Revenue grew 36.3% year over year to $12.1M in 2026Q3 with a stable 58.5% gross margin, yet operating margin of -52.4% shows the cost base still far exceeds sales.
ClearPoint Neuro, Inc. (CLPT) annual income statement — 15-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Sales/Revenue | 45.49M | 36.97M | 31.39M | 23.95M | 20.55M | 16.3M | 12.83M | 11.22M | 7.35M | 7.38M | 5.75M | 4.59M | 3.6M | 3.93M | 5.06M | 3.82M |
| Revenue Growth % | 32.51% | 17.78% | 31.04% | 16.56% | 26.09% | 27.05% | 14.37% | 52.54% | -0.36% | 28.35% | 25.15% | 27.46% | -8.3% | -22.29% | 32.48% | - |
| Cost of Goods Sold | 17.56M | 14.28M | 12.27M | 10.34M | 7.02M | 5.18M | 3.71M | 3.94M | 2.43M | 2.9M | 2.64M | 1.99M | 1.93M | 1.42M | 555.7K | 656.41K |
| COGS % of Revenue | - | 38.62% | 39.08% | 43.17% | 34.16% | 31.76% | 28.91% | 35.14% | 33.09% | 39.28% | 45.97% | 43.26% | 53.46% | 36.16% | 10.99% | 17.19% |
| Gross Profit | 27.93M | 22.69M | 19.12M | 13.61M | 13.53M | 11.12M | 9.12M | 7.28M | 4.92M | 4.48M | 3.11M | 2.61M | 1.68M | 2.51M | 4.5M | 3.16M |
| Gross Margin % | 61.39% | 61.38% | 60.92% | 56.83% | 65.84% | 68.24% | 71.09% | 64.86% | 66.91% | 60.72% | 54.03% | 56.74% | 46.53% | 63.84% | 89.01% | 82.81% |
| Gross Profit Growth % | - | 18.67% | 40.46% | 0.61% | 21.65% | 21.96% | 25.36% | 47.86% | 9.81% | 44.23% | 19.19% | 55.4% | -33.16% | -44.27% | 42.41% | - |
| Operating Expenses | 60.03M | 46.86M | 38.87M | 36.06M | 29.86M | 24.5M | 15.34M | 11.87M | 10.17M | 10.82M | 10.6M | 10.33M | 11.34M | 9.98M | 7.63M | 9.08M |
| OpEx % of Revenue | - | 126.74% | 123.82% | 150.53% | 145.31% | 150.3% | 119.57% | 105.81% | 138.28% | 146.58% | 184.29% | 224.81% | 314.51% | 254.01% | 150.88% | 237.9% |
| Selling, General & Admin | 44.02M | 32.96M | 26.48M | 24.35M | 18.97M | 15.22M | 10.65M | 9.06M | 7.86M | 8M | 7.97M | 8.37M | 8.04M | 7.06M | 6.03M | 4.83M |
| SG&A % of Revenue | - | 89.15% | 84.35% | 101.65% | 92.3% | 93.36% | 83.05% | 80.76% | 106.86% | 108.45% | 138.57% | 182.2% | 223.04% | 179.65% | 119.21% | 126.55% |
| Research & Development | 16.41M | 13.9M | 12.39M | 11.71M | 10.89M | 9.28M | 4.69M | 2.81M | 2.31M | 2.81M | 2.63M | 1.96M | 3.3M | 2.92M | 1.6M | 4.25M |
| R&D % of Revenue | - | 37.59% | 39.48% | 48.88% | 53.01% | 56.94% | 36.53% | 25.05% | 31.42% | 38.13% | 45.71% | 42.6% | 91.47% | 74.36% | 31.67% | 111.35% |
| Other Operating Expenses | -400K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 364 | 16.68K | 0 | 0 | 0 | 0 | 2.8K | 0 |
| Operating Income | -32.1M | -24.16M | -19.75M | -22.45M | -16.33M | -13.37M | -6.22M | -4.59M | -5.25M | -6.34M | -7.49M | -8.97M | -5.32M | -7.47M | -3.13M | -5.92M |
| Operating Margin % | -70.56% | -65.36% | -62.91% | -93.7% | -79.47% | -82.05% | -48.48% | -40.96% | -71.37% | -85.86% | -130.25% | -195.34% | -147.61% | -190.17% | -61.87% | -155.09% |
| Operating Income Growth % | - | -22.37% | 12.03% | -37.44% | -22.12% | -115.02% | -35.39% | 12.46% | 17.17% | 15.4% | 16.55% | -68.67% | 28.82% | -138.87% | 47.15% | - |
| EBITDA | -27.14M | -21.93M | -17.84M | -20.99M | -15.55M | -12.68M | -5.67M | -4.34M | -5.14M | -6.22M | -7.33M | -8.76M | -4.94M | -7.05M | -2.71M | -5.57M |
| EBITDA Margin % | -59.66% | -59.31% | -56.84% | -87.62% | -75.69% | -77.81% | -44.2% | -38.72% | -69.88% | -84.28% | -127.54% | -190.72% | -137.14% | -179.33% | -53.62% | -145.79% |
| EBITDA Growth % | -30.06% | -22.89% | 14.99% | -34.93% | -22.65% | -123.67% | -30.55% | 15.48% | 17.38% | 15.19% | 16.31% | -77.25% | 29.87% | -159.87% | 51.28% | - |
| D&A (Non-Cash Add-back) | 4.96M | 2.24M | 1.9M | 1.46M | 777K | 692K | 550K | 251K | 109.44K | 116.45K | 155.71K | 211.95K | 377.26K | 426.18K | 416.97K | 354.88K |
| EBIT | -31.82M | -23.1M | -18.91M | -22.09M | -16.35M | -13.44M | -5.34M | -4.58M | -5.18M | -6.29M | -7.02M | -7.19M | -3.51M | -6.59M | -3.28M | -5.81M |
| Net Interest Income | -4.01M | -1.18M | 872K | 386K | -81K | -973K | -1.44M | -955K | -980.38K | -872.93K | -1.05M | -1.25M | -1.01M | -475.3K | -2.58M | -2.49M |
| Interest Income | 932K | 1.21M | 872K | 386K | 0 | 0 | 0 | 0 | 0 | 0 | 8.81K | 16.45K | 11.62K | 24.54K | 0 | 3.48K |
| Interest Expense | 4.94M | 2.39M | 0 | 0 | 81K | 973K | 1.44M | 955K | 980.38K | 872.93K | 1.06M | 1.26M | 1.02M | 499.84K | 2.58M | 2.5M |
| Other Income/Expense | -4.07M | -1.32M | 832K | 357K | -103K | -1.04M | -562K | -946K | -915.7K | -831.52K | -581.16K | 524.86K | 795.89K | 388.5K | -2.58M | -2.39M |
| Pretax Income | -36.16M | -25.48M | -18.91M | -22.09M | -16.43M | -14.41M | -6.78M | -5.54M | -6.16M | -7.17M | -8.07M | -8.45M | -4.52M | -7.09M | -5.71M | -8.31M |
| Pretax Margin % | -79.5% | -68.93% | -60.25% | -92.21% | -79.97% | -88.41% | -52.86% | -49.39% | -83.82% | -97.12% | -140.36% | -183.91% | -125.53% | -180.29% | -112.83% | -217.68% |
| Income Tax | -30K | 55K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.17M | 0 |
| Effective Tax Rate % | 0.08% | -0.22% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -37.96% | 0% |
| Net Income | -36.13M | -25.54M | -18.91M | -22.09M | -16.43M | -14.41M | -6.78M | -5.54M | -6.16M | -7.17M | -8.07M | -8.45M | -4.52M | -7.09M | -5.71M | -8.31M |
| Net Margin % | -79.43% | -69.08% | -60.25% | -92.21% | -79.97% | -88.41% | -52.86% | -49.39% | -83.82% | -97.12% | -140.36% | -183.91% | -125.53% | -180.29% | -112.83% | -217.68% |
| Net Income Growth % | -56.16% | -35.03% | 14.37% | -34.4% | -14.05% | -112.47% | -22.42% | 10.12% | 14.01% | 11.18% | 4.49% | -86.73% | 36.15% | -24.17% | 31.33% | - |
| Net Income (Continuing) | -36.13M | -25.54M | -18.91M | -22.09M | -16.43M | -14.41M | -6.78M | -5.54M | -6.16M | -7.17M | -8.07M | -8.45M | -4.52M | -7.09M | -5.88M | -8.31M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.17 | -0.90 | -0.70 | -0.90 | -0.68 | -0.69 | -0.43 | -0.49 | -0.56 | -0.93 | -2.93 | -4.48 | -3.06 | -4.95 | -5.65 | -20.73 |
| EPS Growth % | -44.05% | -28.57% | 22.22% | -32.35% | 1.45% | -60.47% | 12.24% | 12.5% | 39.78% | 68.26% | 34.6% | -46.41% | 38.18% | 12.39% | 72.74% | - |
| EPS (Basic) | - | -0.90 | -0.70 | -0.90 | -0.68 | -0.69 | -0.43 | -0.49 | -0.56 | -0.93 | -2.93 | -4.48 | -3.06 | -4.95 | -5.65 | -20.73 |
| Diluted Shares Outstanding | 30.98M | 28.32M | 27.03M | 24.61M | 24.18M | 20.73M | 15.85M | 13.16M | 10.93M | 7.74M | 2.75M | 1.88M | 1.48M | 1.43M | 1.01M | 401.03K |
| Basic Shares Outstanding | 30.98M | 28.32M | 27.03M | 24.61M | 24.18M | 20.73M | 15.85M | 13.16M | 10.93M | 7.74M | 2.75M | 1.88M | 1.48M | 1.43M | 1.01M | 401.03K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CLPT stock.
For fiscal year 2025, ClearPoint Neuro, Inc. (CLPT) reported total revenue of $37.0M. This represents a 868.3% increase compared to $3.8M in 2011.
ClearPoint Neuro, Inc. (CLPT) reported a net loss of $25.5M for the fiscal year ending 2025.
ClearPoint Neuro, Inc. (CLPT) reported an operating income of $-24.2M, resulting in an operating profit margin of -65.4%. This margin reflects the operational efficiency of the business before interest and taxes.
ClearPoint Neuro, Inc. (CLPT) generated $22.7M in gross profit for the year, representing a gross profit margin of 61.4%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent operating losses and cost base
Metrics are mathematically derived from official filings.
Revenue Growth Rebounding Off a Low Base
Based on reported quarterly figures, CLPT's revenue grew 36.3% year over year to $12.1M in 2026Q3, following a 42.9% gain in 2026Q1, though growth has been uneven across the ten-quarter window.
The reported trajectory shows revenue moving from roughly $7.9M in 2024Q2 to $12.1M in the latest quarters, but growth rates have oscillated between single digits and over 40%, which suggests lumpy demand rather than a clearly durable compounding trend. The data does not isolate volume versus pricing or organic versus acquired contributions, so the drivers of the acceleration cannot be confirmed from this income statement alone. Investors should monitor whether the 2026 sequential gains persist through the next several quarters.
Gross Margin Stable While Operating Margin Deteriorates
As reported in the income statement, CLPT's gross margin has held in a 58% to 64% band across the period, yet operating margin remained deeply negative at -52.4% in 2026Q3.
A stable gross margin suggests unit economics at the product level are not the primary source of losses, implying that the problem sits in the operating expense base. Gross margin in the low 60s is respectable for a medical device business, but it is not sufficient on its own to offset the scale of R&D and SG&A relative to revenue. Without disclosed pricing or mix data, the margin stability cannot be attributed to pricing power relative to peers.
Operating Losses Narrowing Only Modestly
Based on EDBL-style quarterly reporting, CLPT's operating loss narrowed from -$10.2M in 2026Q2 to -$6.3M in 2026Q3 as SG&A fell from $12.3M to $9.4M, but it remains a large share of revenue.
Operating income is improving in absolute terms, which suggests some operating leverage is emerging as SG&A has come down faster than gross profit has grown. However, the operating loss still equals more than half of revenue in the latest quarter, indicating the cost base is far from covering the gross profit. Whether this trajectory reaches breakeven depends on sustaining SG&A reductions while revenue continues to scale.
Net Losses Shaped by Stock Compensation
According to the reported figures, CLPT's net loss of -$7.5M in 2026Q3 and EPS of -$0.24 reflect stock-based compensation of $1.9M per quarter, a non-cash charge embedded in operating costs.
The gap between operating and net losses is small, suggesting limited non-operating distortion in the reported results. Stock-based compensation of roughly $2M per quarter represents a meaningful share of the operating loss, so investors may wish to assess cash-based operating losses separately. EPS has been negative throughout the window, and the year-over-year EPS comparisons are not a reliable signal of improving earnings quality.
Persistent Losses Challenge Growth Narrative
The strongest counter-view is that CLPT has reported negative operating margins in every quarter shown, with the most recent at -52.4%, so revenue growth has not yet translated into profitability.
Short-sellers would likely point to the fact that R&D and SG&A together have consistently exceeded gross profit, meaning that additional revenue alone may not close the gap without disproportionate cost discipline. The volatility in quarterly growth rates raises questions about the repeatability of recent gains. Based on reported figures, the path to sustained profitability remains unproven and warrants further investigation.