CeriBell, Inc. specializes in pioneering artificial intelligence (AI)-powered electroencephalography (EEG) solutions designed for the immediate diagnosis and treatment of neurological conditions directly ...
CeriBell, Inc. (NASDAQ: CBLL) is a pioneering medical device company focused on transforming neurological diagnostics through its AI-powered electroencephalography (EEG) platform. Founded in 2014 by Stanford faculty members including Jane Chao, Josef Parvizi, and Chris Chafe, the company was initially named Brain Stethoscope, Inc. before rebranding to CeriBell in 2015. ...CeriBell, Inc. (NASDAQ: CBLL) is a pioneering medical device company focused on transforming neurological diagnostics through its AI-powered electroencephalography (EEG) platform. Founded in 2014 by Stanford faculty members including Jane Chao, Josef Parvizi, and Chris Chafe, the company was initially named Brain Stethoscope, Inc. before rebranding to CeriBell in 2015. Headquartered in Sunnyvale, California, CeriBell addresses critical unmet needs in hospital environments where rapid detection of seizures and brain activity abnormalities is essential.
The core product, the Ceribell System, consists of a single-use EEG headband and a compact, battery-powered recorder that allows healthcare providers to initiate EEG monitoring within minutes at the patient's bedside. This rapid response capability is crucial for triaging and continuously monitoring patients at risk of non-convulsive seizures, which are often undetected without EEG. The system integrates proprietary AI algorithms to provide real-time seizure detection and trend analysis, enabling clinicians to make informed decisions swiftly.
From a business perspective, CeriBell generates revenue through the sale of its proprietary headbands and recording devices, along with associated software and services. As of the latest data, the company has a market capitalization of approximately $713.7 million, with a revenue per share of $2.524. However, the company is not yet profitable, evidenced by negative EBITDA margins and net margins of -63.5% TTM. The gross profit margin is high at 87.7%, indicating strong underlying product economics, but heavy investments in research and development (22.2% of revenue) and sales & administrative expenses (133.9% of revenue) contribute to operating losses.
CeriBell's financial position includes a current ratio of 10.3, indicating ample liquidity, with cash per share of $3.749 and working capital of $150.5 million. The company went public on October 11, 2024, and has since grown its employee base to approximately 327 full-time employees, according to the latest data, though other estimates suggest up to 345. The employee size ranges between 201-500, reflecting its growth stage.
Key leadership includes CEO and co-founder Xingjuan (Jane) Chao, Ph.D., who holds a background in biophysics from Cornell University and has driven the company's vision since its inception. Under her guidance, CeriBell has expanded from a 25-person startup to a publicly traded company with revenues exceeding $175 million, as stated by the company.
The company's mission is to improve patient outcomes by making EEG diagnostics accessible and immediate in critical care settings, such as ICUs and emergency departments. With a strong emphasis on innovation, CeriBell continues to advance its AI capabilities and expand its product line. Despite current financial losses, the company's substantial market opportunity and strategic positioning in the neurodiagnostics space suggest significant growth potential. As of the latest stock price of $18.81, CeriBell remains a notable player in the medical device industry, dedicated to transforming the diagnosis and management of serious neurological conditions.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$89.1M
+36.1%
+6.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-53.4M
-32.0%
+2.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+87.9%
+1.4%
+5.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-65.6%
-8.1%
+9.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-60.0%
+3.0%
+7.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-41.6M
-14.3%
+31.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-46.7%
+16.0%
+35.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
14.3%
+24.8%
+8.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
9.73x
-41.8%
-10.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Ladies and gentlemen, thank you for standing by. My name is Dejirae and I will be your conference operator today. At this time, I would like to welcome everyone to Ceribell Q2 26 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number 1 on your telephone keypad. If you would like to withdraw your question, I would now like to turn the call over to Brian Johnston of Gilmartin Group. You may begin.
Brian Johnston: Good afternoon, and thank you all for participating in today's call. Joining me from Ceribell are Jane Chao, Co Founder and Chief Executive Officer and Scott Blumberg, Chief Financial Officer. Earlier today, Ceribell issued a press release announcing financial results for the quarter ended June 2026. A copy of the press release is available on the Investor Relations section of the company's website. Before we begin, I would like to remind you that management will make remarks during this call that include forward looking statements within the meaning of federal securities laws and that these are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 2 thousand. Any statements contained in this call that relate to expectations or predictions of future events, results or performance are forward looking statements. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied. By these forward looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our business, please refer to the Risk Factors section of our public filings with the Securities and Exchange Commission, including our annual report on Form 10-K filed with the SEC on 02/24/2026, and quarterly report on Form 10 Q for the quarter ended 06/30/2026. This conference call contains time sensitive information and is accurate only as of the live broadcast today, 08/10/2026. Ceribell disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements because of new information, future events or otherwise. And with that, I will turn the call over to Jane.
Xingjuan Chao: Good afternoon, and thank you for joining us for our second quarter 2026 earnings call. Q2 launched another strong quarter for Ceribell. As we delivered revenue of $28.1 million growing 33% year over year. This is an acceleration from the 29% year over year growth we reported in Q1 which reflects a particularly strong performance in same store growth driven by our clinical account management team. We also increased our account base by 32 accounts. To a total of 712 active accounts. While the increase is …