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Neuraxis (NRXS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · Neuraxis (NRXS) Q2 2026 earnings results →
Q2 2026 Revenue up 116% year over year to $1.9M · 108¢ of every $1 of revenue lost · operating margin -110.2%
Neuraxis made $1.9M in Q2 2026 (+116% Y/Y). Operating margin -110.2%, net loss $2.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
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What changed this quarter
Revenue was $1.9M in Q2 2026, up 116% year over year and up 20% from the previous quarter.
Gross margin was 85.9%, up 2.3 points from Q2 2025. Operating costs exceeded revenue by $2.1M, an operating margin of -110.2%. Operating expenses grew 53% against revenue growth of 116%. The fastest-growing cost line was Research & development (+138%). The quarter ended with a net loss of $2.1M, wider than the previous quarter's $1.8M loss.
Operating cash flow was −$1.0M. Non-cash charges added back $17K of depreciation and amortization and $640K of share-based compensation. Working capital and other items added $400K. Capital expenditures of $106K exceeded it, leaving free cash flow of −$1.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $1.9M | +116% | -110.2% | −$2.1M | −$1.0M |
| Q1 2026 | 10-Q | May 12, 2026 | $1.6M | +80% | -108.3% | −$1.8M | −$1.2M |
| Q4 2025 | 10-K | Mar 19, 2026 | $968K | +27% | -177.3% | −$1.7M | −$1.9M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $811K | +22% | -258.8% | −$2.1M | −$1.4M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $894K | +46% | -192.1% | −$1.7M | −$1.5M |
| Q1 2025 | 10-Q | May 12, 2025 | $896K | +38% | -256.2% | −$2.3M | −$1.6M |
| Q4 2024 | 10-K | Mar 20, 2025 | $761K | +43% | -192.7% | −$1.4M | −$1.8M |
Charts
Interactive views
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💵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 Neuraxis
Neuraxis, Inc. (“we”, “us”, the “Company” or “Neuraxis”) is a first-to-market growth-stage medical technology company focused on neuromodulation therapies for chronic and debilitating conditions in gastrointestinal (GI) digestive system, specifically from disorders of the gut-brain interaction (DGBIs) in pediatrics and adults. With several indications in the market and additional clinical trials of Percutaneous Electrical Nerve Field Stimulation (PENFS) in multiple pediatric and adult conditions underway, we are focused on unmet GI healthcare needs in children and adults. We are dedicated to advancing science with our proprietary IB-Stim ® therapy, based on our PENFS technology, which was developed internally by the Company. We believe that superior science and evidence-based research are necessary for adoption by the medical and scientific community.
In its own words, from its 10-K, filed Mar 19, 2026.
Neuraxis against its Electromedical & Electrotherapeutic Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +116% against the peers' median +14%. Operating margin: -110.2% against the peers' median 6.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NRXS Neuraxis | Q2 2026 | $1.9M | +116% | -110.2% |
| MDT Medtronic | Q1 FY27 | $9.8B | +14% | 18.1% |
| ITGR Integer Holdings | Q3 2026 | $450M | -4% | 6.3% |
| LIVN LivaNova | Q3 2026 | $393M | +10% | 7.2% |
| CNMD Conmed | Q3 2026 | $336M | -0.7% | 11.1% |
| TMDX TransMedics Group | Q3 2026 | $203M | +41% | 13.9% |
| AXGN Axogen | Q3 2026 | $75.8M | +26% | 1.3% |
| OM Outset Medical | Q3 2026 | $33.6M | +14% | -36.5% |
| CBLL Ceribell | Q3 2026 | $29.3M | +30% | -70.0% |
Source: Neuraxis 10-Q on SEC EDGAR · CIK 1933567 · Electromedical & Electrotherapeutic Apparatus
13F: who owns NRXS and who is buying
More on NRXS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results