The 80% revenue growth and EPS beat, combined with the new CPT code and expanded FDA label, signal accelerating commercial adoption. Monitor upcoming quarters for sustained revenue acceleration and margin expansion as insurance coverage broadens. The $2.1M capital raise provides runway but watch for dilution risk.
Price Chart
Executive Summary
NeurAxis reported Q1 2026 revenue of $1.6M (+80% YoY) and EPS of -$0.17, beating consensus estimates of $1.4M and -$0.19. The beat was driven by the new Category I CPT code for PENFS, which expanded insurance coverage and improved gross margins to 86.4%. The company also raised $2.1M in April/May 2026 via ATM and warrant exercises, strengthening its cash position.
Key Financial Metrics
Key Facts
- Revenue $1.6M, up 80% YoY from $896K, beating $1.4M consensus
- EPS -$0.17 beat -$0.19 consensus by 10.5%
- Gross margin expanded 200 bps to 86.4% from 84.4%
- Operating loss improved 24% YoY to -$1.74M
- Cash $7.1M at quarter end; raised additional $2.1M in April/May 2026
- Category I CPT code for PENFS effective Jan 1, 2026, driving coverage and pricing
- FDA clearance expanded to treat functional dyspepsia in patients 8+
- VA Federal Supply Schedule contract awarded
Financial Impact
Revenue beat of ~$200K vs consensus; EPS beat of $0.02; gross margin improvement of 200 bps; $2.1M capital raise post-quarter
Risk Factors
- Small revenue base ($1.6M) makes growth rates volatile
- Recent $2.1M ATM and warrant exercises dilute existing shareholders
- Dependence on continued insurance coverage expansion for revenue growth
- Operating losses persist despite improvement
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292697 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 12d ago | 8-K | $7.74 | awaiting T+20 | — | $7.25 (−6.33%) |
Aug 19, 2026 9w ago | 8-K | $6.27 $7.61 | ▲ +21.37% | ▲ +21.37% | $7.25 (+15.63%) |
Aug 11, 2026 10w ago | Press Release | $6.35 $5.73 | ▼ −9.76% | ▼ −8.70% | $7.25 (+14.17%) |
Aug 4, 2026 12w ago | EFFECT | $7.01 $5.81 | ▲ +17.12% | ▲ +15.88% | $7.25 (−3.42%) |
Jul 30, 2026 12w ago | S-3/A | $6.28 $6.02 | ▲ +4.14% | ▲ +8.11% | $7.25 (−15.45%) |
Jul 10, 2026 15w ago | 8-K | $7.14 $7.09 | ▼ −0.70% | ▼ −3.13% | $7.25 (+1.54%) |
May 12, 2026 23w ago | Press Release | $8.27 $6.80 | ▼ −17.78% | ▼ −16.05% | $7.25 (−12.33%) |
May 5, 2026 24w ago | Press Release | $8.69 $7.01 | ▼ −19.33% | ▼ −24.29% | $7.25 (−16.57%) |
Apr 28, 2026 25w ago | DEFA14A | $7.44 $7.29 | ▼ −2.02% | ▼ −8.06% | $7.25 (−2.55%) |
Apr 21, 2026 26w ago | 8-K | $7.51 $7.25 | ▼ −3.46% | ▼ −6.63% | $7.25 (−3.46%) |
US Market Status
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