Nexalin Technology, Inc. NXL
Nexalin is headquartered, and maintains its base of management and operations, in Houston, Texas. We design and develop innovative neurostimulation products to uniquely and effectively help combat the ongoing global mental health epidemic. We developed an easy-to-administer medical device — referred to as "Generation 1" or "Gen-1" — that utilizes bioelectronic medical technology to treat anxiety, insomnia and depression without the need for drugs or psychotherapy. Our original Gen-1 devices are cranial electrotherapy stimulation (CES) devices that emit a waveform at 4 milliamps during treatment and are presently classified by the U.S. Food and Drug Administration (the "FDA") as a Class II device.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $301.6K | $168.7K | $110.7K | $1.3M | $144.1K | — |
| Cost of revenue | $61.4K | $36.6K | $25.7K | $363.2K | $21.4K | — |
| Gross profit | $240.3K | $132.1K | $85.1K | $958.1K | $122.6K | — |
| R&D | $1.1M | $1.2M | $1.9M | $511.0K | $139.0K | — |
| SG&A | $4.4M | $4.2M | $1.9M | $1.5M | $5.2M | — |
| Total operating expenses | $8.6M | $7.9M | $5.8M | $2.8M | $6.1M | — |
| Operating income | -$8.4M | -$7.8M | -$5.7M | -$1.8M | -$6.0M | — |
| Interest expense | $8.2K | $3.2K | $38.8K | $59.4K | $82.3K | — |
| Pre-tax income | -$8.2M | -$7.6M | -$4.6M | — | — | — |
| Net income | -$8.2M | -$7.6M | -$4.6M | -$1.7M | -$6.1M | — |
| EPS, basic | -0.50 | -0.83 | -0.63 | -0.30 | — | — |
| EPS, diluted | -0.50 | -0.83 | -0.63 | -0.30 | — | — |
| Shares, diluted (wtd. avg.) | 16.4M | 9.2M | 7.4M | 5.6M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $654.8K | $574.5K | $580.2K | $162.7K | $661.8K | $78.4K |
| Short-term investments | $3.1M | $2.9M | $2.4M | $6.8M | — | — |
| Receivables | $81.6K | $13.0K | $9.4K | $4.9K | $16.3K | — |
| Inventory | $131.5K | $174.6K | $156.4K | $154.4K | $31.4K | — |
| Total current assets | $4.3M | $4.0M | $3.4M | $7.4M | $752.7K | — |
| Property, plant and equipment | — | — | — | $503 | $1.0K | — |
| Other intangibles | $336.0K | $260.7K | $105.5K | — | — | — |
| Total assets | $4.6M | $4.2M | $3.6M | $7.4M | $753.7K | — |
| Accounts payable | $244.6K | $155.9K | $159.5K | $658.4K | $843.8K | — |
| Total current liabilities | $887.3K | $546.7K | $425.3K | $1.9M | $2.4M | — |
| Total liabilities | $887.3K | $546.7K | $425.3K | $2.0M | $2.4M | — |
| Retained earnings | -$92.9M | -$84.6M | -$77.0M | -$72.4M | -$70.7M | — |
| Total equity | $3.7M | $3.7M | $3.2M | $5.5M | -$1.7M | -$1.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$5.0M | -$3.9M | -$3.8M | -$2.2M | -$1.1M | — |
| Depreciation and amortisation | — | — | $503 | $535 | $537 | — |
| Stock-based compensation | $3.1M | $3.6M | $2.4M | $270.7K | $4.5M | — |
| Investing cash flow | -$132.0K | -$577.5K | $4.5M | -$6.8M | — | — |
| Financing cash flow | $5.2M | $4.5M | -$200.0K | $8.5M | $1.7M | — |
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 0001829126-26-002673.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $144.1K | $1.3M | $110.7K | $168.7K | $301.6K |
| Gross profit | — | $122.6K | $958.1K | $85.1K | $132.1K | $240.3K |
| Net income | — | -$6.1M | -$1.7M | -$4.6M | -$7.6M | -$8.2M |
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
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- 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
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Material agreement signed Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Delisting notice Item 3.01
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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