Neuraxis (NRXS) Company Report

NeurAxis reported 2025 revenue of "well over $3 million" with a gross margin of around 84%, and sold approximately 5,000 units.
The company achieved a significant milestone with its Category I CPT code becoming effective on January 1st, 2026, and now has over 100 million covered lives, primarily for pediatric indications.
As of December 31st, NeurAxis had $5 million in cash on its balance sheet with no debt, and expects its gross margins to approach 90% in 2026, with a clear path to profitability.

Jan 15, 2026, 2:30 PM

NeurAxis (NRXS) Highlights 2025 Financial Performance and Key Milestones for 2026 Growth

NRXS

Revenue Acceleration/Inflection

New Projects/Investments

Guidance Update

NeurAxis (NRXS) reported 2025 revenue of well over $3 million and a gross margin of approximately 84%, with expectations for gross margins to approach 90% in 2026.
A Category I CPT code for its PENFS technology became effective January 1, 2026, which is anticipated to streamline billing, increase physician recognition, and enhance credibility.
The company has achieved over 100 million covered lives for its PENFS technology, primarily for pediatric patients, addressing a significant barrier to scaling and sales.
As of December 31st, NeurAxis held $5 million in cash with no debt, and projects sufficient funds into Q3 2026 given a monthly burn rate of $450,000-$500,000.

Jan 15, 2026, 2:30 PM

NeurAxis Provides 2025 Financial Estimates and 2026 Strategic Outlook

NRXS

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

NeurAxis announced preliminary 2025 revenue of well over $3 million with a gross margin of around 84%, having sold approximately 5,000 units.
The company secured a Category I CPT code for its PENFS technology, effective January 1, 2026, and has expanded commercial payer coverage to over 100 million covered lives, primarily for the pediatric space.
As of December 31st, NeurAxis reported $5 million in cash on its balance sheet with no debt, and anticipates its current cash to last into Q3 2026, with a monthly burn rate of $450,000-$500,000.
NeurAxis is a growth stage med tech company focused on neuromodulation therapies for GI conditions, targeting a $22 billion serviceable available market in the United States, with a clear path to profitability and expected gross margins approaching 90% in 2026.

Jan 15, 2026, 2:30 PM

Neuraxis Announces FDA Clearance for PENFS Technology and Increased At The Market Offering

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Product Launch

New Projects/Investments

NeurAxis, Inc. received U.S. Food and Drug Administration (FDA) 510(k) clearance for its percutaneous electrical nerve field stimulation (PENFS) technology to treat functional abdominal pain (FAP) associated with functional dyspepsia (FD), and FD related nausea symptoms, in patients aged 8 years and older. This marks the first FDA clearance or approval for treatment specifically addressing FD in the adult patient population.
The company amended its At The Market Offering Agreement, increasing the aggregate offering price for common stock sales through Craig-Hallum Capital Group LLC from $3,300,000 to $6,270,000.
From August 29, 2025, through October 23, 2025, NeurAxis did not sell any shares of Common Stock pursuant to the At The Market Offering Agreement.

Oct 24, 2025, 12:22 PM

Neuraxis, Inc. enters into At The Market Offering Agreement

NRXS

Neuraxis, Inc. entered into an At The Market Offering Agreement with Craig-Hallum Capital Group LLC on August 29, 2025.
Under this agreement, the company may offer and sell shares of its common stock with an aggregate offering price of up to $3,300,000.
Craig-Hallum Capital Group LLC will serve as the sales agent and receive a commission of 3% of the gross sales proceeds.
The sales will be conducted under the company's Registration Statement on Form S-3, which became effective on February 11, 2025, with a related prospectus supplement filed on August 29, 2025.