NeurAxis, Inc. ( (NRXS) ) has released its Q4 earnings. Here is a breakdown of the information NeurAxis, Inc. presented to its investors.
NeurAxis, Inc. is a medical technology company specializing in neuromodulation therapies for chronic and debilitating conditions in both children and adults. The company focuses on advancing its IB-Stim™ therapy, which utilizes Percutaneous Electrical Nerve Field Stimulation (PENFS) technology to address functional abdominal pain associated with irritable bowel syndrome.
NeurAxis, Inc. has reported a strong fourth quarter for 2024, highlighted by a 43% increase in revenues compared to the same period in the previous year. The company has also improved its operating loss by 10% and expanded its cash balance to $3.7 million. These results reflect the company’s strategic efforts and successful expansion in insurance coverage and product offerings.
Key financial metrics from the report include a significant increase in revenues to $761 thousand for the fourth quarter, driven by a 45% rise in unit sales. The company’s gross margin remained steady at 86.4%, while selling, general, and administrative expenses saw a modest increase due to strategic hiring and incentive plans. Additionally, NeurAxis received FDA clearance for its IB-Stim label expansion and a new rectal expulsion device, positioning the company for future growth.
NeurAxis has made notable strides in expanding its operational capabilities, increasing the number of covered lives to approximately 51 million, and securing a new CPT Category I code for PENFS procedures. The company is also committed to ongoing clinical research, with 16 peer-reviewed publications supporting its technology’s adoption.
Looking forward, NeurAxis management remains optimistic about the company’s growth prospects, with plans to further expand insurance policy coverage and secure additional FDA clearances. The company aims to achieve cash flow breakeven through disciplined cost management and continued investment in its innovative product pipeline.