Neuraxis Inc Financials
Neuraxis Inc (NRXS) reported $3.6M in revenue for fiscal year 2025, up 32.9% from the prior fiscal year. This page shows its 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).
High-margin revenue is still far too small to absorb overhead-heavy operations, leaving the business funded by outside capital.
In FY2025, liquidity improved on paper, but it was built by financing inflows of$7.8M , not by the core business. Operating cash flow of-$6.4M sat close to the net loss of-$7.8M , so the reported losses are translating into real cash use rather than being masked by working-capital timing.
The striking feature is gross margin resilience: it stayed above
This is also a low-capital-intensity business right now: capital spending was only
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Neuraxis Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Neuraxis Inc scores -2.10, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($74.8M) relative to total liabilities ($3.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Neuraxis Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Neuraxis Inc reported a net loss of $7.8M while operations used $6.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Neuraxis Inc reported an operating loss of $7.8M against $74K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
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 recorded an outflow of $6.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 5.5% from the prior year.
Neuraxis Inc held $5.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
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 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.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Neuraxis Inc invested $494K in research and development in fiscal year 2025. This represents an increase of 13.8% 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.
Not reported for fiscal year 2025.
NRXS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9M+20.0% | $1.6M+66.1% | $968K+19.3% | $811K-9.2% | $894K-0.2% | $896K+17.7% | $761K+14.2% | $667K |
| Cost of Revenue | $273K+24.8% | $218K+54.5% | $141K+4.3% | $135K-7.6% | $147K+5.1% | $139K+19.8% | $116K+20.0% | $97K |
| Gross Profit | $1.7M+19.2% | $1.4M+68.1% | $827K+22.3% | $676K-9.6% | $747K-1.2% | $756K+17.3% | $645K+13.2% | $570K |
| R&D Expenses | $274K+175.5% | $100K-23.2% | $130K-0.9% | $131K+13.6% | $115K-2.3% | $118K-52.4% | $247K+96.0% | $126K |
| SG&A Expenses | $2.6M+19.9% | $2.2M+14.3% | $1.9M+2.6% | $1.9M+3.7% | $1.8M-25.4% | $2.4M+177.8% | $876K-50.1% | $1.8M |
| Operating Income | -$2.1M-22.1% | -$1.7M-1.4% | -$1.7M+18.2% | -$2.1M-22.3% | -$1.7M+25.2% | -$2.3M-56.5% | -$1.5M+11.2% | -$1.7M |
| Interest Expense | $20K-24.4% | $26K-8.5% | $29K-3.5% | $30K+120.8% | $13K+500.5% | $2K-6.6% | $2K-96.3% | $65K |
| Net Income | -$2.1M-18.4% | -$1.8M-3.1% | -$1.7M+19.5% | -$2.1M-25.6% | -$1.7M+25.8% | -$2.3M-57.4% | -$1.4M+17.5% | -$1.8M |
| EPS (Diluted) | -$0.19-5.6% | -$0.18-5.9% | -$0.17+29.2% | -$0.24-9.1% | -$0.22+33.3% | -$0.33-57.1% | -$0.21+16.0% | -$0.25 |
Not reported in any period shown, so not listed: Income Tax.
NRXS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.0M+14.3% | $8.7M+36.6% | $6.4M+10.9% | $5.8M-18.5% | $7.1M+133.9% | $3.0M-36.3% | $4.8M+316.1% | $1.1M |
| Current Assets | $9.4M+15.6% | $8.1M+42.0% | $5.7M+14.9% | $5.0M-24.6% | $6.6M+160.5% | $2.5M-40.4% | $4.3M+575.2% | $632K |
| Cash & Equivalents | $8.3M+17.6% | $7.1M+42.6% | $5.0M+13.4% | $4.4M-26.9% | $6.0M+198.6% | $2.0M-45.8% | $3.7M+1317.0% | $261K |
| Inventory | $277K+16.4% | $238K-7.3% | $257K+133.2% | $110K-16.1% | $131K+251.2% | $37K-15.6% | $44K+97.4% | $22K |
| Accounts Receivable | $433K+12.4% | $385K+96.7% | $196K+80.4% | $109K-15.6% | $129K-47.3% | $244K-0.4% | $245K+365.1% | $53K |
| Total Liabilities | $3.3M+8.8% | $3.0M-0.2% | $3.0M-13.9% | $3.5M+23.2% | $2.8M+2.3% | $2.8M+3.0% | $2.7M-8.4% | $2.9M |
| Current Liabilities | $3.1M+10.0% | $2.8M+0.8% | $2.8M-11.3% | $3.1M+34.1% | $2.3M+11.7% | $2.1M-13.6% | $2.4M-8.7% | $2.7M |
| Total Equity | $6.7M+17.2% | $5.7M+69.1% | $3.4M+48.8% | $2.3M-46.3% | $4.3M+1545.5% | $258K-87.5% | $2.1M+215.3% | -$1.8M |
| Retained Earnings | -$69.7M-5.0% | -$66.4M-2.7% | -$64.6M-2.7% | -$62.9M-3.5% | -$60.8M-2.9% | -$59.1M-4.0% | -$56.8M-2.6% | -$55.4M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
NRXS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.0M+16.3% | -$1.2M+36.4% | -$1.9M-35.5% | -$1.4M+2.7% | -$1.5M+8.5% | -$1.6M+8.8% | -$1.8M-26.2% | -$1.4M |
| Capital Expenditures | N/A | N/A | $6K | $0-100.0% | $7K-59.5% | $18K | $0-100.0% | $4K |
| Free Cash Flow | N/A | N/A | -$1.9M-35.9% | -$1.4M+3.2% | -$1.5M+9.1% | -$1.6M+7.8% | -$1.8M-25.8% | -$1.4M |
| Investing Cash Flow | N/A | N/A | -$106K | $0+100.0% | -$7K+59.5% | -$18K | $0+100.0% | -$4K |
| Financing Cash Flow | $2.3M-31.8% | $3.3M+27.2% | $2.6M+1529.7% | -$184K-103.4% | $5.5M+7914.3% | -$70K-101.3% | $5.2M+4944.4% | -$107K |
| Dividends Paid | N/A | $1.2M | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
NRXS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 85.9%-0.5pp | 86.4%+1.0pp | 85.4%+2.1pp | 83.3%-0.3pp | 83.6%-0.8pp | 84.4%-0.3pp | 84.7%-0.7pp | 85.4% |
| Operating Margin | -110.2% | -108.3% | -177.3% | -258.8% | -192.1% | -256.3% | -192.7% | -247.7% |
| Net Margin | -108.1% | -109.5% | -176.5% | -261.6% | -189.1% | -254.4% | -190.2% | -263.3% |
| Return on Equity | -31.0%-0.3pp | -30.6%+19.6pp | -50.3%+42.6pp | -92.9%-53.2pp | -39.7%+841.8pp | -881.6%-811.5pp | -70.0% | N/A |
| Return on Assets | -20.9%-0.7pp | -20.1%+6.5pp | -26.7%+10.1pp | -36.8%-12.9pp | -23.8%+51.4pp | -75.2%-44.8pp | -30.4%+123.1pp | -153.5% |
| Current Ratio | 3.04+0.1x | 2.89+0.8x | 2.05+0.5x | 1.58-1.2x | 2.82+1.6x | 1.21-0.5x | 1.75+1.5x | 0.24 |
| Debt-to-Equity | 0.480.0x | 0.52-0.4x | 0.88-0.6x | 1.53+0.9x | 0.67-10.1x | 10.72+9.4x | 1.30 | N/A |
| FCF Margin | N/A | N/A | -200.4% | -175.9% | -164.9% | -181.1% | -231.0% | -209.6% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Neuraxis Inc Ranks
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.
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 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) recorded an outflow of $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) recorded an outflow of $6.4M in operating cash flow during fiscal year 2025, representing cash used by 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.
How does Neuraxis Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Neuraxis Inc (NRXS) held $5.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $6.4M over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Neuraxis Inc's Altman Z-Score?
Neuraxis Inc (NRXS) has an Altman Z-Score of -2.10, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Neuraxis Inc's Piotroski F-Score?
Neuraxis Inc (NRXS) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $7.8M while operations used $6.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $7.8M against $74K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 43 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.