(NPCE) Neuropace - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: NASDAQ (USA) | Market Cap: 577m USD | Total Return: 31.8% in 12m
Avg Turnover: 2.87M
Qual. Beats: 0
Rev. Trend: 99.3%
Qual. Beats: 0
Warnings
Interest Coverage Ratio -2.7 is critical
Beneish M-Score 0.81 > -1.5 - likely earnings manipulation
Altman Z'' -15.00 < 1.0 - financial distress zone
Tailwinds
Idiosyncratic Leader
NeuroPace, Inc. (NPCE) is a commercial-stage medical technology company focused on the design and sale of brain-responsive neuromodulation systems. Its primary product, the RNS System, is an implantable device that monitors brain activity and delivers targeted electrical stimulation to suppress seizures in patients with drug-resistant focal epilepsy. The company’s ecosystem includes physician-facing data platforms and remote patient monitors to facilitate longitudinal care and device programming.
The company operates within the high-growth neurostimulation sector, where proprietary data collection from implanted devices serves as a competitive moat for refining treatment algorithms. NeuroPace utilizes a medical device sales model, generating revenue through the initial sale of hardware to hospitals and recurring revenue from replacement procedures as device batteries reach end-of-life.
For a detailed breakdown of the companys financial health and valuation metrics, investors may find it useful to explore the data available on ValueRay. NeuroPace remains headquartered in Mountain View, California, and continues to expand its physician-facing software capabilities through its nSight Platform.
- RNS System adoption rates in Level 3 and 4 epilepsy centers
- Expansion into pediatric and generalized epilepsy markets through clinical trials
- Replacement cycle revenue from long-term implanted device battery life
- Medicare and private payer reimbursement coverage for neuromodulation procedures
- Operating margin improvement through reduced sales and marketing expenditure volatility
| Net Income: -21.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.09 > 0.02 and ΔFCF/TA 2.34 > 1.0 |
| NWC/Revenue: 71.14% < 20% (prev 98.18%; Δ -27.03% < -1%) |
| CFO/TA -0.10 > 3% & CFO -9.42m > Net Income -21.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 5.38 > 1.5 & < 3 |
| Outstanding Shares: last quarter (33.7m) vs 12m ago 7.10% < -2% |
| Gross Margin: 78.29% > 18% (prev 0.75%; Δ 7.75k% > 0.5%) |
| Asset Turnover: 95.20% > 50% (prev 76.50%; Δ 18.70% > 0%) |
| Interest Coverage Ratio: -2.67 > 6 (EBITDA TTM -14.9m / Interest Expense TTM 6.16m) |
| A: 0.72 (Total Current Assets 87.0m - Total Current Liabilities 16.2m) / Total Assets 98.9m |
| B: -5.65 (Retained Earnings -559.1m / Total Assets 98.9m) |
| C: -0.16 (EBIT TTM -16.4m / Avg Total Assets 104.6m) |
| D: -6.62 (Book Value of Equity -559.1m / Total Liabilities 84.4m) |
| Altman-Z'' = -21.74 = D |
| DSRI: 0.81 (Receivables 14.8m/15.4m, Revenue 99.5m/84.3m) |
| GMI: 0.96 (GM 78.29% / 74.83%) |
| AQI: 7.79 (AQ_t 0.01 / AQ_t-1 0.00) |
| SGI: 1.18 (Revenue 99.5m / 84.3m) |
| TATA: -0.12 (NI -21.6m - CFO -9.42m) / TA 98.9m) |
| Beneish M = 0.81 (Cap -4..+1) = D |
As of May 27, 2026, the stock is trading at USD 16.68 with a total of 108,585 shares traded.
Over the past week, the price has changed by +4.32%,
over one month by -3.30%,
over three months by +11.05% and
over the past year by +31.75%.
Neuropace has received a consensus analysts rating of 4.75. Therefore, it is recommended to buy NPCE.
- StrongBuy: 6
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 20 | 19.9% |
P/S = 5.7959
P/B = 39.8161
Revenue TTM = 99.5m USD
EBIT TTM = -16.4m USD
EBITDA TTM = -14.9m USD
Long Term Debt = 59.0m USD (from longTermDebt, last quarter)
Short Term Debt = 2.19m USD (from shortTermDebt, last quarter)
Debt = 81.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 11.4m
Net Debt = 27.9m USD (calculated: Debt 81.9m - CCE 54.0m)
Enterprise Value = 604.8m USD (576.9m + Debt 81.9m - CCE 54.0m)
Interest Coverage Ratio = -2.67 (Ebit TTM -16.4m / Interest Expense TTM 6.16m)
EV/FCF = -65.47x (Enterprise Value 604.8m / FCF TTM -9.24m)
FCF Yield = -1.53% (FCF TTM -9.24m / Enterprise Value 604.8m)
FCF Margin = -9.28% (FCF TTM -9.24m / Revenue TTM 99.5m)
Net Margin = -21.67% (Net Income TTM -21.6m / Revenue TTM 99.5m)
Gross Margin = 78.29% ((Revenue TTM 99.5m - Cost of Revenue TTM 21.6m) / Revenue TTM)
Gross Margin QoQ = 81.78% (prev 77.40%)
Tobins Q-Ratio = 6.12 (Enterprise Value 604.8m / Total Assets 98.9m)
Interest Expense / Debt = 7.52% (Interest Expense 6.16m / Debt 81.9m)
Taxrate = 21.0% (US default 21%)
NOPAT = -13.0m (EBIT -16.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.21 (Total Current Assets 87.0m / Total Current Liabilities 20.7m)
Debt / Equity = 5.67 (Debt 81.9m / totalStockholderEquity, last quarter 14.5m)
Debt / EBITDA = -1.88 (negative EBITDA) (Net Debt 27.9m / EBITDA -14.9m)
Debt / FCF = -3.02 (negative FCF - burning cash) (Net Debt 27.9m / FCF TTM -9.24m)
Total Stockholder Equity = 17.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -20.63% (Net Income -21.6m / Total Assets 98.9m)
RoE = -3.74% (Net Income TTM -21.6m / Total Stockholder Equity 577.0m)
RoCE = -2.59% (EBIT -16.4m / Capital Employed (Equity 577.0m + L.T.Debt 59.0m))
RoIC = -21.56% (negative operating profit) (NOPAT -13.0m / Invested Capital 60.3m)
WACC = 10.95% (E(576.9m)/V(658.8m) * Re(11.66%) + D(81.9m)/V(658.8m) * Rd(7.52%) * (1-Tc(0.21)))
Discount Rate = 11.66% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 12.37%
[DCF] Fair Price = unknown (Cash Flow -9.24m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.75 | # QB: 0
Revenue Correlation: 99.31 | Revenue CAGR: 24.16% | SUE: 0.27 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.20 | Chg30d=-0.05% | Revisions=+33% | Analysts=7
EPS next Quarter (2026-09-30): EPS=-0.10 | Chg30d=+7.46% | Revisions=-20% | Analysts=7
EPS current Year (2026-12-31): EPS=-0.56 | Chg30d=+6.74% | Revisions=+14% | GrowthEPS=+15.1% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=-0.30 | Chg30d=+15.85% | Revisions=+33% | GrowthEPS=+46.9% | GrowthRev=+23.3%
[Analyst] Revisions Ratio: +33%