NeurAxis, Inc.(NRXS)Earnings, Financials & Key Ratios
NRXS•NASDAQ
$8.69
$93M mkt cap·Price updated May 6, 2026
AboutNeurAxis, Inc. operates as a neuromodulation therapy device company in the United States. It offers IB-Stim, a percutaneous electrical nerve field stimulation system intended to be used in patients 11-18 years of age with functional abdominal pain associated with irritable bowel syndrome healthcare companies primarily hospitals and clinics. The company was formerly known as Innovative Health Solutions, Inc. and changed its name to NeurAxis, Inc. in March 2022. The company was founded in 2011 and is headquartered in Carmel, Indiana.Show more
- Revenue$4M+32.9%
- EBITDA-$8M-10.0%
- Net Income-$8M+5.4%
- EPS (Diluted)-0.95+22.1%
- Gross Margin84.23%-2.7%
- EBITDA Margin-219.37%+17.2%
- Operating Margin-219.37%+17.7%
- Net Margin-218.55%+28.8%
- ROE-285.36%+88.5%
- ROIC-477.88%
- Debt/Equity0.06-72.5%
NRXS Key Insights
NeurAxis, Inc. (NRXS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Momentum leader: RS Rating 96 (top 4%)
- ✓Strong 5Y sales CAGR of 13.1%
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Negative free cash flow
- ✗Shares diluted 31.3% in last year
- ✗Expensive at 23.2x book value
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NRXS Price & Volume
NeurAxis, Inc. (NRXS) stock price & volume — 10-year historical chart
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NRXS Growth Metrics
NeurAxis, Inc. (NRXS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years13.08%
3 Years9.96%
TTM32.89%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM5.35%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM22.76%
Return on Capital
10 Years-687.76%
5 Years-839.88%
3 Years-993.82%
Last Year-477.88%
NRXS Peer Comparison
NeurAxis, Inc. (NRXS) competitors in Neuroscience and Psychiatry Therapies — 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 | 3.15B | 57.59 | -12.94 | 10.74% | -17.47% | -20.21% | 5.5% | 0.39 |
 ELMD | 213.7M | 25.81 | 30.01 | 16.97% | 13.06% | 19.79% | 5.19% | 0.00 |
 STIM | 150.99M | 2.17 | -3.68 | 99.17% | -24.48% | -139.83% | 3.44 | |
 MDT | 99.73B | 77.79 | 21.55 | 3.62% | 13% | 9.45% | 5.2% | 0.59 |
 ABT | 151.59B | 87.18 | 11.41 | 4.59% | 31.88% | 27.26% | 4.19% | 0.32 |
 BSX | 83.2B | 55.98 | 28.86 | 19.87% | 14.4% | 12.4% | 4.4% | 0.51 |
 GKOS | 7.81B | 133.42 | -40.68 | 32.33% | -34.34% | -26.46% | 0.21 | |
 HOLX | 16.97B | 76.01 | 30.53 | 1.74% | 13.18% | 10.37% | 5.42% | 0.52 |
Compare NRXS vs Peers
NeurAxis, Inc. (NRXS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NRXS Income Statement
NeurAxis, Inc. (NRXS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Sales/Revenue | 1.93M | 2.72M | 2.68M | 2.46M | 2.69M | 3.57M |
| Revenue Growth % | - | 40.98% | -1.34% | -8.37% | 9.18% | 32.89% |
| Cost of Goods Sold | 481.09K | 467.66K | 297.06K | 303.35K | 362K | 562.92K |
| COGS % of Revenue | 24.92% | 17.19% | 11.06% | 12.33% | 13.48% | 15.77% |
| Gross Profit | 1.45M▲ 0% | 2.25M▲ 55.5% | 2.39M▲ 5.9% | 2.16M▼ 9.7% | 2.32M▲ 7.8% | 3.01M▲ 29.4% |
| Gross Margin % | 75.08% | 82.81% | 88.94% | 87.67% | 86.52% | 84.23% |
| Gross Profit Growth % | - | 55.52% | 5.95% | -9.67% | 7.75% | 29.37% |
| Operating Expenses | 5.57M | 5.22M | 5.76M | 8.82M | 9.48M | 10.84M |
| OpEx % of Revenue | 288.56% | 191.96% | 214.54% | 358.58% | 352.98% | 303.6% |
| Selling, General & Admin | 5.4M | 5.02M | 5.53M | 8.65M | 9.27M | 10.34M |
| SG&A % of Revenue | 279.92% | 184.48% | 206.14% | 351.7% | 345.31% | 289.77% |
| Research & Development | 166.8K | 203.41K | 225.61K | 169.31K | 206.11K | 493.61K |
| R&D % of Revenue | 8.64% | 7.47% | 8.4% | 6.88% | 7.67% | 13.83% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -4.12M▲ 0% | -2.97M▲ 27.9% | -3.37M▼ 13.5% | -6.66M▼ 97.6% | -7.16M▼ 7.4% | -7.83M▼ 9.4% |
| Operating Margin % | -213.48% | -109.14% | -125.61% | -270.91% | -266.46% | -219.37% |
| Operating Income Growth % | - | 27.92% | -13.54% | -97.63% | -7.39% | -9.4% |
| EBITDA | -4.08M | -2.93M | -3.34M | -6.62M | -7.12M | -7.83M |
| EBITDA Margin % | -211.63% | -107.79% | -124.22% | -269.25% | -265.05% | -219.37% |
| EBITDA Growth % | - | 28.19% | -13.7% | -98.61% | -7.48% | -9.99% |
| D&A (Non-Cash Add-back) | 35.79K | 36.71K | 37.13K | 40.73K | 37.83K | 0 |
| EBIT | -3.65M | -2.99M | -4.36M | -9.27M | -7.94M | 0 |
| Net Interest Income | -75.67K | -36.93K | -2.74M | -5.36M | -300.71K | 0 |
| Interest Income | 37 | 0 | -2.32M | -2.77K | 0 | 0 |
| Interest Expense | 75.71K | 36.93K | 417.6K | 5.36M | 300.71K | -73.97K |
| Other Income/Expense | 394.59K | -58K | -1.41M | -7.96M | -1.08M | 29.35K |
| Pretax Income | -3.73M▲ 0% | -3.03M▲ 18.7% | -4.78M▼ 57.9% | -14.63M▼ 206.0% | -8.24M▲ 43.7% | -7.8M▲ 5.4% |
| Pretax Margin % | -193.04% | -111.27% | -178.05% | -594.57% | -306.84% | -218.55% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -3.73M▲ 0% | -3.03M▲ 18.7% | -4.78M▼ 57.9% | -14.63M▼ 206.0% | -8.24M▲ 43.7% | -7.8M▲ 5.4% |
| Net Margin % | -193.04% | -111.27% | -178.05% | -594.57% | -306.84% | -218.55% |
| Net Income Growth % | - | 18.74% | -57.86% | -205.99% | 43.65% | 5.35% |
| Net Income (Continuing) | -3.73M | -3.03M | -4.78M | -14.63M | -8.24M | -7.8M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.80▲ 0% | -0.62▲ 22.5% | -0.78▼ 25.8% | -2.32▼ 197.4% | -1.22▲ 47.4% | -0.95▲ 22.1% |
| EPS Growth % | - | 22.5% | -25.81% | -197.44% | 47.41% | 22.13% |
| EPS (Basic) | -0.80 | -0.62 | -0.57 | -2.32 | -1.22 | -0.95 |
| Diluted Shares Outstanding | 5.38M | 5.38M | 8.41M | 6.3M | 6.92M | 9.08M |
| Basic Shares Outstanding | 5.38M | 5.38M | 8.41M | 6.3M | 6.92M | 9.08M |
| Dividend Payout Ratio | - | - | - | - | - | - |
NRXS Balance Sheet
NeurAxis, Inc. (NRXS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Total Current Assets | 2.46M | 491.01K | 476.96K | 242.61K | 4.27M | 0 |
| Cash & Short-Term Investments | 1.9M | 320.86K | 253.7K | 78.56K | 3.7M | 0 |
| Cash Only | 1.9M | 320.86K | 253.7K | 78.56K | 3.7M | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 311.33K | 115.3K | 174.4K | 73.17K | 244.62K | 0 |
| Days Sales Outstanding | 58.87 | 15.47 | 23.71 | 10.86 | 33.24 | - |
| Inventory | 106.85K | 39.18K | 48.13K | 21.22K | 44.33K | 0 |
| Days Inventory Outstanding | 81.06 | 30.58 | 59.14 | 25.53 | 44.7 | - |
| Other Current Assets | 0 | 0 | 726 | 69.66K | 280.37K | 0 |
| Total Non-Current Assets | 327.6K | 269.47K | 1M | 266.89K | 491.39K | 0 |
| Property, Plant & Equipment | 301.7K | 245.52K | 189.39K | 158.81K | 374.64K | 0 |
| Fixed Asset Turnover | 6.40x | 11.08x | 14.18x | 15.49x | 7.17x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 25.9K | 23.96K | 77.56K | 108.07K | 96.59K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 736.74K | 0 | 20.16K | 0 |
| Total Assets | 2.79M▲ 0% | 760.48K▼ 72.7% | 1.48M▲ 94.7% | 509.5K▼ 65.6% | 4.76M▲ 833.8% | 0▼ 100.0% |
| Asset Turnover | 0.69x | 3.58x | 1.81x | 4.83x | 0.56x | - |
| Asset Growth % | - | -72.74% | 94.7% | -65.59% | 833.78% | -100% |
| Total Current Liabilities | 1.01M | 1.42M | 6.98M | 1.89M | 2.43M | 2.79M |
| Accounts Payable | 164.56K | 483.79K | 1.59M | 1.2M | 596.95K | 139.37K |
| Days Payables Outstanding | 124.85 | 377.59 | 1.96K | 1.45K | 601.89 | 90.37 |
| Short-Term Debt | 151K | 250.41K | 489.23K | 148.06K | 154.15K | 214.04K |
| Deferred Revenue (Current) | 0 | 69.34K | 59.17K | 74.95K | 32.53K | 28.66K |
| Other Current Liabilities | 8.49K | 43.84K | 4.51M | 341.7K | 1.27M | 2.55M |
| Current Ratio | 2.44x | 0.34x | 0.07x | 0.13x | 1.75x | - |
| Quick Ratio | 2.33x | 0.32x | 0.06x | 0.12x | 1.74x | - |
| Cash Conversion Cycle | 15.09 | -331.55 | -1.87K | -1.41K | -523.95 | - |
| Total Non-Current Liabilities | 137.18K | 161.29K | 76.2K | 27.07K | 256.5K | 212.56K |
| Long-Term Debt | 0 | 51.69K | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 137.18K | 109.59K | 76.2K | 27.07K | 256.5K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 212.56K |
| Total Liabilities | 1.15M | 1.59M | 7.05M | 1.91M | 2.69M | 3M |
| Total Debt | 311.49K | 439.27K | 598.82K | 224.26K | 473.4K | 214.04K |
| Net Debt | -1.58M | 118.42K | 345.12K | 145.7K | -3.22M | 214.04K |
| Debt / Equity | 0.19x | - | - | - | 0.23x | 0.06x |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - |
| Interest Coverage | -54.43x | -80.43x | -8.08x | -1.24x | -23.80x | - |
| Total Equity | 1.64M▲ 0% | -825.66K▼ 150.2% | -5.57M▼ 575.0% | -1.4M▲ 74.8% | 2.07M▲ 247.4% | 3.4M▲ 64.4% |
| Equity Growth % | - | -150.23% | -575.05% | 74.82% | 247.36% | 64.4% |
| Book Value per Share | 0.31 | -0.15 | -0.66 | -0.22 | 0.30 | 0.37 |
| Total Shareholders' Equity | 1.64M | -825.66K | -5.57M | -1.4M | 2.07M | 3.4M |
| Common Stock | 2.52K | 2.55K | 1.96K | 6.51K | 6.99K | 10.65K |
| Retained Earnings | -26.12M | -29.15M | -33.93M | -48.56M | -56.8M | -64.6M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
NRXS Cash Flow Statement
NeurAxis, Inc. (NRXS) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Cash from Operations | -4.14M | -2.23M | -2.3M | -6.69M | -6.1M | -6.43M |
| Operating CF Margin % | -214.45% | -82.11% | -85.6% | -272.11% | -227.05% | -180.23% |
| Operating CF Growth % | - | 46.02% | -2.85% | -191.3% | 8.9% | -5.49% |
| Net Income | -3.73M | -3.03M | -4.78M | -14.63M | -8.24M | -7.8M |
| Depreciation & Amortization | 35.79K | 36.71K | 37.13K | 40.73K | 37.83K | 59.5K |
| Stock-Based Compensation | 48.77K | 48.64K | 27.32K | 750K | 1.4M | 596.85K |
| Deferred Taxes | 0 | 41.11K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -202.29K | 22.81K | 1.15M | 7.81M | 559.82K | 711.36K |
| Working Capital Changes | -295.45K | 644.43K | 1.27M | -665.75K | 141.4K | 0 |
| Change in Receivables | -223.01K | 184.26K | -78.6K | 75.95K | -178.84K | 2.33K |
| Change in Inventory | 323.76K | 67.67K | -8.95K | 26.91K | -32.5K | -242.87K |
| Change in Payables | -664.25K | 319.23K | 1.11M | -387.9K | -607.27K | -457.58K |
| Cash from Investing | -27.72K | -1.39K | -61.2K | -71.78K | -27.78K | -131.15K |
| Capital Expenditures | -27.72K | -1.39K | -1.39K | -30.78K | -27.78K | -31.15K |
| CapEx % of Revenue | 1.44% | 0.05% | 0.05% | 1.25% | 1.03% | 0.87% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -59.81K | -41K | 0 | -100K |
| Cash from Financing | 6.05M | 661.1K | 2.29M | 6.59M | 9.74M | 7.83M |
| Debt Issued (Net) | -716.94K | 151.09K | 3.16M | 2.07M | 4.66M | 0 |
| Equity Issued (Net) | 1000K | 1000K | 0 | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 2.73M | -510K | -866.74K | -322.9K | -168.32K | 7.83M |
| Net Change in Cash | 1.89M▲ 0% | -1.57M▼ 183.4% | -67.16K▲ 95.7% | -175.14K▼ 160.8% | 3.62M▲ 2166.0% | 1.27M▼ 65.0% |
| Free Cash Flow | -4.17M▲ 0% | -2.24M▲ 46.3% | -2.36M▼ 5.5% | -6.77M▼ 186.8% | -6.13M▲ 9.5% | -6.46M▼ 5.5% |
| FCF Margin % | -215.88% | -82.16% | -87.87% | -275.03% | -228.08% | -181.1% |
| FCF Growth % | - | 46.35% | -5.52% | -186.78% | 9.46% | -5.52% |
| FCF per Share | -0.77 | -0.42 | -0.28 | -1.07 | -0.89 | -0.71 |
| FCF Conversion (FCF/Net Income) | 1.11x | 0.74x | 0.48x | 0.46x | 0.74x | 0.82x |
| Interest Paid | 74.49K | 0 | 202.78K | 214.56K | 33.83K | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 10.16K | 0 |
NRXS Key Ratios
NeurAxis, Inc. (NRXS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -226.69% | -740.29% | - | - | -2480.49% | -285.36% |
| Return on Invested Capital (ROIC) | - | - | - | - | - | -477.88% |
| Gross Margin | 75.08% | 82.81% | 88.94% | 87.67% | 86.52% | 84.23% |
| Net Margin | -193.04% | -111.27% | -178.05% | -594.57% | -306.84% | -218.55% |
| Debt / Equity | 0.19x | - | - | - | 0.23x | 0.06x |
| Interest Coverage | -54.43x | -80.43x | -8.08x | -1.24x | -23.80x | - |
| FCF Conversion | 1.11x | 0.74x | 0.48x | 0.46x | 0.74x | 0.82x |
| Revenue Growth | - | 40.98% | -1.34% | -8.37% | 9.18% | 32.89% |
NRXS Frequently Asked Questions
NeurAxis, Inc. (NRXS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
NeurAxis, Inc. (NRXS) reported $3.6M in revenue for fiscal year 2025. This represents a 85% increase from $1.9M in 2020.
NeurAxis, Inc. (NRXS) grew revenue by 32.9% over the past year. This is strong growth.
NeurAxis, Inc. (NRXS) reported a net loss of $7.8M for fiscal year 2025.
Dividend & Returns
NeurAxis, Inc. (NRXS) has a return on equity (ROE) of -285.4%. Negative ROE indicates the company is unprofitable.
NeurAxis, Inc. (NRXS) had negative free cash flow of $6.5M in fiscal year 2025, likely due to heavy capital investments.
Explore More NRXS
NeurAxis, Inc. (NRXS) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
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Dividend History
Yield, growth, payout safety & DRIP
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
DCF intrinsic value, peer multiples & estimates