Nexalin Technology, Inc. (NXL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NXL SEC filings page.
Nexalin Technology, Inc. (NXL) reported $217K in revenue over the twelve months to Jun 30, 2026, up 24.2% from the prior twelve months. This page shows its 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).
Nexalin's revenue recovery is still overwhelmed by development spending, leaving financing—not operations—to fund continuing cash consumption.
From FY2023 to FY2025, revenue more than doubled while the operating loss widened from$5.7M to$8.4M ; the business added sales without yet absorbing its development-heavy cost base. In FY2025, gross profit of$240K was dwarfed by SG&A and R&D totaling$5.5M , so strong gross margins do not translate into operating viability at this scale.
The cash statement reinforces the operating picture: FY2025 operating cash flow was
The balance sheet is less debt-heavy than the income statement looks: debt-to-equity rose from 0.1x to 0.2x between FY2024 and FY2025. The current ratio was 4.8x, while reported liquidity equaled 9 months of the latest annual operating outflow—a balance-to-outflow comparison, not a forecast.
Financial Health Signals
Nexalin Technology, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Nexalin Technology, Inc. scores -30.37, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.0M) relative to total liabilities ($887K). 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.
Nexalin Technology, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Nexalin Technology, Inc. reported a net loss of $8.2M while operations used $5.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Nexalin Technology, Inc. reported an operating loss of $8.4M against $8K 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
Nexalin Technology, Inc. generated $12K in revenue in Q2 2026. This represents a decrease of 82.8% from the same quarter a year earlier. Against the prior quarter it is down 18.7%.
Nexalin Technology, Inc.'s EBITDA was -$2.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. Against the prior quarter it is down 6.1%.
Nexalin Technology, Inc. reported -$2.2M in net income in Q2 2026. This represents a decrease of 41.6% from the same quarter a year earlier. Against the prior quarter it is down 6.8%.
Nexalin Technology, Inc. earned -$0.11 per diluted share (EPS) in Q2 2026. This represents a decrease of 10.0% from the same quarter a year earlier. It is unchanged from the prior quarter.
Cash & Balance Sheet
Nexalin Technology, Inc. held $1.0M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Nexalin Technology, Inc.'s gross margin was 73.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 5.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 14.7 percentage points.
Nexalin Technology, Inc.'s ROE was -147.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 120.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 74.7 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Nexalin Technology, Inc. invested $564K in research and development in Q2 2026. This represents an increase of 150.0% from the same quarter a year earlier. Against the prior quarter it is up 63.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
NXL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12K-82.8% | $15K-63.5% | $172K+532.5% | $18K-49.6% | $71K+163.0% | $41K-47.9% | $27K+32.4% | $36K+49.4% |
| Cost of Revenue | $3K-85.7% | $2K-86.6% | $21K+180.5% | $4K-68.9% | $23K+215.1% | $14K+48.1% | $7K+43.3% | $13K+219.5% |
| Gross Profit | $9K-81.4% | $13K-52.2% | $151K+666.5% | $14K-39.1% | $48K+143.7% | $27K-60.5% | $20K+28.6% | $23K+15.9% |
| R&D Expenses | $564K+150.0% | $346K-14.7% | $225K-69.5% | $227K+26.9% | $226K+33.3% | $406K+284.5% | $737K+931.5% | $179K-89.1% |
| SG&A Expenses | $783K-12.4% | $793K-14.7% | $1.2M-14.4% | $1.4M-21.0% | $894K+49.3% | $929K+92.3% | $1.4M+254.7% | $1.8M-7.6% |
| Operating Income | -$2.2M-38.6% | -$2.1M-5.4% | -$2.4M+16.1% | -$2.3M+6.5% | -$1.6M-25.0% | -$2.0M-87.3% | -$2.9M-77.0% | -$2.5M-3.8% |
| EBITDA | -$2.2M | -$2.1M | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | -$129+97.2% | -$34+96.9% | -$159+91.3% | -$2K-128.8% | -$5K-7006.1% | -$1K-262.8% | -$2K-109.5% | -$1K-118.8% |
| Net Income | -$2.2M-41.6% | -$2.1M-5.5% | -$2.4M+16.1% | -$2.3M+7.0% | -$1.6M-23.1% | -$2.0M-91.0% | -$2.8M-262.9% | -$2.4M-6.6% |
| EPS (Basic) | -$0.11-10.0% | -$0.11+26.7% | -$0.13+53.6% | -$0.13+43.5% | -$0.10+41.2% | -$0.15-7.1% | -$0.28-180.0% | -$0.23+25.8% |
| EPS (Diluted) | -$0.11-10.0% | -$0.11+26.7% | -$0.13 | -$0.13 | -$0.10 | -$0.15 | -$0.28-180.0% | -$0.23+25.8% |
| Diluted Shares (Avg) | 21M+34.5% | 20M+48.9% | N/A | 18M | 16M | 13M | N/A | 11M+46.3% |
Not reported in any period shown, so not listed: Income Tax.
NXL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.0M-54.2% | $3.7M+27.4% | $4.6M+9.8% | $5.1M-2.5% | $6.6M+319.9% | $2.9M+2.3% | $4.2M+16.3% | $5.3M+18.6% |
| Current Assets | $1.9M-70.3% | $3.3M+25.6% | $4.3M+8.5% | $4.8M-1.8% | $6.3M+430.3% | $2.6M+2.2% | $4.0M+15.5% | $4.9M+15.1% |
| Cash & Equivalents | $1.0M+133.0% | $1.2M+94.2% | $655K+14.0% | $590K+624.7% | $431K-49.2% | $622K+13.9% | $574K-1.0% | $81K-77.5% |
| Short-Term Investments | $0-100.0% | $1.5M+5.0% | $3.1M+5.6% | $3.8M-16.6% | $5.4M | $1.4M-10.6% | $2.9M+22.7% | $4.5M+26.2% |
| Inventory | $233K+35.0% | $179K+2.4% | $131K-24.7% | $160K+1.2% | $173K+19.2% | $175K+14.0% | $175K+11.6% | $158K-0.2% |
| Accounts Receivable | $53K-11.5% | $43K+197.0% | $82K+525.4% | $8K-47.8% | $60K+410.6% | $14K+295.0% | $13K+39.2% | $15K+4.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.5M+147.2% | $808K+40.6% | $887K+62.3% | $358K+19.4% | $601K+183.2% | $575K+13.3% | $547K+28.5% | $299K-75.0% |
| Current Liabilities | $1.5M+147.2% | $808K+40.6% | $887K+62.3% | $358K+19.4% | $601K+183.2% | $575K+13.3% | $547K+28.5% | $299K-75.0% |
| Non-Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $1.5M-74.5% | $2.9M+24.1% | $3.7M+2.0% | $4.8M-3.8% | $6.0M+341.4% | $2.3M-0.1% | $3.7M+14.6% | $5.0M+53.2% |
| Retained Earnings | -$97.2M-10.2% | -$95.0M-9.6% | -$92.9M-9.7% | -$90.5M-10.6% | -$88.2M-11.2% | -$86.6M-11.0% | -$84.6M-9.9% | -$81.8M-7.3% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
NXL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.8M-96.4% | -$1.7M-20.1% | -$1.1M-1.2% | -$1.5M-83.2% | -$917K+26.4% | -$1.4M-86.9% | -$1.1M-13.0% | -$800K-14.1% |
| Depreciation & Amortization | $3K | $4K | N/A | N/A | N/A | N/A | N/A | N/A |
| Stock-Based Compensation | N/A | $479K-24.8% | N/A | N/A | N/A | $637K+294.7% | N/A | N/A |
| Investing Cash Flow | $1.5M+137.3% | $1.5M+2.4% | $689K-57.7% | $1.6M+136.2% | -$3.9M-353.1% | $1.5M+102.1% | $1.6M+33.1% | -$4.5M-639.7% |
| Financing Cash Flow | $138K | $756K | $524K | $0 | N/A | N/A | $0 | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
NXL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.2%+5.5pp | 87.8%+20.9pp | 87.8%+15.4pp | 78.3%+13.5pp | 67.7%-5.3pp | 66.9%-21.4pp | 72.4%-2.1pp | 64.8%-18.8pp |
| Operating Margin | -18479.7% | -14179.9% | -1403.9% | -12924.3% | -2296.2% | -4903.6% | -10579.5% | -6962.1% |
| Net Margin | -18412.7% | -14025.7% | -1382.6% | -12542.4% | -2239.7% | -4847.8% | -10424.5% | -6794.9% |
| Return on Equity | -147.4%-120.9pp | -72.7%+12.9pp | -63.4%+13.7pp | -47.7%+1.6pp | -26.5%+68.6pp | -85.5%-40.8pp | -77.1%-52.7pp | -49.4%+21.6pp |
| Return on Assets | -74.5%-50.4pp | -56.8%+11.8pp | -51.3%+15.8pp | -44.4%+2.2pp | -24.1%+58.1pp | -68.6%-31.8pp | -67.1%-45.6pp | -46.6%+5.2pp |
| Current Ratio | 1.25-9.2x | 4.07-0.5x | 4.85-2.4x | 13.47-2.9x | 10.44+4.9x | 4.56-0.5x | 7.25-0.8x | 16.39+12.8x |
| Debt-to-Equity | 0.98+0.9x | 0.280.0x | 0.24+0.1x | 0.070.0x | 0.10-0.1x | 0.250.0x | 0.150.0x | 0.06-0.3x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.040.0x | 0.000.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x |
Not reported in any period shown, so not listed: FCF Margin.
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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Nexalin Technology, Inc. NXL | FY2025 | $302K | -$8.2M | N/A | $4.0M | — |
| Intelligent Bio Solutions Inc. INBS | FY2026 | $4.2M | -$12.4M | N/A | $6.6M | 40/100 |
| enVVeno Medical Corporation NVNO | FY2025 | N/A | -$19.5M | N/A | $7.7M | — |
| Ainos, Inc. AIMD | FY2025 | $124K | -$14.8M | N/A | $10.6M | — |
| ALLURION TECHNOLOGIES ALUR | FY2025 | $15.2M | -$28.8M | N/A | $10.0M | — |
| Co-Diagnostics, Inc. CODX | FY2025 | $622K | -$47.0M | N/A | $7.7M | — |
Where Nexalin Technology, Inc. Ranks
Frequently Asked Questions
What is Nexalin Technology, Inc.'s annual revenue?
Nexalin Technology, Inc. (NXL) reported $302K in total revenue for fiscal year 2025. This represents a 78.8% 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 Nexalin Technology, Inc.'s revenue growing?
Nexalin Technology, Inc. (NXL) revenue grew by 78.8% year-over-year, from $169K to $302K in fiscal year 2025.
Is Nexalin Technology, Inc. profitable?
No, Nexalin Technology, Inc. (NXL) reported a net income of -$8.2M in fiscal year 2025.
What is Nexalin Technology, Inc.'s gross margin?
Nexalin Technology, Inc. (NXL) had a gross margin of 79.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nexalin Technology, Inc.'s return on equity (ROE)?
Nexalin Technology, Inc. (NXL) has a return on equity of -219.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Nexalin Technology, Inc.'s operating cash flow?
Nexalin Technology, Inc. (NXL) recorded an outflow of $5.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Nexalin Technology, Inc.'s total assets?
Nexalin Technology, Inc. (NXL) had $4.6M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Nexalin Technology, Inc. spend on research and development?
Nexalin Technology, Inc. (NXL) invested $1.1M in research and development during fiscal year 2025.
What is Nexalin Technology, Inc.'s current ratio?
Nexalin Technology, Inc. (NXL) had a current ratio of 4.85 as of fiscal year 2025, which is generally considered healthy.
What is Nexalin Technology, Inc.'s debt-to-equity ratio?
Nexalin Technology, Inc. (NXL) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nexalin Technology, Inc.'s return on assets (ROA)?
Nexalin Technology, Inc. (NXL) had a return on assets of -177.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Nexalin Technology, Inc.'s P/E ratio?
Nexalin Technology, Inc. (NXL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $4.0M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Nexalin Technology, Inc.'s price-to-sales ratio?
Nexalin Technology, Inc. (NXL) trades at 18.4x sales, its market capitalization divided by revenue of $217K revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.0M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Nexalin Technology, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Nexalin Technology, Inc. (NXL) held $3.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $5.0M 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 Nexalin Technology, Inc.'s Altman Z-Score?
Nexalin Technology, Inc. (NXL) has an Altman Z-Score of -30.37, 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 Nexalin Technology, Inc.'s Piotroski F-Score?
Nexalin Technology, Inc. (NXL) has a Piotroski F-Score of 4 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 Nexalin Technology, Inc.'s earnings high quality?
Nexalin Technology, Inc. (NXL) reported a net loss of $8.2M while operations used $5.0M 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 Nexalin Technology, Inc. cover its interest payments?
Nexalin Technology, Inc. (NXL) reported an operating loss of $8.4M against $8K 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.