NeuroPace Q1 revenue $18.1M (+25% YoY), net loss $8.9M; loan maturity extended to Sept 2026

NeuroPace Inc

2024-Q1 EPS reported -$0.32 revenue$18,124,000

Revenue $18.1M vs $14.5M in Q1 2023, driven by RNS System and DIXI Medical sales.
Net loss $8.9M, improved from $10.4M; operating loss $7.5M vs $8.3M.
Cash burn $7.6M, down from $9.8M; cash & investments $58.9M; debt $58.0M.
Term loan maturity extended one year to Sept 30, 2026; PIK interest option shortened.
FY2024 guidance reaffirmed: revenue $73-77M, gross margin 72-74%, opex $80-84M.

item 1.01 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 0.95

NeuroPace Inc reported the first quarter ended March 31, 2024 results: revenue $18.1 million, net income Net loss was $8.9 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $18.1 million
Net income: Net loss was $8.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

by specific reference in such filing. --- EX-99.1 (EX-99.1) --- NeuroPace Reports First Quarter 2024 Financial Results and Provides Corporate Update Revenue increased to $18.1 million in Q1 2024, a 25% increase over Q1 2023 Extended the maturity date of the Company's term loan by one year to September 30, 2026 Maintained full-year 2024 revenue guidance of $73

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NeuroPace Inc amended Amendment with CRG Servicing LLC, as administrative agent and collateral agent for the lenders (effective 2024-05-02).

Action: amendment
Agreement: credit facility
Counterparty: CRG Servicing LLC, as administrative agent and collateral agent for the lenders
Effective: 2024-05-02

Exact text from the filing

On May 2, 2024, NeuroPace, Inc. (the “Company”) entered into an amendment (the “Amendment”) to the Company’s existing Term Loan Agreement, dated as of September 24, 2020 (as amended from time to time, the “Loan Agreement”), with the lenders party to the Loan Agreement and CRG Servicing LLC, as administrative agent and collateral agent for the lenders.

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Source: SEC EDGAR

accession 0001528287-24-000010

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