Medical tech firm NeurAxis' Q3 revenue jumps on broader insurance coverage
NRXS•NeurAxis' third-quarter revenue rose 150% year over year to $2.0 million, while gross margin increased 330 basis points to 86.6%. Its net loss widened to $6.5 million, mainly due to one-time stock compensation charges.
1. Revenue and margins rise
NeurAxis said third-quarter revenue increased 150% year over year to $2.0 million, below the $2.3 million consensus estimate. Gross margin expanded 330 basis points to 86.6%, as more devices were sold at full reimbursement prices following broader insurance coverage for its IB-Stim device.
2. Loss and outlook
The company's net loss widened to $6.5 million, mainly due to one-time stock compensation charges and higher market access costs. NeurAxis expects insurance coverage gains to support higher treatment volumes and revenue growth, and is expanding its commercial team while prioritizing capital efficiency.
