Neuroone Medical Technologies (NMTC) Q2 2026 earnings summary

Executive summary

• Product revenue for the OneRF Brain Ablation System grew 72% year-over-year to $2.4 million in Q2 FY2026, driven by higher sales and positive clinical outcomes for epilepsy and facial pain treatments.

• Sixteen trigeminal neuralgia cases were completed with all patients pain free post-procedure.

• Regained Nasdaq compliance after a 1-for-6 reverse stock split and appointed a new Chief Business Officer, with a CFO transition plan and a high-net-worth investor acquiring 7.4% of shares.

• Collaboration with University of Minnesota to advance epilepsy therapies using sEEG-based platform.

• Focused 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

• Q2 FY2026 product revenue was $2.4 million, up 72% from $1.4 million in Q2 FY2025; six-month product revenue was $5.3 million, a 13% increase year-over-year.

• No license revenue in FY2026 versus $3 million in the prior year period.

• Product gross profit was $1.3 million (53.8% margin) in Q2 FY2026, compared to $0.8 million (55.6%) in Q2 FY2025; six-month gross profit was $2.9 million (54.0% margin), down from 57.9% year-over-year.

• Net loss for Q2 FY2026 was $2.1 million ($0.25 per share), improved from $2.3 million ($0.44 per share) in Q2 FY2025; six-month net loss was $3.5 million, compared to $0.5 million in the prior year.

• Cash and cash equivalents were $2.8 million as of March 31, 2026, with working capital at $5.7 million and no debt outstanding.

Outlook and guidance

• FY2026 product revenue guidance remains at $10.5 million, excluding contributions from drug delivery and facial pain products.

• Drug delivery system expected to be commercially available for investigational use in the second half of FY2026.

• International expansion anticipated after ISO 13485 certification, targeted for late 2026.

• Management expects continued operating losses until commercial sales reach a level sufficient to cover expenses, and is actively seeking additional funding.

• Current cash and anticipated product revenue expected to fund operations through September 2026, but substantial doubt exists about the ability to continue as a going concern without additional capital.