Neuropace Inc Financials
This page shows Neuropace Inc (NPCE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Neuropace Inc has an operating margin of -27.1%, meaning the company retains $-27 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 -41.5% the prior year.
Neuropace Inc's revenue surged 22.1% year-over-year to $79.9M, reflecting rapid business expansion. This strong growth earns a score of 92/100.
Neuropace Inc has elevated debt relative to equity (D/E of 7.43), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
With a current ratio of 5.37, Neuropace Inc holds $5.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Neuropace Inc generated -$17.9M in operating cash flow, capex of $306K consumed most of it, leaving -$18.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Neuropace Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Neuropace Inc generates $0.66 in operating cash flow (-$17.9M OCF vs -$27.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Neuropace Inc earns $-2.5 in operating income for every $1 of interest expense (-$21.7M vs $8.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Neuropace Inc generated $79.9M in revenue in fiscal year 2024. This represents an increase of 22.1% from the prior year.
Neuropace Inc's EBITDA was -$21.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.5% from the prior year.
Neuropace Inc generated -$18.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 8.1% from the prior year.
Neuropace Inc reported -$27.1M in net income in fiscal year 2024. This represents an increase of 17.6% from the prior year.
Neuropace Inc earned $-0.93 per diluted share (EPS) in fiscal year 2024. This represents an increase of 26.8% from the prior year.
Neuropace Inc held $13.4M in cash against $59.5M in long-term debt as of fiscal year 2024.
Neuropace Inc paid $0.00 per share in dividends in fiscal year 2024.
Neuropace Inc had 30M shares outstanding in fiscal year 2024. This represents an increase of 8.3% from the prior year.
Neuropace Inc's gross margin was 73.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.
Neuropace Inc's operating margin was -27.1% in fiscal year 2024, reflecting core business profitability. This is up 14.4 percentage points from the prior year.
Neuropace Inc's net profit margin was -34.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 16.4 percentage points from the prior year.
Neuropace Inc invested $23.7M in research and development in fiscal year 2024. This represents an increase of 13.8% from the prior year.
Neuropace Inc invested $306K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 76.9% from the prior year.
NPCE Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $27.4M+16.3% | $23.5M+4.4% | $22.5M+25.0% | $18.0M+9.6% | $16.4M-0.5% | $16.5M+14.1% | $14.5M+13.2% | $12.8M |
| Cost of Revenue | $6.2M+14.8% | $5.4M+4.0% | $5.2M+16.0% | $4.5M+6.5% | $4.2M-7.6% | $4.5M+10.7% | $4.1M+2.9% | $4.0M |
| Gross Profit | $21.2M+16.7% | $18.1M+4.6% | $17.3M+28.0% | $13.5M+10.7% | $12.2M+2.2% | $12.0M+15.4% | $10.4M+17.8% | $8.8M |
| R&D Expenses | $6.6M-3.9% | $6.8M-8.0% | $7.4M+38.4% | $5.4M+12.1% | $4.8M-10.3% | $5.3M+1.5% | $5.3M+3.4% | $5.1M |
| SG&A Expenses | $4.6M-24.3% | $6.1M-59.7% | $15.0M+13.8% | $13.2M-1.3% | $13.4M-7.6% | $14.5M+7.9% | $13.4M-1.1% | $13.6M |
| Operating Income | -$2.6M+61.9% | -$6.8M-32.6% | -$5.1M-1.9% | -$5.1M+15.1% | -$6.0M+24.2% | -$7.9M+5.6% | -$8.3M+15.6% | -$9.9M |
| Interest Expense | $1.6M-20.1% | $2.1M-4.4% | $2.2M-3.7% | $2.2M+2.1% | $2.2M+3.1% | $2.1M+8.1% | $2.0M+1.2% | $1.9M |
| Income Tax | $0 | $0 | $0 | N/A | $0 | $0 | $0 | N/A |
| Net Income | -$3.5M+59.6% | -$8.7M-31.3% | -$6.6M-6.3% | -$6.2M+14.6% | -$7.3M+20.5% | -$9.1M+12.1% | -$10.4M+6.9% | -$11.1M |
| EPS (Diluted) | $-0.11+57.7% | $-0.26-23.8% | $-0.21+4.5% | $-0.22+21.4% | $-0.28+22.2% | $-0.36+12.2% | $-0.41+6.8% | $-0.44 |
NPCE Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $107.3M+1.1% | $106.1M-3.7% | $110.2M+2.4% | $107.7M+8.4% | $99.3M-2.9% | $102.2M-3.8% | $106.3M-6.9% | $114.1M |
| Current Assets | $95.3M+1.7% | $93.7M-3.8% | $97.5M+5.1% | $92.7M+10.4% | $84.0M-2.9% | $86.5M-4.0% | $90.2M-7.7% | $97.7M |
| Cash & Equivalents | $20.6M-9.7% | $22.9M-15.4% | $27.0M+49.6% | $18.1M+85.8% | $9.7M+23.7% | $7.9M+16.9% | $6.7M+1.7% | $6.6M |
| Inventory | $18.1M+10.9% | $16.3M+20.4% | $13.6M+21.1% | $11.2M+14.9% | $9.8M-2.5% | $10.0M-6.8% | $10.8M+10.7% | $9.7M |
| Accounts Receivable | $14.9M+10.2% | $13.6M-12.2% | $15.4M+25.3% | $12.3M+9.2% | $11.3M+3.7% | $10.9M+18.3% | $9.2M+22.9% | $7.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $88.7M+2.4% | $86.7M+0.9% | $85.9M-1.2% | $87.0M+4.9% | $82.9M+2.4% | $81.0M+2.8% | $78.8M-0.7% | $79.3M |
| Current Liabilities | $19.6M+14.4% | $17.1M+16.6% | $14.7M-9.4% | $16.2M+26.6% | $12.8M+11.4% | $11.5M+16.5% | $9.9M-10.0% | $11.0M |
| Long-Term Debt | $58.7M+0.2% | $58.6M-2.0% | $59.8M+5.0% | $57.0M+1.9% | $55.9M+1.9% | $54.9M+1.8% | $53.9M+1.8% | $52.9M |
| Total Equity | $18.5M-4.7% | $19.4M-19.9% | $24.3M+17.5% | $20.7M+26.2% | $16.4M-22.9% | $21.2M-22.8% | $27.5M-21.0% | $34.8M |
| Retained Earnings | -$549.7M-0.6% | -$546.2M-1.6% | -$537.5M-6.7% | -$503.8M-1.2% | -$497.6M-1.5% | -$490.4M-1.9% | -$481.2M-2.2% | -$470.9M |
NPCE Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.9M+6.8% | -$2.1M+72.1% | -$7.5M-123.9% | -$3.3M-45.1% | -$2.3M+47.2% | -$4.4M+55.0% | -$9.7M-23.7% | -$7.8M |
| Capital Expenditures | $30K-82.1% | $168K+354.1% | $37K+15.6% | $32K+255.6% | $9K | $0-100.0% | $132K+29.4% | $102K |
| Free Cash Flow | -$2.0M+12.4% | -$2.3M+70.0% | -$7.5M-122.9% | -$3.4M-46.0% | -$2.3M+47.0% | -$4.4M+55.6% | -$9.8M-23.7% | -$7.9M |
| Investing Cash Flow | -$30K+82.1% | -$168K-354.1% | -$37K-101.1% | $3.5M-17.3% | $4.2M-20.9% | $5.3M-47.4% | $10.1M+13.1% | $8.9M |
| Financing Cash Flow | -$235K+87.7% | -$1.9M-109.0% | $21.1M+157.0% | $8.2M+30522.2% | -$27K-113.8% | $195K+176.5% | -$255K-84.8% | -$138K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0-100.0% | $49.5M | N/A | N/A | N/A | N/A | N/A |
NPCE Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.4%+0.3pp | 77.1%+0.1pp | 77.0%+1.8pp | 75.2%+0.7pp | 74.5%+2.0pp | 72.5%+0.8pp | 71.7%+2.8pp | 68.8% |
| Operating Margin | -9.5%+19.5pp | -29.0%-6.2pp | -22.9%+5.2pp | -28.0%+8.2pp | -36.2%+11.3pp | -47.6%+9.9pp | -57.5%+19.6pp | -77.1% |
| Net Margin | -12.8%+24.0pp | -36.8%-7.5pp | -29.3%+5.2pp | -34.4%+9.8pp | -44.2%+11.1pp | -55.3%+16.4pp | -71.7%+15.5pp | -87.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -3.3%+4.9pp | -8.2%-2.2pp | -6.0%-0.2pp | -5.8%+1.6pp | -7.3%+1.6pp | -8.9%+0.8pp | -9.8%0.0pp | -9.8% |
| Current Ratio | 4.86-0.6 | 5.47-1.2 | 6.63+0.9 | 5.71-0.8 | 6.55-1.0 | 7.52-1.6 | 9.13+0.2 | 8.90 |
| Debt-to-Equity | 3.17+0.2 | 3.02+0.6 | 2.46-0.3 | 2.76-0.7 | 3.42+0.8 | 2.58+0.6 | 1.96+0.4 | 1.52 |
| FCF Margin | -7.2%+2.4pp | -9.6%+23.8pp | -33.4%-14.6pp | -18.7%-4.7pp | -14.1%+12.3pp | -26.4%+41.5pp | -67.9%-5.8pp | -62.1% |
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Frequently Asked Questions
What is Neuropace Inc's annual revenue?
Neuropace Inc (NPCE) reported $79.9M in total revenue for fiscal year 2024. This represents a 22.1% 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 Neuropace Inc's revenue growing?
Neuropace Inc (NPCE) revenue grew by 22.1% year-over-year, from $65.4M to $79.9M in fiscal year 2024.
Is Neuropace Inc profitable?
No, Neuropace Inc (NPCE) reported a net income of -$27.1M in fiscal year 2024, with a net profit margin of -34.0%.
What is Neuropace Inc's earnings per share (EPS)?
Neuropace Inc (NPCE) reported diluted earnings per share of $-0.93 for fiscal year 2024. This represents a 26.8% 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 Neuropace Inc's EBITDA?
Neuropace Inc (NPCE) had EBITDA of -$21.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Neuropace Inc have?
As of fiscal year 2024, Neuropace Inc (NPCE) had $13.4M in cash and equivalents against $59.5M in long-term debt.
What is Neuropace Inc's gross margin?
Neuropace Inc (NPCE) had a gross margin of 73.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Neuropace Inc's operating margin?
Neuropace Inc (NPCE) had an operating margin of -27.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Neuropace Inc's net profit margin?
Neuropace Inc (NPCE) had a net profit margin of -34.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Neuropace Inc's free cash flow?
Neuropace Inc (NPCE) generated -$18.3M in free cash flow during fiscal year 2024. This represents a 8.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Neuropace Inc's operating cash flow?
Neuropace Inc (NPCE) generated -$17.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Neuropace Inc's total assets?
Neuropace Inc (NPCE) had $94.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Neuropace Inc's capital expenditures?
Neuropace Inc (NPCE) invested $306K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Neuropace Inc spend on research and development?
Neuropace Inc (NPCE) invested $23.7M in research and development during fiscal year 2024.
How many shares does Neuropace Inc have outstanding?
Neuropace Inc (NPCE) had 30M shares outstanding as of fiscal year 2024.
What is Neuropace Inc's current ratio?
Neuropace Inc (NPCE) had a current ratio of 5.37 as of fiscal year 2024, which is generally considered healthy.
What is Neuropace Inc's debt-to-equity ratio?
Neuropace Inc (NPCE) had a debt-to-equity ratio of 7.43 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Neuropace Inc's return on assets (ROA)?
Neuropace Inc (NPCE) had a return on assets of -28.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Neuropace Inc's cash runway?
Based on fiscal year 2024 data, Neuropace Inc (NPCE) had $13.4M in cash against an annual operating cash burn of $17.9M. This gives an estimated cash runway of approximately 9 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 Neuropace Inc's Piotroski F-Score?
Neuropace Inc (NPCE) has a Piotroski F-Score of 4 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 Neuropace Inc's earnings high quality?
Neuropace Inc (NPCE) has an earnings quality ratio of 0.66x, 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.
Can Neuropace Inc cover its interest payments?
Neuropace Inc (NPCE) has an interest coverage ratio of -2.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Neuropace Inc?
Neuropace Inc (NPCE) scores 38 out of 100 on our Financial Profile, indicating weak 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.