NeuroPace, Inc. (NPCE) Income Statement
NPCE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNPCE revenue and net income
Where NPCE's revenue goes
2025Each bar shows an amount and its share of revenue. NPCE kept −21.5% of revenue as net income.
NPCE profit margins
NPCE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +25.1% | +30.0% | +19.4% | — |
| Gross profit | +30.7% | +33.4% | +20.6% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NPCE quarterly EPS vs estimates
NeuroPace beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 3, 2026 (estimate $-0.14).
NPCE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $100.0M | $79.9M | $65.4M | $45.5M | $45.2M | $41.1M | $37.0M |
| Cost of revenue | $22.8M | $20.8M | $17.3M | $13.0M | $11.7M | $10.9M | $10.5M |
| Gross profit | $77.2M | $59.1M | $48.1M | $32.5M | $33.4M | $30.3M | $26.5M |
| Research & development | $27.9M | $23.7M | $20.8M | $21.9M | $18.2M | $15.7M | $18.3M |
| Sales, general & admin | $65.7M | $57.1M | $54.5M | $51.3M | $39.0M | $27.6M | $30.2M |
| Total operating expenses | $93.6M | $80.8M | $75.3M | $73.3M | $57.2M | $43.3M | $48.5M |
| Operating income | −$16.3M | −$21.7M | −$27.2M | −$40.8M | −$23.7M | −$13.1M | −$22.0M |
| Interest income | $2.8M | $3.0M | $3.0M | $1.6M | $448,000 | $41,000 | $261,000 |
| Interest expense | $7.5M | $8.8M | $8.5M | $7.5M | $7.4M | $11.5M | $9.5M |
| Income before taxes | −$21.5M | −$27.1M | −$33.0M | −$47.1M | −$36.1M | −$24.3M | −$30.0M |
| Income taxes | — | — | $1.4M | $6.3M | $2.0M | $11.7M | $10.8M |
| Net income | −$21.5M | −$27.1M | −$33.0M | −$47.1M | −$36.1M | −$24.3M | −$30.0M |
| EBITDA | −$12.1M | −$16.6M | −$22.8M | −$36.6M | −$28.4M | −$12.5M | −$20.1M |
| EPS (diluted) | −$0.66 | −$0.95 | −$1.28 | −$1.92 | −$33.99 | −$0.17 | — |
| Gross margin | 77.2% | 73.9% | 73.6% | 71.4% | 74.0% | 73.6% | 71.6% |
| Operating margin | −16.3% | −27.1% | −41.5% | −89.6% | −52.5% | −31.7% | −59.6% |
| Net margin | −21.5% | −34.0% | −50.4% | −103.4% | −79.9% | −59.0% | −81.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.8M | $22.1M | $26.6M | $27.4M | $23.5M | $22.5M | $21.5M | $21.1M | $19.3M | $18.1M | $18.0M | $16.4M |
| Cost of revenue | $3.9M | $4.0M | $6.0M | $6.2M | $5.4M | $5.2M | $5.3M | $5.6M | $5.1M | $4.8M | $4.5M | $4.2M |
| Gross profit | $18.9M | $18.0M | $20.6M | $21.2M | $18.1M | $17.3M | $16.2M | $15.4M | $14.1M | $13.3M | $13.5M | $12.2M |
| Research & development | $6.9M | $7.2M | $7.0M | $6.6M | $6.8M | $7.4M | $6.0M | $5.8M | $6.1M | $5.8M | $5.4M | $4.8M |
| Sales, general & admin | $17.2M | $16.4M | $15.3M | $17.2M | $18.1M | $15.0M | $13.8M | $13.9M | $14.3M | $15.1M | $13.2M | $13.4M |
| Total operating expenses | $24.0M | $23.6M | $22.3M | $23.8M | $25.0M | $22.5M | $19.8M | $19.7M | $20.4M | $20.9M | $18.6M | $18.2M |
| Operating income | −$5.1M | −$5.6M | −$1.8M | −$2.6M | −$6.8M | −$5.1M | −$3.7M | −$4.2M | −$6.2M | −$7.5M | −$5.1M | −$6.0M |
| Interest income | $523,000 | $565,000 | $638,000 | $667,000 | $718,000 | $793,000 | $681,000 | $754,000 | $762,000 | $827,000 | $822,000 | $769,000 |
| Interest expense | $1.5M | $1.5M | $1.6M | $1.6M | $2.1M | $2.2M | $2.2M | $2.2M | $2.2M | $2.3M | $2.2M | $2.2M |
| Income before taxes | −$6.2M | −$6.7M | −$2.7M | −$3.5M | −$8.7M | −$6.6M | −$5.2M | −$5.5M | −$7.5M | −$8.9M | −$6.2M | −$7.3M |
| Income taxes | — | — | −$8.7M | — | — | — | −$379,724 | — | — | $379,724 | −$8.6M | $2.3M |
| Net income | −$6.2M | −$6.7M | −$2.7M | −$3.5M | −$8.7M | −$6.6M | −$5.2M | −$5.5M | −$7.5M | −$8.9M | −$6.2M | −$7.3M |
| EBITDA | −$4.1M | −$4.7M | −$607,000 | −$2.0M | −$6.1M | −$4.0M | −$2.6M | −$2.8M | −$4.9M | −$6.2M | −$3.6M | −$4.7M |
| EPS (diluted) | −$0.18 | −$0.20 | −$0.08 | −$0.11 | −$0.26 | −$0.21 | −$0.18 | −$0.19 | −$0.26 | −$0.32 | −$0.23 | −$0.28 |
| Gross margin | 82.8% | 81.8% | 77.4% | 77.4% | 77.1% | 77.0% | 75.4% | 73.2% | 73.4% | 73.6% | 75.2% | 74.5% |
| Operating margin | −22.5% | −25.2% | −6.6% | −9.5% | −29.0% | −22.9% | −17.0% | −20.1% | −32.4% | −41.6% | −28.0% | −36.2% |
| Net margin | −27.2% | −30.3% | −10.3% | −12.8% | −36.8% | −29.3% | −24.5% | −25.9% | −39.0% | −49.2% | −34.4% | −44.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NPCE's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NPCE financial results
In fiscal year 2025 (ended December 31, 2025), NeuroPace reported revenue of $100.0 million, up 25.1% from the year before. It had a net loss of $21.5 million, a net profit margin of −21.5%. Diluted earnings per share came to −$0.66. Over five years revenue grew at an average rate of 19.4% a year.
See the NPCE stock overview for the latest quote and news, or the NPCE chart for price history and technical indicators.
NPCE income statement FAQ
What is NeuroPace's annual revenue?
NeuroPace reported total revenue of $100.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 25.1% from $79.9 million the previous year.
Is NeuroPace profitable?
No. NeuroPace reported a net loss of $21.5 million in fiscal 2025, a net profit margin of −21.5%; its operating margin was −16.3%.
What is NeuroPace's gross margin?
NeuroPace's gross margin was 77.2% in fiscal 2025: for every $100 of revenue, NeuroPace kept $77 after the direct cost of its products and services.
How much does NeuroPace spend on research and development?
NeuroPace spent $27.9 million on research and development in fiscal 2025, 27.9% of revenue.
How fast is NeuroPace growing?
Revenue grew 19.4% a year on average over the last five fiscal years, from $41.1 million to $100.0 million.
What are NeuroPace's earnings per share?
NeuroPace earned $-0.66 per diluted share in fiscal 2025, compared with $-0.95 a year earlier.
When will NeuroPace report its next earnings?
NeuroPace is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does NeuroPace's fiscal year end?
NeuroPace's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.