Filing Flows › NeuroPace (NPCE) › Q1 2025
NeuroPace (NPCE) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
NeuroPace (NPCE) reported revenue of $22.5M for the first quarter 2025 (Q1 2025), +24% from a year earlier and +5% from the quarter before. Operating margin was -22.9%, net loss $6.6M (29.3% of revenue).
NeuroPace, Q1 2025: revenue $22.5M (+24% year over year), operating margin -22.9%, net loss $6.6M, operating cash flow −$7.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.5M | +5% | +24% |
| Operating profit | −$5.1M | — | — |
| Net earnings | −$6.6M | — | — |
| Operating cash flow | −$7.5M | — | — |
What changed
Revenue was $22.5M in Q1 2025, up 24% year over year and up 5% from the previous quarter.
Gross margin was 77.0%, up 3.4 points from a year earlier. Operating costs exceeded revenue by $5.1M, an operating margin of -22.9%. Operating expenses grew 8% against revenue growth of 24%. The fastest-growing cost line was Research & development (+29%). The quarter ended with a net loss of $6.6M, wider than the previous quarter's $5.2M loss.
Operating cash flow was −$7.5M. Non-cash charges added back $49K of depreciation and $2.6M of share-based compensation. Working capital and other items used $3.6M. Capital expenditures of $37K exceeded it, leaving free cash flow of −$7.5M.
Questions
What was NeuroPace's revenue in the first quarter 2025?
NeuroPace (NPCE) reported revenue of $22.5M for the first quarter 2025 (Q1 2025), +24% from a year earlier and +5% from the quarter before.
Was NeuroPace profitable in the first quarter 2025?
Operating loss was $5.1M (-22.9% of revenue) and net loss $6.6M.
Source: NeuroPace 10-Q on SEC EDGAR.