NeurAxis Posts Record Q2 2026 Results On PENFS Growth
(RTTNews) - NeurAxis, Inc. (NRXS), a medical technology company focused on neuromodulation therapies, reported financial results for the second quarter ended June 30, 2026, showing strong revenue growth and improved operating metrics compared to the prior year.
Second Quarter 2026 Results:
Revenue for Q2 2026 rose to $1.9 million, up 116% from $0.9 million in Q2 2025, driven by expanded payer coverage following the Category I CPT code assignment for Percutaneous Electric Nerve Field Stimulation (PENFS).
Gross margin expanded by 230 basis points, reflecting higher device sales at full reimbursement prices.
Cash used in operations was $1.0 million, an improvement from $1.5 million in Q2 2025.
Cash balance stood at $8.3 million as of June 30, 2026.
Operational Highlights
-Category I CPT code for PENFS procedures became effective January 2026, supporting broader commercial adoption of IB-Stim.
-Awarded a Veterans Affairs Federal Supply Schedule contract, opening access to approximately 7 million VA patients annually.
-Received FDA clearance for IB-Stim in treating abdominal pain in functional dyspepsia for patients aged 8 and older, expanding the addressable market.
-Secured academic society guideline recommendations for pediatric functional abdominal pain in IBS, reinforcing insurance coverage momentum.
Management Commentary
CEO Brian Carrico noted that Q2 results exceeded expectations, highlighting strong national demand for PENFS and strategic expansion into regions with robust insurance coverage.
NRXS has traded between $2.20 and $9.33 over the past year. The stock closed Monday's trading at $6.87, down 3.10%. In pre-market trading the stock is at $7.00, up 2.34%.
