Electrocore Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Electrocore has an operating margin of -48.3%, meaning the company retains $-48 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -120.2% the prior year.
Electrocore's revenue surged 57.1% year-over-year to $25.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Electrocore has a moderate D/E ratio of 1.71. This balance of debt and equity financing earns a leverage score of 48/100.
Electrocore's current ratio of 1.78 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.
Electrocore passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Electrocore generates $0.58 in operating cash flow (-$6.9M OCF vs -$11.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Electrocore (ECOR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Electrocore generated $25.2M in revenue in fiscal year 2024. This represents an increase of 57.1% from the prior year.
Electrocore's EBITDA was -$11.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.7% from the prior year.
Electrocore reported -$11.9M in net income in fiscal year 2024. This represents an increase of 36.9% from the prior year.
Electrocore earned $-1.59 per diluted share (EPS) in fiscal year 2024. This represents an increase of 53.5% from the prior year.
Electrocore held $3.5M in cash against $0 in long-term debt as of fiscal year 2024.
Electrocore had 7M shares outstanding in fiscal year 2024. This represents an increase of 10.8% from the prior year.
Electrocore's gross margin was 85.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 2.5 percentage points from the prior year.
Electrocore's operating margin was -48.3% in fiscal year 2024, reflecting core business profitability. This is up 71.9 percentage points from the prior year.
Electrocore's net profit margin was -47.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 70.3 percentage points from the prior year.
Electrocore invested $2.4M in research and development in fiscal year 2024. This represents a decrease of 55.6% from the prior year.
ECOR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.7M+17.7% | $7.4M+9.9% | $6.7M-4.6% | $7.0M+14.8% | $6.1M+12.8% | $5.4M+4.9% | $5.2M+15.2% | $4.5M |
| Cost of Revenue | $1.2M+29.8% | $939K-7.3% | $1.0M+1.9% | $994K+18.6% | $838K-5.6% | $888K-19.3% | $1.1M+66.4% | $661K |
| Gross Profit | $7.5M+16.0% | $6.4M+12.9% | $5.7M-5.7% | $6.1M+14.2% | $5.3M+16.4% | $4.6M+11.3% | $4.1M+6.3% | $3.8M |
| R&D Expenses | $662K+29.5% | $511K-20.4% | $642K-20.2% | $805K+26.8% | $635K+59.1% | $399K-64.0% | $1.1M-11.3% | $1.2M |
| SG&A Expenses | $9.7M+2.7% | $9.4M+6.2% | $8.9M+6.8% | $8.3M+14.6% | $7.3M-9.3% | $8.0M+15.3% | $6.9M+3.2% | $6.7M |
| Operating Income | -$2.9M+17.7% | -$3.5M+8.3% | -$3.8M-24.5% | -$3.1M-18.5% | -$2.6M+32.7% | -$3.8M+2.8% | -$4.0M+4.1% | -$4.1M |
| Interest Expense | $3K-26.7% | $5K-10.0% | $5K0.0% | $5K+16.3% | $4K+2.4% | $4K | N/A | N/A |
| Income Tax | N/A | N/A | -$48K | N/A | N/A | -$122K | N/A | N/A |
| Net Income | -$3.4M+7.2% | -$3.7M+4.8% | -$3.9M-19.4% | -$3.2M-21.6% | -$2.7M+24.3% | -$3.5M+13.0% | -$4.0M0.0% | -$4.0M |
| EPS (Diluted) | $-0.40+9.1% | $-0.44+6.4% | $-0.47-27.0% | $-0.37+2.6% | $-0.38+28.3% | $-0.53-12.8% | $-0.47+30.9% | $-0.68 |
ECOR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.4M+47.1% | $14.6M-9.2% | $16.0M-21.6% | $20.5M-8.4% | $22.4M+60.9% | $13.9M-13.7% | $16.1M-19.9% | $20.1M |
| Current Assets | $17.3M+64.3% | $10.6M-11.8% | $12.0M-26.6% | $16.3M-9.2% | $18.0M+53.4% | $11.7M-18.1% | $14.3M-19.9% | $17.8M |
| Cash & Equivalents | $7.9M+132.9% | $3.4M-10.7% | $3.8M+9.5% | $3.5M-66.5% | $10.3M+31.3% | $7.8M-24.0% | $10.3M-23.2% | $13.5M |
| Inventory | $1.2M-15.2% | $1.4M-17.7% | $1.7M+3.4% | $1.7M-35.1% | $2.6M+3.0% | $2.5M+16.1% | $2.2M-13.4% | $2.5M |
| Accounts Receivable | $1.5M+81.8% | $813K-44.3% | $1.5M+6.7% | $1.4M+154.1% | $538K+13.3% | $475K-33.8% | $717K+21.7% | $589K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $22.5M+67.2% | $13.4M+15.2% | $11.7M-9.7% | $12.9M+18.8% | $10.9M+15.9% | $9.4M+8.5% | $8.7M-4.5% | $9.1M |
| Current Liabilities | $12.1M+26.2% | $9.6M+22.4% | $7.9M-14.2% | $9.2M+26.2% | $7.3M-7.3% | $7.8M-3.6% | $8.1M-4.5% | $8.5M |
| Long-Term Debt | $6.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$1.1M-196.4% | $1.1M-74.5% | $4.4M-42.1% | $7.5M-34.2% | $11.5M+155.2% | $4.5M-39.6% | $7.4M-32.6% | $11.0M |
| Retained Earnings | -$188.0M-1.8% | -$184.6M-2.0% | -$180.9M-2.2% | -$177.1M-3.3% | -$171.4M-1.6% | -$168.7M-2.1% | -$165.2M-2.5% | -$161.2M |
ECOR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.7M-167.9% | -$623K+85.7% | -$4.4M-247.0% | -$1.3M+29.2% | -$1.8M+30.7% | -$2.6M+18.1% | -$3.1M-31.6% | -$2.4M |
| Capital Expenditures | $4K-84.0% | $25K-32.4% | $37K | N/A | N/A | N/A | $41K-44.6% | $74K |
| Free Cash Flow | -$1.7M-158.2% | -$648K+85.2% | -$4.4M | N/A | N/A | N/A | -$3.2M-29.3% | -$2.4M |
| Investing Cash Flow | -$1.3M-816.8% | $185K-95.9% | $4.5M+998.2% | -$501K | N/A | N/A | -$41K+44.6% | -$74K |
| Financing Cash Flow | $7.5M+249366.7% | $3K-98.3% | $180K-51.5% | $371K | N/A | N/A | $0 | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ECOR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.0%-1.3pp | 87.3%+2.4pp | 84.9%-1.0pp | 85.9%-0.5pp | 86.4%+2.7pp | 83.7%+4.9pp | 78.8%-6.5pp | 85.3% |
| Operating Margin | -33.2%+14.3pp | -47.5%+9.4pp | -56.9%-13.3pp | -43.6%-1.4pp | -42.2%+28.5pp | -70.7%+5.5pp | -76.3%+15.3pp | -91.5% |
| Net Margin | -39.2%+10.5pp | -49.7%+7.6pp | -57.4%-11.6pp | -45.8%-2.6pp | -43.3%+21.2pp | -64.4%+13.3pp | -77.7%+11.8pp | -89.4% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -15.9%+9.3pp | -25.2%-1.2pp | -24.0%-8.3pp | -15.8%-3.9pp | -11.9%+13.4pp | -25.2%-0.2pp | -25.0%-5.0pp | -20.1% |
| Current Ratio | 1.43+0.3 | 1.10-0.4 | 1.52-0.3 | 1.78-0.7 | 2.48+1.0 | 1.50-0.3 | 1.76-0.3 | 2.10 |
| Debt-to-Equity | -6.08-18.2 | 12.08+9.4 | 2.67+1.0 | 1.71+0.8 | 0.95-1.1 | 2.09+0.9 | 1.16+0.3 | 0.82 |
| FCF Margin | -19.3%-10.5pp | -8.8%+56.6pp | -65.4% | N/A | N/A | N/A | -61.0%-6.7pp | -54.3% |
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Frequently Asked Questions
What is Electrocore's annual revenue?
Electrocore (ECOR) reported $25.2M in total revenue for fiscal year 2024. This represents a 57.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Electrocore's revenue growing?
Electrocore (ECOR) revenue grew by 57.1% year-over-year, from $16.0M to $25.2M in fiscal year 2024.
Is Electrocore profitable?
No, Electrocore (ECOR) reported a net income of -$11.9M in fiscal year 2024, with a net profit margin of -47.2%.
What is Electrocore's earnings per share (EPS)?
Electrocore (ECOR) reported diluted earnings per share of $-1.59 for fiscal year 2024. This represents a 53.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Electrocore's EBITDA?
Electrocore (ECOR) had EBITDA of -$11.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Electrocore's gross margin?
Electrocore (ECOR) had a gross margin of 85.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Electrocore's operating margin?
Electrocore (ECOR) had an operating margin of -48.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Electrocore's net profit margin?
Electrocore (ECOR) had a net profit margin of -47.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Electrocore's operating cash flow?
Electrocore (ECOR) generated -$6.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Electrocore's total assets?
Electrocore (ECOR) had $20.5M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does Electrocore spend on research and development?
Electrocore (ECOR) invested $2.4M in research and development during fiscal year 2024.
How many shares does Electrocore have outstanding?
Electrocore (ECOR) had 7M shares outstanding as of fiscal year 2024.
What is Electrocore's current ratio?
Electrocore (ECOR) had a current ratio of 1.78 as of fiscal year 2024, which is generally considered healthy.
What is Electrocore's debt-to-equity ratio?
Electrocore (ECOR) had a debt-to-equity ratio of 1.71 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Electrocore's return on assets (ROA)?
Electrocore (ECOR) had a return on assets of -58.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Electrocore's cash runway?
Based on fiscal year 2024 data, Electrocore (ECOR) had $3.5M in cash against an annual operating cash burn of $6.9M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Electrocore's Piotroski F-Score?
Electrocore (ECOR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Electrocore's earnings high quality?
Electrocore (ECOR) has an earnings quality ratio of 0.58x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Electrocore?
Electrocore (ECOR) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.