Ceribell Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
Ceribell (Nasdaq: CBLL) reported second quarter 2026 revenue of $28.1 million, up 33% year over year, driven by new account additions and higher utilization, with 712 active accounts. Product revenue was $21.2 million and subscription revenue $6.9 million, up 33% and 30% respectively.
Gross profit reached $25.9 million, with gross margin improving to 92%, aided by manufacturing efficiencies, a Vietnam production line, and one-time tariff refunds. Operating expenses rose 37% to $45.9 million, leading to a net loss of $19.3 million ($0.51 per share). Cash, cash equivalents, and marketable securities totaled $129.3 million. Ceribell obtained multiple FDA 510(k) clearances, secured a new credit facility with access to $60 million of committed capital, received an NTAP for its delirium monitoring solution effective October 1, 2026, and raised 2026 revenue guidance to $114–117 million, implying 28–31% growth over 2025.
Positive
- Q2 2026 revenue $28.1M, up 33% year over year
- Product revenue $21.2M (+33% YoY); subscriptions $6.9M (+30% YoY)
- Gross margin 92% vs 88% in Q2 2025
- Raised 2026 revenue guidance to $114–117M, 28–31% growth over 2025
- Cash and marketable securities $129.3M plus new $60M committed credit facility
- Multiple FDA 510(k) clearances and NTAP for delirium monitoring effective October 1, 2026
Negative
- Net loss $19.3M vs $13.6M in Q2 2025; loss per share $0.51 vs $0.38
- Q2 2026 operating expenses $45.9M, up 37% year over year
- First-half 2026 net loss $39.0M vs $26.4M first-half 2025
- Stockholders’ equity declined to $128.3M from $155.3M at December 31, 2025
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 11 | Q1 2026 earnings | Positive | -16.5% | Revenue grew, losses widened, and full-year guidance increased. |
| Feb 24 | Q4 2025 earnings | Positive | -4.8% | Revenue growth and FDA clearances accompanied higher expenses and annual losses. |
| Nov 04 | Q3 2025 earnings | Positive | +7.9% | Revenue increased, margins held, and full-year guidance was raised. |
| Aug 05 | Q2 2025 earnings | Positive | -15.3% | Revenue and active accounts expanded despite a larger operating loss. |
| May 08 | Q1 2025 earnings | Positive | -6.6% | Revenue growth and guidance increased while the net loss widened. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings history showed predominantly negative reactions despite revenue growth and other positive operating developments.
Key Terms
510(k) regulatory
ntap regulatory
adjusted ebitda financial
ieepa regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
SUNNYVALE, Calif., Aug. 10, 2026 (GLOBE NEWSWIRE) -- CeriBell, Inc. (Nasdaq: CBLL) (“Ceribell”), a medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions, today reported financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 & Recent Highlights
- Reported total revenue of
$28.1 million in the second quarter of 2026, a33% increase compared to the same period in 2025 - Ended the quarter with 712 total active accounts
- Achieved gross margin of
92% , which includes impact of refunds from previously paid tariffs - Received U.S. Food and Drug Administration 510(k) clearances for Epileptiform Abnormality Detection algorithm and Artifact Reduction algorithm
- Received multiple U.S. Food and Drug Administration 510(k) clearances for new recorder and headband designs that will form the foundation of Ceribell’s next-generation hardware platform
- Announced publication of study in Critical Care Medicine reinforcing the link between Clarity-measured seizure burden and neurological outcomes
- Secured new credit facility to refinance existing debt, providing access to up to
$60 million of committed capital - Received New Technology Add-On Payment (NTAP) for delirium monitoring solution from Centers for Medicare & Medicaid Services, effective October 1, 2026
- Strengthened Board of Directors with the appointment of Tom West and Sharon O’Keefe
"Our second quarter results reflect adoption accelerating across both new and existing accounts," said co-founder and CEO Jane Chao, Ph.D. "Combined with the early progress of our delirium pilot and multiple new FDA 510(k) clearances, we are highly confident in the strength of our business and our mission to establish EEG as a new vital sign."
Second Quarter 2026 Financial Results
Total revenue in the second quarter of 2026 was
Gross profit in the second quarter of 2026 was
Operating expenses in the second quarter of 2026 were
Net loss in the second quarter of 2026 was
Adjusted EBITDA loss (a non-GAAP measure) for the second quarter of 2026 was
Cash, cash equivalents, and marketable securities totaled
2026 Financial Outlook
Ceribell is raising its revenue guidance for the full year 2026 to a range of
Webcast and Conference Call Details
Ceribell will host a conference call today, August 10, 2026, at 1:30 p.m. PT / 4:30 p.m. ET to discuss its second quarter 2026 financial results. Investors interested in listening to the conference call may do so by dialing (800) 715-9871 for domestic callers or (646) 307-1963 for international callers and providing access code 1880547. A live and archived webcast of the event will be available on the “Investor Relations” section of the Ceribell website at https://investors.ceribell.com/.
Forward-Looking Statements
Except where otherwise noted, the information contained in this earnings release and the related attachments is as of August 10, 2026. We assume no obligation to update any forward-looking statements contained in this earnings release and the related attachments as a result of new information or future events or developments. This earnings release and the related attachments contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about, among other topics, our anticipated operating and financial performance, including financial guidance and projections; business plans, strategy, goals and prospects; and expectations for our products. Given their forward-looking nature, these statements involve substantial risks, uncertainties, and assumptions, and we cannot ensure that any outcome expressed in these forward-looking statements will be realized in whole or in part. You can identify these statements by the fact that they use future dates or use words such as “will,” “may,” “could,” “likely,” “ongoing,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “assume,” “target,” “forecast,” “guidance,” “goal,” “objective,” “aim,” “seek,” “potential,” “hope,” and other words and terms of similar meaning. Our financial guidance is based on estimates and assumptions that are subject to significant uncertainties. Among the factors that could cause actual results to differ materially from past results and future plans and projected future results are the following: risks related to our limited operating history and history of net losses; our ability to successfully achieve substantial market acceptance and adoption of our products; competitive pressures; our manufacturing operations, including our reliance on third-party manufacturers and suppliers in China and Vietnam and our ability to adapt to evolving demand; product defects or complaints and related liability; the complexity, timing, expense, and outcomes of clinical studies, legal matters and regulatory compliance; our ability to obtain and maintain adequate coverage and reimbursement levels for our products; our ability to comply with changing laws and regulatory requirements and resulting costs; our dependence on a limited number of suppliers; geopolitical conflicts and related supply chain disruptions; and other risks and uncertainties, including those described under the heading “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as well as in other reports filed with the U.S. Securities and Exchange Commission (“SEC”). These filings, when made, are available on the Investor Relations section of our website at https://investors.ceribell.com/ and on the SEC’s website at https://sec.gov/.
Non-GAAP Financial Measures
EBITDA and Adjusted EBITDA are non-GAAP financial measures. Ceribell defines EBITDA as GAAP net loss adjusted to exclude (i) provision for income taxes (ii) depreciation and amortization expense, and (iii) interest income and interest expense, net. EBITDA is then adjusted to exclude (iv) stock-based compensation expense and (v) legal fees and related professional services costs incurred in connection with the patent infringement action we filed against Natus Medical Incorporated and certain of its subsidiaries in July 2025, as further described in Part II, Item 1 — Legal Proceedings of Ceribell's Quarterly Report on Form 10-Q, to arrive at Adjusted EBITDA. Management uses EBITDA and Adjusted EBITDA to evaluate ongoing operations and for internal planning and forecasting purposes. Ceribell believes EBITDA and Adjusted EBITDA provide investors with meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its business, results of operations, or outlook. EBITDA and Adjusted EBITDA should not be considered in isolation, as a substitute for, or superior to GAAP net loss, and may not be comparable to similarly titled measures used by other companies. Reconciliations between U.S. GAAP and non-GAAP results are presented in the accompanying tables of this release.
About CeriBell, Inc.
Ceribell is a medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. Ceribell has developed the Ceribell System, a novel, point-of-care electroencephalography (EEG) platform specifically designed to address the unmet needs of patients in the acute-care setting. By combining proprietary, highly portable, and rapidly deployable hardware with sophisticated artificial intelligence-powered algorithms, the Ceribell System enables rapid diagnosis and continuous monitoring of patients with neurological conditions. The Ceribell System is FDA-cleared for use in detecting seizure and delirium in intensive care units and emergency rooms across the U.S. Ceribell is headquartered in Sunnyvale, California. For more information, please visit www.ceribell.com or follow the company on LinkedIn.
Investor Contacts
Brian Johnston
Gilmartin Group
Investors@ceribell.com
Media Contact
Brian Price
Press@ceribell.com
| CeriBell, Inc. Condensed Statements of Operations and Comprehensive Loss (in thousands, except share and per share data) (unaudited) | ||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | ||||||||||||||||
| Product revenue | $ | 21,241 | $ | 15,923 | $ | 41,431 | $ | 31,531 | ||||||||
| Subscription revenue | 6,856 | 5,276 | 13,160 | 10,159 | ||||||||||||
| Total revenue | 28,097 | 21,199 | 54,591 | 41,690 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| Product cost of goods sold | 1,830 | 2,351 | 4,898 | 4,711 | ||||||||||||
| Subscription cost of revenue | 329 | 166 | 633 | 290 | ||||||||||||
| Total cost of revenue | 2,159 | 2,517 | 5,531 | 5,001 | ||||||||||||
| Gross profit | 25,938 | 18,682 | 49,060 | 36,689 | ||||||||||||
| Operating expenses | ||||||||||||||||
| Research and development | 6,747 | 4,852 | 12,908 | 9,098 | ||||||||||||
| Sales and marketing | 24,415 | 17,422 | 46,805 | 35,455 | ||||||||||||
| General and administrative | 14,757 | 11,360 | 30,073 | 21,295 | ||||||||||||
| Total operating expenses | 45,919 | 33,634 | 89,786 | 65,848 | ||||||||||||
| Loss from operations | (19,981 | ) | (14,952 | ) | (40,726 | ) | (29,159 | ) | ||||||||
| Interest expense | (438 | ) | (477 | ) | (872 | ) | (948 | ) | ||||||||
| Other income, net | 1,151 | 1,786 | 2,593 | 3,687 | ||||||||||||
| Loss before provision for income taxes | (19,268 | ) | (13,643 | ) | (39,005 | ) | (26,420 | ) | ||||||||
| Provision for income tax expense | — | — | — | — | ||||||||||||
| Net loss | $ | (19,268 | ) | $ | (13,643 | ) | $ | (39,005 | ) | $ | (26,420 | ) | ||||
| Net loss per share attributable to common stockholders: | ||||||||||||||||
| Basic and diluted | (0.51 | ) | (0.38 | ) | (1.03 | ) | (0.73 | ) | ||||||||
| Weighted-average shares used in computing net loss per share attributable to common stockholders: | ||||||||||||||||
| Basic and diluted | 38,031,928 | 36,293,559 | 37,848,625 | 36,088,433 | ||||||||||||
| Other comprehensive loss | ||||||||||||||||
| Net unrealized gain (loss) on marketable securities | $ | (110 | ) | $ | 11 | $ | (251 | ) | $ | 5 | ||||||
| Comprehensive loss | $ | (19,378 | ) | $ | (13,632 | ) | $ | (39,256 | ) | $ | (26,415 | ) | ||||
| CeriBell, Inc. Condensed Balance Sheets (in thousands, except share and per share data) (unaudited) | ||||||||
| June 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 32,663 | $ | 40,476 | ||||
| Marketable securities | 96,598 | 118,785 | ||||||
| Accounts receivable, net | 15,995 | 15,053 | ||||||
| Inventory | 6,737 | 7,288 | ||||||
| Contract costs, current | 2,196 | 2,210 | ||||||
| Prepaid expenses and other current assets | 3,658 | 2,906 | ||||||
| Total current assets | 157,847 | 186,718 | ||||||
| Property and equipment, net | 1,760 | 2,030 | ||||||
| Operating lease right-of-use assets | 1,781 | 2,296 | ||||||
| Contract costs, long-term | 1,540 | 1,847 | ||||||
| Other non-current assets | 3,420 | 2,912 | ||||||
| Total assets | $ | 166,348 | $ | 195,803 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 3,185 | $ | 2,838 | ||||
| Accrued liabilities | 12,481 | 14,328 | ||||||
| Contract liabilities, current | 11 | 101 | ||||||
| Operating lease liability, current | 1,180 | 1,105 | ||||||
| Other current liabilities | 343 | 818 | ||||||
| Total current liabilities | 17,200 | 19,190 | ||||||
| Long-term liabilities | ||||||||
| Notes payable, long-term | 19,981 | 19,811 | ||||||
| Other liabilities, long-term | 106 | 106 | ||||||
| Operating lease liability, long-term | 748 | 1,360 | ||||||
| Total long-term liabilities | 20,835 | 21,277 | ||||||
| Total liabilities | $ | 38,035 | $ | 40,467 | ||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Preferred stock, | ||||||||
| Authorized shares: 10,000,000 as of June 30, 2026 and December 31, 2025, respectively | ||||||||
| Issued and outstanding shares: none as of June 30, 2026 and December 31, 2025, respectively | — | — | ||||||
| Common stock, | ||||||||
| Authorized shares: 500,000,000 as of June 30, 2026 and December 31, 2025, respectively | ||||||||
| Issued and outstanding shares: 38,223,221 and 37,485,124 as of June 30, 2026 and December 31, 2025, respectively | 39 | 38 | ||||||
| Additional paid-in capital | 387,727 | 375,495 | ||||||
| Accumulated other comprehensive income (loss) | (92 | ) | 159 | |||||
| Accumulated deficit | (259,361 | ) | (220,356 | ) | ||||
| Total stockholders’ equity | 128,313 | 155,336 | ||||||
| Total liabilities and stockholders’ equity | $ | 166,348 | $ | 195,803 | ||||
| CeriBell, Inc. Reconciliation of U.S. GAAP to Non-GAAP Financial Measures (in thousands) (unaudited) | ||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net Loss (GAAP) | $ | (19,268 | ) | $ | (13,643 | ) | $ | (39,005 | ) | $ | (26,420 | ) | ||||
| Non-GAAP Adjustments: | ||||||||||||||||
| Interest (income) and expense, net | (712 | ) | (1,308 | ) | (1,701 | ) | (2,739 | ) | ||||||||
| Depreciation and amortization | 245 | 324 | 484 | 659 | ||||||||||||
| EBITDA (Non-GAAP) | (19,735 | ) | (14,627 | ) | (40,222 | ) | (28,500 | ) | ||||||||
| Stock-based compensation | 5,998 | 3,167 | 9,721 | 5,515 | ||||||||||||
| IP litigation matter | 3,913 | 1,429 | 9,507 | 2,053 | ||||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | (9,824 | ) | $ | (10,031 | ) | $ | (20,994 | ) | $ | (20,932 | ) | ||||
