electroCore (ECOR) Company Report

electroCore, Inc. (ECOR) announced preliminary unaudited financial guidance for the full year and fourth quarter of 2025 on January 20, 2026.
The company anticipates record full-year 2025 revenue of approximately $31.8 - $32.0 million, representing about 26% growth over full-year 2024, and Q4 2025 revenue of approximately $9.0 - $9.2 million, a 30% increase over Q4 2024.
As of December 31, 2025, Total Cash (cash, cash equivalents, and marketable securities) was approximately $11.6 million.

Jan 20, 2026, 9:05 PM

8-K

electroCore Provides Preliminary Full-Year and Q4 2025 Financial Guidance

ECOR

Guidance Update

Revenue Acceleration/Inflection

Earnings

electroCore anticipates record full-year 2025 revenue of approximately $31.8 - $32.0 million, representing 26% growth over full-year 2024 revenue of $25.2 million.
For the fourth quarter of 2025, revenue is expected to be approximately $9.0 - $9.2 million, which would represent approximately 30% growth over the fourth quarter of 2024.
The company ended 2025 with a Total Cash balance of approximately $11.6 million as of December 31, 2025.

Jan 20, 2026, 1:00 PM

Press Release

Vagus Nerve Stimulators Market Projected to Reach $1.29 Billion by 2032

ECOR

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

The Vagus Nerve Stimulators Market is estimated to be valued at USD 667.4 million in 2025 and is expected to reach USD 1,293.1 million by 2032, exhibiting a compound annual growth rate (CAGR) of 9.9% from 2025 to 2032.
Market growth is driven by the rising global prevalence of neurological disorders (e.g., epilepsy affecting 50 million people worldwide), continuous technological advancements in VNS devices, and expanding therapeutic applications beyond epilepsy and depression.
In 2025, implantable devices are projected to account for 66.3% of global market revenue, with epilepsy remaining the most lucrative application at 28.3% of market share.
North America is anticipated to retain its market dominance, holding one-third of the global vagus nerve stimulators industry share in 2025.
Recent key developments include Parasym's launch of Nuropod, a non-invasive VNS device, in September 2025, and SetPoint Medical's U.S. FDA approval for its SetPoint System for rheumatoid arthritis in July 2025.

Nov 13, 2025, 2:31 PM

Press Release

electroCore Reports Record Q3 2025 Revenue and Updates Profitability Timeline

ECOR

Earnings

Guidance Update

New Projects/Investments

electroCore achieved record revenue of $8.7 million in Q3 2025, representing a 33% increase year-over-year and an 18% sequential increase, with gross margins remaining strong at 86%.
The company is implementing three strategic pivots: the acquisition of the Quell portfolio from Neurometrics, strengthening its VA hospital sales channel with a new five-year contract, and developing its wellness division through new partnerships and board enhancements.
Due to these strategic investments, electroCore has deferred its timeline for achieving company-wide profitability (adjusted EBITDA) to the back half of 2026, targeting $12 million in quarterly revenue to reach this goal.
Full-year 2025 revenue guidance has been increased to $31.5 million-$32.5 million.
The cash balance as of September 30, 2025, was $13.2 million, with an estimated balance of approximately $10.5 million by December 31, 2025.

Nov 5, 2025, 9:30 PM

Transcript

electroCore, Inc. Announces Third Quarter 2025 Financial Results

ECOR

Earnings

Guidance Update

Revenue Acceleration/Inflection

Net sales for Q3 2025 reached a record $8.7 million, marking a 33% increase over Q3 2024, with year-to-date net sales growing 26% to $22.8 million compared to the first nine months of 2024.
The company reported a net loss of $3.4 million (or $0.40 per share) for Q3 2025, compared to a net loss of $2.5 million (or $0.31 per share) in the prior year period.
Total Cash was approximately $13.2 million as of September 30, 2025.
electroCore raised its full-year 2025 revenue guidance to between $31.5 million and $32.5 million.
The company anticipates reaching $12.0 million in quarterly revenue and achieving its first quarter of positive adjusted EBITDA in the second half of 2026.

Nov 5, 2025, 9:16 PM

8-K

electroCore Announces Third Quarter 2025 Financial Results

ECOR

Earnings

Guidance Update

Revenue Acceleration/Inflection

electroCore reported net sales of $8.7 million for Q3 2025, marking a 33% increase over Q3 2024, with year-to-date net sales reaching $22.8 million, a 26% increase compared to the first nine months of 2024.
As of September 30, 2025, the company's Total Cash (cash, cash equivalents, restricted cash, and marketable securities) was $13.2 million.
For the third quarter of 2025, electroCore recorded a net loss of $3.4 million, or $0.40 per share.
The company increased its full-year 2025 revenue guidance to between $31.5 million and $32.5 million.

Nov 5, 2025, 9:05 PM

Press Release

electroCore Secures Reimbursement Approval for gammaCore™ Sapphire in Belgium

ECOR

New Projects/Investments

electroCore, Inc. announced that its gammaCore™ Sapphire (nVNS) product has been included in a long-term reimbursement policy by the National Institute for Health and Disability Insurance (RIZIV / INAMI) in Belgium.
Effective October 1, 2025, this policy will provide coverage for gammaCore Sapphire to treat patients with cluster headaches.
This achievement, made possible through electroCore's distribution partner Silvert Medical, is considered a major milestone for expanding access to non-invasive therapies in Belgium and potentially other European countries.

Sep 29, 2025, 12:17 PM

Press Release

electroCore Reports Q1 2025 Earnings, Strategic Expansion & Guidance Update

ECOR

Earnings

M&A

Guidance Update

Q1 2025 net sales reached $6.7 million, a 23% increase over Q1 2024, with gross margins at 85%; performance driven by higher Rx gammaCore sales, international growth, and Truvaga traction .
Closed the acquisition of NeuroMetrix, Inc., expanding its portfolio with the Quell product line and bolstering its non-invasive bioelectronic therapies for fibromyalgia and chronic pain in VA and U.K. channels .
Restructured the sales team and increased media spend to accelerate growth toward achieving cash neutrality with an expected quarterly revenue target of around $9 million .
GAAP net loss widened to $3.9 million, while adjusted EBITDA net loss improved to $3.1 million in Q1 2025 .
Full-year 2025 guidance projects approximately $30.0 million in total revenue, with expected contributions from NeuroMetrix by year-end .

May 7, 2025, 8:31 PM

Transcript 8-K

electroCore Completes Acquisition of NeuroMetrix

ECOR

M&A

Acquisition Completed: electroCore, Inc. has finalized its merger with NeuroMetrix, converting each NURO share into $4.49 cash per share plus one contingent value right, making NeuroMetrix an indirect wholly-owned subsidiary.
Portfolio Expansion: The acquisition adds NeuroMetrix’s Quell Fibromyalgia Solution to electroCore’s portfolio, broadening its range in non-invasive bioelectronic therapies and targeting growth in chronic pain and wellness markets.

May 2, 2025, 12:00 AM

8-K

electroCore Reports Strong Q4 and Full-Year 2024 Revenue Growth, Narrows Net Loss, and Announces Strategic Acquisitions

ECOR

Earnings

Revenue Acceleration/Inflection

M&A

electroCore reported full-year 2024 revenue of $25.2 million, a 57% increase from 2023, and Q4 2024 revenue of $7 million, marking its ninth consecutive record revenue quarter with a 36% increase over the prior year's fourth quarter.
The company achieved a gross margin of 85% for the full year 2024, up from 83% in 2023, and narrowed its GAAP net loss by 37% to $11.9 million for the year.
Key growth drivers included VA channel sales, which grew 85% to $17.8 million in 2024, and Trevega net sales, which increased 174% to $2.8 million for the full year.
Subsequent to Q4 2024, electroCore announced the acquisition of Neurometrics for its Quell Fibromyalgia product and a distribution agreement with Spark Biomedical for the Sparrow Ascent product line, aiming to leverage existing distribution channels like the VA Hospital System.
The company ended 2024 with $12.2 million in cash, cash equivalents, marketable securities, and restricted cash, and reduced net cash used in operating activities by 53% to $7 million for the full year, stating they have sufficient runway and no plans to raise capital.