electroCore reports FY2023 revenue $16.0M, up 87% YoY; Q4 revenue $5.2M, up 103%

electroCore, Inc.

Full year 2023 net sales of $16.0M, up 87% from $8.6M; Q4 net sales $5.2M, up 103% from $2.6M.
GAAP net loss improved to $18.8M from $22.2M; Adjusted EBITDA net loss narrowed to $15.4M from $19.0M.
VA/DoD channel drove growth: $9.6M revenue, +89% YoY; Truvaga and TAC-STIM combined $2.8M, up sharply.
Gross margin improved to 83% from 81%; net cash used in operations $14.7M vs $16.6M.
Cash and equivalents $10.6M at year-end vs $18.0M; raised $7.5M in July 2023 registered direct offering.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

electroCore, Inc. reported financial results for the quarter and year ended December 31, 2023.

Period: the quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 13, 2024, electroCore, Inc. issued a press release announcing its financial results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001213900-24-022169

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