NeuroMetrix, Inc.

NasdaqCM:NURO Lagerbericht

Marktkapitalisierung: US$9.0m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

NeuroMetrix Vergangene Ertragsentwicklung

Vergangenheit Kriterienprüfungen 0/6

Die Gewinne von NeuroMetrix sind mit einer durchschnittlichen Jahresrate von -22.7% zurückgegangen, während die Gewinne der Branche Medical Equipment um 15.3% pro Jahr wuchsen. Die Umsätze sind zurückgegangen mit einer durchschnittlichen Jahresrate von 11.8%.

Wichtige Informationen

-22.67%

Wachstumsrate der Gewinne

43.15%

EPS-Wachstumsrate

Medical Equipment Wachstum der Industrie8.90%
Wachstumsrate der Einnahmen-11.79%
Eigenkapitalrendite-54.54%
Netto-Marge-257.38%
Letzte Ertragsaktualisierung31 Dec 2024

Jüngste Aktualisierungen vergangener Leistungen

Recent updates

Seeking Alpha • Oct 20

NeuroMetrix reports Q3 results

NeuroMetrix press release (NASDAQ:NURO): Q3 net loss of $1.6M Revenue of $2M (-4.8% Y/Y).
Seeking Alpha • Sep 23

NeuroMetrix: Strong Unit Economics, Accelerating Growth; Possibly Worth $15 In 5 Years

Summary DPNCheck is a screening product sold to MA insurers which gives better member health outcomes, lower cost, and increased revenue for MA insurers. The product has consistently grown >20%. Discontinuation of Quell marketing in 2018 is masking the strong, underlying growth in DPNCheck. The result is rev growth is now accelerating. Clean cap structure and balance sheet with $3.24/share which is sufficient to fund the business to profitability. Potential $15/share fair value in 5 years based on 20x FCF. For those who follow small cap med devices, NURO's business is ~85% SMLR and ~15% ZYXI. Thesis Overview The most profitable investments in microcap stocks are made when businesses reach inflection points, then go on to deliver years of organic growth and inflect to profitability. I believe that NeuroMetrix (NURO) is at that turning point. After a long history of losses and shareholder dilution from spending on R&D that didn’t work and attempts to sell medical devices that were not successful, NURO now has a clean capital structure and balance sheet with a proven business that is scaling with strong unit economics. NURO has a promising medical device called DPNCheck, which is used for early disease detection of diabetic polyneuropathy (DPN) and is sold to Medicare Advantage ((MA)) insurers with >80% of revenue from consumables. They are following the same business model as Semler Scientific (SMLR), who built a strong business by showing MA insurers that early disease detection leads to better patient outcomes, lower cost to serve patients, and increased revenue for the MA insurers through appropriately risk-coding patients. DPNCheck launched in 2011 and has grown at a >20% CAGR in recent years to $7.4m revenue in 2022. That >20% organic growth is set to continue indefinitely at ~80% gross margins. Most importantly, DPNCheck’s go-to-market is very efficient because they sell at the top level to UNH and HUM, who then push down to their organization. DPNCheck’s consistent growth and strong unit economics has been masked by NURO’s Quell product which the company sells direct-to-consumer as an over-the-counter (OTC) medical device for pain management. The company created a slick product that works well and grew it to ~$14m of revenue in 2017, but had to spend aggressively on online advertising and TV ads to get that growth (negative unit economics). In 2018, management realized their market efforts were not going to pay off for Quell because the market for TENS-like devices is too crowded, so they stopped advertising. That led to revenue declining to <$2m in 2022, which is now mostly consumable pads that are ordered by customers and paid through credit card (no insurance pay). Management pivoted the strategy for their Quell device to focusing on gaining breakthrough designation by the FDA for patients with Fibromyalgia. 10 million Americans suffer from debilitating pain from Fibromyalgia. Quell may receive FDA clearance for the device for patients with Fibromyalgia in late 2022 and begin marketing to physicians in early 2023. Having a physician prescription means they can pursue insurance reimbursement which results in a much, much higher revenue per device than selling in the highly competitive over-the-counter market. Zynex sells a prescription pain management device, but sells primarily through physical therapists and does not have specific indications or data supporting efficacy, like Quell does. The takeaways are that NURO’s revenue growth is accelerating. After revenue declines in 2018-2020 from unprofitable Quell OTC revenue falling, NURO grew 12% in 2021 and will grow 12% in 2022. I expect revenue growth to accelerate to >20% and maintain that growth for several years, primarily from DPNCheck. After significant losses from Quell advertising, NURO raised highly dilutive preferred capital in the 2016-2018 range (please refer to NURO's form 10-K filings for details). After cleaning up the cap structure, NURO raised over $20m through DRIP equity raises (selling shares directly into the market) in 2020 and 2021 (including some very attractive sales prices last year when the stock price spiked >$10/share). All this leads to an ugly and messy past, in which the share count has gone way up and the stock price way down. However, I believe that evaluating the business based on current facts, shows that NURO is an undervalued med device company that is well capitalized to pursue this growth. The company now has a clean capital structure with 7.1m shares and 0.5m options for management, no debt, no preferred, no warrants, and $23m of cash. I expect NURO to burn $3.8m in 2022, $2.7m in 2023, $1.7m in 2024, and $0.2m in 2025. Then it should start generating cash, with +$2.1m in 2026, +$4.9m in 2027. I model trough cash of $16m in 2025. On profitability, I expect the business will generate $5m of free cash flow in 2027 and be worth 20x FCF plus net cash, which gives a value of $15/share. Studying Semler’s history, once the business crossed $14m in revenue, it inflected to profitability and never looked back. DPNCheck currently has $7.4m in revenue, and I expect it to cross that threshold exiting 2025. SMLR has proven how strong the unit economics are in this business with 37% EBITDA margins in 2Q22. Revenue Mix Shift Well Underway Higher quality, more profitable DPNCheck revenue is replacing negative margin Quell revenue (when including expensive marketing spend in the past). As rev mix continues to shift, the growth will accelerate and the business will reach profitability.
Seeking Alpha • Jul 21

NeuroMetrix GAAP EPS of -$0.17, revenue of $2.1M

NeuroMetrix press release (NASDAQ:NURO): Q2 GAAP EPS of -$0.17. Revenue of $2.1M (-5.0% Y/Y).
Analyseartikel • May 11

We're Hopeful That NeuroMetrix (NASDAQ:NURO) Will Use Its Cash Wisely

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Analyseartikel • Jan 19

Here's Why We're Not Too Worried About NeuroMetrix's (NASDAQ:NURO) Cash Burn Situation

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...
Seeking Alpha • Sep 09

NeuroMetrix: Solving Unmet Needs In Diagnostics And Therapeutic Neurostimulation

NeuroMetrix is a medical devices company with three commercialized products. The Company says it was spun off from the Harvard-MIT Division of Health Sciences and Technology in 1996. The Company has active R&D programs to expand into new indications and improve existing technologies.
Analyseartikel • Jul 21

We're Hopeful That NeuroMetrix (NASDAQ:NURO) Will Use Its Cash Wisely

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, NeuroMetrix...
Analyseartikel • Jan 27

NeuroMetrix (NASDAQ:NURO) Is In A Good Position To Deliver On Growth Plans

We can readily understand why investors are attracted to unprofitable companies. For example, although...

Aufschlüsselung der Einnahmen und Ausgaben

Wie NeuroMetrix Geld verdient und ausgibt. Basierend auf den neuesten gemeldeten Einnahmen der letzten zwölf Monate.

Gewinn- und Umsatzhistorie

NasdaqCM:NURO Einnahmen, Ausgaben und Erträge (USD Millions)
DatumEinnahmenGewinnAllgemeine und VerwaltungskostenF&E-Ausgaben
31 Dec 243-891
30 Sep 244-892
30 Jun 244-892
31 Mar 245-893
31 Dec 236-793
30 Sep 236-682
30 Jun 237-583
31 Mar 238-583
31 Dec 228-473
30 Sep 228-573
30 Jun 228-473
31 Mar 228-363
31 Dec 218-262
30 Sep 218-261
30 Jun 218-161
31 Mar 217-151
31 Dec 207-262
30 Sep 207-362
30 Jun 207-471
31 Mar 208-692
31 Dec 199-4112
30 Sep 1911-6133
30 Jun 1913-3144
31 Mar 19141154
31 Dec 18160155
30 Sep 18170164
30 Jun 1817-7174
31 Mar 1818-11173
31 Dec 1717-20173
30 Sep 1716-20173
30 Jun 1716-17173
31 Mar 1714-38164
31 Dec 1612-35164
30 Sep 1611-43164
30 Jun 1610-42154
31 Mar 168-23143
31 Dec 157-21133
30 Sep 156-13123
30 Jun 155-11113
31 Mar 155-12103
31 Dec 146-1183
30 Sep 146-1273
30 Jun 145-1173

Qualität der Erträge: NURO ist derzeit unrentabel.

Wachsende Gewinnspanne: NURO ist derzeit unrentabel.

Analyse von freiem Cashflow und Gewinn

Analyse des Gewinnwachstums in der Vergangenheit

Ergebnisentwicklung: NURO ist unrentabel, und die Verluste haben in den letzten 5 Jahren mit einer Rate von 22.7% pro Jahr zugenommen.

Beschleunigtes Wachstum: Das Gewinnwachstum des letzten Jahres kann nicht mit dem 5-Jahres-Durchschnitt von NURO verglichen werden, da das Unternehmen derzeit nicht profitabel ist.

Erträge im Vergleich zur Industrie: NURO ist unrentabel, was einen Vergleich des Gewinnwachstums des letzten Jahres mit der Branche Medical Equipment (14.8%) erschwert.

Eigenkapitalrendite

Hohe Eigenkapitalrendite: NURO hat eine negative Eigenkapitalrendite (-54.54%), da es derzeit unrentabel ist.

Kapitalrendite

Rendite auf das eingesetzte Kapital

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Unternehmensanalyse und Finanzdaten Status

DatenZuletzt aktualisiert (UTC-Zeit)
Unternehmensanalyse2025/05/01 12:31
Aktienkurs zum Tagesende2025/05/01 00:00
Gewinne2024/12/31
Jährliche Einnahmen2024/12/31

Datenquellen

Die in unserer Unternehmensanalyse verwendeten Daten stammen von S&P Global Market Intelligence LLC. Die folgenden Daten werden in unserem Analysemodell verwendet, um diesen Bericht zu erstellen. Die Daten sind normalisiert, was zu einer Verzögerung bei der Verfügbarkeit der Quelle führen kann.

PaketDatenZeitrahmenBeispiel US-Quelle *
Finanzdaten des Unternehmens10 Jahre
  • Gewinn- und Verlustrechnung
  • Kapitalflussrechnung
  • Bilanz
Konsensschätzungen der Analysten+3 Jahre
  • Finanzielle Vorausschau
  • Kursziele der Analysten
Marktpreise30 Jahre
  • Aktienkurse
  • Dividenden, Splits und Aktionen
Eigentümerschaft10 Jahre
  • Top-Aktionäre
  • Insiderhandel
Verwaltung10 Jahre
  • Das Führungsteam
  • Direktorium
Wichtige Entwicklungen10 Jahre
  • Ankündigungen des Unternehmens

* Beispiel für US-Wertpapiere, für nicht-US-amerikanische Wertpapiere werden gleichwertige regulatorische Formulare und Quellen verwendet.

Sofern nicht anders angegeben, beziehen sich alle Finanzdaten auf einen Jahreszeitraum, werden aber vierteljährlich aktualisiert. Dies wird als Trailing Twelve Month (TTM) oder Last Twelve Month (LTM) Daten bezeichnet. Erfahren Sie mehr.

Analysemodell und Schneeflocke

Einzelheiten zu dem Analysemodell, mit dem dieser Bericht erstellt wurde, finden Sie auf unserer Github-Seite. Außerdem bieten wir Leitfäden zur Verwendung unserer Berichte und Tutorials auf YouTube an.

Erfahren Sie mehr über das Weltklasse-Team, das das Simply Wall St-Analysemodell entworfen und entwickelt hat.

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Analysten-Quellen

NeuroMetrix, Inc. wird von 2 Analysten beobachtet. 0 dieser Analysten hat die Umsatz- oder Gewinnschätzungen übermittelt, die als Grundlage für unseren Bericht dienen. Die von den Analysten übermittelten Daten werden im Laufe des Tages aktualisiert.

AnalystEinrichtung
Andrew FeinH.C. Wainwright & Co.
Anthony VendettiMaxim Group