NeuroPace reiterates $98M–$100M 2026 revenue target while advancing AI and IGE pipeline
View original at seekingalpha.comNeuroPace reiterates $98M–$100M 2026 revenue target while advancing AI and IGE pipeline Earnings Call Insights: NeuroPace (NPCE) Q4 2025 MANAGEMENT VIEW * Joel Becker, CEO, reported "strong quarterly revenue of $26.6 million, representing 24% year-over-year growth" and highlighted that RNS System revenue reached "$22.4…
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NeuroPace achieved strong quarterly revenue of $26.6 million, representing 24% year-over-year growth
80% confidenceFull year adjusted EBITDA expected to be approximately a loss in the range of $9 million to $10 million
80% confidenceGross margin for Q4 was 77.4% compared with 75.4% in Q4 2024 and 77.4% in Q3 2025
80% confidenceSeizure ID is an AI-enabled tool designed to analyze patient iEEG records, rapidly identify seizures and seizure trends and provide clinicians with the most clinically relevant data
80% confidenceNAUTILUS study showed 77% reduction in median seizure rates
80% confidenceThere is a lot of activity going on with NEST pediatric collaboration, and the FDA has indicated an interest in working in real-world data scenarios
80% confidenceNeuroPace submitted PMA supplement to FDA seeking expanded indication for RNS System in IGE during Q4 2025
80% confidenceNon-GAAP or adjusted gross margin expected to be between 81.5% and 82.5% on a continuing operations basis
80% confidenceCompany reached new highs in prescribers, accounts and patient pipeline
80% confidenceThere will be front-end loading on some of the OpEx, a little greater than 50% in the first half, causing adjusted EBITDA to go more negative, then pick up in second half
80% confidenceFull year 2026 revenue guidance of $98 million to $100 million, assuming underlying core RNS growth of 20-22% within adult focal epilepsy indication
80% confidenceAdjusted EBITDA was a positive $900,000 in Q4, a $1.9 million improvement compared to prior year quarter
80% confidenceFor Q1 2026, expect revenue in the range of $21 million to $22 million
80% confidenceNet loss was $2.7 million for Q4 compared with net loss of $5.3 million in prior year quarter
80% confidenceCompany is continuing to invest in commercial organization, including targeted sales representative additions, updates to incentive structure and additional nurse navigator resources
80% confidenceLoss from operations in Q4 was $1.8 million compared with loss of $3.7 million in prior year quarter
80% confidenceGross margin was greater than 77%, up roughly 200 basis points year-over-year
80% confidenceRNS System revenue reached $22.4 million, up 26% year-over-year
80% confidenceThere is plenty of capacity in the channel, and nurse navigator team is being doubled as a meaningful investment
80% confidenceCompany is deepening adoption within current adult focal epilepsy indication while expanding access through community pathways and preparing for future indication expansion
80% confidenceKey step post-IGE approval is to extend coverage from private payer community, and company is not waiting for approval to make progress on that
80% confidenceTotal revenue in Q4 2025 grew 24% to $26.6 million compared with $21.5 million in prior year quarter
80% confidenceThe underlying electrophysiology is different between IGE and focal epilepsy, but the RNS system can detect the seizures and safely deliver the therapy
80% confidenceThere is nothing outstanding with pricing that is different than what has been seen over time, and most growth is associated with initial implants of the RNS System
80% confidenceSeizure ID capability will come along with people's use and implantation of the RNS System
80% confidence