Neuroone Medical Technologies (NMTC) Q1 2026 earnings summary

Executive summary

• Product revenue for Q1 2026 was $2.9 million, up 5.5% sequentially from Q4 2025 but down from $3.3 million in Q1 2025 due to a prior large stocking order and no license revenue.

• Net loss for Q1 2026 was $1.4 million ($0.03 per share), compared to net income of $1.8 million ($0.06 per share) in Q1 2025, which included $3.0 million in license revenue.

• FDA 510(k) clearance was received for the OneRF Trigeminal Nerve Ablation System, with nine successful cases and all patients reporting pain relief.

• Fiscal 2026 sales are projected to reach at least $10.5 million, representing a minimum 17% increase over fiscal 2025.

• Focus on commercializing thin film electrode and ablation technologies for neurological disorders, with four FDA-cleared devices and a key distribution agreement with Zimmer.

Financial highlights

• Product gross profit for Q1 2026 was $1.6 million (54.2% margin), compared to $1.9 million (58.9% margin) in Q1 2025.

• Total operating expenses were $3.3 million, with R&D at $1.4 million and SG&A at $1.9 million.

• No license revenue in Q1 2026, compared to $3.0 million in Q1 2025 from the Zimmer distribution agreement.

• Cash and cash equivalents stood at $3.6 million as of December 31, 2025, down from $6.6 million at September 30, 2025.

• Accumulated deficit reached $80.0 million as of December 31, 2025, with ongoing losses and negative cash flows from operations.

Outlook and guidance

• Fiscal 2026 revenue guidance is at least $10.5 million, a minimum 17% increase over fiscal 2025.

• Company expects to be funded through fiscal 2026, potentially longer if milestones are achieved, but substantial doubt exists about the ability to continue as a going concern without new funding.

• SG&A expenses expected to remain flat for the rest of the year; R&D may fluctuate with project phases.

• Management expects continued significant expenses and operating losses until higher commercial sales are achieved.

• Plans to seek additional funding through equity or debt financing, collaborations, or partnerships.