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electroCore Q3 revenue rises on VA prescription growth

By Reuters News


Overview

  • U.S. bioelectronic tech firm's Q3 revenue rose 12% yr/yr but missed analyst expectations

  • Q3 net loss narrowed 61% yr/yr to $1.3 mln

  • Q3 operating income beat analyst estimates; analysts expected wider pretax loss


Outlook

  • Company revises 2026 revenue outlook to $39 mln-$42 mln, from prior >30% growth guidance

  • Company sees 2027 revenue growth of 30%-40% over 2026 and targets positive Adjusted EBITDA by end-2027

  • Company outlook assumes salesforce expansion and possible Quell label expansion, pending FDA clearance


Result Drivers

  • VA PRESCRIPTION GROWTH - Co said revenue growth was mainly driven by higher U.S. prescription sales to the Department of Veterans Affairs, including Quell Fibromyalgia and gammaCore products

  • FAVORABLE PRODUCT MIX - Co attributed higher gross margin to a more favorable product mix

  • COMMERCIAL EFFICIENCY - Co said improved commercial efficiency and cost controls contributed to lower operating loss


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$9.69 mln

$10.93 mln (5 Analysts)

Q3 Net Loss

$1.34 mln

Q3 Operating Income

Beat

-$1.56 mln

-$2.27 mln (5 Analysts)

Q3 Pretax Loss

Beat

$1.47 mln

$2.66 mln (4 Analysts)

Q3 Gross Profit

$8.57 mln

Q3 Operating Expenses

$10.13 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

  • Wall Street's median 12-month price target for electroCore, Inc. is $19.85, about 174.6% above its November 3 closing price of $7.23


Reuters Recommended Reads

  • Nov 3 - AtriCure Q3 revenue beats expectations on strong sales of pain management and appendage devices

  • Nov 2 - SI-BONE Q3 revenue rises 14.5%, slightly beats estimates

  • Nov 2 - Inspire Medical Q3 revenue falls, narrows outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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