secwatch.observer — SEC 8-K summary
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Issuer:     electroCore, Inc. (ECOR)
CIK:        0001560258
Form:       8-K
Filed at:   2024-03-13T23:59:59+00:00
Accession:  0001213900-24-022169
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560258/000121390024022169/0001213900-24-022169-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560258/000121390024022169/ecor-20240313.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-022169

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