NPCE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $12.70

Market Cap (MRQ) $435M

P/E (TTM) -22.3

EPS (TTM) $-0.57

Revenue (TTM) $99M

ROE (TTM) -122.1%

Debt/Equity (MRQ) 5.0

52W Range $9–$20

NPCE Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

range

bars

Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.

About Neuropace, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

Wikidata ↗

sectorHealth Care industryHealth Care employees220 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$100M

2020-12-31 → 2025-12-31

EPS$-0.66

2020-12-31 → 2025-12-31

Free Cash Flow$-11M

2021-12-31 → 2025-12-31

Net margin-19.3%

2021-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	NPCE	5Y avg	Peer Median	Verdict
P/E (TTM)	-22.35Y avg ≈-9.8	≈-9.8	·	·
P/S (TTM)	4.45Y avg ≈4.0	≈4.0	4.2	Overvalued
P/B (MRQ)	36.65Y avg ≈17.5	≈17.5	3.5	Overvalued
EV / EBITDA	-26.25Y avg ≈-13.1	≈-13.1	·	·
Price / FCF (TTM)	-37.55Y avg ≈-17.9	≈-17.9	·	·
Price / Cash Flow (TTM)	-38.75Y avg ≈-18.3	≈-18.3	·	·
EV / Revenue (TTM)	4.55Y avg ≈3.6	≈3.6	·	·
EV / FCF (TTM)	-38.15Y avg ≈-17.2	≈-17.2	·	·
Price / Tangible Book	22.65Y avg ≈17.5	≈17.5	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	NPCE	5Y avg	Peer Median	Verdict
Gross Margin (TTM)	79.6%5Y avg ≈74.0%	≈74.0%	76.2%	Top tier
Operating Margin (TTM)	-15.3%5Y avg ≈-45.4%	≈-45.4%	-14.5%	Weak
EBITDA Margin	-16.3%5Y avg ≈-45.4%	≈-45.4%	-14.5%	Weak
Net Profit Margin (TTM)	-19.3%5Y avg ≈-57.8%	≈-57.8%	-15.2%	Weak
ROA (TTM)	-18.8%5Y avg ≈-30.8%	≈-30.8%	-17.4%	Below avg
ROE (TTM)	-122.1%5Y avg ≈-152.2%	≈-152.2%	-39.3%	Weak

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	NPCE	5Y avg	Peer Median	Verdict
Debt / Equity (MRQ)	5.05Y avg ≈3.1	≈3.1	0.7	High debt
Current Ratio (MRQ)	4.95Y avg ≈7.9	≈7.9	4.8	In line
Quick Ratio (MRQ)	3.85Y avg ≈6.9	≈6.9	3.7	In line
Long-Term Debt / Equity (MRQ)	5.05Y avg ≈3.1	≈3.1	0.6	High debt

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	NPCE	5Y avg	Peer Median	Verdict
Revenue YoY	25.1%5Y avg ≈20.3%	≈20.3%	·	·
Revenue CAGR 3Y	30.0%5Y avg ≈22.5%	≈22.5%	·	·
Revenue CAGR 5Y	19.4%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	NPCE	5Y avg	Peer Median	Verdict
EPS (Diluted)	$-0.665Y avg ≈$-1.39	≈$-1.39	·	·
Revenue / Share	$3.065Y avg ≈$2.58	≈$2.58	·	·
Cash Flow / Share	$-0.345Y avg ≈$-0.94	≈$-0.94	·	·
Cash / Share	$0.655Y avg ≈$0.56	≈$0.56	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	NPCE	5Y avg	Peer Median	Verdict
Asset Turnover	1.05Y avg ≈0.6	≈0.6	0.7	Top tier
Inventory Turnover	1.55Y avg ≈1.6	≈1.6	2.3	Weak
Receivables Turnover	7.35Y avg ≈6.5	≈6.5	7.0	In line
Revenue / Employee	≈$454.5K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise 20.1%

Next Report Nov 02, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 10, 2026	$-0.18	$-0.21	14.6%
March 31, 2026	May 11, 2026	$-0.20	$-0.23	12.4%
Dec. 31, 2025		$-0.08	$-0.15	48.2%
Sept. 30, 2025		$-0.11	$-0.20	45.1%
June 30, 2025		$-0.26	$-0.23	-14.5%
March 31, 2025		$-0.21	$-0.25	14.7%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 17

Metric	2025	2024	2023	2022	2021	2020
Revenue	$100M	$80M	$65M	$46M	$45M	$41M
Cost of Revenue	$23M	$21M	$17M	$13M	$12M	$11M
Gross Profit	$77M	$59M	$48M	$32M	$33M	$30M
R&D Expense	$28M	$24M	$21M	$22M	$18M	$16M
SG&A Expense	$19M	$17M	$55M	$51M	$39M	$28M
Operating Expenses	$94M	$81M	$75M	$73M	$57M	$43M
Operating Income	$-16M	$-22M	$-27M	$-41M	$-24M	$-13M
Interest Expense	·	·	$9M	$8M	$7M	$11M
Interest Income	$3M	$3M	$3M	$2M	$448.0K	$41.0K
Other Non-op	$-486.0K	$304.0K	$-315.0K	$-337.0K	$-5M	$218.0K
Income Tax	$0	·	·	·	·	·
Net Income	$-21M	$-27M	$-33M	$-47M	$-36M	$-24M
EPS (Basic)	$-0.66	$-0.93	$-1.27	$-1.91	$-2.17	$-117.85
EPS (Diluted)	$-0.66	$-0.93	$-1.27	$-1.91	$-2.17	$-117.85
Shares (Basic)	32,722,438	29,126,314	25,851,813	24,594,784	16,608,800	204,068
Shares (Diluted)	32,722,438	29,126,314	25,851,813	24,594,784	16,608,800	204,068
EBITDA	$-16M	$-22M	$-27M	$-41M	$-24M	·

Balance Sheet 26

Metric	2025	2024	2023	2022	2021	2020
Cash & Equivalents	$22M	$13M	$18M	$7M	$19M	$26M
Short-term Investments	$39M	$39M	$48M	$71M	$96M	$12M
Receivables	$13M	$13M	$12M	$7M	$7M	$8M
Inventory	$15M	$13M	$11M	$10M	$8M	$7M
Prepaid Expense	$1M	$2M	$3M	$3M	$2M	$1M
Current Assets	$94M	$81M	$93M	$98M	$133M	$55M
PP&E (Net)	$1M	$1M	$1M	$1M	$603.0K	$515.0K
PP&E (Gross)	$9M	$9M	$9M	$10M	$9M	$9M
Accum. Depreciation	$8M	$8M	$8M	$9M	$8M	$8M
Other Non-current Assets	$113.0K	$15.0K	$15.0K	$21.0K	$21.0K	$23.0K
Total Assets	$106M	$95M	$108M	$114M	$134M	$56M
Accounts Payable	$2M	$3M	$2M	$2M	$1M	$949.0K
Accrued Liabilities	$13M	$10M	$11M	$7M	$8M	$7M
Current Liabilities	$18M	$15M	$16M	$11M	$9M	$10M
Capital Leases	$10M	$12M	$14M	$15M	$0	·
Other Non-current Liabilities	·	·	·	·	$0	$274.0K
Total Liabilities	$87M	$87M	$87M	$79M	$60M	$62M
Long-term Debt	·	·	·	·	$50M	$53M
Total Debt	$59M	$60M	$57M	$53M	$50M	·
Common Stock	$34.0K	$30.0K	$28.0K	$25.0K	$24.0K	$0
Paid-in Capital	$571M	$539M	$524M	$507M	$498M	$240M
Retained Earnings	$-552M	$-531M	$-504M	$-471M	$-424M	$-388M
AOCI	·	·	$0	$-1M	$-272.0K	$33.0K
Stockholders' Equity	$19M	$8M	$21M	$35M	$74M	$-148M
Liabilities + Equity	$106M	$95M	$108M	$114M	$134M	$56M
Shares Outstanding	33,574,759	30,145,039	27,823,465	25,045,751	24,452,999	314,096

Cash Flow 9

Metric	2025	2024	2023	2022	2021	2020
Stock-based Comp	$11M	$10M	$10M	$8M	$4M	$1M
Operating Cash Flow	$-11M	$-18M	$-20M	$-37M	$-25M	$-22M
CapEx	$332.0K	$306.0K	$173.0K	$603.0K	$384.0K	$62.0K
Investing Cash Flow	$-332.0K	$9M	$23M	$24M	$-85M	$-11M
Stock Repurchased	$50M	$0	·	·	·	·
Net Stock Activity	$-50M	·	·	·	·	·
Financing Cash Flow	$20M	$4M	$8M	$490.0K	$103M	$55M
Net Change in Cash	$8M	$-5M	$11M	$-13M	$-7M	$23M
Free Cash Flow	$-11M	$-18M	$-20M	$-37M	$-25M	·

Profitability 6

Metric	2025	2024	2023	2022	2021	2020
Gross Margin	77.2%	73.9%	73.6%	71.4%	74.0%	·
Operating Margin	-16.3%	-27.1%	-41.5%	-89.6%	-52.5%	·
Net Margin	-21.5%	-34.0%	-50.4%	-103.4%	-79.8%	·
EBITDA Margin	-16.3%	-27.1%	-41.5%	-89.6%	-52.5%	·
ROA	-21.4%	-26.8%	-29.7%	-38.0%	-38.1%	·
ROE	-111.6%	-304.3%	-178.1%	-120.4%	-46.5%	·

Liquidity & Solvency 5

Metric	2025	2024	2023	2022	2021	2020
Current Ratio	5.3	5.4	5.7	8.9	14.3	·
Quick Ratio	4.3	4.3	4.9	7.7	13.2	·
Debt / Equity	3.1	7.4	2.8	1.5	0.7	·
LT Debt / Equity	3.1	7.4	2.8	1.5	0.7	·
Interest Coverage	·	·	-3.2	-5.4	-3.2	·

Efficiency 3

Metric	2025	2024	2023	2022	2021	2020
Asset Turnover	1.0	0.8	0.6	0.4	0.5	·
Inventory Turnover	1.5	1.7	1.7	1.5	1.6	·
Receivables Turnover	7.3	6.4	6.6	6.2	5.8	·

Per Share 6

Metric	2025	2024	2023	2022	2021	2020
Book Value / Share	$0.57	$0.27	$0.74	$1.39	$3.01	·
Revenue / Share	$3.06	$2.74	$2.53	$1.85	$2.72	·
Cash Flow / Share	$-0.34	$-0.62	$-0.76	$-1.50	$-1.48	·
Cash / Share	$0.65	$0.45	$0.65	$0.26	$0.78	·
Dividend / Share	$0.00	$0.00	$0.00	·	·	·
EPS (TTM)	$-0.66	$-0.93	$-1.27	$-1.91	$-2.17	·

Growth Rates 3

Metric	2025	2024	2023	2022	2021	2020
Revenue YoY	25.1%	22.1%	43.7%	0.75%	9.8%	·
Revenue CAGR 3Y	30.0%	20.9%	16.7%	·	·	·
Revenue CAGR 5Y	19.4%	·	·	·	·	·

Valuation (TTM) 14

Metric	2025	2024	2023	2022	2021	2020
Revenue TTM	$100M	$80M	$65M	$46M	$45M	·
Net Income TTM	$-21M	$-27M	$-33M	$-47M	$-36M	·
Market Cap	$518M	$337M	$287M	$37M	$246M	·
Enterprise Value	$516M	$344M	$277M	$13M	$181M	·
P/E	-23.4	-12.0	-8.1	-0.8	-4.6	·
P/S	5.2	4.2	4.4	0.8	5.5	·
P/B	27.2	42.1	13.9	1.1	3.4	·
P / Tangible Book	27.2	42.1	13.9	1.1	3.4	·
P / Cash Flow	-47.1	-18.8	-14.6	-1.0	-10.0	·
P / FCF	-45.7	-18.5	-14.4	-1.0	-9.9	·
EV / EBITDA	-31.6	-15.9	-10.2	-0.3	-7.6	·
EV / FCF	-45.5	-18.8	-14.0	-0.3	-7.2	·
EV / Revenue	5.2	4.3	4.2	0.3	4.0	·
Earnings Yield	-4.3%	-8.3%	-12.3%	-128.2%	-21.5%	·

Income Statement 17

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$23M	$22M	$27M	$27M	$20M	$23M	$21M	$21M	$19M	$18M	$18M	$16M	$17M	$14M	$13M	$11M
Cost of Revenue	$4M	$4M	$6M	$6M	$3M	$5M	$5M	$6M	$5M	$5M	$4M	$4M	$5M	$4M	$4M	$3M
Gross Profit	$19M	$18M	$21M	$21M	$16M	$17M	$16M	$15M	$14M	$13M	$14M	$12M	$12M	$10M	$9M	$8M
R&D Expense	$7M	$7M	$7M	$7M	$7M	$7M	$6M	$6M	$6M	$6M	$5M	$5M	$5M	$5M	$5M	$6M
SG&A Expense	$5M	$5M	$-7M	$5M	$6M	$4M	$-6M	$4M	$5M	$15M	$13M	$13M	$14M	$13M	$14M	$13M
Operating Expenses	$24M	$24M	$22M	$24M	$24M	$22M	$20M	$20M	$20M	$21M	$19M	$18M	$20M	$19M	$19M	$18M
Operating Income	$-5M	$-6M	$-2M	$-3M	$-8M	$-5M	$-4M	$-4M	$-6M	$-8M	$-5M	$-6M	$-8M	$-8M	$-10M	$-10M
Interest Expense	·	·	·	·	·	·	·	·	·	$2M	·	$2M	$2M	$2M	$2M	$2M
Interest Income	$523.0K	$565.0K	$638.0K	$667.0K	$718.0K	$793.0K	$681.0K	$754.0K	$762.0K	$827.0K	$822.0K	$769.0K	$733.0K	$726.0K	$800.0K	$423.0K
Other Non-op	$-41.0K	$-165.0K	$0	$82.0K	$-486.0K	$-82.0K	$-86.0K	$219.0K	$120.0K	$51.0K	$265.0K	$115.0K	$122.0K	$-817.0K	$-146.0K	$-103.0K
Income Tax	·	$0	$0	$0	$0	$0	·	$0	$0	$0	·	$0	$0	$0	·	$0
Net Income	$-6M	$-7M	$-3M	$-3M	$-9M	$-7M	$-5M	$-5M	$-8M	$-9M	$-6M	$-7M	$-9M	$-10M	$-11M	$-12M
EPS (Basic)	$-0.18	$-0.20	$-0.08	$-0.11	$-0.26	$-0.21	$-0.16	$-0.19	$-0.26	$-0.32	$-0.22	$-0.28	$-0.36	$-0.41	$-0.44	$-0.48
EPS (Diluted)	$-0.18	$-0.20	$-0.08	$-0.11	$-0.26	$-0.21	$-0.16	$-0.19	$-0.26	$-0.32	$-0.22	$-0.28	$-0.36	$-0.41	$-0.44	$-0.48
Shares (Basic)	34,104,430	33,716,813	·	33,134,606	32,863,031	31,480,911	·	29,444,625	28,853,216	28,285,176	·	26,017,329	25,472,526	25,097,262	·	24,728,701
Shares (Diluted)	34,104,430	33,716,813	·	33,134,606	32,863,031	31,480,911	·	29,444,625	28,853,216	28,285,176	·	26,017,329	25,472,526	25,097,262	·	24,728,701
EBITDA	$-5M	$-6M	·	$-3M	$-7M	$-5M	·	$-4M	$-6M	$-8M	·	$-6M	$-8M	$-8M	·	$-10M

Balance Sheet 24

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$13M	$15M	$22M	$21M	$23M	$27M	$13M	$15M	$13M	$13M	$18M	$10M	$8M	$7M	$7M	$6M
Short-term Investments	$39M	$39M	$39M	$39M	$39M	$39M	$39M	$41M	$43M	$46M	$48M	$52M	$56M	$61M	$71M	·
Receivables	$15M	$15M	$15M	$15M	$14M	$15M	$13M	$12M	$11M	$12M	$12M	$11M	$11M	$9M	$7M	$8M
Inventory	$18M	$17M	$17M	$18M	$16M	$14M	$13M	$12M	$11M	$11M	$11M	$10M	$10M	$11M	$10M	$9M
Prepaid Expense	$1M	$2M	$1M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$3M	$2M	$2M	$3M	$3M	$3M
Current Assets	$86M	$87M	$94M	$95M	$94M	$97M	$81M	$83M	$80M	$84M	$93M	$84M	$87M	$90M	$98M	$104M
PP&E (Net)	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$998.0K	$1M	$1M	$949.0K	$976.0K	$1M	$1M	$894.0K
PP&E (Gross)	$10M	$10M	$9M	$9M	$9M	$9M	$9M	$9M	$9M	$9M	$9M	$10M	$10M	$10M	$10M	$10M
Accum. Depreciation	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$9M	$9M	$9M	$9M	$9M
Other Non-current Assets	$98.0K	$106.0K	$113.0K	$120.0K	$87.0K	$15.0K	$15.0K	$15.0K	$15.0K	$15.0K	$15.0K	$15.0K	$21.0K	$21.0K	$21.0K	$21.0K
Total Assets	$97M	$99M	$106M	$107M	$106M	$110M	$95M	$96M	$94M	$99M	$108M	$99M	$102M	$106M	$114M	$120M
Accounts Payable	$4M	$5M	$2M	$5M	$5M	$4M	$3M	$2M	$2M	$3M	$2M	$1M	$2M	$2M	$2M	$1M
Accrued Liabilities	$11M	$9M	$13M	$12M	$10M	$8M	$10M	$10M	$8M	$7M	$11M	$10M	$8M	$7M	$7M	$8M
Current Liabilities	$17M	$16M	$18M	$20M	$17M	$15M	$15M	$15M	$13M	$13M	$16M	$13M	$12M	$10M	$11M	$9M
Capital Leases	$9M	$9M	$10M	$10M	$11M	$11M	$12M	$12M	$13M	$13M	$14M	$14M	$15M	$15M	$15M	$16M
Total Liabilities	$85M	$84M	$87M	$89M	$87M	$86M	$87M	$86M	$85M	$85M	$87M	$83M	$81M	$79M	$79M	$77M
Total Debt	$59M	$59M	·	$59M	$59M	$60M	·	$59M	$59M	$58M	·	$56M	$55M	$54M	·	$52M
Common Stock	$34.0K	$34.0K	$34.0K	$33.0K	$33.0K	$33.0K	$30.0K	$30.0K	$29.0K	$29.0K	$28.0K	$26.0K	$26.0K	$25.0K	$25.0K	$25.0K
Paid-in Capital	$577M	$574M	$571M	$568M	$566M	$562M	$539M	$535M	$530M	$527M	$524M	$514M	$512M	$509M	$507M	$504M
Retained Earnings	$-565M	$-559M	$-552M	$-550M	$-546M	$-538M	$-531M	$-526M	$-520M	$-513M	$-504M	$-498M	$-490M	$-481M	$-471M	$-460M
AOCI	·	·	·	·	·	·	·	·	·	·	·	$0	$0	$0	$-1M	$-1M
Stockholders' Equity	$12M	$14M	$19M	$19M	$19M	$24M	$8M	$10M	$10M	$14M	$21M	$16M	$21M	$27M	$35M	$43M
Liabilities + Equity	$97M	$99M	$106M	$107M	$106M	$110M	$95M	$96M	$94M	$99M	$108M	$99M	$102M	$106M	$114M	$120M
Shares Outstanding	34,282,567	33,909,408	33,574,759	33,280,887	33,044,371	32,751,240	30,145,039	29,777,966	29,139,206	28,717,452	27,823,465	26,244,935	25,816,929	25,352,204	25,045,751	24,864,119

Cash Flow 9

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Stock-based Comp	$2M	$2M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$2M	$2M	$3M	$2M	$2M	$2M
Operating Cash Flow	$-4M	$-6M	$506.0K	$-2M	$-2M	$-7M	$-5M	$-2M	$-4M	$-8M	$-3M	$-2M	$-4M	$-10M	$-8M	$-7M
CapEx	$125.0K	$117.0K	$97.0K	$30.0K	$168.0K	$37.0K	$39.0K	$100.0K	$63.0K	$104.0K	$32.0K	$9.0K	$0	$132.0K	$102.0K	$31.0K
Investing Cash Flow	$-125.0K	$-117.0K	$-97.0K	$-30.0K	$-168.0K	$-37.0K	$2M	$1M	$3M	$2M	$3M	$4M	$5M	$10M	$9M	$7M
Stock Repurchased	$0	$0	$0	$0	$0	$50M	$0	$0	$0	$0	·	·	·	·	·	·
Net Stock Activity	·	$0	·	·	·	$-50M	·	·	·	·	·	·	·	·	·	·
Financing Cash Flow	$1M	$-166.0K	$635.0K	$-235.0K	$-2M	$21M	$848.0K	$3M	$509.0K	$72.0K	$8M	$-27.0K	$195.0K	$-255.0K	$-138.0K	$-8.0K
Net Change in Cash	$-3M	$-6M	$1M	$-2M	$-4M	$14M	$-2M	$3M	$-154.0K	$-5M	$8M	$2M	$1M	$115.0K	$917.0K	$-14.0K
Free Cash Flow	·	$-6M	·	·	·	$-8M	·	·	·	$-8M	·	·	·	$-10M	·	·

Profitability 6

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Gross Margin	82.8%	81.8%	·	77.4%	77.1%	77.0%	·	73.2%	73.4%	73.6%	·	74.5%	72.5%	71.7%	·	71.4%
Operating Margin	-22.5%	-25.2%	·	-9.5%	-29.0%	-22.9%	·	-20.2%	-32.4%	-41.6%	·	-36.2%	-47.6%	-57.5%	·	-91.4%
Net Margin	-27.2%	-30.3%	·	-12.8%	-36.8%	-29.2%	·	-25.9%	-39.0%	-49.2%	·	-44.2%	-55.3%	-71.7%	·	-105.6%
EBITDA Margin	-22.5%	-25.2%	·	-9.5%	-29.0%	-22.9%	·	-20.2%	-32.4%	-41.6%	·	-36.2%	-47.6%	-57.5%	·	-91.4%
ROA	-6.1%	-6.4%	·	-3.4%	-8.6%	-6.3%	·	-5.6%	-7.6%	-8.7%	·	-6.6%	-8.3%	-8.8%	·	-9.0%
ROE	-39.6%	-34.5%	·	-24.7%	-59.0%	-34.1%	·	-41.6%	-48.3%	-42.7%	·	-24.3%	-24.6%	-23.0%	·	-18.8%

Liquidity & Solvency 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio	4.9	5.4	·	4.9	5.5	6.6	·	5.6	6.4	6.4	·	6.6	7.5	9.1	·	11.1
Quick Ratio	3.8	4.3	·	3.8	4.4	5.6	·	4.6	5.3	5.4	·	5.7	6.5	7.8	·	1.4
Debt / Equity	5.0	4.1	·	3.2	3.0	2.5	·	6.0	6.0	4.0	·	3.4	2.6	2.0	·	1.2
LT Debt / Equity	5.0	4.1	·	3.2	3.0	2.5	·	6.0	6.0	4.0	·	3.4	2.6	2.0	·	1.2
Interest Coverage	·	·	·	·	·	·	·	·	·	-3.3	·	-2.7	-3.7	-4.2	·	-5.4

Efficiency 3

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover	0.2	0.2	·	0.3	0.2	0.2	·	0.2	0.2	0.2	·	0.1	0.1	0.1	·	0.1
Inventory Turnover	0.2	0.3	·	0.4	0.4	0.4	·	0.5	0.5	0.4	·	0.5	0.5	0.4	·	0.4
Receivables Turnover	1.6	1.5	·	2.1	1.9	1.7	·	1.8	1.7	1.7	·	1.7	1.7	1.6	·	1.5

Per Share 6

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$0.35	$0.43	·	$0.56	$0.59	$0.74	·	$0.33	$0.34	$0.50	·	$0.62	$0.82	$1.08	·	$1.75
Revenue / Share	$0.67	$0.65	·	$0.83	$0.72	$0.72	·	$0.72	$0.67	$0.64	·	$0.63	$0.65	$0.58	·	$0.45
Cash Flow / Share	·	$-0.17	·	·	·	$-0.24	·	·	·	$-0.27	·	·	·	$-0.39	·	·
Cash / Share	$0.37	$0.44	·	$0.62	$0.69	$0.82	·	$0.52	$0.44	$0.45	·	$0.37	$0.30	$0.27	·	$0.23
Dividend / Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	·	·	·	·	·	·	·	·	·	·
EPS (TTM)	$-0.57	$-0.65	·	$-0.74	$-0.82	$-0.82	·	$-0.99	$-1.08	$-1.18	·	$-1.49	$-1.69	$-1.85	·	$29.91

Valuation (TTM) 11

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$99M	$96M	·	$91M	$85M	$84M	·	$76M	$72M	$69M	·	$60M	$55M	$49M	·	$44M
Net Income TTM	$-19M	$-22M	·	$-24M	$-26M	$-25M	·	$-28M	$-30M	$-32M	·	$-38M	$-42M	$-46M	·	$-47M
Market Cap	$545M	$446M	·	$343M	$368M	$403M	·	$208M	$220M	$379M	·	$255M	$116M	$118M	·	$93M
Enterprise Value	$552M	$451M	·	$342M	$365M	$396M	·	$210M	$224M	$378M	·	$250M	$107M	$104M	·	$140M
P/E	-27.9	-20.2	·	-13.9	-13.6	-15.0	·	-7.0	-7.0	-11.2	·	-6.5	-2.7	-2.5	·	0.1
P/S	5.5	4.7	·	3.8	4.4	4.8	·	2.7	3.1	5.5	·	4.2	2.1	2.4	·	2.1
P/B	45.8	30.9	·	18.5	18.9	16.6	·	21.1	22.3	26.4	·	15.6	5.5	4.3	·	2.1
P / Tangible Book	45.8	30.9	·	18.5	18.9	16.6	·	21.1	22.3	26.4	·	15.6	5.5	4.3	·	2.1
P / Cash Flow	·	-75.6	·	·	·	-53.8	·	·	·	-50.4	·	·	·	-12.1	·	·
EV / Revenue	5.6	4.7	·	3.8	4.3	4.7	·	2.7	3.1	5.5	·	4.2	2.0	2.1	·	3.2
Earnings Yield	-3.6%	-4.9%	·	-7.2%	-7.4%	-6.7%	·	-14.2%	-14.3%	-8.9%	·	-15.3%	-37.6%	-39.9%	·	797.6%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$100M	$80M	$65M	$46M	$45M
Gross Margin %	77.2%	73.9%	73.6%	71.4%	74.0%
Operating Margin %	-16.3%	-27.1%	-41.5%	-89.6%	-52.5%
Net Income	$-21M	$-27M	$-33M	$-47M	$-36M
Diluted EPS	$-0.66	$-0.93	$-1.27	$-1.91	$-2.17

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Debt / Equity	3.1	7.4	2.8	1.5	0.7
Current Ratio	5.3	5.4	5.7	8.9	14.3
Quick Ratio	4.3	4.3	4.9	7.7	13.2

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$-11M	$-18M	$-20M	$-37M	$-25M

Institutional owners (13F) 117 filers · $464.2M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 117

Value held $464.2M

New positions 19

Exited positions 18

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
19 (-10 vs prior Q)	18 (+8 vs prior Q)	47 (+9 vs prior Q)	35 (0 vs prior Q)	+120K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
Polar Capital Holdings Plc	$52,406,873	3,298,104	11.29%	Shares
Soleus Capital Management, L.P.	$46,257,729	2,911,122	9.96%	Shares
First Light Asset Management, LLC	$45,463,944	2,861,167	9.79%	Shares
MORGAN STANLEY	$42,178,273	2,654,391	9.09%	Shares
BlackRock, Inc.	$39,369,112	2,477,603	8.48%	Shares
ORBIMED ADVISORS LLC	$23,916,436	1,505,125	5.15%	Shares
Driehaus Capital Management LLC	$22,999,043	1,447,391	4.95%	Shares
VANGUARD GROUP INC	$22,885,600	1,482,228	4.93%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$19,498,174	1,227,072	4.20%	Shares
DEUTSCHE BANK AG\	$14,919,423	938,919	3.21%	Shares
ARMISTICE CAPITAL, LLC	$10,995,880	692,000	2.37%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$10,589,998	666,300	2.28%	Shares
Kent Lake PR LLC	$10,310,000	1,000,000	2.22%	Shares
KOTLER KEVIN	$9,749,866	631,468	2.10%	Shares
FMR LLC	$8,815,311	554,771	1.90%	Shares
STATE STREET CORP	$8,741,597	550,132	1.88%	Shares
SILVERCREST ASSET MANAGEMENT GROUP LLC	$5,468,130	344,124	1.18%	Shares
NORTHERN TRUST CORP	$4,131,798	260,025	0.89%	Shares
Qube Research & Technologies Ltd	$3,515,456	221,237	0.76%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$3,501,695	220,371	0.75%	Shares
Palumbo Wealth Management LLC	$3,324,173	209,199	0.72%	Shares
ESSEX INVESTMENT MANAGEMENT CO LLC	$3,316,291	208,703	0.71%	Shares
ALGERT GLOBAL LLC	$2,936,059	184,774	0.63%	Shares
VANGUARD FIDUCIARY TRUST CO	$2,900,465	182,534	0.62%	Shares
JPMORGAN CHASE & CO	$2,864,831	173,311	0.62%	Shares
HighMark Wealth Management LLC	$2,590,070	163,000	0.56%	Shares
Russell Investments Group, Ltd.	$2,576,783	162,164	0.56%	Shares
D. E. Shaw & Co., Inc.	$2,559,577	161,081	0.55%	Shares
GOLDMAN SACHS GROUP INC	$2,376,604	149,566	0.51%	Shares
CITADEL ADVISORS LLC	$2,046,632	128,800	0.44%	Shares
LAZARD ASSET MANAGEMENT LLC	$2,029,598	127,728	0.44%	Shares
PANAGORA ASSET MANAGEMENT INC	$1,812,398	114,059	0.39%	Shares
RENAISSANCE TECHNOLOGIES LLC	$1,774,897	111,699	0.38%	Shares
TUDOR INVESTMENT CORP ET AL	$1,745,898	109,874	0.38%	Shares
Nuveen, LLC	$1,581,023	99,498	0.34%	Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	$1,506,372	94,800	0.32%	Shares
BNP PARIBAS FINANCIAL MARKETS	$1,393,188	87,677	0.30%	Shares
Man Group plc	$1,335,920	84,073	0.29%	Shares
NORGES BANK	$1,269,611	79,900	0.27%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$1,236,735	77,831	0.27%	Shares
Legato Capital Management LLC	$1,117,607	70,334	0.24%	Shares
SEI INVESTMENTS CO	$987,993	62,177	0.21%	Shares
Bank of New York Mellon Corp	$921,255	57,977	0.20%	Shares
TWO SIGMA ADVISERS, LP	$788,984	51,100	0.17%	Shares
Informed Momentum Co LLC	$630,134	39,656	0.14%	Shares
AQR CAPITAL MANAGEMENT LLC	$570,769	35,920	0.12%	Shares
JANE STREET GROUP, LLC	$547,220	34,438	0.12%	Shares
RHUMBLINE ADVISERS	$503,131	31,664	0.11%	Shares
BARCLAYS PLC	$492,765	31,011	0.11%	Shares
MILLENNIUM MANAGEMENT LLC	$486,536	30,619	0.10%	Shares

Show all 117 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
Accelmed Partners II LP, Accelmed Partners II GP, L.P., Accelmed Partners II, LLC, Uri Geiger ×2 filings	Nov. 23, 2022	·	Initial filing	·	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 17 insiders · 6 officers · 11 directors

19

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Joel Becker	CHIEF EXECUTIVE OFFICER	Sept. 3, 2026 F	138,000	0	$0
Michael Favet	Chief Executive Officer	Feb. 21, 2023 A	407,080	0	$0
Patrick F. Williams	Chief Financial Officer	Sept. 20, 2026 F	67,508	0	$0
Rebecca Kuhn	CHIEF FINANCIAL OFFICER	June 3, 2025 F	131,613	0	$0
Martha Morrell	CHIEF MEDICAL OFFICER	Sept. 24, 2026 F	51,357	1	$-399,250
Irina Ridley	Chief Legal Officer/Secretary	Feb. 20, 2023 A	141,139	0	$0
Rakhi Kumar	Director	June 19, 2026 A	23,039	0	$0
Uri Geiger	Director	June 19, 2026 A	18,537	0	$0
Frank M Fischer	Director	June 19, 2026 A	599,534	0	$0
Renee Ryan	Director	June 5, 2026 A	2,890	0	$0
Lisa Andrade	Director	June 5, 2026 A	2,890	0	$0
Scott R Huennekens	Director	June 5, 2026 A	2,890	0	$0
Joseph Lacob	Director	March 20, 2026 A	14,754	0	$0
Greg Shaw Garfield	Director	June 13, 2022 A	5,614,384	0	$0
Evan Norton	Director	April 21, 2021 A	4,042,657	0	$0
KCK LTD.	10% owner	Feb. 20, 2025 S	0	0	$0
Accelmed Partners II L.P.	10% owner	Nov. 22, 2022 P	4,432,948	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 11 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
IBRN · iShares Trust	0.38%	2,057 SH	Sept. 11, 2026	Daily
IWC · iShares Trust	0.09%	89,476 SH	Sept. 11, 2026	Daily
IWO · iShares Trust	0.02%	248,901 SH	Sept. 11, 2026	Daily
VTWG · VANGUARD SCOTTSDALE FUNDS	0.02%	28,462 SH	Aug. 19, 2026	Daily
IWM · iShares Trust	0.01%	676,027 SH	Sept. 11, 2026	Daily
RSSL · Global X Funds	0.01%	12,674 NS	July 31, 2026	N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS	0.01%	152,437 SH	Aug. 19, 2026	Daily
IWV · iShares Trust	0.00%	11,385 SH	Sept. 3, 2026	Daily
VXF · VANGUARD INDEX FUNDS	0.00%	290,278 SH	Aug. 19, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.00%	908,479 SH	Aug. 19, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	1,828 SH	Aug. 19, 2026	Daily

NPCE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 15 analysts BUY

Median target $20.00 +57.5%

4 26.7% Strong Buy

10 66.7% Buy

1 6.7% Hold

0 0.0% Sell

0 0.0% Strong Sell

12-Month Price Target

10 analysts · 2026-09-27

Mean target $20.00 +57.5%

← Below all targets Current price $12.70

Low$18.00 Mean$20.00 High$22.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
NPCE	$518M	-23.4	25.1%	-21.5%	-111.6%	77.2%
DCTH	$350M	144.3	129.1%	3.2%	2.5%	86.2%
SENS	$228M	-3.3	56.9%	-196.0%	-88.7%	44.7%
TCMD	$651M	35.4	12.5%	5.8%	9.2%	75.9%
SGHT	$424M	-10.7	-3.1%	-49.7%	-57.4%	86.2%
SI	$295M	-3.1	49.6%	-85.3%	-129.1%	76.5%
CARL	$329M	-5.8	85.9%	-58.7%	-375.2%	75.3%
OFIX	$604M	-6.5	2.9%	-11.2%	-20.3%	68.8%
OBIO	$237M	-3.7	1169.2%	-157.4%	-195.7%	·
CLPT	$402M	-15.2	17.8%	-69.1%	-106.9%	61.4%
ABT	$250.18B	33.7	5.7%	14.7%	13.1%	·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

NPCE Neuropace, Inc. - Common Stock