Filing Flows › NeuroPace (NPCE) › Q4 2025
NeuroPace (NPCE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 3, 2026
NeuroPace (NPCE) reported revenue of $26.6M for the fourth quarter 2025 (Q4 2025), +24% from a year earlier and -3% from the quarter before. Operating margin was -6.6%, net loss $2.7M (10.3% of revenue).
NeuroPace, Q4 2025: revenue $26.6M (+24% year over year), operating margin -6.6%, net loss $2.7M, operating cash flow $506K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.6M | -3% | +24% |
| Operating profit | −$1.8M | — | — |
| Net earnings | −$2.7M | — | — |
| Operating cash flow | $506K | — | — |
| Free cash flow | $409K | — | — |
What changed
Revenue was $26.6M in Q4 2025, up 24% year over year and down 3% from the previous quarter.
Gross margin was 77.4%, up 2.0 points from Q4 2024. Operating costs exceeded revenue by $1.8M, an operating margin of -6.6%. Operating expenses grew 13% against revenue growth of 24%. The fastest-growing cost line was Research & development (+16%). The quarter ended with a net loss of $2.7M, narrower than the previous quarter's $3.5M loss.
Operating cash flow was $506K. Non-cash charges added back $80K of depreciation and $2.6M of share-based compensation. Working capital and other items added $548K. Capital expenditures of $97K left free cash flow of $409K.
Questions
What was NeuroPace's revenue in the fourth quarter 2025?
NeuroPace (NPCE) reported revenue of $26.6M for the fourth quarter 2025 (Q4 2025), +24% from a year earlier and -3% from the quarter before.
Was NeuroPace profitable in the fourth quarter 2025?
Operating loss was $1.8M (-6.6% of revenue) and net loss $2.7M.
Source: NeuroPace 10-K on SEC EDGAR.