$NRXS

Neuraxis, INC

CIK:0001933567|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Net Sales

$ 1,928,695

$ 894,086

$ 3,536,578

$ 1,789,741

Cost of Goods Sold

272,573

146,643

490,939

286,118

Gross Profit

1,656,122

747,443

3,045,639

1,503,623

Selling Expenses

^[1]

861,387

534,013

1,685,724

1,034,131

Research and Development

^[1]

274,344

115,197

373,911

222,201

General and Administrative

2,645,103

1,816,091

4,851,395

4,260,246

Operating Loss

(2,124,712)

(1,717,858)

(3,865,391)

(4,012,955)

Other Income (Expense):

Interest expense

(19,794)

(13,434)

(45,983)

(15,672)

Change in fair value of warrant liability

2,449

(119)

(29,057)

1,712

Other income

56,311

40,993

93,253

57,813

Total other income, net

38,966

27,440

18,213

43,853

Loss Before Income Taxes

(2,085,746)

(1,690,418)

(3,847,178)

(3,969,102)

Income tax expense (benefit)

Net Loss

(2,085,746)

(1,690,418)

(3,847,178)

(3,969,102)

Preferred stock dividends

(191,503)

(207,465)

(380,902)

(421,008)

Net Loss Available to Common Stockholders

$ (2,277,249)

$ (1,897,883)

$ (4,228,080)

$ (4,390,110)

Per-Share Data

Basic loss per share

$ (0.19)

$ (0.22)

$ (0.37)

$ (0.56)

Diluted loss per share

$ (0.19)

$ (0.22)

$ (0.37)

$ (0.56)

Weighted Average Common Shares Outstanding

Basic

12,119,822

8,520,596

11,537,209

7,903,716

Diluted

12,119,822

8,520,596

11,537,209

7,903,716

[1]	The significant expense categories and amounts align with the segment-level information provided on a regular basis to the CODM.

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash Flows from Operating Activities
Net Loss	$ (2,085,746)	$ (1,761,432)	$ (1,690,418)	$ (2,278,684)	$ (3,847,178)	$ (3,969,102)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	16,650		12,885		32,968	19,241
Provisions for losses on accounts receivable					13,036
Provisions for losses on inventory					4,015	12,174
Loss on disposal of property and equipment						168
Non-cash lease expense					33,020	28,001
Stock-based compensation					969,237	278,854
Issuance of common stock for non-cash consideration					100,002
Change in fair value of warrant liabilities	(2,449)		119		29,057	(1,712)
Changes in operating assets and liabilities:
Accounts receivable					(250,258)	116,100
Inventory					(24,191)	(99,278)
Prepaids and other current assets					38,040	32,295
Accounts payable					652,222	(132,430)
Accrued expenses					19,863	407,812
Customer deposits					2,514	(600)
Operating lease liability					(31,652)	(30,208)
Other non-current liabilities						267,540
Net cash used in operating activities					(2,259,305)	(3,071,145)
Cash Flows from Investing Activities
Additions to property and equipment					(6,303)	(25,288)
Net cash used in investing activities					(6,303)	(25,288)
Cash Flows from Financing Activities
Proceeds from issuance of common stock					5,061,018	4,999,999
Proceeds from exercised warrants					943,970	1,002,991
Proceeds from Employee Stock Purchase Plan common stock issuance					86,015
Fractional shares of preferred dividends declared settled in cash					(25)
Offering costs paid					(151,831)	(459,999)
Principal payments on notes payable					(115,566)	(154,972)
Repayment of license acquisition payable					(100,000)
Taxes paid related to net share settlement of restricted stock units					(100,787)
Net cash provided by financing activities					5,622,794	5,388,019
Net Increase in Cash and Cash Equivalents					3,357,186	2,291,586
Cash and Cash Equivalents at Beginning of Period		$ 4,965,072		$ 3,696,870	4,965,072	3,696,870	$ 3,696,870
Cash and Cash Equivalents at End of Period	$ 8,322,258		$ 5,988,456		8,322,258	5,988,456	$ 4,965,072
Supplemental Disclosure of Operating Activities
Cash paid for interest					4,691	3,701
Cash paid for federal income taxes
Cash refunded for state income taxes						12,977
Supplemental Schedule of Non-Cash Investing and Financing Activities
Issuance of common stock pursuant to declaration of Series B Preferred Stock dividends					1,215,239
Common stock issued for services					399,995	112,493
Common stock issued upon cashless exercise of warrants						186
Common stock issued upon vesting of restricted stock units, net of shares withheld for payment of payroll taxes					30
Deferred offering costs reclassified to additional paid in capital upon completion of stock offering					$ 24,733

Condensed Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 8,322,258	$ 4,965,072
Accounts receivable, net of credit losses of $19,019 and $7,326 as of June 30, 2026 and December 31, 2025, respectively	432,925	195,703
Inventories, net of reserves of $10,926 and $34,524 as of June 30, 2026 and December 31, 2025, respectively	277,308	257,132
Prepaids and other current assets	381,654	315,283
Total current assets	9,414,145	5,733,190
Property and Equipment, at Cost:	388,768	382,465
Less - accumulated depreciation	(323,305)	(306,901)
Property and equipment, net	65,463	75,564
Other Assets:
Operating lease right of use asset, net	228,545	261,565
Intangible assets, net	258,214	274,778
Other non-current assets	29,793	58,939
Total Assets	9,996,160	6,404,036
Current Liabilities:
Accounts payable	791,587	139,365
Accrued expenses	2,113,097	2,393,229
Current portion of operating lease payable	71,942	65,752
Notes payable	42,726	148,293
Customer deposits	31,174	28,660
Warrant liabilities	45,857	16,800
Total current liabilities	3,096,383	2,792,099
Non-Current Liabilities:
Operating lease payable, net of current portion	164,724	202,566
Other non-current liabilities		9,999
Total liabilities	3,261,107	3,004,664
Commitments and contingencies (see note 15)
Stockholders’ Equity
Convertible Series B Preferred stock, $0.001 par value; 5,000,000 shares authorized, 3,796,907 shares issued and outstanding as of June 30, 2026 and December 31, 2025	3,797	3,797
Common stock, $0.001 par value; 100,000,000 shares authorized; 12,468,059 and 10,652,812 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	12,468	10,653
Additional paid in capital	76,381,397	67,985,089
Accumulated deficit	(69,662,609)	(64,600,167)
Total stockholders’ equity	6,735,053	3,399,372
Total Liabilities and Stockholders’ Equity	$ 9,996,160	$ 6,404,036