NeurAxis, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company achieved net sales of $1.93 million for the three months ended June 30, 2026, a substantial increase of 115.7% compared to $894,086 in the same period last year. For the first half of 2026, net sales reached $3.54 million, up 97.6% from $1.79 million in the prior year. The increase in revenue is attributed to a rise in unit volume driven by broader insurance coverage following the implementation of a Category I CPT code for the IB-Stim device, which is used to treat functional abdominal pain.
Despite the revenue growth, NeurAxis reported a net loss of $2.09 million for the second quarter of 2026, compared to a loss of $1.69 million in the same quarter of 2025. The loss for the first half of 2026 was $3.85 million, slightly down from $3.97 million in the previous year. The increase in net loss is primarily due to higher operating expenses, including selling costs associated with increased sales volume and research and development expenses aimed at expanding the FDA indications for the IB-Stim device.
Operationally, NeurAxis has made strides in expanding its product offerings and market presence. The company has developed four FDA-cleared products, including the IB-STIM and the Rectal Expulsion Device (RED). The termination of the NSS-2 Bridge license with Masimo in July 2025 allowed NeurAxis to regain rights to its intellectual property, which is expected to enhance its product portfolio. The company also reported an increase in its employee headcount, reflecting its growth strategy and the need for additional personnel to support its expanding operations.
As of June 30, 2026, NeurAxis had total assets of $10 million, up from $6.4 million at the end of 2025. The company’s cash and cash equivalents increased to $8.32 million, compared to $4.97 million at the end of the previous year. This increase in liquidity is attributed to proceeds from the issuance of common stock and the exercise of warrants. However, the company continues to face challenges, including ongoing operating losses and the need for additional funding to support its growth initiatives. NeurAxis has expressed substantial doubt about its ability to continue as a going concern, emphasizing the importance of securing insurance coverage for its products and generating sufficient revenue to sustain operations.
Looking ahead, NeurAxis aims to leverage its recent product developments and market expansions to drive revenue growth. The company is focused on increasing adoption of its IB-Stim device among healthcare providers and securing broader insurance coverage, which is critical for its long-term success. The management remains committed to addressing its operational challenges and enhancing its financial performance as it navigates the complexities of the medical device market.
About Neuraxis, INC
Neuraxis, Inc. develops neuromodulation medical devices targeting pediatric and adult gastrointestinal and neurological conditions. Its core products include FDA-cleared non-invasive nerve stimulation systems for functional abdominal pain, IBS, and related disorders. The company leverages proprietary patents, clinical research, and strategic licensing to provide evidence-based, non-drug therapies that improve patient outcomes, primarily serving hospitals, clinics, and healthcare providers in the US and globally.
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