Revenue growth has been strong, reaching 42.9% in Q1 2026, but this expansion is completely offset by severe negative operating leverage, as evidenced by operating losses expanding from -$4.2M to -$10.2M over two years.
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 | 42.28M | 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 % | 25.86% | 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 | 15.81M | 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 | 26.47M | 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 % | 62.61% | 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 | 57.51M | 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 | 41.67M | 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 | 15.84M | 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 364 | 16.68K | 0 | 0 | 0 | 0 | 2.8K | 0 |
| Operating Income | -31.04M | -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 % | -73.42% | -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 | -27.64M | -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 % | -65.37% | -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 % | -33.57% | -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) | 3.4M | 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 | -30.82M | -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 | -3.4M | -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 | 640K | 1.21M | 872K | 386K | 0 | 0 | 0 | 0 | 0 | 0 | 8.81K | 16.45K | 11.62K | 24.54K | 0 | 3.48K |
| Interest Expense | 4.04M | 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 | -3.54M | -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 | -34.58M | -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 % | -81.8% | -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 | -18K | 55K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.17M | 0 |
| Effective Tax Rate % | 0.05% | -0.22% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -37.96% | 0% |
| Net Income | -34.57M | -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 % | -81.76% | -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 % | -55.54% | -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) | -34.57M | -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) | -1.16 | -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 % | -45.68% | -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 | 29.86M | 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 | 29.86M | 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
Widening operating losses and cash burn
Metrics are mathematically derived from official filings.
Volatile Yet Strong Top-Line Expansion
ClearPoint Neuro's revenue growth has accelerated significantly, reaching 42.9% year-over-year in 2026Q1, but the most recent 18.1% growth in 2026Q2 introduces volatility that complicates durability assessments.
The company's revenue trajectory shows strong but inconsistent growth, swinging from single digits to over 40% within quarters. This pattern suggests the revenue base is sensitive to lumpy capital equipment sales and procedure volume fluctuations, making it difficult to forecast a smooth growth path. The acceleration in early 2026 is positive, but investors must monitor whether this can be sustained without significant quarter-to-quarter volatility.
Gross Margin Stability Amid Operating Collapse
Gross margins have remained remarkably stable in the 60-64% range across all periods, yet this structural strength is completely overwhelmed by operating losses that have expanded to -94.2% of revenue in the latest quarter.
The stability in gross margin suggests ClearPoint maintains consistent pricing and manufacturing efficiency for its neurosurgery products. However, the severe operating margin deterioration indicates that overhead and commercialization costs are scaling at a rate far exceeding the benefits from gross profit growth. This creates a challenging dynamic where excellent unit economics are not translating into bottom-line results.
SG&A Burden Consumes All Gross Profit
Selling, general, and administrative expenses reached $12.3 million in 2026Q2, representing 112.8% of revenue and indicating that commercial infrastructure costs have completely overwhelmed the company's gross margin advantage.
The cost structure reveals that SG&A is the primary profitability headwind, consistently consuming 100% or more of gross profit. This heavy spending likely reflects aggressive sales force expansion and market development for neurosurgery technologies. While necessary for commercializing specialized medical devices, the current burn rate suggests management must eventually demonstrate expense leverage as the revenue base matures.
Negative Operating Leverage Deepens with Scale
Despite revenue growing from $7.6M to $10.9M over two years, operating losses have expanded from -$4.2M to -$10.2M, indicating that each incremental revenue dollar generates proportionally larger operating losses.
The operating leverage profile appears unfavorable in the current phase, as the company's fixed cost structure and commercial investments cause operating losses to grow faster than revenue. This suggests ClearPoint is in a classic pre-profitability investment cycle where scale alone won't solve profitability without either significant revenue acceleration or meaningful expense discipline. The widening loss trend warrants close monitoring.
Sustainable Growth Model Questioned by Loss Trajectory
The most significant analytical challenge is that net losses have widened from -$4.1M to -$11.3M over the past two years while stock-based compensation has increased 53%, raising questions about the efficiency of growth investments and shareholder dilution.
Short-sellers would focus on the fact that ClearPoint's net loss margin has deteriorated from -54.3% to -104.2% over eight quarters, meaning the company now loses more than a dollar for every dollar of revenue generated. The increasing stock-based compensation, which reached $2.3M in the latest quarter, compounds this concern by adding non-cash dilution to the cash burn. This trend suggests the current business model may not achieve profitability without either a dramatic revenue inflection or substantial cost restructuring.