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CapsoVision, Inc.
(NASDAQ:CV)
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Rating:49Neutral
Price Target:
$6.00
▲(0.17% Upside)
Action:Reiterated
Date:09/28/26
The score is held down primarily by weak financial quality—very large net losses and persistent cash burn despite strong revenue growth and solid gross margins. Technicals are mildly constructive (near-term trend improving), but valuation is constrained by losses (negative P/E). Earnings-call takeaways are mixed, with product/regulatory milestones and expected H2 strength balanced by margin pressure, higher opex, and regulatory timing risk.
Positive Factors
Growing Capsule Utilization
Rising capsule shipments and cumulative patient use indicate expanding utilization of CapsoVision’s diagnostic platform. A growing installed user base can support recurring procedure-driven capsule revenue, strengthen clinical familiarity, and improve the company’s ability to expand within hospital and GI-practice networks.
Negative Factors
Persistent Cash Burn and Deep Losses
Material recurring cash burn and very large net losses weaken financial self-sufficiency despite strong revenue growth. Unless operating performance improves substantially, the company may need continued external capital to fund commercial operations and development, reducing flexibility and increasing financing risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Growing Capsule Utilization
Rising capsule shipments and cumulative patient use indicate expanding utilization of CapsoVision’s diagnostic platform. A growing installed user base can support recurring procedure-driven capsule revenue, strengthen clinical familiarity, and improve the company’s ability to expand within hospital and GI-practice networks.
Read all positive factors
CapsoVision, Inc. (CV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$328.31M
Dividend YieldN/A
Average Volume (3M)220.97K
Price to Earnings (P/E)―
Beta (1Y)-1.44
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees99
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.63
Shares Outstanding53,210,358
10 Day Avg. Volume381,434
30 Day Avg. Volume220,973
Financial Highlights & Ratios
PEG Ratio-0.77
Price to Book (P/B)37.78
Price to Sales (P/S)36.96
P/FCF Ratio-21.83
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue26.65
Enterprise Value/Gross Profit52.37
Enterprise Value/Ebitda-12.50
Forecast
1Y Price Target
$9.00Price Target Upside50.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.56
Revenue Forecast (FY)$14.72M
CapsoVision, Inc. Business Overview & Revenue Model
Company Description
CapsoVision, Inc., a medical technology company, manufactures and markets endoscopic video imaging devices focused on internal imaging of the gastrointestinal system. The company offers CapsoCam Plus, a capsule endoscopy system for visualization o...
How the Company Makes Money
CapsoVision makes money primarily by selling its capsule endoscopy products and related accessories/services to healthcare providers (e.g., hospitals, clinics, and GI practices). Key revenue streams generally include: (1) sales of disposable imagi...
CapsoVision, Inc. Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Neutral
The call presented a mix of constructive commercial and product-development progress — including double-digit unit and patient-growth, the international launch of AI Highlights, meaningful pipeline milestones, and initiatives to secure financing — alongside notable near-term challenges such as margin compression, a decline in average selling price, a substantial increase in operating expenses, competitive and tariff pressures, and regulatory/timing uncertainty for U.S. clearance and product submissions.Positive Updates
Revenue Growth
Second quarter revenue of $3.6 million, up approximately 10% year-over-year from $3.3 million.
Negative Updates
Gross Margin Compression
Gross margin declined to 51% in Q2 from 55% in Q2 2025 (down 4 percentage points), primarily due to pricing pressure and higher customs/tariff expenses.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Second quarter revenue of $3.6 million, up approximately 10% year-over-year from $3.3 million.
Read all positive updates
Company Guidance
Management guided that AI Highlights is expected to obtain FDA 510(k) clearance by the end of Q3 2026 with U.S. commercial launch shortly thereafter, that revenue in H2 2026 should be higher than H1 (with Q4 typically the strongest quarter), and that the second‑generation CapsoCam Colon + AI module is planned for FDA submission in Q4 2026 (shifted one quarter); CapsoCam UGI enrollment continues. Key metrics called out on the call: Q2 revenue $3.6M (+10% YoY from $3.3M), capsules shipped 8,845 (+13% YoY from 7,856), >176,000 patients imaged to date vs >143,000 at end Q2 2025 (+23%), Q2 gross profit $1.9M (gross margin 51% vs 55% prior year), operating expenses $9.5M (vs $6.5M), cash & equivalents $9.1M, ~$14M gross raised in Q1, an ATM facility up to $100M, ~3% decline in average selling price, 85 issued U.S. patents, and a U.S. commercial team of 26 reps supported by 7 regional sales managers/trainers.CapsoVision, Inc. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 13.89M | 13.55M | 11.76M | 9.75M |
| Gross Profit | 7.07M | 7.17M | 6.38M | 5.49M |
| EBITDA | -29.61M | -24.95M | -19.40M | -10.96M |
| Net Income | -29.83M | -25.32M | -19.90M | -11.30M |
Balance Sheet | ||||
| Total Assets | 18.57M | 18.16M | 16.80M | 21.53M |
| Cash, Cash Equivalents and Short-Term Investments | 9.08M | 10.11M | 9.32M | 14.56M |
| Total Debt | 687.00K | 887.00K | 1.24M | 1.51M |
| Total Liabilities | 5.40M | 4.90M | 146.31M | 131.37M |
| Stockholders Equity | 13.17M | 13.26M | -129.51M | -109.84M |
Cash Flow | ||||
| Free Cash Flow | -27.89M | -22.95M | -20.24M | -11.56M |
| Operating Cash Flow | -27.82M | -22.86M | -20.09M | -10.80M |
| Investing Cash Flow | -68.00K | -90.00K | -153.00K | -754.00K |
| Financing Cash Flow | 35.91M | 23.60M | 15.07M | 20.53M |
CapsoVision, Inc. Technical Analysis
Negative
5.99
Price Trends
6.39
Negative
6.59
Negative
6.68
Negative
Market Momentum
0.03
Positive
46.51
Neutral
39.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CV, the sentiment is Negative. The current price of 5.99 is below the 20-day moving average (MA) of 6.38, below the 50-day MA of 6.39, and below the 200-day MA of 6.68, indicating a bearish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 46.51 is Neutral, neither overbought nor oversold. The STOCH value of 39.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CV.
CapsoVision, Inc. Risk Analysis
CapsoVision, Inc. disclosed 69 risk factors in its most recent earnings report. CapsoVision, 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
CapsoVision, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $47.30B | 32.96 | 20.47% | 0.49% | 8.60% | 19.07% | |
66 Neutral | $3.77B | 39.76 | 3.08% | ― | 11.89% | 85.76% | |
62 Neutral | $635.44M | -17.17 | -21.01% | ― | 9.46% | -6.34% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $328.31M | -9.79 | -177.85% | ― | ― | ― | |
41 Neutral | $1.02M | >-0.01 | 148.25% | ― | ― | 72.63% |
* Healthcare Sector Average
CV
CapsoVision, Inc.
6.17
1.59
34.72%
A
Agilent
167.78
27.02
19.19%
ANGO
AngioDynamics
15.11
3.85
34.19%
NVST
Envista Holdings
23.46
2.83
13.72%
PFSA
Profusa
1.69
-2,636.81
-99.94%
CapsoVision, Inc. Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
CapsoVision Wins FDA Clearance for AI Endoscopy Tool
Positive
Sep 28, 2026
CapsoVision, Inc., a NASDAQ-listed medical technology company specializing in AI-enabled capsule endoscopy for gastrointestinal disease detection, has built its business around the CapsoCam Plus capsule, supported by its CapsoView review software ...
Business Operations and StrategyPrivate Placements and Financing
CapsoVision Announces $18 Million Direct Stock Offering
Positive
Sep 18, 2026
On September 17, 2026, CapsoVision, Inc. entered into a securities purchase agreement for a registered direct offering of 3,163,444 shares of common stock at $5.69 per share, a roughly 5% discount to the prior Nasdaq closing price. The offer, cond...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
CapsoVision Launches $100 Million At-The-Market Offering
Positive
Aug 18, 2026
On August 13, 2026, CapsoVision, Inc. entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald Co. to establish an at-the-market program for issuing up to $100 million of common stock, enabling the company to raise capital...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
CapsoVision Launches $100 Million At-the-Market Equity Program
Positive
Aug 13, 2026
On August 13, 2026, CapsoVision, Inc. entered into a controlled equity offering sales agreement with Cantor Fitzgerald for an at-the-market program of up to $100 million in common stock, providing flexible access to capital as needed, with no obli...
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.