NeuroPace Inc
Business
NeuroPace Inc is a medical device company that develops and commercializes the RNS System, a brain-responsive neuromodulation device for treating drug-resistant focal epilepsy in adults. The RNS System continuously monitors brain electrical activity, detects abnormal patterns, and delivers targeted electrical stimulation to prevent seizures, with clinical data showing sustained seizure reduction and quality-of-life improvements. NeuroPace markets its system primarily through a direct sales organization to epileptologists and neurosurgeons at comprehensive epilepsy centers and, since 2023, to practitioners outside these centers in the United States, with expansion into indication areas including generalized epilepsy and pediatric patients and exploration of international markets.
Summary from 10-K filed 2026-03-03
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 100 | 80 | 65 | 46 | 45 | |
| Cost of goods sold | 23 | 21 | 17 | 13 | 12 | |
| Gross profit | 77 | 59 | 48 | 32 | 33 | |
| Sales and marketing | 47 | 40 | — | — | — | |
| Research and development | 28 | 24 | 21 | 22 | 18 | |
| General and administrative | 19 | 17 | — | — | — | |
| Total operating expenses | 94 | 81 | 75 | 73 | 57 | |
| Loss from operations | −16 | −22 | −27 | −41 | −24 | |
| Interest income | 3 | 3 | 3 | 2 | 448,000 | |
| Interest expense | −7 | −9 | −9 | — | — | |
| Other income (expense), net | −486,000 | 304,000 | −315,000 | −337,000 | −5 | |
| Net loss and comprehensive loss | −21 | −27 | −33 | −47 | −36 | |
| Net loss per share attributable to common stockholders, basic (in dollars per share) | −0.66 | −0.93 | −1.27 | −1.91 | −2.17 | |
| Net loss per share attributable to common stockholders, diluted (in dollars per share) | −0.66 | −0.93 | −1.27 | −1.91 | −2.17 | |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 33 | 29 | 26 | 25 | 17 | |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 33 | 29 | 26 | 25 | 17 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-11-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 22 | 13 | 18 | — | 7 | |
| Short-term investments | 39 | 39 | 48 | — | 71 | |
| Accounts receivable | 15 | 13 | 12 | — | 7 | |
| Inventory | 17 | 13 | 11 | — | 10 | |
| Prepaid expenses and other current assets | 1 | 2 | 3 | — | 3 | |
| Total current assets | 94 | 81 | 93 | — | 98 | |
| Property and equipment, net | 1 | 1 | 1 | — | 1 | |
| Operating lease right-of-use asset | 10 | 12 | 13 | — | 15 | |
| Restricted cash | 122,000 | 122,000 | 122,000 | — | 122,000 | |
| Deferred offering costs | 0 | 300,000 | 400,000 | 300,000 | 300,000 | |
| Other assets | 113,000 | 15,000 | 15,000 | — | 21,000 | |
| Total assets | 106 | 95 | 108 | — | 114 | |
| Accounts payable | 2 | 3 | 2 | — | 2 | |
| Accrued liabilities | 13 | 10 | 11 | — | 7 | |
| Operating lease liability | 2 | 2 | 2 | — | 1 | |
| Deferred revenue | 100,000 | 600,000 | 1 | — | 0 | |
| Total current liabilities | 18 | 15 | 16 | — | 11 | |
| Long-term debt | 59 | 60 | 57 | — | 53 | |
| Operating lease liability, net of current portion | 10 | 12 | 14 | — | 15 | |
| Total liabilities | 87 | 87 | 87 | — | 79 | |
| Commitments and contingencies (Note 5) | — | — | — | — | — | |
| Preferred stock, $0.001 par value, 10,000,000 shares authorized and no shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | — | 0 | |
| Common stock, $0.001 par value, 200,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 33,574,759 and 30,145,039 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 34,000 | 30,000 | 28,000 | — | 25,000 | |
| Additional paid-in-capital | 571 | 539 | 524 | — | 507 | |
| Accumulated deficit | −552 | −531 | −504 | — | −471 | |
| Total stockholders equity | 19 | 8 | 21 | — | 35 | |
| Total liabilities and stockholders equity | 106 | 95 | 108 | — | 114 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation expense | 11 | 10 | 10 | 8 | 4 | |
| Depreciation | 200,000 | 200,000 | 200,000 | 300,000 | 300,000 | |
| Amortization of debt discount and issuance costs | 237,000 | 228,000 | 283,000 | 258,000 | 267,000 | |
| Non-cash interest expense | 538,000 | 954,000 | 1 | 874,000 | 806,000 | |
| PIK interest incurred but not paid on term loan | 0 | 1 | 3 | 2 | 0 | |
| Loss on debt extinguishment | 527,000 | 0 | — | — | 0 | |
| Amortization of right-of-use asset | 2 | 2 | 1 | 3 | 0 | |
| Gain on short-term investments | −41,000 | −229,000 | 315,000 | 356,000 | 0 | |
| Inventory write-downs | 200,000 | 300,000 | 200,000 | 200,000 | 242,000 | |
| Loss on disposal of property and equipment | 14,000 | 0 | — | — | — | |
| Accounts receivable | −2 | −536,000 | −5 | −391,000 | 1 | |
| Inventory | −4 | −2 | −2 | −2 | −1 | |
| Prepaid expenses and other assets | 943,000 | 384,000 | 381,000 | −792,000 | −1 | |
| Accounts payable | −730,000 | 671,000 | 240,000 | 647,000 | 479,000 | |
| Accrued liabilities | 4 | −1 | 4 | −15,000 | 2 | |
| Deferred revenue | −414,000 | −534,000 | 1 | 0 | — | |
| Operating lease liabilities | −2 | −2 | −1 | −2 | 0 | |
| Net cash used in operating activities | −11 | −18 | −20 | −37 | −25 | |
| Acquisition of property and equipment | −332,000 | −306,000 | −173,000 | −603,000 | −384,000 | |
| Proceeds from sale of short-term investments | 0 | 9 | 23 | 24 | 0 | |
| Net cash (used in) provided by investing activities | −332,000 | 9 | 23 | 24 | −85 | |
| Repurchase of common stock from KCK Ltd. | −50 | 0 | — | — | — | |
| Proceeds from issuance of common stock under employee plans | 2 | 2 | 803,000 | 896,000 | 919,000 | |
| Taxes withheld and paid related to net share settlement of equity awards | −543,000 | −881,000 | −259,000 | −59,000 | 0 | |
| Net cash provided by financing activities | 20 | 4 | 8 | 490,000 | 103 | |
| Net increase (decrease) in cash and cash equivalents | 8 | −5 | 11 | −13 | −7 | |
| Cash paid for interest | 6 | 6 | 4 | 4 | 6 | |
| Deferred offering costs offset against additional paid-in capital | 300,000 | 100,000 | 265,000 | 0 | — | |
| Purchase of property and equipment included in accounts payable | 13,000 | 19,000 | 69,000 | 124,000 | 0 | |
| Net change in accrued liabilities from early exercise of options | 0 | −1,000 | −1,000 | −4,000 | 2,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is NeuroPace Inc's CIK number?
NeuroPace Inc's SEC CIK number is 0001528287 (1528287). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find NeuroPace Inc's SEC filings?
All of NeuroPace Inc's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did NeuroPace Inc last report earnings?
NeuroPace Inc (NPCE) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001528287-26-000019). This is NeuroPace Inc's most recent earnings filing of record — not a forecast of its next earnings date.
What is NeuroPace Inc's most recent earnings 8-K?
NeuroPace Inc's latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001528287-26-000019. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View NeuroPace Inc's latest earnings 8-K →
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