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NeuroPace, Inc.(NPCE)Earnings, Financials & Key Ratios
NPCE•NASDAQ
$19.29
$648M mkt cap·Price updated May 7, 2026
AboutNeuroPace, Inc. operates as a medical device company in the United States. It develops and sells RNS system, a brain-responsive neuromodulation system for treating medically refractory focal epilepsy by delivering personalized real-time treatment at the seizure source. The company's RNS system also records continuous brain activity data; and enables clinicians to monitor patients in person and remotely. It sells its products to hospital facilities for initial RNS system implant procedures and for replacement procedures. The company was incorporated in 1997 and is headquartered in Mountain View, California.Show more
- Revenue$100M+25.1%
- EBITDA-$16M+17.9%
- Net Income$0+100.0%
- EPS (Diluted)-0.66+29.0%
- Gross Margin77.23%+4.4%
- EBITDA Margin-16.34%+34.4%
- Operating Margin-16.34%+39.7%
- ROIC-18.01%+20.8%
- Debt/Equity3.72-59.3%
NPCE Key Insights
NeuroPace, Inc. (NPCE) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Momentum leader: RS Rating 87 (top 13%)
- ✓Strong 5Y sales CAGR of 19.4%
- ✓Trading near 52-week high
✗Weaknesses
- ✗High debt to equity ratio of 3.7x
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Shares diluted 12.3% in last year
- ✗Expensive at 33.2x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NPCE Price & Volume
NeuroPace, Inc. (NPCE) stock price & volume — 10-year historical chart
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NPCE Growth Metrics
NeuroPace, Inc. (NPCE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years19.44%
3 Years29.99%
TTM25.13%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-17.59%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM30.53%
Return on Capital
10 Years-27.45%
5 Years-27.31%
3 Years-24.28%
Last Year-19.54%
NPCE Recent Earnings
NeuroPace, Inc. (NPCE) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Mar 3, 2026EPS
$0.08
Est $0.14
+42.9%
Revenue
$27M
Est $25M
+7.4%
Q4 2025
Nov 4, 2025EPS
$0.11
Est $0.20
+45.0%
Revenue
$27M
Est $25M
+9.3%
Q3 2025
Aug 12, 2025EPS
$0.26
Est $0.24
-8.3%
Revenue
$24M
Est $24M
-3.7%
Q2 2025
May 13, 2025EPS
$0.21
Est $0.26
+19.2%
Revenue
$23M
Est $23M
-0.8%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 3, 2026 | $0.08vs $0.14+42.9% | $27Mvs $25M+7.4% |
| Q4 2025 | Nov 4, 2025 | $0.11vs $0.20+45.0% | $27Mvs $25M+9.3% |
| Q3 2025 | Aug 12, 2025 | $0.26vs $0.24-8.3% | $24Mvs $24M-3.7% |
| Q2 2025 | May 13, 2025 | $0.21vs $0.26+19.2% | $23Mvs $23M-0.8% |
Based on last 12 quarters of dataView full earnings history →
NPCE Peer Comparison
NeuroPace, Inc. (NPCE) competitors in Neuromodulation and neuro devices — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 LIVN | 3.88B | 70.93 | -15.94 | 10.74% | 7.47% | 9.13% | 0.39 | |
 ELMD | 222.39M | 26.86 | 31.23 | 16.97% | 13.06% | 19.79% | 0.00 | |
 MDT | 99.94B | 77.96 | 21.60 | 3.62% | 13% | 9.45% | 0.59 | |
 ABT | 151.3B | 87.01 | 11.39 | 4.59% | 31.88% | 27.26% | 0.32 | |
 BSX | 84.08B | 56.58 | 29.16 | 19.87% | 14.4% | 12.4% | 0.51 | |
 NVCR | 1.92B | 16.83 | -13.80 | 8.28% | -25.66% | -50.82% | 0.85 | |
 INVA | 1.93B | 22.80 | 6.91 | 18.52% | 118.91% | 46.47% | 0.23 | |
 ISRG | 161.07B | 453.49 | 57.62 | 20.51% | 28.15% | 16.89% | 0.02 |
Compare NPCE vs Peers
NeuroPace, Inc. (NPCE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NPCE Income Statement
NeuroPace, Inc. (NPCE) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 36.97M | 41.14M | 45.18M | 45.52M | 65.42M | 79.91M | 99.99M |
| Revenue Growth % | - | 11.27% | 9.83% | 0.75% | 43.72% | 22.14% | 25.13% |
| Cost of Goods Sold | 10.51M | 10.87M | 11.75M | 13.03M | 17.3M | 20.82M | 22.77M |
| COGS % of Revenue | 28.42% | 26.41% | 26% | 28.62% | 26.44% | 26.06% | 22.77% |
| Gross Profit | 26.46M▲ 0% | 30.27M▲ 14.4% | 33.44M▲ 10.4% | 32.49M▼ 2.8% | 48.12M▲ 48.1% | 59.09M▲ 22.8% | 77.22M▲ 30.7% |
| Gross Margin % | 71.58% | 73.59% | 74% | 71.38% | 73.56% | 73.94% | 77.23% |
| Gross Profit Growth % | - | 14.39% | 10.45% | -2.82% | 48.1% | 22.78% | 30.69% |
| Operating Expenses | 48.49M | 43.32M | 57.17M | 73.29M | 75.3M | 80.76M | 93.56M |
| OpEx % of Revenue | 131.17% | 105.31% | 126.53% | 161% | 115.09% | 101.06% | 93.57% |
| Selling, General & Admin | 30.2M | 27.63M | 38.96M | 51.34M | 54.52M | 57.1M | 65.67M |
| SG&A % of Revenue | 81.69% | 67.16% | 86.23% | 112.79% | 83.33% | 71.46% | 65.68% |
| Research & Development | 18.29M | 15.7M | 18.21M | 21.95M | 20.78M | 23.65M | 27.89M |
| R&D % of Revenue | 49.48% | 38.15% | 40.3% | 48.21% | 31.76% | 29.6% | 27.89% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -22.03M▲ 0% | -13.05M▲ 40.8% | -23.74M▼ 81.9% | -40.79M▼ 71.9% | -27.17M▲ 33.4% | -21.67M▲ 20.3% | -16.34M▲ 24.6% |
| Operating Margin % | -59.59% | -31.72% | -52.54% | -89.62% | -41.54% | -27.12% | -16.34% |
| Operating Income Growth % | - | 40.76% | -81.88% | -71.86% | 33.39% | 20.25% | 24.61% |
| EBITDA | -21.61M | -12.74M | -23.44M | -37.81M | -25.57M | -19.9M | -16.34M |
| EBITDA Margin % | -58.45% | -30.97% | -51.88% | -83.06% | -39.08% | -24.91% | -16.34% |
| EBITDA Growth % | - | 41.05% | -84.01% | -61.29% | 32.37% | 22.16% | 17.91% |
| D&A (Non-Cash Add-back) | 421K | 312K | 296K | 2.99M | 1.6M | 1.77M | 0 |
| EBIT | -20.49M | -12.79M | -28.67M | -39.55M | -24.44M | -18.34M | 0 |
| Net Interest Income | -9.22M | -11.45M | -6.96M | -5.95M | -5.47M | -5.77M | 0 |
| Interest Income | 261K | 41K | 448K | 1.58M | 3.05M | 3.02M | 2.82M |
| Interest Expense | 9.48M | 11.49M | 7.41M | 7.53M | 8.52M | 8.8M | -7.46M |
| Other Income/Expense | -7.94M | -11.23M | -12.34M | -6.29M | -5.78M | -5.47M | 0 |
| Pretax Income | -29.97M▲ 0% | -24.28M▲ 19.0% | -36.08M▼ 48.6% | -47.08M▼ 30.5% | -32.96M▲ 30.0% | -27.14M▲ 17.6% | 0▲ 100.0% |
| Pretax Margin % | -81.07% | -59.02% | -79.85% | -103.43% | -50.38% | -33.97% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | - |
| Net Income | -29.97M▲ 0% | -24.28M▲ 19.0% | -36.08M▼ 48.6% | -47.08M▼ 30.5% | -32.96M▲ 30.0% | -27.14M▲ 17.6% | 0▲ 100.0% |
| Net Margin % | -81.07% | -59.02% | -79.85% | -103.43% | -50.38% | -33.97% | - |
| Net Income Growth % | - | 19% | -48.61% | -30.49% | 30% | 17.64% | 100% |
| Net Income (Continuing) | -29.97M | -24.28M | -36.08M | -47.08M | -32.96M | -27.14M | 0 |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.70▲ 0% | -2.17▲ 19.6% | -2.17▲ 0.0% | -1.91▲ 12.0% | -1.27▲ 33.5% | -0.93▲ 26.8% | -0.66▲ 29.0% |
| EPS Growth % | - | 19.63% | 0% | 11.98% | 33.51% | 26.77% | 29.03% |
| EPS (Basic) | -2.70 | -2.17 | -2.17 | -1.91 | -1.27 | -0.93 | -0.66 |
| Diluted Shares Outstanding | 11.1M | 11.1M | 16.61M | 24.59M | 25.85M | 29.13M | 32.72M |
| Basic Shares Outstanding | 11.1M | 11.1M | 16.61M | 24.59M | 25.85M | 29.13M | 32.72M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
NPCE Balance Sheet
NeuroPace, Inc. (NPCE) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 20.26M | 54.56M | 132.82M | 97.71M | 92.72M | 81.34M | 94.07M |
| Cash & Short-Term Investments | 5.09M | 38.08M | 115.58M | 77.41M | 66.45M | 52.76M | 61.06M |
| Cash Only | 4.12M | 26.39M | 19.19M | 6.61M | 18.06M | 13.43M | 21.69M |
| Short-Term Investments | 969K | 11.69M | 96.4M | 70.8M | 48.4M | 39.33M | 39.37M |
| Accounts Receivable | 6.02M | 8.39M | 7.09M | 7.48M | 12.31M | 12.85M | 14.68M |
| Days Sales Outstanding | 59.4 | 74.49 | 57.28 | 59.99 | 68.7 | 58.7 | 53.59 |
| Inventory | 7.9M | 6.91M | 7.82M | 9.71M | 11.21M | 13.38M | 16.9M |
| Days Inventory Outstanding | 274.41 | 232.08 | 243.02 | 272.12 | 236.61 | 234.57 | 270.89 |
| Other Current Assets | 0 | 0 | 0 | 3.11M | 2.74M | 2.35M | 1.44M |
| Total Non-Current Assets | 835K | 1.39M | 746K | 16.39M | 14.93M | 13.31M | 11.49M |
| Property, Plant & Equipment | 810K | 515K | 603K | 15.9M | 14.41M | 12.89M | 11.26M |
| Fixed Asset Turnover | 45.64x | 79.88x | 74.93x | 2.86x | 4.54x | 6.20x | 8.88x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 25K | 873K | 143K | 490K | 524K | 413K | 235K |
| Total Assets | 21.09M▲ 0% | 55.95M▲ 165.2% | 133.56M▲ 138.7% | 114.11M▼ 14.6% | 107.65M▼ 5.7% | 94.65M▼ 12.1% | 105.56M▲ 11.5% |
| Asset Turnover | 1.75x | 0.74x | 0.34x | 0.40x | 0.61x | 0.84x | 0.95x |
| Asset Growth % | - | 165.23% | 138.72% | -14.57% | -5.66% | -12.08% | 11.54% |
| Total Current Liabilities | 75.15M | 9.6M | 9.3M | 10.98M | 16.23M | 15.16M | 17.81M |
| Accounts Payable | 903K | 949K | 1.38M | 2.15M | 2.33M | 2.95M | 2.22M |
| Days Payables Outstanding | 31.37 | 31.88 | 42.81 | 60.16 | 49.2 | 51.78 | 35.54 |
| Short-Term Debt | 62.8M | 2.04M | 0 | 0 | 0 | 0 | 2.12M |
| Deferred Revenue (Current) | 6.73M | 0 | 0 | 0 | 1.09M | 555K | 141K |
| Other Current Liabilities | 1.01M | 666K | 490K | 0 | 0 | 0 | 15.56M |
| Current Ratio | 0.27x | 5.69x | 14.28x | 8.90x | 5.71x | 5.37x | 5.28x |
| Quick Ratio | 0.16x | 4.97x | 13.44x | 8.02x | 5.02x | 4.48x | 4.33x |
| Cash Conversion Cycle | 302.45 | 274.69 | 257.49 | 271.96 | 256.11 | 241.49 | 288.94 |
| Total Non-Current Liabilities | 75.3M | 194.19M | 50.76M | 68.35M | 70.77M | 71.48M | 68.72M |
| Long-Term Debt | 0 | 50.82M | 49.85M | 52.91M | 56.95M | 59.52M | 68.72M |
| Capital Lease Obligations | 0 | 0 | 0 | 15.44M | 13.81M | 11.95M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 75.3M | 143.37M | 911K | 0 | 0 | 0 | 0 |
| Total Liabilities | 150.44M | 203.78M | 60.06M | 79.33M | 87M | 86.63M | 86.53M |
| Total Debt | 62.8M | 52.86M | 49.85M | 69.77M | 72.39M | 73.34M | 70.84M |
| Net Debt | 58.68M | 26.47M | 30.66M | 63.16M | 54.34M | 59.91M | 49.15M |
| Debt / Equity | - | - | 0.68x | 2.01x | 3.51x | 9.15x | 3.72x |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - |
| Interest Coverage | -2.32x | -1.14x | -3.20x | -5.42x | -3.19x | -2.46x | - |
| Total Equity | -129.35M▲ 0% | -147.83M▼ 14.3% | 73.5M▲ 149.7% | 34.78M▼ 52.7% | 20.65M▼ 40.6% | 8.01M▼ 61.2% | 19.03M▲ 137.5% |
| Equity Growth % | - | -14.29% | 149.72% | -52.69% | -40.61% | -61.2% | 137.5% |
| Book Value per Share | -11.65 | -13.31 | 4.43 | 1.41 | 0.80 | 0.28 | 0.58 |
| Total Shareholders' Equity | -129.35M | -147.83M | 73.5M | 34.78M | 20.65M | 8.01M | 19.03M |
| Common Stock | 1K | 0 | 24K | 25K | 28K | 30K | 34K |
| Retained Earnings | -363.64M | -387.69M | -423.77M | -470.85M | -503.81M | -530.95M | -552.41M |
| Treasury Stock | -73.57M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1K | 33K | -272K | -1.11M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NPCE Cash Flow Statement
NeuroPace, Inc. (NPCE) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -25.03M | -21.61M | -24.58M | -36.87M | -19.7M | -17.95M | -11.01M |
| Operating CF Margin % | -67.69% | -52.53% | -54.39% | -81% | -30.11% | -22.46% | -11.01% |
| Operating CF Growth % | - | 13.65% | -13.73% | -50.01% | 46.56% | 8.89% | 38.68% |
| Net Income | -29.97M | -24.28M | -36.08M | -47.08M | -32.96M | -27.14M | -21.46M |
| Depreciation & Amortization | 421K | 312K | 296K | 2.99M | 1.6M | 1.77M | 1.95M |
| Stock-Based Compensation | 1.44M | 1.38M | 4.29M | 8.35M | 9.56M | 10.28M | 11.09M |
| Deferred Taxes | 0 | 0 | 5.48M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 3.08M | 3.04M | 1.07M | 3.67M | 4.58M | 2.59M | -2.58M |
| Working Capital Changes | 9K | -2.07M | 368K | -4.79M | -2.48M | -5.45M | 0 |
| Change in Receivables | -750K | -2.38M | 1.3M | -391K | -4.85M | -537K | -1.83M |
| Change in Inventory | -1.64M | 672K | -1.16M | -2.13M | -1.7M | 251K | 159K |
| Change in Payables | -82K | -5K | 479K | 647K | 240K | 671K | -730K |
| Cash from Investing | 3.62M | -10.77M | -85.4M | 23.8M | 23.03M | 8.99M | -332K |
| Capital Expenditures | -468K | -62K | -384K | -603K | -173K | -306K | 0 |
| CapEx % of Revenue | 1.27% | 0.15% | 0.85% | 1.32% | 0.26% | 0.38% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 4K | 0 | 0 | 0 | 0 | 0 | -332K |
| Cash from Financing | 21.37M | 55.01M | 102.53M | 490K | 8.13M | 4.33M | 19.6M |
| Debt Issued (Net) | 21.33M | 24.46M | -4.09M | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 1000K | 1000K | 0 | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -49.55M |
| Other Financing | 42K | -1.15M | -2.47M | 490K | 239K | 1.05M | 19.6M |
| Net Change in Cash | -38K▲ 0% | 22.63M▲ 59660.5% | -7.45M▼ 132.9% | -12.58M▼ 69.0% | 11.45M▲ 191.0% | -4.63M▼ 140.4% | 8.26M▲ 278.5% |
| Free Cash Flow | -25.49M▲ 0% | -21.67M▲ 15.0% | -24.96M▼ 15.2% | -37.47M▼ 50.1% | -19.87M▲ 47.0% | -18.25M▲ 8.1% | -11.01M▲ 39.7% |
| FCF Margin % | -68.95% | -52.68% | -55.24% | -82.32% | -30.38% | -22.85% | -11.01% |
| FCF Growth % | - | 15% | -15.18% | -50.12% | 46.96% | 8.15% | 39.71% |
| FCF per Share | -2.30 | -1.95 | -1.50 | -1.52 | -0.77 | -0.63 | -0.34 |
| FCF Conversion (FCF/Net Income) | 0.83x | 0.89x | 0.68x | 0.78x | 0.60x | 0.66x | - |
| Interest Paid | 5.42M | 4.41M | 0 | 4.46M | 4.48M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NPCE Key Ratios
NeuroPace, Inc. (NPCE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -49.09% | -86.96% | -118.91% | -189.35% | - |
| Return on Invested Capital (ROIC) | - | - | - | -30.28% | -23.57% | -22.75% | -18.01% |
| Gross Margin | 71.58% | 73.59% | 74% | 71.38% | 73.56% | 73.94% | 77.23% |
| Net Margin | -81.07% | -59.02% | -79.85% | -103.43% | -50.38% | -33.97% | - |
| Debt / Equity | - | - | 0.68x | 2.01x | 3.51x | 9.15x | 3.72x |
| Interest Coverage | -2.32x | -1.14x | -3.20x | -5.42x | -3.19x | -2.46x | - |
| FCF Conversion | 0.83x | 0.89x | 0.68x | 0.78x | 0.60x | 0.66x | - |
| Revenue Growth | - | 11.27% | 9.83% | 0.75% | 43.72% | 22.14% | 25.13% |
NPCE SEC Filings & Documents
NeuroPace, Inc. (NPCE) SEC filings — annual & quarterly reports (10-K, 10-Q)
NPCE Frequently Asked Questions
NeuroPace, Inc. (NPCE) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
NeuroPace, Inc. (NPCE) reported $100.0M in revenue for fiscal year 2025. This represents a 170% increase from $37.0M in 2019.
NeuroPace, Inc. (NPCE) grew revenue by 25.1% over the past year. This is strong growth.
NeuroPace, Inc. (NPCE) reported a net loss of $31.9M for fiscal year 2025.
Dividend & Returns
NeuroPace, Inc. (NPCE) had negative free cash flow of $11.2M in fiscal year 2025, likely due to heavy capital investments.
Explore More NPCE
NeuroPace, Inc. (NPCE) financial analysis — history, returns, DCA and operating performance tools
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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