ElectroCore (ECOR, Financial) has successfully finalized its merger with NeuroMetrix, enhancing its status as a prominent player in the field of non-invasive health and wellness solutions. This strategic acquisition integrates NeuroMetrix's Quell Fibromyalgia Solution into ElectroCore’s offerings, broadening its range of bioelectronic therapies. The merger is set to extend ElectroCore’s commercial reach, especially within the Veteran Affairs Hospital System. Additionally, this expansion is anticipated to significantly increase ElectroCore’s potential market for addressing chronic pain and wellness conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for electroCore Inc (ECOR, Financial) is $25.20 with a high estimate of $30.00 and a low estimate of $20.00. The average target implies an upside of 232.89% from the current price of $7.57. More detailed estimate data can be found on the electroCore Inc (ECOR) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, electroCore Inc's (ECOR, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for electroCore Inc (ECOR, Financial) in one year is $12.48, suggesting a upside of 64.86% from the current price of $7.57. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the electroCore Inc (ECOR) Summary page.
ECOR Key Business Developments
Release Date: March 12, 2025
- Revenue: $25.2 million for 2024, up 57% from 2023.
- Fourth Quarter Revenue: $7 million, a 36% increase over Q4 2023.
- Gross Margin: 85% for 2024, compared to 83% in 2023.
- Net Loss: $11.9 million for 2024, improved from $18.8 million in 2023.
- Adjusted EBITDA Net Loss: $9 million for 2024, compared to $15.4 million in 2023.
- Cash and Equivalents: $12.2 million as of December 31, 2024, up from $10.6 million in 2023.
- VA Channel Sales: $17.8 million for 2024, up 85% from 2023.
- Truvaga Sales: $2.8 million for 2024, a 174% increase over 2023.
- TAC-STIM Sales: $1.2 million for 2024, down from $1.7 million in 2023.
- Operating Expenses: $33.6 million for 2024, compared to $32.5 million in 2023.
- Research and Development Expense: $2.4 million for 2024, down from $5.3 million in 2023.
- Selling, General, and Administrative Expense: $31.2 million for 2024, up from $27.2 million in 2023.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- ElectroCore Inc (ECOR, Financial) reported a 57% increase in revenue for 2024, reaching $25.2 million, driven by growth in both prescription and non-prescription product lines.
- The company achieved a gross margin of 85% for the full year 2024, up from 83% in 2023, indicating improved profitability.
- Sales in the VA channel grew significantly, with an 85% increase to $17.8 million for the full year 2024, highlighting strong demand in this segment.
- The Truvaga brand saw a 174% increase in net sales for 2024, demonstrating successful expansion in the direct-to-consumer wellness market.
- ElectroCore Inc (ECOR) is making progress towards positive cash flow from operations and GAAP profitability, with a 37% reduction in net loss for the year.
Negative Points
- The US prescription gammaCore channel recorded a 15% decline in revenue for 2024, indicating challenges in this segment.
- The acquisition process for TAC-STIM with the Department of Defense is lengthy and opaque, making revenue from this product line hard to predict.
- The Joerns Healthcare channel has been slower to gain traction than anticipated, with only modest progress in prescription volumes.
- Revenue from channels outside the United States remained flat, suggesting limited growth in international markets.
- The company is refraining from providing guidance for 2025 pending the close of the NeuroMetrix acquisition, creating uncertainty about future performance.
