Ceribell, Inc. CBLL
We are a medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. We have developed the Ceribell System, a novel, point-of-care EEG platform specifically designed to address the unmet needs of patients in the acute care setting. By combining proprietary, highly portable, and rapidly deployable hardware with sophisticated artificial intelligence ("AI")-powered algorithms, the Ceribell System enables rapid diagnosis and continuous monitoring of patients with neurological conditions. We are initially focused on becoming the standard of care for the detection and management of seizures in the acute care setting, where the technological and operational limitations of conventional EEG systems have contributed to significant delays in seizure diagnosis and suboptimal patient care and clinical outcomes, as well as a high economic burden for hospitals and the healthcare system. By making EEG more accessible and enabling continuous monitoring through the power of AI, the Ceribell System enables clinicians to more rapidly and accurately diagnose and manage patients at risk of seizure in the acute care setting, resulting in improved patient outcomes and hospital and payer economics. As of December 31, 2025, the Ceribell System has been adopted by more than 600 hospitals, ranging from top academic centers to small community hospitals. For information regarding how patient care and clinical outcomes are measured, see "—Market Overview—Challenges of Managing Seizures in the Acute Care Setting."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $89.1M | $65.4M | $45.2M | — |
| Cost of revenue | $10.8M | $8.7M | $7.1M | — |
| Gross profit | $78.3M | $56.8M | $38.2M | — |
| R&D | $19.1M | $13.6M | $9.0M | — |
| SG&A | $44.5M | $33.8M | $20.3M | — |
| Total operating expenses | $136.7M | $96.5M | $68.2M | — |
| Operating income | -$58.4M | -$39.7M | -$30.0M | — |
| Interest expense | $1.9M | $2.0M | $2.1M | — |
| Pre-tax income | -$53.4M | -$40.5M | -$29.5M | — |
| Income tax | $0 | $0 | $11.0K | — |
| Net income | -$53.4M | -$40.5M | -$29.5M | — |
| EPS, basic | -1.46 | -3.39 | -5.56 | — |
| EPS, diluted | -1.46 | -3.39 | -5.56 | — |
| Shares, diluted (wtd. avg.) | 36.5M | 11.9M | 5.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $40.5M | $194.4M | $34.5M | $68.2M |
| Short-term investments | $118.8M | — | — | — |
| Receivables | $15.1M | $10.9M | $8.0M | — |
| Inventory | $7.3M | $6.9M | $5.9M | — |
| Total current assets | $186.7M | $217.3M | $52.0M | — |
| Property, plant and equipment | $2.0M | $2.3M | $1.6M | — |
| Total assets | $195.8M | $225.4M | $58.9M | — |
| Accounts payable | $2.8M | $1.1M | $732.0K | — |
| Total current liabilities | $19.2M | $13.0M | $21.6M | — |
| Total liabilities | $40.5M | $34.2M | $23.8M | — |
| Retained earnings | -$220.4M | -$166.9M | -$126.5M | — |
| Total equity | $155.3M | $191.2M | -$112.3M | -$86.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$40.8M | -$35.0M | -$29.2M | — |
| Depreciation and amortisation | $1.3M | $1.1M | $847.0K | — |
| Stock-based compensation | $12.2M | $5.4M | $2.7M | — |
| Capital expenditure | $767.0K | $1.3M | $983.0K | — |
| Investing cash flow | -$118.1M | -$1.6M | -$1.8M | — |
| Financing cash flow | $5.1M | $196.5M | -$2.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-067238.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $45.2M | $65.4M | $89.1M |
| Gross profit | — | $38.2M | $56.8M | $78.3M |
| Net income | — | -$29.5M | -$40.5M | -$53.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event Item 8.01
- Other event Item 8.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3845
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MDT | Medtronic plc | $122.04B | 25.6x | 8.4% |
| LIVN | LivaNova PLC | $4.46B | — | 10.7% |
| ITGR | Integer Holdings Corp | $4.30B | 43.8x | 8.0% |
| TMDX | TransMedics Group, Inc. | $2.45B | 14.5x | 37.1% |
| AXGN | Axogen, Inc. | $2.05B | — | 20.2% |
| BLFS | BIOLIFE SOLUTIONS INC | $1.89B | — | 28.9% |
| CNMD | CONMED Corp | $1.48B | 32.6x | 5.2% |
| CV | CapsoVision, Inc | $349.8M | — | 15.3% |