Earnings call transcript: NeurAxis falls on Q2 2026 EPS miss despite 116% revenue growth

NeurAxis' Q2 2026 earnings call revealed a loss of $0.19 per share, falling short of the expected $0.16 loss. Despite a 116% surge in revenue to $1.928 million, the medical device maker's shares dropped 6.84% to $6.40 in premarket trading. The company reported its eighth consecutive quarter of double-digit revenue growth. The IB-Stim device was cited as the driver of this growth, as it gained broader reimbursement through a Category I CPT code effective Jan.

1, 2026. Despite the earnings miss, NeurAxis disclosed strong operational progress with revenue more than doubling from the previous year. However, investors focused on the company's ongoing losses and expansion of its commercial footprint. NeurAxis remains in the early commercial phase, with plans to increase insurance coverage, improve market execution, and build its Veterans Affairs business.

CEO Brian Carrico highlighted the importance of payer access and commercial execution, while CFO Tim Henrichs noted the rise in operating expenses to support future growth. Analysts expressed interest in the company's discussions with major payers, growth expectations, and the path to profitability. Management emphasized that near-term revenue expectations remain unclear, but they anticipate Q4 to show more sequential growth.