Q2 2026 Ceribell, Inc. Earnings Call Transcript
Key Points
- Revenue grew 33% year-over-year to $28.1 million, accelerating from 29% growth in Q1 2026.
- Record gross margin of 92% in Q2, or 89% excluding tariff refunds, driven by supply chain optimization and manufacturing diversification.
- Received FDA 510(k) clearances for two new algorithms (artifact reduction and epileptiform abnormality detection), enhancing the platform's clinical utility.
- CMS granted a New Technology Add-on Payment (NTAP) for the Delirium Monitoring Solution, providing up to $2,171 in incremental reimbursement per patient, effective October 1, 2026.
- Launched neonate and pediatric products with early commercial traction, including purchase orders from new and existing customers, and expanded the account base to 712 active accounts.
- Refinanced credit facility, securing up to $60 million in committed capital with extended repayment timeline to 2031, improving strategic flexibility.
- Net loss widened to $19.3 million in Q2 2026, compared to $13.6 million in Q2 2025, due to increased operating expenses.
- Operating expenses rose 37% year-over-year, driven by headcount expansion, R&D investments, and elevated IP litigation costs of $3.9 million.
- Gross margin was positively impacted by a one-time tariff refund; excluding this, margin was 89%, indicating underlying margin pressure from tariffs.
- The company remains unprofitable with an adjusted EBITDA loss of $9.8 million, reflecting continued reinvestment in growth initiatives.
- Delirium and neonate/pediatric products are not expected to contribute materially to revenue until 2027, limiting near-term growth diversification.
- The new hardware platform launch is targeted for 2027, with no immediate revenue contribution, and the company faces uncertainty in scaling manufacturing and market adoption.
Ladies and gentlemen, thank you for standing by. My name is Desiree and I will be your conference operator today. At this time, I would like to welcome everyone to Ceribell Q2 2026 earnings call. (Operator Instructions)
I would now like to turn the call over to Brian Johnston of Gilmartin Group. You may begin.
Good afternoon and thank you all for participating in today's call. Joining me from Ceribell are Jane Chao, Co-Founder and Chief Executive Officer; and Scott Blumberg, Chief Financial Officer. Earlier today, Ceribell issued a press release announcing financial results for the quarter ended June 30, 2026. A copy of the press release is available on the Investor Relations section of the company website.
Before we begin, I'd like to remind you that management will make remarks during this call that include forward-looking statements within the meaning of federal securities laws and that these are being made pursuant to the Safe Harbor provisions of the Private Securities Litigation
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
