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NeurAxis, Inc. (NRXS) AI Stock Analysis
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NeurAxis, Inc.
(NYSE MKT:NRXS)
The score is held back primarily by weak financial performance—large ongoing losses and persistent cash burn—despite strong revenue growth and high gross margins. Technicals are supportive with the stock trading above key moving averages and positive momentum indicators. The earnings call was constructive on growth, payer progress, and scaling plans, but risks remain around coverage expansion and rising operating expenses. Valuation is constrained by negative earnings and no dividend support, while corporate events add modest dilution/compensation overhang.
NeurAxis, Inc. (NRXS) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $89.54M
- Dividend Yield
- ―
- Average Volume (3M)
- 129.26K
- Price to Earnings (P/E)
- -9.3
- Beta (1Y)
- 0.91
- Revenue Growth
- 65.22%
- EPS Growth
- 24.92%
- Country
- US
- Employees
- 24
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Biotechnology
NeurAxis, Inc. Business Overview & Revenue Model
Company Description
NeurAxis, Inc. (NRXS) is an American company specializing in neuromodulation therapy devices. Its primary offering is IB-Stim, a percutaneous electrical nerve field stimulation system engineered to alleviate functional abdominal pain associated with...
How the Company Makes Money
NeurAxis primarily makes money by selling its neuromodulation therapy (IB-Stim) for patient treatment episodes through U.S. healthcare channels. Revenue is generated when healthcare providers prescribe and administer the therapy and the company is pa...
NeurAxis, Inc. Earnings Call Summary
The call conveyed strong commercial momentum and measurable operational improvements: double-digit, high-percentage revenue growth (116% YoY Q2), rising ASP and unit deliveries, gross margin expansion, improved KPIs, tangible payer engagement and concrete commercialization hires and VA opportunity. At the same time, meaningful challenges remain: limited payer coverage and state Medicaid implementation gaps limit penetration, operational capacity constraints create patient wait times, and the company is still operating at a loss with a going-concern note until cash flow breakeven is achieved. Management presented a clear plan (targeted market execution, additional payer outreach, new hires and VA expansion) and expects short-term increased OpEx to accelerate revenue. Overall the positives — strong growth, improving margins and concrete payer/VA progress — appear to outweigh the risks and required investments, though execution on payer wins and scaling clinic capacity remain critical.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management guided that it will aggressively scale commercial activity in markets with existing coverage while continuing payer outreach, expecting additional coverage in H2 2026/early 2027 and a goal of exceeding 200 million covered lives by end of 2027 (today >100M); near‑term operational targets include training the first 10 VA 1099 reps (selling by Sept. 15) and getting a year‑end read on VA revenue. Key metrics disclosed: Q2 revenue $1.928M (+116% YoY) and YTD revenue ~$3.5–3.6M (+98% YoY); IB‑Stim ASP $992 in Q2 and $1,003 YTD (up ~28–30% YoY); unit deliveries +60% (3 months) and +48% (6 months); YTD prior‑auth approval 31% vs 12% in 2025; ordering accounts 88 YTD (+16%) with revenue per ordering account $40K (+68%); gross margin 85.9% in Q2 (+230 bps) and 86.1% YTD (+210 bps); Q2 operating expenses $3.8M (+53%) with operating loss $2.1M (net loss $2.1M) and EPS loss $0.19 (improved from $0.22); cash on hand $8.3M, free cash outflow $1.0M (Q2) and $2.3M (6M), and average quarterly burn ~$1.1M YTD (vs ~$1.5M in 2025). Management reiterated an objective of reaching cash‑flow breakeven over time but advised H2 burn may rise as they invest to capture coverage‑driven growth.
NeurAxis, Inc. Financial Statement Overview
Summary
Revenue is accelerating and gross margins are very high (~84–89%), but profitability and cash generation remain the core weakness: TTM net margin is deeply negative (-170%) and TTM operating/free cash flow are both about -$5.6M. Balance sheet leverage is modest with low debt-to-equity and improved equity, but ongoing losses and cash burn keep overall financial strength below average.
Income Statement
34NegativeBalance Sheet
55NeutralCash Flow
28Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.32M | 3.57M | 2.69M | 2.46M | 2.68M | 2.72M |
| Gross Profit | 4.55M | 3.01M | 2.32M | 2.16M | 2.39M | 2.25M |
| EBITDA | -7.50M | -7.67M | -7.90M | -9.23M | -4.33M | -2.95M |
| Net Income | -7.87M | -7.80M | -8.24M | -14.63M | -4.78M | -3.03M |
Balance Sheet | ||||||
| Total Assets | 10.00M | 6.40M | 4.76M | 509.50K | 1.48M | 760.48K |
| Cash, Cash Equivalents and Short-Term Investments | 8.32M | 4.97M | 3.70M | 78.56K | 253.70K | 320.86K |
| Total Debt | 279.39K | 416.61K | 473.40K | 224.26K | 598.82K | 439.27K |
| Total Liabilities | 3.26M | 3.00M | 2.69M | 1.91M | 7.05M | 1.59M |
| Stockholders Equity | 6.74M | 3.40M | 2.07M | -1.40M | -5.57M | -825.66K |
Cash Flow | ||||||
| Free Cash Flow | -5.63M | -6.46M | -6.13M | -6.77M | -2.36M | -2.24M |
| Operating Cash Flow | -5.62M | -6.43M | -6.10M | -6.69M | -2.30M | -2.23M |
| Investing Cash Flow | -112.17K | -131.15K | -27.78K | -71.78K | -61.20K | -1,390 |
| Financing Cash Flow | 8.07M | 7.83M | 9.74M | 6.59M | 2.29M | 661.10K |
NeurAxis, Inc. Technical Analysis
Price Trends
Market Momentum
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 7.13 is below the 20-day moving average (MA) of 7.25, above the 50-day MA of 6.83, and above the 200-day MA of 6.67, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 47.99 is Neutral, neither overbought nor oversold. The STOCH value of 33.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NRXS.
NeurAxis, Inc. Risk Analysis
NeurAxis, Inc. disclosed 54 risk factors in its most recent earnings report. NeurAxis, Inc. reported the most risks in the "Legal & Regulatory" category.
Latest Risks Added
0 New RisksNeurAxis, Inc. Peers Comparison
Overall Rating
- NRXS57Neutral
IGC42Neutral
NERV41.8Neutral
PASG41Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| NRXS | 57Neutral | $89.54M | -9.26 | -173.28% | ― | 65.22% | 24.92% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| IGC | 42Neutral | $21.49M | -2.25 | -113.58% | ― | ― | ― |
| NERV | 42Neutral | $110.77M | -0.08 | 250.02% | ― | ― | -2012.66% |
| PASG | 41Neutral | $11.10M | -0.30 | -218.59% | ― | ― | 38.14% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| NRXS | NeurAxis, Inc. | 7.13 | 4.45 | 166.04% | |
| IGC | Igc Pharma, Inc. | 0.18 | -0.22 | -53.98% | |
| NERV | Minerva Neurosciences | 2.32 | -1.50 | -39.27% | |
| PASG | Passage Bio, Inc. | 3.45 | -3.87 | -52.87% | |
| LIMN | Liminatus Pharma, Inc. | 2.82 | -63.18 | -95.73% |
NeurAxis, Inc. Corporate Events
NeurAxis Declares Q3 Stock Dividend on Preferred Shares
PositiveOn October 14, 2026, NeurAxis, Inc.‘s board authorized and the company declared a stock dividend on its Series B Preferred Stock for the third quarter of 2026, to be paid in shares of common stock. The dividend amount for each holder will be ba...
NeurAxis Enhances Executive and Director Equity Compensation
PositiveOn June 10, 2026, NeurAxis stockholders approved a stock option exchange under which 1,319,394 outstanding options from a prior plan were cancelled and replaced one-for-one with restricted stock units under the 2022 Omnibus Securities and Incentive P...
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 16, 2026