The company's financial stability appears increasingly fragile, evidenced by a shift to a $5.7 million equity deficit and a total debt load that has risen to $9.5 million as of 2026Q1.
| Total Current Assets | 12.53M | 11.61M | 16.3M | 14.29M | 21.17M | 37.54M | 25.06M | 26.53M | 72.7M | 39.03M | 505.94K |
| Cash & Short-Term Investments | 8.83M | 11.61M | 11.97M | 10.33M | 17.71M | 34.69M | 22.63M | 24.06M | 68.56M | 37.17M | 416.34K |
| Cash Only | 4.85M | 7.04M | 3.45M | 10.33M | 17.71M | 34.69M | 4.24M | 13.56M | 7.6M | 13.22M | 416.34K |
| Short-Term Investments | 3.98M | 4.58M | 8.52M | 0 | 0 | 0 | 18.39M | 10.5M | 60.96M | 23.95M | 0 |
| Accounts Receivable | 872K | 1.03M | 1.37M | 717K | 401K | 438K | 270.55K | 496.14K | 267.6K | 103.21K | 24.71K |
| Days Sales Outstanding | 10.96 | 11.7 | 19.81 | 16.33 | 17.04 | 29.33 | 28.25 | 75.76 | 98.37 | 46.42 | 35.49 |
| Inventory | 1.98M | 1.63M | 1.68M | 2.16M | 1.98M | 1.36M | 876.44K | 911.17K | 1.95M | 327.79K | 48.47K |
| Days Inventory Outstanding | 94.61 | 140.27 | 161.62 | 281.17 | 446.31 | 358.68 | 184.11 | 287.46 | 1.23K | 230.73 | 142.99 |
| Other Current Assets | 846K | -2.66M | 1.29M | 1.09M | 1.08M | -572 | 0 | -20.18K | 1.92M | 856.89K | 16.42K |
| Total Non-Current Assets | 2.96M | 7.06M | 4.17M | 1.81M | 3.58M | 5.29M | 6.45M | 8.93M | 805.8K | 199.25K | 116.08K |
| Property, Plant & Equipment | 2.9M | 0 | 3.9M | 706K | 615K | 760K | 761.3K | 1.78M | 380.9K | 168.65K | 48.43K |
| Fixed Asset Turnover | 13.19x | - | 6.46x | 22.71x | 13.97x | 7.17x | 4.59x | 1.35x | 2.61x | 4.81x | 5.25x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 54K | 7.06M | 274K | 1.1M | 2.97M | 4.53M | 5.69M | 7.15M | 424.9K | 30.6K | 67.65K |
| Total Assets | 15.48M | 18.67M | 20.47M | 16.1M | 24.76M | 42.83M | 31.52M | 35.46M | 73.5M | 39.23M | 622.02K |
| Asset Turnover | 1.99x | 1.72x | 1.23x | 1.00x | 0.35x | 0.13x | 0.11x | 0.07x | 0.01x | 0.02x | 0.41x |
| Asset Growth % | -45.43% | -8.81% | 27.13% | -34.96% | -42.2% | 35.9% | -11.12% | -51.76% | 87.36% | 6207.34% | - |
| Total Current Liabilities | 12.31M | 11.35M | 9.15M | 8.12M | 7.04M | 5.49M | 5.89M | 9.14M | 7.07M | 6.12M | 4.14M |
| Accounts Payable | 2.17M | 2.71M | 1.83M | 2.16M | 2.13M | 938K | 2.08M | 5.21M | 2.7M | 840.38K | 2.24M |
| Days Payables Outstanding | 215.71 | 233.24 | 176.18 | 281.56 | 480.87 | 247.2 | 436.67 | 1.64K | 1.7K | 591.55 | 6.61K |
| Short-Term Debt | 628K | 375K | 0 | 0 | 0 | 0 | 311.35K | 111.88K | 0 | 0 | 0 |
| Deferred Revenue (Current) | 68K | 0 | 78K | 245K | 152K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 9.51M | 8.26M | 3.88M | 3.13M | 2.77M | 3.26M | 1.8M | 1.64M | 948.59K | 2.24M | 838.78K |
| Current Ratio | 1.02x | 1.02x | 1.78x | 1.76x | 3.01x | 6.84x | 4.26x | 2.90x | 10.28x | 6.38x | 0.12x |
| Quick Ratio | 0.86x | 0.88x | 1.60x | 1.49x | 2.72x | 6.60x | 4.11x | 2.80x | 10.00x | 6.33x | 0.11x |
| Cash Conversion Cycle | -110.14 | -81.27 | 5.25 | 15.94 | -17.52 | 140.81 | -224.31 | -1.28K | -374.33 | -314.4 | -6.43K |
| Total Non-Current Liabilities | 8.86M | 9.03M | 3.77M | 537K | 625K | 700K | 1.98M | 1.42M | 245.63K | 122.58M | 57.54M |
| Long-Term Debt | 8.86M | 6.61M | 0 | 0 | 0 | 0 | 1.1M | 0 | 0 | 0 | 3.67M |
| Capital Lease Obligations | 10.07M | 2.42M | 3.77M | 537K | 625K | 700K | 885.33K | 1.42M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 245.63K | 122.58M | 53.87M |
| Total Liabilities | 21.17M | 20.38M | 12.93M | 8.66M | 7.67M | 6.18M | 7.87M | 10.56M | 7.32M | 128.7M | 61.68M |
| Total Debt | 9.48M | 9.4M | 4.14M | 626K | 699K | 761K | 2.83M | 2.02M | 0 | 0 | 3.67M |
| Net Debt | 4.63M | 2.37M | 686K | -9.71M | -17.01M | -33.93M | -1.41M | -11.55M | -7.6M | -13.22M | 3.25M |
| Debt / Equity | -1.67x | - | 0.55x | 0.08x | 0.04x | 0.02x | 0.12x | 0.08x | - | - | - |
| Debt / EBITDA | -0.72x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.35x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -17.23x | -22.29x | - | - | - | - | - | - | - | -4.06x | -19.46x |
| Total Equity | -5.69M | -1.71M | 7.54M | 7.44M | 17.09M | 36.65M | 23.64M | 24.9M | 66.19M | -89.47M | -61.05M |
| Equity Growth % | -554.61% | -122.65% | 1.37% | -56.44% | -53.38% | 55% | -5.03% | -62.38% | 173.98% | -46.54% | - |
| Book Value per Share | -0.64 | -0.20 | 1.01 | 1.35 | 3.61 | 9.29 | 9.09 | 12.71 | 33.93 | -13.81 | -6.08 |
| Total Shareholders' Equity | -5.69M | -1.71M | 7.54M | 7.44M | 17.09M | 36.65M | 23.01M | 24.26M | 65.55M | -90.07M | -61.45M |
| Common Stock | 8K | 8K | 7K | 6K | 5K | 5K | 45.56K | 29.84K | 29.45K | 40.18M | 30.91M |
| Retained Earnings | -196.33M | -191.06M | -177.09M | -165.2M | -146.37M | -124.21M | -106.99M | -83.48M | -38.33M | -152.93M | -100.71M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -22.6M | -8.13M |
| Accumulated OCI | -64K | 99K | 114K | -64K | -69K | 13K | -251.47K | -41.3K | 60.84K | 80.21K | 214.01K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 635.61K | 635.61K | 635.61K | 604.05K | 400.42K |
Liquidity and capital dilution
As reported in recent financial filings, ECOR's equity position has shifted from a positive $7.5 million in 2024Q4 to a deficit of $5.7 million by 2026Q1, reflecting a persistent erosion of shareholder value driven by ongoing operational losses and an inability to achieve self-sustaining scale.
The transition into negative equity territory suggests that the company is consuming its capital base to fund commercialization efforts. Investors should monitor whether this trend forces a restructuring of the balance sheet or necessitates further dilutive equity raises to maintain operations.
Based on the company's reported figures, total debt has climbed from $626,000 in 2023Q4 to $9.5 million in 2026Q1, indicating that management is increasingly relying on external financing to bridge the gap between operating cash outflows and the company's ambitious growth objectives in the neuromodulation market.
The rapid accumulation of debt relative to the company's asset base suggests a heightened risk profile, particularly as the firm lacks the consistent cash flow to service these obligations comfortably. This reliance on debt financing may limit future strategic flexibility and increase the cost of capital.
According to the latest balance sheet data, ECOR's cash reserves have dwindled to $4.9 million as of 2026Q1, down from $10.3 million in 2023Q4, which leaves the company with a narrow buffer against its ongoing quarterly operating losses and potential unforeseen operational shocks.
With a current ratio hovering near 1.02, the company's ability to meet short-term obligations appears increasingly constrained. This liquidity profile warrants close scrutiny, as any delay in revenue realization or unexpected spikes in commercialization costs could necessitate immediate and potentially dilutive capital market intervention.
As indicated by the company's financial statements, the absence of goodwill and the reliance on tangible assets like PPE, which totaled $2.9 million in 2026Q1, suggest that the firm's valuation is entirely dependent on future growth rather than underlying asset backing or established intellectual property book value.
The lack of intangible asset capitalization on the balance sheet may mask the true cost of developing the nVNS technology, as R&D expenses are expensed rather than capitalized. This creates a potential distortion where the company's true economic value is not reflected in its book value, leaving investors to rely heavily on speculative future revenue streams.
Quick answers to the most common questions about buying ECOR stock.
As of 2025, electroCore, Inc. (ECOR) had total assets of $18.7M including $11.6M in current assets.
electroCore, Inc. (ECOR) carries total debt of $9.4M, offset by $11.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
electroCore, Inc. (ECOR) has total shareholders' equity (book value) of $-1.7M ($-0.20 book value per share). Book value represents the net worth of the company belonging to common stock holders.
electroCore, Inc. (ECOR) reported a current ratio of 1.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.