NPCE Neuropace, Inc. - Common Stock

NASDAQ · Health Care · View on SEC EDGAR ↗

$16.30

Price · May 20, 2026

Fundamentals as of May 12, 2026

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

Price

$16.30

Market Cap

$518M

P/E (TTM)

-23.4

EPS (TTM)

$-0.66

Revenue (TTM)

$100M

Div Yield

—

ROE

-111.6%

Debt/Equity

3.1

52W Range

$8 – $20

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

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

Revenue & Net Income $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

Margins -21.5%

2021-12-31 → 2025-12-31

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

Metric

5Y trend

NPCE

Peer Median

P/E (TTM)

-23.4

376.8

P/S (TTM)

5.2

6.8

P/B

27.2

3.2

EV / EBITDA

-31.6

—

Price / FCF

-45.7

—

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

Metric

5Y trend

NPCE

Peer Median

Gross Margin

77.2%

67.3%

Operating Margin

-16.3%

—

Net Profit Margin

-21.5%

-18.0%

ROA

-21.4%

-12.8%

ROE

-111.6%

-21.5%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

NPCE

Peer Median

Debt / Equity

3.1

1.7

Current Ratio

5.3

5.6

Quick Ratio

4.3

—

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

Metric

5Y trend

NPCE

Peer Median

Revenue YoY

25.1%

—

Revenue CAGR 3Y

30.0%

—

Revenue CAGR 5Y

19.4%

—

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

Metric

5Y trend

NPCE

Peer Median

EPS (Diluted)

$-0.66

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

NPCE

Peer Median

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

BUY 14 analysts

Strong Buy 4 28.6%
Buy 9 64.3%
Hold 1 7.1%
Sell 0 0.0%
Strong Sell 0 0.0%

12-Month Price Target

8 analysts · 2026-05-17

Median $20.00

← Below all targets $16.30

Low $18.00

High $22.00

Median target $20.00 +22.7%

Mean target $20.00 +22.7%

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

Avg Surprise

0.04%

Period	EPS Actual	EPS Est	Surprise
March 31, 2026	$-0.20	$-0.23	0.03%
Dec. 31, 2025	$-0.08	$-0.15	0.07%
Sept. 30, 2025	$-0.11	$-0.20	0.09%
June 30, 2025	$-0.26	$-0.23	-0.03%
March 31, 2025	$-0.21	$-0.25	0.04%

Peer Comparison Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
NPCE	$518M	-23.4	25.1%	-21.5%	-111.6%	77.2%
AVR	$207M	-2.0	-29.2%	-4921.3%	-300.5%	—
CBLL	$822M	-15.0	36.1%	-60.0%	-32.6%	87.9%
SIBN	$861M	-44.8	20.2%	-9.4%	-10.9%	79.6%
TCMD	$651M	35.4	12.5%	5.8%	9.2%	75.9%
OFIX	$604M	-6.5	2.9%	-11.2%	-20.3%	68.8%
ANGO	$418M	-12.3	-3.8%	-11.6%	-18.4%	53.9%
BBNX	$1.35B	-16.8	53.9%	-73.0%	-24.9%	55.4%
ISRG	$201.11B	72.0	20.5%	28.4%	16.7%	66.0%

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

Income Statement 17

Annual Income Statement data for NPCE
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

Annual Balance Sheet data for NPCE
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	$15M	$13M	$12M	$7M	$7M	$8M
Inventory	$17M	$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

Annual Cash Flow data for NPCE
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

Annual Profitability data for NPCE
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

Annual Liquidity & Solvency data for NPCE
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

Annual Efficiency data for NPCE
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

Annual Per Share data for NPCE
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	$0	$0	·	·	·
EPS (TTM)	$-0.66	$-0.93	$-1.27	$-1.91	$-2.17	·

Growth Rates 3

Annual Growth Rates data for NPCE
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

Annual Valuation (TTM) data for NPCE
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

Quarterly Income Statement data for NPCE
Metric	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	Q2 2022
Revenue	$22M	$27M	$27M	$24M	$23M	$21M	$21M	$19M	$18M	$18M	$16M	$17M	$14M	$13M	$11M	$10M
Cost of Revenue	$4M	$6M	$6M	$5M	$5M	$5M	$6M	$5M	$5M	$4M	$4M	$5M	$4M	$4M	$3M	$3M
Gross Profit	$18M	$21M	$21M	$18M	$17M	$16M	$15M	$14M	$13M	$14M	$12M	$12M	$10M	$9M	$8M	$7M
R&D Expense	$7M	$7M	$7M	$7M	$7M	$6M	$6M	$6M	$6M	$5M	$5M	$5M	$5M	$5M	$6M	$6M
SG&A Expense	$5M	$-7M	$5M	$6M	$4M	$-6M	$4M	$5M	$15M	$13M	$13M	$14M	$13M	$14M	$13M	$13M
Operating Expenses	$24M	$22M	$24M	$25M	$22M	$20M	$20M	$20M	$21M	$19M	$18M	$20M	$19M	$19M	$18M	$18M
Operating Income	$-6M	$-2M	$-3M	$-7M	$-5M	$-4M	$-4M	$-6M	$-8M	$-5M	$-6M	$-8M	$-8M	$-10M	$-10M	$-11M
Interest Expense	·	·	·	·	·	·	·	·	$2M	·	$2M	$2M	$2M	$2M	$2M	$2M
Interest Income	$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	$221.0K
Other Non-op	$-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	$-85.0K
Income Tax	$0	$0	$0	$0	$0	·	$0	$0	$0	·	$0	$0	$0	·	$0	$0
Net Income	$-7M	$-3M	$-3M	$-9M	$-7M	$-5M	$-5M	$-8M	$-9M	$-6M	$-7M	$-9M	$-10M	$-11M	$-12M	$-13M
EPS (Basic)	$-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	$-0.52
EPS (Diluted)	$-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	$-0.52
Shares (Basic)	33,716,813	-64,756,110	33,134,606	32,863,031	31,480,911	-57,456,703	29,444,625	28,853,216	28,285,176	-50,735,304	26,017,329	25,472,526	25,097,262	-48,944,954	24,728,701	24,503,552
Shares (Diluted)	33,716,813	-64,756,110	33,134,606	32,863,031	31,480,911	-57,456,703	29,444,625	28,853,216	28,285,176	-50,735,304	26,017,329	25,472,526	25,097,262	-48,944,954	24,728,701	24,503,552
EBITDA	$-6M	·	$-3M	$-7M	$-5M	·	$-4M	$-6M	$-8M	·	$-6M	$-8M	$-8M	·	$-10M	$-11M

Balance Sheet 24

Quarterly Balance Sheet data for NPCE
Metric	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	Q2 2022
Cash & Equivalents	$15M	$22M	$21M	$23M	$27M	$13M	$15M	$13M	$13M	$18M	$10M	$8M	$7M	$7M	$6M	$6M
Short-term Investments	$39M	$39M	$39M	$39M	$39M	$39M	$41M	$43M	$46M	$48M	$52M	$56M	$61M	$71M	·	·
Receivables	$15M	$15M	$15M	$14M	$15M	$13M	$12M	$11M	$12M	$12M	$11M	$11M	$9M	$7M	$8M	$8M
Inventory	$17M	$17M	$18M	$16M	$14M	$13M	$12M	$11M	$11M	$11M	$10M	$10M	$11M	$10M	$9M	$8M
Prepaid Expense	$2M	$1M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$3M	$2M	$2M	$3M	$3M	$3M	$3M
Current Assets	$87M	$94M	$95M	$94M	$97M	$81M	$83M	$80M	$84M	$93M	$84M	$87M	$90M	$98M	$104M	$112M
PP&E (Net)	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$998.0K	$1M	$1M	$949.0K	$976.0K	$1M	$1M	$894.0K	$951.0K
PP&E (Gross)	$10M	$9M	$9M	$9M	$9M	$9M	$9M	$9M	$9M	$9M	$10M	$10M	$10M	$10M	$10M	$10M
Accum. Depreciation	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$8M	$9M	$9M	$9M	$9M	$9M	$9M
Other Non-current Assets	$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	$21.0K
Total Assets	$99M	$106M	$107M	$106M	$110M	$95M	$96M	$94M	$99M	$108M	$99M	$102M	$106M	$114M	$120M	$119M
Accounts Payable	$5M	$2M	$5M	$5M	$4M	$3M	$2M	$2M	$3M	$2M	$1M	$2M	$2M	$2M	$1M	$2M
Accrued Liabilities	$9M	$13M	$12M	$10M	$8M	$10M	$10M	$8M	$7M	$11M	$10M	$8M	$7M	$7M	$8M	$7M
Current Liabilities	$16M	$18M	$20M	$17M	$15M	$15M	$15M	$13M	$13M	$16M	$13M	$12M	$10M	$11M	$9M	$11M
Capital Leases	$9M	$10M	$10M	$11M	$11M	$12M	$12M	$13M	$13M	$14M	$14M	$15M	$15M	$15M	$16M	$3M
Total Liabilities	$84M	$87M	$89M	$87M	$86M	$87M	$86M	$85M	$85M	$87M	$83M	$81M	$79M	$79M	$77M	$66M
Total Debt	$59M	·	$59M	$59M	$60M	·	$59M	$59M	$58M	·	$56M	$55M	$54M	·	$52M	$51M
Common Stock	$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	$25.0K
Paid-in Capital	$574M	$571M	$568M	$566M	$562M	$539M	$535M	$530M	$527M	$524M	$514M	$512M	$509M	$507M	$504M	$502M
Retained Earnings	$-559M	$-552M	$-550M	$-546M	$-538M	$-531M	$-526M	$-520M	$-513M	$-504M	$-498M	$-490M	$-481M	$-471M	$-460M	$-448M
AOCI	·	·	·	·	·	·	·	·	·	·	$0	$0	$0	$-1M	$-1M	$-1M
Stockholders' Equity	$14M	$19M	$19M	$19M	$24M	$8M	$10M	$10M	$14M	$21M	$16M	$21M	$27M	$35M	$43M	$53M
Liabilities + Equity	$99M	$106M	$107M	$106M	$110M	$95M	$96M	$94M	$99M	$108M	$99M	$102M	$106M	$114M	$120M	$119M
Shares Outstanding	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	24,814,855

Cash Flow 9

Quarterly Cash Flow data for NPCE
Metric	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	Q2 2022
Stock-based Comp	$2M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$2M	$2M	$3M	$2M	$2M	$2M	$3M
Operating Cash Flow	$-6M	$506.0K	$-2M	$-2M	$-7M	$-5M	$-2M	$-4M	$-8M	$-3M	$-2M	$-4M	$-10M	$-8M	$-7M	$-11M
CapEx	$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	$164.0K
Investing Cash Flow	$-117.0K	$-97.0K	$-30.0K	$-168.0K	$-37.0K	$2M	$1M	$3M	$2M	$3M	$4M	$5M	$10M	$9M	$7M	$8M
Stock Repurchased	$0	$0	$0	$0	$50M	$0	$0	$0	$0	·	·	·	·	·	·	·
Net Stock Activity	$0	·	·	·	$-50M	·	·	·	·	·	·	·	·	·	·	·
Financing Cash Flow	$-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	$635.0K
Net Change in Cash	$-6M	$1M	$-2M	$-4M	$14M	$-2M	$3M	$-154.0K	$-5M	$8M	$2M	$1M	$115.0K	$917.0K	$-14.0K	$-2M
Free Cash Flow	$-6M	·	·	·	$-8M	·	·	·	$-8M	·	·	·	$-10M	·	·	·

Profitability 6

Quarterly Profitability data for NPCE
Metric	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	Q2 2022
Gross Margin	81.8%	·	77.4%	77.1%	77.0%	·	73.2%	73.4%	73.6%	·	74.5%	72.5%	71.7%	·	71.4%	73.2%
Operating Margin	-25.2%	·	-9.5%	-29.0%	-22.9%	·	-20.2%	-32.4%	-41.6%	·	-36.2%	-47.6%	-57.5%	·	-91.4%	-107.6%
Net Margin	-30.3%	·	-12.8%	-36.8%	-29.2%	·	-25.9%	-39.0%	-49.2%	·	-44.2%	-55.3%	-71.7%	·	-105.6%	-124.4%
EBITDA Margin	-25.2%	·	-9.5%	-29.0%	-22.9%	·	-20.2%	-32.4%	-41.6%	·	-36.2%	-47.6%	-57.5%	·	-91.4%	-107.6%
ROA	-6.4%	·	-3.4%	-8.6%	-6.3%	·	-5.6%	-7.6%	-8.7%	·	-6.6%	-8.3%	-8.8%	·	-9.0%	-9.6%
ROE	-34.5%	·	-24.7%	-59.0%	-34.1%	·	-41.6%	-48.3%	-42.7%	·	-24.3%	-24.6%	-23.0%	·	-18.8%	-17.9%

Liquidity & Solvency 5

Quarterly Liquidity & Solvency data for NPCE
Metric	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	Q2 2022
Current Ratio	5.4	·	4.9	5.5	6.6	·	5.6	6.4	6.4	·	6.6	7.5	9.1	·	11.1	9.9
Quick Ratio	4.3	·	3.8	4.4	5.6	·	4.6	5.3	5.4	·	5.7	6.5	7.8	·	1.4	1.2
Debt / Equity	4.1	·	3.2	3.0	2.5	·	6.0	6.0	4.0	·	3.4	2.6	2.0	·	1.2	1.0
LT Debt / Equity	4.1	·	3.2	3.0	2.5	·	6.0	6.0	4.0	·	3.4	2.6	2.0	·	1.2	1.0
Interest Coverage	·	·	·	·	·	·	·	·	-3.3	·	-2.7	-3.7	-4.2	·	-5.4	-5.9

Efficiency 3

Quarterly Efficiency data for NPCE
Metric	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	Q2 2022
Asset Turnover	0.2	·	0.3	0.2	0.2	·	0.2	0.2	0.2	·	0.1	0.1	0.1	·	0.1	0.1
Inventory Turnover	0.3	·	0.4	0.4	0.4	·	0.5	0.5	0.4	·	0.5	0.5	0.4	·	0.4	0.4
Receivables Turnover	1.5	·	2.1	1.9	1.7	·	1.8	1.7	1.7	·	1.7	1.7	1.6	·	1.5	1.3

Per Share 6

Quarterly Per Share data for NPCE
Metric	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	Q2 2022
Book Value / Share	$0.43	·	$0.56	$0.59	$0.74	·	$0.33	$0.34	$0.50	·	$0.62	$0.82	$1.08	·	$1.75	$2.13
Revenue / Share	$0.65	·	$0.83	$0.72	$0.72	·	$0.72	$0.67	$0.64	·	$0.63	$0.65	$0.58	·	$0.45	$0.42
Cash Flow / Share	$-0.17	·	·	·	$-0.24	·	·	·	$-0.27	·	·	·	$-0.39	·	·	·
Cash / Share	$0.44	·	$0.62	$0.69	$0.82	·	$0.52	$0.44	$0.45	·	$0.37	$0.30	$0.27	·	$0.23	$0.23
Dividend / Share	$0	$0	$0	$0	$0	·	·	·	·	·	·	·	·	·	·	·
EPS (TTM)	$-0.78	·	$-0.77	$-0.92	$-0.98	·	$-1.05	$-1.22	$-1.37	·	$-1.53	$-1.77	$-1.88	·	$-1.81	$-1.81

Valuation (TTM) 14

Quarterly Valuation (TTM) data for NPCE
Metric	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	Q2 2022
Revenue TTM	$95M	·	$94M	$86M	$81M	·	$75M	$70M	$66M	·	$59M	$52M	$47M	·	$43M	$45M
Net Income TTM	$-25M	·	$-24M	$-28M	$-28M	·	$-29M	$-33M	$-36M	·	$-39M	$-44M	$-46M	·	$-44M	$-41M
Market Cap	$446M	·	$343M	$368M	$403M	·	$208M	$220M	$379M	·	$255M	$116M	$118M	·	$93M	$123M
Enterprise Value	$451M	·	$342M	$365M	$396M	·	$210M	$224M	$378M	·	$250M	$107M	$104M	·	$140M	$168M
P/E	-16.9	·	-13.4	-12.1	-12.5	·	-6.6	-6.2	-9.6	·	-6.4	-2.5	-2.5	·	-2.1	-2.7
P/S	4.7	·	3.6	4.3	5.0	·	2.8	3.1	5.8	·	4.4	2.2	2.5	·	2.2	2.8
P/B	30.9	·	18.5	18.9	16.6	·	21.1	22.3	26.4	·	15.6	5.5	4.3	·	2.1	2.3
P / Tangible Book	30.9	·	18.5	18.9	16.6	·	21.1	22.3	26.4	·	15.6	5.5	4.3	·	2.1	2.3
P / Cash Flow	-75.6	·	·	·	-53.8	·	·	·	-50.4	·	·	·	-12.1	·	·	·
P / FCF	-74.1	·	·	·	-53.5	·	·	·	-49.7	·	·	·	-12.0	·	·	·
EV / EBITDA	-81.0	·	-131.5	-53.4	-76.9	·	-49.5	-35.9	-50.1	·	-42.0	-13.6	-12.5	·	-13.7	-15.3
EV / FCF	-74.9	·	·	·	-52.7	·	·	·	-49.5	·	·	·	-10.6	·	·	·
EV / Revenue	4.7	·	3.6	4.2	4.9	·	2.8	3.2	5.8	·	4.3	2.0	2.2	·	3.2	3.8
Earnings Yield	-5.9%	·	-7.5%	-8.3%	-8.0%	·	-15.1%	-16.1%	-10.4%	·	-15.7%	-39.4%	-40.5%	·	-48.3%	-36.6%

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

Income Statement

	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

Balance Sheet

	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

Cash Flow

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

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

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

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12-Month Price Target

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

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