Ceribell Stock Earnings Reports

Q1 2026 highlights: Revenue $26.5M, up 29% year-over-year and 7% sequentially, driven by record headband utilization and the largest quarter of net new hospital account additions (680 active hospitals, +33 net adds). Gross margin was 87%; management expects to maintain gross margins in the high-80s for 2026 (benefiting later in the year from Vietnam-sourced inventory and tariff mitigation). Strategic progress: commercial launches initiated for neonate and pediatric seizure products (pilots converting to full implementation) and activation of the first delirium pilot site; Ceribell is the first company with an FDA-cleared delirium monitoring solution and received a CMS proposed NTAP of up to $2,171 per patient (final decision due Aug 2026, effective Oct 1 if adopted). LVO stroke program has Breakthrough Device designation and clinical work is ongoing. OpEx was $43.9M (+36% YoY) reflecting commercial investments, R&D expansion and elevated IP litigation costs ($5.6M in Q1); net loss was $19.7M ($0.52/share). Management will begin reporting adjusted EBITDA (Q1 adjusted EBITDA loss $11.2M). Cash, cash equivalents and marketable securities were $141.2M as of March 31, 2026. Outlook: 2026 revenue guidance raised to $112M–$116M (growth ~26%–30% vs. 2025). Management reiterated a multi-year growth runway (core seizure market penetration <4%) and the strategic objective to establish EEG as a new vital sign.