Ceribell Reports Third Quarter 2025 Financial Results
Ceribell (Nasdaq: CBLL) reported third quarter 2025 results for the period ended September 30, 2025. Revenue was $22.6M, up 31% year-over-year; product revenue was $17.0M (+28%) and subscription revenue was $5.6M (+44%). Gross margin was 88% and gross profit was $19.9M. Operating expenses rose to $34.6M (+39%), driving a net loss of $13.5M (−$0.37 per share). Cash and marketable securities totaled $168.5M at quarter end. The company ended the quarter with 615 active accounts, appointed Erica Rogers to the board, and raised full‑year 2025 revenue guidance to $87M–$89M (~33%–36% growth).
Ceribell (Nasdaq: CBLL) ha riportato i risultati del terzo trimestre 2025 per il periodo terminato il 30 settembre 2025. Revenue è stato $22.6M, in aumento del 31% su base annua; product revenue è stato $17.0M (+28%) e subscription revenue è stato $5.6M (+44%). Gross margin è stato dell'88% e gross profit è stato $19.9M. Le spese operative sono aumentate a $34.6M (+39%), provocando una perdita netta di $13.5M (−$0.37 per azione). Le liquidità e titoli negoziabili ammontavano a $168.5M a fine trimestre. L'azienda ha chiuso il trimestre con 615 account attivi, ha nominato Erica Rogers nel consiglio e ha alzato le previsioni di reddito per il 2025 sull'intero anno a $87M–$89M (circa 33%–36% di crescita).
Ceribell (Nasdaq: CBLL) informó resultados del tercer trimestre de 2025 para el periodo terminado el 30 de septiembre de 2025. Revenue fue $22.6M, un incremento del 31% interanual; product revenue fue $17.0M (+28%) y subscription revenue fue $5.6M (+44%). Gross margin fue del 88% y gross profit fue $19.9M. Los gastos operativos subieron a $34.6M (+39%), llevando a una pérdida neta de $13.5M (−$0.37 por acción). El efectivo y valores negociables totalesizaron $168.5M al cierre del trimestre. La empresa terminó el trimestre con 615 cuentas activas, nombró a Erica Rogers para la junta y elevó la orientación de ingresos para 2025 a $87M–$89M (~33%–36% de crecimiento).
Ceribell (나스닥: CBLL)는 2025년 9월 30일 종료된 기간에 대한 2025년 3분기 실적을 발표했습니다. 매출은 $22.6M로 연간 대비 31% 증가했습니다; 제품 매출은 $17.0M (+28%)이고 구독 매출은 $5.6M (+44%)였습니다. 총 이익률은 88%였고 총이익은 $19.9M이었습니다. 영업비용은 $34.6M로 상승하며 (+39%) 순 손실은 $13.5M (주당 −$0.37) 이였습니다. 현금 및 단기금융자산은 분기말 $168.5M에 달했습니다. 분기말 회사는 활성 계정 615로 종료했고, 이리카 로저스를 이사회에 임명했으며 2025년 연간 매출 가이던스를 $87M–$89M (~33%–36% 성장)로 상향했습니다.
Ceribell (Nasdaq: CBLL) a publié les résultats du troisième trimestre 2025 pour la période se terminant le 30 septembre 2025. Revenus s'élevaient à $22.6M, en hausse de 31% en glissement annuel; produits revenus était $17.0M (+28%) et revenu récurrent était $5.6M (+44%). Marge brute était 88% et bénéfice brut était $19.9M. Les dépenses opérationnelles ont augmenté à $34.6M (+39%), entraînant une perte nette de $13.5M (−$0.37 par action). La trésorerie et les titres négociables s'élevaient à $168.5M à la fin du trimestre. La société a terminé le trimestre avec 615 comptes actifs, a nommé Erica Rogers au conseil d'administration et a relevé les prévisions de revenus 2025 à $87M–$89M (~33%–36% de croissance).
Ceribell (Nasdaq: CBLL) meldete die Ergebnisse des dritten Quartals 2025 für den Zeitraum bis zum 30. September 2025. Umsatz betrug $22.6M, eine Steigerung von 31% gegenüber dem Vorjahr; Produktumsatz war $17.0M (+28%) und Abonnementumsatz war $5.6M (+44%). Bruttomarge war 88% und Bruttoergebnis war $19.9M. Die Betriebsausgaben stiegen auf $34.6M (+39%), was zu einem Nettosverlust von $13.5M führte (−$0.37 pro Aktie). Liquidität und marktgängige Wertpapiere beliefen sich am Quartalsende auf $168.5M. Das Unternehmen schloss das Quartal mit 615 aktiven Konten ab, berief Erica Rogers in den Vorstand und erhöhte die Umsatzprognose für das Gesamtjahr 2025 auf $87M–$89M (~33%–36% Wachstum).
كيريبل (ناسداك: CBLL) أعلنت عن نتائج الربع الثالث من عام 2025 للفترة المنتهية في 30 سبتمبر 2025. الإيرادات كانت $22.6M، بارتفاع 31% على أساس سنوي؛ إيرادات المنتج كانت $17.0M (+28%) وإيرادات الاشتراك كانت $5.6M (+44%). الهامش الإجمالي كان 88% والربح الإجمالي كان $19.9M. ارتفعت المصروفات التشغيلية إلى $34.6M (+39%)، مما أدى إلى خسارة صافية قدرها $13.5M (−$0.37 للسهم). بلغت السيولة والأوراق المالية القابلة للتسويق $168.5M بنهاية الربع. أنهت الشركة الربع بـ 615 حساباً نشطاً، وعيّنت Erica Rogers في مجلس الإدارة، ورفعت توقعات الإيرادات لعام 2025 إلى $87M–$89M (نمو تقريبي نحو 33%–36%).
- Total revenue +31% to $22.6M in Q3 2025
- Subscription revenue +44% to $5.6M in Q3 2025
- Gross margin of 88% in Q3 2025
- Cash and marketable securities of $168.5M at 9/30/2025
- Operating expenses increased 39% to $34.6M in Q3 2025
- Net loss widened to $13.5M (−$0.37 per share) in Q3 2025
Insights
Ceribell shows accelerating commercial traction with solid revenue growth and raised 2025 guidance, though losses widen from investment spend.
The company converted increased demand into total revenue of
Operating expenses rose to
Key dependencies and risks include continued adoption within the active account base and execution on commercialization efforts; regulatory, supply-chain, and reimbursement factors are listed as potential modifiers in the company's forward-looking statements. The company raised full-year revenue guidance to a range of
SUNNYVALE, Calif., Nov. 04, 2025 (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 quarter ended September 30, 2025.
Third Quarter 2025 & Recent Highlights
- Reported total revenue of
$22.6 million in the third quarter of 2025, a31% increase compared to the same period in 2024 - Achieved gross margin of
88% compared to87% for the same period in 2024 - Ended the quarter with 615 total active accounts
- Appointed Erica Rogers to the Board of Directors
“We are encouraged by our third quarter performance, which reflects strong commercial execution and continued momentum in adoption of the Ceribell System,” said co-founder and CEO Jane Chao, Ph.D. “Looking ahead, our focus remains on generating robust clinical evidence to help establish point-of-care EEG as a new standard of care for seizure management in the acute care setting. Our progress this quarter underscores the foundational work we’ve done to unlock what we believe to be a
Third Quarter 2025 Financial Results
Total revenue in the third quarter of 2025 was
Gross profit in the third quarter of 2025 was
Operating expenses in the third quarter of 2025 were
Net loss in the third quarter of 2025 was
Cash, cash equivalents, and marketable securities totaled
2025 Financial Outlook
Ceribell is raising its revenue guidance for the full year 2025 to a range of
Webcast and Conference Call Details
Ceribell will host a conference call today, November 4, 2025, at 1:30 p.m. PT / 4:30 p.m. ET to discuss its third quarter 2025 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 9394689. 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 November 4, 2025. 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, the anticipated rate and impact of tariffs on our estimated gross margins; our finished goods headband product inventory and the duration of supply of finished goods; revenue associated with subscription products; our anticipated operating and financial performance, including financial guidance and projections; business plans, strategy, goals and prospects; expectations for our products; and other statements that are not statements of historical fact. Given their forward-looking nature, these statements involve substantial risks, uncertainties and potentially inaccurate assumptions, and we cannot ensure that any potential 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 refer to 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 of similar meaning. Ceribell’s 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 ability to adapt our manufacturing and production capacities to evolving patterns of demand, governmental actions and customer trends; the manufacturing of a substantial number of our product components and their assembly in China and Vietnam; product defects or complaints and related liability; the complexity, timing, expense, and outcomes of clinical studies; 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; and other risks and uncertainties, including those described under the heading “Risk Factors” in our Registration Statement on Form S-1, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and 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/.
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 (“AI”)-powered algorithms, the Ceribell System enables rapid diagnosis and continuous monitoring of patients with neurological conditions. The Ceribell System is FDA-cleared for detecting suspected seizure activity and currently utilized 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 or Laine Morgan
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 September 30, | Nine months ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | ||||||||||||||||
| Product revenue | $ | 17,020 | $ | 13,321 | $ | 48,551 | $ | 35,932 | ||||||||
| Subscription revenue | 5,569 | 3,874 | 15,728 | 10,978 | ||||||||||||
| Total revenue | 22,589 | 17,195 | 64,279 | 46,910 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| Product cost of goods sold | 2,461 | 2,096 | 7,172 | 6,073 | ||||||||||||
| Subscription cost of revenue | 186 | 88 | 476 | 325 | ||||||||||||
| Total cost of revenue | 2,647 | 2,184 | 7,648 | 6,398 | ||||||||||||
| Gross profit | 19,942 | 15,011 | 56,631 | 40,512 | ||||||||||||
| Operating expenses | ||||||||||||||||
| Research and development | 4,983 | 3,395 | 14,081 | 9,649 | ||||||||||||
| Sales and marketing | 18,569 | 12,524 | 54,024 | 33,812 | ||||||||||||
| General and administrative | 11,037 | 9,029 | 32,332 | 23,876 | ||||||||||||
| Total operating expenses | 34,589 | 24,948 | 100,437 | 67,337 | ||||||||||||
| Loss from operations | (14,647 | ) | (9,937 | ) | (43,806 | ) | (26,825 | ) | ||||||||
| Interest expense | (480 | ) | (530 | ) | (1,428 | ) | (1,493 | ) | ||||||||
| Change in fair value of warrant liability | — | (173 | ) | — | (417 | ) | ||||||||||
| Other income, net | 1,662 | 223 | 5,349 | 856 | ||||||||||||
| Loss, before provision for income taxes | (13,465 | ) | (10,417 | ) | (39,885 | ) | (27,879 | ) | ||||||||
| Provision for income tax expense | — | — | — | — | ||||||||||||
| Net loss | $ | (13,465 | ) | $ | (10,417 | ) | $ | (39,885 | ) | $ | (27,879 | ) | ||||
| Net loss per share attributable to common stockholders: | ||||||||||||||||
| Basic and diluted | (0.37 | ) | (1.85 | ) | (1.10 | ) | (5.02 | ) | ||||||||
| Weighted-average shares used in computing net loss per share attributable to common stockholders: | ||||||||||||||||
| Basic and diluted | 36,806,918 | 5,634,583 | 36,326,792 | 5,549,570 | ||||||||||||
| Other comprehensive loss | ||||||||||||||||
| Unrealized gain on marketable securities | $ | 134 | $ | — | $ | 139 | $ | — | ||||||||
| Comprehensive loss | $ | (13,331 | ) | $ | (10,417 | ) | $ | (39,746 | ) | $ | (27,879 | ) | ||||
| Ceribell, Inc. Condensed Balance Sheets (in thousands, except share and per share data) (unaudited) | ||||||||
| September 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 23,739 | $ | 194,370 | ||||
| Marketable securities | 144,803 | — | ||||||
| Accounts receivable, net | 12,234 | 10,878 | ||||||
| Inventory | 6,024 | 6,937 | ||||||
| Contract costs, current | 2,147 | 1,837 | ||||||
| Prepaid expenses and other current assets | 2,859 | 3,250 | ||||||
| Total current assets | 191,806 | 217,272 | ||||||
| Property and equipment, net | 2,055 | 2,313 | ||||||
| Operating lease right-of-use assets | 1,405 | 2,132 | ||||||
| Contract costs, long-term | 1,823 | 1,507 | ||||||
| Other non-current assets | 2,436 | 2,188 | ||||||
| Total assets | $ | 199,525 | $ | 225,412 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 2,182 | $ | 1,143 | ||||
| Accrued liabilities | 10,907 | 10,052 | ||||||
| Contract liabilities, current | 136 | 97 | ||||||
| Operating lease liability, current | 1,177 | 1,088 | ||||||
| Other current liabilities | 766 | 609 | ||||||
| Total current liabilities | 15,168 | 12,989 | ||||||
| Long-term liabilities | ||||||||
| Notes payable, long-term | 19,745 | 19,558 | ||||||
| Contract liabilities, long-term | 3 | 30 | ||||||
| Other liabilities, long-term | 106 | 356 | ||||||
| Operating lease liability, long-term | 422 | 1,314 | ||||||
| Total long-term liabilities | 20,276 | 21,258 | ||||||
| Total liabilities | $ | 35,444 | $ | 34,247 | ||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Preferred stock, | ||||||||
| Authorized shares: 10,000,000 as of both September 30, 2025 and December 31, 2024 | ||||||||
| Issued and outstanding shares: none as of both September 30, 2025 and December 31, 2024 | — | — | ||||||
| Common stock, | ||||||||
| Authorized shares: 500,000,000 as of both September 30, 2025 and December 31, 2024 | ||||||||
| Issued and outstanding shares: 37,048,397 and 35,850,606 as of September 30, 2025 and December 31, 2024, respectively | 38 | 36 | ||||||
| Additional paid-in capital | 370,733 | 358,073 | ||||||
| Accumulated other comprehensive loss | 139 | — | ||||||
| Accumulated deficit | (206,829 | ) | (166,944 | ) | ||||
| Total stockholders’ equity | 164,081 | 191,165 | ||||||
| Total liabilities and stockholders’ equity | $ | 199,525 | $ | 225,412 | ||||
FAQ
What were Ceribell (CBLL) Q3 2025 total revenues and growth rate?
How much subscription revenue did Ceribell (CBLL) report in Q3 2025?
What guidance did Ceribell (CBLL) provide for full‑year 2025 revenue?
What was Ceribell's (CBLL) Q3 2025 net loss and cash position?
How many active accounts did Ceribell (CBLL) report at the end of Q3 2025?
