Neuropace (NPCE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Neuropace

NasdaqGM•Healthcare•Medical Devices

$14.76-0.14(-0.01%)Pre-market

Market Cap

$497.58M

P/S

5.0x

P/B

41.9x

NeuroPace, Inc. operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating drug-resistant focal epilepsy. Its RNS System includes RNS neurostimulator, cortical strip and depth leads, and Patient Remote Monitor, as well as other implantable and non-implantable accessories. In addition, the company provides physician tablet which is used for prescribing and managing clinicians for programming implanted devices and managing patient care; and patient data management system, a secure online database that collects data that have been recorded by the RNS System; and nSight Platform, which provide clinicians with personalized patient reports, as well as programming suggestions. It sells its products to hospital facilities for initial RNS System implant procedures and for replacement procedures. NeuroPace, Inc. was incorporated in 1997 and is headquartered in Mountain View, California.

How this company scores

WeakMetricSide Score: 41/100

Grade capped at D — Interest coverage below 1× (-2.4x) — earnings cannot cover interest. Strongest: Growth (18/25); weakest: Balance Sheet & Red Flags (1/25).

Profitability15/25

Growth18/25

Balance Sheet & Red Flags1/25

Cash & Earnings Quality7/25

Strengths

Profit converts from growthConsistent growthImproving margins

Grade capped at D

Interest coverage below 1× (-2.4x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 5.0x5y range 0.8x – 5.6x

Currently near its 19-quarter median.

P/B · 41.9x5y range 1.1x – 41.9x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $497.58M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $98.84M
Q. Revenue: $22.83M
TTM EBITDA: $-14.82M
TTM Op. Income: $-15.08M
Q. Op. Income: $-5.14M
TTM Net Income: $-19.11M
Q. Net Income: $-6.20M
EPS: $-0.18
Shares Out.: $34.10M

$98.84M in TTM revenue grew 11.6% YoY, reaching $22.83M last quarter. TTM EBITDA of $-14.82M and TTM operating income of $-15.08M show growth is flowing through to the bottom line. However, net income is negative at $19.11M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 82.8%
EBITDA Margin: -22.2%
Op. Margin: -22.5%
Net Margin: -27.2%

Op. margin of -22.5% is up 6.5% YoY — cost efficiency is improving. Net margin at -27.2% and gross margin of 82.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 22% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 5.0x
P/B Ratio: 41.9x

P/S of 5.0x and P/B of 41.9x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $96.99M
Cash: $12.54M
Long-Term Debt: $59.01M
Book Value: $11.88M
D/E Ratio: 5.0
Debt/EBITDA: N/A

With $96.99M in assets and $59.01M in long-term debt, D/E is 5.0and book value is $11.88M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-3.90M
TTM Free Cash Flow: $-11.61M
FCF Margin: -11.7%
FCF / Net Income: 0.6

TTM FCF of $-11.61M on $-3.90M in operating cash flow. The FCF / Net Income ratio of 0.6x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 29% — a weakening trend.