Neuraxis, INC NRXS
Inc. ("we", "us", the "Company" or "Neuraxis") is a first-to-market growth-stage medical
technology company focused on neuromodulation therapies for chronic and debilitating conditions in gastrointestinal (GI) digestive system,
specifically from disorders of the gut-brain interaction (DGBIs) in pediatrics and adults. With several indications in the market and
additional clinical trials of Percutaneous Electrical Nerve Field Stimulation (PENFS) in multiple pediatric and adult conditions underway,
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $3.6M | $2.7M | $2.5M | $2.7M | — |
| Cost of revenue | $562.9K | $362.0K | $303.3K | $297.1K | — |
| Gross profit | $3.0M | $2.3M | $2.2M | $2.4M | — |
| R&D | $493.6K | $433.6K | $169.3K | $225.6K | — |
| SG&A | $8.1M | $7.6M | $8.3M | $5.1M | — |
| Operating income | -$7.8M | -$7.2M | -$6.7M | -$3.4M | — |
| Interest expense | $74.0K | $174.3K | $476.4K | $318.7K | — |
| Net income | -$7.8M | -$8.2M | -$14.6M | -$4.8M | — |
| EPS, basic | -0.95 | -1.22 | -4.50 | -2.77 | — |
| EPS, diluted | -0.95 | -1.22 | -4.50 | -2.77 | — |
| Shares, diluted (wtd. avg.) | $9.1M | $6.9M | $3.3M | $2.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $5.0M | $3.7M | $78.6K | $253.7K | — |
| Receivables | $195.7K | $244.6K | $73.2K | $174.4K | — |
| Inventory | $257.1K | $44.3K | $21.2K | $48.1K | — |
| Total current assets | $5.7M | $4.3M | $242.6K | $477.0K | — |
| Property, plant and equipment | $75.6K | $90.0K | $88.6K | $88.0K | — |
| Other intangibles | $274.8K | $96.6K | $108.1K | $77.6K | — |
| Total assets | $6.4M | $4.8M | $509.5K | $1.5M | — |
| Accounts payable | $139.4K | $596.9K | $1.2M | $1.6M | — |
| Short-term debt | $148.3K | $154.2K | $148.1K | — | — |
| Total current liabilities | $2.8M | $2.4M | $1.9M | $7.0M | — |
| Long-term debt | — | — | — | $228.3K | — |
| Total liabilities | $3.0M | $2.7M | $1.9M | $7.1M | — |
| Retained earnings | -$64.6M | -$56.8M | -$48.6M | -$33.9M | — |
| Total equity | $3.4M | $2.1M | -$1.4M | -$5.6M | -$825.7K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$6.4M | -$6.1M | -$6.7M | -$2.3M | — |
| Depreciation and amortisation | $37.7K | $26.3K | $40.7K | $37.1K | — |
| Stock-based compensation | $596.9K | $227.0K | — | $27.3K | — |
| Capital expenditure | $31.1K | $27.8K | $30.8K | $1.4K | — |
| Investing cash flow | -$131.2K | -$27.8K | -$71.8K | -$61.2K | — |
| Financing cash flow | $7.8M | $9.7M | $6.6M | $2.3M | — |
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 0001140361-26-017498.
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