Friday 6 November 2026 Export ECOR’s income statement to Excel — free account

electroCore, Inc.

ECOR Healthcare Medical Devices

electroCore, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $32.0 million, up 27.2% from fiscal 2024.

Revenue: +11.5%
EPS: +67.5%
Free cash flow: −69.1%
Total debt: +0.86%

Quarter to September 2026, against a year earlier

7.80 1.00 −11.36%

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Market cap: $79.3M
P/E: 0.0×
Fwd P/E: −5.5×
Dividend yield: —
F-score: 3/9
Altman Z: −13.54
Beneish M: −4.52
Dividend safety: n/a

Overview

Insider Decisions last twelve months

Bought, $m 0.21

Sold, $m 0.93

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	1	—	—	—	—	1	—	—	1	2	—	—
Sell	1	—	—	—	2	2	—	—	1	—	—	—

Insider Ownership 35.67%

Capital & Financial Ratios $m

Size

Market Cap 79.34

Revenue ttm 37.97

Net income ttm (12.70)

Free cash flow ttm (10.89)

Net debt Q 6.58

Valuation

P/E 0.00

Forward P/E (5.47)

Price / sales 2.14

Forward P/S Powerpack

Price / FCF 0.00

Price / book 0.00

Financial health

Current ratio Q 1.34

Debt / equity Q (2.62)

Interest coverage Q (4.21)

Growth

Revenue growth Q +11.52%

Operating income growth Q +46.05%

EPS, this year +23.30%

EPS, next year A +72.10%

Revenue, next year A +30.87%

EPS, past 5 yrs —

EPS, next 5 yrs A +68.82%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 22.87%

10-year low 10-year high

EV/Sales against its own 10 years 47.25%

10-year low 10-year high

Dividends

Yield: —
Annual rate: —
Payout ratio: —

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	11	12	12	—
Receivables	1	1	1	2
Inventory	2	2	2	4
Other	—	—	—	—
	14	16	16	14

	2023	2024	2025	Q'26
Payables	2	2	3	3
ST’ Debt	—	—	—	—
Other	—	—	—	—
	8	9	11	11

Compound Annual Growth %

	10y	5y	3y
Sales	—	55.74%	55.06%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	0.00%	0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.26 Actual −0.13

−0.66 −0.51 −0.36 −0.21 −0.06

Q4 FY25 Beat +0.01

Q1 FY26 Met 0.00

Q2 FY26 Beat +0.08

Q3 FY26 Beat +0.13

Q4 FY26 — Mar 18

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	−0.35	−0.34	Beat by 0.01
Q1 FY26	−0.59	−0.59	Met by 0.00
Q2 FY26	−0.41	−0.33	Beat by 0.08
Q3 FY26	−0.26	−0.13	Beat by 0.13
Q4 FY26	−0.21	—	Reports 18 March 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.59)	(0.33)	(0.13)	—	—
’25	(0.47)	(0.44)	(0.40)	(0.34)	(1.65)
’24	(0.53)	(0.38)	(0.31)	(0.40)	(1.59)
’23	(1.24)	(1.03)	(0.68)	(0.61)	(3.42)
’22	(1.20)	(1.20)	(1.20)	(1.22)	(4.69)
’21	(1.65)	(0.90)	(0.90)	(1.05)	(4.35)
’20	(4.05)	(1.95)	(1.50)	(2.10)	(9.00)

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	10	9	10	—	—
’25	7	7	9	9	32
’24	5	6	7	7	25
’23	3	4	5	5	16
’22	2	2	2	3	9
’21	1	1	1	1	5
’20	1	1	1	1	3

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(3)	(4)	(3)	—	—
’25	(4)	(1)	(2)	(2)	(8)
’24	(3)	(2)	(1)	(1)	(7)
’23	(6)	(3)	(2)	(3)	(15)
’22	(5)	(3)	(5)	(4)	(17)
’21	(4)	(2)	(3)	(4)	(14)
’20	(8)	(4)	(4)	(4)	(20)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(3)	(4)	(3)	—	—
’25	(4)	(1)	(2)	(2)	(8)
’24	(3)	(2)	(1)	(1)	(7)
’23	(6)	(3)	(2)	(3)	(15)
’22	(5)	(3)	(5)	(4)	(17)
’21	(4)	(2)	(3)	(4)	(14)
’20	(8)	(4)	(4)	(4)	(20)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Sep ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	0	1	1	2	3	5	9	16	25	32	38		+71.2%	42	54	69	+29.2%
	Gross margin, %	51.32	36.09	41.71	51.60	50.30	74.59	81.19	82.51	84.97	86.75	87.67		+35.4 pt	Powerpack electroCore, Inc.’s next three years, line by line Analysts expect revenue to grow 29.2% a year to 2028 — slower than the 71.2% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	(16)	(36)	(56)	(45)	(25)	(18)	(23)	(19)	(12)	(14)	(13)		(1.4%)
	EBT margin, %	(6,210.74)	(4,439.78)	(5,615.61)	(1,888.06)	(706.04)	(331.48)	(262.95)	(118.65)	(47.57)	(43.59)	(34.50)		+6,167.2 pt
	Net income	(16)	(36)	(56)	(45)	(24)	(17)	(22)	(19)	(12)	(14)	(13)		(1.3%)
Per share, $
Per share, $	Revenue	0.03	0.00	0.51	1.22	1.34	1.38	1.82	2.91	3.37	3.78	0.00		+74.4%
	Earnings	(1.57)	(1.27)	(28.57)	(23.09)	(9.00)	(4.35)	(4.69)	(3.42)	(1.59)	(1.65)	(1.39)		+0.5%
	Cash flow	(1.32)	0.00	(24.14)	(23.00)	(7.71)	(3.45)	(3.52)	(2.66)	(0.93)	(0.97)	0.00		(3.4%)
	Capex	0.00	0.00	(0.14)	(0.04)	0.00	0.00	0.00	(0.04)	0.00	(0.01)	0.00		n/m
	Free cash flow	(1.32)	0.00	(24.28)	(23.03)	(7.71)	(3.45)	(3.52)	(2.70)	(0.93)	(0.97)	0.00		(3.3%)
	Book value	(0.75)	0.00	33.91	12.71	9.09	9.29	3.61	1.35	1.01	(0.20)	0.00		(13.6%)
	Shares, m	10	0	2	2	3	4	5	6	7	8	9		(1.9%)
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00		0.0
	P/S	0.00	0.00	184.57	19.55	17.41	6.33	2.19	2.05	4.82	1.19	2.14		23.8
	P/B	0.00	0.00	2.77	1.88	2.57	0.94	1.10	4.42	16.08	0.00	0.00		3.0
	EV/Sales	0.00	0.00	119.69	10.33	11.54	0.10	0.18	1.43	4.36	1.04	2.06		14.9
	EV/FCF	(0.11)	(0.11)	(2.51)	(0.55)	(2.01)	(0.04)	(0.09)	(1.55)	(15.34)	(4.02)	(7.16)		(2.6)
Cash, $m
Cash, $m	Operating cash flow	(13)	(25)	(47)	(45)	(20)	(14)	(17)	(15)	(7)	(8)	(11)		(5.2%)
	Capex	—	0	0	0	—	—	—	0	—	0	0		(9.9%)
	Free cash flow	(13)	(25)	(47)	(45)	(20)	(14)	(17)	(15)	(7)	(8)	(11)		(5.1%)
Balance, $m
Balance, $m	Working capital	(4)	33	66	17	19	32	14	6	7	4	4		n/m
	Net debt	4	(35)	(69)	(23)	(22)	(34)	(17)	(11)	(12)	(5)	7		n/m
	Shareholders’ equity	(8)	33	66	25	24	37	17	7	8	(2)	(3)		(15.2%)
Returns, %
Returns, %	ROA	(78.97)	0.00	(61.56)	(82.87)	(70.20)	(46.32)	(65.58)	(92.19)	(65.00)	(71.37)	(65.70)		+7.6 pt
	ROIC	0.00	0.00	0.00	(1,275.76)	(731.55)	(471.20)	0.00	0.00	0.00	0.00	(193.07)		0.0 pt
	ROE	20.83	0.00	298.10	(99.14)	(96.87)	(57.11)	(82.49)	(153.57)	(158.63)	(478.70)	709.52		(499.5) pt
People
People	Employees	—	64	91	51	45	52	62	68	73	83	—		+3.3%
	Revenue/emp, $m	0.00	0.01	0.01	0.05	0.08	0.10	0.14	0.24	0.34	0.39	—		n/m

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ZOMDF Zomedica Corp.	$95.4M	— (loss-making)	— (loss-making)	+22.29% (above 0%: growing)	n/m	+32.51% (above 0%: growing)	61.06%	(34.60%)	Compare
NYXH Nyxoah SA	$82.6M	— (loss-making)	— (loss-making)	+486.62% (above 0%: growing)	n/m	+4.01% (above 0%: growing)	59.73%	(268.25%)	Compare
SERA Sera Prognostics, Inc.	$82.1M	— (loss-making)	— (loss-making)	+162.50% (above 0%: growing)	n/m	−12.79% (below 0%: shrinking)	0.00%	(21,159.52%)	Compare
ECOR electroCore, Inc.	$79.3M	— (loss-making)	— (loss-making)	+11.52% (above 0%: growing)	n/m	−69.10% (below 0%: shrinking)	88.47%	(16.06%)
LUCD Lucid Diagnostics Inc.	$79.3M	— (loss-making)	— (loss-making)	+26.74% (above 0%: growing)	n/m	−7.04% (below 0%: shrinking)	1.97%	(868.45%)	Compare
OM Outset Medical, Inc.	$77.0M	— (loss-making)	— (loss-making)	+14.15% (above 0%: growing)	n/m	−61.85% (below 0%: shrinking)	40.69%	(36.52%)	Compare
HYPR Hyperfine, Inc.	$72.7M	— (loss-making)	— (loss-making)	+44.81% (above 0%: growing)	n/m	+13.43% (above 0%: growing)	50.72%	(216.93%)	Compare
MBOT Microbot Medical Inc.	$71.9M	— (loss-making)	—	+1,047.62% (above 0%: growing)	n/m	−98.72% (below 0%: shrinking)	(266.80%)	(2,567.63%)	Compare
LNSR LENSAR, Inc.	$67.6M	3.9×	6.9×	+18.37% (above 0%: growing)	n/m	+96.81% (above 0%: growing)	59.27%	12.94%	Compare
Median of peers	$78.1M	—	—	+35.78%	—	−1.52%	45.70%	(242.59%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 20 July 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	1.64m	226.17k	116.32
2024	1.62m	2.69m	419.95
2023	1.28m	1.34m	154.15

Ownership

Directors and executive officers, together 7.80%

Charles S. Theofilos, M.D.; Kathryn Theofilos; and Happy Holstein Management, LLC. 9.90%

Zhang Tianyi 8.10%

Hilve Holdings Ltd. 5.70%

AMW Investment Company, Inc. 5.30%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

electroCore, Inc. (ECOR) Latest News

5 Nov

Impact 3 · 11:43 AM · The Motley Fool transcript

electroCore (ECOR) Q3 2026 Earnings Call Transcript

Impact 3 · 6:11 AM · GuruFocus.com

electroCore Inc (ECOR) (Q3 2026) Earnings Call Highlights: Record Sales, Narrowing Losses, and ...

4 Nov

Impact 3 · 8:14 PM · MarketBeat

electroCore Q3 Earnings Call Highlights

Impact 3 · 4:05 PM · GlobeNewswire

electroCore Announces Third Quarter 2026 Financial Results

29 Oct

Impact 3 · 8:00 AM · GlobeNewswire

electroCore to Announce Third Quarter September 30, 2026, Financial Results on Wednesday, November 4, 2026

28 Oct

Impact 4 · 3:04 PM · MarketBeat

electroCore Targets 2027 EBITDA Profit as VA, Quell and CIPN Opportunities Expand

Impact 4 · 8:00 AM · GlobeNewswire

electroCore, Inc. Submits 510(k) Premarket Notification to FDA Seeking Clearance of Quell® for the Treatment of Chronic Chemotherapy-Induced Peripheral Neuropathy (CIPN)

27 Oct

Impact 4 · 8:00 AM

fMRI Study Suggests Transcutaneous Cervical Vagus Nerve Stimulation (tcVNS) Accelerates Neural Processes in Visual Skill Learning

21 Oct

Impact 3 · 8:00 AM · GlobeNewswire

electroCore to Present at Planet MicroCap Toronto 2026 powered by MicroCapClub

9 Sep

Impact 3 · 8:00 AM

electroCore, Inc. Appoints Joshua Lev and Mike Fox as Co-Chief Executive Officers

2 Sep

Impact 3 · 11:03 AM · MarketBeat transcript

Ecora Resources H1 Earnings Call Highlights

6 Aug

Impact 3 · 9:03 PM · MarketBeat

electroCore Q2 Earnings Call Highlights

Impact 3 · 4:05 PM

electroCore Announces Second Quarter 2026 Financial Results

16 Jul

Impact 3 · 8:00 AM

New Review Examines Anatomical and Methodological Differences Between Auricular and Cervical Vagus Nerve Stimulation

9 Jun

Impact 3 · 8:00 AM · GlobeNewswire

Frontiers in Neuroscience Accepts Review Article Synthesizing Evidence that Cervical nVNS Activates the Vagus Nerve Without Surgery

19 May

Impact 3 · 3:02 AM · MarketBeat

electroCore Touts 30% Growth Outlook, VA Opportunity at LD Micro Conference

13 May

Impact 4 · 8:00 AM · GlobeNewswire

electroCore Announces Publication in JAMA Highlighting the Benefits of Adding Quell Electrical Nerve Stimulation to Outpatient Physical Therapy in Fibromyalgia

7 May

Impact 4 · 10:15 AM · The Motley Fool transcript

electroCore (ECOR) Q1 2026 Earnings Transcript

Impact 4 · 8:30 AM · Moby

electroCore, Inc. Q1 2026 Earnings Call Summary

6 May

Impact 4 · 6:40 PM · The Motley Fool transcript

electroCore (ECOR) Q1 2026 Earnings Transcript

Impact 4 · 4:05 PM · GlobeNewswire

electroCore Announces First Quarter 2026 Financial Results

Impact 3 · 8:07 PM · MarketBeat

electroCore Q1 Earnings Call Highlights

Impact 3 · 6:30 PM · Zacks

electroCore, Inc. (ECOR) Reports Q1 Loss, Beats Revenue Estimates

7 Apr

Impact 3 · 8:00 AM · GlobeNewswire

electroCore Announces First Patient Enrollment in Investigator-Led Study of gammaCore™ nVNS for PTSD

1 Apr

Impact 4 · 8:00 AM · GlobeNewswire

electroCore Announces Publication in Frontiers in Neuroscience Highlighting Benefits of Non-Invasive Vagus Nerve Stimulation in Patients with Mild Traumatic Brain Injury and PTSD

30 Mar

Impact 4 · 8:00 AM · GlobeNewswire

electroCore Expands Intellectual Property Portfolio

26 Mar

Impact 3 · 11:08 AM · MarketBeat

Ecora Resources H2 Earnings Call Highlights

23 Mar

Impact 4 · 9:01 PM · GuruFocus.com

electroCore Inc (ECOR) Q4 2025 Earnings Call Highlights: Record Revenue and Strategic Growth ...

19 Mar

Impact 4 · 7:37 PM · The Motley Fool transcript

electroCore (ECOR) Q4 2025 Earnings Transcript

Impact 3 · 8:12 PM · Moby

electroCore, Inc. Q4 2025 Earnings Call Summary

Insider Decisions last twelve months

Capital & Financial Ratios $m

Valuation vs history

Dividends

Assets vs Liabilities $m

Compound Annual Growth %

Earnings Trends EPS, adjusted, against the consensus

EPS $

Revenue $m

Operating Cash Flow $m

Free Cash Flow $m

Target Price Range

Recommendation Rating

Ten years at a glance Fiscal years to December

electroCore, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Pay and ownership Proxy statement filed 20 July 2026

Chief executive’s pay

Ownership

electroCore, Inc. (ECOR) Latest News

5 Nov

4 Nov

29 Oct

28 Oct

27 Oct

21 Oct

9 Sep

2 Sep

6 Aug

16 Jul

9 Jun

19 May

13 May

7 May

6 May

7 Apr

1 Apr

30 Mar

26 Mar

23 Mar

19 Mar

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