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Ceribell, Inc.
(NASDAQ:CBLL)
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Rating:56Neutral
Price Target:
$25.00
▲(5.35% Upside)
Action:Reiterated
Date:08/11/26
The score is held back primarily by persistent unprofitability and substantial cash burn despite strong gross margins and revenue growth. Offsetting factors include a supportive earnings update (raised guidance, high margins, reimbursement and product/regulatory progress, solid liquidity) and generally constructive price positioning above major moving averages, while valuation remains constrained by negative earnings and no dividend.
Positive Factors
Revenue and Account Growth
Strong growth across revenue and hospital accounts indicates increasing adoption in acute-care workflows. Expansion within both new and existing customers can support recurring utilization and consumable revenue, creating a durable foundation for continued commercial scaling over the next several quarters.
Negative Factors
Persistent Losses and Cash Burn
The company continues to consume substantial cash despite strong revenue growth and gross margins. Persistent operating and free-cash-flow losses may require continued use of cash reserves or financing, limiting flexibility and increasing execution pressure until the business reaches breakeven.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Account Growth
Strong growth across revenue and hospital accounts indicates increasing adoption in acute-care workflows. Expansion within both new and existing customers can support recurring utilization and consumable revenue, creating a durable foundation for continued commercial scaling over the next several quarters.
Read all positive factors
Ceribell, Inc. Key Performance Indicators (KPIs)
Any
Revenue by Type
Breaks down sales into hardware, consumables (disposables), service contracts and any recurring software/subscription revenue. For Ceribell, distinguishing one‑time device sales from repeat purchases or subscription fees shows how predictable future cash flow is, where margins tend to be higher, and which parts of the business drive growth. Heavy reliance on one‑time device sales can make results lumpy, while growth in consumables and subscriptions signals stickier customers and better long‑term revenue visibility; reimbursement changes, hospital adoption rates, and supply‑chain constraints are key risks to monitor.
Breaks down sales into hardware, consumables (disposables), service contracts and any recurring software/subscription revenue. For Ceribell, distinguishing one‑time device sales from repeat purchases or subscription fees shows how predictable future cash flow is, where margins tend to be higher, and which parts of the business drive growth. Heavy reliance on one‑time device sales can make results lumpy, while growth in consumables and subscriptions signals stickier customers and better long‑term revenue visibility; reimbursement changes, hospital adoption rates, and supply‑chain constraints are key risks to monitor.
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The Fly
The FlyCeribell, Inc. (CBLL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$932.97M
Dividend YieldN/A
Average Volume (3M)386.37K
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue Growth31.70%
EPS Growth-28.13%
CountryUS
Employees327
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.76
Shares Outstanding38,378,100
10 Day Avg. Volume251,449
30 Day Avg. Volume386,371
Financial Highlights & Ratios
PEG Ratio-0.51
Price to Book (P/B)5.16
Price to Sales (P/S)9.00
P/FCF Ratio-19.28
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$28.50Price Target Upside20.10% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.97
Revenue Forecast (FY)$115.54M
Ceribell, Inc. Business Overview & Revenue Model
Company Description
CeriBell, Inc. specializes in pioneering artificial intelligence (AI)-powered electroencephalography (EEG) solutions designed for the immediate diagnosis and treatment of neurological conditions directly at the patient's bedside. The company's pri...
How the Company Makes Money
Ceribell makes money primarily by selling and/or leasing its EEG system to healthcare providers (e.g., hospitals) and generating recurring revenue from ongoing use of the platform. Key revenue streams include: (1) system revenue from the placement...
Ceribell, Inc. Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call showcased strong top-line growth, high gross margins, meaningful regulatory clearances, expanding product portfolio (neonate/pediatric/delirium), and favorable reimbursement (NTAP), supported by a solid cash position and improved guidance — all material positive developments. Offsetting these positives are widening GAAP losses, materially higher operating expenses (including stock-based comp and litigation costs), continued negative adjusted EBITDA, and timing uncertainty for revenue contributions from new product initiatives. On balance, the company appears to be executing commercial and technical milestones that should drive future growth, while actively reinvesting and accepting near-term profitability pressure.Positive Updates
Strong Revenue Growth
Total revenue of $28.1M in Q2 2026, up 33% year-over-year (from $21.2M) and up 6% sequentially quarter-over-quarter, driven by same-store growth and increased adoption across new and existing accounts.
Negative Updates
Widening GAAP Net Loss
Net loss of $19.3M in Q2 2026 (loss of $0.51/share) versus a net loss of $13.6M (loss of $0.38/share) in Q2 2025, reflecting higher operating expenditures despite revenue growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue of $28.1M in Q2 2026, up 33% year-over-year (from $21.2M) and up 6% sequentially quarter-over-quarter, driven by same-store growth and increased adoption across new and existing accounts.
Read all positive updates
Company Guidance
The company raised 2026 revenue guidance to $114–$117 million (up from $112–$116M), implying 28%–31% growth versus 2025, while Q2 revenue was $28.1M (+33% YoY, +6% sequential) comprised of $21.2M product (+33% YoY) and $6.9M subscription (+30% YoY); active accounts ended Q2 at 712 (+32). Q2 gross margin was 92% (including a $1.6M tariff refund—$1.0M recognized in COGS and $0.6M capitalized) and 89% excluding the refund, and management expects gross margins to remain in the high‑80s for the rest of 2026. Q2 operating expense was $45.9M (+37% YoY) with $6.0M of noncash stock‑based comp and $3.9M of ITC litigation costs; net loss was $19.3M (‑$0.51 per share, weighted average shares ~38M) and adjusted EBITDA loss was $9.8M (versus a $10M adjusted EBITDA loss LY). The balance sheet included $129M cash and marketable securities as of 6/30/26, the company secured a credit facility with $60M committed (+$25M uncommitted) extending repayment into 2031 and expects lower interest expense starting Q4; management noted that neonate/pediatric/delirium revenue is not expected to be material in 2026 but should contribute more meaningfully in 2027 (delirium NTAP = up to $2.17K incremental reimbursement per qualified patient effective 10/1/2026).Ceribell, Inc. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 101.96M | 89.06M | 65.44M | 45.23M | 25.92M |
| Gross Profit | 90.64M | 78.27M | 56.75M | 38.16M | 21.49M |
| EBITDA | -63.06M | -50.18M | -37.32M | -26.51M | -35.06M |
| Net Income | -66.00M | -53.41M | -40.45M | -29.46M | -37.16M |
Balance Sheet | |||||
| Total Assets | 166.35M | 195.80M | 225.41M | 58.92M | 86.46M |
| Cash, Cash Equivalents and Short-Term Investments | 129.26M | 159.26M | 194.37M | 34.49M | 68.23M |
| Total Debt | 21.91M | 22.28M | 21.96M | 14.20M | 18.22M |
| Total Liabilities | 38.03M | 40.47M | 34.25M | 171.17M | 172.86M |
| Stockholders Equity | 128.31M | 155.34M | 191.16M | -112.25M | -86.40M |
Cash Flow | |||||
| Free Cash Flow | -56.33M | -41.58M | -36.38M | -30.14M | -32.52M |
| Operating Cash Flow | -54.03M | -40.81M | -35.04M | -29.16M | -32.00M |
| Investing Cash Flow | 41.00M | -118.14M | -1.60M | -1.76M | -1.40M |
| Financing Cash Flow | 5.55M | 5.05M | 196.52M | -2.82M | 49.80M |
Ceribell, Inc. Technical Analysis
Positive
23.73
Price Trends
20.85
Positive
19.92
Positive
19.87
Positive
Market Momentum
1.11
Positive
65.54
Neutral
71.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBLL, the sentiment is Positive. The current price of 23.73 is below the 20-day moving average (MA) of 24.07, above the 50-day MA of 20.85, and above the 200-day MA of 19.87, indicating a bullish trend. The MACD of 1.11 indicates Positive momentum. The RSI at 65.54 is Neutral, neither overbought nor oversold. The STOCH value of 71.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CBLL.
Ceribell, Inc. Risk Analysis
Ceribell, Inc. disclosed 76 risk factors in its most recent earnings report. Ceribell, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ceribell, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $557.96M | 1,452.73 | 0.46% | ― | 35.85% | -76.27% | |
62 Neutral | $2.04B | -25.78 | -38.36% | ― | 28.14% | -5.15% | |
60 Neutral | $779.32M | 35.24 | 4.60% | ― | 5.31% | ― | |
56 Neutral | $932.97M | -13.87 | -44.85% | ― | 31.70% | -28.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | $600.52M | -7.59 | -23.53% | ― | 5.44% | -1130.00% |
* General Sector Average
CBLL
Ceribell, Inc.
24.41
12.85
111.16%
DCTH
Delcath Systems
15.98
4.85
43.58%
VREX
Varex Imaging
18.50
7.00
60.87%
BFLY
Butterfly Network
7.46
5.91
381.29%
CTKB
Cytek Biosciences
4.73
0.60
14.53%
Ceribell, Inc. Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
Ceribell Expands Board, Adds Two New Directors
Neutral
Jul 30, 2026
On July 28, 2026, Ceribell, Inc.’s board executed a rebalancing of director classes by moving William W. Burke from Class I to Class II and Joseph M. Taylor from Class I to Class III, with their service otherwise deemed uninterrupted, includ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.