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electroCore, Inc. (Nasdaq: ECOR) announced record first quarter 2024 net sales of $5.4 million, a 96% increase over first quarter 2023. The company launched Truvaga Plus, a direct-to-consumer mobile app-enabled product for general wellness. Gross profit for Q1 2024 was $4.6 million with a gross margin of 84%. Operating expenses were $8.4 million with a decrease in R&D expenses and an increase in sales and marketing investments. GAAP net loss improved to $3.5 million, or $0.53 per share, compared to $5.9 million in Q1 2023. Adjusted EBITDA net loss was $3.1 million, down from $5.1 million in Q1 2023. Cash, cash equivalents, and restricted cash as of March 31, 2024, totaled approximately $8.1 million.
electroCore, Inc. announced that Donald Melnikoff joined as SVP, Engineering, Regulatory, and Compliance, with an inducement grant of 10,000 RSUs. The RSUs were granted under NASDAQ Listing Rule 5635(c)(4) and will vest over three years.
electroCore, Inc. (Nasdaq: ECOR) will announce its first quarter financial results on May 8, 2024, after the market closes. The company, specializing in bioelectronic medicine and wellness, will hold a conference call to discuss the results and answer questions.
electroCore, Inc. (NASDAQ: ECOR) announced positive results from its recent Truvaga Plus consumer study, showing improvements in sleep, focus, stress, energy, and mood. 82% felt calmer, 82% mentally healthier, 77% more alert, 77% more relaxed, 74% slept better, 74% mood improved, and 67% had more energy. Users reported between 30 mins to 2+ hours of additional sleep per night. 87% expressed interest in continuing the product for ongoing wellness benefits.
