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NPCE logoNeuroPace, Inc.(NPCE)Earnings, Financials & Key Ratios

NPCE•NASDAQ
Price updated Jun 19, 2026
SectorHealthcareIndustryMedical DevicesSub-IndustryNeuromodulation and neuro devices
AboutNeuroPace, Inc. operates as a medical device company in the United States. It develops and sells RNS system, a brain-responsive neuromodulation system for treating medically refractory focal epilepsy by delivering personalized real-time treatment at the seizure source. The company's RNS system also records continuous brain activity data; and enables clinicians to monitor patients in person and remotely. It sells its products to hospital facilities for initial RNS system implant procedures and for replacement procedures. The company was incorporated in 1997 and is headquartered in Mountain View, California.Show more
  • Revenue$100M+25.1%
  • EBITDA-$14M+27.7%
  • Net Income-$21M+20.9%
  • EPS (Diluted)-0.66+29.0%
  • Gross Margin77.23%+4.4%
  • EBITDA Margin-14.39%+42.2%
  • Operating Margin-16.34%+39.7%
  • Net Margin-21.47%+36.8%
  • ROE-158.74%+16.2%

NPCE Key Insights

NeuroPace, Inc. (NPCE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 19.4%

✗Weaknesses

  • ✗High debt to equity ratio of 3.7x
  • ✗Negative free cash flow
  • ✗Shares diluted 12.3% in last year
  • ✗Expensive at 26.9x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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NPCE Price & Volume

NeuroPace, Inc. (NPCE) stock price & volume — 10-year historical chart

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NPCE Growth Metrics

NeuroPace, Inc. (NPCE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years19.44%
3 Years29.99%
TTM18.06%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM13.06%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM22.42%

Return on Capital

10 Years-27.45%
5 Years-27.31%
3 Years-24.28%
Last Year-19.54%

NPCE Recent Earnings

NeuroPace, Inc. (NPCE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 12, 2026
Metric
Actual
Est
EPS
$0.13+31.6%
$0.19
Rev
$22M+1.6%
$22M
Q2 2026
Mar 3, 2026
Metric
Actual
Est
EPS
$0.08+42.9%
$0.14
Rev
$27M+7.4%
$25M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$0.11+45.0%
$0.20
Rev
$27M+9.3%
$25M
Q3 2025
Aug 12, 2025
Metric
Actual
Est
EPS
$0.26-8.3%
$0.24
Rev
$24M-3.7%
$24M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 12, 2026
$0.13vs $0.19+31.6%
$22Mvs $22M+1.6%
Q2 2026Mar 3, 2026
$0.08vs $0.14+42.9%
$27Mvs $25M+7.4%
Q4 2025Nov 4, 2025
$0.11vs $0.20+45.0%
$27Mvs $25M+9.3%
Q3 2025Aug 12, 2025
$0.26vs $0.24-8.3%
$24Mvs $24M-3.7%
Based on last 12 quarters of dataView full earnings history →

NPCE Peer Comparison

NeuroPace, Inc. (NPCE) competitors in Neuromodulation and neuro devices — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
LIVN logoLIVNLivaNova PLCDirect Competitor4.31B78.50-17.6410.74%7.47%9.13%0.39
ELMD logoELMDElectromed, Inc.Direct Competitor320.27M38.6844.9816.97%14.08%22.14%0.00
MDT logoMDTMedtronic plcProduct Competitor101.86B79.3421.983.62%13%9.49%0.59
ABT logoABTAbbott LaboratoriesProduct Competitor153.68B88.3811.574.59%31.88%27.26%0.32
BSX logoBSXBoston Scientific CorporationProduct Competitor67.31B45.2923.3519.87%14.4%12.4%0.51
NVCR logoNVCRNovoCure LimitedProduct Competitor1.62B14.28-11.708.28%-25.66%-50.82%0.85
INVA logoINVAInnoviva, Inc.Product Competitor1.66B22.496.8218.52%118.91%47.59%0.23
ISRG logoISRGIntuitive Surgical, Inc.Supply Chain144.48B406.7851.6920.51%28.15%16.89%0.02

Compare NPCE vs Peers

NeuroPace, Inc. (NPCE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs LIVN

Most directly comparable listed peer for NPCE.

Scale Benchmark

vs ABT

Larger-name benchmark to compare NPCE against a more recognizable public peer.

Peer Set

Compare Top 5

vs LIVN, ELMD, MDT, ABT

NPCE Income Statement

NeuroPace, Inc. (NPCE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
36.97M41.14M45.18M45.52M65.42M79.91M99.99M99.53M
Revenue Growth %
-11.27%9.83%0.75%43.72%22.14%25.13%18.06%
Cost of Goods Sold
10.51M10.87M11.75M13.03M17.3M20.82M22.77M21.6M
COGS % of Revenue
28.42%26.41%26%28.62%26.44%26.06%22.77%-
Gross Profit
26.46M▲ 0%
30.27M▲ 14.4%
33.44M▲ 10.4%
32.49M▼ 2.8%
48.12M▲ 48.1%
59.09M▲ 22.8%
77.22M▲ 30.7%
77.93M▲ 0%
Gross Margin %
71.58%73.59%74%71.38%73.56%73.94%77.23%78.29%
Gross Profit Growth %
-14.39%10.45%-2.82%48.1%22.78%30.69%-
Operating Expenses
48.49M43.32M57.17M73.29M75.3M80.76M93.56M94.69M
OpEx % of Revenue
131.17%105.31%126.53%161%115.09%101.06%93.57%-
Selling, General & Admin
30.2M27.63M38.96M51.34M54.52M57.1M65.67M67.05M
SG&A % of Revenue
81.69%67.16%86.23%112.79%83.33%71.46%65.68%-
Research & Development
18.29M15.7M18.21M21.95M20.78M23.65M27.89M27.64M
R&D % of Revenue
49.48%38.15%40.3%48.21%31.76%29.6%27.89%-
Other Operating Expenses
00000000
Operating Income
-22.03M▲ 0%
-13.05M▲ 40.8%
-23.74M▼ 81.9%
-40.79M▼ 71.9%
-27.17M▲ 33.4%
-21.67M▲ 20.3%
-16.34M▲ 24.6%
-16.76M▲ 0%
Operating Margin %
-59.59%-31.72%-52.54%-89.62%-41.54%-27.12%-16.34%-16.84%
Operating Income Growth %
-40.76%-81.88%-71.86%33.39%20.25%24.61%-
EBITDA
-21.61M-12.74M-23.44M-37.81M-25.57M-19.9M-14.39M-15.19M
EBITDA Margin %
-58.45%-30.97%-51.88%-83.06%-39.08%-24.91%-14.39%-15.26%
EBITDA Growth %
-41.05%-84.01%-61.29%32.37%22.16%27.7%13.01%
D&A (Non-Cash Add-back)
421K312K296K2.99M1.6M1.77M1.95M1.57M
EBIT
-20.49M-12.79M-28.67M-39.55M-24.44M-18.34M-16.34M-16.45M
Net Interest Income
-9.22M-11.45M-6.96M-5.95M-5.47M-5.77M-4.64M-4.24M
Interest Income
261K41K448K1.58M3.05M3.02M2.82M1.92M
Interest Expense
9.48M11.49M7.41M7.53M8.52M8.8M7.46M6.16M
Other Income/Expense
-7.94M-11.23M-12.34M-6.29M-5.78M-5.47M-5.13M-4.81M
Pretax Income
-29.97M▲ 0%
-24.28M▲ 19.0%
-36.08M▼ 48.6%
-47.08M▼ 30.5%
-32.96M▲ 30.0%
-27.14M▲ 17.6%
-21.46M▲ 20.9%
-21.57M▲ 0%
Pretax Margin %
-81.07%-59.02%-79.85%-103.43%-50.38%-33.97%-21.47%-21.67%
Income Tax
00000000
Effective Tax Rate %
0%0%0%0%0%0%0%0%
Net Income
-29.97M▲ 0%
-24.28M▲ 19.0%
-36.08M▼ 48.6%
-47.08M▼ 30.5%
-32.96M▲ 30.0%
-27.14M▲ 17.6%
-21.46M▲ 20.9%
-21.57M▲ 0%
Net Margin %
-81.07%-59.02%-79.85%-103.43%-50.38%-33.97%-21.47%-21.67%
Net Income Growth %
-19%-48.61%-30.49%30%17.64%20.91%13.06%
Net Income (Continuing)
-29.97M-24.28M-36.08M-47.08M-32.96M-27.14M-21.46M-21.57M
Discontinued Operations
00000000
Minority Interest
00000000
EPS (Diluted)
-2.70▲ 0%
-2.17▲ 19.6%
-2.17▲ 0.0%
-1.91▲ 12.0%
-1.27▲ 33.5%
-0.93▲ 26.8%
-0.66▲ 29.0%
-0.64▲ 0%
EPS Growth %
-19.63%0%11.98%33.51%26.77%29.03%22.42%
EPS (Basic)
-2.70-2.17-2.17-1.91-1.27-0.93-0.66-
Diluted Shares Outstanding
11.1M11.1M16.61M24.59M25.85M29.13M32.72M33.72M
Basic Shares Outstanding
11.1M11.1M16.61M24.59M25.85M29.13M32.72M33.72M
Dividend Payout Ratio
--------

NPCE Balance Sheet

NeuroPace, Inc. (NPCE) balance sheet — assets, liabilities & shareholders' equity

MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
20.26M54.56M132.82M97.71M92.72M81.34M94.07M86.98M
Cash & Short-Term Investments
5.09M38.08M115.58M77.41M66.45M52.76M61.06M53.98M
Cash Only
4.12M26.39M19.19M6.61M18.06M13.43M21.69M14.78M
Short-Term Investments
969K11.69M96.4M70.8M48.4M39.33M39.37M39.2M
Accounts Receivable
6.02M8.39M7.09M7.48M12.31M12.85M14.68M14.79M
Days Sales Outstanding
59.474.4957.2859.9968.758.753.5953.14
Inventory
7.9M6.91M7.82M9.71M11.21M13.38M16.9M16.69M
Days Inventory Outstanding
274.41232.08243.02272.12236.61234.57270.89287.52
Other Current Assets
0003.11M2.74M2.35M1.44M1.51M
Total Non-Current Assets
835K1.39M746K16.39M14.93M13.31M11.49M11.92M
Property, Plant & Equipment
810K515K603K15.9M14.41M12.89M11.26M10.96M
Fixed Asset Turnover
45.64x79.88x74.93x2.86x4.54x6.20x8.88x8.64x
Goodwill
00000000
Intangible Assets
00000000
Long-Term Investments
0000000122K
Other Non-Current Assets
25K873K143K490K524K413K235K958K
Total Assets
21.09M▲ 0%
55.95M▲ 165.2%
133.56M▲ 138.7%
114.11M▼ 14.6%
107.65M▼ 5.7%
94.65M▼ 12.1%
105.56M▲ 11.5%
98.9M▲ 0%
Asset Turnover
1.75x0.74x0.34x0.40x0.61x0.84x0.95x0.95x
Asset Growth %
-165.23%138.72%-14.57%-5.66%-12.08%11.54%25.07%
Total Current Liabilities
75.15M9.6M9.3M10.98M16.23M15.16M17.81M16.17M
Accounts Payable
903K949K1.38M2.15M2.33M2.95M2.22M4.51M
Days Payables Outstanding
31.3731.8842.8160.1649.251.7835.5467.75
Short-Term Debt
62.8M2.04M00002.12M2.19M
Deferred Revenue (Current)
6.73M0001.09M555K141K1.61M
Other Current Liabilities
1.01M666K490K00013.34M9.34M
Current Ratio
0.27x5.69x14.28x8.90x5.71x5.37x5.28x5.38x
Quick Ratio
0.16x4.97x13.44x8.02x5.02x4.48x4.33x4.35x
Cash Conversion Cycle
302.45274.69257.49271.96256.11241.49288.94272.91
Total Non-Current Liabilities
75.3M194.19M50.76M68.35M70.77M71.48M68.72M68.28M
Long-Term Debt
050.82M49.85M52.91M56.95M59.52M68.72M68.28M
Capital Lease Obligations
00015.44M13.81M11.95M031.14M
Deferred Tax Liabilities
00000000
Other Non-Current Liabilities
75.3M143.37M911K00000
Total Liabilities
150.44M203.78M60.06M79.33M87M86.63M86.53M84.44M
Total Debt
62.8M52.86M49.85M69.77M72.39M73.34M70.84M70.46M
Net Debt
58.68M26.47M30.66M63.16M54.34M59.91M49.15M55.68M
Debt / Equity
--0.68x2.01x3.51x9.15x3.72x4.87x
Debt / EBITDA
--------4.64x
Net Debt / EBITDA
--------3.67x
Interest Coverage
-2.16x-1.11x-3.87x-5.25x-2.87x-2.08x-2.19x-2.67x
Total Equity
-129.35M▲ 0%
-147.83M▼ 14.3%
73.5M▲ 149.7%
34.78M▼ 52.7%
20.65M▼ 40.6%
8.01M▼ 61.2%
19.03M▲ 137.5%
14.45M▲ 0%
Equity Growth %
--14.29%149.72%-52.69%-40.61%-61.2%137.5%282.22%
Book Value per Share
-11.65-13.314.431.410.800.280.580.43
Total Shareholders' Equity
-129.35M-147.83M73.5M34.78M20.65M8.01M19.03M14.45M
Common Stock
1K024K25K28K30K34K34K
Retained Earnings
-363.64M-387.69M-423.77M-470.85M-503.81M-530.95M-552.41M-559.1M
Treasury Stock
-73.57M0000000
Accumulated OCI
1K33K-272K-1.11M0000
Minority Interest
00000000

NPCE Cash Flow Statement

NeuroPace, Inc. (NPCE) cash flow — operating, investing & free cash flow history

MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-25.03M-21.61M-24.58M-36.87M-19.7M-17.95M-11.01M-9.42M
Operating CF Margin %
-67.69%-52.53%-54.39%-81%-30.11%-22.46%-11.01%-
Operating CF Growth %
-13.65%-13.73%-50.01%46.56%8.89%38.68%165.44%
Net Income
-29.97M-24.28M-36.08M-47.08M-32.96M-27.14M-21.46M-21.57M
Depreciation & Amortization
421K312K296K2.99M1.6M1.77M1.95M2M
Stock-Based Compensation
1.44M1.38M4.29M8.35M9.56M10.28M11.09M8.46M
Deferred Taxes
005.48M00000
Other Non-Cash Items
3.08M3.04M1.07M3.67M4.58M2.59M1.43M3.71M
Working Capital Changes
9K-2.07M368K-4.79M-2.48M-5.45M-4.01M-2.03M
Change in Receivables
-750K-2.38M1.3M-391K-4.85M-537K-1.83M647K
Change in Inventory
-1.64M672K-1.16M-2.13M-1.7M251K-3.67M-3.31M
Change in Payables
-82K-5K479K647K240K671K-730K499K
Cash from Investing
3.62M-10.77M-85.4M23.8M23.03M8.99M-332K-412K
Capital Expenditures
-468K-62K-384K-603K-173K-306K-332K-412K
CapEx % of Revenue
1.27%0.15%0.85%1.32%0.26%0.38%0.33%0.41%
Acquisitions
00000000
Investments
--------
Other Investing
4K0000000
Cash from Financing
21.37M55.01M102.53M490K8.13M4.33M19.6M-1.67M
Debt Issued (Net)
21.33M24.46M-4.09M000-2.07M-133K
Equity Issued (Net)
031.7M109.09M07.89M3.28M22.21M123K
Dividends Paid
00000000
Share Repurchases
000000-49.55M0
Other Financing
42K-1.15M-2.47M490K239K1.05M-543K-1.66M
Net Change in Cash
-38K▲ 0%
22.63M▲ 59660.5%
-7.45M▼ 132.9%
-12.58M▼ 69.0%
11.45M▲ 191.0%
-4.63M▼ 140.4%
8.26M▲ 278.5%
-12.24M▲ 0%
Free Cash Flow
-25.49M▲ 0%
-21.67M▲ 15.0%
-24.96M▼ 15.2%
-37.47M▼ 50.1%
-19.87M▲ 47.0%
-18.25M▲ 8.1%
-11.34M▲ 37.9%
-9.84M▲ 0%
FCF Margin %
-68.95%-52.68%-55.24%-82.32%-30.38%-22.85%-11.34%-9.88%
FCF Growth %
-15%-15.18%-50.12%46.96%8.15%37.89%45.78%
FCF per Share
-2.30-1.95-1.50-1.52-0.77-0.63-0.35-0.29
FCF Conversion (FCF/Net Income)
0.83x0.89x0.68x0.78x0.60x0.66x0.51x0.46x
Interest Paid
5.42M4.41M04.46M4.48M001.39M
Taxes Paid
00000000

NPCE Key Ratios

NeuroPace, Inc. (NPCE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric202020212022202320242025TTM
Return on Equity (ROE)
--49.09%-86.96%-118.91%-189.35%-158.74%-120.74%
Return on Invested Capital (ROIC)
---30.28%-23.57%-22.75%-18.01%-18.25%
Gross Margin
73.59%74%71.38%73.56%73.94%77.23%78.29%
Net Margin
-59.02%-79.85%-103.43%-50.38%-33.97%-21.47%-21.67%
Debt / Equity
-0.68x2.01x3.51x9.15x3.72x4.87x
Interest Coverage
-1.11x-3.87x-5.25x-2.87x-2.08x-2.19x-2.67x
FCF Conversion
0.89x0.68x0.78x0.60x0.66x0.51x0.46x
Revenue Growth
11.27%9.83%0.75%43.72%22.14%25.13%18.06%
Related:NPCE Dividend History·NPCE Revenue History·NPCE Price History·NPCE P/E History·NPCE Financial Ratios·NPCE Institutional Holders

NPCE SEC Filings & Documents

NeuroPace, Inc. (NPCE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 12, 2026·SEC

Material company update

Mar 3, 2026·SEC

Material company update

Nov 4, 2025·SEC

10-K Annual Reports

4
FY 2026

Mar 3, 2026·SEC

FY 2025

Mar 4, 2025·SEC

FY 2024

Mar 5, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 12, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 12, 2025·SEC

NPCE Frequently Asked Questions

NeuroPace, Inc. (NPCE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

NeuroPace, Inc. (NPCE) reported $99.5M in revenue for fiscal year 2025. This represents a 169% increase from $37.0M in 2019.

NeuroPace, Inc. (NPCE) grew revenue by 25.1% over the past year. This is strong growth.

NeuroPace, Inc. (NPCE) reported a net loss of $21.6M for fiscal year 2025.

Dividend & Returns

NeuroPace, Inc. (NPCE) has a return on equity (ROE) of -158.7%. Negative ROE indicates the company is unprofitable.

NeuroPace, Inc. (NPCE) had negative free cash flow of $9.8M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in NPCE back in 2019?

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