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Nexalin Technology, Inc.
NXLCIK 0001527352NasdaqEmerging GrowthElectromedical & Electrotherapeutic ApparatusDelawareAUFY ends Dec 31
Period
FY 2025
Revenue
$301.6K
Net Income
$-8.22M
Total Assets
$4.64M
Equity
$3.75M
Shares Out
20.58M
Op. Cash Flow
$-4.96M
Business
Nexalin Technology designs and develops cranial electrotherapy stimulation (CES) neurostimulation medical devices to treat anxiety, insomnia, depression, and other mental health conditions without drugs or psychotherapy. The company offers Gen-1 devices (4 milliamps, legacy product), Gen-2 SYNC clinical devices (15 milliamps), and Gen-3 HALO home-use headsets (15 milliamps) currently under FDA Q-submission review. Products are manufactured through third-party contractors and distributed via clinical providers, military & government agencies, and planned virtual telehealth clinics; international approvals exist in China, Brazil, and Oman.
Summary from 10-K filed 2026-03-25
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| 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 |
|---|---|---|---|---|---|---|
| Revenues, net (includes related party of $49,671 and $6,180 for the year ended December 31, 2025 and December 31, 2024, respectively) | 301,647 | 168,721 | 110,748 | 1 | 144,065 | |
| Cost of revenues | 61,373 | 36,593 | 25,688 | 363,212 | 21,442 | |
| Gross profit | 240,274 | 132,128 | 85,060 | 958,145 | 122,623 | |
| Professional fees | 1 | 966,815 | 574,598 | 605,329 | 697,063 | |
| Salaries and benefits | 2 | 2 | 1 | 694,108 | 228,738 | |
| Selling, general and administrative | 4 | 4 | 2 | 1 | 5 | |
| Research and development | 1 | 1 | 2 | — | — | |
| Total operating expenses | 9 | 8 | 6 | 3 | 6 | |
| Loss from operations | −8 | −8 | −6 | −2 | −6 | |
| Interest income, net | 8,240 | 3,193 | −38,835 | −59,382 | −82,319 | |
| Gain on sale of short-term investments | 126,940 | 130,110 | 231,880 | — | — | |
| Other income | 34,568 | 9,310 | 239,542 | 171,681 | — | |
| Total other income, net | 169,748 | 142,613 | 1 | 135,215 | −59,403 | |
| Loss before provision for income taxes | −8 | −8 | −5 | — | — | |
| Provision for income taxes | — | — | — | — | — | |
| Loss before net (loss)/earnings of affiliate | −8 | −8 | — | — | — | |
| Net (loss)/earnings of affiliate | −1,048 | 4,851 | — | — | — | |
| Net loss | −8 | −8 | −5 | −2 | −6 | |
| Unrealized gain (loss) from short-term investments | 919 | −108 | −36,718 | 36,313 | — | |
| Comprehensive loss | −8 | −8 | −5 | −2 | −6 | |
| Net loss per share attributable to common stockholders - Basic | −0.5 | −0.83 | −0.63 | −0.3 | — | |
| Net loss per share attributable to common stockholders - Diluted | −0.5 | −0.83 | −0.63 | −0.3 | — | |
| Weighted Average Shares Outstanding - Basic | 16 | 9 | 7 | 6 | — | |
| Weighted Average Shares Outstanding - Diluted | 16 | 9 | 7 | 6 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| 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 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 654,783 | 574,485 | 580,230 | 162,743 | 661,778 | |
| Short-term investments | 3 | 3 | 2 | 7 | — | |
| Accounts receivable (includes related party of $37,812 and $3,007, respectively) | 81,571 | 13,043 | 9,369 | 4,875 | 16,303 | |
| Inventory | 131,473 | 174,578 | 156,420 | 154,370 | 31,410 | |
| Prepaid expenses and other current assets | 363,014 | 293,597 | 315,670 | 272,282 | 43,168 | |
| Total Current Assets | 4 | 4 | 3 | 7 | 752,659 | |
| Intangible assets, net | 336,049 | 260,727 | 105,528 | — | — | |
| Other assets | — | 864 | — | — | — | |
| Total Assets | 5 | 4 | 4 | 7 | 753,698 | |
| Accounts payable | 244,579 | 155,949 | 159,534 | 658,367 | 843,794 | |
| Accrued expenses | 642,754 | 390,745 | 261,284 | 539,822 | 611,795 | |
| Total Current Liabilities | 887,333 | 546,694 | 425,281 | 2 | 2 | |
| Total Liabilities | 887,333 | 546,694 | 425,281 | 2 | 2 | |
| Common stock, $0.001 par value; 100,000,000 shares authorized; 19,186,346 and 13,303,523 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 19,186 | 13,304 | 7,437 | 7,287 | 4,880 | |
| Accumulated other comprehensive gain (loss) | 406 | −513 | −405 | 36,313 | — | |
| Additional paid in capital | 97 | 88 | 80 | 78 | 69 | |
| Accumulated deficit | −93 | −85 | −77 | −72 | −71 | |
| Total Stockholders Equity | 4 | 4 | 3 | 5 | −2 | |
| Total Liabilities and Stockholders Equity | 5 | 4 | 4 | 7 | 753,698 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| 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 compensation | 3 | 4 | 2 | 270,670 | 4 | |
| Amortization | 21,537 | 15,107 | 3,751 | 0 | — | |
| Non-cash lease expense | — | 496 | 5,675 | 5,188 | — | |
| Write off of inventory | 16,380 | 0 | 5,762 | 19,892 | — | |
| Return on investment in Joint Venture | 864 | 95,136 | — | — | — | |
| Accounts receivable | −33,722 | — | −880 | 253 | −9,704 | |
| Accounts receivable - related party | −34,805 | −3,674 | −3,614 | — | — | |
| Prepaid assets | −69,417 | 22,073 | −43,388 | −229,114 | −33,974 | |
| Inventory | 26,725 | −18,158 | −7,812 | −142,852 | −8,754 | |
| Accounts payable | 88,629 | −3,585 | −238,833 | −46,107 | 382,633 | |
| Accrued expenses | 252,009 | 129,461 | −163,538 | 99,107 | 99,413 | |
| Lease liability | — | −4,463 | −50,797 | −46,033 | −36,973 | |
| Net cash used in operating activities | −5 | −4 | −4 | −2 | −1 | |
| Sale of short-term investments | 41 | 33 | 41 | — | — | |
| Purchase of short-term investments | −41 | −34 | −37 | −7 | — | |
| Purchase of patents | −59,942 | −116,812 | −98,970 | — | — | |
| Purchase of trademarks | −36,917 | −53,494 | −10,309 | — | — | |
| Net cash used in investing activities | −131,991 | −577,539 | 4 | −7 | — | |
| Sale of common stock for cash, net of financing fees | 5 | 5 | — | 9 | 1 | |
| Proceeds from ATM, net of fees | 523,550 | — | −200,000 | — | — | |
| Net cash provided by financing activities | 5 | 5 | −200,000 | 9 | 2 | |
| Net increase (decrease) in cash and cash equivalents | 80,298 | −5,745 | 417,487 | −499,035 | 583,342 | |
| Unrealized gain (loss) on short-term investments | 919 | −108 | −36,718 | 36,313 | — |
Filings
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Frequently asked questions
What is Nexalin Technology, Inc.'s CIK number?
Nexalin Technology, Inc.'s SEC CIK number is 0001527352 (1527352). 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 Nexalin Technology, Inc.'s SEC filings?
All of Nexalin Technology, 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.