Neuraxis Inc Financials
This page shows Neuraxis Inc (NRXS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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 FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Neuraxis Inc has an operating margin of -219.4%, meaning the company retains $-219 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 -266.5% the prior year.
Neuraxis Inc's revenue surged 32.9% year-over-year to $3.6M, reflecting rapid business expansion. This strong growth earns a score of 88/100.
Neuraxis Inc carries a low D/E ratio of 0.88, meaning only $0.88 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.
Neuraxis Inc's current ratio of 2.05 indicates adequate short-term liquidity, earning a score of 37/100. The company can meet its near-term obligations, though with limited headroom.
While Neuraxis Inc generated -$6.4M in operating cash flow, capex of $31K consumed most of it, leaving -$6.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Neuraxis Inc generates a -229.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -398.6% the prior year.
Neuraxis Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Neuraxis Inc generates $0.82 in operating cash flow (-$6.4M OCF vs -$7.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Neuraxis Inc earns $-105.9 in operating income for every $1 of interest expense (-$7.8M vs $74K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Neuraxis Inc generated $3.6M in revenue in fiscal year 2025. This represents an increase of 32.9% from the prior year.
Neuraxis Inc's EBITDA was -$7.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 9.2% from the prior year.
Neuraxis Inc reported -$7.8M in net income in fiscal year 2025. This represents an increase of 5.4% from the prior year.
Neuraxis Inc earned $-0.95 per diluted share (EPS) in fiscal year 2025. This represents an increase of 22.1% from the prior year.
Cash & Balance Sheet
Neuraxis Inc generated -$6.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 5.5% from the prior year.
Neuraxis Inc held $5.0M in cash against $0 in long-term debt as of fiscal year 2025.
Neuraxis Inc had 11M shares outstanding in fiscal year 2025. This represents an increase of 60.0% from the prior year.
Margins & Returns
Neuraxis Inc's gross margin was 84.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.3 percentage points from the prior year.
Neuraxis Inc's operating margin was -219.4% in fiscal year 2025, reflecting core business profitability. This is up 47.1 percentage points from the prior year.
Neuraxis Inc's net profit margin was -218.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 88.3 percentage points from the prior year.
Neuraxis Inc's ROE was -229.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 169.1 percentage points from the prior year.
Capital Allocation
Neuraxis Inc invested $494K in research and development in fiscal year 2025. This represents an increase of 139.5% from the prior year.
Neuraxis Inc invested $31K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 12.1% from the prior year.
NRXS Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $811K-9.2% | $894K-0.2% | $896K+17.7% | $761K+14.2% | $667K+9.0% | $612K-5.4% | $647K+21.7% | $531K |
| Cost of Revenue | $135K-7.6% | $147K+5.1% | $139K+19.8% | $116K+20.0% | $97K+32.1% | $73K-2.2% | $75K+3.8% | $72K |
| Gross Profit | $676K-9.6% | $747K-1.2% | $756K+17.3% | $645K+13.2% | $570K+5.9% | $538K-5.9% | $572K+24.5% | $459K |
| R&D Expenses | $131K+124.4% | $58K-3.7% | $61K+203.1% | $20K-84.2% | $126K+132.4% | $54K+875.1% | $6K+350.8% | -$2K |
| SG&A Expenses | $1.9M-16.9% | $2.3M-20.7% | $2.9M+27.1% | $2.2M+28.0% | $1.8M-33.2% | $2.6M+13.4% | $2.3M+14.9% | $2.0M |
| Operating Income | -$2.1M-22.3% | -$1.7M+25.2% | -$2.3M-56.5% | -$1.5M+11.2% | -$1.7M+25.2% | -$2.2M-20.5% | -$1.8M-12.5% | -$1.6M |
| Interest Expense | $30K+120.8% | $13K+500.5% | $2K+101.3% | -$170K-362.4% | $65K-19.9% | $81K+203.8% | $27K+52.6% | $17K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.1M-25.6% | -$1.7M+25.8% | -$2.3M-57.4% | -$1.4M+17.5% | -$1.8M+39.8% | -$2.9M-37.6% | -$2.1M-33.2% | -$1.6M |
| EPS (Diluted) | $-0.24-9.1% | $-0.22+33.3% | $-0.33 | N/A | $-0.25+40.5% | $-0.42-31.2% | $-0.32 | N/A |
NRXS Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.8M-18.5% | $7.1M+133.9% | $3.0M-36.3% | $4.8M+316.1% | $1.1M-56.6% | $2.6M+178.4% | $946K+85.6% | $509K |
| Current Assets | $5.0M-24.6% | $6.6M+160.5% | $2.5M-40.4% | $4.3M+575.2% | $632K-70.1% | $2.1M+417.8% | $408K+68.1% | $243K |
| Cash & Equivalents | $4.4M-26.9% | $6.0M+198.6% | $2.0M-45.8% | $3.7M+1317.0% | $261K-85.2% | $1.8M+2059.3% | $82K+4.1% | $79K |
| Inventory | $110K-16.1% | $131K+251.2% | $37K-15.6% | $44K+97.4% | $22K-47.4% | $43K+111.5% | $20K-4.8% | $21K |
| Accounts Receivable | $109K-15.6% | $129K-47.3% | $244K-0.4% | $245K+365.1% | $53K-64.3% | $147K+62.5% | $91K+23.7% | $73K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.5M+23.2% | $2.8M+2.3% | $2.8M+3.0% | $2.7M-8.4% | $2.9M-62.8% | $7.9M+91.1% | $4.1M+115.9% | $1.9M |
| Current Liabilities | $3.1M+34.1% | $2.3M+11.7% | $2.1M-13.6% | $2.4M-8.7% | $2.7M-64.9% | $7.6M+99.0% | $3.8M+102.4% | $1.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.3M-46.3% | $4.3M+1545.5% | $258K-87.5% | $2.1M+215.3% | -$1.8M+65.9% | -$5.3M-65.1% | -$3.2M-126.9% | -$1.4M |
| Retained Earnings | -$62.9M-3.5% | -$60.8M-2.9% | -$59.1M-4.0% | -$56.8M-2.6% | -$55.4M-3.3% | -$53.6M-5.8% | -$50.7M-4.4% | -$48.6M |
NRXS Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.4M+2.7% | -$1.5M+8.5% | -$1.6M+8.8% | -$1.8M-26.2% | -$1.4M+13.8% | -$1.6M-21.2% | -$1.3M+49.3% | -$2.6M |
| Capital Expenditures | $0-100.0% | $7K-59.5% | $18K | $0-100.0% | $4K-49.7% | $9K-41.0% | $15K-8.2% | $16K |
| Free Cash Flow | -$1.4M+3.2% | -$1.5M+9.1% | -$1.6M+7.8% | -$1.8M-25.8% | -$1.4M+14.0% | -$1.6M-20.6% | -$1.3M+49.1% | -$2.6M |
| Investing Cash Flow | $0+100.0% | -$7K+59.5% | -$18K | $0+100.0% | -$4K+49.7% | -$9K+41.0% | -$15K+8.2% | -$16K |
| Financing Cash Flow | -$184K-103.4% | $5.5M+7914.3% | -$70K-101.3% | $5.2M+4944.4% | -$107K-103.2% | $3.3M+145.0% | $1.4M-31.2% | $2.0M |
| 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 |
NRXS Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.3%-0.3pp | 83.6%-0.8pp | 84.4%-0.3pp | 84.7%-0.7pp | 85.4%-2.5pp | 88.0%-0.4pp | 88.4%+2.0pp | 86.4% |
| Operating Margin | -258.8%-66.7pp | -192.1%+64.1pp | -256.3%-63.6pp | -192.7%+55.0pp | -247.7%+113.2pp | -360.9%-77.6pp | -283.3%+23.1pp | -306.4% |
| Net Margin | -261.6%-72.5pp | -189.1%+65.3pp | -254.4%-64.2pp | -190.2%+73.1pp | -263.3%+213.8pp | -477.1%-149.2pp | -327.9%-28.3pp | -299.6% |
| Return on Equity | -92.9%-53.2pp | -39.7%+841.8pp | -881.6%-811.5pp | -70.0% | N/A | N/A | N/A | N/A |
| Return on Assets | -36.8%-12.9pp | -23.8%+51.4pp | -75.2%-44.8pp | -30.4%+123.1pp | -153.5%-42.7pp | -110.8%+113.4pp | -224.2%+88.3pp | -312.5% |
| Current Ratio | 1.58-1.2 | 2.82+1.6 | 1.21-0.5 | 1.75+1.5 | 0.24-0.0 | 0.28+0.2 | 0.11-0.0 | 0.13 |
| Debt-to-Equity | 1.53+0.9 | 0.67-10.1 | 10.72+9.4 | 1.30+2.9 | -1.64-0.1 | -1.50-0.2 | -1.30+0.1 | -1.36 |
| FCF Margin | -175.9%-11.0pp | -164.9%+16.1pp | -181.1%+49.9pp | -231.0%-21.4pp | -209.6%+56.0pp | -265.6%-57.3pp | -208.3%+289.5pp | -497.8% |
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Frequently Asked Questions
What is Neuraxis Inc's annual revenue?
Neuraxis Inc (NRXS) reported $3.6M in total revenue for fiscal year 2025. This represents a 32.9% 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 Neuraxis Inc's revenue growing?
Neuraxis Inc (NRXS) revenue grew by 32.9% year-over-year, from $2.7M to $3.6M in fiscal year 2025.
Is Neuraxis Inc profitable?
No, Neuraxis Inc (NRXS) reported a net income of -$7.8M in fiscal year 2025, with a net profit margin of -218.6%.
What is Neuraxis Inc's EBITDA?
Neuraxis Inc (NRXS) had EBITDA of -$7.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Neuraxis Inc's gross margin?
Neuraxis Inc (NRXS) had a gross margin of 84.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Neuraxis Inc's operating margin?
Neuraxis Inc (NRXS) had an operating margin of -219.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Neuraxis Inc's net profit margin?
Neuraxis Inc (NRXS) had a net profit margin of -218.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Neuraxis Inc's return on equity (ROE)?
Neuraxis Inc (NRXS) has a return on equity of -229.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Neuraxis Inc's free cash flow?
Neuraxis Inc (NRXS) generated -$6.5M in free cash flow during fiscal year 2025. This represents a -5.5% 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 Neuraxis Inc's operating cash flow?
Neuraxis Inc (NRXS) generated -$6.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Neuraxis Inc's total assets?
Neuraxis Inc (NRXS) had $6.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Neuraxis Inc's capital expenditures?
Neuraxis Inc (NRXS) invested $31K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Neuraxis Inc spend on research and development?
Neuraxis Inc (NRXS) invested $494K in research and development during fiscal year 2025.
What is Neuraxis Inc's current ratio?
Neuraxis Inc (NRXS) had a current ratio of 2.05 as of fiscal year 2025, which is generally considered healthy.
What is Neuraxis Inc's debt-to-equity ratio?
Neuraxis Inc (NRXS) had a debt-to-equity ratio of 0.88 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Neuraxis Inc's return on assets (ROA)?
Neuraxis Inc (NRXS) had a return on assets of -121.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Neuraxis Inc's cash runway?
Based on fiscal year 2025 data, Neuraxis Inc (NRXS) had $5.0M in cash against an annual operating cash burn of $6.4M. 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 Neuraxis Inc's Piotroski F-Score?
Neuraxis Inc (NRXS) has a Piotroski F-Score of 3 out of 9, indicating weak 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 Neuraxis Inc's earnings high quality?
Neuraxis Inc (NRXS) has an earnings quality ratio of 0.82x, 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 Neuraxis Inc cover its interest payments?
Neuraxis Inc (NRXS) has an interest coverage ratio of -105.9x, 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 Neuraxis Inc?
Neuraxis Inc (NRXS) scores 35 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.