Q2 2026 Neuraxis Inc Earnings Call Transcript
Key Points
- Revenue surged 116% year-over-year to $1.928 million in Q2 2026, marking the eighth consecutive quarter of double-digit growth.
- Average selling price increased 30% year-to-date to $1,003, driven by a favorable mix shift toward fully reimbursed procedures.
- Gross margin expanded to 85.9% in Q2 2026, up 230 basis points from the prior year, reflecting improved payer mix.
- Significant progress with two large commercial payers, with management expressing cautious optimism for new coverage in late 2026 or early 2027.
- Expansion into the VA channel with 10 dedicated 1099 reps, expected to be trained and selling by September 15, 2026, creating a new growth platform.
- Operating expenses increased 53% in Q2 2026, outpacing revenue growth and widening the operating loss to $2.1 million.
- Cash burn is expected to increase in the second half of 2026 due to aggressive hiring and expansion, despite a reduced burn rate in H1.
- The company still operates with a going concern uncertainty, dependent on future insurance coverage and cash flow breakeven.
- Payer coverage remains limited, with only a fraction of eligible patients being treated, and many states have not yet loaded the new CPT code into Medicaid fee schedules.
- The company's growth is heavily reliant on securing additional large payer policies, which remain unpredictable in timing and outcome.
Good morning everyone and welcome to the Nuraxis Report Second Quarter Fiscal Year 2026 Financial Results Conference Call.
All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.
After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press and then one on your touchtone phones.
To withdraw your questions, you may press and two.
Also note, today's event is being recorded.
I would now like to hand the floor over to Ben Shamsian, Investor Relations. Sir, please go ahead.
Thank you, and good morning, everyone.
Thank you for joining us for Nuraxis Second Quarter 2026 Financial Results and Corporate Update Conference Call. Joining us on the call today is Brian Jarico, CEO of Nuraxis and Tim Hendricks, CFO of Nuraxis.
At the conclusion of today's prepared remarks, we will open the call to questions.
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