Nexalin Technology, Inc.(NXL)Earnings, Financials & Key Ratios
NXL•NASDAQ
Price updated Jun 19, 2026
AboutNexalin Technology, Inc., a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. It licenses and markets Nexalin Device, a non-invasive and drug-free therapy for the treatment of anxiety and insomnia. The company's Nexalin device emits a patented frequency-based waveform, which stimulates a positive response from the mid-brain structures associated with various mental health disorders. It also engages in the development of Generation 2, a medical device that is in clinical trials for the treatment of substance abuse issues related to opiates, chronic pain, Alzheimer's disease, and dementia. The company was incorporated in 2021 and is headquartered in Houston, Texas.Show more
- Revenue$169K+52.3%
- EBITDA-$8M-36.0%
- Net Income-$8M-63.6%
- EPS (Diluted)-0.83-31.7%
- Gross Margin78.31%+2.0%
- EBITDA Margin-4587.18%+10.7%
- Operating Margin-4596.14%+10.6%
- Net Margin-4508.73%-7.4%
- ROE-221.05%-106.5%
NXL Key Insights
Nexalin Technology, Inc. (NXL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Trading at only 0.9x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 9 (bottom 9%)
- ✗Shares diluted 25.3% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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NXL Price & Volume
Nexalin Technology, Inc. (NXL) stock price & volume — 10-year historical chart
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NXL Growth Metrics
Nexalin Technology, Inc. (NXL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-4.04%
3 Years5.41%
TTM-3.18%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-56.25%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-4.69%
Return on Capital
10 Years-150.36%
5 Years-150.36%
3 Years-150.36%
Last Year-225.34%
NXL Recent Earnings
Nexalin Technology, Inc. (NXL) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 0/12 qtrs (0%)●Beat Revenue 3/12 qtrs (43%)
Q2 2026Latest
May 8, 2026Metric
Actual
Est
EPS
$0.11-10.0%
$0.10
Rev
$14,950-0.3%
$15,000
Q2 2026
Mar 25, 2026Metric
Actual
Est
EPS
$0.13-8.3%
$0.12
Rev
$172,000+115.0%
$80,000
Q4 2025
Nov 14, 2025Metric
Actual
Est
EPS
$0.13-8.3%
$0.12
Rev
$18,149-54.6%
$40,000
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$0.10+0.0%
$0.10
Rev
$70,588-0.6%
$71,000
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 8, 2026 | $0.11vs $0.10-10.0% | $14,950vs $15,000-0.3% |
| Q2 2026 | Mar 25, 2026 | $0.13vs $0.12-8.3% | $172,000vs $80,000+115.0% |
| Q4 2025 | Nov 14, 2025 | $0.13vs $0.12-8.3% | $18,149vs $40,000-54.6% |
| Q3 2025 | Aug 6, 2025 | $0.10vs $0.10+0.0% | $70,588vs $71,000-0.6% |
Based on last 12 quarters of dataView full earnings history →
NXL Peer Comparison
Nexalin Technology, Inc. (NXL) competitors in Neuromodulation and neuro devices — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ECOR | 69.89M | 8.43 | -5.11 | 27.2% | -44.08% | -478.7% | ||
 STIM | 85.59M | 1.23 | -2.08 | 99.17% | -24.48% | -139.83% | 3.44 | |
 LIVN | 4.31B | 78.50 | -17.64 | 10.74% | 7.47% | 9.13% | 0.39 | |
 NVCR | 1.62B | 14.28 | -11.70 | 8.28% | -25.66% | -50.82% | 0.85 | |
 INVA | 1.66B | 22.49 | 6.82 | 18.52% | 118.91% | 47.59% | 0.23 | |
 GKOS | 7.65B | 130.68 | -39.84 | 32.33% | -34.34% | -26.46% | 0.21 | |
 MDT | 101.86B | 79.34 | 21.98 | 3.62% | 13% | 9.49% | 0.59 | |
 ABT | 153.68B | 88.38 | 11.57 | 4.59% | 31.88% | 27.26% | 0.32 |
Compare NXL vs Peers
Nexalin Technology, Inc. (NXL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NXL Income Statement
Nexalin Technology, Inc. (NXL) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
Sales/Revenue | 207.38K | 242.91K | 144.06K | 1.32M | 110.75K | 168.72K | 156.93K |
Revenue Growth % | - | 17.13% | -40.69% | 817.2% | -91.62% | 52.35% | -3.18% |
Cost of Goods Sold | 218.21K | 29.04K | 21.44K | 363.21K | 25.69K | 36.59K | 498.66K |
COGS % of Revenue | 105.22% | 11.95% | 14.88% | 27.49% | 23.2% | 21.69% | - |
Gross Profit | -10.83K▲ 0% | 213.88K▲ 2075.4% | 122.62K▼ 42.7% | 958.14K▲ 681.4% | 85.06K▼ 91.1% | 132.13K▲ 55.3% | -341.73K▲ 0% |
Gross Margin % | -5.22% | 88.05% | 85.12% | 72.51% | 76.81% | 78.31% | -217.76% |
Gross Profit Growth % | - | 2075.39% | -42.67% | 681.37% | -91.12% | 55.34% | - |
Operating Expenses | 1.46M | 3.47M | 6.14M | 2.79M | 5.78M | 7.89M | 8.51M |
OpEx % of Revenue | 701.76% | 1429.43% | 4262.81% | 211.24% | 5220.28% | 4674.45% | - |
Selling, General & Admin | 1.46M | 3.47M | 6.14M | 2.79M | 3.86M | 6.7M | 6.46M |
SG&A % of Revenue | 701.76% | 1429.43% | 4262.81% | 211.24% | 3484.98% | 3968.62% | - |
Research & Development | 0 | 0 | 139K | 511K | 1.92M | 1.19M | 1.6M |
R&D % of Revenue | - | - | 96.48% | 38.67% | 1735.47% | 705.9% | - |
Other Operating Expenses | 0 | 0 | -139K | -511K | -189 | -116 | 453.53K |
Operating Income | -1.47M▲ 0% | -3.26M▼ 122.2% | -6.02M▼ 84.7% | -1.83M▲ 69.5% | -5.7M▼ 210.8% | -7.75M▼ 36.1% | -8.85M▲ 0% |
Operating Margin % | -706.98% | -1341.38% | -4177.7% | -138.72% | -5143.48% | -4596.14% | -5641.4% |
Operating Income Growth % | - | -122.24% | -84.71% | 69.54% | -210.76% | -36.13% | - |
EBITDA | -1.47M | -3.26M | -6.02M | -1.83M | -5.69M | -7.74M | -8.83M |
EBITDA Margin % | -706.72% | -1341.21% | -4177.33% | -138.29% | -5139.63% | -4587.18% | -5628.77% |
EBITDA Growth % | - | -122.29% | -84.72% | 69.64% | -211.5% | -35.97% | -36.08% |
D&A (Non-Cash Add-back) | 535 | 429 | 537 | 5.72K | 4.25K | 15.11K | 19.83K |
EBIT | -1.47M | -3.32M | -6M | -1.83M | -5.7M | -7.75M | -8.74M |
Net Interest Income | 0 | -78.68K | -82.32K | -59.38K | -38.84K | 3.19K | 9.9K |
Interest Income | 80.99K | 0 | 0 | 0 | 0 | 3.19K | 9.9K |
Interest Expense | 80.99K | 78.68K | 82.32K | 59.38K | 38.84K | 0 | 0 |
Other Income/Expense | -3.56M | -145.08K | -59.4K | 135.22K | 1.05M | 147.46K | 174.2K |
Pretax Income | -5.02M▲ 0% | -3.4M▲ 32.2% | -6.08M▼ 78.6% | -1.7M▲ 72.1% | -4.65M▼ 173.8% | -7.61M▼ 63.6% | -8.68M▲ 0% |
Pretax Margin % | -2421.22% | -1401.11% | -4218.93% | -128.49% | -4197.56% | -4508.73% | -5530.4% |
Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Net Income | -5.02M▲ 0% | -3.4M▲ 32.2% | -6.08M▼ 78.6% | -1.7M▲ 72.1% | -4.65M▼ 173.8% | -7.61M▼ 63.6% | -8.68M▲ 0% |
Net Margin % | -2421.22% | -1401.11% | -4218.93% | -128.49% | -4197.56% | -4508.73% | -5530.4% |
Net Income Growth % | - | 32.22% | -78.58% | 72.07% | -173.81% | -63.64% | -56.25% |
Net Income (Continuing) | -5.02M | -3.4M | -6.08M | -1.7M | -4.65M | -7.61M | -8.68M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -0.69▲ 0% | -0.47▲ 31.9% | -0.83▼ 76.6% | -0.23▲ 72.3% | -0.63▼ 173.9% | -0.83▼ 31.7% | -0.49▲ 0% |
EPS Growth % | - | 31.88% | -76.6% | 72.29% | -173.91% | -31.75% | -4.69% |
EPS (Basic) | -0.69 | -0.47 | -0.83 | -0.23 | -0.63 | -0.83 | - |
Diluted Shares Outstanding | 7.28M | 7.28M | 7.28M | 7.29M | 7.36M | 9.22M | 17.79M |
Basic Shares Outstanding | 7.28M | 7.28M | 7.28M | 7.29M | 7.36M | 9.22M | 17.79M |
Dividend Payout Ratio | - | - | - | - | - | - | - |
NXL Balance Sheet
Nexalin Technology, Inc. (NXL) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
Total Current Assets | 111.15K | 116.89K | 752.66K | 7.43M | 3.43M | 3.96M | 4.82M |
Cash & Short-Term Investments | 63.43K | 78.44K | 661.78K | 6.99M | 2.95M | 3.48M | 4.35M |
Cash Only | 63.43K | 78.44K | 661.78K | 162.74K | 580.23K | 574.49K | 590.08K |
Short-Term Investments | 0 | 0 | 0 | 6.83M | 2.37M | 2.91M | 3.76M |
Accounts Receivable | 5.69K | 6.6K | 16.3K | 4.88K | 9.37K | 13.04K | 7.92K |
Days Sales Outstanding | 10.01 | 9.92 | 41.3 | 1.35 | 30.88 | 28.22 | 55.41 |
Inventory | 21.6K | 22.66K | 31.41K | 154.37K | 156.42K | 174.58K | 160.22K |
Days Inventory Outstanding | 36.13 | 284.77 | 534.68 | 155.13 | 2.22K | 1.74K | 124.99 |
Other Current Assets | 0 | 0 | 0 | 272.28K | 0 | 293.6K | 296.55K |
Total Non-Current Assets | 1.36K | 1.58K | 1.04K | 6.67K | 202.02K | 261.59K | 308.56K |
Property, Plant & Equipment | 1.36K | 1.58K | 1.04K | 6.67K | 496 | 0 | 0 |
Fixed Asset Turnover | 152.82x | 154.13x | 138.66x | 197.99x | 223.28x | - | - |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 105.53K | 260.73K | 308.56K |
Long-Term Investments | 0 | 0 | 0 | 0 | 96K | 864 | 864 |
Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Assets | 112.51K▲ 0% | 118.46K▲ 5.3% | 753.7K▲ 536.2% | 7.43M▲ 886.1% | 3.63M▼ 51.1% | 4.22M▲ 16.3% | 5.13M▲ 0% |
Asset Turnover | 1.84x | 2.05x | 0.19x | 0.18x | 0.03x | 0.04x | 0.03x |
Asset Growth % | - | 5.29% | 536.24% | 886.09% | -51.13% | 16.27% | 336.02% |
Total Current Liabilities | 1.04M | 1.57M | 2.36M | 1.95M | 425.28K | 546.69K | 357.52K |
Accounts Payable | 324.47K | 461.16K | 843.79K | 658.37K | 159.53K | 155.95K | 67.49K |
Days Payables Outstanding | 542.74 | 5.8K | 14.36K | 661.61 | 2.27K | 1.56K | 118.1 |
Short-Term Debt | 551.67K | 546.8K | 737.2K | 700K | 0 | 0 | 0 |
Deferred Revenue (Current) | 0 | 0 | 130K | 0 | 0 | 0 | 0 |
Other Current Liabilities | 25.76K | 336K | 0 | 336K | 89.33K | 390.75K | 84.03K |
Current Ratio | 0.11x | 0.07x | 0.32x | 3.81x | 8.07x | 7.25x | 13.47x |
Quick Ratio | 0.09x | 0.06x | 0.31x | 3.73x | 7.70x | 6.93x | 13.03x |
Cash Conversion Cycle | -496.6 | -5.5K | -13.79K | -505.13 | -13.37 | 214.03 | 62.29 |
Total Non-Current Liabilities | 250K | 142.24K | 72K | 4.46K | 0 | 0 | 0 |
Long-Term Debt | 154.82K | 52.3K | 22.92K | 0 | 0 | 0 | 0 |
Capital Lease Obligations | 95.18K | 89.93K | 49.09K | 4.46K | 0 | 0 | 0 |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Liabilities | 1.29M | 1.71M | 2.44M | 1.95M | 425.28K | 546.69K | 357.52K |
Total Debt | 826.77K | 726.01K | 850.05K | 755.26K | 4.46K | 0 | 0 |
Net Debt | 763.34K | 647.58K | 188.27K | 592.52K | -575.77K | -574.49K | -590.08K |
Debt / Equity | - | - | - | 0.14x | 0.00x | - | 0.00x |
Debt / EBITDA | - | - | - | - | - | - | -0.00x |
Net Debt / EBITDA | - | - | - | - | - | - | 0.07x |
Interest Coverage | -18.10x | -41.41x | -73.11x | -30.87x | -146.68x | - | - |
Total Equity | -1.18M▲ 0% | -1.59M▼ 34.8% | -1.68M▼ 5.8% | 5.48M▲ 425.7% | 3.21M▼ 41.5% | 3.68M▲ 14.6% | 4.77M▲ 0% |
Equity Growth % | - | -34.85% | -5.76% | 425.74% | -41.47% | 14.64% | 352.15% |
Book Value per Share | -0.16 | -0.22 | -0.23 | 0.75 | 0.44 | 0.40 | 0.27 |
Total Shareholders' Equity | -1.18M | -1.59M | -1.68M | 5.48M | 3.21M | 3.68M | 4.77M |
Common Stock | 3.14K | 3.69K | 4.88K | 7.29K | 7.44K | 13.3K | 18.19K |
Retained Earnings | -61.21M | -64.61M | -70.69M | -72.39M | -77.04M | -84.65M | -90.49M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 0 | 0 | 0 | 36.31K | -405 | -513 | -631 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NXL Cash Flow Statement
Nexalin Technology, Inc. (NXL) cash flow — operating, investing & free cash flow history
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
Cash from Operations | -678.34K | -863.47K | -1.08M | -2.22M | -3.84M | -3.94M | -4.94M |
Operating CF Margin % | -327.09% | -355.46% | -747.43% | -167.68% | -3463.16% | -2337.82% | - |
Operating CF Growth % | - | -27.29% | -24.7% | -105.77% | -73.1% | -2.84% | -156.66% |
Net Income | -5.02M | -3.4M | -6.08M | -1.7M | -4.65M | -7.61M | -8.68M |
Depreciation & Amortization | 535 | 429 | 537 | 535 | 4.25K | 15.11K | 19.83K |
Stock-Based Compensation | 0 | 1.96M | 4.48M | 270.67K | 2.41M | 3.56M | 3.84M |
Deferred Taxes | 0 | 66.4K | -4.11M | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 4.05M | 8.82K | 4.11M | -155.02K | -835.44K | -34.48K | -35.88K |
Working Capital Changes | 288.73K | 504.84K | 522.64K | -634.07K | -768.86K | 121.65K | -92.59K |
Change in Receivables | 7.17K | -909 | -9.7K | 253 | -4.49K | -3.67K | 7.25K |
Change in Inventory | 5.9K | -1.06K | -8.75K | -142.85K | -7.81K | -18.16K | -1.85K |
Change in Payables | 277.94K | 525.99K | 382.63K | -185.43K | -498.83K | -3.58K | -99.05K |
Cash from Investing | 0 | -648 | 0 | -6.79M | 4.45M | -577.54K | 806.37K |
Capital Expenditures | 0 | -648 | 0 | 0 | -109.28K | -170.31K | -79.45K |
CapEx % of Revenue | 0% | 0.27% | - | - | 98.67% | 100.94% | 50.62% |
Acquisitions | 0 | 0 | 0 | 0 | -96K | 0 | 0 |
Investments | - | - | - | - | - | - | - |
Other Investing | 0 | 0 | 0 | 0 | 96K | 0 | 52.56K |
Cash from Financing | 726.05K | 879.13K | 1.66M | 8.51M | -200K | 4.52M | 4.65M |
Debt Issued (Net) | 63.67K | -66.7K | 190.4K | -37.2K | -200K | 0 | 0 |
Equity Issued (Net) | 662.38K | 945.83K | 1000K | 1000K | 0 | 1000K | 1000K |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 0 | 0 | 35.97K | 3.47K | 0 | 0 | 0 |
Net Change in Cash | 63.43K▲ 0% | 15.01K▼ 76.3% | 583.34K▲ 3786.6% | -499.04K▼ 185.5% | 417.49K▲ 183.7% | -5.75K▼ 101.4% | 508.65K▲ 0% |
Free Cash Flow | -678.34K▲ 0% | -864.12K▼ 27.4% | -1.08M▼ 24.6% | -2.22M▼ 105.8% | -3.94M▼ 78.0% | -3.94M▲ 0.0% | -4.96M▲ 0% |
FCF Margin % | -327.1% | -355.73% | -747.43% | -167.68% | -3561.84% | -2337.82% | -3160.84% |
FCF Growth % | - | -27.39% | -24.61% | -105.77% | -78.03% | 0.01% | -28.88% |
FCF per Share | -0.09 | -0.12 | -0.15 | -0.30 | -0.54 | -0.43 | -0.28 |
FCF Conversion (FCF/Net Income) | 0.14x | 0.25x | 0.18x | 1.31x | 0.83x | 0.52x | 0.57x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NXL Key Ratios
Nexalin Technology, Inc. (NXL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
Return on Equity (ROE) | - | - | -89.44% | -107.05% | -221.05% | -207.47% |
Return on Invested Capital (ROIC) | - | - | -60.07% | -98.19% | -202.92% | -182.97% |
Gross Margin | 88.05% | 85.12% | 72.51% | 76.81% | 78.31% | -217.76% |
Net Margin | -1401.11% | -4218.93% | -128.49% | -4197.56% | -4508.73% | -5530.4% |
Debt / Equity | - | - | 0.14x | 0.00x | - | 0.00x |
Interest Coverage | -41.41x | -73.11x | -30.87x | -146.68x | - | - |
FCF Conversion | 0.25x | 0.18x | 1.31x | 0.83x | 0.52x | 0.57x |
Revenue Growth | 17.13% | -40.69% | 817.2% | -91.62% | 52.35% | -3.18% |
Related:NXL Dividend History·NXL Revenue History·NXL Price History·NXL P/E History·NXL Financial Ratios·NXL Institutional Holders
NXL Frequently Asked Questions
Nexalin Technology, Inc. (NXL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Nexalin Technology, Inc. (NXL) reported $0.2M in revenue for fiscal year 2024. This represents a 24% decrease from $0.2M in 2019.
Nexalin Technology, Inc. (NXL) grew revenue by 52.3% over the past year. This is strong growth.
Nexalin Technology, Inc. (NXL) reported a net loss of $8.7M for fiscal year 2024.
Dividend & Returns
Nexalin Technology, Inc. (NXL) has a return on equity (ROE) of -221.1%. Negative ROE indicates the company is unprofitable.
Nexalin Technology, Inc. (NXL) had negative free cash flow of $5.0M in fiscal year 2024, likely due to heavy capital investments.