electroCore, Q3 2026 Earnings Call Transcript

electroCore posted record third-quarter sales of $9.7 million, up 12% year over year, with an 88.5% gross margin and adjusted EBITDA loss narrowing to $0.7 million. The company lowered its 2026 revenue outlook to $39–42 million, saying sales-force changes have delayed expected growth. It forecasts 30–40% revenue growth in 2027 and expects to reach positive adjusted EBITDA by the end of that year, provided revenue growth and operating efficiencies meet current expectations; management says it does not expect to need new dilutive equity financing to do so.

Growth plans center on broader VA sales coverage, more productive representatives and higher patient refill rates. electroCore has filed an FDA 510(k) application for Quell to treat chemotherapy-induced peripheral neuropathy; clearance could open an additional market, though the company treats CIPN sales as potential upside to its 2027 outlook and notes that FDA timing remains uncertain. Cash and marketable securities stood at $7.5 million at quarter-end, and the company is evaluating options to refinance its term loan, without any agreement in place.