Company Overview
electroCore, Inc. operates as a bioelectronic technology medicine and general wellness company that provides a non-invasive vagus nerve stimulation technology platform across the United States, the United Kingdom, and international markets. The firm develops gammaCore, a prescription-only handheld device intended for specific therapeutic applications, positioning the entity within the broader healthcare ecosystem. This organization functions specifically within the healthcare sector and the medical devices industry, an environment characterized by high regulatory standards and significant innovation in therapeutic delivery mechanisms. The company's current scale is defined by a market capitalization of $47.37M, an annual revenue of $32.03M, and an employee count of 83 individuals. These valuation and revenue figures indicate that electroCore, Inc. occupies a mid-cap position in its niche, suggesting a specialized market footprint that relies heavily on the adoption of its proprietary nVNS technology rather than broad-scale commercial dominance.
Financial Health
The company reports a revenue of $32.03M for the trailing twelve months, yet it recorded a net income of -$13,966,000 and an EBITDA of -$12,652,000 during the same period. The substantial gap between the positive revenue of $32.03M and the significant negative net income of -$13,966,000 reveals a cost structure where operating expenses, research and development costs, or general and administrative expenses far exceed gross profits. Specifically, the operating margin stands at -31.8%, while the gross margin is a robust 86.8% and the profit margin is -43.6%. The high gross margin of 86.8% indicates strong pricing power or low cost of goods sold relative to the device price, but the negative operating and profit margins demonstrate that overhead costs are consuming the majority of the top-line revenue. The company maintains a cash balance of $11.61M against total debt of $9.40M, resulting in a debt-to-equity ratio that is listed as N/A. Despite the leverage implied by the debt figure, the presence of $11.61M in cash suggests a balance sheet that retains significant liquidity buffers to manage obligations. The current ratio is 1.38, which indicates that the company possesses sufficient short-term assets to cover its short-term liabilities, reflecting a reasonable level of immediate liquidity. Furthermore, the return on equity is -478.7% and the return on assets is -42.0%, metrics that reveal the company is currently generating negative returns on its capital base due to the ongoing net losses.
Valuation Assessment
The trailing twelve-month P/E ratio is N/A because the company is reporting losses, while the forward P/E is -10.65, a metric that is often used to gauge expected earnings trajectory in the context of a turnaround or high-growth phase. The price-to-book ratio is -27.38, which indicates a negative market premium over book value and suggests that the market is pricing in significant risk or potential dilution rather than asset-backed value. Alternative valuation metrics such as the price-to-sales ratio of 1.48 and the EV/EBITDA of -3.57 provide perspective on the company's valuation relative to its revenue generation and enterprise value. The 52-week high is $8.64 and the 52-week low is $4.16, meaning the current trading price sits within this historical range, specifically reflecting a valuation that has fluctuated significantly over the past year. The beta value is 0.50, which indicates that the stock price volatility is historically half that of the broader market, suggesting lower sensitivity to general market movements compared to high-beta equities.
Growth & Income
The company demonstrates a revenue growth of 31.2% year over year, whereas the earnings growth is N/A due to the negative net income reported in the trailing twelve months. Since earnings are not growing in a positive sense, the company is currently prioritizing revenue expansion and market penetration over immediate profitability. The company does not pay dividends, evidenced by a dividend yield of N/A and a payout ratio of 0.0%. Because the payout ratio is 0.0%, the firm reinvests all available earnings, or rather, all available cash flow, back into the business to fund operations and growth initiatives rather than distributing income to shareholders. This growth and income profile highlights a classic early-stage or growth-phase biotech or medtech dynamic where capital is deployed to achieve commercial milestones rather than to provide current income yields.