NeuroPace Reports Q4 Revenue of $26.59M, Beats Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
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Should l Buy NPCE?
Reports Q4 revenue $26.59M, consensus $24.79M. "2025 marked an important execution year for NeuroPace, with strong growth and significant improvement toward cash flow break-even, increasing focus on our core RNS business, and meaningful progress across our strategic priorities," said Joel Becker, Chief Executive Officer of NeuroPace. "Looking ahead, we believe 2026 has the potential to be a transformational year for the Company, as we build on commercial momentum, prepare for indication expansion, and launch as well as advance new products that expand the reach and impact of personalized neuromodulation."
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Analyst Views on NPCE
Wall Street analysts forecast NPCE stock price to rise
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 13.830
Low
16.00
Averages
19.17
High
22.00
Current: 13.830
Low
16.00
Averages
19.17
High
22.00
About NPCE
NeuroPace, Inc. is a medical device company. The Company is focused on transforming the lives of people living with epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is a brain-responsive platform that delivers personalized, real-time treatment at the seizure source. The Company has developed its RNS System to address the individualized nature of drug-resistant epilepsy and deliver a safe therapy for focal onset seizures anywhere in the brain. The RNS System is a device that records brain activity data and allows clinicians to monitor patients not only in person, but also remotely. The RNS System monitors and analyzes the brain’s electrical activity, recognizes patient-specific abnormal patterns, and delivers treatment at the seizure source. The Company’s RNS System is also engaged in treating other brain disorders, including depression, impulse control disorders, memory disorders, and post-traumatic stress disorders.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Earnings Beat: NeuroPace reported Q4 2025 revenue of $26.6 million, a 24% increase from Q4 2024, surpassing analyst expectations of $24.4 million, indicating strong performance in the medical device sector.
- Narrowed Net Loss: The company reduced its GAAP net loss to $2.7 million ($0.08 per share) from nearly $5.3 million last year, reflecting improved operational efficiency and cost management.
- Revenue Driver: The RNS System, NeuroPace's primary product, saw sales rise by 26% to over $22 million, driven by favorable Medicare reimbursement policies and an increase in prescribers and accounts, solidifying its market position in epilepsy treatment.
- Future Guidance: Management reiterated its 2026 revenue guidance of $98 million to $100 million, which, while lower than the $100 million in 2025, still reflects confidence in future growth, with expected EBITDA losses between $9 million and $10 million.
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- Significant Revenue Growth: NeuroPace reported fourth-quarter revenue of $26.6 million for 2025, marking a 24% increase over the same period in 2024, particularly driven by a 26% rise in sales of its RNS System, exceeding $22 million.
- Narrowed Net Loss: The company reduced its GAAP net loss to $2.7 million ($0.08 per share) from nearly $5.3 million a year ago, indicating progress in cost control and operational efficiency.
- Positive Market Reaction: Following the earnings release, NeuroPace's stock rose nearly 1% in after-hours trading, reflecting investor recognition of the company's performance, although the future revenue guidance did not elicit a strong response.
- Future Outlook: Management reiterated its 2026 revenue guidance of $98 million to $100 million, which, while lower than the $100 million in 2025, still demonstrates confidence in future growth, especially supported by favorable Medicare reimbursement policies.
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- Strong Revenue Growth: NeuroPace achieved $26.6 million in revenue for Q4 2025, reflecting a 24% year-over-year increase, with RNS System revenue reaching $22.4 million, up 26%, indicating deepening market penetration and customer base in adult focal epilepsy.
- Improved Profitability: The gross margin exceeded 77% in Q4, up approximately 200 basis points year-over-year, showcasing the company's ongoing focus on financial discipline and operational leverage, despite an operational loss of $1.8 million, which is a significant improvement from the $3.7 million loss in the prior year.
- Ongoing Strategic Investments: The company continues to invest in its commercial organization, including adding sales representatives and nurse navigator resources to support the rollout of RNS therapy, with full-year revenue guidance for 2026 set at $98 million to $100 million, assuming a core RNS growth rate of 20% to 22%.
- Launch of Innovative Tool: NeuroPace introduced the AI-enabled Seizure ID tool designed to rapidly analyze patients' iEEG records and identify seizure trends, enhancing the relevance of clinical data and treatment outcomes, marking a strategic advancement in the company's technological innovation.
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- Earnings Highlights: NeuroPace reported a Q4 GAAP EPS of -$0.08, beating expectations by $0.08, indicating an improvement in profitability despite remaining in the red.
- Revenue Growth: The company achieved revenue of $26.6 million, a 23.9% year-over-year increase, surpassing expectations by $1.81 million, reflecting sustained demand for its products and driving overall performance.
- Future Outlook: NeuroPace projects full-year 2026 revenue between $98 million and $100 million, representing a growth potential of 20% to 22%, demonstrating the company's confidence in future market opportunities.
- Cost Management: Non-GAAP gross margin is expected to range from 81.5% to 82.5%, and while GAAP gross margin is slightly lower when including stock-based compensation, effective control of operating expenses will aid in improving financial health.
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- Earnings Release Schedule: NeuroPace will report its financial results for Q4 2025 after market close on March 3, 2026, demonstrating the company's commitment to transparency and aiming to bolster investor confidence.
- Conference Call Timing: Management will host a webcast conference call at 1:30 PM Pacific Time (4:30 PM Eastern Time) to provide detailed insights into the financial performance, aiding investors in understanding the company's operational status.
- Participation Method: Investors can join the call by dialing +1 (800) 715-9871 and referencing Conference ID 8467256, ensuring broad dissemination of information and enhancing investor engagement.
- Webcast Archiving: The webcast will be archived on the company's investor relations website for at least 90 days, reflecting the company's commitment to ongoing communication with investors.
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- Conference Participation: NeuroPace will present at the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026, in San Francisco, showcasing its innovative technologies in epilepsy treatment, which is expected to attract investor interest and enhance the company's visibility.
- Investor Meetings: The management team will host investor meetings during the conference, aiming to establish connections with potential investors, boost market confidence, and drive future financing opportunities.
- Live Webcast: The presentation will be accessible via live webcast, allowing global investors to participate in real-time, enhancing transparency and demonstrating the company's commitment to investor relations.
- Technological Background: NeuroPace's RNS System is the first commercially available brain-responsive platform designed to provide personalized, real-time treatment for drug-resistant epilepsy patients, with the potential to improve patient quality of life, further solidifying the company's position in the medical device industry.
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