NeurAxis, Inc. (NRXS) AI Stock Analysis

• Market Cap: $29.68M
• Dividend Yield: N/A
• Average Volume (3M): 50.56K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.95
• Revenue Growth: 41.93%
• EPS Growth: 58.69%
• Country: US
• Employees: 21
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.22
• Shares Outstanding: 9,872,776
• 10 Day Avg. Volume: 64,428
• 30 Day Avg. Volume: 50,559
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.51
• Enterprise Value/Revenue: 4.68
• Enterprise Value/Gross Profit: 5.51
• Enterprise Value/Ebitda: -2.13
• 1Y Price Target: $2.50
• Price Target Upside: -20.13% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 42 Neutral
• Price Target: $2.50 ▼(-20.13% Downside)

NeurAxis faces significant financial challenges, with a weak balance sheet and negative cash flows weighing heavily on its score. Technical indicators suggest a neutral trend, while valuation metrics highlight overvaluation concerns. Despite positive earnings call highlights, the financial risks are substantial.

NeurAxis, Inc. Business Overview & Revenue Model

Company Description

NeurAxis, Inc. operates as a neuromodulation therapy device company in the United States. It offers IB-Stim, a percutaneous electrical nerve field stimulation system intended to be used in patients 11-18 years of age with functional abdominal pain associated with irritable bowel syndrome healthcare companies primarily hospitals and clinics. The company was formerly known as Innovative Health Solutions, Inc. and changed its name to NeurAxis, Inc. in March 2022. The company was founded in 2011 and is headquartered in Carmel, Indiana.

How the Company Makes Money

NeurAxis generates revenue primarily through the sale of its medical devices and therapeutic solutions, which are often covered by insurance providers. Key revenue streams include direct sales to hospitals and clinics, partnerships with healthcare systems, and licensing agreements for its proprietary technologies. Additionally, the company may receive funding through governmental grants and research subsidies aimed at advancing its product development. Strategic collaborations with pharmaceutical companies and research institutions also contribute to its earnings, as they often involve shared development costs and royalties on future sales.

NeurAxis, Inc. Financial Statement Overview

Summary

NeurAxis shows revenue growth, but faces significant financial challenges. The balance sheet is weak with negative equity, and cash flow management is under pressure with negative free cash flows. These issues pose substantial risks.

Income Statement

NeurAxis has experienced revenue growth from 2023 to 2024, but its profitability remains a concern. The gross profit margin has stayed relatively stable, but net income is deeply negative, indicating significant losses. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies. While the revenue growth is a positive sign, the company struggles with high operating losses.

Balance Sheet

The balance sheet shows critical weaknesses, with negative stockholders' equity indicating more liabilities than assets. The debt-to-equity ratio is not applicable due to negative equity, and the company is highly leveraged. The equity ratio is also concerning, suggesting financial instability. Overall, the balance sheet reflects significant financial risk.

Cash Flow

Cash flow analysis reveals that NeurAxis is burning cash, with negative operating and free cash flows. The company has improved its financing cash flow, which may help sustain operations temporarily. However, the free cash flow to net income ratio is unfavorable, indicating poor cash management relative to earnings. While there's some improvement in cash inflows, the cash flow situation remains a challenge.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.22M	2.69M	2.46M	2.68M	2.72M	1.93M
Gross Profit	2.73M	2.32M	2.16M	2.39M	2.25M	1.45M
EBITDA	-7.07M	-7.90M	-9.23M	-4.33M	-2.95M	-3.61M
Net Income	-7.17M	-8.24M	-14.63M	-4.78M	-3.03M	-3.73M
Balance Sheet
Total Assets	7.09M	4.76M	509.50K	1.48M	760.48K	2.79M
Cash, Cash Equivalents and Short-Term Investments	5.99M	3.70M	78.56K	253.70K	320.86K	1.90M
Total Debt	190.60K	473.40K	224.26K	598.82K	439.27K	311.49K
Total Liabilities	2.83M	2.69M	1.91M	7.05M	1.59M	1.15M
Stockholders Equity	4.25M	2.07M	-1.40M	-5.57M	-825.66K	1.64M
Cash Flow
Free Cash Flow	-6.25M	-6.13M	-6.77M	-2.36M	-2.24M	-4.17M
Operating Cash Flow	-6.22M	-6.10M	-6.69M	-2.30M	-2.23M	-4.14M
Investing Cash Flow	-29.66K	-27.78K	-71.78K	-61.20K	-1.39K	-27.72K
Financing Cash Flow	10.47M	9.74M	6.59M	2.29M	661.10K	6.05M

NeurAxis, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.13
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRXS, the sentiment is Positive. The current price of 3.13 is above the 20-day moving average (MA) of 2.80, above the 50-day MA of 2.60, and above the 200-day MA of 2.45, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 66.74 is Neutral, neither overbought nor oversold. The STOCH value of 73.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NRXS.

NeurAxis, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
GRI	45 Neutral	$4.96M	―	-248.95%	―	―	98.45%
NRXS	42 Neutral	$29.68M	―	-2480.49%	―	41.93%	58.69%
SLRX	30 Underperform	$4.24M	―	-660.37%	―	―	74.27%
PCSA	29 Underperform	$18.13M	―	-212.38%	―	―	57.99%
PTIX	27 Underperform	$6.43M	―	-512.79%	―	―	38.86%
QNRX	25 Underperform	$4.59M	―	-244.31%	―	―	-146.64%

NeurAxis, Inc. Corporate Events

NeurAxis Enters Market Offering Agreement with Craig-Hallum

On August 29, 2025, Neuraxis, Inc. entered into an At The Market Offering Agreement with Craig-Hallum Capital Group LLC, allowing the company to sell shares of its common stock worth up to $3.3 million. This strategic move aims to provide Neuraxis with financial flexibility and potentially strengthen its market position, as the sales agent will sell the stock based on the company’s instructions, with a commission of 3% on the gross sales proceeds.

NeurAxis, Inc. Ends Agreement with Masimo Corporation

On July 1, 2025, NeurAxis, Inc. terminated its License and Collaboration Agreement with Masimo Corporation, which had been in place since April 9, 2020, for the NSS-2 Bridge device. As part of the termination, NeurAxis agreed to pay Masimo $200,000, resulting in the cessation of licensing payments and revenue from the device. Additionally, NeurAxis adopted a new Employee Stock Purchase Plan on the same date, allowing employees to purchase company stock at a discount, with stockholder approval required within 12 months.