Q3 2025 Neuropace Inc Earnings Call Transcript
Key Points
- NeuroPace Inc (NPCE) reported record revenue of $27.4 million for Q3 2025, marking a 30% year-over-year growth.
- The RNS system revenue grew by 31% year-over-year, driven by broad-based growth across geographies and customer segments.
- The company achieved positive adjusted EBITDA for the first time in its history, reflecting scalability and disciplined expense management.
- Gross margin improved to 77.4% in Q3 2025, up from 73.2% in the prior year, with RNS system gross margin above 80%.
- NeuroPace Inc (NPCE) raised its full-year revenue guidance to $97 million to $98 million, indicating a 21% to 23% year-over-year growth.
- The wind down of the Dixie product line is expected to impact revenue, with minimal sales anticipated in Q1 2026.
- The pediatric indication expansion timeline has been extended beyond 2025 due to delays in aligning protocol and data set.
- Operating expenses increased by 21% in Q3 2025, driven by higher selling expenses and variable compensation accruals.
- The net loss for Q3 2025 was $3.5 million, although improved from the prior year, it still indicates ongoing financial challenges.
- Free cash flow was negative $2 million in Q3 2025, reflecting higher inventory levels due to final orders for the Dixie product line.
Ladies and gentlemen, thank you for standing by. My name is Colby, and I'll be your conference operator today. [Operator Instructions] I would now like to turn the call over to Scott Schaefer, head of investor of NeuroSpace. Please go ahead.
Thank you, operator, and welcome to Narrow Pace's 3rd quarter 2025 earnings conference call. Our agenda begins with Joel Becker, Nearrow Pace's Chief Executive Officer, who will summarize our recent highlights and ongoing strategic initiatives, followed by a financial review and outlook from Patrick Williams, our Chief Financial Officer.
Following our prepared remarks, we'll open the call up for your questions. At that time we ask the analysts to limit themselves to one question and one follow-up question each so we can provide an opportunity for everyone participating today.
Let's quickly review our safe harbor statement. Some of the statements we will make on today's call may constitute forward-looking statements. These statements reflect
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