Ceribell, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $22.6 million, a 31% increase from $17.2 million in the same period last year. The growth was driven by a 28% rise in product revenue, which reached $17.0 million, and a 44% increase in subscription revenue, totaling $5.6 million. For the nine months ending September 30, 2025, total revenue was $64.3 million, up 37% from $46.9 million in the prior year. Despite this revenue growth, the company reported a net loss of $13.5 million for the quarter, compared to a loss of $10.4 million in Q3 2024, and a net loss of $39.9 million for the nine-month period, up from $27.9 million in the previous year.
The company’s operating expenses also increased significantly, with total operating expenses for the third quarter rising to $34.6 million, a 39% increase from $24.9 million in Q3 2024. This increase was primarily attributed to higher research and development costs, which grew by 47%, and sales and marketing expenses, which surged by 48%. The company’s accumulated deficit reached $206.8 million as of September 30, 2025, reflecting ongoing investments in product development and market expansion.
Ceribell has made strategic advancements, including the expansion of its customer base, which now includes over 600 active accounts, and the use of its Ceribell System in the care of more than 200,000 patients. The company is focused on becoming the standard of care for seizure detection in acute settings, with plans to expand its sales organization to drive further adoption. Additionally, Ceribell has received a CE Mark for its system in Europe and is pursuing further regulatory clearances internationally.
Operationally, the company has seen increased engagement metrics, with a notable rise in the utilization of its EEG headbands. The product adoption rate is expected to continue growing as Ceribell enhances its marketing efforts and educates healthcare providers about the benefits of its technology. As of September 30, 2025, Ceribell had $168.5 million in cash and cash equivalents and marketable securities, which the company believes will be sufficient to fund its operations for at least the next 12 months. However, it cautions that future capital needs may arise depending on market conditions and operational performance.
Looking ahead, Ceribell anticipates continued revenue growth driven by increased product utilization and subscription adoption. The company remains committed to investing in research and development to enhance its offerings and expand into new indications. However, it acknowledges the potential for fluctuations in revenue due to market dynamics and the need for additional capital to support its growth initiatives.
About Ceribell, Inc.
CeriBell, Inc. develops point-of-care EEG systems utilizing portable hardware and AI algorithms to enable rapid seizure detection and continuous monitoring in acute care settings. Its flagship Ceribell System simplifies EEG deployment, supports bedside interpretation, and improves clinical outcomes while reducing hospital costs. Serving hospitals and healthcare providers, the company aims to expand neurological diagnostics and become the standard for brain monitoring in critical care.
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