NPCE · Neuropace Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | $99.99M | $79.91M | $65.42M | $45.52M | $41.14M |
| Cost of Revenue | $22.77M | $20.82M | $17.30M | $13.03M | $10.87M |
| Gross Profit | $77.22M | $59.09M | $48.12M | $32.49M | $30.27M |
| R&D | $27.89M | $23.65M | $20.78M | $21.95M | $15.70M |
| SG&A | $17.43M | $57.10M | $54.52M | $51.34M | $27.63M |
| Total Operating Expenses | $93.56M | $80.76M | $75.30M | $73.29M | $43.32M |
| D&A | $238.0K | $207.0K | $172.0K | $267.0K | $312.0K |
| Operating Income | ($16.34M) | ($21.67M) | ($27.17M) | ($40.79M) | ($13.05M) |
| Interest Expense | $7.46M | $8.80M | $8.52M | $7.53M | $11.49M |
| Income Tax | $0 | - | - | - | - |
| Net Income | ($21.46M) | ($27.14M) | ($32.96M) | ($47.08M) | ($24.28M) |
| EPS - Basic | ($0.66) | ($0.93) | ($1.27) | ($1.91) | ($117.85) |
| EPS - Diluted | ($0.66) | ($0.93) | ($1.27) | ($1.91) | ($117.85) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | $21.69M | $13.43M | $18.06M | $6.61M | $19.19M |
| Accounts Receivable | $14.68M | $12.85M | $12.31M | $7.48M | $7.09M |
| Inventory | $16.90M | $13.38M | $11.21M | $9.71M | $7.82M |
| Accounts Payable | $2.22M | $2.95M | $2.33M | $2.15M | $1.38M |
| Current Assets | $94.07M | $81.34M | $92.72M | $97.71M | $132.82M |
| Total Assets | $105.56M | $94.65M | $107.65M | $114.11M | $133.56M |
| Current Liabilities | $17.81M | $15.16M | $16.23M | $10.98M | $9.30M |
| Long-term Debt | $58.88M | $59.52M | $56.95M | $52.91M | $49.85M |
| Total Liabilities | $86.53M | $86.63M | $87.00M | $79.33M | $60.06M |
| Stockholders' Equity | $19.03M | $8.01M | $20.65M | $34.78M | $73.50M |
| Retained Earnings | ($552.41M) | ($530.95M) | ($503.81M) | ($470.85M) | ($423.77M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | ($11.01M) | ($17.95M) | ($19.70M) | ($36.87M) | ($21.61M) |
| Investing Cash Flow | ($332.0K) | $8.99M | $23.03M | $23.80M | ($10.77M) |
| Financing Cash Flow | $19.60M | $4.33M | $8.13M | $490.0K | $55.01M |
| CapEx | $332.0K | $306.0K | $173.0K | $603.0K | $62.0K |
| Free Cash Flow | ($11.34M) | ($18.25M) | ($19.87M) | ($37.47M) | ($21.67M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | 77.2% | 73.9% | 73.6% | 71.4% | 73.6% |
| Operating margin | -16.3% | -27.1% | -41.5% | -89.6% | -31.7% |
| EBITDA margin | -16.1% | -26.9% | -41.3% | -89.0% | -31.0% |
| Net margin | -21.5% | -34.0% | -50.4% | -103.4% | -59.0% |
| Free cash flow margin | -11.3% | -22.8% | -30.4% | -82.3% | -52.7% |
| FCF / Net income | 0.53 | 0.67 | 0.60 | 0.80 | 0.89 |
| R&D / Revenue | 27.9% | 29.6% | 31.8% | 48.2% | 38.2% |
| SG&A / Revenue | 17.4% | 71.5% | 83.3% | 112.8% | 67.2% |
| Effective tax rate | - | - | - | - | - |
| Return on assets | -20.3% | -28.7% | -30.6% | -41.3% | -18.2% |
| Return on equity | -112.8% | -338.7% | -159.6% | -135.4% | -33.0% |
| Return on invested capital | -16.6% | - | - | - | - |
| Liquidity | |||||
| Current ratio | 5.28 | 5.37 | 5.71 | 8.90 | 14.28 |
| Quick ratio | 4.33 | 4.48 | 5.02 | 8.02 | 13.44 |
| Cash ratio | 1.22 | 0.89 | 1.11 | 0.60 | 2.06 |
| Leverage | |||||
| Debt / Equity | 3.09 | 7.43 | 2.76 | 1.52 | 0.68 |
| Debt / Assets | 0.56 | 0.63 | 0.53 | 0.46 | 0.37 |
| Debt / EBITDA | - | - | - | - | - |
| Interest coverage | -2.2x | -2.5x | -3.2x | -5.4x | -1.1x |
| Equity multiplier | 5.55 | 11.81 | 5.21 | 3.28 | 1.82 |
| Liabilities / Assets | 0.82 | 0.92 | 0.81 | 0.70 | 0.45 |
| Efficiency | |||||
| Asset turnover | 0.95 | 0.84 | 0.61 | 0.40 | 0.31 |
| Inventory turnover | 1.35 | 1.56 | 1.54 | 1.34 | 1.39 |
| Days sales outstanding | 54d | 59d | 69d | 60d | 63d |
| Days inventory outstanding | 271d | 235d | 237d | 272d | 263d |
| Days payable outstanding | 36d | 52d | 49d | 60d | 46d |
| Cash conversion cycle | 289d | 241d | 256d | 272d | 279d |
| Valuation | |||||
| P / E | - | - | - | - | - |
| P / B | 26.5x | 40.7x | 12.9x | 1.1x | 0.0x |
| P / S | 5.1x | 4.1x | 4.1x | 0.8x | 0.1x |
| EV / EBITDA | - | - | - | - | - |
| Growth | |||||
| Revenue growth (YoY) | 25.1% | 22.1% | 43.7% | 10.7% | - |
| Revenue CAGR (3y) | 30.0% | 24.8% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - |
| Gross profit growth (YoY) | 30.7% | 22.8% | 48.1% | 7.3% | - |
| Operating income growth (YoY) | 24.6% | 20.3% | 33.4% | -212.6% | - |
| Net income growth (YoY) | 20.9% | 17.6% | 30.0% | -93.9% | - |
| EPS growth (YoY) | 29.0% | 26.8% | 33.5% | 98.4% | - |
| EPS CAGR (3y) | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - |
| FCF growth (YoY) | 37.9% | 8.1% | 47.0% | -72.9% | - |
| FCF CAGR (5y) | - | - | - | - | - |
| Book value growth (YoY) | 137.5% | -61.2% | -40.6% | -52.7% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$900.0K totalNon Us$900.0K · 100.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-3.36
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing NeuroPace Inc against the 5 most active filers in the same SIC group.