CARMEL, Ind. — November 11, 2025 — Leads & Copy — NeurAxis, Inc. (NYSE American: NRXS), a medical technology company focused on neuromodulation therapies for chronic conditions in children and adults, announced its third-quarter results for the period ending September 30, 2025.
The company reported a 22% year-over-year revenue increase, reaching $811,000 in 3Q25 compared to $667,000 in 3Q24. The operating loss for the same period increased by 27% due to heightened sales and marketing investments. NeurAxis secured an additional $2.8 million in October 2025 through an at-the-market equity offering and warrant exercises, supplementing its $4.4 million cash balance as of September 30, 2025.
Significant operational achievements for NeurAxis include an FDA clearance for treating pain associated with Functional Dyspepsia (FD) and nausea in adults. The company also received a recommendation from a key academic society for its Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, the only FDA-cleared or approved treatment recommended in pediatric guidelines for Functional Abdominal Pain (FAP) in Irritable Bowel Syndrome (IBS). This recommendation is expected to facilitate large-scale insurance coverage for IB-Stim.
The company further secured FDA clearance for treating pediatric FAP/FD and associated nausea, expanding IB-Stim’s market. Additionally, NeurAxis has expanded total covered lives to approximately 55 million and obtained a new Current Procedural Terminology (CPT) Category I code for PENFS procedures, effective January 1, 2026.
A new FDA clearance expanded the IB-Stim label to include patients aged 8-21 years and allows for up to four devices per patient. The company also received 510(k) clearance from the FDA for its Rectal Expulsion Device (RED), designed to simplify anorectal function testing in adults with chronic constipation.
Brian Carrico, CEO of NeurAxis, expressed optimism about the company’s scaling phase in 2026, anticipating the benefits of the CPT Category I code and expanded insurance coverage for IB-Stim. He noted that the inclusion of PENFS technology in clinical practice guidelines positions NeurAxis for revenue growth and margin expansion. Carrico also highlighted the recent FDA clearance expanding IB-Stim’s indication to include functional dyspepsia and nausea in younger patients, supported by strong operational momentum.
In the third quarter of 2025, gross margin declined to 83.3% from 85.4% in the third quarter of 2024, attributed to higher discounting for patients in financial assistance programs and expired RED inventory charges. The operating loss for the third quarter of 2025 was $2.1 million, an increase from $1.8 million in the third quarter of 2024.
The net loss attributable to shareholders in the third quarter of 2025 was $2.1 million compared to $1.8 million in the third quarter of 2024. Higher sales volume was offset by increased sales and marketing expenses. Cash on hand as of September 30, 2025, was $4.4 million. In October 2025, the Company improved its liquidity position by raising $2.8 million through an at-the-market common stock offering and the exercises of warrants.
NeurAxis will host a conference call on November 11, 2025, at 9:00 a.m. ET to discuss the results. Interested parties can access the conference call via a live webcast or by registering at a provided link to receive dial-in information.
NeurAxis, Inc. is a medical technology company focused on neuromodulation therapies for chronic and debilitating conditions in children and adults. Its IB-Stim™ therapy is FDA-cleared for Functional Abdominal Pain associated with irritable bowel syndrome (IBS) and Functional Dyspepsia and associated Nausea Symptoms in adolescents ages 8 and over.
For more information, please visit https://ibstim.com/important-information/ and https://red4constipation.com/information/
Ben Shamsian, Lytham Partners, 646-829-9701, shamsian@lythampartners.com
Source: NeurAxis, Inc.
