electroCore, Inc. Revenue Disclosure
Note 4. Revenue
The following tables represent product net sales disaggregated by Channel and Geographic Market (in thousands):
| Full year ended December 31, | ||||||||
| Channel: | 2025 | 2024 | ||||||
| United States - Rx | $ | 24,073 | $ | 19,307 | ||||
| TAC-STIM | 422 | 1,197 | ||||||
| Outside the United States | 1,892 | 1,785 | ||||||
| In-License / Other | 96 | 82 | ||||||
| General Wellness | 5,549 | 2,811 | ||||||
| Total Net Sales | $ | 32,032 | $ | 25,182 | ||||
| Years ended December 31, | ||||||||
| Geographic: | 2025 | 2024 | ||||||
| Product revenue | ||||||||
| United States | $ | 30,075 | $ | 23,332 | ||||
| United Kingdom | 1,695 | 1,666 | ||||||
| Other | 197 | 119 | ||||||
| License revenue | ||||||||
| Japan | 65 | 65 | ||||||
| Total Net Sales | $ | 32,032 | $ | 25,182 | ||||
ELECTROCORE, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — Continued
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 19, 2026 | Showing above |
| 2024 | Mar 12, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 8, 2023 | |
| 2021 | Mar 10, 2022 | |
| 2020 | Mar 11, 2021 | |
| 2019 | Mar 30, 2020 | |
| 2018 | Mar 28, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.