8-K
filed August 9, 2023, 7:59 PM ET
ticker ECOR
CIK 0001560258
earnings
confidence high
sentiment neutral
materiality 0.70
electroCore Q2 revenue $3.6M (+65% YoY); board shrinks to 7; raises $7.5M
electroCore, Inc.
2023-Q2 EPS reported
-$2.27
revenue$6,331,000
- Record Q2 revenue $3.6M, +65% YoY; GAAP net loss $4.9M vs $5.3M prior year.
- Adjusted EBITDA net loss $4.5M vs $4.9M in Q2 2022.
- Raised ~$7.5M in registered direct offering; pro forma cash $16.2M as of June 30.
- Board reduced to 7 members; Joseph Errico resigned May 2023, Trevor Moody not reelected.
- Reiterates FY2023 revenue guidance of $14M-$15M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
electroCore, Inc. reported the quarter ended June 30, 2023 results: revenue $3.6 million, net income $4.9 million. Guidance reaffirmed.
- Period
- the quarter ended June 30, 2023
- Revenue
- $3.6 million
- Net income
- $4.9 million
- Guidance
- reaffirmed
- Result
- reported results
Exact text from the filing
the information contained in this Item 2.02 and --- EX-99.1 (EX-99.1) --- electroCore Announces Second Quarter 2023 Financial Results Record second quarter 2023 net sales of $ 3.6 million, an increase of approximately 65% over second quarter 2022 Company to host a conference call and webcast today, August 9, 2023 at 4 : 30 PM EDT ROCKAWAY, NJ, August 09, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joseph P. Errico resigned as Member of the Board of Directors at electroCore, Inc..
- Action
- resigned
- Role
- Member of the Board of Directors
Exact text from the filing
Joseph P. Errico, a member of the board of directors (the “Board”) of the Company, resigned from the Board effective as of May 22, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Trevor J. Moody departed as Class II Member of the Board of Directors at electroCore, Inc..
- Action
- did not stand for reelection
- Role
- Class II Member of the Board of Directors
Exact text from the filing
Trevor J. Moody, a Class II member of the Board, did not stand for reelection at the 2023 Annual Meeting of Stockholders (the “Meeting”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
electroCore, Inc. shareholders approved Election of One Class II Director to the Board of Directors for a three-year term of office expiring at the 2026 Annual Meeting of Stockholders at the 2023-08-04 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-08-04
Exact text from the filing
Proposal 1: Election of One Class II Director to the Board of Directors for a three-year term of office expiring at the 2026 Annual Meeting of Stockholders The following director was elected by the following vote to a three-year term of office expiring at the 2026 Annual Meeting of Stockholders: NOMINEE FOR (#) FOR (%) WITHHELD (#) WITHHELD (%) BROKER NON-VOTES Thomas M. Patton 746,734 85.61% 118,046 13.54% 1,447,252
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.98
electroCore, Inc. shareholders approved Ratification of Appointment of Marcum LLP as Independent Registered Public Accounting Firm at the 2023-08-04 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-08-04
Exact text from the filing
Proposal 2: Ratification of Appointment of Marcum LLP as Independent Registered Public Accounting Firm A proposal to ratify the selection of Marcum LLP as the Company’s independent registered public accounting firm for its fiscal year ending December 31, 2023 was adopted with the votes shown: FOR AGAINST ABSTAIN BROKER NON-VOTES 2,242,013 58,545 18,521 n/a
View on SEC.gov
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