NeurAxis, Inc. Reports Strong Preliminary Unaudited Fourth Quarter 2024 Results

On January 8, 2025, Neuraxis, Inc. (NYSE American: NRXS) filed an 8-K report with the Securities and Exchange Commission, announcing its preliminary unaudited financial information for the three and twelve months ended December 31, 2024. The company revealed that revenues for the fourth quarter of 2024 increased by approximately 50% compared to the same period in 2023, totaling around $800 thousand. Similarly, revenues for the full year 2024 amounted to approximately $2.7 million, reflecting an 11% year-over-year growth.

While this unaudited financial information demonstrates positive growth trends for NeurAxis, it is important to note that these figures are subject to the company’s standard financial closing procedures. Ongoing financial audits for the year ended December 31, 2024 may potentially lead to adjustments in the reported financial data.

The financial results were detailed in an attached exhibit, Exhibit 99.1, which includes a press release issued by NeurAxis on January 8, 2025. In the release, Brian Carrico, President and CEO of NeurAxis, expressed satisfaction with the company’s performance, highlighting the significant revenue growth experienced in the fourth quarter of 2024. Carrico attributed this growth to the successful attainment of growth objectives for IB-Stim, a neuromodulation therapy, supported by peer-reviewed data, expanded insurance coverage, and increased revenue and margin growth.

Looking ahead, NeurAxis anticipates continued revenue growth in 2025 and beyond, driven by factors such as expanding insurance coverage policies and recent regulatory clearances for its therapies. The company will also begin commercializing its Rectal Expulsion Device (RED) in the first quarter of 2025, following FDA approval.

According to NeurAxis, the company is well-positioned to achieve its growth targets with a strengthened balance sheet, aiming to reach cash flow breakeven. NeurAxis remains focused on balancing robust growth with a prudent expense structure to enhance shareholder value.

NeurAxis, Inc. is a medical technology company specializing in neuromodulation therapies for chronic conditions in both children and adults. The company’s core offering, IB-Stim™, is an FDA-cleared therapy for functional abdominal pain linked with irritable bowel syndrome (IBS) in adolescents aged 11-18, with additional trials underway for various other conditions with unmet medical needs.

Investors and shareholders are advised that forward-looking statements in this press release are subject to inherent risks and uncertainties, and actual results may differ from anticipated outcomes. NeurAxis commits to updating stakeholders as necessary with relevant information and developments.

Please note that the content provided in this news article is based on the 8-K filing and accompanying exhibit submitted by NeurAxis to the Securities and Exchange Commission. No additional or altered information has been included beyond the scope of the filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NeurAxis’s 8K filing here.

About NeurAxis

NeurAxis, Inc, a medical technology company, focuses on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults in the United States. It offers IB-Stim, a percutaneous electrical nerve field stimulation system intended to be used in patients 11-18 years of age with functional abdominal pain associated with irritable bowel syndrome.