New Risk • Aug 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-US$2.8m). Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (US$80.8m market cap). Reported Earnings • Aug 09
Second quarter 2026 earnings: EPS exceeds analyst expectations Second quarter 2026 results: US$0.33 loss per share (improved from US$0.44 loss in 2Q 2025). Revenue: US$9.45m (up 28% from 2Q 2025). Net loss: US$3.06m (loss narrowed 17% from 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 22%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 09
Electrocore, Inc. Increases Earnings Guidance for the Full Year 2026 electroCore, Inc. increased earnings guidance for the full year 2026. For the period, the company expects revenue guidance to greater than 30% annual growth over full-year 2025. New Risk • Aug 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-US$5.7m). Minor Risk Market cap is less than US$100m (US$55.6m market cap). Breakeven Date Change • Aug 07 The 5 analysts covering electroCore previously expected the company to break even in 2028. New consensus forecast suggests losses will reduce by 54% per year to 2027. The company is expected to make a profit of US$4.62m in 2028. Average annual earnings growth of 88% is required to achieve expected profit on schedule.
Aankondiging • Jul 30
electroCore, Inc. to Report Q2, 2026 Results on Aug 06, 2026 electroCore, Inc. announced that they will report Q2, 2026 results After-Market on Aug 06, 2026 Aankondiging • Jul 21
electroCore, Inc., Annual General Meeting, Sep 08, 2026 electroCore, Inc., Annual General Meeting, Sep 08, 2026. Recent Insider Transactions • May 29
Founder & Independent Chairman recently bought US$60k worth of stock On the 21st of May, Thomas Errico bought around 10k shares on-market at roughly US$5.99 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Thomas has been a buyer over the last 12 months, purchasing a net total of US$127k worth in shares. Breakeven Date Change • May 18 The 5 analysts covering electroCore previously expected the company to break even in . New consensus forecast suggests the company will make a profit of US$0 in . Earnings growth of 64% is required to achieve expected profit on schedule.
New Risk • May 18
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$15m Forecast net loss in 3 years: US$48k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.9m free cash flow). Negative equity (-US$5.7m). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$48k net loss in 3 years). Significant insider selling over the past 3 months (US$97k sold). Market cap is less than US$100m (US$50.7m market cap). Aankondiging • May 15
electroCore, Inc. Announces Publication in JAMA Highlighting Benefits of Adding Quell Electrical Nerve Stimulation to Outpatient Physical Therapy in Fibromyalgia electroCore, Inc. announced the publication of new clinical findings in JAMA Network Open titled, Transcutaneous Electrical Nerve Stimulation and Pain With Movement in People With Fibromyalgia: A Cluster Randomized Clinical Trial. The study evaluated the use of a modified Quell device, an FDA-authorized nonpharmacological wearable stimulation device, when added to outpatient physical therapy (“PT”) for people with fibromyalgia. The trial enrolled 384 participants [that completed baseline data collection], including 191 individuals in the PT-Quell group and 193 individuals in the PT-only group. At day 60, reduction in movement-evoked pain was significantly greater in the PT-Quell group compared with the PT-only group, (between-group difference, -1.2 points [95% CI, -1.6 to -0.7]; P<.001), and statistically significant improvements favoring the PT-Quell group were also observed across several other secondary measures, including resting pain, pain interference, movement-evoked fatigue, resting fatigue, and fibromyalgia impact (FIQR) during the randomized phase. The benefits of Quell were observed within 30 days and were sustained for up to six months. Among respondents, 81% reported finding Quell helpful, and 55% continued to use Quell daily. Reported Earnings • May 07
First quarter 2026 earnings released: US$0.59 loss per share (vs US$0.47 loss in 1Q 2025) First quarter 2026 results: US$0.59 loss per share (further deteriorated from US$0.47 loss in 1Q 2025). Revenue: US$9.58m (up 43% from 1Q 2025). Net loss: US$5.27m (loss widened 37% from 1Q 2025). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Aankondiging • Apr 29
electroCore, Inc. to Report Q1, 2026 Results on May 06, 2026 electroCore, Inc. announced that they will report Q1, 2026 results After-Market on May 06, 2026 Aankondiging • Apr 09
Electrocore Inc Announces First Patient Enrollment in Investigator-Led Study of Gammacore nVNS for PTSD ElectroCore, Inc. announced the enrollment of the first eight patients in a clinical study being conducted by Acacia Clinics in collaboration with the Vagus Nerve Society. The study is designed to evaluate the safety and effectiveness of electroCore’s gammaCore non-invasive vagus nerve stimulation (nVNS) device as an adjunctive treatment for symptoms associated with PTSD. The study is expected to enroll up to 40 adult participants and will assess outcomes over a 12-week treatment period. The primary safety endpoint is the incidence of treatment-related serious adverse events, and the primary efficacy endpoint is the change from baseline in the Clinician-Administered PTSD Scale (CAPS-5) total score at 12 weeks. Secondary endpoints include changes in PTSD Checklist (PCL-5) scores and Clinical Global Impression (CGI) ratings. The study is sponsored by the Vagus Nerve Society, with electroCore providing an educational grant and gammaCore devices. The study is anticipated to run for approximately 10 months and is intended to generate preliminary safety and effectiveness data to inform future research in neuropsychiatric applications of nVNS. Aankondiging • Apr 01
ElectroCore Inc Announces Publication Highlighting Benefits Of Non-Invasive Vagus Nerve Stimulation In Patients With Mild Traumatic Brain Injury And PTSD ElectroCore, Inc. announced the publication of new clinical findings in Frontiers in Neuroscience titled “Adjunctive non-invasive vagus nerve stimulation for chronic mild traumatic brain injury with comorbid post-traumatic stress disorder: a post-hoc analysis” by Drs. Michael Ament, Peter Staats, Norianne Theresa Ingram, and Emily Leonard, demonstrating the potential benefits of adjunctive non-invasive vagus nerve stimulation (nVNS) in patients with chronic mild traumatic brain injury (mTBI) and comorbid post-traumatic stress disorder (PTSD). The publication reports results from a post-hoc analysis of 35 patients with chronic mTBI and PTSD. The analysis showed that adjunctive nVNS significantly reduced overall symptom burden, with observed improvements across cognitive, affective, and somatic domains. The study population represented a high-symptom-burden cohort commonly associated with persistent and difficult-to-treat neurobehavioral symptoms. The full article can be accessed here: Frontiers: nVNS for mTBI and PTSD. These findings contribute to the growing body of evidence supporting the therapeutic potential of nVNS in patients with chronic mTBI and comorbid PTSD. Major Estimate Revision • Mar 26
Consensus EPS estimates fall by 54% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$42.6m to US$42.0m. Losses expected to increase from US$0.93 per share to US$1.44. Medical Equipment industry in the US expected to see average net income growth of 15% next year. Consensus price target broadly unchanged at US$19.80. Share price fell 6.2% to US$6.15 over the past week. Breakeven Date Change • Mar 23
Forecast to breakeven in 2028 The 5 analysts covering electroCore expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 37% per year to 2027. The company is expected to make a profit of US$5.57m in 2028. Average annual earnings growth of 62% is required to achieve expected profit on schedule. Reported Earnings • Mar 21
Third quarter 2025 earnings released: US$0.40 loss per share (vs US$0.31 loss in 3Q 2024) Third quarter 2025 results: US$0.40 loss per share (further deteriorated from US$0.31 loss in 3Q 2024). Revenue: US$8.69m (up 33% from 3Q 2024). Net loss: US$3.41m (loss widened 36% from 3Q 2024). Revenue is forecast to grow 20% p.a. on average during the next 4 years, compared to a 7.9% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 20
Price target decreased by 7.9% to US$19.47 Down from US$21.14, the current price target is an average from 5 analysts. New target price is 211% above last closing price of US$6.25. Stock is down 22% over the past year. The company is forecast to post a net loss per share of US$1.72 next year compared to a net loss per share of US$1.59 last year. Aankondiging • Mar 09
electroCore, Inc. to Report Q4, 2025 Results on Mar 19, 2026 electroCore, Inc. announced that they will report Q4, 2025 results After-Market on Mar 19, 2026 New Risk • Jan 26
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$14m Forecast net loss in 3 years: US$2.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$1.1m). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$2.8m net loss in 3 years). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (US$59.7m market cap). Breakeven Date Change • Jan 26
No longer forecast to breakeven The 5 analysts covering electroCore no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$2.13m in 2027. New consensus forecast suggests the company will make a loss of US$4.86m in 2027. Aankondiging • Jan 21
electroCore, Inc. Provides Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2025 electroCore, Inc. provided earnings guidance for the fourth quarter and year ended December 31, 2025. The company anticipated reporting fourth quarter 2025 revenue is anticipated to be approximately $9.0 - $9.2 million, which would represent approximately 30% growth over fourth quarter of 2024.
The company anticipated reporting record full year 2025 revenue of approximately $31.8 - $32.0 million. This would represent approximately 26% growth over full-year 2024 revenue of $25.2 million. New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$1.1m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (US$52.4m market cap). Reported Earnings • Nov 07
Second quarter 2025 earnings released: US$0.44 loss per share (vs US$0.38 loss in 2Q 2024) Second quarter 2025 results: US$0.44 loss per share (further deteriorated from US$0.38 loss in 2Q 2024). Revenue: US$7.38m (up 20% from 2Q 2024). Net loss: US$3.67m (loss widened 38% from 2Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Nov 06
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$13m Forecast net loss in 2 years: US$5.9m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$5.9m net loss in 2 years). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (US$37.9m market cap). Breakeven Date Change • Nov 06
No longer forecast to breakeven The 5 analysts covering electroCore no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$16.4m in 2027. New consensus forecast suggests the company will make a loss of US$4.12m in 2027. Aankondiging • Oct 23
electroCore, Inc. to Report Q3, 2025 Results on Nov 05, 2025 electroCore, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 05, 2025 Aankondiging • Oct 18
electroCore, Inc. announced that it has received $1.856 million in funding On October 17, 2025, electroCore, Inc closed the transaction. the transaction included participation from 3 Investors. Aankondiging • Oct 02
electroCore, Inc. Announces the Publication of A Peer-Reviewed Study in Frontiers in Neurology Demonstrating the Effectiveness of gammaCore Non-Invasive Vagus Nerve Stimulation (nVNS) in Reducing Persistent Post-Concussion Symptoms electroCore, Inc. announced the publication of a peer-reviewed study in Frontiers in Neurology demonstrating the effectiveness of gammaCore non-invasive vagus nerve stimulation (nVNS) in reducing persistent symptoms associated with mild traumatic brain injury (mTBI). The article, entitled "Non-invasive vagus nerve stimulating is associated with the reduction in persistent post-concussion symptoms: an observational study," found that adjunctive use of gammaCore with standard care was associated with significant and clinically meaningful improvements across multiple domains of the Neurobehavioral Symptom Inventory (NSI). The study included 102 patients with persistent symptoms following mTBI. Patients experienced significant reductions in 16 of 22 symptom categories, including post-traumatic headache, dizziness, difficulty concentrating, and depression. Approximately 34% of patients reported meaningful improvement in at least half of their persistent symptoms. Importantly, improvements were observed both in patients treated within three months of injury and in those whose symptoms had persisted for over a year, suggesting that nVNS may be beneficial regardless of time since injury. Aankondiging • Sep 30
electroCore Announces Reimbursement Approval for gammaCore by RIZIV/INAMI in Belgium electroCore, Inc. announced that gammaCore Sapphire (nVNS) has been included in a long-term reimbursement policy launched by the National Institute for Health and Disability Insurance (RIZIV /INAMI) in Belgium. Effective October 1, 2025, the policy provides coverage for gammaCore Sapphire to treat patients with cluster headaches. This coverage is based on strong clinical evidence supporting the therapy's efficacy and cost-effectiveness and ensures broader access for Belgian patients. This achievement was made possible through the leadership and commitment of Silvert Medical, electroCore's distribution partner in Belgium. Silvert Medical leveraged their local expertise and strong provider relationships, playing a key role in securing reimbursement. Silvert Medical remains a vital partner in supporting the rollout of gammaCore in Belgium and is committed to extending access to gammaCore in neighboring countries. Aankondiging • Sep 05
electroCore, Inc. Announces Management Changes electroCore, Inc. announced the departure of Peter Cuneo from the Board of Directors and that Thomas J. Errico, MD, has been elected to succeed Mr. Cuneo as Chairman of the Board, effective September 2, 2025. Mr. Cuneo will continue as a strategic advisor to the Company. Aankondiging • Sep 04
electroCore, Inc. Announces Board Changes electroCore, Inc. announced that Elena Bonfiglioli, an accomplished healthcare executive, has been appointed to electroCore’s Board of Directors, effective September 2, 2025. Ms. Bonfiglioli’s appointment follows the retirement from the Board of Peter Cuneo. Ms. Bonfiglioli has been working in the health sector for more than two decades. She currently serves as Microsoft’s Global Business Leader for Healthcare, Pharma Life Sciences, and the International clinical applications’ solutions, responsible for go-to-market, commercial, and partnerships, enabling artificial intelligence (“AI”) transformation initiatives in health providers, payors and Life Sciences’ organizations globally. Since 2023, Ms. Bonfiglioli has been a Member of the Drug Information Association (“DIA”) for Europe, Middle East & Africa Regional Advisory Council, and serves as a board member of several startups in Europe and the Middle East and as advisor for biopharma organizations. Ms. Bonfiglioli was selected twice as one of the top 50 AI Innovators by Intelligent Health and was one of the founding members of the Holomedicine Association; and Vice Chair of the DIGITALEUROPE Executive Council for Healthcare since its creation in 2021. Ms. Bonfiglioli was a champion for secondary use of data to enhance research and activate the power of data to save lives. She recently joined the Board of The Women Health Initiative, a community powered by Kearney. She is active in the field of longevity and champions the shift to health enhanced by data and AI. Recent Insider Transactions • Aug 14
Founder & Independent Director recently bought US$67k worth of stock On the 11th of August, Thomas Errico bought around 15k shares on-market at roughly US$4.47 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Thomas has been a buyer over the last 12 months, purchasing a net total of US$194k worth in shares. Aankondiging • Aug 12
electroCore, Inc. Announces Appointment of Kelly Benning as Senior Vice President of Truvaga, Effective July 21, 2025 electroCore, Inc. announced that Kelly Benning has been hired as the Senior Vice President of Truvaga, effective July 21, 2025.Ms. Benning, who brings almost three decades of leadership experience across digital health, AI-enabled technologies, and consumer wellness, will lead electroCore’s consumer wellness division. Ms. Benning has successfully brought pioneering digital health products to market, including the first and only FDA-cleared watch to monitor blood pressure, delivering breakthrough solutions and expertly navigating the commercialization process. Her interest in AI and machine-learning has led her to drive continual innovation and consistent market adoption of technology at the intersection of healthcare, data, and consumer experience.Throughout her career, Ms. Benning has worked with a multitude of consumer retailers, payors, providers, and healthcare enterprises to bring clinically impactful and commercially successful products to market. She currently serves as Senior Vice President of Truvaga, electroCore’s digital wellness platform, where she leads strategy, operations, and growth. Prior to joining electroCore, Ms. Benning held executive leadership roles including President at LiveMetric, Vice President of Sales at IBM Watson Health, and senior roles at CipherHealth, Savonix, Healthgrades, and National Jewish Health. Ms. Benning holds a Bachelor of Arts in Kinesiology and Exercise Science from the University of Colorado Boulder. Aankondiging • Aug 09
electroCore, Inc Provides Earnings Guidance for the Full Year 2025 electroCore, Inc. provided earnings guidance for the full year 2025. for the year, the company expects total revenue to be approximately $30.0 million and net cash usage for the remainder of the year to be between approximately $3.9 and $4.4 million. Reported Earnings • Aug 08
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: US$0.44 loss per share (further deteriorated from US$0.38 loss in 2Q 2024). Revenue: US$7.38m (up 20% from 2Q 2024). Net loss: US$3.67m (loss widened 38% from 2Q 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 35%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Aankondiging • Aug 06
electroCore, Inc. Appoints James C. Theofilos to its Board of Directors, Effective August 1, 2025 electroCore, Inc. announced that James C. Theofilos has been appointed to the Board of Directors, effective August 1, 2025. Mr. Theofilos has been a Senior Finance Manager within the Azure and artificial intelligence division of Microsoft Corporation since October 2023. In this role, Mr. Theofilos is the Go-to-Market Finance Lead across Microsoft’s AI Apps & Agents team, which includes all of Microsoft’s AI models, GitHub Copilot, Copilot Studio, and other products that aim to deliver the full value of AI & Agents. Previously, Mr. Theofilos held various finance positions at Microsoft including his position as the Finance Lead for Microsoft’s Global Healthcare & Life Sciences Sales team, which included exposure to the Health Providers, Payors, Pharma and Med Tech industry verticals. Prior to that, Mr. Theofilos consulted as a Group Project Manager at VICI Properties Inc. Mr. Theofilos holds an M.S. in Finance and a B.S.B.A. in Finance from Washington University in Saint Louis. Aankondiging • Jul 23
electroCore, Inc. to Report Q2, 2025 Results on Aug 06, 2025 electroCore, Inc. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Aankondiging • Jul 18
electroCore, Inc., Annual General Meeting, Sep 02, 2025 electroCore, Inc., Annual General Meeting, Sep 02, 2025. Aankondiging • May 16
Happy Holstein Management, LLC Provides Information to the electroCore, Inc. On May 14, 2025, Happy Holstein Management, LLC announced that they are evaluating the feasibility of a change in the present board of directors or management of electroCore, Inc, including plans or proposals to nominate one or more director candidates, to amend the Company's charter and bylaws to remove the classified board, and other proposals to improve the corporate governance and transparency at the Company. Consistent with their investment purpose and subject to any applicable confidentiality obligations, one or more Happy Holstein Management, LLC or their representatives may engage in communications regarding the Company with other persons, including, without limitation, one or more shareholders of the Company, one or more officers of the Company and/or one or more members of the Board of Directors of the Company. Breakeven Date Change • May 12
Forecast to breakeven in 2027 The 4 analysts covering electroCore expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 77% per year to 2026. The company is expected to make a profit of US$16.4m in 2027. Average annual earnings growth of 62% is required to achieve expected profit on schedule. Price Target Changed • May 11
Price target decreased by 13% to US$21.88 Down from US$25.20, the current price target is an average from 5 analysts. New target price is 371% above last closing price of US$4.65. Stock is down 32% over the past year. The company is forecast to post a net loss per share of US$1.30 next year compared to a net loss per share of US$1.59 last year. Reported Earnings • May 10
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.47 loss per share. Revenue: US$6.72m (up 23% from 1Q 2024). Net loss: US$3.86m (loss widened 10.0% from 1Q 2024). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 5.2%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US. Aankondiging • May 08
electroCore, Inc. Provides Preliminary Revenue Guidance for Year Ending December 2025 electroCore, Inc. provided preliminary revenue guidance for year ending December 2025. For the year, the company expects total revenue to be approximately $30.0 million. Aankondiging • Apr 30
electroCore, Inc. to Report Q1, 2025 Results on May 07, 2025 electroCore, Inc. announced that they will report Q1, 2025 results After-Market on May 07, 2025 Breakeven Date Change • Apr 04
No longer forecast to breakeven The 3 analysts covering electroCore no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$1.09m in 2026. New consensus forecast suggests the company will make a loss of US$805.5k in 2026. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Independent Director Tricia Wilber was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Mar 19
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$36.4m to US$32.6m. Forecast losses increased from -US$0.475 to -US$1.24 per share. Medical Equipment industry in the US expected to see average net income growth of 18% next year. Consensus price target broadly unchanged at US$25.20. Share price fell 38% to US$8.01 over the past week. New Risk • Mar 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (US$59.4m market cap). Reported Earnings • Mar 13
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: US$1.59 loss per share (improved from US$3.42 loss in FY 2023). Revenue: US$25.2m (up 57% from FY 2023). Net loss: US$11.9m (loss narrowed 37% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.9%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 06
electroCore, Inc. to Report Q4, 2024 Results on Mar 12, 2025 electroCore, Inc. announced that they will report Q4, 2024 results After-Market on Mar 12, 2025 New Risk • Mar 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$97.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$677k net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$97.9m market cap). Aankondiging • Mar 01
electroCore, Inc. Announces Resignation of Charles S. Theofilos as A Class III Director of the Board, as A Member of the Compensation Committee of the Board, and as A Member of the Nominating and Governance Commit On February 24, 2025, Charles S. Theofilos, M.D., a member of the Board of Directors of electroCore, Inc. resigned as a Class III director of the Board, as a member of the Compensation Committee of the Board, and as a member of the Nominating and Governance Committee of the Board, in each case effective immediately. In connection with Dr. Theofilos’ resignation, on February 28, 2025, the Board decreased the size of the Board from eight to seven members, effective immediately. Aankondiging • Jan 25
electroCore, Inc. has filed a Follow-on Equity Offering in the amount of $20 million. electroCore, Inc. has filed a Follow-on Equity Offering in the amount of $20 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Jan 16
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$13m Forecast net loss in 2 years: US$677k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$677k net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Aankondiging • Dec 18
electroCore, Inc. (NasdaqCM:ECOR) entered into an agreement and plan of merger to acquire NeuroMetrix, Inc. (NasdaqCM:NURO). electroCore, Inc. (NasdaqCM:ECOR) entered into an agreement and plan of merger to acquire NeuroMetrix, Inc. (NasdaqCM:NURO) on December 17, 2024. At the effective time of the Merger (the “Effective Time”), each share of common stock, par value $0.0001 per share, of the Company (the “Company Common Stock”) outstanding immediately prior to the Effective Time, shall be cancelled and cease to exist and shall be converted into the right to receive (i) an amount in cash (the “Per Share Cash Consideration’) equal to a pro rata share of the Company’s balance of Net Cash (as determined pursuant to the Merger Agreement) at the Effective Time, after deduction of certain pro rata payments that will be due in accordance with the MRIP (as defined below), without interest and (ii) one contingent value right (a “CVR"), which shall represent the right to receive the Contingent Payments (as defined below) subject to the terms and conditions set forth in the CVR Agreement. Under the terms of the merger agreement, a subsidiary of electroCore will merge with NeuroMetrix and NeuroMetrix will become a wholly owned subsidiary of electroCore. Upon termination of the Merger Agreement under specified circumstances, the NeuroMetrix will be required to pay electroCore a termination fee of $500,000.
Consummation of the Merger is subject to customary closing conditions, including, without limitation, the absence of certain legal impediments, the approval by the holders of a majority of the outstanding shares of NeuroMetrix Common Stock entitled to vote on the Merger, the determination of Net Cash pursuant to the Merger Agreement, and the filing by the NeuroMetrix of its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close late in the first quarter of 2025.
Ira Kotel and Ilan Katz of Dentons US LLP acted as legal advisors to electroCore. Megan Gates of Covington& Burling LLP acted as legal advisor to NeuroMetrix in the transaction. Aankondiging • Nov 30
electroCore, Inc. has filed a Follow-on Equity Offering in the amount of $20 million. electroCore, Inc. has filed a Follow-on Equity Offering in the amount of $20 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Nov 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (7.4% increase in shares outstanding). Market cap is less than US$100m (US$87.7m market cap). Price Target Changed • Nov 15
Price target increased by 10% to US$25.10 Up from US$22.75, the current price target is an average from 5 analysts. New target price is 129% above last closing price of US$10.94. Stock is up 78% over the past year. The company is forecast to post a net loss per share of US$1.48 next year compared to a net loss per share of US$3.42 last year. Aankondiging • Oct 23
electroCore, Inc. to Report Q3, 2024 Results on Nov 13, 2024 electroCore, Inc. announced that they will report Q3, 2024 results After-Market on Nov 13, 2024 Major Estimate Revision • Aug 14
Consensus estimates of losses per share improve by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$24.5m to US$25.3m. EPS estimate increased from -US$1.52 per share to -US$1.36 per share. Medical Equipment industry in the US expected to see average net income growth of 17% next year. Consensus price target of US$23.10 unchanged from last update. Share price fell 2.1% to US$5.97 over the past week. Breakeven Date Change • Aug 11
Forecast to breakeven in 2026 The 5 analysts covering electroCore expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 48% per year to 2025. The company is expected to make a profit of US$1.49m in 2026. Average annual earnings growth of 70% is required to achieve expected profit on schedule. Reported Earnings • Aug 09
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: US$0.38 loss per share (improved from US$1.03 loss in 2Q 2023). Revenue: US$6.14m (up 73% from 2Q 2023). Net loss: US$2.66m (loss narrowed 46% from 2Q 2023). Revenue exceeded analyst estimates by 9.6%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Medical Equipment industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Aankondiging • Jul 31
electroCore, Inc. to Report Q2, 2024 Results on Aug 07, 2024 electroCore, Inc. announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Aankondiging • Jul 18
electroCore, Inc., Annual General Meeting, Sep 03, 2024 electroCore, Inc., Annual General Meeting, Sep 03, 2024. Aankondiging • Jun 26
electroCore Announces the Commercial Launch of TAC-STIM™? electroCore, Inc. announced the Commercial Off the Shelf (COTS) availability of the next generation TAC-STIM™?, a non-invasive vagus nerve stimulator (nVNS) designed in partnership with the US military to enhance human performance exclusively for active-duty military use. TAC-STIM is a cutting-edge device that can accelerate learning and improve mood and cognitive performance. TAC-STim is a portable, easy-to-use tool that leverages electroCore's patented technology to deliver precise and effective vagus nerve stimulation, helping war fighters and operators learn new tasks, increase readiness and mitigate fatigue across a range of high-pressure operational environments. TAC-STIM was originally developed in close collaboration with the 711th Human Performance Wing at the Air Force Research Laboratory (AFRL), Wright-Patterson AFB, OH, as part of the United States Department of Defense Biotech Optimized for Operational Solutions and tactics (BOOST) program. Independent testing by AFRL and Air Force Special Operations Command consistently demonstrated its capabilities across a range of operational settings. electroCore continues to participate in collaborative research to further enhance TAC-STIMs operational utility and showcase how TAC-STIM can enhance performance, reduce fatigue, and accelerate training without adverse effects. Key benefits of TAC-STIM include: Improve performance and combat fatigue for 12-24 hours under extreme conditions; 20-35% faster learning of complex material; Enhance ability to multi-task; Significantly decreased fatigue and increased focus. Breakeven Date Change • Jun 24
Forecast to breakeven in 2026 The 5 analysts covering electroCore expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 50% per year to 2025. The company is expected to make a profit of US$1.79m in 2026. Average annual earnings growth of 69% is required to achieve expected profit on schedule. Aankondiging • May 06
electroCore, Inc. Appoints Donald Melnikoff as SVP, Engineering, Regulatory, and Compliance electroCore, Inc. announced that on May 1, 2024, Donald Melnikoff joined electroCore as the Company’s SVP, Engineering, Regulatory, and Compliance; the Compensation Committee of electroCore’s Board of Directors granted 10,000 restricted stock units (“RSUs”) to Mr. Melnikoff in connection with the commencement of his employment. Aankondiging • May 03
electroCore, Inc. to Report Q1, 2024 Results on May 08, 2024 electroCore, Inc. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Aankondiging • Apr 30
electroCore, Inc. Announces Results of Truvaga Plus Consumer Study electroCore, Inc. announced the results of its most recent Truvaga Plus consumer study conducted earlier this year. Based on a 30-day in-home use test by an independent third-party research firm, Truvaga Plus helped its users improve sleep, focus, stress, energy, and mood. 39 participants were instructed to use the Truvaga Plus product at home twice a day for 30 days to assess the product's benefits, efficacy, and overall user experience. Self-assessment evaluations were reported after 7 and 30 days. After 30 days, users reported the following: 82% felt calmer; 82% felt mentally healthier; 77% felt more alert; 77% felt more relaxed; 74% felt they sleep better; 74% felt their mood improved; and 67% had more energy. Of those that felt they slept better, 72% reported they received between 30 minutes to 2+ hours or more sleep each night. After the study completed, 87% of users said they were likely to continue to use Truvaga Plus for ongoing overall wellness benefits. Aankondiging • Apr 10
electroCore, Inc. Announces the Launch of Truvaga Plus® for General Wellness electroCore, Inc. announced the launch of its direct-to-consumer mobile app-enabled product for general wellness, Truvaga Plus, which will be available on www.truvaga.com beginning April 8, 2024. Key features of Truvaga Plus include: Mobile App Connectivity: Empowering users to control sessions, plan schedules, and track progress conveniently through integrated mobile application. Unlimited Sessions: Providing users with the flexibility for prolonged usage and extended benefits, ensuring continuous support for achieving optimal wellness. Rechargeable: Enhancing sustainability and user convenience, Truvaga Plus features a rechargeable design for uninterrupted usage. Compact Design: Sleeker, smaller, and more portable, the new design of Truvaga Plus ensures enhanced user comfort and convenience. Aankondiging • Mar 06
electroCore, Inc. to Report Q4, 2023 Results on Mar 13, 2024 electroCore, Inc. announced that they will report Q4, 2023 results After-Market on Mar 13, 2024 Aankondiging • Dec 15
electroCore, Inc. Appoints Charles S. Theofilos as New Class Iii Member of the Board On December 8, 2023, the board of directors (the “ Board”) of electroCore, Inc. (the “ Company”) appointed Charles S. Theofilos, M.D., as a new Class III member of the Board. The term of each Class III director lasts until the Company’s 2024 annual meeting of stockholders. In connection with the appointment of Dr. Theofilos to the Board, the size of the Board was increased by resolution of the Board from seven members to eight members on December 8, 2023. Dr. Theofilos is a retired neurosurgeon who founded The Spine Center in Palm Beach Gardens, FL in 1996. He also founded and serves as President of Theo Concepts, LLC and Founder of The Theo Group, a family office. Previously, he served as Co-Director of the Neuroscience Center, Chairman of Neurosurgery, and Chairman of Cranial and Spinal Surgery, at JFK Medical Center in Atlantis, Florida, Director of Spine Surgery at Jupiter Medical Center, and Chairman of Neurosurgery at Palm Beach Gardens Medical Center. Dr. Theofilos has been a founder, director and/or investor in a number of early-stage medical device and healthcare companies, including K2Medical, SpineCore LLC and electroCore, LLC, a predecessor of the Company. Dr. Theofilos received an M.D. from Emory University School of Medicine, a B.A. in biology from Emory University, and a GMP (General Management Program) from The Wharton School of The University of Pennsylvania. Aankondiging • Oct 26
Electrocore, Inc. Announces Data Highlighting Non-Invasive Vagus Nerve Stimulation (Nvns) for Treatment of Symptoms of Gastroparesis electroCore, Inc. announced top line data from an abstract being presented as an oral podium presentation at the 2023 American College of Gastroenterology Annual Meeting held in Vancouver, Canada from October 23- 25, 2023 regarding the potential for nVNS to decrease the use of acute rescue medications for exacerbations of nausea due to Gastroparesis (GP) or Functional Dyspepsia (FD). Many gastrointestinal disorders can cause nausea and vomiting, of which the most well-known is gastroparesis, a digestive disorder in which the stomach empties slowly. The symptoms of gastroparesis can range from mild to severe, requiring prolonged hospitalizations and interventions, and causing life-threatening complications which can significantly affect the quality of life in affected individuals. It is estimated that close to 6 million Americans suffer from gastroparesis which is more common in women than men. The economic impact of gastroparesis can be substantial, with studies reporting 11% of patients disabled due to their gastroparesis symptoms, while another 28.5% reported a loss of yearly income. Nausea without slow gastric emptying may be even more common and has been referred to by many names, including chronic unexplained nausea and vomiting (CUNV), gastroparesis-like syndrome (GLS), functional vomiting, and vomiting of unexplained etiology (VUE). Many of these patients can be classified as having functional dyspepsia (FD) which is a disorder that may affect 10% of the US population. Non-Invasive Vagal Nerve Stimulation (nVNS) Reduces Nausea Rescue Medication in Patients with Gastroparesis andRelated Disorders, with Additional Benefits on Multiple Other Associated Symptoms This pilot study (n=41) included patients =15 years of age with ongoing GP or FD symptoms for a period of =3 months. The focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets. Aankondiging • Oct 10
electroCore, Inc. to Report Q3, 2023 Results on Nov 08, 2023 electroCore, Inc. announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Aankondiging • Sep 28
electroCore, Inc. Announces the Publication of Two Peer Reviewed Publication of Two Peer Reviewed Publications Supporting the Use of Gammacore ( Non-Invasive Vagus Nerve Stimulation; nVNS) in Patients with Post Traumatic Stress Disorder electroCore, Inc. announced the publication of two peer reviewed publications supporting the use of gammaCore (non-invasive vagal nerve stimulation; nVNS) in patients with posttraumatic stress disorder (PTSD). The first paper entitled "Effect of transcutaneous cervical vagus nerve stimulation on declarative and working memory in patients with Posttraumatic Stress Disorder (PTSD): A pilot study" wasauthored by Tilendra Choudhary and the second, "Transcutaneous vagal nerve stimulation modulates stress-induced plasma ghrelin levels: A double-blind, randomized, sham-controlled trial" was written by Kasra Moazzami. Both studies were conducted at Emory University and were published in the peer reviewed Journal of Affective Stress Disorder. The prevalence of PTSD in the United States is estimated at 10-12% in women and 5-6% in men, and the prevalence in veterans can be twice as high. Ghrelin is a neuropeptide hypothesized to be involved in the stress response but also plays an important role in the regulation of appetite. Biomarkers that can be easily assessed can help identify likely responders to a specific therapy and are critical to improving the patient experience and decreasing health care costs. The results of this study showed that TCVNS, in conjunction with personalized traumatic scripts, resulted in lower ghrelin levels (265.2 +- 143.6 pg/ml vs 478.7 +- 349.2 pg/ml, P = 0.01). Additionally, after completing the public speaking and mental math tests, ghrelin levels were found to be lower in the group receiving TCVNS (293.3 +- 102.4 pg/ml vs 540.3 +- 203.9 pg/ml, P =0.009).2 Ghrelin may be involved in behaviors like stress-induced over-eating, suggesting future avenues of research into the potential for nVNS in the treatment of obesity and possibly stress-induced eating disorders. Aankondiging • Aug 24
electroCore, Inc. Announces Dismissal of All Litigation Related to Its 2018 Initial Public Offering electroCore, Inc. announced that it has been completely vindicated in the securities class actions over the company’s 2018 initial public offering brought in the federal and state courts of New Jersey. The litigation has concluded without any finding of wrongdoing or liability, nor any payment, by electroCore. On July 13, 2023, District Judge Zahid N. Quraishi of the United States District for the District of New Jersey, dismissed the second amended class action complaint alleging violations of the Securities Act and the Securities Exchange Act. In a detailed opinion, Judge Quraishi considered each of the plaintiff’s allegations of misrepresentations and omissions in the prospectus for the IPO and in other public statements and filings in 2018-19 and held the plaintiff has not adequately pleaded any alleged untrue statement or that any allegedly omitted information rendered any factual statement untrue. Judge Quraishi also found that the plaintiff failed to adequately allege that electroCore intended to mislead or omit information. Judge Quraishi permitted the plaintiff thirty days to try to amend their complaint for a third time but warned that “while the Plaintiff can change the words of the Complaint, Plaintiff cannot change the words of the Prospectus.” Judge Quraishi’s dismissal followed the prior dismissal of the first amended complaint, also in a detailed opinion assessing each of plaintiff’s allegations, by District Judge Anne E. Thompson, on August 13, 2021. The plaintiff decided not to amend their complaint a third time and did not appeal the District Court’s ruling within the required time. Thus, the federal court litigation is over. This follows the termination earlier this year of litigation over the IPO and electroCore’s statements initiated in 2019 in the Somerset County, New Jersey Superior Court. That case was twice dismissed with prejudice, and on May 15, 2023, the Appellate Division of the New Jersey Superior Court unanimously affirmed the dismissal with prejudice. The time for further appeals in that case also has expired. Thus, the litigation over the initial public offering has been brought to a close with a complete vindication of electroCore, its directors and its management in their handling of the 2018 IPO. Aankondiging • Aug 11
electroCore, Inc. Reiterates Revenue Guidance for the Year 2023 electroCore, Inc. reiterated revenue guidance for the year 2023. The company reiterates its revenue guidance of $14.0 million to $15.0 million for calendar year 2023. Aankondiging • Aug 03
electroCore, Inc. to Report Q2, 2023 Results on Aug 09, 2023 electroCore, Inc. announced that they will report Q2, 2023 results After-Market on Aug 09, 2023 