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NeuroPace (NPCE) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · NeuroPace (NPCE) Q2 2026 earnings results →
Q2 2026 Revenue up 17% year over year to $22.8M · 27¢ of every $1 of revenue lost · operating margin -22.5%
NeuroPace made $22.8M in Q2 2026 (+17% Y/Y). Operating margin -22.5%, net loss $6.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $22.8M in Q2 2026, up 17% year over year and up 3% from the previous quarter.
Gross margin was 82.8%, down 0.3 points from Q2 2025. Operating costs exceeded revenue by $5.1M, an operating margin of -22.5%. Operating expenses fell 1% while revenue rose 17%. The quarter ended with a net loss of $6.2M, narrower than the previous quarter's $6.7M loss.
Operating cash flow was −$3.9M. Non-cash charges added back $100K of depreciation and $2.3M of share-based compensation. Capital expenditures of $125K exceeded it, leaving free cash flow of −$4.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $22.8M | +17% | -22.5% | −$6.2M | −$3.9M |
| Q1 2026 | 10-Q | May 12, 2026 | $22.1M | -2% | -25.2% | −$6.7M | −$5.9M |
| Q4 2025 | 10-K | Mar 3, 2026 | $26.6M | +24% | -6.6% | −$2.7M | $506K |
| Q3 2025 | 10-Q | Nov 4, 2025 | $27.4M | +30% | -9.5% | −$3.5M | −$1.9M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $23.5M | +22% | -29.0% | −$8.7M | −$2.1M |
| Q1 2025 | 10-Q | May 13, 2025 | $22.5M | +24% | -22.9% | −$6.6M | −$7.5M |
| Q4 2024 | 10-K | Mar 4, 2025 | $21.5M | +19% | -17.0% | −$5.2M | −$4.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About NeuroPace
We are a medical device company focused on transforming the lives of people living with epilepsy by reducing or eliminating the occurrence of debilitating seizures. Our novel and differentiated RNS System is the first and only commercially available, brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source. By continuously monitoring and analyzing the brain’s electrical activity, recognizing patient-specific abnormal electrical patterns, and responding in real time with imperceptible electrical pulses to prevent seizures, our RNS System is programmed by clinicians to deliver the precise amount of therapy when and where it is needed and provides exceptional clinical outcomes with approximately three minutes of stimulation on average per day.
In its own words, from its 10-K, filed Mar 3, 2026.
NeuroPace against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +17% against the peers' median +5%. Operating margin: -22.5% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NPCE NeuroPace | Q2 2026 | $22.8M | +17% | -22.5% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: NeuroPace 10-Q on SEC EDGAR · CIK 1528287 · Surgical & Medical Instruments & Apparatus
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results