26-067136.txt | 0001193125-26-067136 |
| CONTEXT: Previous Earnings (2026-02-24) | 0001193125-26-067136 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Press Release | $27.14 $27.40 | ▲ +0.96% | ▲ +2.14% | $27.13 (−0.04%) |
Sep 17, 2026 5w ago | Insider Cluster | $24.37 $24.25 | ▼ −0.49% | ▼ −2.04% | $27.13 (+11.33%) |
Sep 10, 2026 6w ago | Insider Cluster | $23.63 $24.33 | ▼ −2.96% | ▼ −3.41% | $27.13 (−14.81%) |
Sep 4, 2026 7w ago | Insider Cluster | $24.31 $24.41 | ▲ +0.41% | ▲ +0.88% | $27.13 (+11.60%) |
Aug 25, 2026 8w ago | Insider Cluster | $23.45 $23.37 | ▲ +0.34% | ▲ +1.00% | $27.13 (−15.69%) |
Aug 20, 2026 9w ago | Insider Cluster | $24.20 $23.94 | ▲ +1.07% | ▲ +0.78% | $27.13 (−12.11%) |
Aug 20, 2026 9w ago | Insider Cluster | $24.20 $23.94 | ▼ −1.07% | ▼ −0.78% | $27.13 (+12.11%) |
Aug 18, 2026 9w ago | Institutional Cluster | $24.21 $24.89 | ▲ +2.81% | ▲ +2.60% | $27.13 (+12.06%) |
Aug 10, 2026 11w ago | 8-K | $21.31 $22.91 | ▲ +7.51% | ▲ +7.26% | $27.13 (+27.31%) |
Aug 10, 2026 11w ago | Press Release | $21.31 $22.91 | ▲ +7.51% | ▲ +7.26% | $27.13 (+27.31%) |
US Market Status
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