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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- All other States
- California
- Ohio
- Massachusetts
- Illinois
- Wisconsin
- Florida
| Region | FY2025 | FY2024 |
|---|---|---|
| All other States | $1.2M | $768.0K |
| California | $898.2K | $778.2K |
| Ohio | $578.8K | $431.3K |
| Massachusetts | $265.2K | $154.4K |
| Illinois | $222.4K | $246.2K |
| Wisconsin | $215.4K | $157.8K |
| Florida | $143.9K | $150.0K |
As the company reported it, from the “Schedule of Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $2.7M | $2.5M | $2.7M | $3.6M |
| Gross profit | — | $2.4M | $2.2M | $2.3M | $3.0M |
| Net income | — | -$4.8M | -$14.6M | -$8.2M | -$7.8M |
Recent filings and events
- 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
- 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
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. 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
- Other event Item 8.01
- Results announced Item 2.02
- 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
- Material agreement signed Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
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.
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