Revenue remains erratic with a 63.5% year-over-year decline in 2026Q1, while operating expenses continue to dwarf income, resulting in a -141.8% operating margin.
| Sales/Revenue | 275.58K | 301.65K | 168.72K | 110.75K | 1.32M | 144.06K | 242.91K | 207.38K |
| Revenue Growth % | 110.26% | 78.78% | 52.35% | -91.62% | 817.2% | -40.69% | 17.13% | - |
| Cost of Goods Sold | 559.03K | 61.37K | 36.59K | 25.69K | 363.21K | 21.44K | 29.04K | 218.21K |
| COGS % of Revenue | - | 20.35% | 21.69% | 23.2% | 27.49% | 14.88% | 11.95% | 105.22% |
| Gross Profit | -283.45K | 240.27K | 132.13K | 85.06K | 958.14K | 122.62K | 213.88K | -10.83K |
| Gross Margin % | -102.86% | 79.65% | 78.31% | 76.81% | 72.51% | 85.12% | 88.05% | -5.22% |
| Gross Profit Growth % | - | 81.85% | 55.34% | -91.12% | 681.37% | -42.67% | 2075.39% | - |
| Operating Expenses | 8.22M | 8.63M | 7.89M | 5.78M | 2.79M | 6.14M | 3.47M | 1.46M |
| OpEx % of Revenue | - | 2861.34% | 4674.45% | 5220.28% | 211.24% | 4262.81% | 1429.43% | 701.76% |
| Selling, General & Admin | 7.19M | 7.55M | 6.7M | 3.86M | 2.79M | 6.14M | 3.47M | 1.46M |
| SG&A % of Revenue | - | 2502.14% | 3968.62% | 3484.98% | 211.24% | 4262.81% | 1429.43% | 701.76% |
| Research & Development | 1.02M | 1.08M | 1.19M | 1.92M | 511K | 139K | 0 | 0 |
| R&D % of Revenue | - | 359.2% | 705.9% | 1735.47% | 38.67% | 96.48% | - | - |
| Other Operating Expenses | 0 | 0 | -116 | -189 | -511K | -139K | 0 | 0 |
| Operating Income | -8.5M | -8.39M | -7.75M | -5.7M | -1.83M | -6.02M | -3.26M | -1.47M |
| Operating Margin % | -3084.22% | -2781.69% | -4596.14% | -5143.48% | -138.72% | -4177.7% | -1341.38% | -706.98% |
| Operating Income Growth % | - | -8.2% | -36.13% | -210.76% | 69.54% | -84.71% | -122.24% | - |
| EBITDA | -8.47M | -8.37M | -7.74M | -5.69M | -1.83M | -6.02M | -3.26M | -1.47M |
| EBITDA Margin % | -3074.21% | -2774.55% | -4587.18% | -5139.63% | -138.29% | -4177.33% | -1341.21% | -706.72% |
| EBITDA Growth % | 2.34% | -8.14% | -35.97% | -211.5% | 69.64% | -84.72% | -122.29% | - |
| D&A (Non-Cash Add-back) | 27.59K | 21.54K | 15.11K | 4.25K | 5.72K | 537 | 429 | 535 |
| EBIT | -8.33M | -8.22M | -7.61M | -4.61M | -1.64M | -6M | -3.32M | -1.47M |
| Net Interest Income | 4.88K | 8.24K | 3.19K | -38.84K | -59.38K | -82.32K | -78.68K | 0 |
| Interest Income | 4.88K | 8.24K | 3.19K | 0 | 0 | 0 | 0 | 80.99K |
| Interest Expense | 0 | 0 | 0 | 38.84K | 59.38K | 82.32K | 78.68K | 80.99K |
| Other Income/Expense | 168.88K | 168.7K | 147.46K | 1.05M | 135.22K | -59.4K | -145.08K | -3.56M |
| Pretax Income | -8.33M | -8.22M | -7.61M | -4.65M | -1.7M | -6.08M | -3.4M | -5.02M |
| Pretax Margin % | -3022.94% | -2725.76% | -4508.73% | -4197.56% | -128.49% | -4218.93% | -1401.11% | -2421.22% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -8.33M | -8.22M | -7.61M | -4.65M | -1.7M | -6.08M | -3.4M | -5.02M |
| Net Margin % | -3022.94% | -2725.76% | -4508.73% | -4197.56% | -128.49% | -4218.93% | -1401.11% | -2421.22% |
| Net Income Growth % | 2.61% | -8.08% | -63.64% | -173.81% | 72.07% | -78.58% | 32.22% | - |
| Net Income (Continuing) | -8.33M | -8.22M | -7.61M | -4.65M | -1.7M | -6.08M | -3.4M | -5.02M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.42 | -0.50 | -0.83 | -0.63 | -0.23 | -0.83 | -0.47 | -0.69 |
| EPS Growth % | 44.05% | 39.76% | -31.75% | -173.91% | 72.29% | -76.6% | 31.88% | - |
| EPS (Basic) | - | -0.50 | -0.83 | -0.63 | -0.23 | -0.83 | -0.47 | -0.69 |
| Diluted Shares Outstanding | 19.82M | 16.39M | 9.22M | 7.36M | 7.29M | 7.28M | 7.28M | 7.28M |
| Basic Shares Outstanding | 19.82M | 16.39M | 9.22M | 7.36M | 7.29M | 7.28M | 7.28M | 7.28M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Liquidity and Regulatory Dependency
As reported in financial statements, Nexalin's revenue trajectory remains highly volatile, with quarterly figures fluctuating between $14.9K and $171.9K over the last ten periods, suggesting that the company has yet to establish a predictable or scalable commercial revenue stream for its neurostimulation technology.
The lack of consistent sequential growth indicates that current revenue is likely driven by sporadic licensing milestones rather than recurring product adoption. Investors should monitor whether the company can transition from this project-based model to a sustainable commercial cadence, as the current volatility makes long-term revenue forecasting highly speculative.
Based on reported figures, Nexalin maintains a gross margin that frequently exceeds 70%, which suggests that the underlying cost of its proprietary neurostimulation hardware is relatively low compared to its potential market pricing, provided the company can eventually achieve meaningful commercial scale and manufacturing efficiencies.
While the high gross margin is a positive indicator of potential profitability, it is currently obscured by the company's inability to cover its fixed operating costs. The margin profile appears to be a function of low-volume, high-value licensing, which may compress if the company shifts toward a more traditional, lower-margin hardware distribution model.
According to recent SEC filings, Nexalin's operating expenses, particularly SG&A and R&D, consistently dwarf its quarterly revenue, resulting in an operating margin of -2781% in the most recent period, which highlights the extreme financial pressure of maintaining clinical-stage operations without a self-sustaining revenue base.
The company's cost structure is heavily weighted toward R&D and clinical validation, which are necessary for long-term viability but currently represent a significant drain on liquidity. Management's expense discipline appears secondary to the urgent requirement of funding clinical trials, leaving little room for operational optimization until regulatory milestones are achieved.
Based on the provided financial data, Nexalin's cash position of approximately $654,783 appears insufficient to support its ongoing quarterly operating losses, which suggests that the company faces a high probability of near-term dilutive financing or a potential going concern risk if external capital access becomes restricted.
Short-sellers would likely focus on the widening gap between the company's cash burn and its ability to generate meaningful revenue. The reliance on external funding to bridge this gap creates a precarious situation where shareholder value may be significantly eroded by future equity raises required to sustain the current R&D trajectory.
Quick answers to the most common questions about buying NXL stock.
For fiscal year 2025, Nexalin Technology, Inc. (NXL) reported total revenue of $0.3M. This represents a 45.5% increase compared to $0.2M in 2019.
Nexalin Technology, Inc. (NXL) reported a net loss of $8.2M for the fiscal year ending 2025.
Nexalin Technology, Inc. (NXL) reported an operating income of $-8.4M, resulting in an operating profit margin of -2781.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Nexalin Technology, Inc. (NXL) generated $0.2M in gross profit for the year, representing a gross profit margin of 79.7%. This demonstrates the company's core pricing power and production efficiency.