electroCore Reports 27% Revenue Growth to $32M, Plans OTC Quell Relief Launch
electroCore posted full-year 2025 revenue of $32 million, up 27% year-over-year driven by prescription and non-prescription product sales. The company plans a soft launch of Quell Relief OTC in H1 2026, targets a ROAS above 2.0 and expands VA and NHS England channels with new commercial leadership.
1. Full-Year 2025 Financial Performance
electroCore achieved $32 million in full-year 2025 revenue, marking a 27% increase from 2024. Growth was driven by both prescription gammaCore treatments and the non-prescription Quell product line, reflecting strong market penetration across channels.
2. VA and DTC Channel Expansion
The VA channel saw significant upswing in 2025, prompting plans to add sales representatives and bolster federal sales under new commercial leader Michael Fox. Direct-to-consumer efforts will focus on increased website traffic, affiliate partnerships and influencer campaigns to accelerate DTC sales.
3. Outside U.S. Growth via NHS England
NHS England remains the primary driver of international revenue despite prescription bottlenecks. electroCore is enhancing reimbursement infrastructure through distributors in Belgium and pursuing additional partnerships to broaden OUS market access.
4. Quell Relief Launch and Marketing Efficiency
Quell Relief, an over-the-counter device, is slated for a soft launch in H1 2026 and is expected to contribute incremental revenue beyond the 30% year-over-year growth target. The company aims to sustain a ROAS above 2.0 through optimized media spending and leverages its Kaiser contract to widen insurance coverage.