A Business at a Glance
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We are a medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. We have developed the Ceribell System, a novel, point-of-care EEG platform specifically designed to address the unmet needs of patients in the acute care setting. By combining proprietary, highly portable, and rapidly deployable hardware with sophisticated artificial intelligence (“AI”)-powered algorithms, the Ceribell System enables rapid diagnosis and continuous monitoring of patients with neurological conditions. We are initially focused on becoming the standard of care for the detection and management of seizures in the acute care setting, where the technological and operational limitations of conventional EEG systems have contributed to significant delays in seizure diagnosis and suboptimal patient care and clinical outcomes, as well as a high economic burden for hospitals and the healthcare system.
| Metric | TTM | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | 89M | 89M | 65M | 45M |
| Net Income | -53M | -53M | -40M | -29M |
| EPS | $-1.46 | $-1.46 | $-3.39 | $-5.56 |
| Free Cash Flow | -42M | -42M | -36M | -30M |
| ROIC | -34.3% | -30.5% | -19.2% | -51.0% |
| Gross Margin | 87.9% | 87.9% | 86.7% | 84.4% |
| Debt/Equity | 0.13 | 0.13 | 0.10 | -0.21 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -58M | -58M | -40M | -30M |
| Operating Margin | -65.6% | -65.6% | -60.7% | -66.4% |
| ROE | -34.4% | -30.8% | -21.2% | - |
| Shares Outstanding | 37M | 37M | 38M | 36M |
| Metric | 2023 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 45M | 65M | 89M | 89M |
| Gross Margin | 84.4% | 86.7% | 87.9% | 87.9% |
| R&D | 9.0M | 14M | 19M | 19M |
| SG&A | 20M | 34M | 44M | 44M |
| EBIT | -30M | -40M | -58M | -58M |
| Op. Margin | -66.4% | -60.7% | -65.6% | -65.6% |
| Net Income | -29M | -40M | -53M | -53M |
| Net Margin | -65.1% | -61.8% | -60.0% | -60.0% |
| Non-Recurring | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | -51.0% | -19.2% | -30.5% | -34.3% |
| ROE | N/A | -21.2% | -30.8% | -34.4% |
| ROA | -50.0% | -17.9% | -25.4% | -27.3% |
| Cash Flow | ||||
| Op. Cash Flow | -29M | -35M | -41M | -41M |
| Free Cash Flow | -30M | -36M | -42M | -42M |
| Owner Earnings | -33M | -42M | -54M | -54M |
| CapEx | 983K | 1.3M | 767K | 767K |
| Maint. CapEx | 847K | 1.1M | 1.3M | 1.3M |
| Growth CapEx | 136K | 199K | 0 | 0 |
| D&A | 847K | 1.1M | 1.3M | 1.3M |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.7M | 5.4M | 12M | 12M |
| Debt Repayment | 3.8M | 304K | 150K | 150K |
| Balance Sheet | ||||
| Net Debt | -45M | -369M | -139M | -21M |
| Cash & Equiv. | 34M | 194M | 40M | 40M |
| Long-Term Debt | N/A | 20M | 20M | 20M |
| Debt/Equity | -0.21 | 0.10 | 0.13 | 0.13 |
| Interest Coverage | -14.3 | -19.9 | -30.9 | -30.9 |
| Equity | -112M | 191M | 155M | 155M |
| Total Assets | 59M | 225M | 196M | 196M |
| Total Liabilities | 24M | 34M | 40M | 40M |
| Intangibles | N/A | N/A | N/A | N/A |
| Retained Earnings | -126M | -167M | -220M | -220M |
| Working Capital | 30M | 204M | 168M | 168M |
| Current Assets | 52M | 217M | 187M | 187M |
| Current Liabilities | 22M | 13M | 19M | 19M |
| Per Share Data | ||||
| EPS | -5.56 | -3.39 | -1.46 | -1.46 |
| Owner EPS | -0.91 | -1.11 | -1.49 | -1.49 |
| Book Value | -3.13 | 5.08 | 4.25 | 4.25 |
| Cash Flow/Share | -0.81 | -0.93 | -1.12 | -1.42 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 35.9M | 37.6M | 36.6M | 36.6M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -13.1 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 5.2 | 5.0 | 4.5 |
| Price/Sales | N/A | 15.7 | 7.0 | 7.9 |
| FCF Yield | N/A | -3.7% | -5.3% | -5.9% |
| Market Cap | N/A | 996M | 779M | 700M |
| Avg. Price | N/A | 27.30 | 17.00 | 19.14 |
| Year-End Price | N/A | 26.45 | 21.30 | 19.14 |
Ceribell, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 86.3%.
Ceribell, Inc. (CBLL) has a 5-year average return on invested capital (ROIC) of -33.6%. This is below average and may indicate limited pricing power.
Ceribell, Inc. (CBLL) has a market capitalization of $700M. It is classified as a small-cap stock.
Ceribell, Inc. (CBLL) does not currently pay a regular dividend.
Ceribell, Inc. (CBLL) operates in the Electromedical & Electrotherapeutic Apparatus industry, within the Healthcare sector.
Ceribell, Inc. (CBLL) reported annual revenue of $89 million in its most recent fiscal year, based on SEC EDGAR filings.
Ceribell, Inc. (CBLL) has a net profit margin of -60.0%. The company is currently unprofitable.
Ceribell, Inc. (CBLL) generated $-42 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Ceribell, Inc. (CBLL) has a debt-to-equity ratio of 0.13. This indicates a conservatively financed balance sheet.
Ceribell, Inc. (CBLL) reported earnings per share (EPS) of $-1.46 in its most recent fiscal year.
Ceribell, Inc. (CBLL) has a return on equity (ROE) of -30.8%. A negative ROE may indicate losses or negative equity.
Ceribell, Inc. (CBLL) has a 5-year average gross margin of 86.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 3 years of financial data for Ceribell, Inc. (CBLL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Ceribell, Inc. (CBLL) has a book value per share of $4.25, based on its most recent annual SEC filing.