electroCore (ECOR)
Market Price (8/20/2026): $10.75 | Market Cap: $101.1 MilSector: Health Care | Industry: Life Sciences Tools & Services
electroCore (ECOR)
Market Price (8/20/2026): $10.75Market Cap: $101.1 MilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% Megatrend and thematic driversMegatrends include Precision Medicine, and Digital Health & Telemedicine. Themes include Targeted Therapies, and Remote Patient Monitoring. | Trading close to highsDist 52W High is 0.0% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -38% Stock price has recently run up significantly12M Rtn12 month market price return is 118% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -26% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% Key risksECOR key risks include [1] its persistent cash burn and need for additional financing, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Digital Health & Telemedicine. Themes include Targeted Therapies, and Remote Patient Monitoring. |
| Trading close to highsDist 52W High is 0.0% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -38% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 118% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -26% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% |
| Key risksECOR key risks include [1] its persistent cash burn and need for additional financing, Show more. |
Qualitative Assessment
AI Analysis | Feedback
electroCore (ECOR) stock has gained about 65% since 4/30/2026 because of the following key factors:
1. Strong Revenue Growth and Improved Profitability in Fiscal Q1 2026.
electroCore reported record quarterly net sales of $9.6 million for fiscal Q1 2026, an approximate 43% increase year-over-year from $6.7 million in fiscal Q1 2025. This growth was driven by U.S. prescription sales in the Department of Veterans Affairs (VA), sales of Quell Fibromyalgia products, and Truvaga sales. The company also demonstrated improved profitability with its adjusted EBITDA net loss decreasing by 24% year-over-year to $2.3 million in fiscal Q1 2026, despite a one-time expense of $1.9 million related to leadership transition.
2. Exceptional Fiscal Q2 2026 Financial Results and Upgraded Full-Year Guidance.
Building on its Q1 performance, electroCore announced strong fiscal Q2 2026 financial results on August 6, 2026, with net sales reaching $9.5 million, marking an approximately 28% increase year-over-year from $7.4 million in fiscal Q2 2025. The GAAP diluted loss per share improved to -$0.33 from -$0.44 in the prior year period, beating the consensus estimate of -$0.42 by $0.09. Furthermore, the adjusted EBITDA net loss improved 26% to $1.75 million. Crucially, management raised its full-year 2026 revenue guidance to greater than 30% annual growth over 2025 and reiterated its target to achieve positive Adjusted EBITDA by fiscal Q3 2027.
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electroCore (ECOR) stock has gained about 65% since 4/30/2026 because of the following key factors:
1. Strong Revenue Growth and Improved Profitability in Fiscal Q1 2026.
electroCore reported record quarterly net sales of $9.6 million for fiscal Q1 2026, an approximate 43% increase year-over-year from $6.7 million in fiscal Q1 2025. This growth was driven by U.S. prescription sales in the Department of Veterans Affairs (VA), sales of Quell Fibromyalgia products, and Truvaga sales. The company also demonstrated improved profitability with its adjusted EBITDA net loss decreasing by 24% year-over-year to $2.3 million in fiscal Q1 2026, despite a one-time expense of $1.9 million related to leadership transition.
2. Exceptional Fiscal Q2 2026 Financial Results and Upgraded Full-Year Guidance.
Building on its Q1 performance, electroCore announced strong fiscal Q2 2026 financial results on August 6, 2026, with net sales reaching $9.5 million, marking an approximately 28% increase year-over-year from $7.4 million in fiscal Q2 2025. The GAAP diluted loss per share improved to -$0.33 from -$0.44 in the prior year period, beating the consensus estimate of -$0.42 by $0.09. Furthermore, the adjusted EBITDA net loss improved 26% to $1.75 million. Crucially, management raised its full-year 2026 revenue guidance to greater than 30% annual growth over 2025 and reiterated its target to achieve positive Adjusted EBITDA by fiscal Q3 2027.
3. Significant Sales Acceleration in Key Products, notably Quell.
A core driver of the revenue growth was the substantial increase in sales of key products. Quell sales notably grew approximately 700% year-over-year in fiscal Q2 2026, reaching $1.3 million. Similarly, Truvaga revenue increased 27% year-over-year to $1.3 million in the same quarter. This impressive growth in specific product lines, particularly Quell, indicates strong market adoption and contributed significantly to the overall positive stock trend. The publication of a review in JAMA in May 2026, highlighting the benefits of Quell in fibromyalgia treatment, likely further bolstered investor confidence.
4. Continued Strong Performance and Focus on the U.S. Department of Veterans Affairs (VA) Channel.
The U.S. Department of Veterans Affairs (VA) channel consistently remained a primary growth driver for electroCore. In fiscal Q1 2026, VA sales constituted 74.8% of net sales. This continued in fiscal Q2 2026, with VA sales of Rx gammaCore growing approximately 11% year-over-year. The company emphasized its expectation that the majority of fiscal year 2026 revenue would continue to come from the VA, reinforcing the importance and stability of this channel for its commercial strategy.
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Stock Movement Drivers
Fundamental Drivers
The 66.1% change in ECOR stock from 4/30/2026 to 8/19/2026 was primarily driven by a 52.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.51 | 10.81 | 66.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 32 | 37 | 15.4% |
| P/S Multiple | 1.8 | 2.8 | 52.4% |
| Shares Outstanding (Mil) | 9 | 9 | -5.6% |
| Cumulative Contribution | 66.1% |
Market Drivers
4/30/2026 to 8/19/2026| Return | Correlation | |
|---|---|---|
| ECOR | 66.1% | |
| Market (SPY) | 7.0% | 16.0% |
| Sector (XLV) | 20.3% | 9.8% |
Fundamental Drivers
The 62.3% change in ECOR stock from 1/31/2026 to 8/19/2026 was primarily driven by a 45.9% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.66 | 10.81 | 62.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 30 | 37 | 23.9% |
| P/S Multiple | 1.9 | 2.8 | 45.9% |
| Shares Outstanding (Mil) | 8 | 9 | -10.2% |
| Cumulative Contribution | 62.3% |
Market Drivers
1/31/2026 to 8/19/2026| Return | Correlation | |
|---|---|---|
| ECOR | 62.3% | |
| Market (SPY) | 11.4% | 24.8% |
| Sector (XLV) | 14.0% | 15.3% |
Fundamental Drivers
The 56.2% change in ECOR stock from 7/31/2025 to 8/19/2026 was primarily driven by a 39.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.92 | 10.81 | 56.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 26 | 37 | 39.7% |
| P/S Multiple | 2.2 | 2.8 | 26.8% |
| Shares Outstanding (Mil) | 8 | 9 | -11.9% |
| Cumulative Contribution | 56.2% |
Market Drivers
7/31/2025 to 8/19/2026| Return | Correlation | |
|---|---|---|
| ECOR | 56.2% | |
| Market (SPY) | 22.7% | 27.2% |
| Sector (XLV) | 36.4% | 20.0% |
Fundamental Drivers
The 140.2% change in ECOR stock from 7/31/2023 to 8/19/2026 was primarily driven by a 290.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.50 | 10.81 | 140.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9 | 37 | 290.2% |
| P/S Multiple | 2.3 | 2.8 | 22.1% |
| Shares Outstanding (Mil) | 5 | 9 | -49.6% |
| Cumulative Contribution | 140.2% |
Market Drivers
7/31/2023 to 8/19/2026| Return | Correlation | |
|---|---|---|
| ECOR | 140.2% | |
| Market (SPY) | 73.9% | 18.0% |
| Sector (XLV) | 37.1% | 15.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ECOR Return | -63% | -56% | 55% | 172% | -72% | 129% | -56% |
| Peers Return | -2% | 9% | -28% | -21% | -11% | 40% | -24% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| ECOR Win Rate | 17% | 42% | 67% | 58% | 50% | 62% | |
| Peers Win Rate | 47% | 50% | 39% | 47% | 33% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ECOR Max Drawdown | -81% | -76% | -48% | -29% | -78% | -44% | |
| Peers Max Drawdown | -44% | -49% | -59% | -57% | -59% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LIVN, STIM, INSP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/19/2026 (YTD)
How Low Can It Go
| Event | ECOR | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.2% | -7.8% |
| % Gain to Breakeven | 11.4% | 8.5% |
| Time to Breakeven | 42 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.3% | -6.7% |
| % Gain to Breakeven | 67.4% | 7.1% |
| Time to Breakeven | 23 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -57.5% | -24.5% |
| % Gain to Breakeven | 135.2% | 32.4% |
| Time to Breakeven | 724 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -70.9% | -33.7% |
| % Gain to Breakeven | 244.1% | 50.9% |
| Time to Breakeven | 12 days | 140 days |
In The Past
electroCore's stock fell -10.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 11.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | ECOR | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.3% | -6.7% |
| % Gain to Breakeven | 67.4% | 7.1% |
| Time to Breakeven | 23 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -57.5% | -24.5% |
| % Gain to Breakeven | 135.2% | 32.4% |
| Time to Breakeven | 724 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -70.9% | -33.7% |
| % Gain to Breakeven | 244.1% | 50.9% |
| Time to Breakeven | 12 days | 140 days |
In The Past
electroCore's stock fell -10.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 11.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About electroCore (ECOR)
electroCore, Inc. (ECOR) is a commercial-stage medical device company focused on the development and commercialization of non-invasive vagus nerve stimulation (nVNS) therapies. The company's innovative approach centers on providing a drug-free option for pain management by delivering electrical impulses to the vagus nerve.
Its lead product is gammaCore Sapphire, a prescription-only, rechargeable, and reloadable handheld device designed for regular or intermittent use over many years. This nVNS therapy is specifically intended for the acute treatment of pain associated with migraine and episodic cluster headaches in adult patients, serving individuals who are prescribed the device by their healthcare providers.
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Here are 1-3 brief analogies for electroCore (ECOR):
- ResMed for migraine and cluster headache devices.
- Medtronic for non-invasive headache treatments.
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- gammaCore: A prescription-only non-invasive vagus nerve stimulation (nVNS) therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.
- gammaCore Sapphire: A rechargeable and reloadable handheld device that delivers the gammaCore nVNS therapy.
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Major Customers of electroCore (ECOR)
electroCore, Inc. primarily sells its prescription-only non-invasive vagus nerve stimulation (nVNS) therapies, such as gammaCore Sapphire, to individuals through healthcare providers and pharmacies. The ultimate customers are patients who have received a prescription for the device.
Categories of Individual Customers:
- Individuals suffering from migraine, for the acute treatment of associated pain.
- Individuals suffering from episodic cluster headache, for the acute treatment of associated pain.
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- Benchmark Electronics, Inc. (BHE)
- Zynex Medical, Inc. (ZYXI)
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Daniel S. Goldberger, Chief Executive Officer
Daniel S. Goldberger has over 35 years of leadership and medical device experience. Prior to joining electroCore, he served as Executive Chairman, Chairman, and interim Chief Executive Officer of Repro Med Systems, Inc. (RMS). He also held positions as Director and Chief Executive Officer of Xtant Medical Holdings, Inc. and Director and Chief Executive Officer of Sound Surgical Technologies. Earlier in his career, he held various positions at Glucon, Inc., OSI Systems, Ohmeda, Nellcor, and Hewlett Packard. Goldberger is recognized for his expertise in turnarounds, commercial execution, capital formation, and product development across diverse medical technology companies.
Joshua Lev, Chief Financial Officer
Joshua Lev was appointed Chief Financial Officer of electroCore, effective October 4, 2024. He previously served as Chief Strategy Officer for the company since January 2022, and as VP of Business Development, Strategy, and Financial Planning since February 2020. Before joining electroCore, Mr. Lev accumulated over 15 years of experience in the financial services industry as an investment banker and investor, focusing on emerging growth companies. He was a co-founder of Aracle Capital, LLC from March 2014 through February 2020, and served as Director of Business Development at Wellfleet Partners, Inc. from 2011 to February 2020, where he focused on capital raising, M&A, and strategic transactions.
Peter S. Staats, MD, MBA, Chief Medical Officer
Dr. Peter Staats is a co-founder of electroCore and is responsible for overseeing the clinical development of gammaCoreTM. He previously served on the company's board of directors. Dr. Staats is internationally recognized for his work in neuromodulation strategies and minimally invasive procedures for chronic pain, and he founded the Division of Pain Medicine at Johns Hopkins University, where he served as director for 10 years.
Manny Marques, Senior Vice President, Operations
Manny Marques serves as the Senior Vice President of Operations for electroCore.
Mitch DeShon, Vice President Global Sales & Business Development
Mitch DeShon has over 20 years of experience in the medical device industry. He has held executive sales and business development roles at companies such as Sound Surgical, ICN Pharmaceuticals, ESC/Lumenis, and Sherwood Medical. Prior to electroCore, he was the Vice President of Sales for Venus Concept, managing the Australia/APAC region.
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Here are the key risks to electroCore's business:
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Dependence on Additional Funding and Path to Profitability: electroCore is currently unprofitable and continues to incur net losses, requiring the company to raise additional capital to fund its ongoing operations, product development, and commercialization strategies. Despite some revenue growth, the company's widening net loss and negative operating cash flow indicate a persistent cash burn that necessitates significant revenue increases to achieve cash flow positivity and long-term financial stability.
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High Customer Concentration and Reliance on the VA Channel: A substantial portion of electroCore's revenue, particularly within its prescription device segment, is generated through the U.S. Department of Veterans Affairs (VA) channel. For instance, the VA channel accounted for approximately 70% of total revenue in Q2 2025 and 70.6% in 2024. This heavy dependence on a single customer channel exposes the company to significant risk, as any adverse changes in VA procurement policies, reimbursement rates, or budget allocations could severely destabilize its financial model.
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Reimbursement Challenges and Market Adoption: While electroCore's products, such as gammaCore, have received regulatory clearances, the company faces ongoing hurdles in securing widespread and adequate reimbursement from both governmental payers (like the Centers for Medicare and Medicaid Services, CMS) and private insurance providers. Decisions from entities like CMS have historically rejected appeals for higher payment amounts, limiting the commercial viability of its novel medical devices. Slow market penetration and challenges in establishing broad reimbursement can hinder patient access and overall revenue growth for its non-invasive vagus nerve stimulation (nVNS) therapies.
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electroCore, Inc. (ECOR) develops and commercializes gammaCore, a non-invasive vagus nerve stimulation (nVNS) therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults, and for the preventive treatment of cluster headache and migraine in adults.
The addressable markets for electroCore's main products and services are as follows:
Migraine Market
- Global Market: The global migraine drugs market was valued at approximately USD 10.88 billion across the seven major markets (7MM: US, France, Germany, Italy, Spain, UK, and Japan) in 2023 and is projected to increase through 2034. Other estimates for the global migraine drugs market include a valuation of USD 6.81 billion in 2024, projected to reach USD 13.34 billion by 2030, growing at a CAGR of 10.9%. Another source valued the global market at USD 7.67 billion in 2025, projected to grow to USD 19.71 billion by 2034, exhibiting a CAGR of 11.06%.
- U.S. Market: The U.S. migraine market accounted for approximately USD 6.79 billion in 2023, making it the highest among the 7MM. The U.S. migraine drugs market generated a revenue of USD 2.937 billion in 2024 and is expected to reach USD 6.1712 billion by 2030, growing at a CAGR of 13.2% from 2025 to 2030.
Cluster Headache Market
- Global Market: The global cluster headache market was valued at approximately USD 456.6 million in 2024 and is projected to reach USD 899.8 million by 2035, expanding at a CAGR of 6.4% from 2025 to 2035. Another report estimated the global market to be valued at USD 449.3 million in 2025 and expected to reach USD 694.0 million by 2032, exhibiting a CAGR of 6.4%.
- U.S. Market: The total cluster headache treatment market size across the 7MM (US, EU4, UK, and Japan) was around USD 890 million in 2023. The U.S. captured the highest share of this market, approximately USD 467 million in 2023. North America, specifically, held a dominant market share of 41.7% in the global cluster headache market in 2025, with the U.S. being a significant contributor due to its developed healthcare infrastructure.
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electroCore (ECOR) is anticipated to drive future revenue growth over the next two to three years through several key initiatives:
- Expansion within the U.S. Prescription Channel, particularly the VA Hospital System: The company has seen continued growth in prescription device sales for both gammaCore and the newly acquired Quell Fibromyalgia product within the Department of Veteran Affairs (VA) hospital system. Management is strategically investing in strengthening the VA and managed-care channels to further accelerate this growth.
- Growth of the Truvaga Wellness Product Line and AI-Enabled Software Strategy: Truvaga wellness sales have demonstrated significant year-over-year increases, with the company actively increasing its media budget to drive further growth in this direct-to-consumer channel. Additionally, electroCore is developing a next-generation AI-enabled app for Truvaga to foster recurring revenue.
- Synergy and Expansion from the NeuroMetrix (Quell) Acquisition: The acquisition of NeuroMetrix, including the Quell Fibromyalgia product, is already exceeding expectations and contributing to revenue, particularly within the VA channel. electroCore also plans to launch additional health and wellness offerings, such as Quell Relief for lower extremity pain, leveraging this acquisition.
- International Market Expansion and Reimbursement Gains: electroCore is pursuing commercialization in new international markets, including a planned royalty arrangement for China. The company has also secured long-term reimbursement approval for gammaCore in Belgium and has plans for expansion into Canada and the UK, broadening its global footprint.
- Development of New Use Cases and Target Demographics for nVNS Products: The company expects to introduce new applications and target populations for its non-invasive vagus nerve stimulation (nVNS) products. This includes exploring adjunctive treatment for symptoms associated with Post-Traumatic Stress Disorder (PTSD) using gammaCore Sapphire.
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Share Issuance
- In June 2024, electroCore closed a registered direct offering and concurrent private placements, generating approximately $9.3 million in gross proceeds. These funds were intended for sales and marketing, working capital, and general corporate purposes.
- Approximately $5.645 million of the gross proceeds from the June 2024 offering were provided by directors and officers of electroCore.
- In October 2025, electroCore issued 360,737 shares in a private placement, valued at approximately $1.856 million, to satisfy outstanding legal fee obligations, with no cash proceeds received by the company.
Inbound Investments
- Directors and officers of electroCore provided approximately $5.645 million as part of the $9.3 million gross proceeds raised in a June 2024 offering.
- In October 2025, electroCore issued 106,351 private placement shares to "Avenue" in connection with a loan agreement.
Outbound Investments
- In the third quarter of 2025, electroCore completed a strategic acquisition of NeuroMetrix, which brought the Quell portfolio of products, including Quell Fibromyalgia.
Capital Expenditures
- Specific dollar values for traditional capital expenditures over the last 3-5 years are not readily available in the provided information.
- The company has focused on targeted investments in sales and marketing to support commercial efforts, as noted in Q2 and Q3 2025.
- Increased development costs associated with a next-generation mobile application were reported in the third quarter of 2025, indicating investment in research and development.
Peer Outperformance in Life Sciences Tools & Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 7 | 8.4% | 80.2% | 137.8% | CAH 410% · MCK 337% · COR 180% |
| Health Care Services | 20 | 19.9% | 44.4% | 9.4% | HIMS 337% · RDNT 147% · DGX 75% |
| Managed Health Care | 8 | 32.1% | -4.0% | -0.3% | OSCR 138% · HQY 65% · ELV 13% |
| Health Care Facilities | 24 | 8.8% | -3.9% | -15.3% | THC 270% · NHC 261% · ENSG 126% |
| Health Care Equipment | 51 | -1.1% | -6.1% | -17.6% | POCI 11000% · UFPT 381% · GKOS 287% |
| Health Care Supplies | 12 | 38.2% | -12.0% | -25.7% | LNTH 302% · HAE 82% · MMSI 33% |
| Pharmaceuticals | 63 | 7.3% | 0.7% | -29.1% | LQDA 2808% · INDV 1373% · ETON 1294% |
| Life Sciences Tools & Services ← | 108 | -0.5% | -31.3% | -70.9% | SNWV 1990% · ELMD 257% · MEDP 241% |
| Health Care Technology | 20 | -23.4% | -53.0% | -73.9% | SPOK 118% · HSTM -3% · VEEV -22% |
| Biotechnology | 366 | 17.1% | -23.9% | -76.7% | BRTX 106550% · DNTH 1652% · CELZ 1500% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| electroCore Earnings Notes | 12/16/2025 | |
| With electroCore Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 36.25 |
| Mkt Cap | 1.0 |
| Rev LTM | 527 |
| Op Inc LTM | 20 |
| FCF LTM | 54 |
| FCF 3Y Avg | 28 |
| CFO LTM | 74 |
| CFO 3Y Avg | 46 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 22.9% |
| Rev Chg 3Y Avg | 26.8% |
| Rev Chg Q | 9.9% |
| QoQ Delta Rev Chg LTM | 2.5% |
| Op Inc Chg LTM | 18.8% |
| Op Inc Chg 3Y Avg | 60.6% |
| Op Mgn LTM | -4.4% |
| Op Mgn 3Y Avg | -13.4% |
| QoQ Delta Op Mgn LTM | 2.4% |
| CFO/Rev LTM | 5.1% |
| CFO/Rev 3Y Avg | -6.2% |
| FCF/Rev LTM | 1.4% |
| FCF/Rev 3Y Avg | -9.3% |
Price Behavior
| Market Price | $10.81 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 06/22/2018 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $7.67 | $6.61 |
| DMA Trend | up | down |
| Distance from DMA | 40.9% | 63.6% |
| 3M | 1YR | |
| Volatility | 116.3% | 86.6% |
| Downside Capture | 55.52 | 228.94 |
| Upside Capture | 308.43 | 269.74 |
| Correlation (SPY) | 17.3% | 27.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.81 | 0.55 | 1.22 | 1.68 | 1.94 | 0.94 |
| Up Beta | 3.59 | 0.45 | -0.41 | -0.11 | 0.59 | 0.59 |
| Down Beta | -1.77 | -0.04 | 0.11 | 0.65 | 0.59 | 0.94 |
| Up Capture | -162% | -66% | 184% | 308% | 582% | 144% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 8 | 20 | 33 | 62 | 121 | 374 |
| Down Capture | 338% | 205% | 212% | 213% | 181% | 105% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 14 | 23 | 29 | 62 | 126 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECOR | |
|---|---|---|---|---|
| ECOR | 102.1% | 86.7% | 1.18 | - |
| Sector ETF (XLV) | 31.1% | 15.8% | 1.51 | 17.4% |
| Equity (SPY) | 20.7% | 12.8% | 1.19 | 27.6% |
| Gold (GLD) | 35.0% | 28.8% | 1.04 | 16.6% |
| Commodities (DBC) | 41.4% | 20.2% | 1.60 | 4.9% |
| Real Estate (VNQ) | 15.3% | 13.9% | 0.78 | 14.0% |
| Bitcoin (BTCUSD) | -44.7% | 42.7% | -1.27 | 25.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECOR | |
|---|---|---|---|---|
| ECOR | -9.3% | 89.5% | 0.28 | - |
| Sector ETF (XLV) | 7.6% | 15.1% | 0.31 | 10.1% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 16.2% |
| Gold (GLD) | 20.4% | 18.6% | 0.89 | 6.4% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | 4.8% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.03 | 13.9% |
| Bitcoin (BTCUSD) | 7.2% | 52.6% | 0.32 | 8.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECOR | |
|---|---|---|---|---|
| ECOR | -29.1% | 128.2% | 0.15 | - |
| Sector ETF (XLV) | 10.8% | 16.7% | 0.53 | 17.5% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 18.0% |
| Gold (GLD) | 12.5% | 16.2% | 0.63 | 4.6% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 6.9% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 13.5% |
| Bitcoin (BTCUSD) | 60.0% | 66.0% | 1.00 | 6.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 20.7% | 48.4% | |
| 5/6/2026 | -5.9% | -5.1% | 30.9% |
| 3/19/2026 | -4.7% | -8.2% | -3.7% |
| 1/20/2026 | 10.2% | 14.5% | -10.3% |
| 11/5/2025 | 23.2% | 27.8% | 3.4% |
| 8/6/2025 | -29.1% | -25.8% | -29.4% |
| 5/7/2025 | -23.8% | -32.4% | -15.9% |
| 3/12/2025 | -26.5% | -38.4% | -57.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 14 |
| # Negative | 18 | 17 | 16 |
| Median Positive | 4.3% | 6.9% | 12.3% |
| Median Negative | -5.5% | -12.2% | -18.0% |
| Max Positive | 23.2% | 48.4% | 67.5% |
| Max Negative | -29.1% | -38.4% | -57.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 20.7% | 48.4% | |
| 5/6/2026 | -5.9% | -5.1% | 30.9% |
| 3/19/2026 | -4.7% | -8.2% | -3.7% |
| 1/20/2026 | 10.2% | 14.5% | -10.3% |
| 11/5/2025 | 23.2% | 27.8% | 3.4% |
| 8/6/2025 | -29.1% | -25.8% | -29.4% |
| 5/7/2025 | -23.8% | -32.4% | -15.9% |
| 3/12/2025 | -26.5% | -38.4% | -57.5% |
| 1/17/2025 | 1.3% | 8.3% | 14.6% |
| 11/13/2024 | 1.5% | -25.8% | 1.6% |
| 8/7/2024 | -1.3% | -2.1% | -2.6% |
| 5/8/2024 | -5.4% | 2.2% | -9.5% |
| 3/13/2024 | -5.6% | -1.2% | -11.0% |
| 1/16/2024 | 5.0% | 17.2% | 15.6% |
| 11/8/2023 | 2.8% | 8.0% | -3.8% |
| 8/9/2023 | -8.8% | -12.2% | 4.8% |
| 5/3/2023 | -5.0% | -4.6% | -20.2% |
| 3/8/2023 | 9.5% | -4.5% | 53.4% |
| 1/17/2023 | -8.0% | 5.7% | -29.5% |
| 11/3/2022 | -23.8% | -22.3% | 10.0% |
| 8/4/2022 | -7.5% | 4.6% | -21.2% |
| 5/5/2022 | -3.2% | -34.0% | 41.9% |
| 3/15/2022 | 2.8% | 22.4% | 1.8% |
| 1/18/2022 | 8.3% | -14.4% | -25.8% |
| 11/4/2021 | -5.0% | -9.4% | -34.5% |
| 8/5/2021 | 4.3% | 2.3% | 3.3% |
| 5/6/2021 | -2.0% | 2.0% | 17.0% |
| 3/11/2021 | 0.0% | 4.2% | -14.5% |
| 1/11/2021 | -3.6% | 4.7% | 67.5% |
| 11/12/2020 | -1.2% | -7.2% | 8.4% |
| 8/13/2020 | 0.4% | -14.6% | -33.2% |
| SUMMARY STATS | |||
| # Positive | 13 | 14 | 14 |
| # Negative | 18 | 17 | 16 |
| Median Positive | 4.3% | 6.9% | 12.3% |
| Median Negative | -5.5% | -12.2% | -18.0% |
| Max Positive | 23.2% | 48.4% | 67.5% |
| Max Negative | -29.1% | -38.4% | -57.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/19/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 03/19/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/10/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 03/11/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
Recent Forward Guidance
Updated 8/7/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2027 Adjusted EBITDA | 0 | ||||||
| 2026 Revenue Growth | 30.0% | 0.0% | Raised | Guidance: 30.0% for 2026 | |||
| 2027 Incentive Compensation Variable Expense | 0.27 | -8.0% | Lowered | Guidance: 0.35 for 2027 | |||
| 2027 Sales and Marketing Expense | 0.54 | ||||||
| 2026 General and Administrative Expense | -0.03 | ||||||
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | 30.0% | 0.0% | Affirmed | Guidance: 30.0% for 2026 | |||
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Goldberger, Daniel S | Direct | Sell | 6122026 | 6.80 | 80,000 | 544,000 | 1,438,003 | Form | |
| 2 | Lev, Joshua S | CFO and Interim President | Direct | Sell | 5292026 | 9.00 | 6,667 | 60,003 | 764,001 | Form |
| 3 | Errico, Thomas J | Direct | Buy | 5262026 | 5.99 | 9,992 | 59,852 | 2,156,825 | Form | |
| 4 | Lev, Joshua S | CFO and Interim President | Direct | Sell | 5222026 | 6.50 | 3,000 | 19,500 | 595,114 | Form |
| 5 | Goldberger, Daniel S | Direct | Sell | 4142026 | 6.02 | 16,072 | 96,753 | 1,754,655 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Goldberger, Daniel S | Direct | Sell | 6122026 | 6.80 | 80,000 | 544,000 | 1,438,003 | Form | |
| 2 | Lev, Joshua S | CFO and Interim President | Direct | Sell | 5292026 | 9.00 | 6,667 | 60,003 | 764,001 | Form |
| 3 | Errico, Thomas J | Direct | Buy | 5262026 | 5.99 | 9,992 | 59,852 | 2,156,825 | Form | |
| 4 | Lev, Joshua S | CFO and Interim President | Direct | Sell | 5222026 | 6.50 | 3,000 | 19,500 | 595,114 | Form |
| 5 | Goldberger, Daniel S | Direct | Sell | 4142026 | 6.02 | 16,072 | 96,753 | 1,754,655 | Form | |
| 6 | Lev, Joshua S | Chief Financial Officer | Direct | Sell | 12052025 | 5.05 | 2,500 | 12,625 | 109,418 | Form |
| 7 | Goldberger, Daniel S | Chief Executive Officer | Direct | Buy | 12032025 | 4.84 | 1,000 | 4,840 | 1,416,015 | Form |
| 8 | Lev, Joshua S | Chief Financial Officer | Direct | Sell | 11142025 | 6.18 | 2,166 | 13,386 | 146,262 | Form |
| 9 | Errico, Thomas J | Direct | Buy | 8132025 | 4.47 | 15,000 | 67,050 | 1,257,862 | Form | |
| 10 | Goldberger, Daniel S | Chief Executive Officer | Direct | Buy | 8122025 | 4.23 | 1,000 | 4,230 | 1,233,320 | Form |
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Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Life Sciences Tools & Services Resources |
| GenomeWeb |
| BioSpace |
| The Scientist |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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