---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-014075"
form_type: "8-K"
ticker: "NRXS"
cik: "0001933567"
company_name: "Neuraxis, INC"
filed_at: "2024-04-09T23:59:59+00:00"
generated_at: "2026-06-04T01:10:04.897900+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NeurAxis reports FY2023 net loss $14.6M; restates Q3 2023 due to $3.7M accounting error

## Summary
- FY2023 revenue $2.5M down 8.4% YoY; net loss widened to $14.6M from $4.8M in 2022.
- Restating Q3 2023 financials: $3.7M understatement of net loss and APIC due to warrant liability misclassification.
- Cash at Dec 31, 2023 only $78.6K; secured $6.1M in convertible notes ($1.5M funded by Mar 31, 2024).
- Insured lives expanded to ~16M (up 300% YoY), targeting 50M by end 2024.

## SEC filing metadata
- accession: 0001493152-24-014075
- form_type: 8-K
- ticker: NRXS
- cik: 0001933567
- company_name: Neuraxis, INC
- filed_at: 2024-04-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1933567/000149315224014075/0001493152-24-014075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1933567/000149315224014075/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-014075
- JSON: https://secwatch.observer/filing/0001493152-24-014075.json
- Plain text: https://secwatch.observer/filing/0001493152-24-014075.txt

## Key facts
- Auditor Changes
  Neuraxis, INC reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On April 4, 2024, the Board of Directors (the “Board”) of the Company, upon the recommendation of the Audit Committee of the Board and after discussion with management, concluded that the Company’s previously issued unaudited financial statements as of and for the three and nine months period ended September 30, 2023 filed with the Securities and Exchange Commission on November 20, 2023, should no longer be relied upon and should be restated due to the identification of a material accounting error.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1933567/000149315224014075/0001493152-24-014075-index.htm
- Earnings Releases
  Neuraxis, INC reported the year ended December 31, 2023 results: revenue $2.5 million.
  - Period: the year ended December 31, 2023
  - Revenue: $2.5 million
  - Result: reported results
  source text: medical space well, I believe we are well positioned to execute our business plan in 2024. ” Fourth Quarter and Fiscal Year 2023 Financial Results Revenue in fiscal year 2023 of $2.5 million was down 8.4% compared to $2.7 million in fiscal year 2022. The decrease was primarily due to fewer shipments to certain customers as they manage th
  evidence_url: https://www.sec.gov/Archives/edgar/data/1933567/000149315224014075/0001493152-24-014075-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.