electroCore Posts 43% Revenue Growth to $9.6M, Adjusted EBITDA Loss Narrows 24%
electroCore reported first-quarter 2026 net sales of $9.6 million, up 43% year-over-year, driven by U.S. VA prescription gammaCore and Truvaga direct-to-consumer sales. Adjusted EBITDA loss narrowed 24% to $2.3 million, while gross margin expanded to 87% and full-year revenue growth guidance remains at ~30%.
1. First Quarter Financial Results
electroCore generated $9.6 million in Q1 net sales, up 43% from $6.7 million year-over-year, led by prescription and consumer channels. Gross profit rose by $2.7 million to $8.4 million with an 87% margin, while net loss was $5.3 million and adjusted EBITDA loss improved 24% to $2.3 million.
2. Prescription and Consumer Sales Growth
Prescription gammaCore revenue to the VA grew 26%, with VA facilities increasing to 200 from 175 and approximately 15,000 patients reached. Quell Fibromyalgia sales exceeded $1.0 million for the first time, totaling $2.7 million since acquisition, and Truvaga revenue climbed 38% to $1.5 million with a 2.37x ROAS and United Kingdom launch.
3. Full-Year Guidance and Pipeline Developments
The company reaffirmed 30% revenue growth guidance for full-year 2026, expecting the VA channel to remain the primary driver. A Quell Relief device for lower extremity pain is slated for second-half launch and a next-generation mobile app is under development to support recurring revenue.
4. Executive Leadership Update
Michael Fox joined as Chief Operating Officer with over 35 years of commercial leadership in healthcare and federal systems. His focus will be on scaling the commercial organization efficiently to convert incremental revenue into bottom-line improvement.