secwatch.observer — SEC 8-K summary
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Issuer:     electroCore, Inc. (ECOR)
CIK:        0001560258
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001213900-23-035982
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560258/000121390023035982/0001213900-23-035982-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560258/000121390023035982/ecor-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-035982

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