$NPCE

NeuroPace Inc

CIK:0001528287|SEC Filings

Condensed Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 22,826	$ 19,501	$ 44,829	$ 37,822
Cost of goods sold	3,920	3,288	7,912	6,478
Gross profit	18,906	16,213	36,917	31,344
Operating expenses:
Sales and marketing	12,124	11,489	23,707	21,894
Research and development	6,898	6,845	14,087	14,285
General and administrative	5,027	6,068	9,871	10,114
Total operating expenses	24,049	24,402	47,665	46,293
Loss from continuing operations	(5,143)	(8,189)	(10,748)	(14,949)
Interest income	523	718	1,088	1,511
Interest expense	(1,539)	(2,059)	(3,060)	(4,212)
Other income (expense), net	(41)	(486)	(206)	(568)
Net loss and comprehensive loss from continuing operations	(6,200)	(10,016)	(12,926)	(18,218)
Net income from discontinued operations	0	1,365	37	2,978
Net loss and comprehensive loss	$ (6,200)	$ (8,651)	$ (12,889)	$ (15,240)
Net loss per share from continuing operations attributable to common stockholders, basic (in dollars per share)	$ (0.18)	$ (0.30)	$ (0.38)	$ (0.57)
Net loss per share from continuing operations attributable to common stockholders, diluted (in dollars per share)	(0.18)	(0.30)	(0.38)	(0.57)
Net income per share from discontinued operations attributable to common stockholders, basic (in dollars per share)	0.00	0.04	0.00	0.10
Net income per share from discontinued operations attributable to common stockholders, diluted (in dollars per share)	0.00	0.04	0.00	0.10
Net loss per share attributable to common stockholders, basic (in dollars per share)	(0.18)	(0.26)	(0.38)	(0.47)
Net loss per share attributable to common stockholders, diluted(in dollars per share)	$ (0.18)	$ (0.26)	$ (0.38)	$ (0.47)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	34,104,430	32,863,031	33,911,692	32,175,789
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	34,104,430	32,863,031	33,911,692	32,175,789

Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (12,889)	$ (15,240)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	4,581	5,854
Depreciation	126	104
Amortization of debt discount and issuance costs	138	104
Non-cash interest expense	157	390
Loss on debt extinguishment	0	527
Amortization of right-of-use asset	917	835
Unrealized loss on short-term investments	206	41
Inventory write-downs	144	93
Loss on disposal of property and equipment	0	2
Changes in operating assets and liabilities:
Accounts receivable	(249)	(704)
Inventory	(1,360)	(3,058)
Prepaid expenses and other assets	(14)	671
Accounts payable	1,983	1,703
Accrued liabilities	(2,489)	(120)
Deferred revenue	(18)	141
Operating lease liabilities	(1,036)	(911)
Net cash used in operating activities	(9,803)	(9,568)
Cash flows from investing activities
Acquisition of property and equipment	(242)	(205)
Net cash used in investing activities	(242)	(205)
Cash flows from financing activities
Repurchase of common stock from KCK Ltd.	0	(49,546)
Proceeds from issuance of common stock under employee plans	1,387	1,151
Taxes withheld and paid related to net share settlement of equity awards	(227)	(402)
Payment of annual debt fee	(150)	0
Net cash provided by financing activities	1,010	19,200
Net increase (decrease) in cash and cash equivalents	(9,035)	9,427
Cash, cash equivalents and restricted cash at the Beginning of the Period	21,814	13,552
Cash, cash equivalents and restricted cash at the End of the Period	12,779	22,979
Reconciliation of cash, cash equivalents and restricted cash to balance sheets:
Cash and cash equivalents	12,538	22,857
Restricted cash	241	122
Cash, cash equivalents and restricted cash in balance sheets	12,779	22,979
Supplemental disclosure of cash flow information:
Cash paid for interest	2,792	3,276
Supplemental disclosures of non-cash investing and financing information:
Follow-on offering costs included in accounts payable and accrued liabilities	0	50
Debt issuance costs included in accounts payable and accrued liabilities	0	82
Deferred offering costs offset against additional paid-in capital	0	277
Purchase of property and equipment included in accounts payable	17	25
Follow-on Offering
Cash flows from financing activities
Proceeds from issuance of common stock in follow-on offering, net of underwriting discounts and commissions	0	69,704
At-the-Market Equity Offering
Cash flows from financing activities
Proceeds from At-the-Market offering, net of sales commission	0	232
Proceeds from debt, net of discounts and issuance costs	0	58,568
Repayment of debt	$ 0	$ (60,507)

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 12,538	$ 21,692
Short-term investments	39,161	39,366
Accounts receivable	14,930	12,936
Inventory	18,111	14,862
Prepaid expenses and other current assets	1,453	1,438
Current assets of discontinued operations	0	3,779
Total current assets	86,193	94,073
Property and equipment, net	1,243	1,125
Operating lease right-of-use asset	9,216	10,132
Restricted cash	241	122
Other assets	98	113
Total assets	96,991	105,565
Current liabilities:
Accounts payable	4,204	1,776
Accrued liabilities	10,850	13,184
Operating lease liability	2,256	2,117
Deferred revenue	123	141
Current liabilities of discontinued operations	0	596
Total current liabilities	17,433	17,814
Long-term debt	59,014	58,884
Operating lease liability, net of current portion	8,661	9,836
Total liabilities	85,108	86,534
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 34,282,567 and 33,574,759 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	34	34
Additional paid-in capital	577,153	571,412
Accumulated deficit	(565,304)	(552,415)
Total stockholders’ equity	11,883	19,031
Total liabilities and stockholders’ equity	$ 96,991	$ 105,565