Short answer
NeuroPace Inc (NPCE) filed its Q3 2025 10-Q quarterly report on Nov 4, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $27M (up 29.9% year over year) with net income of −$3M.
Q3 2025 key financials · XBRL
- Revenue
- $27M
- +29.9% YoY · +16.3% QoQ
- Net income
- −$3M
- +35.9% YoY · +59.6% QoQ
- Operating margin
- -9.5%
- Gross margin
- 77.4%
- EPS (diluted)
- −$0.11
- +38.9% YoY · +57.7% QoQ
Source: XBRL data from the NeuroPace Inc (NPCE) Q3 2025 10-Q on SEC EDGAR. USD.
NeuroPace Inc Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $27.4M, up 30% YoY from $21.1M, driven by RNS units, DIXI products and services
- Gross margin 77.4% vs 73.2% YoY, aided by lower fixed costs per RNS unit
- RNS System strongest product driver; DIXI products carried lower gross margin
- Cash, equivalents and short-term investments $60.0M at September 30, 2025; debt $58.7M
- Near-term net losses and negative cash flows expected; FDA generalized-epilepsy submission planned before year-end 2025
Risk Factors
- FDA staffing reductions may delay review of expanded labeling for generalized epilepsy and patients aged 12–17
- QMSR replaces QSR on February 2, 2026, increasing manufacturing compliance requirements
- Single-source suppliers provide key components including printed circuit assemblies and batteries
- Community-setting adoption remains critical as NeuroPace expands beyond Level 4 comprehensive epilepsy centers
- Term Loan Agreement covenants create default risk requiring immediate repayment if breached
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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