electroCore Q1 2023 net sales $2.8M (+46% YoY); GAAP net loss $5.9M; guides FY23 revenue $14-15M

electroCore, Inc.

2023-Q1 EPS reported -$1.24 revenue$2,780,000

Record Q1 revenue of $2.8M vs $1.9M in Q1 2022, a 46% increase across all major channels.
GAAP net loss $5.9M vs $5.6M; adjusted EBITDA loss $5.1M vs $4.6M; cash $12.2M (Dec 2022: $18.0M).
Truvaga contributed $147K in first full quarter; Rx gammaCore VA/DoD up 38% to $1.7M; US commercial up 56%.
FY 2023 revenue guidance reiterated at $14-15M; expects legacy headache channels to grow >50% to at least $12M.
Net cash usage in Q1 was $5.9M, up from $4.8M; company expects cash usage to decrease through the year.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

electroCore, Inc. reported the quarter ended March 31, 2023 results: revenue $ 2.8 million, net income $ 5.9 million. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $ 2.8 million
Net income: $ 5.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

2.02 and --- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 7 ex991_1.htm EXHIBIT 99.1 electroCore Announces First Quarter 2023 Financial Results Record first quarter 2023 net sales of $ 2.8 million, approximately 46% over first quarter 2022 Company to host a conference call and webcast today, May 3, 2023 at 4 : 30 PM EDT ROCKAWAY, NJ, May 03, 2023 (GLOBE NEWSWIRE) --

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Source: SEC EDGAR

accession 0001213900-23-035982

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