Neuraxis, INC (NRXS)
NeurAxis, Inc. (NRXS) is an American company specializing in neuromodulation therapy devices. Its primary offering is IB-Stim, a percutaneous electrical nerve field stimulation system engineered to alleviate functional abdominal pain associated with irritable bowel syndrome in patients aged 11 to 18. NeurAxis markets its solutions to healthcare providers, predominantly hospitals and clinics. The firm, headquartered in Carmel, Indiana, was established in 2011 and operated as Innovative Health Solutions, Inc. until its rebranding to NeurAxis, Inc. in March 2022.
Sector: Electromedical & Electrotherapeutic Apparatus
Industry: Biotechnology
NeurAxis, Inc.
NYSE:NRXSHealthcare · Biotechnology
-2.03%$7.25
AH Close$7.25+0.00%vs close
AH Close$7.25+0.00%vs close
Mkt Cap$91.04M
Float8.63M
O/S12.56M
Inst Own22.0%
SI4.8%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$3.57M
Net Income-$7.8M
Total Assets$6.4M
Free Cash Flow-$6.46M
Debt & Equity
Debt 11%
Equity 89%
Preferred 0%
Total Debt$417K
Total Equity$3.4M
Preferred Stock$4K
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in NRXS's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$6.4M
Liabilities$3M
Accounts Receivable$196K
Accounts Payable$139K
Inventory$257K
PP&E (Net)$337K
Goodwill$0
Intangible Assets$275K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Revenue | $3.57M | $2.69M | $2.46M | $2.68M | $2.72M | $1.93M |
| YoY Growth | 32.9% | 9.2% | -8.4% | -1.3% | 41.0% | - |
| Cost of Revenue | $563K | $362K | $303K | $297K | $468K | $481K |
| Gross Profit | $3.01M | $2.32M | $2.16M | $2.39M | $2.25M | $1.45M |
| Gross Margin | 84.2% | 86.5% | 87.7% | 88.9% | 82.8% | 75.1% |
| Research and Development | $494K | $206K | $169K | $226K | $203K | $167K |
| Selling, General, and Administrative | $10.34M | $9.27M | $8.65M | $5.53M | $5.02M | $5.4M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $10.84M | $9.48M | $8.82M | $5.76M | $5.22M | $5.57M |
| Operating Income (EBIT) | -$7.83M | -$7.16M | -$6.66M | -$3.37M | -$2.97M | -$4.12M |
| Operating Margin | -219.4% | -266.5% | -270.9% | -125.6% | -109.1% | -213.5% |
| Interest Expense | $74K | $301K | $5.36M | $418K | $37K | $76K |
| Interest Income | $0 | $0 | -$3K | -$2.32M | $0 | $37 |
| Other Income (Expense) | $29K | -$1.08M | -$7.96M | -$1.41M | -$58K | $395K |
| Income Before Tax (EBT) | -$7.8M | -$8.24M | -$14.63M | -$4.78M | -$3.03M | -$3.73M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$7.8M | -$8.24M | -$14.63M | -$4.78M | -$3.03M | -$3.73M |
| Net Income Margin | -218.5% | -306.8% | -594.6% | -178.0% | -111.3% | -193.0% |
| Supplementary Data | ||||||
| EPS | -0.95 | -1.22 | -2.32 | -0.57 | -0.62 | -0.80 |
| Diluted EPS | -0.95 | -1.22 | -2.32 | -0.78 | -0.62 | -0.80 |
| Weighted Average OS | 9.08M | 6.92M | 6.30M | 8.41M | 5.38M | 5.38M |
| EBITDA | -$7.67M | -$7.9M | -$9.23M | -$4.33M | -$2.95M | -$3.61M |
| EBITDA Margin | -214.8% | -294.2% | -375.1% | -161.1% | -108.6% | -187.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $4.97M | $3.7M | $79K | $254K | $321K | $1.9M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $4.97M | $3.7M | $79K | $254K | $321K | $1.9M |
| Accounts Receivable | $196K | $245K | $73K | $174K | $115K | $311K |
| Inventory | $257K | $44K | $21K | $48K | $39K | $107K |
| Other Current Assets | $71K | $280K | $70K | $726 | $0 | $0 |
| Total Current Assets | $5.73M | $4.27M | $243K | $477K | $491K | $2.46M |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $337K | $375K | $159K | $189K | $246K | $302K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $275K | $97K | $108K | $78K | $24K | $26K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $59K | $20K | $0 | $737K | $0 | $0 |
| Total Long-Term Assets | $671K | $491K | $267K | $1M | $269K | $328K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $6.4M | $4.76M | $509K | $1.48M | $760K | $2.79M |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $139K | $597K | $1.2M | $1.59M | $484K | $165K |
| Short-Term Debt | $148K | $154K | $148K | $489K | $250K | $151K |
| Current Income Tax Payable | $0 | $0 | $0 | $777 | $563 | $554 |
| Current Unearned Revenue | $29K | $33K | $75K | $59K | $69K | $0 |
| Other Current Liabilities | $2.07M | $1.27M | $342K | $4.51M | $44K | $8K |
| Total Current Liabilities | $2.79M | $2.43M | $1.89M | $6.98M | $1.42M | $1.01M |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $52K | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $10K | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $213K | $256K | $27K | $76K | $161K | $137K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3M | $2.69M | $1.91M | $7.05M | $1.59M | $1.15M |
| Stockholders' Equity | ||||||
| Preferred Stock | $4K | $4K | $0 | $622 | $0 | $0 |
| Common Stock | $11K | $7K | $7K | $2K | $3K | $3K |
| Retained Earnings | -$64.6M | -$56.8M | -$48.56M | -$33.93M | -$29.15M | -$26.12M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $67.99M | $58.86M | $47.15M | $28.36M | $28.32M | $27.76M |
| Total Equity | $3.4M | $2.07M | -$1.4M | -$5.57M | -$826K | $1.64M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $6.4M | $4.76M | $509K | $1.48M | $760K | $2.79M |
| Supplementary Data | ||||||
| Total Debt | $417K | $473K | $224K | $599K | $439K | $311K |
| Net Debt | -$4.55M | -$3.22M | $146K | $345K | $118K | -$1.58M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Operating Activities | ||||||
| Net Income | -$7.8M | -$8.24M | -$14.63M | -$4.78M | -$3.03M | -$3.73M |
| Depreciation & Amortization | $60K | $38K | $41K | $37K | $37K | $36K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $41K | $0 |
| Stock-Based Compensation | $597K | $1.4M | $750K | $27K | $49K | $49K |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $47K | -$179K | $76K | -$79K | $184K | -$223K |
| Inventory | -$243K | -$33K | $27K | -$9K | $68K | $324K |
| Accounts Payable | -$458K | -$607K | -$388K | $1.11M | $319K | -$664K |
| Other Working Capital | $1.26M | $960K | -$381K | $250K | $73K | $268K |
| Total Working Capital Change | $610K | $141K | -$666K | $1.27M | $644K | -$295K |
| Other Non-Cash Items | $101K | $560K | $7.81M | $1.15M | $23K | -$202K |
| Net Cash from Operating | -$6.43M | -$6.1M | -$6.69M | -$2.3M | -$2.23M | -$4.14M |
| Investing Activities | ||||||
| Capital Expenditures | -$31K | -$28K | -$31K | -$1K | -$1K | -$28K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$100K | $0 | -$41K | -$60K | $0 | $0 |
| Net Cash from Investing | -$131K | -$28K | -$72K | -$61K | -$1K | -$28K |
| Financing Activities | ||||||
| Debt Repaid | - | - | - | $41K | - | $717K |
| Common Stock Issuance | $8.83M | $0 | $4.85M | $0 | $510K | $4.04M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$713K | -$168K | -$323K | -$867K | -$510K | $2.73M |
| Net Cash from Financing | $7.83M | $9.74M | $6.59M | $2.29M | $661K | $6.05M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $1.27M | $3.62M | -$175K | -$67K | -$1.57M | $1.89M |
| Supplementary Data | ||||||
| Operating Cash Flow | -$6.43M | -$6.1M | -$6.69M | -$2.3M | -$2.23M | -$4.14M |
| Capital Expenditure | -$31K | -$28K | -$72K | -$61K | -$1K | -$28K |
| Free Cash Flow | -$6.46M | -$6.13M | -$6.77M | -$2.36M | -$2.24M | -$4.17M |
| Cash at Beginning | $3.7M | $79K | $254K | $321K | $1.9M | $9K |
| Cash at End | $4.97M | $3.7M | $79K | $254K | $321K | $1.9M |