While revenue growth accelerated to 42.9% in 2026Q1, the company continues to struggle with profitability as SG&A expenses ballooned to $11.7 million, resulting in a -69.9% operating margin.
| 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 | 40.61M | 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 % | 25.99% | 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 | 15.51M | 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 | 25.11M | 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 % | 61.82% | 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 | 51.59M | 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 | 36.76M | 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 | 15.04M | 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 | -207K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 364 | 16.68K | 0 | 0 | 0 | 0 | 2.8K | 0 |
| Operating Income | -26.48M | -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 % | -65.2% | -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 | -23.82M | -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 % | -58.66% | -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 % | -19.62% | -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) | 2.66M | 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 | -26.59M | -24.16M | -19.75M | -22.45M | -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 | -2.36M | -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 | 351K | 1.21M | 872K | 386K | 0 | 0 | 0 | 0 | 0 | 0 | 8.81K | 16.45K | 11.62K | 24.54K | 0 | 3.48K |
| Interest Expense | 2.71M | 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 | -2.54M | -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 | -29.02M | -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 % | -71.46% | -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 | 45K | 55K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.17M | 0 |
| Effective Tax Rate % | -0.16% | -0.22% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -37.96% | 0% |
| Net Income | -29.07M | -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 % | -71.57% | -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 % | -39.78% | -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) | -29.07M | -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) | -0.98 | -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 % | -32.89% | -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 | 29.55M | 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 | 29.55M | 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 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
High cash burn rate
According to the latest quarterly filings, CLPT achieved a 42.9% year-over-year revenue growth in 2026Q1, marking a significant acceleration from the 9.1% growth observed in 2025Q3, suggesting that the company's strategic pivot toward biologics-enablement and new OR initiatives is beginning to gain meaningful commercial traction.
The recent revenue surge indicates that the company is successfully scaling its procedural footprint, likely driven by the maturation of its biologics partner pipeline. Investors should monitor whether this growth trajectory remains sustainable or if it is merely a reflection of lumpy capital equipment installations that may not repeat in subsequent quarters.
As reported in financial statements, CLPT has maintained a consistent gross margin profile, hovering around 61% over the last ten quarters, which suggests that the company possesses a stable pricing power for its specialized MRI-compatible disposables despite the ongoing transition toward a broader operating room presence.
This margin stability is encouraging, as it implies that the core hardware and disposable business remains insulated from significant competitive pricing pressure. However, the inability to expand these margins suggests that the high labor intensity of providing on-site clinical support remains a persistent drag on overall profitability.
Based on the provided income statement data, CLPT's operating expenses continue to outpace gross profit growth, resulting in a 2026Q1 operating margin of -69.9%, which highlights a lack of operational leverage as the company aggressively invests in its workforce and R&D to support future growth.
The widening gap between revenue growth and operating income suggests that the company is currently prioritizing market share acquisition over immediate bottom-line performance. This strategy warrants further investigation into whether the current SG&A spend is truly scalable or if it represents a permanent, high-cost structure required for every procedure.
Analysis of the income statement reveals that SG&A expenses reached $11.7 million in 2026Q1, a substantial increase from the $6.1 million reported in 2023Q4, indicating that management's expense discipline is currently secondary to the aggressive scaling of the company's clinical specialist infrastructure and commercial operations.
The heavy reliance on a specialized workforce creates a high fixed-cost base that necessitates significant procedure volume to reach break-even. Investors should be wary of this cost structure, as it leaves the company highly vulnerable to any slowdown in clinical trial activity or hospital capital expenditure cycles.
As indicated by the persistent net losses, which reached -$9.6 million in 2026Q1, the company's current business model appears to be heavily reliant on external capital, raising concerns about the long-term viability of its operations without a clear path to achieving positive cash flow in the near term.
Short-sellers would likely focus on the widening net loss and the potential for future dilutive financing to sustain operations. The market's valuation of the company as a biologics-enablement platform may be overly optimistic if the conversion of clinical trials into commercial-stage recurring revenue fails to materialize as expected.
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.