Filing Flows › NeuroPace (NPCE) › Q3 2025
NeuroPace (NPCE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
NeuroPace (NPCE) reported revenue of $27.4M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +16% from the quarter before. Operating margin was -9.5%, net loss $3.5M (12.8% of revenue).
NeuroPace, Q3 2025: revenue $27.4M (+30% year over year), operating margin -9.5%, net loss $3.5M, operating cash flow −$1.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.4M | +16% | +30% |
| Operating profit | −$2.6M | — | — |
| Net earnings | −$3.5M | — | — |
| Operating cash flow | −$1.9M | — | — |
What changed
Revenue was $27.4M in Q3 2025, up 30% year over year and up 16% from the previous quarter.
Gross margin was 77.4%, up 4.2 points from a year earlier. Operating costs exceeded revenue by $2.6M, an operating margin of -9.5%. Operating expenses grew 21% against revenue growth of 30%. The fastest-growing cost line was Sales & marketing (+27%). The quarter ended with a net loss of $3.5M, narrower than the previous quarter's $8.7M loss.
Operating cash flow was −$1.9M. Non-cash charges added back $100K of depreciation and $2.6M of share-based compensation. Working capital and other items used $1.2M. Capital expenditures of $30K exceeded it, leaving free cash flow of −$2.0M.
Questions
What was NeuroPace's revenue in the third quarter 2025?
NeuroPace (NPCE) reported revenue of $27.4M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +16% from the quarter before.
Was NeuroPace profitable in the third quarter 2025?
Operating loss was $2.6M (-9.5% of revenue) and net loss $3.5M.
Source: NeuroPace 10-Q on SEC EDGAR.