electroCore (NASDAQ:ECOR) Announces Earnings Results

electroCore (NASDAQ:ECOR) issued its quarterly earnings results on Thursday. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09, FiscalAI reports. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 39.96%.The firm had revenue of $9.45 million during the quarter, compared to the consensus estimate of $9.49 million.

Here are the key takeaways from electroCore’s conference call:

• Revenue grew 28% year over year to $9.5 million, driven by VA prescription sales of gammaCore and Quell, along with Truvaga growth. Management raised 2026 revenue guidance to more than 30% growth.
• Operating performance improved, with GAAP net loss narrowing to $3.1 million and adjusted EBITDA loss improving 26% year over year to $1.8 million. Management believes the commercial restructuring creates a path to positive adjusted EBITDA in the third quarter of 2027 without a dilutive equity raise.
• Quell was a major growth driver, with second-quarter sales up approximately 700% year over year to $1.3 million. The company is expanding Quell utilization across existing VA accounts and is targeting an FDA submission by year-end for chemotherapy-induced peripheral neuropathy.
• electroCore doubled its sales regions, added 17 independent representatives covering 29 VA medical centers, and is expanding into the Department of Defense, federal workers’ compensation, first responders, and other federal channels. Moving federal supply schedule sales to Lovell Government Services is expected to reduce related costs by roughly 3% of general and administrative expenses and transaction fees.
• Truvaga faced rising competition and advertising costs, with direct cost per click increasing roughly 30% and media efficiency declining. In addition, FDA observations regarding patient-complaint processes will delay a potential Quell 2.0 rebrand and direct-to-consumer relaunch, while VA account concentration remains a risk after a facility staffing issue shifted approximately $145,000 of revenue into the third quarter.

electroCore Stock Up 20.7%

electroCore stock opened at $8.09 on Friday. electroCore has a 12-month low of $4.16 and a 12-month high of $10.49. The firm’s fifty day moving average is $7.69 and its 200 day moving average is $6.99. The company has a market capitalization of $72.97 million, a PE ratio of -4.87 and a beta of 0.92.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

Insiders Place Their Bets

In related news, Director Thomas J. Errico purchased 9,992 shares of electroCore stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $5.99 per share, for a total transaction of $59,852.08. Following the completion of the acquisition, the director owned 360,071 shares of the company’s stock, valued at $2,156,825.29. This trade represents a 2.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joshua S. Lev sold 6,667 shares of electroCore stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $60,003.00. Following the completion of the sale, the chief financial officer directly owned 84,889 shares of the company’s stock, valued at approximately $764,001. This trade represents a 7.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ECOR. Cubist Systematic Strategies LLC bought a new position in electroCore in the first quarter worth approximately $153,000. NewEdge Advisors LLC increased its holdings in shares of electroCore by 857.9% during the first quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock valued at $1,083,000 after acquiring an additional 145,047 shares in the last quarter. Jane Street Group LLC raised its position in shares of electroCore by 114.4% during the first quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after purchasing an additional 19,599 shares during the period. Two Sigma Investments LP raised its position in shares of electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after purchasing an additional 4,231 shares during the period. Finally, DRW Securities LLC bought a new position in shares of electroCore in the 4th quarter worth $264,000. 26.74% of the stock is owned by institutional investors and hedge funds.

About electroCore

electroCore, Inc is a commercial-stage bioelectronic medicine company headquartered in Rockaway, New Jersey. The company specializes in the development and commercialization of non-invasive vagus nerve stimulation (nVNS) therapies designed to address a variety of neurological and inflammatory conditions. Established in 2006, electroCore has focused its efforts on translating neuromodulation science into a compact, patient-administered treatment device.

The company’s lead product, gammaCore®, is a handheld, battery-powered device that delivers nVNS through the skin to the cervical branch of the vagus nerve.