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Ceribell, Inc. (CBLL)
NASDAQ:CBLL
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Ceribell, Inc. (CBLL) AI Stock Analysis

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CBLL

Ceribell, Inc.

(NASDAQ:CBLL)

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Neutral 54 (OpenAI - 4o)
Rating:54Neutral
Price Target:
$12.50
▲(9.65% Upside)
Ceribell, Inc. shows promising revenue growth and a positive outlook from recent earnings calls, but faces significant challenges with profitability, cash flow management, and valuation. The technical indicators suggest mixed market sentiment, with some bullish momentum but overall bearish trends.
Positive Factors
Revenue Growth
Ceribell's strong revenue growth indicates robust demand for its products, positioning the company well for future expansion and market penetration.
High Gross Margin
Sustained high gross margins reflect efficient production cost management, enhancing Ceribell's ability to reinvest in growth and innovation.
Market Expansion
The increase in active accounts demonstrates successful market expansion efforts, broadening Ceribell's customer base and revenue potential.
Negative Factors
Profitability Challenges
Ongoing losses highlight profitability challenges, which may impact Ceribell's ability to sustain operations without external funding.
Rising Operating Expenses
Significant rise in operating expenses due to expansion efforts could pressure margins and delay the path to profitability.
Cash Flow Management
Negative free cash flow, despite improvements, indicates ongoing cash management issues, potentially limiting Ceribell's financial flexibility.

Ceribell, Inc. (CBLL) vs. SPDR S&P 500 ETF (SPY)

Ceribell, Inc. Business Overview & Revenue Model

Company DescriptionCeriBell, Inc. develops AI based point-of-care electroencephalography (EEG) technology for the detection and treatment of neurological conditions. The company develops Ceribell System, a novel, point-of-care EEG platform to address the unmet needs of patients in the acute care setting. It also offers EEG disposable headbands; and pocket-sized battery-operated recorders. The company was formerly known as Brain Stethoscope, Inc. and changed its name to CeriBell, Inc. in August 2015. The company was incorporated in 2014 and is based in Sunnyvale, California.
How the Company Makes MoneyCeribell generates revenue primarily through the sale of its EEG monitoring devices and associated services. The company has established partnerships with hospitals and healthcare systems that utilize its technology in their neurology departments. Additionally, Ceribell may offer subscription-based services for data management and analysis, enhancing patient monitoring capabilities over time. Revenue is also driven by ongoing support, maintenance services, and potential future collaborations with pharmaceutical companies focused on epilepsy treatments. Furthermore, reimbursement from insurance providers for the use of their devices plays a significant role in the company's financial model.

Ceribell, Inc. Earnings Call Summary

Earnings Call Date:Aug 05, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 18, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth and positive feedback for new product initiatives, alongside increased costs related to expansion and legal challenges. Despite the increased net loss, the raised revenue guidance and strong market reception for new indications suggest a positive outlook.
Q2-2025 Updates
Positive Updates
Strong Revenue Growth
Total revenue for Q2 2025 was $21.2 million, reflecting a 38% growth over the same period last year.
Increased Active Accounts
Ceribell reported 584 active accounts as of June 30, 2025, an increase of 26 active accounts during the second quarter.
Full Year Revenue Guidance Raised
Full year 2025 revenue guidance increased to $85 million to $88 million, up from the prior guidance of $83 million to $87 million.
High Gross Margin
Gross margin for Q2 2025 was 88%, compared to 86% in the prior year period.
Positive Reception for New Delirium Indication
The Ceribell product vision and prototypes for delirium received positive feedback at the American Delirium Society Conference.
Negative Updates
Increased Operating Expenses
Total operating expenses for Q2 2025 were $33.6 million, an increase of 56% compared to Q2 2024, driven by investments in commercial organization and headcount.
Continued Legal Expenses
General and administrative expenses increased due to preparation of ITC and District Court IP complaints filed against Natus Medical Incorporated.
Net Loss
Net loss for Q2 2025 was $13.6 million, or a loss of $0.38 per share, compared to a loss of $8.9 million or $1.61 per share in Q2 2024.
Company Guidance
In the Ceribell Q2 2025 earnings call, the company provided an optimistic outlook, raising its full-year 2025 revenue guidance to a range of $85 million to $88 million, representing a 30% to 34% annual growth over 2024. The total revenue for the second quarter reached $21.2 million, reflecting a 38% increase compared to the same period last year. Ceribell reported 584 active accounts by the end of June 2025, with an increase of 26 new accounts during the quarter. Gross margin for the quarter was 88%, up from 86% the previous year. The company continues to invest in commercial infrastructure, aiming to expand coverage to 55 territories and anticipates significant growth in 2026 due to recent expansions in their sales force. Additionally, Ceribell is exploring further opportunities in the neonatal and delirium markets, with ongoing pilots and strategic initiatives, aiming to broaden their market presence and enhance their product offerings.

Ceribell, Inc. Financial Statement Overview

Summary
Ceribell, Inc. demonstrates strong revenue growth and improved equity position, but struggles with profitability and cash flow management. The company shows high gross margins but faces operational inefficiencies and relies on external financing.
Income Statement
45
Neutral
Ceribell, Inc. shows solid revenue growth of 44.7% from 2023 to 2024, highlighting strong demand for their products. However, the company is operating at a loss with a negative net profit margin, and EBIT and EBITDA margins indicate inefficiencies. Gross profit margins are strong at approximately 86.7% for 2024, signifying good production cost management but are overshadowed by the high operating expenses.
Balance Sheet
60
Neutral
The company's equity has significantly improved from negative to a strong positive position in 2024, indicating strong financial backing or recent capital infusion. The debt-to-equity ratio is low due to high equity, showcasing low leverage risk. However, the equity ratio is high at 84.8%, reflecting a stable asset base primarily funded by equity.
Cash Flow
50
Neutral
Ceribell's free cash flow is negative but has shown improvement from 2023. The high operating cash outflows are concerning, relative to the negative net income, indicating cash management issues. A significant financing cash flow in 2024 suggests reliance on external funding to cover operational deficits.
BreakdownTTMDec 2024Dec 2023Dec 2022
Income Statement
Total Revenue77.42M65.44M45.23M25.92M
Gross Profit67.94M56.75M38.16M21.49M
EBITDA-46.17M-37.71M-26.51M-35.06M
Net Income-49.41M-40.45M-29.46M-37.16M
Balance Sheet
Total Assets207.69M225.41M58.92M86.46M
Cash, Cash Equivalents and Short-Term Investments177.43M194.37M34.49M68.23M
Total Debt21.55M21.96M14.20M18.22M
Total Liabilities35.53M34.25M171.17M172.86M
Stockholders Equity172.16M191.16M-112.25M-86.40M
Cash Flow
Free Cash Flow-38.60M-36.38M-30.14M-32.52M
Operating Cash Flow-37.45M-35.04M-29.16M-32.00M
Investing Cash Flow-137.61M-1.60M-1.76M-1.40M
Financing Cash Flow190.85M196.52M-2.82M49.80M

Ceribell, Inc. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price11.40
Price Trends
50DMA
12.09
Negative
100DMA
13.87
Negative
200DMA
16.69
Negative
Market Momentum
MACD
-0.05
Positive
RSI
39.21
Neutral
STOCH
3.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBLL, the sentiment is Negative. The current price of 11.4 is below the 20-day moving average (MA) of 12.49, below the 50-day MA of 12.09, and below the 200-day MA of 16.69, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 39.21 is Neutral, neither overbought nor oversold. The STOCH value of 3.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CBLL.

Ceribell, Inc. Risk Analysis

Ceribell, Inc. disclosed 80 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

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
$343.87M216.04251.26%
$677.18M-29.42%16.04%28.91%
$417.97M
$485.13M-3.61-25.57%-1.36%-479.49%
$7.86B-0.30-43.30%2.27%22.53%-2.21%
$496.17M-1.67%-0.85%61.31%
$392.26M-15.36%-0.02%-1196.44%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
CBLL
Ceribell, Inc.
11.40
-14.84
-56.55%
DCTH
Delcath Systems
9.83
-0.94
-8.73%
SRDX
SurModics
27.44
-10.13
-26.96%
VREX
Varex Imaging
11.69
-1.56
-11.77%
BFLY
Butterfly Network
2.69
0.65
31.86%
CTKB
Cytek Biosciences
3.90
-1.30
-25.00%

Ceribell, Inc. Corporate Events

Ceribell’s Delirium Study: A New Frontier in EEG Technology
Oct 27, 2025

The Ceribell Delirium Data Collection Study aims to enhance the understanding and assessment of delirium subtypes by collecting clinical and rapid response EEG (rrEEG) data. This observational study, officially titled the ‘Ceribell Delirium Data Collection Study,’ is significant for its potential to develop software algorithms that could improve delirium diagnosis and treatment in clinical settings.

Business Operations and StrategyProduct-Related Announcements
Ceribell Expands Supply Chain with New Amendment
Positive
Sep 25, 2025

Ceribell, Inc. has been working with Shenzhen Everwin Precision Technology Co., Ltd. under a Corporate Supply Agreement initially established in January 2022. This agreement involves the supply of small and large headbands and grants Ceribell broad license rights to necessary product materials. The agreement has undergone several amendments, with the latest Amendment No. 3, dated September 22, 2025, designating Everwin Vietnam as an agent and providing for deliveries from Vietnam. These amendments extend the agreement’s term and expand the company’s operational capabilities, potentially enhancing its market positioning by diversifying its supply chain and production locations.

The most recent analyst rating on (CBLL) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on Ceribell, Inc. stock, see the CBLL Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Ceribell Appoints Erica Rogers to Board of Directors
Positive
Sep 22, 2025

On September 17, 2025, Ceribell, Inc. appointed Erica Rogers to its Board of Directors, highlighting her extensive experience in leading high-growth medical device companies. Rogers’ appointment is seen as a strategic move to support Ceribell’s mission to expand nationwide access to its point-of-care EEG system, which has already improved care for critically ill patients in over 550 hospitals. Her leadership is expected to be instrumental in establishing the Ceribell System as the standard of care in acute settings.

The most recent analyst rating on (CBLL) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on Ceribell, Inc. stock, see the CBLL Stock Forecast page.

Ceribell, Inc. Faces Financial Uncertainty Amid Trade Policy Shifts and Tariff Challenges
Aug 7, 2025

Ceribell, Inc. faces significant business risks due to potential changes in trade policies and regulations in the United States and other countries. The renegotiation or termination of trade agreements, along with the imposition of tariffs, particularly between the U.S. and China, could disrupt their supply chain and increase production costs. Such changes may adversely impact Ceribell’s product sales, gross margins, and customer demand, while also affecting long-term strategies and financial stability. The company’s efforts to mitigate these risks may not be effective, potentially leading to increased capital and operating costs.

Ceribell, Inc. Reports Strong Q2 Growth Amid Challenges
Aug 7, 2025

The recent earnings call from Ceribell, Inc. painted a largely positive picture for the company’s future, underscored by robust revenue growth and an optimistic outlook. Despite facing challenges such as increased operating expenses and legal costs, the overall sentiment was upbeat, with the positives significantly outweighing the negatives.

Ceribell, Inc. Reports Strong Q2 2025 Revenue Growth
Aug 6, 2025

Ceribell, Inc. is a medical technology company specializing in innovative solutions for diagnosing and managing serious neurological conditions, with its flagship product being the Ceribell System, a point-of-care EEG platform. In its second quarter of 2025, Ceribell reported a significant revenue increase of 38% compared to the previous year, reaching $21.2 million. The company also achieved a gross margin of 88% and expanded its active accounts to 584, reflecting strong commercial performance and adoption of its technology. Key financial metrics reveal a rise in product and subscription revenues, with product revenue at $15.9 million and subscription revenue at $5.3 million, both showing substantial year-over-year growth. However, operating expenses increased by 56% due to investments in commercial expansion and public company operations, resulting in a net loss of $13.6 million. Looking ahead, Ceribell has raised its full-year revenue guidance, anticipating growth between 30% and 34%, as it continues to focus on expanding its market presence and advancing its product pipeline.

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.Date of analysis: Oct 30, 2025